The Economic Times

2024-09-30

Life insurance rule change: From October 1, 2024, you will get higher refund when you surrender your life insurance policy

Policyholders exiting traditional life insurance get more money back starting October 1, 2024. Irdai has asked the insurance companies to offer a higher special surrender value (SSV) for traditional endowment policies from October 1, 2024. The new 'special surrender value' rule mandates higher refunds, offering flexibility to switch plans.

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2024-09-25

Karnataka online trading frauds: Losses skyrocket from Rs 23 crore in 2022 to Rs 903 crore by mid-2024

Most victims from Karnataka are educated professionals, particularly techies from Bengaluru, who were duped after being enticed by fraudsters with promises of high returns or IPO allocation. And this has been a trend across the country when it comes to fake broking apps.

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2024-09-16

5 reasons health insurance claims get rejected

5 reasons health insurance claims get rejected

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2024-07-24

Budget 2024 reduces TDS on life insurance policy payout from 5% to 2%, Now get a higher payout on these case

As per budget 2024 proposal you will now get a higher amount of payout from your life insurance policy as TDS rate has been reduced to 2%. “It is proposed that TDS under section 194DA of the Act be reduced from 5% to 2%” says explanatory memorandum of budget 2024.

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2024-07-23

Indexation benefit on sale of property removed; new LTCG rate of 12.5% announced for capital gains on sale of property

The budget 2024 announced the removal of indexation benefit available on sale of property. Due to this many people who sell their property will now not be able to inflate their purchase price and reduce their capital gains.

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2024-07-23

Has Section 87A tax rebate been increased in old, new tax regime in Budget 2024?

No increase has been announced in the tax rebate under Section 87A of the Income-tax Act in the Budget 2024. Tax rebate under Section 87A makes tax payable zero if an individual's taxable income does not exceed the specified level.

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2024-05-28

LIC thinking of diving into health insurance pool, eyeing acquisitions

The government-owned Life Insurance Corporation (LIC) is looking to foray into the health insurance sector, reports said on May 28. The insurer is currently assessing potential acquisition prospects.

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2024-04-17

3 changes in health insurance claim rules to help consumers: Reduced waiting period for pre-existing diseases, moratorium

The insurance regulator has made it compulsory for health insurance companies to reduce the maximum waiting period to get complete health insurance coverage in case of pre-existing diseases (PED) from 4 years to 3 years. The regulator modified the definition of pre-existing disease in its IRDAI (Insurance Products) Regulations, 2024, notified on April 1, 2024.

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2024-04-04

How technology is easing the life of insurance customers

Insurance is one of the most effective ways to manage risks and secure assets; however, the insurance industry has been mainly susceptible to trust issues. Many people believe that insurers do not pay claims, but the data says otherwise; the industry has been paying claims and is bleeding.

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2024-03-19

Bank of Japan ends negative rates, closing era of radical policy

The Bank of Japan ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from a focus of reflating growth with decades of massive monetary stimulus.

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2024-02-08

New LIC life insurance cover: 7 important details about LIC’s Index Plus policy

Life Insurance Corporation of India (LIC) launched a new unit-linked life insurance policy called LIC’s Index Plus this week. It is a non-participating, regular premium, individual life insurance plan which offers life insurance cover cum savings throughout the term of the policy.

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2023-08-19

Now, life insurance maturity money will not be fully tax-exempt: CBDT issues new tax rules

The Central Board of Direct Taxes (CBDT) issued new guidelines on how tax-exempted maturity amount from a life insurance policy will be calculated in a financial year if the premium paid exceeds a specified level. As per the new guidelines, the maturity amount from life insurance policies bought on or after April 1, 2023, will not be fully tax-exempt.

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2023-05-24

Important features of LIC's Jeevan Azad life insurance plan

LIC's Jeevan Azad is a non-linked, non-participating, individual, savings life insurance plan. This is a Limited Premium Endowment plan under which the Premium Payment Term (PPT) is equal to Policy Term minus 8 years.

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2023-05-17

How health insurance plans have changed since Covid 19: OPD, mental health, surrogacy, pay as you go and more

The Covid-19 pandemic was a wake-up call for both health insurance companies and policyholders. While it exposed the vulnerabilities in the healthcare system, it also offered the regulator an opportunity to eliminate many lacunas and add new features that can offer enhanced and adequate protection to health insurance policy buyers.

