PERSONAL FINANCE


MDT/PTI 01 August 2012
Out of the 2,541 complaints, the banking ombudsman from Kerala examined and settled most of them, leaving a mere 5.7% remaining to be closed Thiruvananthapuram: There has been a 22% increase in complaints received by the banking ombudsman in India's southern Kerala state this year,...

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MDT/PTI 01 August 2012
According to the former Union minister, existing minimum pension of the EPF scheme is 'totally inadequate' for over 3.5 million who had spent their entire working life   Thiruvananthapuram: Congress MP Shashi Tharoor has urged the Indian government to enhance the pension under the...

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Dr SD Israni 01 August 2012
The insurer will reject your claim if you disclose wrong facts in the form Insurance is an important part of our lives but how many of us are aware that the underlying principle of every insurance contract is Uberrimae fidei or contract of utmost trust? The principle is that the customer...

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MDT/PTI 31 July 2012
The SLR cut is expected to release about Rs68,000 crore in to the system   Mumbai: The Reserve Bank of India (RBI) has done a balancing act amid weak economic conditions by increasing liquidity that can help bankers cut lending rates, and at the same time let it continue with its...

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The third part of the United India series, it has been found out through RTI that TPAs are given incentives by United India Insurance to reduce the claims ratio, thus making a mockery of the Insurance Act! Moneylife subscriber Dr Anshu Agrawal from Janakpuri, Bareilly filed a Right to...

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While CIC’s directive to United India to put the date of the policy renewal and the date of policy dispatch to the TPA for every policy is welcome, it has not disclosed everything The sweet victory for Dr Anshu Agrawal was that Central Information Commission (CIC) took the liberty of...

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United India Insurance denied cashless feature for few months after policy renewal citing data was not updated by the TPA. In the age of technology, this seems to be an insurer and/or TPA strategy rather than inefficiency In a landmark judgement the Central Information Commission (CIC)...

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MDT/PTI 27 July 2012
IRDA found the insurer guilty of enrolling new members into the existing group scheme, Bajaj Allianz Life Group Unit Gain-a ULIP Group Insurance Plan, issued to YES Bank, even after fresh circular on ULIPs was issued   New Delhi: Sector watchdog Insurance Regulatory and Development...

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MDT/PTI 27 July 2012
Deciding a nine-year-old freak road accident case, the Thane Motor Accident Claims Tribunal said claim can be granted even if the proof of service and income is not presented by the claimant in the court Thane: The Thane District Motor Accident Claims Tribunal (TDMACT) has held that a...

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It is imperative that the government addresses all issues related to the New Pension Scheme to ensure a post retirement lifestyle commensurate with what the employees are used to Before discussing the merits of the New Pension Scheme (NPS), let us take a bird’s eye view of NPS for...

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MDT/PTI 27 July 2012
IRDA wants to allow individual owners of kirana shops, fair price shops, medical shops, petrol pumps and individual PCO operators to be categorize as micro insurance agents   New Delhi: To promote penetration of insurance in the country, the Insurance Regulatory and Development...

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MDT/PTI 26 July 2012
Income Rakshak plan help customers meet their ongoing monthly responsibilities and expenses by providing them some additional income, the company said    Mumbai: Private insurer DLF Pramerica Life Insurance (DPLI) launched a new plan that helps supplement a family's monthly income and...

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MDT/PTI 26 July 2012
AEGON Religare said its iHealth Plan is a comprehensive health insurance plan that covers 849 surgeries and offers fixed-benefit with a smooth claim-settlement process   Mumbai: Private insurer AEGON Religare Life Insurance (ARLI) launched an online health plan -- iHealth -- targeted...

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Moneylife Digital Team 26 July 2012
The panel recommended that general insurance companies proposing to come out with IPOs should disclose the “claims arising out of catastrophic losses, which could impact the profitability or cash flow of the insurance companies.” Mumbai: Clearing the decks for the Insurance Regulatory...

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Moneylife Digital Team 25 July 2012
Moneylife Foundation held an exclusive, in-depth session hosted by Raj Pradhan, to a overflowing house, in which he delved into various aspects of mediclaim, including explaining complex product features and the fine print   Moneylife Foundation conducted an exclusive seminar on...

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MDT/PTI 25 July 2012
Active subscribers would have to register themselves on the EPFO portal by furnishing their account details to obtain an e-passbook of their fund   New Delhi: Over five crore subscribers of the retirement fund body Employees' Provident Fund Organisation (EPFO) can obtain e-passbook...

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MDT/PTI 25 July 2012
LIC collected first premium of Rs5,236.27 crore while private sector insurers together recorded first premium collection of Rs5,000.33 crore  New Delhi: Country's largest insurer Life Insurance Corp of India (LIC) has recorded a growth of 8.3% in new business with premium collection of...

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MDT/PTI 25 July 2012
HDFC Life launched the unit-linked plan last month targeting working women in urban areas that has average premium of about Rs30,000 Chennai: Private insurer HDFC Life said it had sold over 4,000 policies of its recently launched 'Smart Woman Plan', reports PTI.   "We have sold...

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LIC asked to pay Rs6.5 lakh for ‘deliberately’ rejecting claim   New Delhi: The Life Insurance Corporation (LIC) of India has been directed by a consumer forum here to pay Rs6.5 lakh to a widow for rejecting her insurance claim on her late husband's policy ‘deliberately and...

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Moneylife Digital Team 21 July 2012
According to the Banking Ombudsman for New Delhi, credit card users should pay their bills first and then lodge a complaint in case of a dispute with the card provider. If the bill is pending, then the customer always runs a risk of paying much more, if the judgement goes in favour of the...

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