Rates fixed by New India Assurance, Oriental Insurance, United India Insurance and National Insurance after long discussions have been agreed to by the corporate chains
While Bihar and J&K have the least proportion of bank account holders using debit cards at PoS machines, Telangana's record is the highest.
The alarming level of life insurance policy misselling has caught the attention of policymakers amid efforts by the insurance regulator to boost insurance penetration, a top official from the Insurance Regulatory and Development Authority of India (Irdai) said on Tuesday. According to Satyajit Tripathy, member-distribution at Irdai, while life insurance grievances often relate to product issues, non-life insurance complaints typically concern claim payments and exclusions. Addressing these grievances is essential to increasing insurance penetration, he said.
'The mindset of people needs to change.' 'We still believe in accepting cash when we can do business with digital money as well.'
The cashless medical facility was suspended by four public sector unit insurers -- New India Assurance, United India Insurance, National Insurance and Oriental Insurance -- from July 1 after they alleged over-billing by certain private hospitals.
Do we have enough trained oncologists and medical professionals in India to man these over 4,500 beds in the public sector?
The proposed investment will be made over a period of five years in our India operations, which includes an R&D facility at Pune and another centre at Vadodara.
E-wedding planners allow you to book everything online, including venues, make-up artists, bands, florists.
A senior finance ministry source said making the use of debit cards and e-wallets compulsory across the board is legally untenable, but banks have been asked to insist their account holders use these instruments
Modi said there was a need to make transactions 'transparent' in India.
Readers tell us how they are managing without cash since November 8.
Presumably hurt on their balance sheets by the allegedly inflated bills for medical costs of people covered by cashless mediclaim facilities, these insurers have pruned the list of hospitals in four large cities for providing this facility with effect from this month.
From Singapore to Almora, Abhishant Pant has survived without cash, and he wants to continue in that state all his life.
Prime Minister Narendra Modi on Sunday warned unscrupulous elements not to play with the lives of the poor by depositing illegal money into their accounts as stringent law against 'benami' transactions were in place to deal with them, as he asked the youth and other sections to move towards a "cashless society".
In its master circular on general insurance products, which takes immediate effect, Irdai specified, 'The customer may be required to submit only those documents directly related to claim settlement.'
While the acceptance of cards, mobile wallets and banking apps is increasing, only 10 per cent of transactions take place through them.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Things are expected to change dramatically in a few years for urban consumers.
For those who are sceptical about using debit or credit cards, even when faced with cash crunch, Adhil Shetty, CEO of BankBazaar.com, lists out a few safe cashless options that can be exercised through mobile phones.
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
Nearly Rs 3,400 crore (Rs 34 billion) in cash and other items were seized in the elections in 2022-2023, an increase of 835 per cent over 2017-2018.
During his Delhi Metro ride on Friday, Prime Minister Narendra Modi advised students to make cashless payments and share their experiences through blogs.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
The RBI refuses to classify a cryptocurrency as an asset since it doesn't have future cash flow and its value is always fluctuating because of speculation. There is also no consumer protection, observes Tamal Bandyopadhyay, and hence the e-rupee trial run.
Startup founders need to sit up and think about how not to take stardom for granted and how not to disappoint their fans who have stood in long queues for those precious selfies with popular entrepreneurs, notes Nivedita Mookerji.
Right to apprenticeship, legal guarantee for MSP, passing a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, a nation-wide caste census and scrapping of Agnipath scheme are among the promises made by the Congress in its Lok Sabha polls manifesto released on Friday.
Break the chains of debt, invest in your future, and wave the flag of financial independence high. Freedom awaits, comrades. Let's conquer this battlefield together this Republic day, exhorts Vatsal Ramaiya.
The transition to UPI-based ATMs will be gradual, and consumers will not immediately switch to using standalone UPI ATMs overnight.
'My suspicion is that most of the bonds were given by companies who had got contracts or who had benefited from policy changes by the government.'
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Shobha Warrier/Rediff.com travels to Pullampara to discover how it became India's first digital literate village.
He said no matter how much evolution happens in technology, India could never become a fully cashless economy.
The Grand Cross of the Legion of Honour given by France is another in a series of top international awards and honours bestowed by various countries on Prime Minister Modi.
Leading state-run general insurer New India Assurance Company on Wednesday said it will soon launch a new premium mediclaim product as a part of its efforts to resolve the issue over the cashless health cover, which the state-run players had discontinued early July alleging inflated billing by hospitals.
OMCs' Digital India move is likely to have an impact on more than 80.3 million Pradhan Mantri Ujjwala Yojana consumers, majority of whom are not exposed to digital transact.
'Those who should have been affected benefitted from demonetisation.' 'And the vast majority who should not have been affected lost out.' 'That is the ultimate result of demonetisation.'
All payments made via debit and credit cards, net banking and mobile wallets will be entitled to discounts.
