Most people do not know how to use it. At best, it provides tax benefit.
West Bengal signed an MoU with the Centre for jointly implementing Ayushman Bharat but so far officials have received no word about how it will be done and the deadline is almost here.
Paytm had received the approval for brokerage services from market regulator Sebi in January this year.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
The Reserve Bank said overseas investors, including FPIs and NRIs, can invest up to 26 per cent in insurance and allied activities through the automatic route.
Intermediaries, TPAs will also benefit, but investments will be under 26% FDI cap
A seasoned banker with over 30 years of experience, Bakhshi is a mechanical engineer from Punjab Engineering College, Chandigarh. He has a post-graduate degree in management from Xavier Labour Relations Institute.
India has received nearly Rs 30,000 crore worth of FDI in the private sector insurance firms since 2015, when the government had increased FDI limit from 26 per cent to 49 per cent. Investment under the automatic route does not require prior approval from the government.
The Cabinet has cleared a Bill to set up a government-owned development finance institution (DFI) with initial paid-up capital of Rs 20,000 crore so that it can leverage around Rs 3 trillion from the markets in a few years to provide long-term funds to infrastructure projects as well as for development needs of the country. To put it in perspective, Rs 3 trillion constitutes slightly less than 3 per cent of the Rs 111 trillion to be spent on over 7,000 projects in the National Infrastructure Pipeline from 2019-20 to 2024-25. Besides, the government will give Rs 5,000 crore as grant to the institution, Finance Minister Nirmala Sitharaman on Tuesday told the media after the Cabinet meeting.
Soon standalone health insurance companies will be governed by separate regulations
There are many ways to lower your auto insurance premium rate but the best way is to add safety features to your car.
Insurers have eased the documentation process to file claims so that they can be settled faster
Those who have an insurance policy need to check its clauses to determine if it covers home care treatment, advises Bindisha Sarang.
In October last year, market regulator Securities and Exchange Board of India had approved life insurance companies to issue IPOs.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
The government must send out a clear signal that leadership positions at regulatory bodies are not a preserve of retired government officials, argues A K Bhattacharya.
It is not the job of regulators to ensure that users make profits. It is not the job of regulators to prevent people from making losses. It is not the job of regulators to prevent people from doing stupid things, argues Ajay Shah.
It will allow more transparency in policies and flexibility in premium payment, besides improving processing of claims.
Neeraj Prakash, MD, Shriram General Insurance, explains how new measures proposed in the Motor Vehicles Act can smoothen the lives of the insured and insurer and how the government plans to make more vehicles owners buy insurance.
For large start-ups the US market is considered to be a preferred destination, as Indian investors were seen as hesitant to pay the kind of valuation private equity investors or the US markets pay. However, Zomato's listing has quashed these notions.
Experts suggest that it's best to go for the bundled product that has only one-year own damage cover.
'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'
While Air India Express is expected to get the full insured amount for the hull loss, it will have to pay compensation to the kin of the deceased and injured, according to applicable laws. The compensation will be paid from its liability cover.
In addition to hospitalisation charges, it will cover expenses like transfer to hospital in of an accident.
The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
Though very popular, these harm the policyholder's long-term insurance objectives
Other proposals include grading of hospitals, expanding network.
'Stick to the known quality names, avoid short term thinking and don't be in a hurry to book profits on your winners.'
From mining through claimants' social media updates to performing a background check, insurance companies have their own set of measures to sniff out whether the statements of the claimant are true or not. Beware!
Expressing the government's commitment to continue with reforms, Finance Minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic. Stressing that there is a need to promote growth as it helps bring down poverty, she however said it would not be at the cost of inflation. RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.
What happens to such a person's life insurance policy? Does the partner or beneficiary or assignee pay the premiums and continue the missing person's life policy in force?
The insurer is a venture between banking major ICICI Bank and the UK's Prudential Corporation Holdings. Singapore's Temasek and Premji Invest are also the shareholders.
After all, when you are studying, it is better if all you have to worry about are your grades.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
Now that cashless is once again the national buzzword, Harjot Singh Narula explains what you must know about cashless treatment under health insurance plan
Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
Avoid these pitfalls to ensure your family's financial security.
British insurer Llyod's chairman Lord Levene considers India a "very difficult market" for foreign insurance companies.
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