The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Unit linked insurance plans, though, a best selling product may not be actually best suited for you, says financial expert Amar Pandit.
The growth in the first year premium (FYP), particularly in unit-linked insurance policies (ULIPs), of life insurance players, has been largely unaffected by the unprecedented stock market volatility in the last quarter. Sources at the Life Insurance Corporation indicated that the market conditions have not impacted the sale of ULIP products and the business growth was absolutely in sync with expectations. SBI Life registered a growth of around 90-95% in the quarter ended Mar
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
According to Section 80D, the premium paid for medical insurance is deductible from your income up to Rs 15,000 a year
The insurance scheme of the United India Insurance was launched for the first time in the country at Sankarapuram panchayat in Sivaganga district on Sunday. Under the scheme, an individual would be charged Rs 300 a year as premium and Rs 545 for a family not exceeding five members, and Rs 600 for a family not exceeding seven members.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
"There will be a spectrum of guarantees. For instance, there could be a guarantee on premiums paid or sum insured or rate of return or annuity," said an Irda official.
The new service tax of 14% will jack up costs of shopping, travel, insurance premiums and property purchases
Endowment policies give better returns than most fixed income products in the long run.
Golden girl Kangana Ranaut.
Shares of hospital operators, health services providers and insurers rallied broadly
The United States-based insurance major Metropolitan Life Insurance Company on Friday said it aimed to make India its second largest market for insurance products after the United States by 2010.
The Insurance Regulatory & Development Authority (Irda) is planning to cap the charges on universal life policies, or ULPs. These have almost replaced unit-linked insurance plans (Ulips) in terms of new business. Ulips, which used to account for around 80 per cent of the segment, lost their sheen after the regulator brought in stringent norms from September 1.
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
Belying all expectations, the Trinamool Congress registreted a landslide victory in West Bengal assembly elections, overcoming the might of the Bharatiya Janata Party after a bitter campaign that had turned into a virtual duel between Chief Minister Mamata Banerjee and Prime Minister Narendra Modi.
Regulators are expected to work within their domain, says Pranab Mukherjee.
There is churning at the top in IDBI Bank's two group entities.
The present norms do not specify the death cover according to the tenure of Ulip. According to existing norms, the minimum sum assured for a single premium should be 125 per cent of the single premium, while it should be five times the annualised premium for a regular premium irrespective of the tenure chosen. With the opening of the insurance sector, Ulips have emerged as popular investment products contributing more than 70 per cent of the new business premium income.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
The legendary investor never fails to amaze. Here's Buffett as you have never seen before.
The cornerstone of any efficient financial market is certainty and coherence in its regulatory framework.
ULIPs have become popular amongst investors, especially those who do not have the time to track the markets but want to earn higher returns on maturity.
In the last few years, unit-linked insurance plans (Ulips) have quietly become one of the largest players in the Indian stock market. With a total investment estimated at Rs 1.5 lakh crore to Rs 2 lakh crore, they are almost close to the investment made by equity mutual funds.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
Tata AIG India Life Insurance has tied up with Fanklin Templeton Investments to introduce a new plan InvestAssure, a unit linked insurance plan to provide security cover with the opportunity to get high returns on insurance premium.
Individuals could soon lose tax benefits available on fixed deposits with an over five-year term once the direct taxes code comes into force from April 2011.
Referred to as 'Badlav Patr (document of change)', Congress leader Randeep Surjewala and All India Congress Committee's Bihar in-charge Shakti Sinh Gohil presented the manifesto that promises farm loan waiver and 50 percent subsidy in electricity bills to farmers up to 100 units of consumption. The manifesto also promised that it will reject the Centre's farm laws if voted to power.
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
The idea is to monitor centrally sponsored schemes, partly funded schemes, loans, programmes and any other endeavour into which funds are pumped.
'Defence funding is channelled to State-owned research organisations where scientists are merely bureaucrats holding meetings and sending out minutes of meetings and press releases, but have long ago stopped any innovative work.' 'Unless this tragedy is fixed, India's chances to create world-conquering and job-creating new industries are slim,' says Ajit Balakrishnan.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
In what would make unit-linked insurance plans (Ulips) more investor friendly, the Insurance Regulatory and Development Authority (Irda) on Tuesday proposed to cap surrender charges and standardise the revival period for polices that had lapsed.
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
The Insurance Regulatory and Development Authority (Irda) has stuck to its guns on returns from unit-linked pension plans. Despite several representations from the industry, the regulator has decided that insurers will have to provide guaranteed returns of 4.5 per cent on gross premiums until March 11, 2011.
