BUSINESS
NPS Vatsalya: How to invest in this scheme? Understand the features, benefits, eligibility and more
NPS Vatsalya is targeted at parents who want to secure their children’s financial future by creating a large corpus over the long term. FM Sitharaman released the details of the children focused investment instrument, which was first announced in Budget 2024.
BUSINESS
NPS Vatsalya for children: Finance Minister Nirmala Sitharaman set to launch the scheme shortly; Know the features, benefits, eligibility and more
NPS Vatsalya is targeted at parents who want to secure their children’s financial future by creating a large corpus over the long-term. The scheme was first announced in Budget 2024. FM Sitharman will release the children-focussed investment instrument’s details today.
BUSINESS
Ayushman Bharat scheme: Why senior citizens over 70 need separate health insurance covers despite PM-JAY
Ayushman Bharat: The Rs 5-lakh cover can be a viable back-up to a primary, base health insurance policy, but not a substitute. Long queues for treatment, diagnostic tests, limited choice of hospitals and shared accommodation are causes for concern for senior citizens who are above 70 years, Insurance officials and independent experts say,
ECONOMY
Ayushman Bharat scheme's expansion not enough. Quality & choice of care also important
At 1 percent of GDP, India spends among the least on healthcare. Ayushman Bharat is well-intentioned, but it needs to evolve to provide people with quality — and not cheap — healthcare.
BUSINESS
TCS India employees get tax demand notices; company asks them to wait before paying up
The company expects the department to revisit the notices and issue to be resolved soon. According to experts, there's a possibility that tax authorities committed a mistake while processing the filed returns
BUSINESS
Most companies offer group health insurance coverage of Rs 5 lakh, maternity benefits of Rs 50,000: study
Close to 57 percent companies offer coverage to employees' parents. This cohort accounts for 60 percent of claims received under group health insurance policies, Prudent Insurance Brokers’ annual employee benefits scorecard has found.
BUSINESS
Nearly 78% affluent Indians want kids to study abroad, but only 53% have investment plans in place: HSBC study
Close to 90 percent well-heeled Indian parents say they want to fund their child’s education overseas, despite the costs involved making up 64 percent of their required retirement corpus. Over 58 percent plan to work even post their retirement.
BUSINESS
Awaiting your deposit insurance claim? Check the status easily with Daava Soochak
The online tool can be accessed through the DICGC website by keying in the bank’s name and your mobile number.
BUSINESS
Deadline for health policies to comply with IRDAI norms draws closer: Here's how policyholders will benefit
The moratorium period after which insurers cannot call policies into question will shrink from eight years to five years, which is in favour of policyholders. The onus of proving a fraud – if that is cause of rejection ground – will be on the insurer.
BUSINESS
IRDAI mandates shorter claim settlement timelines, need analysis in policy documents to check mis-selling
The insurance regulator has also asked insurers to collect premiums only after the policy is issued and passed strictures against the (mal) practice of selling multiple policies with lower sums insured to the same policyholder.
BUSINESS
Star Health chief pitches for lower GST levy of 12% on health insurance
“Obviously, we are a protection-driven organization. Health insurance is a protection plan. Life insurance protection plans will be something that we will be interested in. Similarly, on the non-life side, we are evaluating multiple things like motor and two-wheeler and so on,” Roy said.
BUSINESS
Assess whether savings-cum-insurance policies suit customers’ needs before issuing them, says IRDAI
However, the insurance regulator has allowed insurers to appeal against insurance ombudsman orders, which were binding on companies so far.
BUSINESS
Health insurance premiums can rise 10%-15% due to high medical inflation, says Star Health MD and CEO
The standalone health insurer has increased the premium under one of its health products by 10 percent and is evaluating similar hikes in two other plans. It has also rolled out a new product targeted at visually-impaired individuals.
BUSINESS
I-T dept’s e-Dispute Resolution Scheme: Will the process become simpler and quicker?
Central Board of Direct Taxes’ new dispute resolution scheme has set a timeline of six months to pass orders involving taxpayers whose total income is less than Rs 50 lakh and the disputed amount does not exceed Rs 10 lakh.
BUSINESS
Peak XV-backed Kenko shuts operations; ran out of funds, taken to NCLT, founders tell staff
In a series of emails exchanged with employees, the founders said despite injecting Rs 9 crore of their personal funds to cover salaries, the startup ran out of capital, forcing it to shut down. They also addressed allegations of financial misconduct raised by some employees
BUSINESS
Moneycontrol MF Summit: Mutual funds can help ensure better corporate governance standards in listed cos, says SEBI's Amarjeet Singh
SEBI has directed AMCs to maintain structured institutional mechanisms, which can proactively identify and deter instances of potential market abuse including front-running, Whole-time director Amarjeet Singh said
BUSINESS
72% SEBI orders, 73% grievances against registered investment advisors who provide trading calls: ARIA analysis
This apart, 97 percent of SEBI enforcement orders were passed against unregistered investment advisors. In the registered investment advisors (RIA) group, a small proportion – 10 percent – accounts for 94 percent of complaints filed by investors, says an Association of Registered Investment Advisors (ARIA) study.
BUSINESS
Now, dollar-denominated insurance policies for overseas-bound students, parents saving for children’s foreign studies
HDFC Life International CEO Rahul Prasad says that NRIs and resident Indians with global mobility will be able to buy dollar-denominated policies to fund their children’s overseas education and international travel needs, while their rupee-related requirements can be taken care of by India-based insurance entities. Here’s how it helps them.
BUSINESS
LIC’s advertisements negate SC order, could amount to contempt of court, says ACESO founder
Despite its advertisements cautioning policyholders against assigning policies to third-party entities (like ACESO), LIC has been registering policy assignments, says Ketan Mehta, Founder, ACESO.
BUSINESS
Independence Day Special | 6 money tips for women seeking financial freedom
Putting in place a simple financial plan and adhering to it can go a long way towards securing your future.
BUSINESS
Why HRA could be the ace in the pack that helps you choose between old and new tax regimes
You can choose the old-tax regime if you make use of enough tax deductions, but you might still not save much, despite the additional paperwork. What could move the needle for you is the house rent allowance (HRA) exemption.
BUSINESS
RBI policy: New UPI feature to authorise another user to transact from your account
The newly-announced facility will enable primary a UPI user to allow another user to handle UPI payments to a specific limit
BUSINESS
Govt eases LTCG tax blow: Finance Act protects property sellers against higher tax outgo
Individuals who purchased properties before July 23, 2024 will not see any additional tax outgo due to the change in long-term capital gains (LTCG) tax rules announced in Budget 2024.
BUSINESS
Budget 2024 proposals will give a boost to the pace of corporate NPS adoption, says HDFC Pension CEO
Announcement of a hike in corporate NPS deduction limit from 10 percent to 14 percent in the new tax regime has led to an increase in awareness about this scheme. The pace of adoption, though slower than expected, is picking up. Even amongst government employees, four lakh individuals have moved out of the conservative default investment mix to avail of higher equity exposure and, thus, more lucrative returns.
