With the listing, LIC will lose the sovereign guarantee it enjoyed for the last 64 years. LIC, with its market share and brand equity, has a market share of over 70 per cent in the life insurance industry. Policyholders do not have anything to worry about, as the insurance company will be governed by the solvency norms of the insurance regulator, IRDAI, and very soon by the governance norms of listed entities in the country. … [Read more...] about Insurance is always important, with or without the tax breaks
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In other initiatives, the government has proposed that the Deposit Insurance and Credit Guarantee Corporation (DICGC) would increase Deposit Insurance Coverage from Rs 1 lakh to Rs 5 lakh per depositor. After the recent issue with a domestic bank, the limit of Rs 1 lakh had become a major issue. Such increase will be a relief to small depositors, especially senior citizens, who invest a bulk of their corpus in bank fixed deposits. The government also mentioned the NIRVIK, Niryat Rin Vikas Yojana. Launched last year, this scheme allows for higher insurance coverage of 90 per cent of defaults for exporters through Export Credit and Guarantee Corporation. It would allow exporters to avail credit at lower interest rates. … [Read more...] about More insurance initiatives may be announced over time, outside the budget: Abhishek Bondia
slowdown concerns do not seem to have been addressed to a great extent, or stay invested as the benefits of a corporate tax rate cut tend to take time to play out in the economy? Will interest rates go up due to higher inflation and thus should one go ahead and prepay loans, or will interest rates actually come down due to the RBI rate cuts over the last twelve months that are yet to be transmitted to borrowers? … [Read more...] about Budget 2020’s paradox of choice to taxpayers: to spend or to save?
The Finance Minister has presented a balanced budget in spite of the challenges on hand. Revolving around the theme of aspirational India, economic development for all and a caring society, the budget has focused on generation of employment and inclusive growth through increased expenditure on rural economy, infrastructure, MSME and healthcare. In the current economic scenario, the government seemed poised to draw clear plans to bring about long-term change in the economy. … [Read more...] about Budget 2020 focused on increasing purchasing power of people: Kamlesh Rao
They can also locate the nearest cashless network of garages and hospitals by providing pin code of the city or town, it said, adding apart from obtaining policy documents and renewal notices in real-time by using the chatbot, customers can also register motor claims and check the claim status.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year. … [Read more...] about Bharti AXA General uses WhatsApp to deliver policy and renewal documents