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2023-03-23

How has health insurance changed over time? When should you go to for riders??

Insurance is now being offered for what is called the ABCD illnesses. Depending on the stage or depending on how serious the disease is, they are offering day one cover, which basically means that right after you buy the policy,

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2023-02-16

3 things about health insurance you ought to be careful about

"One has to be aware of the list of blacklisted hospitals. Second is the waiting period for specific illnesses. Third is the minimum time of hospitalization which is required for claiming a particular illness in your policy," says Ankit Agrawal, Founder & CEO, Insurance Dekho.

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2023-01-05

Can’t decide what health insurance plan to buy? Here are some tips from Siddharth Singhal

“If you are somebody who already has health insurance and are looking to bump up your cover at a very low cost, top up is a great option to go for. The detectable amount of that top up has to be equivalent to the sum insured that you already have,” says Siddharth Singhal, Business Head, Policybazaar.com

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2022-12-16

Common exclusions in health insurance policy

Irrespective of the insurer you buy a policy from, all health insurance plans have notable exclusions which you as a policyholder or buyer should be aware of. A careful scrutiny of such exclusions will save you from a nasty surprise later on.

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2022-11-22

Is buying a top-up health insurance plan a dependable solution for all your future health expenses?

Given the high inflation, especially in healthcare, many people who have a basic health insurance cover often consider buying a top-up plan. This is intended to ensure adequate financial protection even when medical expenses rise. However, will it work according to your plan? Not necessarily.

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2022-05-18

Should you have more than one nominee in your term insurance?

The nomination process is crucial to protect the interests of the insured’s family. However, just appointing one nominee shouldn’t be done by default as many do.

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2022-02-28

Why people in their early 30s should consider buying health insurance SECTIONS

Today, health insurance is not just an option but a necessity that a person should inculcate in their habits. A good health insurance cover can help you and your family tide over a medical emergency with ease.

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2022-01-28

12 factors to consider before buying cancer health insurance

While buying a health insurance policy for protection against cancer here are the 12 factors you should consider

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2021-07-21

LIC launches benefit based health insurance plan Arogya Rakshak, know how it will work

The Life Insurance Corporation (LIC) of India has introduced a new health insurance plan called Arogya Rakshak, which is a non-linked, non-participating, regular premium, individual health insurance plan.

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2021-05-28

49.1% bank deposits are not under Rs 5 lakh insurance cover: Check if your deposit is protected

When a bank fails, the only respite a depositor has is the insurance cover offered by the DICGC. This cover was raised to Rs 5 lakh from Rs 1 lakh, effective from February 4, 2020.

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2021-05-15

PPF, Sukanya Samridhi, NSC interest rates may see further reduction from July 1

Industry experts say with state election results already announced the government will now take a decision on the rates.

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2021-05-07

LIC relaxes claim settlement requirements

Keeping in mind safety of its customers amid the second wave of the COVID-19 pandemic, state-run Life Insurance Corporation of India (LIC) Friday announced a slew of relaxations in claim settlement requirements, making the process easier and hassle free.

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2021-03-24

PF threshold limit raised to Rs 5 lakh for tax-free interest where there is no contribution by employer

Finance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget.

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2021-03-24

Gold price slips below Rs 45,000; silver cheaper by Rs 900

NEW DELHI: Gold and silver futures fell on Monday as Turkey replaced its central bank governor with a high interest rate critic led to investors flocking towards the safety of the dollar, on fears that the move would threaten other financial markets.

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2021-02-19

After taxman, banks ring warning signals for customers investing, trading in cryptocurrency

MUMBAI: Indian banks have started pulling the plug on customers investing and trading in crypto assets as the spectre of government ban on cryptocurrency rises. The government recently said that it plans to introduce a law banning trade in all cryptocurrencies — except for those issued by the government itself.

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2021-02-01

If bank fails, Rs 5 lakh deposit insurance amount to be available immediately to depositors

The finance minister, Nirmala Sitharaman, has announced that in case a bank fails or withdrawals from the bank are stopped due to financial pressure on the bank, the depositors will be able to get immediate access to their deposits upto the deposit insurance amount of Rs 5 lakh, i.e.

