PERSONAL FINANCE


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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I happened to meet Sam who had just joined the marketing division of a large Info-tech company where I was a consultant. He had an MBA from one of India's leading management institutes and had worked for two years with an international consulting company. The latter had the enviable reputation...

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Moneylife Digital Team 03 October 2024
Holding Tata AIA Life Insurance Co Ltd (earlier known as Tata AIG Life Insurance Co Ltd) responsible for not notifying the complainant of acceptance or rejection of an insurance proposal within the required 15-day period, which constitutes a breach of regulatory obligation, the national...

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Ayesha Arvind (Bar  and   Bench) 03 October 2024
The Karnataka High Court recently directed the State government to pay Rs10 lakh as compensation to Sanjana Raghunath, an international chess player, after she was denied an MBBS seat in a government medical college under the sports quota despite being eligible.   In a judgement passed on...

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Moneylife Digital Team 01 October 2024
The Reserve Bank of India (RBI) says it has observed several irregular practices by gold loan businesses and has asked supervised entities (SEs), including non-banking finance companies (NBFCs), to review their policies and also undertake a portfolio review.   Recently, RBI reviewed the...

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Moneylife Digital Team 27 September 2024
In a significant development following Moneylife's report, Supreme Infrastructure India Limited (SIIL) has withdrawn its proposed preferential issue of equity shares and convertible warrants that had raised serious concerns about corporate governance and public fund management. Moneylife...

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Moneylife Digital Team 24 September 2024
Sharing a Moneylife report on X, Jairam Ramesh, Congress party's general secretary in-charge of communication has urged Reserve Bank of India (RBI) to step in and examine State Bank of India (SBI)'s decision to convert its outstanding debt into equity in Supreme Infrastructure India Ltd...

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Moneylife Digital Team 24 September 2024
Sharing a Moneylife report on X, Jairam Ramesh, Congress party's general secretary in-charge of communication has urged Reserve Bank of India (RBI) to step in and examine State Bank of India (SBI)'s decision to convert its outstanding debt into equity in Supreme Infrastructure India Ltd...

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Moneylife Digital Team 24 September 2024
Rejecting the contention of New India Assurance Co Ltd about collusive intent between the claimants and the police, hospital and officials of Rashtriya Ispat Nigam Ltd (RINL), the national consumer disputes redressal commission (NCDRC) directed the insurer to pay Rs2.62 crore as the death...

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Moneylife Digital Team 23 September 2024
In a move that has surprised corporate watchers, State Bank of India (SBI) will take a dual role in the debt restructuring of defaulter Supreme Infrastructure India Ltd (SIIL). This development marks an unprecedented step in India's corporate debt resolution landscape, as the country's largest...

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