Govt. guideline for payment of difference between compounded interest & simple interest on loans
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Health insurance scope to get wider but premiums may increase from October 2020
The health insurance premiums are likely to increase from October on account of new standardized clauses, say insurance experts. These new clauses will be incorporated in the new policies filed by insurers on or after October 1, 2020, and for existing products which are due for renewal from April 1, 2021. The health insurance premiums are likely to increase from October on account ofnew standardized clauses, say insurance experts. These new clauses will be incorporated in the new policies filed by insurers on or after October 1, 2020, and for existing products which are due for renewal from April 1, 2021. The main aim of standardization is to help consumers in buying insurance, in a way making it easier to understand the terms and conditions. However, that will come at a cost. “By paying little extra premium, health insurance products will become more inclusive, less complicated and more attractive for customers,” says Nirmal Bhattacharya - Chief Underwriter, Universal Sompo General In...
Govt to implement four new labour codes by April
NEW DELHI : Giving a definite roadmap, the union government Wednesday said it will implement all the four labour codes by April 2021, and has now asked states to hasten the process, so that labour reforms can be implemented faster across the country. Union labour secretary, Apurva Chandra said Wednesday that rule making process is in full swing and the labour ministry will finalize the labour code rules by 15 November. Rules are key part of an Act and are prepared after a bill is passed in the parliament and work as its implementation vehicle. “We intend to implement all the four codes by April. We are finalizing the rules for all the four codes by 15 November. It’s a stiff deadline but we are for faster implementation of reforms approved by the parliament," said Chandra, who is the new labour secretary and will play a key role in implementing the labour reforms. “We will upload all the rules of the codes and seek stake holders engagement for 45 days. Based on the feedback, fi...