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2020-12-30

ITR filing deadline extended from Dec 31 to January 10, 2021 for these taxpayers

This is the third time government has extended the deadline for taxpayers for whom the normal deadline is July 31. The government has also extended the date to submit the tax audit report to January 15, 2021. The last date of filing declaration under Vivad Se Vishwas Scheme has been extended to January 31, 2021.

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2020-10-26

Money tasks after death in family: How to close accounts, transfer investments, make claims and more

Sort the paperwork and complete financial tasks without leaving any loose ends after the death of a family member. ET Wealth tells you about the documents needed to close accounts, transfer investments and make claims and the processes to complete these tasks.

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2020-10-24

Most Indians do not have a retirement plan, shows PGIM India MF's retirement survey

Are Indians prepared for their retirement? Yet another survey result shows that they are not. Most participants of the survey said they did not have a retirement plan.

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2020-10-20

Just Rs 11.57 lakh to retire? Survey shows young Indians grossly unprepared for old age

Barely one in five considers inflation while planning for retirement. Life insurance and bank FDs are top choices for those who plan for retirement, and this underlines the essential conservatism in most retirement plans.

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2020-10-12

Money & relationships: 5 ways parents can pass on money-related anxiety to their children

Your very money traits and habits form the foundation for your children's money behaviour when they become adults. Find out about your money behaviour that may be causing stress in your children and how to stop yourself from doing so.

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2020-10-09

RBI leaves repo rate unchanged: What this means for home loan borrowers, FD investors

Borrowers who are facing salary cut/job loss due to the novel coronavirus pandemic situation and were looking for some reduction in their EMI burden will have to wait a little longer. However, no change in policy rates means good news for FDs investors as banks may go slow on cutting interest rates on FDs.

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2020-08-24

LIC made Rs 10,000 crore profit in equity since April 1: Chairman

MR Kumar says the insurance behemoth may bring in outside fintechs and insurance techs to grow scale

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2020-08-07

No extension of loan moratorium, but RBI introduces debt resolution plan for eligible borrowers

Mumbai: The RBI on Thursday said it will provide a debt resolution window to enable lenders to implement a resolution plan in respect of eligible corporate exposures as well as personal loans, keeping the ownership unchanged, and without classifying them as non-performing loans.

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2020-07-30

Can guaranteed insurance products ensure stability to your portfolio?

There is a saying – “Don’t put all your eggs in one basket”. Similarly, in your investments too there is a need for diversification through investment in different product categories.

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2020-07-20

Eight behavioural skills of successful investors you should follow

It is not just financial literacy but also behavioural skills that are common to investors who grow their wealth consistently. Here are some habits to emulate.

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2020-07-03

LIC equity investment soars 23% in Q1; these stocks delivered up to 17x return

Data available with Ace equity showed LIC betted on at least 25 penny stocks.

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2020-06-24

PAN-Aadhaar, Tax saving, Form 16, belated ITR filing deadlines extended again

The extension has been done to provide further relief to the taxpayer individuals

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2020-06-22

PPF rate may fall below 7% to a 46-year low

Short-term deposit rates are now very close to or even less than what savings accounts offer.

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2020-06-08

Risks of becoming a loan guarantor and what to do in case of loan repayment default

Loan defaults are bad news for people who have stood as guarantors to loans taken by friends and relatives. Most people know that a guarantor is liable to pay if the borrower defaults on the loan repayment. There are other risks that the guarantor is exposed to.

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2020-06-06

Less than 4% of Covid-19 patients in India have insurance

Policymakers are worried that the number of Covid claims is only 8,500 with a claim amount of Rs 135 cr.

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2020-06-05

Eight money related tasks to complete before June 30, 2020

The government has extended various financial deadlines from March 31, 2020, to June 30, 2020.

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2020-06-03

LIC policyholders can submit maturity claim documents online till June 30, 2020

The policyholders can send the maturity claims and survival benefit requirements by email. The mail should be sent to the servicing branch. Make sure that the mail ID is used only for sending the claim requirements and not for any other purpose.

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2020-05-28

Issue of RBI 7.75% bonds closes on May 28, 2020

The RBI bonds are attractive as they are currently offering a higher interest rate as compared to bank fixed deposits and other financial instruments offering an equal degree of safety.

