Pension plan for unorganised sector sees only 5 mn subscribers in 5 years
 

Shriram General Insurance posts 34% growth in gross direct premium underwritten in FY24
Chennai: Shriram General Insurance Company outlined its five-year growth plan, aiming to grow the share of the non-motor business from 8.5 per cent now to 15 per cent, while increasing the number of agents from 69,000 to 2 lakh. The expansion strategy includes deeper penetration into small towns and rural areas to target the uninsured population.

Five out of 10 patients face discharge delays due to medical insurance claims processing time
New Delhi: A new study by Pristyn Care found that five out of 10 patients face delays in discharge due to the time taken to process medical insurance claims. To alleviate the hassle experienced by health insurance policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) is likely to introduce a 100 per cent cashless hospital network that will include both empanelled and non-empanelled hospitals.

The study indicates that over 40 per cent of individuals attribute delays in health insurance claims in India to hospital administrative processes, while 25 per cent cite a lack of coordination between hospitals and insurance providers. Complex documentation procedures also significantly contribute to these delays. Furthermore, the survey underscores various challenges encountered by patient families throughout the insurance claims process, with nearly four out of 10 respondents reporting difficulties with customer support regarding the claims process.

Sebi bars Growpital, other related entities from securities markets; probe continues
New Delhi: Markets regulator Sebi said that Farm Tech Silo LLP, also known as Growpital, other related entities and their directors will remain barred from securities markets till the outcome of a probe into collection of money through unauthorised investment schemes.

National Pension System: Top 5 changes in NPS rules you must know in 2024
NPS (National Pension System) is an easy-to-invest, tax-efficient retirement scheme. Under the NPS scheme, you and your employer both can contribute to build a corpus for your post-retirement years, ensuring your social security and welfare.

PFRDA implements transparency measures in rule-making process
Pension regulator PFRDA has now implemented a mechanism for making and reviewing regulations, bringing more transparency and certainty in the rule-making process. This mechanism among other things provides that the regulator would be guided by an “economic analysis” of the proposed regulations before they are accepted and operationalised.  The “economic analysis” would include expected direct and indirect costs and benefits to subscribers, the economy, and society, due to the proposed regulation.  Also the “economic analysis” would have to delve into how the proposed regulations would further the objectives of the Act and the cost of not having the proposed regulations. 

Silver ETF gains greater traction as AUM tops Rs 5,000 crore in April
 

Equity fund managers to get sky-high bonuses amid stellar asset growth
Mutual fund houses are likely to dole out higher bonuses and increments this year in a bid to retain and reward top performers. Equity fund managers will be in the spotlight given the fast clip at which assets have grown in the past year, especially for the mid- and small-cap schemes. The managers may pocket bonuses in the range of 80-100 per cent of annual salary, on average, much higher than previous years.

Motilal Oswal Financial Services is offering up to 9.7% on its latest bond issue. Should you invest?
Motilal Oswal Financial Services Ltd (MOFSL) is tapping the bond market to raise up to Rs1,000 crore from non-convertible debentures (NCDs). The bond issue, the first of its kind from Motilal Oswal that offers investors interest of up to 9.7%. opened on 23 April and is set to close on 7 May. The issue is secured and redeemable, rated AA/stable by Crisil Ratings and India Ratings.