PERSONAL FINANCE


The Reserve Bank of India (RBI) has amended the norms as per which unclaimed maturity proceeds of term deposits (TDs) with banks will attract the rate of interest as applicable to savings accounts or the contracted rate of interest on the matured TD, whichever is lower.   As per the...

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Moneylife Digital Team 02 July 2021
Health insurance is a useful product for saving on costs incurred due to hospitalisation and treatment. But it is not easy for everyone to be accepted into the pool of an insurance cover.   A healthy person is likely to face fewer obstacles in buying a health cover compared to someone...

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Edelweiss Group on Friday announced the divestment of its remaining 70 per cent stake in Edelweiss Gallagher Insurance Brokers Ltd (EGIBL) for Rs 307.60 crore.   Gallagher, who previously held 30 per cent in the business, will now be acquiring all the remaining shares, taking its...

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One of the articles that created a great impact on me in my early management years was ‘The judgement of Hermes’ – written by a person I admired greatly from a distance, although I never met him. It was Gaby Mendoza, former chairman of the Asian Institute of Management, Manila, and to my...

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The Supreme Court on Tuesday said it favours in-person Chartered Accountant (CA) exams and refrained from passing any direction to postpone the schedule commencing on July 5.   A bench headed by Justice A.M. Khanwilkar said students with Covid should get opt-out option. The bench...

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HDFC Life Insurance Company Chairman Deepak S. Parekh has suggested that the Insurance Regulatory and Development Authority of India (IRDAI) should allow India's life insurers to evolve further and widen their role.   In his statement to the shareholders in HDFC Life's Annual Report,...

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Moneylife Digital Team 25 June 2021
When it comes to shares or mutual funds or other securities, there are services like depositories that store our investments. This makes it easy to view all financial investments under a single account.    But the same ease of tracking is not readily available for insurance products....

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Amitabha Banerjee Amitabha Banerjee 25 June 2021
In August each year, at the start of the annual budget exercise, treasury department notified branches of the base interest rate they were to use for deposits and loans when preparing the budget. Since the local currency was pegged to the US dollar the dollar interest rate was the...

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How do people who have been on a pedestal for short or long periods of time, handle the fall from their powerful positions? This could be in any area of life – whether the commercial world, or political or professional. It is interesting to see how they feel lost, or live in the past, or...

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The Indian insurance regulator IRDAI has allowed non-life insurers to offer "homecare/domiciliary treatment" or treatment at home as an add on cover afresh or to their existing policies.   In a circular to all non-life insurers including standalone health insurers, the Insurance...

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Moneylife Digital Team 18 June 2021
Low interest rates have shifted many retail assets from the safety of bank fixed deposits to market-linked investments like bonds and debentures.   Although we do not suggest such investments for most people, due to the taxation of interest at marginal rate, borrower’s risk of default...

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Moneylife Digital Team 18 June 2021
Technology is a powerful tool that is being used to disrupt many traditional businesses. We have witnessed technology greatly impacting financial services, allowing customers to manage their finances and investments without ever stepping into a physical office or filling a form.   The...

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Moneylife Digital Team 16 June 2021
The Pension Fund Regulatory and Development Authority (PFRDA) has now permitted its subscribers to withdraw the entire accumulated pension wealth without purchasing annuity if the pension corpus is less than Rs5 lakh.   As of now, national pension scheme (NPS) subscribers with a...

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The realization about the importance of life insurance in financial planning has grown by leaps and bounds over the last one year. [1] Because of the sheer magnitude of the Coronavirus pandemic, this kind of a reaction is quite natural and reasonable. After all, over 163 million across the...

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The Supreme Court on Friday ordered postponement of AIIMS INI CET Examination, 2021, scheduled on June 16, by one month.   A bench comprising Justices Indira Banerjee and M R Shah said that considering many of the candidates intending to take the exam are on Covid duty and in remote...

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Amitabha Banerjee Amitabha Banerjee 11 June 2021
K Joseph was a middle-aged, God-fearing, peace-loving and quiet character. He was the 'wouldn’t hurt a fly' type of chap, and I doubt he had ever raised his voice to anyone in all his life. He was a credit officer in one of our larger branches.   Joseph yelling at a customer?...

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Moneylife Digital Team 10 June 2021
Critical illness insurance is a useful product for covering the expenses for treating major life-threatening illnesses such as severe cancer, heart attack and others.   Regular health insurance does pay for expenses related to treating critical illnesses, but may not entertain...

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The increased diversity in borrower profiles is indicated by the fact that, in 2020, 49 per cent of first-time borrowers were less than 30 years old and 71 per cent were based in non-metro locations, while 24 per cent were women, according to a joint report by Transunion CIBIL and Google...

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Moneylife Digital Team 04 June 2021
Personal accident (PA) cover and term life insurance are two very important insurance products during our working age. While it is easy to compare and buy a term life cover, the same cannot be said about a personal accident cover.   PA policies are sold either as add-ons to a term...

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It would seem a strange title. Compliments are generally expected to motivate, to show appreciation, to create a feeling of warmth and friendship.   In short, a very positive attitude—starting with those oft repeated words— “Well done.”    These are words which have taken many...

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