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2020-05-22

RBI extends EMI moratorium for another three months on term loans. Here's what it means for borrowers

The earlier deadline of three-month EMI moratorium was ending at May 31, 2020

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2020-05-20

Covid-19 to dampen Indian real estate’s recovery over 6-12 months: Report

“With this recent pandemic outbreak, the real estate sector is likely to be handicapped in the short term, impacting over 250 related industries and economic sectors."

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2020-05-14

EPF contribution of private sector employers, employees cut to 10% for 3 months

Currently, an employee contributes 12% of his salary to the EPF account. The employer matches the contribution.

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2020-05-13

Income tax return filing deadline for FY 2019-20 extended to Nov 30, 2020

As per the announcement, "Due date for all income-tax return for FY 2019-20 will be extended from July 31 2020 and 31 October 31, 2020 to November 30, 2020 and tax audit from Sept ember 30, 2020 to 31st October 2020."

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2020-05-12

IT seeks changes in laws as work from home set to become norm

Industry body Nasscom is reviewing labour laws from WFH perspective and will submit a report next week.

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2020-05-12

5 reasons for rejection of EPF withdrawal claim and how to avoid it

Given below are five reasons why your EPF withdrawal claim can get rejected by the EPFO and what you should do to avoid the rejection of a claim.

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2020-05-08

Paytm Payments Bank crosses Rs 600 crore in fixed deposits

"During this period of volatility in other asset classes, a large number of PPB bank account holders are moving their savings into fixed deposits during the ongoing lockdown," stated Paytm Payments Bank.

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2020-05-07

How to choose health insurance in times of coronavirus pandemic

Times may seem bleak, but this too shall pass, and when it does, we will need to get ready for life to return to normalcy. Part of this normalcy will be finances, and for life to move on, it's crucial to make sure savings have not been eaten away through avoidable medical expenses.

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2020-05-07

Should you pay your rent using a credit card amid coronavirus lockdown?

Rent payment is one of the biggest monthly expenditures, especially for youngsters living away from parental homes. In the case of credit cards, accrual of interest gets tricky.

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2020-05-07

Eligible individuals can submit Form 15G, Form 15H to avoid TDS on dividend income too

Tax will be deducted from the dividend at the time of payment by the company/mutual fund house if the total amount of dividend being paid to the individual during the financial year is more than Rs 5,000 at the rate of 10%.

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2020-05-02

RBI cancels CKP Co-operative Bank's licence; depositors to get up to Rs 5 lakh

RBI reasoned that the financial position of the bank is highly adverse and unsustainable. There is no concrete revival plan or proposal for merger with another bank. Credible commitment towards revival from the management is not visible, observed the central bank.

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2020-05-01

Lockdown extended by 2 weeks, India split into red, green and orange zones

The extension will see some relaxations which will be regulated based on the spread of the virus in districts

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2020-04-28

LIC’s new policy volumes touch 6-year high

Additionally, LIC settled 20.3 million maturity and money back claims and annuities over the financial year, it said while settling 750,000 death claims in this period.

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2020-04-25

All you wanted to ask about your debt mutual funds after Franklin Templeton fiasco

Templeton has wound up $4.1 billion of debt funds after a liquidity crisis.

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2020-04-25

Survival strategies for businesses during COVID-19 lockdown

We are all in this together, so the ideal way is to stay transparent with your consumers about what your business is going through. Customers can empathize with companies facing a crisis, as long as the communication is transparent.

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2020-04-24

Around 78,000 unsold homes ready in top 7 cities; Mumbai, Pune account for 45%

Total 78,000 homes or around 12% of total unsold residential inventory across top seven property markets in India as on March end are ready to move in apartments.

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2020-04-15

FY2019-20 ITR filing deadline may be extended as Form 16 deadline put off to June 30

As per the chartered accountants, the deadline for employers to issue the TDS certificate i.e. Form 16 for FY2019-20 to employees has been extended to June 30, 2020, via the ordinance dated March 31, 2020.

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2020-04-11

LIC policyholders given 30 day relaxation for premiums due in March, April in wake of Covid-19 distress

A total of 16 death claims related to covid-19 processed till date, LIC said. All coronavirus deaths to be treated at par with other diseases for claim settlement. The insurer announced that it has announced five plans available online which customers can purchase from home during the lockdown.

