These modifications follow the Insurance Regulatory and Development Authority of India’s (Irdai) master circular on life insurance products (Insurance Products Regulations, 2024). Key changes include reducing the entry age to buy an endowment plan to 50 years from 55. The minimum basic sum assured has been increased to ₹2 lakh from ₹1 lakh with an … Read more
M. Pattabiraman, a physics professor at IIT Madras, teaches complex theories to eager students. Beyond the classroom, he’s also a well-known personal finance figure, with nine of his financial calculators featured on the Securities and Exchange Board of India’s (Sebi) investor education site. Also meet Vijay Malik, a doctor who practised for five years but … Read more
MUMBAI:The account aggregator (AA) framework, regulated by the Reserve Bank of India (RBI), can significantly simplify financial tracking for smaller companies and individuals, according to BG Mahesh, chief executive of Sahmati, at the Mint Digital Summit 2024. Sahmati is a member-driven industry alliance dedicated to promoting and strengthening the AA system. “In offline, the cost … Read more
The document, named “Insurance Regulatory and Development Authority of India (Protection of Policyholders’ Interests and Allied Matters of Insurers) Regulations, 2024″, brings together eight separate regulations into a unified and comprehensive framework. Extended free-look period The free-look period for reviewing policies will be extended to 30 days from the date of receiving the policy document, … Read more