RBI proposed to introduce a new type of prepaid payment instruments (PPIs) which can be used only for the purchase of goods and services up to a limit of Rs 10,000. You can load/re-load such PPI only from a bank account to pay your bills.
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.
Recently, SEBI has come out with guidelines for the introduction of exit load on the redemption of units in liquid funds within seven days of investment, which has made the investment in liquid funds unattractive for short duration investment.
IRDAI proposed to mandate all general and health insurers to offer a standard indemnity-based health insurance product with a sum insured ranging from Rs 1,00,000 to Rs 5,00,000 on individual as well as family floater basis
According to the latest draft proposal issued by the insurance regulator on Monday, standalone OD cover may be allowed where long-term liability policy is mandated. The expiry of OD cover should not be later than the expiry of the liability policy.
As per the circular, when new security is purchased for which market price is not available on the same day, then such a security will be valued on the basis of scrip level price/ scrip level yield at which the securities are purchased.
FASTags are issued by 22 certified banks through various channels such as Point-of-Sale (POS) at National Highway toll plazas and select bank branches, e-commerce platforms like Amazon and mobile wallets like Paytm.
A central repository of telematics data can be created where data from various sources flows to create a common pool. The data captured by the device helps insurers for designing a customised motor insurance policy with its unique premium.
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.
With the help of FASTag, you will not have to stop your vehicle at toll plazas to pay the toll. As soon as the vehicle crosses the toll plaza, the toll fee will get deducted from the prepaid wallet linked to the FASTag affixed on car's windscreen.
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