Life Insurance: LIC Creates Platform for Aadhaar-linked Electronic KYC Norms

The Life Insurance Corporation of India (LIC) has created a platform where policyholders may avail electronic know your customer (eKYC) norms linked to their Aadhaar card. Integration of eKYC with Aadhaar would provide a linkage to policy operations; in the coming years, the focus would be on enabling eKYC in various in-house applications, an LIC statement said.

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COMMENTS

Gopalakrishna Bhat

1 month ago

I would like link my aadhar with lic policy.

Gopalakrishna Bhat

1 month ago

I would like link my aadhar with lic policy.

Retirement: EPFO to Raise Maximum Insurance Cover to Rs5.5 lakh
The Employees’ Provident Fund Organisation (EPFO) is likely to increase the maximum amount assured under its Employees’ Deposit Linked Insurance Scheme (EDLI) to Rs5.5 lakh from the existing Rs3.6 lakh.
 
The proposal is to raise the insurance benefit for over 60 million EPFO subscribers. It will be placed before the EPFO’s apex decision-making body headed by the Central labour minister. Once the trustees give their nod, the EDLI scheme will be amended by a notification of the ministry. It is now proposed that the maximum benefit should be raised to 30 times of the average pay drawn during preceding 12 months in addition to 50% of the average balance of the EPF account subject to a ceiling of Rs1 lakh. 

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Banking - RBI: RTGS Facility Will Not Operate on 2nd, 4th Saturdays
The RTGS (real-time gross settlement) system, which allows real-time transfer of large funds, will not be operated on the second and fourth Saturdays of the month. Banks will observe a holiday on those days, the Reserve Bank of India (RBI) said in a notification. However, the system will operate for the full day on other Saturdays, said RBI.
 
As per the new schedule, for regular days, including Saturdays (except the second and fourth Saturdays), business will open at 08:00 hrs while the initial cut-off (for customer transactions) would be 16:30 hours. The final cut-off (inter-bank transactions) will be at 19:45 hours and IDL (international date line) reversal between 19:45-20:00 hours. Close of business will be at 20:00 hours.

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