PERSONAL FINANCE


The US will begin processing student visa applications for the Fall Session with the first batch of appointments available from mid-May.   "Attention students! In mid-May, the US Mission to India will open the first batch of appointments for the upcoming student visa season," the US...

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Abhay Datar 28 April 2023
I had discussed certain practical difficulties one may face while opting for a higher pension in my article. Though I received a few queries, I was unable to provide any solution for want of something authentic. All these queries were related to the amount of the likely pension. I kept...

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Moneylife Digital Team 28 April 2023
Setting aside an order passed by the Kurukshetra district consumer dispute redressal forum, the national consumer disputes redressal commission (NCDRC) reiterated that, for claiming insurance on accidental death, all relevant documents need to be submitted.    In an order, the bench...

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Moneylife Digital Team 22 April 2023
The income-tax (I-T) department sent notices to two large private banks in its ongoing investigation into possible malpractices involving commission payments made by insurance companies, says a report.   According to the report from Economic Times (ET), investigators from the tax...

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In May 2021, Phil Kotler celebrated his 90th birthday. In February 2023, he was awarded the lifetime achievement award at the Rise World Summit, organised in India (this must have been the umpteenth achievement award he would have received, over the past few decades). My path crossed Kotler’s...

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Moneylife Digital Team 19 April 2023
Upholding the orders passed by the fora below, the national consumer disputes redressal commission (NCDRC) directed Bank of Baroda to pay Rs1 lakh each as compensation to two students who had obtained an education loan. NCDRC held that there was a deficiency in service on the part of the Bank...

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Moneylife Digital Team 18 April 2023
In a significant ruling, the Supreme Court (SC) says an insurance policy bought by a commercial enterprise cannot be said to have a close nexus to profit-generating activity. The dominant intention of the insurance transaction is not to facilitate some kind of profit generation for the...

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In a stern order early this week, the central information commission (CIC) has slammed a show-cause notice as to why a penalty should not be imposed on the two public information officers (PIOs) of the Prathma UP Gramin Bank, Moradabad, and also ordered them to provide information on the...

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Moneylife Digital Team 13 April 2023
While rejecting the contention that the policy was obtained based on a fabricated voter ID card, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay Rs2.50 lakh with interest at 9%pa (per annum) from 1 August 2014, Rs10,000 as compensation for...

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The General Insurance Council has decided to take on the hospitals that are overcharging the health insurance policyholders and indulging in frauds through a series of actions, said a senior industry official.   Speaking to the media, S Prakash, managing director (MD), Star Health and...

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The Supreme Court on Tuesday ruled that government employees are eligible for annual increment, even if they superannuate a day after earning the benefit.   A bench of Justices M.R. Shah and C.T. Ravikumar said: "The Division Bench of the High Court has rightly directed the appellants...

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Krishnan PR 08 April 2023
On 4 November 2022, the Supreme Court (SC) had held that those willing to opt for a higher pension should be allowed to do so. Hence, those who have retired have to first contribute to the corpus with the difference between the capped amount and the actual amount at 8.33% with interest over...

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Moneylife Digital Team 08 April 2023
Employees' provident fund organisation (EPFO), which manages over 277.4mn (million) accounts of employees from across the country, has not yet credited the interest for FY21-22 and FY22-23. Usually, the interest on the balance amount in the EPFO account is credited on 31st March every year....

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With the increasing number of start-ups—which change their complexion very fast—and with increasing job changes and career changes with mergers and acquisitions, the whole concept of steady, long-term mentorship is also undergoing change.    In the past, we would often hear the...

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The government on Thursday announced setting up of a four-member committee under finance secretary TV Somanathan to review the national pension scheme (NPS) and suggest any changes in it, keeping in mind the interest of government employees.   The committee will also consist of...

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Around 74% of Indians are concerned about their personal financial situation, as opposed to 50% globally, while 63% of Indian consumers are cutting back non-essential spending altogether, a new report said on Thursday.   According to the "2023 PwC Global Consumer Insights Pulse"...

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Oh yes, I have to tell you the story of Nitin, ‘poor fellow’, who did what the boss said but still paid a price.   But, before that sad tale, let me tell you a light-hearted story about my experience with bribery.   You may recall that, sometime back, I had told you a story...

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Union finance minister (FM) Nirmala Sitharaman last week announced the establishment of a committee headed by finance secretary TV Somanathan to review the new pension system amidst demands from a section of employees and the decision by some Opposition-governed states to revert to the old...

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Retirement body employee provident fund organisation (EPFO) on Tuesday fixed 8.15 per cent interest rate on the employees' provident fund for 2022-23.   The decision was taken by EPFO's board of trustees.   Last year, EPFO had declared 8.1 per cent as the rate of interest for...

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Patrick Rucker, Maya Miller  and   David Armstrong (ProPublica) 27 March 2023
  This story was originally published by ProPublica.   When a stubborn pain in Nick van Terheyden’s bones would not subside, his doctor had a hunch what was wrong.   Without enough vitamin D in the blood, the body will pull that vital nutrient from the bones. Left...

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