Claim procedure on death of the depositors of Small Savings Schemes like SB, RD, TD, MIS, etc. To make the process of claiming money from the various post office small savings schemes such as Post Office Monthly Income Scheme (PO-MIS), Post Office Recurring Deposit, Term Deposits, and claim procedures of Public Provident Fund (PPF), National…
Edited and republished on April 1,2021 Last evening, in a massive blow to middle-class depositors, on the last day of the financial year, the government had announced a huge cut in interest rates of small savings scheme such as PPF, NSC and other post office deposits up to110 basis point for the first quarter of…
May be all of us know the meaning of a nominee of the life insurance policy. Nominees of insurance policies are merely designated trustees acting as receivers of insurance proceeds on behalf of the policyholder’s legal heirs. In the other words, while the insurance company has to hand over the death benefit to the nominee,…
The subscription for the twelfth tranche of the Sovereign Gold Bonds (SGBs) scheme, the 2020-21 Series XII, opens March 1, 2021, and will close on March 5. The SGBs will be allotted on March 9. Issue price : Rs 4,612 (per gram of gold) for those investors applying online and the payment against…
RBI on Friday announced that Sovereign Gold Bond Scheme 2020-21 – Series XI will be open for subscription from February 01, 2021, to February 05, 2021. The nominal value of the bond is fixed at Rs.4912 (Rupees Four thousand nine hundred and twelve only) per gram of gold.The investors who will be applying online and…
The subscription for the tenth tranche of the Sovereign Gold Bonds (SGBs) scheme, the 2020-21 Series X, has opened on January 11, 2021, and will close on January 15, 2021. The SGBs will be allotted on January 19, 2021. Issue price : Rs 5,054 (per gram of gold) for payment through digital mode. Government of…
Updated 01.01.2021 The Finance Ministry of Government of India on December 31 said in a statement, “The rates of interest on various small savings schemes for the fourth quarter of 2020-21, starting from January 1 and ending March 31, 2021, shall remain unchanged from those notified for the third quarter (October to December). The interest…
The Sovereign Gold Bond Scheme 2020-21 – Series IX will be open for subscription for the period from December 28, 2020 to January 01, 2021. The nominal value of the bond based on the simple average closing price [published by the India Bullion and Jewellers Association Ltd (IBJA)] for gold of 999 purity of the…
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…
The Insurance Regulatory and Development Authority of India (IRDAI) has issued guidelines to all General and Health Insurers offering indemnity-based Health Insurance products for both Individuals and Groups (excluding PA and Domestic / Overseas Travel). These provisions and guidelines were issued by IRDAI under the provisions of Section 34(1) of the Insurance Act, 1938, and…