Son fights for 9 years with HDFC Bank to get Rs 5 lakh accidental death insurance cover on debit card

​National Consumer Disputes Redressal Commission (NCDRC) has ordered HDFC Bank to pay Rs 5 lakh as accidental death insurance cover to the son of its deceased customer. The deceased had a savings bank account with HDFC Bank and also an debit card. This debit card came with an accidental death insurance cover which is payable to the nominee of the debit card holder upon the cardholder's accidental death.

from Personal Finance News-Wealth-Economic Times https://ift.tt/toqzC52

50% of complaints against pvt life insurance companies in 22-23 were unfair business practice grievances: IRDAI

The total number of grievances lodged against all life insurers in India decreased from 1,54,826 in 2021-22 to 1,27,378 in 2022-23, as per the report. Grievances against private sector life insurers increased from 40,624 in 2021-22 to 45,884 in 2022-23.

from Personal Finance News-Wealth-Economic Times https://ift.tt/QfG3woi

India's first corporate credit card on RuPay network launched; UPI transactions & lifetime free and more

IndusInd Bank claims to be the first bank in India to launch a corporate credit card on unified payment interface (UPI) network. This card can also be used for linking with an supporting UPI app and also offers both domestic and international airport lounge benefits. Check here for details about this RuPay credit card.

from Personal Finance News-Wealth-Economic Times https://ift.tt/3DzhHAy

Surrender fee: Insurers propose dual structure as regulator pitches for a hike

A higher surrender value on nonpar policies, which guarantee survival or maturity benefit without depending on insurers’ profit, could lead to an increase in more people giving up on policies prematurely, according to the insurers. This could result in a decline in persistence levels — or the proportion of policyholders who opt to pay premiums regularly — for the life insurance sector, according to them.

from Personal Finance News-Wealth-Economic Times https://ift.tt/KWUOloX

Don't have Aadhaar? Go for passport-like verification first

Deputy director general of UIDAI Lucknow region, clarified that these guidelines are for those residents who are above 18 years of age and are getting their Aadhaar made for the first time.

from Personal Finance News-Wealth-Economic Times https://ift.tt/Y9wbeL2

​Canara Bank to pay Rs 9 lakh as compensation to NRI for deficiency in services: NCDRC

​National Consumer Disputes Redressal Commission (NCDRC) has directed state run lender Canara Bank to pay Rs 9,09,288 to an non-resident Indian person due to deficiency in service and indulging in unfair trade practices. It is noteworthy that the NRI first filed a case in State Consumer Commission and then to NCDRC.

from Personal Finance News-Wealth-Economic Times https://ift.tt/i5stO8c

NRI re-entry roadmap: 7 smart financial tips for homecoming

Navigate the best financial tips for NRI returning home for an easy transition! From savvy NRI banking strategies to seamless financial transitions, ensure a secure and prosperous homecoming. Don't miss these must-know insights!

from Personal Finance News-Wealth-Economic Times https://ift.tt/PhQIbSx

Woman can be karta of Hindu Undivided Family (HUF): Delhi HC

The high court, in a recent verdict, underlined that “neither the legislature nor the traditional Hindu law in any way limits the right of a woman to be a karta. Also, societal perceptions cannot be a reason to deny the rights expressly conferred by legislature.”

from Personal Finance News-Wealth-Economic Times https://ift.tt/CPAsYpV

RBI policy: Facing issues with UPI payment limits? RBI lifts caps

The limits of UPI transactions for payments made to hospitals and educational institutes have been raised by five times from Rs 1 lakh to Rs. 5 lakh per transaction, enabling consumers to make higher amounts of UPI payments for education and healthcare purposes.

from Personal Finance News-Wealth-Economic Times https://ift.tt/5JvFwgb

Banks to be open for only 5 days a week? Finance ministry receives IBA proposal

The Indian Banks Association (IBA) has filed a proposal about the adoption of a five-day workweek to the Finance Ministry, according to a number of news sites.

from Personal Finance News-Wealth-Economic Times https://ift.tt/Yxanu4I