New Premium chart for Group Medical Insurance Policy 2021-22 for Bank Retirees
National Insurance Company has sent their revised rates for Flexible Option coverage of Sum Insured. There is also an option to choose Self + Spouse or Self alone (in the case of single-person coverage). However, if the retired employee and his/her spouse both are alive then in such case family floater premium has to be…
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The difference between ETF and Index Funds explained
The basic idea in both the cases of ETF and Index Funds is to mirror the index and give returns that are closely aligned to the index returns. Let us now study how are they different? The ETF funds are more or less comparable to mutual funds in terms of their structure, regulation, and management.…
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The difference between Gold ETF and Sovereign Gold Bonds (SGBs) explained
Both Gold ETF and Sovereign Gold Bonds (SGB) serve as alternate options to traditional investment in physical gold. Creation: Gold ETF units are created and backed by mutual funds. The physical gold acquired by the Fund is stored in vaults of custodian banks and works as the underlying from which the units derive value. The…
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AIBPARC appeals to CMD of National Insurance over the excessive hike of premium for Bank retirees’ medical insurance
Today, the All India Bank Pensioners’ and Retirees’ Confederation (AIBPARC) wrote a letter to the CMD of National Insurance company Limited over an excessive hike of premium for Bank retirees’ medical insurance. The letter invited the attention of the Chairman of the insurance company that the NICL has been selected through the process of RFP…
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Revised Premium for Group Medical Insurance for Bank Retirees for the year 2021-22
On Friday (September 17), IBA has advised MDs and CEOs of member banks (party to 11th BPS & 8th Jt.Note) about the premium payable by bank retirees for the Employees Group Medical Insurance Policies for the year 2021-22. “The renewal quotes of premium to be paid arrived at through the REP process and approved thereafter…
NPCI introduces guidelines for banks to compensate AePS fraud victims
The National Payments Corporation of India (NPCI) has introduced detailed guidelines for banks to redress frauds perpetrated on customers and merchants where a misuse or an error in biometric data or UIDAI seeding on Aadhaar Enabled Payment System (AePS) have led to a loss of funds. The new rules effective from September 1, determines with…
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