RBI asks NBFCs to disclose total charges levied for loan products: Report
The Reserve Bank of India (RBI) has directed large non-banking financial companies (NBFCs) to disclose the total charges levied on customers for each loan product.
The Reserve Bank of India (RBI) has directed large non-banking financial companies (NBFCs) to disclose the total charges levied on customers for each loan product.
Over 80% of the health insurance policyholders believe that there are delays in claims which are intentional, designed to pressure policyholders into accepting lower claim amounts.
As per the data, of the total Rs 1.17 trillion claims under health insurance of general as well as standalone health insurers, only Rs 83,493.17 crore or 71.29 per cent were paid during the year ending March 2024.
PhonePe on Tuesday announced the launch of a new and affordable insurance plan for dengue and malaria on its platform, starting at just Rs. 59 per year.
Union Finance Minister Nirmala Sitharaman on Monday said the cost of insurance to the policy holder is expected to come down if the GST Council recommends a reduction in GST rate on health and life insurance policies.
The Delhi government started COVID-19 testing for mediapersons from Wednesday after 53 journalists tested positive for the novel coronavirus in Mumbai.
Deposit insurance coverage will be enhanced from Rs 1 lakh to 5 lakh per depositor
The government wants to bring in reforms but it has given no hint of reducing the role of private insurance. The actuarial private insurance can never alleviate farmers' woes. What is needed is a scheme which makes the public expenditure efficacious, and which increases the farmers' incomes.
As per the McKinsey Global Institute report 2017, there is 43% of automation potential for insurance and finance industries. It is also estimated that by the year 2025, up to 25% of the task force in the insurance industry may be merged or replaced, especially in operations and administrative support. Currently, the insurance industry is looking at use cases for intelligent automation that will uplift the efficiency of the current processes and reduce the operational costs at the same time.
Studies show the society at large is still reluctant when it comes to buying insurance for women
