PERSONAL FINANCE


Moneylife Digital Team 20 September 2024
Anna Sebastian Perayil, who cleared the chartered account (CA) exam in November and was working at the Pune office of Ernst & Young (EY), passed away at 26. In a letter to Rajiv Memani, chairman of EY India, her grieving mother, Anita Augustine, alleged relentless work pressure as the cause of...

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The news item on Vinesh Phogat, who lost the gold medal at the Paris Olympics but won millions of hearts around the world, made me think again of the concept of TRUST.   There is an old story about a monk in the Middle East who lived in a cave and became a recluse to the rest of the world....

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Moneylife Digital Team 19 September 2024
Taking cogniSance of the uproar on social media about the death of Anna Sebastian Perayil, a young chartered accountant (CA), due to work pressure in the Pune office of Ernst & Young (EY), Shobha Karandlaje, Union minister of state for labour and employment, assured a thorough investigation...

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Alleging that many fake disabled employees are working in the Trivandrum central railway station, who allegedly got jobs with the help of fake writers during their written examination, an RTI applicant’s request for the list of names of disabled personnel employed in the Southern Railways, was...

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Moneylife Digital Team 13 September 2024
Holding Star Health & Allied Insurance Company Ltd guilty for not providing privileged facilitation in medicare for a senior citizen, the national consumer disputes redressal commission (NCDRC) directed the insurer to reimburse Rs3.20 lakh with 10%pa (per annum) and Rs1 lakh litigation costs....

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Moneylife Digital Team 12 September 2024
The Union Cabinet has approved health coverage to all senior citizens aged 70 years and above, irrespective of income, under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). This will benefit about 45mn (million) families, with 60mn senior citizens receiving Rs5 lakh free...

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Moneylife Digital Team 10 September 2024
Observing that insurance claim repudiation citing evidence of pre-existing diseases which are also not related to the cause of death cannot be sustained, the national consumer disputes redressal commission (NCDRC) directed Bharti Axa Life Insurance Co Ltd to repay the home loan under the terms...

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Moneylife Digital Team 10 September 2024
After reaching a broad consensus on reducing taxes on health and life insurance premiums, the goods and services tax (GST) council will take a final decision on this during its meeting in November.    Briefing reporters after the 54th meeting of the GST council, Union finance minister (FM)...

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Moneylife Digital Team 06 September 2024
Rejecting the repudiation of an insurance claim citing non-disclosure of a pre-existing disease, the national consumer disputes redressal commission (NCDRC) directed Life Insurance Corporation of India (LIC) to pay Rs10 lakh with 6% interest per annum (pa) and Rs50,000 as cost of litigation to...

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Moneylife Digital Team 04 September 2024
Pensioners under the Employees' Pension Scheme (EPS) 1995 run by the employees' provident fund organisation (EPFO) will be able to get their pension from any bank or branch across India from January, the Union government says. EPFO's apex decision-making body, the central board of trustees...

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Moneylife Digital Team 26 August 2024
In a significant move to address the longstanding concerns of government employees, the Indian Cabinet, led by prime minister (PM) Narendra Modi, has approved the implementation of a new Unified Pension Scheme (UPS). This move, announced ahead of assembly elections in one state and a Union...

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Moneylife Digital Team 26 August 2024
Reserve Bank of India (RBI) has imposed a penalty of Rs3.91 crore on two non-banking financial companies (NBFCs), Innofin Solutions Pvt Ltd and NDX P2P Pvt Ltd, for violating various rules and regulations set by the banking regulator.   Innofin Solutions, also known as LenDen Club and NDX...

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Shreehari Paliath (IndiaSpend) 19 August 2024
In June, Bengaluru witnessed a protest by aggregator platform Urban Company's women workers in the beauty segment, categorised as ‘partners’ or ‘independent contractors’ by the gig economy.   The protest mostly stemmed from the company’s decision to bring in new terms of service without...

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In an order that would make pension funds more transparent to retired employees, the central information commissioner (CIC) has ordered, last week, that the income and expenditure statement as well as the balance sheet of the LIC Employees’ Pension Fund is public information under the Right to...

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Amidst the planning of Independence Day celebrations, followed by a long weekend, many among us missed a piece of important news about the rescue of Indians, who were literally kidnapped in the name of providing information technology (IT) jobs overseas from the clutches of international crime...

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Recently, there was a news article about an African runner at a world running championship who got confused just before the finishing line. Just then, the second runner who was a Spaniard gave a push to the African runner from behind, so the African became the No.1 in the race. The Spaniard...

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Debayan Roy (Bar  and   Bench) 09 August 2024
The Supreme Court on Friday dismissed a plea to postpone the National Eligibility cum Entrance Test postgraduate examination (NEET PG 2024) scheduled to be conducted on August 11 (Vishal Soren @ Bishal Soren and ors vs National Board of Examination and ors).   A Bench of Chief Justice of...

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Moneylife Digital Team 08 August 2024
To make available accurate credit information to lenders as well as borrowers, Reserve Bank of India (RBI) has asked lenders to submit data to credit information companies (CICs) like CIBIL TransUnion, Experian or CRIF Highmark every fortnight or at shorter intervals. At present, lenders are...

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Moneylife Digital Team 07 August 2024
More than Rs54,657.87 crore is lying as unclaimed money in inoperative accounts of the employees' provident fund (EPF), reveals information received under the Right to Information (RTI) Act.     An application filed under the RTI Act by Aakash Goel, an engineer, management graduate and...

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Moneylife Digital Team 05 August 2024
Gold loans outstanding of scheduled commercial banks (SCBs) jumped 25.66% or by Rs1.57 lakh crore to Rs7.73 lakh crore, while for non-banking finance companies (NBFCs), it increased 17.25% to Rs1.53 lakh crore, the Union government told the Lok Sabha.   In a written reply, Pankaj Chaudhary,...

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