Insurance

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 Karnataka High Court ruled on Saturday that Franklin Templeton Mutual Fund will need to seek approval from unit holders before winding up six schemes with combined assets of some ₹ 28,000 crore ($3.8 billion). One of the country's most prominent fixed income fund houses, it shut six credit funds in April citing lack of market liquidity and redemption pressures...

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...

Health insurance can be tricky to understand for most people in India. Hence, many a time, people avoid buying the policy altogether. However, considering the urgency of the product with the on-going situation, every individual needs to have a health insurance plan in place. From October 2020, there are several changes implemented by the Government of India that are bound...

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...

OFFERS LIFE COVER AND VARIOUS DEATH BENEFIT PAYOUT OPTIONSPROVIDES ENHANCED PROTECTION WITH HOSPIALISATION, ACCIDENTAL DEATH & PREMIUM WAIVER BENEFITSALLOWS POLICY HOLDERS INCREASE SUM ASSURED ON IMPORTANT MILESTONES – MARRIAGE, HOUSE PURCHASE & CHILD BIRTHSHARPENS FOCUS ON PURE PROTECTION BUSINESS TO BOOST GROWTH MUMBAI: Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and...

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,...