General-Insurance

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...

Indian banks are loosening their purse strings and lending more as pent-up demand surfaces in the Indian festive season, though growth is still nearly half that seen last year. Several lenders including State Bank of India, the country's largest lender and HDFC Bank, India's most valuable bank by market capitalisation saw demand for housing and vehicle loans return to...

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...

The government has said that it will implement a loan relief scheme by November 5, aimed at helping borrowers during the coronavirus pandemic, and reimburse the interest on interest applicable to eligible loan repayments due between March and August. In guidelines on the loan relief released on Wednesday, the Department of Financial Services said the relief will be available...

Bajaj Finance on Wednesday reported a net profit of ₹ 964.88 crore in the July-September period, marking a fall of 35.94 per cent compared to the corresponding period a year ago. In a regulatory filing, the non-banking financial company said its total income came in at Rs 6,523.29 crore in the second quarter of current financial year, up 3.17 per cent...

The number of insurance claims related to treatment for COVID-19 rose to 40 per cent of the total health insurance claims in September, according to an analysis. Based on its analysis of industry data, insurance aggregator Policybazaar.com said "most people filing the claim for COVID-19 treatment are senior citizens of age group 60 years and more, followed by people in...

The Reserve Bank of India has appealed to the country's top court to let banks classify loans as nonperforming, saying a ban imposed to help borrowers in the COVID-19 pandemic could greatly harm the nation's financial system. The central bank, in a filing to the Supreme Court late on Friday, warned that failure to immediately lift an interim stay on...

Equity mutual funds witnessed an outflow of ₹ 734 crore in September, making it the third consecutive monthly withdrawal, mainly due to pull-out from multi-cap space. Besides, investors pulled out over ₹ 51,900 crore from debt mutual funds (MFs) last month compared to ₹ 3,907 crore in August, data from the Association of Mutual Funds in India showed on Thursday. Overall,...

Life Insurance Corporation (LIC)'s New Jeevan Anand plan comes with a dual benefit of protection and savings. The plan pays the surviving policyholder a lumpsum amount at the end of its term, or pays the nominee in case of death of the policyholder, according to LIVE's website - www.licindia.in. LIC is the country's largest life insurance company with provides...