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Medical insurance policies may cover pre-existing diseases KOLKATA: Medical insurance policyholders can now rejoice. Insurance companies are reviewing claims settlement norms in case of pre-existing diseases. This means, insurers may soon no longer deprive mediclaim holders of claims under the...

SBI Life launches group insurance scheme BANGALORE: SBI Life Insurance (SBI Life) announced the launch of its Super Suraksha Group Insurance Scheme for deposit account holders of the State Bank of Mysore (SBM) on Friday. Under this scheme, SBI Life will provide life insurance protection to...

Australian pension funds may invest Rs 1,300 cr in KGPL MUMBAI: Four Australian pension funds — Westscheme, Statewide Superannuation Trust, SAS Trustee and Public Officers Superannuation Fund — are in advanced talks to invest over Rs 1,300 crore in Konaseema Gas Power (KGPL), a gas-based power...

Union Bank of India plans to add 200 branches this fiscal MUMBAI: Public sector lender, Union Bank of India (UBI), on Tuesday said that it plans to add more than 200 branches during the current fiscal. On an expansion drive and having opened 124 branches last fiscal, UBI has chosen the...

New India Insurance Company officials arrested for corruption JABALPUR: Three officials of New India Insurance Company were arrested by the CBI on corruption charges. According to CBI Superintendent R Raju, the company's divisional manager Kuntal Chakraborty and branch manager Anand Bihari...

Indian Bank Jul-Sep net profit up 46% MUMBAI: Indian Bank has posted a net profit of Rs 247.60 crore for the quarter ended September, a growth of 46.34 per cent from Rs 169.19 crore recorded year earlier. Total income has risen from Rs 1,176.31 crore in the year-ago quarter to Rs 1,493.14...

For a change, both lenders and borrowers willing to float MUMBAI: For years when bankers offered floating rate loans, corporate borrowers haggled for fixed loans. It was the other way round when banks insist on a fixed rate. Now, for the first time, lenders and borrowers are thinking alike on...

IDBI reduces floating home loan interest rate by 0.50 per cent MUMBAI: IDBI Bank has reduced its home loan floating interest rates by 0.50 per cent to 10.50 per cent. The new rate will be applicable on fresh home loans disbursed between October 12 and December 31, the bank said in a press...

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Health insurance scheme for BPL families launched NEW DELHI: The government on Monday formally launched a health insurance scheme for families in the unorganised sector living Below Poverty Line (BPL). Announcing the launch of the Rashtriya Swasthya Bima Yojana, Finance Minister P Chidambaram...

Common man's insurance scheme launched SHIMLA: The common man's insurance, dubbed "Aam Aadmi Bima Yojana", was formally launched in Shimla on Tuesday by Finance Minister P. Chidambaram. "'Aam Aadmi Bima Yojana' is a social security scheme which shall cover head of the family or one earning...

Gunning for cover If you have a raging romance with Walther P99s, Beretta AR-70 /90s, Smith & Wesson .357s and the likes, go ahead and take aim. But before you get trigger-happy, spare a thought — does your prized possession have an appropriate cover? For those not in the know, gun insurance...

Banks find way to save CAR monies NEW DELHI: Banks are looking at introducing a clause, unconditionally cancellable, into loan contracts that will exempt them from allocating capital against the loan amount still to be drawn. The clause will also give them the right to cancel disbursement...

Banks’ deposit rate offers keep govt on alert MUMBAI: There is a growing concern in the government over banks offering high rates to mop up deposits. The finance ministry this week has asked public sector banks (PSBs) to give details on their deposits structure — the tenure of the liability...

Centre wants MRPL to help clear Cairn crude oil bloc NEW DELHI: Uncertainty over the evacuation of crude oil to be produced by Cairn in its Rajasthan block may be over soon. The government has asked Mangalore Refinery & Petrochemicals (MRPL) to explore the possibility of lifting the crude...