PERSONAL FINANCE


Mahesh works in the airline industry. In March 2020, when the Government announced a nationwide lockdown, all the airlines were grounded, and the cash inflows of Mahesh’s company dried up. The company delayed staff salaries for a couple of months. Mahesh was in a fix. His organisation was not...

Read More



Yes, T took delight in terminating people, and would never miss a chance to wield the chopper. But not always.   There was one occasion when T did not terminate a deserving candidate. Hold on – it was not because he had a change of heart, took pity on the victim, went soft, or...

Read More



COVID’s virulent second wave has had a horrific impact on ‘people like us’ who believed that our social standing, savings and insurance would get us adequate healthcare and protection in a crisis.   The virus has shown us the deadly reality. Entire families have been wiped out; young...

Read More



Moneylife Digital Team 12 May 2021
Many insurers have been refusing to renew Corona Kavach and Corona Rakshak insurance policies (the special COVID-19 policies) launched in 2020 to provide a cover for hospital treatment. Taking a serious note of the refusals by insurers, the Insurance Regulatory and Development Authority of...

Read More



Jenny Deam (ProPublica) 11 May 2021
Since the Trump administration deregulated the health insurance industry, there’s been an explosion of short-term plans that leave patients with surprise bills and providers with huge revenue.   In the spring of 2019, Cory Dowd suddenly found himself without health insurance for the...

Read More



With complaints of life and non-life insurers not selling or renewing standard coronavirus specific health insurance policies Corona Kavach and Corona Rakshak, the Insurance Regulatory and Development Authority of India (IRDAI) has advised the former not to deny the risk cover.   In a...

Read More



Moneylife Digital Team 08 May 2021
We save and invest in the hope of providing a better life for ourselves and our loved ones. But death is inevitable. So what happens to our mutual fund (MF) units when we die?   Transmission of MF units is a process whereby units held in the name of deceased unit-holder are...

Read More



Life Insurance Corporation of India (LIC) has given several relaxations in various claim settlement requirements to make the processes easier and hassle-free, keeping in view the safety of its customers amid the pandemic.   The state-run insurer said that to facilitate speedy...

Read More



Moneylife Digital Team 07 May 2021
Death in a family is an unsurmountable loss to family members and it takes a lot of time to come to terms with it. We have observed that accessing fixed deposits (FD) of the deceased person often becomes a long drawn, stressful process for legal heirs even as they grapple with their grief....

Read More



Moneylife Digital Team 07 May 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has issued the framework for a standard domestic travel insurance product, to be called “Bharat Yatra Suraksha”.   The policy will provide coverage for hospitalisation expenses, death, permanent complete or partial...

Read More



Moneylife Digital Team 07 May 2021
A screenshot of a LinkedIn post by ISB (Indian School of Business) gold medallist Sarthak Ahuja has recently gone viral on WhatsApp and other social media with a claim that if someone with active employment passes away due to COVID-19, his or her legal heirs are eligible to receive money...

Read More



There is a positive development for holders of Government of India bonds who are using the demat account of Stock Holding Corporation of India Limited (SHCIL). Since 13th April, their ‘system’ has started accepting applications for nomination in the case of joint-holders of GoI...

Read More



Moneylife Digital Team 30 April 2021
State Bank of India (SBI) has warned its customers about falling for the quick response (QR) code scams - an active prevalent fraud practice in online money transfer transactions.   The country’s largest public lender has asked its customers not to scan any QR code shared by anyone...

Read More



Moneylife Digital Team 30 April 2021
The Insurance Regulatory and Development Authority of India (IRDAI) has directed that health insurers have to decide or clear requests for cashless treatment and final discharge from hospital within one hour of receipt of the request. The instructions come into force with immediate...

Read More



Amitabha Banerjee Amitabha Banerjee 30 April 2021
I used to spend several hours a day in T’s office.    One day, the local head of a British multi-national company (MNC) came to see T about an apparent fraud on his debit card.    He had talked to Mr Desai, the operations manager of the main branch...

Read More



Sponsored Post 28 April 2021
What is a Neo-bank? Neo-banks are fintech companies providing 100% digital, cutting-edge banking services. They have done away with physical branches by moving all their services online and crafting digital banking solutions. The lack of physical branches helps neo-banks save on their...

Read More



Moneylife Digital Team 26 April 2021
In a significant decision, the Insurance Regulatory and Development Authority of India (IRDAI) has allowed insurers to invest in debt securities of infrastructure investment trusts (InvITs) and real estate investment trusts (REITs). Earlier, insurance companies were allowed to invest only in...

Read More



Physicians heal thyself is passe. Insurers reimburse themselves is the new phrase.   At a time when the general public health insurance policyholders are denied genuine hospital expenses incurred by them, the employees of government owned general insurance companies have been allowed...

Read More



India's insurance sector regulator has directed general and health insurance companies to take action against hospitals if they don't provide cashless facility for COVID-19 claims.   In a circular, the Insurance Regulatory and Development Authority of India (IRDAI) told the insurers...

Read More



Moneylife Digital Team 22 April 2021
The country’s largest lender, State Bank of India (SBI) has warned people about fraudsters, who are posing as staff of SBI Loan Finance Ltd and offering loans only to defraud them.    SBI has issued an alert on Twitter, stating that it is not associated with any such organisations and...

Read More

Free Helpline
Legal Credit
Feedback