Provident Financial News

health insurance has become a must. Many of you have already purchased a health insurance policy to protect yourself and your loved ones against medical emergencies. One hopes that the insurer will provide financial support when the medical need arises. The story is not very different when it comes to another general insurance segment like car insurance. However, do you know how good your insurer is in settling claims and how long it takes for your health or general insurer to settle claims? Or how many claims did they reject last year? It is important to keep track of the claim settlement performance of your insurer. If you are not satisfied with the way the insurance company settles claims, you have the option to port to another insurer. The next question is how to find out how your insurer has been settling claims in the past. The Insurance Regulatory and Development Authority of India (IRDAI) has released the claims payment details of general and health insurance companies for the financial year 2022-23. Apart from health insurance claims, the percentage claim paid in general insurance companies also includes other insurance verticals like motor, fire, marine, and other insurances.

₹50,206 crore through auction of state government securities, marking the largest such weekly borrowing ever, according to market experts. In March 2023, 16 states had raised ₹41,213.72 crore through the auction of the State Development Loans (SDL) conducted by the Reserve Bank of India (RBI). The funds raised on Tuesday exceeded the indicative calendar amount of ₹27, 810 crore set for the period, according to RBI data.

HOUSTON—Bobbie Hines has been living in her modest home in southeast Houston for 56 years. But these days, she’s struggling more than ever to afford groceries and pay for mounting medical expenses. “Everything is so expensive," said Hines, 83 years old, a retired crossing guard.

Initiated in 2018 by the Rustomjee Group in South Mumbai, this project underscores the company's unwavering dedication to excellence and timely delivery. In August 2023, part Occupation (OC) was secured for 'Tower A', comprising 182 residences. As of March 2024, all 186 homes within Tower A have obtained their OC.

Most analysts and experts view this as an optimistic sign. After all, increased individual investor activity in the markets — particularly in volatile segments like the options and futures market — may indicate more disposable capital in the hands of the average Indian trader.However, a parallel narrative runs alongside this favourable development — where traders are often perceived (and misunderstood) as gamblers who are only looking for an opportunity to earn a quick buck.

—Name withheld on request In estate planning, individuals can take proactive steps to avoid common mistakes and ensure their assets are distributed as intended. Updating beneficiaries is crucial to reflect life changes accurately. For instance, failing to update beneficiaries after a divorce could result in assets unintentionally passing to the former spouse instead of current beneficiaries.

Caprock, a prominent multifamily office RIA offering specialized services to ultra-high-net-worth individuals, marked a milestone in its growth story with its first-ever acquisition. The firm announced that it has snapped up Grey Street Capital, a boutique advisory firm based in Chicago with $2.2 billion in client assets.

Crypto trading platform Bakkt announced Monday that Andy Main will take over as President and CEO. He will replace Gavin Michael, who is leaving for new opportunities.

The face and former CEO of the world’s largest crypto exchange Binance – Changpeng Zhao, aka CZ – has launched his new venture dubbed ‘Giggle Academy.’

At a time of high joblessness, stagnant real rural income and slackness in consumption demand, the pensioners are facing the problem of higher rejections in the settlement of their employees’ provident fund (EPF) claims.

S4Capital’s operating brand Media.Monks has launched Persona.Flow, a professional managed service for brand marketers. Persona.Flow is an expansion of the existing Monks.Flow service, designed to address a unique need within enterprise AI workflows. It converts owned customer data into dynamic consumer personas, enabling real-time interaction for marketers and enhancing their speed to market.

Senior citizen fixed deposits (FDs), specifically tailored for individuals aged 60 and above, offer attractive interest rates and various benefits. However, before diving into this investment avenue, it’s crucial to understand the nuances and considerations associated with senior citizen fixed deposits.

India is hailed as the third largest fintech ecosystem in the world with over 10000 FinTech firms in the country. The fintech adoption rate in India is 87% which is way above the global average of 64%. On top of that, the value of India’s Financial Inclusion Index is 60.1 as against 56.4 in the previous year. Yet, India is severely credit underpenetrated. The credit card penetration is estimated at around merely 5.5% of the population and even India’s domestic credit to the private sector at 55% of GDP in 2020 is remarkably below the world average (148%), and lowest among its Asian peers — China (182%), South Korea (165%), and Vietnam (148%).

Hero Electric, Okinawa Autotech, and Benling India have allegedly failed to repay the subsidies they claimed incorrectly. Livemint could not independently verify this news.

Rent payments do not typically influence your credit score unless they are reported to the credit bureaus such as CIBIL, Equifax or Experian. 

What is a fixed deposit (FD)? A fixed deposit is an investment where you deposit a lump sum of money with a financial institution for a set period. In return, you earn a guaranteed interest rate that remains fixed throughout the investment tenure. At the end of the tenure, you receive your principal amount along with the accumulated interest.

Mumbai blasts. “The emerging gangster-Pro-Khalistani Elements (PKEs) nexus is akin to the scenario that existed in Mumbai in the early ’90s,” the NIA has observed in multiple charge sheets. The two main gangs at loggerheads now are those of Lawrence Bishnoi and Kaushal Chaudhary, similar to the rivalries of underworld dons Dawood and the now jailed Chhota Rajan. The federal agency is investigating more than a dozen cases involving terrorist-gangster syndicates and PKEs and have arrested more than 45 suspects. However, foreign handlers in Canada, United States, Australia, Dubai and the United Kingdom continue to remain at large. ET joins the dots. Lawrence Bishnoi gang Jailed Lawrence Bishnoi is said to be the mastermind who brought together the criminal gangs of Punjab, Haryana, Uttar Pradesh, Rajasthan, Delhi and Chandigarh. “The growth of Lawrence Bishnoi and his terror syndicate has tremendous similarities to the rise of Dawood Ibrahim, a wanted terrorist, gangster and drug kingpin who heads the notorious organised terror syndicate D-Company,” as per the NIA.

ASK Hedge Solutions, a subsidiary of Blackstone-backed ASK Asset and Wealth Management Group, announced the launch of its first long-short fund — ASK Absolute Return Fund. It an open-ended Category III Alternative Investment fund, looking to raise Rs 3,000 crore, with approximately Rs 1,000 crore in the next 6 months. Vaibhav Sanghavi and Piyush Shah will be the fund managers.

Sukanya Samriddhi Yojana Account (SSA) is designed to provide a bright future for your girl child and to promote welfare of Girl Child. Interest rate on Sukanya Samridhi Yojana (SSY) is revised every quarter by the government.

H-1B cap season for fiscal year 2025 is in full swing in the United States, with registrations now open and scheduled to close on March 22. However, the application procedure has undergone significant changes, making it crucial for employers and applicants to understand the new process thoroughly. The H-1B programme allows US employers to temporarily hire foreign workers in highly specialised technical occupations, including architecture, engineering, social sciences, medicine, education, mathematics, law, accounting, business specialities, arts, and others.

Stock market today: Popular Vehicles share price today listed on BSE and NSE in a special pre-open session. Popular Vehicles share price today opened on BSE at ₹292 apiece whereas, on NSE, Popular Vehicles share price is listed at ₹289.20 per share. After the discounted listing of JG Chemicals IPO, RK Swamy IPO, and Gopal Snacks IPO, Popular Vehicles and Services IPO is the fourth straight mainboard IPO that is listed at a discounted price.