Pure risk premium product “Saral Jeevan Bima” life policy offer mandatory for all the life insurance companies

The insurance regulator IRDAI has come out with a standard individual term life insurance product, to be known as “Saral Jeevan Bima”. The policy shall be mandatorily offered by all the life insurance companies from January 1, 2021, onwards. In this respect, all life insurers have to file the product with the insurer latest by…

SC gives November 2 deadline to Centre for an action plan to implement waiver of compound interest

Directing the government to implement the decision to waive “interest on interest” without delay, yesterday the Supreme Court directed the Centre to come back “with an appropriate action plan” on November 2.  The above direction came from Apex court when solicitor general Tushar Mehta, representing the Centre, said the waiver would come into effect by…