ULIP norms revised
New Delhi, Dec. 21: The Insurance Regulatory and Development Authority today issued new guidelines on unit-linked life insurance plans (ULIPs), which mandates a minimum insurance cover and allows only partial withdrawal of money. The guidelines are intended to ensure greater transparency and understanding of these products to the insured. It proposes to extend the minimum insurance cover to be offered under the products (except for pension and annuity products) and implement certain prudent practices on other features of ULIP products like partial withdrawals and top-up premiums to offer more flexibility and long-term protection to the insured.
Mumbai, Dec. 21: Bombay High Court will hear tomorrow a petition filed by NTPC seeking an interim relief against Reliance Industries, which is seeking changes in the gas sales and purchase agreement.
New Delhi, Dec. 21: General Motors India will raise prices of the Chevrolet Tavera by Rs 4,800 to Rs 8,700 across all variants with effect from December 24.
New Delhi Dec. 21: Indian Oil Corporation Ltd will raise a syndicated term loan of $300 million from foreign banks.
Mumbai, Dec. 21: Dabur India Ltd has approved a 1:1 bonus issue for existing shareholders.