Property insurance premium rates are increasing by 25-30 per cent, primarily due to a reduction in discounts, following substantial claims from natural calamities like the Gujarat floods, which caused an estimated 5,000 crore in losses.
Oriental Insurance has insured around 100 Ganesh pandals this year compared with only 20-30 last year.
The removal of Goods and Services Tax (GST) on individual health and life insurance has led to a significant increase in new policy purchases and higher coverage levels, despite an initial surge moderating, according to industry experts.
Buyers should check their scope and triggers and whether they need such policies alongside their regular health insurance.
PAYD suits infrequent drivers who can estimate annual mileage.
InsuranceDekho and RenewBuy have merged to establish India's largest artificial intelligence (AI)-enabled insurance distribution platform, targeting a significant premium book and extensive reach across the country.
Andhra Pradesh Chief Minister N Chandrababu Naidu announced several new initiatives for Tirumala Tirupati Devasthanams (TTD), including Aadhaar-based devotee insurance for Rs 2 lakh, the establishment of an SV Museum by TCS Trust, and the introduction of electric buses donated by Reliance Foundation and Bharat Biotech. The plans also include global expansion of Srivari temples, improved Annadanam, integrated hospital services, and significant infrastructure development in Tirupati to make it a services and wedding destination with a Net Zero concept.
Flood insurance claims can be rejected or reduced if homeowners do not understand what their policy actually covers.
The merged InsuranceDekho-RenewBuy entity aims to significantly expand its distribution network across India, offering insurance, mutual funds, and loans, with a strong focus on 'Bharat' (rural India), according to CEO Ankit Agarwal.
The Insurance Regulatory and Development Authority of India's (Irdai) recent actions against insurers for breaching expense of management (EoM) limits indicate a serious commitment to enforcing operating and distribution cost controls, according to industry experts.
Many claim disputes arise not because the insurer refuses to pay but because policyholders don't know the claim process, miss important documents or misunderstand what their policy covers.
Protect your vehicle from the unpredictable monsoon season by understanding essential motor insurance add-ons like Engine Protect and Zero Depreciation, crucial for covering damages from floods, waterlogging, and preventing costly out-of-pocket expenses.
Insurers are bracing for claims worth nearly 5,000 crore from the recent floods in Gujarat, predominantly for property losses, though they do not foresee an increase in premiums within the competitive property insurance market.
Understanding a product and assessing its suitability improve the chances of staying invested. Use life insurance mainly to cover risk, not to seek returns.
A consumer disputes commission in Mumbai has directed National Insurance Company Ltd to pay a liquor wholesaler over 1.2 crore for stock ruined during the 2017 Mumbai floods, deeming the claim rejection 'arbitrary and unreasonable'.
Here's decoding the fine print so that you know exactly what your health insurance policy covers, what it doesn't and the policy conditions that deserve your attention before you need to make a claim.
Global payments solution major Mastercard has fully exited Indian fintech firm Pine Labs, selling its entire 4.31 per cent stake for Rs 933 crore through block deals on the BSE.
The best time to buy health insurance is when you don't think you need it.
The Union Cabinet has approved a significant increase in the mandatory EPFO wage ceiling from Rs 15,000 to Rs 25,000 per month, a move expected to bring over 51 lakh additional employees under mandatory social security coverage.
Institutional portion subscribed 12.68 times; retail crosses quota.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud involving investments made by the Life Insurance Corporation of India (LIC). Anil Ambani has denied any wrongdoing. The LIC alleges criminal conspiracy, misrepresentation, and fraudulent diversion of funds.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud. The case stems from a complaint by the Life Insurance Corporation of India (LIC) regarding investments in RCAP's non-convertible debentures, alleging criminal conspiracy, misrepresentation, and fraudulent diversion of funds causing significant loss to LIC.
RNFI Services Ltd has received in-principle authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator - Physical (PA-P). This approval allows the company to expand its financial infrastructure into physical, offline, and in-store payments, complementing its existing regulated financial services portfolio.
Experts laud the decision to impose a 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions exceeding Rs 2,000, effective October 15. This move, along with a dedicated fund for small merchants, is seen as crucial for creating a sustainable digital payments ecosystem, incentivising expansion in rural areas, and funding innovation while keeping most transactions free for users.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
Can your money be protected against online frauds like hacking, digital arrests, etc?
A look at some of the oldest, richest and famous Ganesh pandals in Mumbai.
Trump has enacted a new law imposing significant sanctions on Russia and Iran, which could lead to tariffs of up to 100% on major energy importers like India and China.
The National Stock Exchange's (NSE) initial public offering (IPO) is expected to shrink in size to Rs 25,000-27,000 crore, down from an earlier estimate of Rs 30,000 crore, as some shareholders are reducing their offer for sale (OFS) stake.
Homegrown software company Zoho has launched Zia Chat, a unified AI interface designed to streamline business operations across various functions. Alongside this, Zoho announced its entry into vertical SaaS with seven industry-specific applications for sectors like retail, automotive, healthcare, and education, reinforcing its position as a 'Swadeshi' alternative to global tech giants.
Former NITI Aayog vice-chairman Rajiv Kumar has urged the government to maintain zero-fee UPI transactions for several more years, arguing that the benefits of UPI as a public good outweigh the costs. This comes amidst the government's recent decision to introduce a 0.4% fee on person-to-merchant UPI transactions above Rs 2,000 from October 15, a move that has drawn criticism.
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
Merchants will be subject to an 18 per cent Goods and Services Tax (GST) on the Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, but can mitigate this burden by claiming input tax credit (ITC), according to tax experts.
The Indian government has introduced a 0.4 per cent Merchant Discount Rate (MDR) on UPI payments exceeding Rs 2,000 made to merchants, effective from October 15, with a comprehensive framework set to take full effect by October 15, 2026. This policy aims to regulate transaction fees while protecting small merchants and person-to-person transactions.
'These limits will change. Very soon restrictions, restrictions will come.'
Tax experts clarify that merchants will pay 18% GST on Merchant Discount Rate (MDR) for UPI payments exceeding Rs 2,000, effective October 15. However, registered merchants can claim Input Tax Credit (ITC), mitigating the tax burden. This move is expected to generate significant GST revenue for the exchequer while funding payment infrastructure.
Used-car financing has seen significant growth, but borrowers must be aware of higher interest rates, conservative loan-to-value ratios, shorter tenures, and the risk of owing more than the car's depreciated value. Understanding these factors is crucial for making informed decisions.
The Allahabad High Court has ordered the State Bank of India (SBI) to refund Rs 19.90 lakh debited from a widow's fixed deposit to recover her deceased husband's personal loan. The court deemed the bank's action an "abominable" breach of banking practice and also directed SBI to pay Rs 1 lakh in compensation to the woman.
Most Indian investors start their investment journey with the wrong question. They ask, "Which fund will give the highest return?" instead of "How do I structure my investments so that I pay less tax, manage risk effectively, and still compound wealth over time?"
The National Stock Exchange of India's (NSE) mega Rs 22,569-crore initial public offering (IPO) was fully subscribed on the second day of bidding, driven by strong interest from qualified institutional buyers and non-institutional investors.
