Insurance Bill

It is a secure two-step process will help customers pay bills without the hassle of putting in the premium amount, and remembering premium payment dates, according to a statement shared NPCI today.

With the UPI Auto-Pay facility, customers can use any UPI application for recurring payments such as electricity bills, EMI payments, insurance, mobile bills, etc

Opposition parties alleged today that the government bulldozed the insurance Bill through Rajya Sabha and "brute force" was used against members in the House.

The Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors can access their deposits to the extent of the deposit insurance cover through interim payments by the Deposit Insurance and Credit Guarantee Corporation.

The bill is aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products.

The government introduced the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill in the Rajya Sabha, which aims to provide timely support to depositors of stressed banks.

Bank depositors will get an insurance of Rs 5 lakh on their deposits within 90 days in case of moratorium, the government announced today

For families that had to bear the brunt of Covid-19, there was little or no respite along with the disease, they also had to foot the rather extensive and expensive medical bills

IRDAI has also asked the health insurers to convey their decision on final discharge of patients whose Covid claims are covered, within an hour of receiving the final bill from the hospital concerned

The Delhi High Court Wednesday said insurance companies cannot take 6-7 hours for approving bills of COVID-19 patients as it delays their discharge from hospitals and those in need for beds have to wait longer.

A bill to increase foreign direct investment (FDI) in the insurance sector from 49 per cent to 74 per cent was approved by Parliament with the Lok Sabha giving green signal to the legislation by a voice vote on Monday.

Finance Minister Nirmala Sitharaman said on Monday that raising the FDI limit in the insurance sector to 74 per cent was necessary to help insurers deal with issues concerning financial stress.

Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

The FRDI Bill seeks to offer a bail-in clause to banks, which many fear will be detrimental to depositors.

As per BBPS website, the facility would be expanded to include other types of repetitive payments like insurance premium, mutual funds, school fees, EMIs, and municipal taxes, among others.

It is a secure two-step process will help customers pay bills without the hassle of putting in the premium amount, and remembering premium payment dates, according to a statement shared NPCI today.

With the UPI Auto-Pay facility, customers can use any UPI application for recurring payments such as electricity bills, EMI payments, insurance, mobile bills, etc

Opposition parties alleged today that the government bulldozed the insurance Bill through Rajya Sabha and "brute force" was used against members in the House.

The Bill proposes that even if a bank is temporarily unable to fulfil its obligations due to restrictions such as moratorium, depositors can access their deposits to the extent of the deposit insurance cover through interim payments by the Deposit Insurance and Credit Guarantee Corporation.

The bill is aimed at generating required resources from the Indian markets so that public sector general insurers can design innovative products.

The government introduced the Deposit Insurance and Credit Guarantee Corporation (Amendment) Bill in the Rajya Sabha, which aims to provide timely support to depositors of stressed banks.

Bank depositors will get an insurance of Rs 5 lakh on their deposits within 90 days in case of moratorium, the government announced today

For families that had to bear the brunt of Covid-19, there was little or no respite along with the disease, they also had to foot the rather extensive and expensive medical bills

IRDAI has also asked the health insurers to convey their decision on final discharge of patients whose Covid claims are covered, within an hour of receiving the final bill from the hospital concerned

The Delhi High Court Wednesday said insurance companies cannot take 6-7 hours for approving bills of COVID-19 patients as it delays their discharge from hospitals and those in need for beds have to wait longer.

A bill to increase foreign direct investment (FDI) in the insurance sector from 49 per cent to 74 per cent was approved by Parliament with the Lok Sabha giving green signal to the legislation by a voice vote on Monday.

Finance Minister Nirmala Sitharaman said on Monday that raising the FDI limit in the insurance sector to 74 per cent was necessary to help insurers deal with issues concerning financial stress.

Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.

The FRDI Bill seeks to offer a bail-in clause to banks, which many fear will be detrimental to depositors.

As per BBPS website, the facility would be expanded to include other types of repetitive payments like insurance premium, mutual funds, school fees, EMIs, and municipal taxes, among others.