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Indian regulators always wake up after consumer complain and shout of injustice. Likewise, IRDA is no exception. located at Mumbai and Thane have observed a surge in disputes over medical insurance claims because insurance companies are rejecting claims on the basis of ‘pre-existing illnesses’. As per the regulation, when an applicant takes a medical insurance … Read more IRDA to define pre-existing illness for Customer’s benefit
Jindal Saw (JSL), part of the fourth largest industrial house in India Jindal Group, has said that it has received orders for supply of large diameter pipes and ductile iron pipes from domestic as well as overseas customers, valued at over Rs 1,000 crore. The domestic orders have been received from state-run Gas Authority of … Read more Jindal Saw wins orders from domestic & overseas mkts
For the week ending 6 Jun ’09, headline inflation (wholesale price index, WPI) was -1.61%. This is the first time since Dec ’78 that WPI inflation has turned negative. WPI for the week ending 11 Apr ’09 was revised to 0.96% from 0.26%. Primary articles fell due to a sharp fall in the prices of … Read more India Economy – Inflation – Deflation vs. hyperinflation
The country’s leading steel manufacturer, Tata Steel, has increased prices of hot-rolled steel products by Rs 500 to Rs 750 per tonne in few select provinces on monthly contracts with retrospective effect from June 1, 2009. The move has been triggered by the revived demand for the steel products in the local markets, mainly from … Read more Tata Steel increases price of hot-rolled steel – Begins the Regime of Lobby in Congress Government
Birla Sun Life Insurance, a private insurance company, is planning to launch a new term insurance plan for people with healthy lifestyles. The term policy offers only life protection cover for a fixed period. Till date, an insurer used to load the premium if the policyholder was suffering from smoking or drinking addiction, blood pressure, … Read more Birla Sun Life to launch new term insurance plan
The telecom service provider, Idea Cellular has collaborated with telecom equipment manufacturer Nokia Siemens Networks (NSN) to upgrade former company’s network in 22 service areas in India. In order to upgrade Idea’s existing network, NSN will use GPRS (general packet radio service) technology and its unified charging solution. Due to this Idea will be able … Read more Nokia Siemens will upgrade Idea’s 22 service areas in India