Bank to argue with the Reserve Bank that new norms don't apply to floating rate schemes.
The loss followed a massive fraud allegedly committed by Shivaraj Puri, a relationship manager at the bank's Gurgaon branch.
J Hari Narayan, chairman, Irda, said, "We will address the issue of policy exclusions, claim settlement period and the definition of critical illness. All these norms will form a part of the health insurance guidelines."
Banks and housing finance firms may seek legal mortgage as well as completion guarantee clause.
ULPs have become more consumer-friendly. But do you really need one?
Mutual funds breathed easy today, with the flow into liquid and liquid-plus schemes soaring to Rs 30,000-35,000 crore. This is in contrast to the situation over the past few days when a liquidity squeeze caused by the Coal India issue soaking up cash forced companies and banks to withdraw money from mutual funds.
Divide your investments properly for self-consumption, growth and income. Life will be simpler.
The market regulator is working in association with exchanges and fund houses to iron out the technical aspects of such a system. According to the sources, a series of meetings have already taken place.
Sadly, so will lending rates. Do not hurry to put all your money in existing offers.
High deposit rates may put pressure on teaser home loan rates
There are just 10 mn MF investors compared to 60 mn homes with life insurance.
Seek professional help to manage your money. But monitor the holdings and performance.
nfoscians will be taxed for their free shares, both at allocation and selling stages.
The government has increased the existing limit of the Employees Deposit Linked Insurance (EDLI) amount from Rs 60,000 to Rs 1 lakh. The amount will be paid to the next of kin of an employee in case of his death.
After banks, it's the turn of housing finance companies to have a more transparent regime for pricing of loans. The National Housing Bank (NHB), the regulator for these companies, is working on a system that is similar to the base rate regime introduced for banks recently.
Home loan repayment for an under construction property will get tax benefits only after the buyer takes possession.
Last week, the Central Board of Excise and Customs notified that a service tax of 10 per cent would be levied on the gross value of a housing property under construction from July 1.
All leading banks advise clients not to disclose their credit card number or automated teller machine password to anyone.
Servicing two EMIs will substantially reduce tax benefits on second flat.
The form, introduced by the Central Board of Direct Taxes in April, is supposed to make filing tax returns easier.
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