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2020-04-09

EMI moratorium fraud: Banks asking customers to be alert, not to share OTP with imposters

Asking customers to protect their financial details, Axis Bank said in an e-mail to customers said fraudsters have started a new modus operandi to gain access to banking details. Imposters may contact you to help postpone your EMI payments and request you to share OTP, CVV, password or PIN related to your banking accounts.

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2020-04-09

How to withdraw from EPF if you need money due to coronavirus

The government has recently amended the EPF withdrawal rules which allow an EPF member to withdraw money in case of emergency due to COVID-19.

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2020-04-08

We are buying in this market on a daily basis, says LIC MD Vipin Anand

The IPO is a time-consuming thing, which is going to be there, says Vipin Anand.

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2020-04-07

New criteria for NRI status and how income will be taxed in India effective from FY 2020-21

At the stage of the passing of the Bill, the amendments originally proposed in the criteria determining 'residential status' in India of a person in the Finance Bill 2020 were relaxed. This change will directly impact the non-resident Indian.

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2020-04-07

SBI reduces savings account interest rate to 2.75%; MCLR cut by 35 bps

This is SBI's eleventh consecutive cut in MCLR in FY 2019-20. Consequently, EMIs on eligible home loan accounts (linked to MCLR) will get cheaper by around Rs. 24.00 per 1 lakh on a 30-year loan.

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2020-04-07

Covid-19: 10 things SMEs can do during lockdown

Attrition has a significant financial implication, hence, SMEs should strive to keep their important people in place during these times. Benefits and incentives can be structured based upon the period of service to increase employee stickiness.

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2020-04-03

World Bank approves $1 billion aid to India to fight Covid-19

This is the largest ever health sector support from the Bank to India.

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2020-04-02

Savers head to safer assets on shaky markets

Experts believe that the mutual fund industry is already seeing redemption pressures.

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2020-03-30

What 3 month moratorium on repayment of term loans means for borrowers

RBI has allowed lending institutions to offer a moratorium on loan repayments.

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2020-03-27

RBI cuts repo rate by 75 bps to 4.40% to mitigate Covid-19 impact

The rate cut was warranted by disruptive force of coronavirus, the central bank said.

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2020-03-26

FM Nirmala Sitharaman announces Rs 1.7 lakh crore relief package for poor

The FM announced a slew of measures to ease the burden on the poor who will be hit hard by the lockdown.

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2020-03-26

Big announcement for EPFO subscribers under PM Gareeb Kalyan Scheme, govt will pay workers' PF for 3 months

This will be applicable for establishments with up to 100 employees, where 90% of employees drawing less than Rs 15,000 salary. Benefiting 4.8 crore employees the govt also amended EPFO regulations to allow workers under EPFO to draw up to 75% of their non-refundable advance or 3 months of wages, whichever is lower.

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2020-03-24

Tax filing dates extended, business rules eased, ATM, bank charges waived off in Covid relief measures. Here are key announcements by Nirmala Sitharaman

The FM announced that the Economic Task Force will soon announce an economic relief package.

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2020-03-24

GST Return filing date extended, relief from late fee, penalties

Firms which have less than Rs 5 crore turnover will not have to pay interest, late fee or fine.

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2020-03-24

FM Nirmala Sitharaman sets Rs 15 lakh income cap to tax NRIs

Govt has decided to tax only the income generated by NRIs from the biz in India, leaving their global incomes.

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2020-03-22

LIC declares relaxation for premium payments

"In view of prevailing extraordinary circumstances in the country on account of Covid-19, LIC will give relaxation to its policyholders in payment of premiums due on inforce policies up to April 15, 2020, wherever customers are unable to deposit online or otherwise," the life insurer said in a statement.

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2020-03-16

US Fed slashes rates to near zero to cushion coronavirus blow

Fed said it could increase bond-buying and use other tools to support market functioning.

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2020-03-16

Sensex crashes 2,713 points: Five factors that weighed on the sentiment

Market sentiment further deteriorated after the number of coronavirus cases in the country rose.

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2020-03-16

SBI Cards shares list at Rs 658, 13% discount to issue price of Rs 755

Analysts were expecting the stock to list at around Rs 780-800 a piece.

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2020-03-09

Monday mayhem marks worst day for Sensex: 5 factors causing this crash

The oil price crash is largely negative for India despite it depending heavily on imports

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2020-03-04

US Fed cuts interest rates by 50 bps in emergency move amid spreading virus

The vote for the emergency cut to a range of 1% to 1.25% was unanimous.

