By November 30, government employees and those availing the EPS (employees’ pension scheme) pension need to submit a life certificate to their banks to certify that they are alive and eligible to claim the amount. To the ensure continuation of your pension, the submission of the life certificate to your pension receiving bank is mandatory every year. In case you fail to submit this life certificate to the bank, the pension payment will not be made from January onwards. However, it can be resumed after submitting the life certificate, which is a tedious task for senior citizens.There are multiple ways for pensioners to submit the life certificate. You can choose what is convenient.Digital submissionClose You can submit the life certificate digitally through the Jeevan Pramaan website. This website was launched by the government in November 2014 to digitise the whole process. To obtain the digital life certificate, you need to provide your Aadhaar number, bank account details, … [Read more...] about Pensioners can submit their life certificates online or in paper format
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The Rs 410-crore public offer of CSB Bank, formerly Catholic Syrian Bank, was subscribed 35 percent by noon on November 22, the opening day.The public issue received bids for 39.83 lakh equity shares against the IPO size of 1.15 crore shares (excluding anchor book), as per data available on exchanges.The reserved category for retail investors was fully subscribed (1.84 times), while the portion set aside for non-institutional investors received subscription of 5 percent. Qualified institutional buyers are yet to get subscription.Close The Kerala-based lender has already raised Rs 184 crore from anchor investors on November 21, at higher end of price band of Rs 193-195 per share. related news Subscribe to CSB Bank: Arihant Capital CSB Bank IPO: Should investors subscribe? CSB Bank mops up Rs 184 cr from anchor investors According to a regulatory filing, the bank finalised the allocation of 94,54,080 shares to 24 anchor investors, including Omers Administration … [Read more...] about CSB Bank IPO sees 35% subscription so far; retail quota full subscribed
Ever noticed a tightrope walker? You could easily notice one at fairs in India, especially in villages. Sometimes, even carefully balancing a pot on his/her head and holding a stick to help maintain balance as he/she treads gingerly from one end of the rope to another.It’s a high risk game! Fall and risk a fracture or break a limb. Reach the other end and earn admiration. You need nerves to even watch it.Buying unlisted shares available in a distress sale is akin to a tightrope walk. Whether you simply buy the shares of unlisted companies that its existing investors want to sell or from an alternate investment fund (AIF) that investors wish to exit midway, or even shares held by employees — these are some of the opportunities that could prop up time and again.Close If you’re vigilant, patient and have the money to spare there could be a fortune. But there’s no guarantee that you’ll make money here. And that is not just the only risk … [Read more...] about Buying unlisted shares and AIF units a tightrope walk, retail investors should stay away
Buying health insurance is an essential item in a personal finance to-do list. If you have already bought one then you are supposed to renew it every year. Over a period of time, the quantum of health insurance required goes up, and so does the premium payable. Rising health insurance premium rates further inflate the bill. That makes many look for larger cover at relatively less price. Some end up buying super top-up policies. Of late, many insurance companies are offering restoration benefit that makes many believe that their existing covers are enough to take care of large hospitalisation expenses.Insurance industry officials tell us that these days some first time insurance-buyers typically want to buy policies with restoration benefit and want to settle for a sum-assured they otherwise would have thought inadequate. At the time of renewal, these insurance buyers may end up opting for the renewal of their base health insurance plan and not renew their super top-up insurance plan as … [Read more...] about Restoration benefit: Should you dump your super top-up policies?
Most people associate 'accident' with vehicles and the injuries if one is hit by them. But, an accident can be situations such as snake bites, electric shocks, drowning, injury by fire or a fall at home.In May 2019, an Insurance Regulatory and Development Authority (IRDAI) Working Group proposed that home insurance policies must cover accidental deaths due to gas cylinder explosion for a reasonable amount.Almost 4,000 lives are lost every year in India due to gas cylinder or stove blasts. More than a lakh individuals die in road accidents in India every year. The list can go on. Accidents happen and one can’t avoid emotional loss and the trauma arising out those accidents.Close Personal accident insurance policies offer financial protection to the insured person in case of accidental death, or partial or total disabilities arising out of the accident. A personal accident cover accounts for many types of accidents, in addition to those caused by a vehicle hit. related … [Read more...] about Explainer | Personal accident insurance: How does it work?