Can back dating be the right practice for buying insurance?

The back dating in insurance is the common practice and there is nothing wrong in doing so. The insurance companies offer this service to its client as the legal offering and may also benefit the policy holders to some extent. The back dating is possible with insurance and may be the great advantage if it was also available in other investment markets. Though, it sounds really good, this is not practically possible. The insurance companies have come up with many plans that allow the policy buyer to get the insurance policy of any date in the current financial year. This

IDFC and India Post will soon be in the banking sector

The Indian banking sector will soon see two new entrants in the banking sector as Central Bank will soon clear the banking licenses for IDFC and India Post. The said organisations will soon extend their services in banking as they have already been successful in procuring the license from RBI for the same. The report regarding the eligibility of these two organisations for coming up with banking services has already been prepared by the committee that was chaired by the former RBI governor and the same has been submitted to the Central Bank for further scrutiny and processing. The report

Your medical insurance may soon cover outpatient expenses

Now you can go to your medical practitioner for outpatient treatment and may be you get the expenses paid up by the health insurance provider as per the new insurance policy which may soon come into existence. This OPD cover will be offered by the public sector general insurance companies along with the private sector general insurance companies. The cover may be extended worldwide and the policy holder can put up a claim even while travelling overseas. The medical insurance till date has covered the policy holders against the expenses incurring from hospitalisation, surgeries and critical illnesses. The outpatient expenses

Protect yourself against credit card fraud with these tested tips

Credit card frauds have become quite common as mostly people use credit card at various big and small shopping joints. The use of credit card is quite prevalent for shopping at saloons, grocery stores, super markets, fuel stations and most commonly for online shopping. The use of credit card has made life easier for the shoppers but at the same time it has increased the risk of fraudulent use of credit card by hackers. You can’t stop using your credit card because of this risk but yes you may check the following tips to protect yourself against any fraud. Register

Say no to car loan rejection – Select the right bank for your credentials

The car loan has now become the integral part of the routine expenses for any household. The banks have made car loan cheaper and the criteria for offering the loan have been mad liberal so that this loan can be availed by the people falling into various classes of society. One car per house has become quite common with this easy car loan options. Though the things are now quite simple, the chances of car loan rejection are still there. If you are salaried or business owner and you want a car loan then make sure that you consider following

United Bank of India may son merge into Union Bank of India owing to bad debts

The United Bank of India that has already undergone lots of speculations owing to bad debts have now been expected to soon merge into Union Bank of India as depicted by the sources. This merger would be an act to bail out the bank against the bad debts that are expected to be about Rs. 8,546 crores. The above merger would take place as a part of capital infusion carried out by government. The non-performing assets of United Bank of India grew abnormally under the chairmanship of Managing Director and Chairperson Archana Bhargawa. This merger has followed as a result

Bad loans may make the future worse for United Bank of India

United Bank of India that has 100 years old rich history may go through a very rough patch in coming times owing to bad loans. The banking sector has found it difficult to combat the downfall caused by bad loans and the same may make it difficult for United Bank of India to sustain. The current banking sector works on market driven structure and the weak capital structure will leave no room for certain banks. The Kolkata Bank is suspected to have undergone the sudden downfall not just because of the weak capital structure or bad loans but it is

Last quarter experiencing hick-ups in insurance sale due to revised insurance regulations and commissions

Last quarter of the fiscal year is always a season for insurance sale as most of the tax payers start hunting for the investment schemes to save their tax. This year the scenario has changed as the insurance companies have come up with revised commission structure for their sales team and the regulations have also been amended by the insurance providers. The insurance sales force which is always on its toes and has been considered the most pro-active sales force is now quite slowed down as they have non-lucrative commission structure. The insurance is found to be the best investment

Insure your home loan to secure your home against unfortunate event

Home loans are meant to build the dream home which is otherwise unaffordable. The home loans are made affordable by the banks and that is the reason why home buyers opt for bigger EMIs that cover more than 50% of their monthly income. This is quite a big amount and hence it is important to insure the home loan as well. The home loan insurance is offered by many private and public sector banks at affordable premium. The home loan insurance can be availed for constant sum assured or reducing sum assured. The constant sum assured will remain the same

SBI targets the existing borrowers and the new borrowers with the low interest rates on home loans

The home loan war has begun with the banking giant SBI reducing the home loan interest rates for the new borrowers as well as the existing borrowers of the rival home loan providers. This public sector bank has already started campaigning to the new home loan borrowers about the reduced home loan rates. The bank has this time decided to target the home loan borrowers with their rival banks too. Their campaigning in this segment would be directed for the customer segment achieved from home loan transfer from the rival bank to SBI. The bank has taken this quite seriously