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2020-03-02

You may be fined Rs 10,000 if you don't link PAN with Aadhaar by the end of this month

An individual having an inoperative PAN may face trouble in several financial transactions.

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2020-02-20

Hurry! This LIC pension scheme that can provide Rs 10,000 a month will end March 31

Pradhan Mantri Vaya Vandana Yojana pension scheme, meant for senior citizens, is available only till March 31.

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2020-02-13

New tax regime allows deduction of interest on home loan on rental property

For taxpayers who have an on-going home loan, the interest paid on such loans helpsthem to lower their tax liability in the existing income tax structure. However, under the new income tax regime proposed in Budget 2020, the interest paid on housing loan is not available for deduction for self-occupied houses. But for taxpayers who have rented out their house property, there is good news.

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2020-02-01

Govt pensioners can submit life certificate at home by paying Rs 60

Government pensioners are required to submit their life certificate every year in the month of November to ensure that their pension is not stopped. The last date to submit life certificate to the pension disbursing bank is November 30 every year.

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2020-01-28

Budget 2020 should increase tax break under section 80C

Section 80C is at the core of tax-savings for all categories of individuals. Whether the individual is a government employee, privately employed or for that matter working in an NGO, use the section 80C basket to save on tax.

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2020-01-21

Budget 2020 should cut tax outgo by changing sec 80c, family pension laws

Deduction under section 80C is a deduction from gross total income which can be claimed for investment in specified avenues, expenditures up till a specified limit. The existing maximum deduction available under this section is Rs 1.5 lakh, set in 2014.

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2020-01-13

7 financial planning myths you shouldn't believe

The spread of financial literacy has made lay investors savvier than before. But some misplaced beliefs persist.

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2020-01-09

To avoid paying excess TDS submit tax saving proofs to your employer on time

Staff need to submit proof to back-up their investment declarations. These are papers you need to gather.

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2020-01-09

Quick tax-saving tips

Here are tax breaks you can claim on various incomes and expenditures under different sections of the Income-tax Act, 1961 that can reduce your tax outgo.

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2020-01-08

Financial changes needed when a child turns 18

For the child, this age is a turning point as he typically leaves home for higher studies and takes baby steps towards independence, financial and otherwise. He becomes to conduct financial transactions and acquire assets.

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2020-01-03

Offer standard health policies with maximum sum insured Rs 5 lakh: Irdai to insurers

Irdai has issued guidelines on standard individual health insurance, asking insurers to cover basic health needs.

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2019-12-04

Don't have money in your bank account to pay LIC premium? You can use your credit card

Now, for those who are short of cash, they can opt to pay their Life Insurance Corp. of India (LIC) policy premiums using their credit card. This is especially useful for those last-minute tax-savers who do not have enough money in their bank a/c.

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2019-12-04

Don't have money in your bank account to pay LIC premium? You can use your credit card

Now, for those who are short of cash, they can opt to pay their Life Insurance Corp. of India (LIC) policy premiums using their credit card. This is especially useful for those last-minute tax-savers who do not have enough money in their bank a/c.

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2019-11-26

No depreciation for cars up to 3 yrs, sum insured based on on-road price: IRDAI proposal

The Working Group made various recommendations, after which it has been decided to work on the product design and draw up the proposed policy wordings, including the terms and conditions in plain language, keeping the large motor segment in mind.

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2019-11-21

How and where to check death claim settlement ratio of life insurers

Life insurers are required to show the details of individual and group death claims ratio on their websites separately. If they are showing a death claim ratio by clubbing the data for individual and group policies, they are violating IRDAI rules.

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2019-11-19

Hidden gems: LIC’s favourite stocks that posted over 50% Q2 profit growth

These companies are from across sectors such as paints, financials, cement, defence & pharma.

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2019-11-11

Aviva Life faces IBC trial over ‘not paying landlord’

Aviva is facing proceedings under the IBC, for not meeting payment obligations to the Apeejay Group.

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2019-11-06

5 important points to remember while reading policy benefit illustration

The rates of return mentioned in the benefit illustration are not the upper or lower limits of what you may get in reality. You may get even higher gross yield of more than 8 percent per annum or lower than 4 percent per annum on your investment.

