PERSONAL FINANCE


Moneylife Digital Team 05 December 2024
Brian Thompson, the chief executive officer (CEO) of UnitedHealthcare, the world's largest healthcare company by revenue, was shot and killed in a brazen and targeted attack outside a Manhattan hotel where the health insurer was holding its investor conference, police says setting off a massive...

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Moneylife Digital Team 29 November 2024
Holding State Bank of India (SBI) responsible for not personally informing the borrower about withdrawing free personal accident insurance cover, the national consumer disputes redressal commission (NCDRC) directed SBI to waive the home loan outstanding of Rs14.30 lakh and pay Rs75,000 as...

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Asset reconstruction companies (ARCs) were designed to clean up the banking sector by resolving non-performing assets (NPAs). Consequently, people outside the banking, finance and investment world had nothing to do with them nor had they heard much about them. A spate of defaults among realty...

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There is a plethora of court decisions interpreting various aspects of the Hindu Succession Act, 1956 (HSA) and with many contradictory findings.   None is more vexatious than the interpretation of the implications of the amendments introduced in 2005 that provided equal status to daughters...

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There is a plethora of court decisions interpreting various aspects of the Hindu Succession Act, 1956 (HSA) and with many contradictory findings.   None is more vexatious than the interpretation of the implications of the amendments introduced in 2005 that provided equal status to daughters...

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Moneylife Digital Team 18 November 2024
Refuting HDFC Standard Life Insurance Company Ltd's contention that the deceased life insured (DLI) failed to disclose pre-existing medical conditions, the national consumer disputes redressal commission (NCDRC) ruled that the DLI died due to head injury in a road accident which is independent...

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Debayan Roy (Bar  and   Bench) 18 November 2024
The Supreme Court on Monday sought a response from the Union government regarding the non-appointment of chairpersons in 11 Debt Recovery Tribunals (DRTs) across the country.   A Bench of Chief Justice of India (CJI) Sanjiv Khanna and Justice PV Sanjay Kumar issued notice on a plea...

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Moneylife Digital Team 14 November 2024
The central consumer protection authority (CCPA) has issued guidelines that all coaching institutes must disclose relevant information regarding their students and courses to prevent parents and candidates from being misled. Nidhi Khare, chief commissioner of CCPA and secretary in the...

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Sahyaja MS (Bar  and   Bench) 12 November 2024
The Bombay High Court on Monday held that marks obtained by candidates in recruitment process to public posts can be disclosed under the Right to Information Act, 2005 (RTI Act) and disclosure of the same will not amount to violation of candidates' privacy.   A Division Bench of Justices MS...

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Moneylife Digital Team 08 November 2024
Highlighting a lack of clarity in terms and conditions in the case of surrendered insurance policies, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay Rs88,734, the premium paid by the insurer with an interest of 7%pa (per annum).   In an

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Information commissioner (IC) Vinod Tiwari recently directed the central public information officer (CPIO) of United India Insurance Company Ltd (UIC) to provide a photograph of a vehicle over 12 years old, which is claimed to have been involved in an accident and without corrosion, as this was...

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Moneylife Digital Team 23 October 2024
Regulatory streamlining of lending by the Reserve Bank of India (RBI) will impact gold loan disbursements during the transition phase and curb growth in the business, says a research note. Recently, RBI flagged certain irregular practices in the loan against gold jewellery space and asked...

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Moneylife Digital Team 21 October 2024
Giving a big relief to the wife and family of a deceased home loan borrower, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay the amount insured for the home loan to State Bank of India (SBI). The lender is directed to accept the payment as...

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Moneylife Digital Team 21 October 2024
Giving a big relief to the wife and family of a deceased home loan borrower, the national consumer disputes redressal commission (NCDRC) directed SBI Life Insurance Co Ltd to pay the amount insured for the home loan to State Bank of India (SBI). The lender is directed to accept the payment as...

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I sometimes wonder where good manners end and where honesty begins. Where a person cannot honestly say yes to a request, even if it’s just that you want to say... And, what does he do when he has to say no, when it is not good form to say no?   When I asked aunt Reena, who was visiting us, if...

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Moneylife Digital Team 17 October 2024
While dismissing a first appeal and upholding an order passed by a state commission, the national consumer disputes redressal commission (NCDRC) directed HDFC Standard Life Insurance Company Ltd (now HDFC Life Insurance) to pay Rs46.87 lakh with interest at the rate of 9%pa (per annum), Rs2...

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Mohsin Dar (Bar  and   Bench) 15 October 2024
An insurance company cannot reduce the amount payable to an insured claimant on the ground that the claimant had received some monetary relief from the government for losses, the Jammu and Kashmir High Court recently held (Oriental Insurance Company v. M/S Shalimar Wine Shop).   A Bench of...

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Moneylife Digital Team 14 October 2024
Setting aside an order passed by the state commission, the national consumer disputes redressal commission (NCDRC) directed Bajaj Allianz General Insurance Company Ltd to pay Rs7.60 lakh with 9% interest and Rs25,000 as compensation to a senior citizen for treatment during his visit to the...

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Moneylife Digital Team 09 October 2024
Updated at 9.50pm on 9 October 2024 to include a response from Star Health and Allied Insurance   In a shocking incident, a hacker claims to be leaking data of customers of Star Health and Allied Insurance Co Ltd and their insurance claims. The hacker, xenZen, alleges, "This leak is sponsored...

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Thomas Franco (CFA) 04 October 2024
In a recent interview with the press in the industrial town of South India, Coimbatore, Nirmala Sitharama, the Union Finance Minister clarified to Mr Sundarraman, a reporter from The Indian Express, that according to the bank’s data available to her (which she cross-checked on her tablet), 49.5...

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