General-Insurance

Insurance regulator, the Insurance Regulatory and Development Authority of India (Irdai), on Monday pitched standard guidelines for travel insurance with the objective of ensuring uniformity and definition about coverage, exclusions and terms of coverage for domestic as well as international travel. The new guidelines hope to make travel insurance popular with travellers. The guidance will make available a standard travel...

With apprehensions being raised in social and print media about the requirement of a mandatory cash payment of at least one per cent of the Goods and Services Tax (GST) liability, the Finance Ministry on Saturday clarified that it will affect less than half of the total assesses. On the recommendations of the GST Law Committee, the Finance Ministry...

Life Insurance Corporation (LIC) of India, which offers various insurance plans like endowment plans, money back plans, term insurance plans, also offers pension plans. LIC Pradhan Mantri Vaya Vandana Yojana is one such pension plan being offered by the country's largest life insurance company. The government has modified rate of pension for Pradhan Mantri Vaya Vandana Yojana and extended...

Atal Pension Yojana (APY) is a government-run pension scheme focused on unorganised sector workers which enables subscribers to earn a fixed monthly pension to the tune of ₹ 1,000-5,000 upon attaining retirement. The Atal Pension scheme is available at India Post branches supporting core-banking solutions. The scheme is available to those between 18 and 40 years of age at...

The Insurance Regulatory and Development Authority of India (IRDAI) has come out with a clarification that insurers were permitted to change the base premium up to +/- 5 per cent of originally approved premium rates, in order to comply with the guidelines on standardization of exclusions as a one time measure for seamless transition of existing products to ensure viability...

Public Provident Fund — also known as PPF — is a popular investment scheme which offers an investment avenue with decent returns coupled with income tax benefits. PPF account holders can invest a maximum of ₹ 1.5 lakh each financial year. Also, they need to deposit a minimum of ₹ 500 in a financial year to keep the account...

National Pension System (NPS) is a government promoted pension/annuity scheme under which any Indian citizen between the age of 18 and 65 years can open 'Tier I' or 'Tier I and Tier II both' types of pension accounts. NPS account can also be opened by a non-resident Indian or a person with an overseas citizenship of India (OCI). However,...

The beneficiaries of the Atal Beemit Vyakti Kalyan Yojana can heave a sigh of relief as the Employee State Insurance Corporation (ESIC) has announced that submitting the claim on an Affidavit form is no longer required under the scheme. The Ministry of Labour and Employment said in a statement that the ESIC has extended the scheme of Atal Beemit...

Banks, financial and non-banking financial institutions have been asked to take "necessary actions" to credit into the accounts of eligible borrowers by November 5 the difference between compound and simple interest collected on loans of up to ₹ 2 crore during the moratorium scheme, RBI has told the Supreme Court. The Reserve Bank of India (RBI), in an affidavit filed...

The rupee ended marginally higher at 75.53 against the US dollar on Thursday, following four days of losses. It moved in a range of 25 paise, between 73.53 and 73.78 against the greenback, having begun the day weaker at 73.77 compared to its previous close of 73.58. Selling of dollars by exporters supported the rupee, however a gain in the greenback overseas limited...