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2019-11-02

Vehicle owners may be able to self-claim 50% more on motor insurance

With proposed draft, consumers can claim upto Rs 75,000. And anything above this limit would have to be assessed by an insurance surveyor.

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2019-10-25

This Diwali, gift yourself a Home Insurance

Diwali, the festival of lights is celebrated by all as the occasion of homecoming of Lord Rama. Hence culturally it has been deemed auspicious to purchase a house at Diwali. A home is not just a structure, but also includes contents diligently acquired by the homeowner over the years.

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2019-10-24

You can save tax on up to Rs 17,000 savings account interest: Here's how

Post office savings interest up to Rs 3,500 is exempt for single a/cs and up to Rs 7,000 for joint a/cs.

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2019-10-21

Will you have enough money when you retire? Your 40s is the time to ask this question

Adequacy of income is easily tested by the assets that you have accumulated. If you are 40 and the only assets you possess are the home you live in and the PF and tax saving investments you have done, you may not be doing enough.

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2019-10-21

When health, motor, personal accident insurance are more needed than life cover

Insurance is a way to ensure that you make provisions to face eventualities. You would do well to first incur that expense which protects you. Read on to know when health, motor and personal accident insurance are more needed than life cover.

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2019-10-21

What is the sum assured in an insurance cover?

The sum assured depends upon the income of the person and typically a maximum of up to 10 times the annual income is allowed as the sum assured.

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2019-10-17

How safe do you think is your bank deposit?

The PMC Bank crisis saw a substantial portion of depositors’ money getting blocked with the bank. Many fear the worse is yet to come if the bank goes in for liquidation. So, how safe is your deposit in such a situation

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2019-10-16

How is the residential status of an individual determined for income tax

The income tax laws classify the residential status of an individual into three categories, depending on the individual's stay in India in the relevant financial year as well as his/her stay in the previous years. Here is a look at these categories.

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2019-10-16

Monthly premium for health insurance now allowed: Can you claim after paying for 2 months?

Till recently, health insurance policy premiums were only payable on annual basis.

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2019-10-14

LIC dominance of India's life insurance market nears three-fourth mark

LIC registered a business growth of 18 percent in September against last year, and a very robust 42 percent in the first half of the financial year between April and September, the latest data released by insurance regulators IRDAI showed.

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2019-10-14

RBI increases withdrawal limit for PMC Bank depositors from Rs 25,000 to Rs 40,000

The economic offences wing of Mumbai Police jaarrested Rakesh Wadhwan and his son Sarang Wadhwan, directors of HDIL.

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2019-10-04

RBI cuts repo rate by 25 bps to 5.15%, lowest since March 2010

It was in addition to a cumulative 110 bps rate cut that RBI has announced so far this year.

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2019-10-01

Gold is not a good investment. Here are reasons why

Gold makes sense for those who have no access to or no trust in the financial system, or expect to be in such a situation. It’s an alternate currency.

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2019-10-01

5 changes that will impact your personal finances from October 1

Starting today, all I-T notices, letters or other tax related correspondence will carry a unique number.

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2019-09-30

Why you should get a Cancer Insurance

A 2017 report by EY, a global advisory firm, highlighted that 75% of households in India have income less than baseline treatment costs for early-stage cancer.

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2019-09-30

Has your motor insurance cover lapsed? Here's all you need to know about renewing it

Understand the process before you dash off to renew a lapsed motor policy.

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2019-09-06

How will borrowers' EMIs be reset after RBI decision to link loans to external benchmarks?

From October 1, 2019, any loan taken will be linked to any one of the 4 external benchmarks specified by RBI.

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2019-08-29

How to financially support your parents after you are married

While children in India have been conditioned to support their parents in old age, times are changing. The rising number of nuclear families, higher cost of living and parents asserting their financial independence, means that the concept of kids as a retirement plan has taken a beating. So how should you support your parents after you have a family of your own?

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2019-08-27

You may not be able to use ATM twice a day if banks have their way

The report says that the banks want to allow just one transaction per a certain period, say 12 hours.

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2019-08-23

Got an income tax notice? Now you can check if it is real or not

Recently, CBDT had issued a circular according to which every income tax notice issued by the department will have a computer-generated Document Identification number.

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2019-08-01

TDS on salary: How it is calculated and deducted

Confused about how TDS is deducted from your salary? Here's everything you need to know about it

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