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May 22, 2012
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Personal Finance
Life insurance penetration dropped in 2010-11
The country`s life insurance penetration decreased in 2010-11 from a year ago, although non-life insurance penetration rose marginally, Minister of State for Finance Namo Narain Meena said in the Rajya Sabha on Tuesday.
Latest News
IDBI Federal launches 'Termsurance' for senior citizens
Private insurer IDBI Federal Life Insurance today launched its maiden online product, IDBI Federal Termsurance Seniors Insurance Plan, targetted at people in age group of 50-85 years.
States asked to rationalise tax structure for tourism growth
The Reserve Bank of India has de-linked credit for hotel projects from commercial real estate.
IRDA asks Life Council to prepare single insurance product
Sectoral regulator IRDA has asked the Life Insurance Council to design a single insurance product that will cover life as well as non-life.
Moody's downgrades LIC to Baa3 on ONGC, banks exposure
The Life Insurance Corporation lost its higher rating as Moody's downgraded it from Baa2 to Baa3, although it kept the outlook stable.
Verify IT Returns before opening businessmen A/Cs: RBI
In a bid to check frauds, the Reserve Bank on Friday asked the Urban Cooperative Banks (UCBs) to verify Income Tax returns and other documents before opening bank accounts of businessmen as part of the KYC exercise.
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Money Matters
Tata AIG Gen launches renewable reimbursement plan `MediPrime`
It is available for individuals between 18-65 years with cashless options currently through a network of 3,000 hospitals.
`Insurer has to pay 3rd party even if policy premium cheque bounces`
The cancellation of policy having been done by the insurer after the accident, the insurer became liable to satisfy award of compensation passed in favour of the claimants," the Court said.
E-filing of return must for person with income over Rs 10 lakh
The government has made it mandatory for individuals with income of over Rs 10 lakh to file their tax returns for 2011-12 electronically.
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Illicit outflow of money from India pegged at $104 bn
Govt for TDS on real estate transactions
RIL seeks USD 1 bn loan to fund expansion
Tax Dept detects concealed income of Rs 19,938cr in last 2 yrs
Morgan Stanley cuts India's growth forecast to 6.3%
Sony Xperia P priced Rs. 25,500 on Infibeam
White Paper for setting of Lokpal to deal with black money
Centre not sitting idle on rupee crisis: Pranab
Fuel price hike likely soon: IOC
Air India crisis enters 13th day, Rs 230 cr loss so far
Oil bill balloons following rupee depreciation
Fuel prices likely to rise
`Willing to hold unconditional talks`
2G case: A Raja granted bail
Air India sacks 25 more pilots
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