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Will ensure banks pass on rate cut benefits to consumer: FM to India Inc

Will ensure banks pass on rate cut benefits to consumer: FM to India Inc

Finance
NEW DELHI: Finance Minister Nirmala Sitharaman has assured that she will ensure banks pass on the rate cut benefits to consumers, so the interest burden on them eases, industry body PHDCCI said on Friday. She was addressing members of the PHD Chamber of Commerce through a video conference here. "Hon'ble @FinMinIndia @nsitharaman assured that she will personally ensure that #banks transfer benefits of the #ratecuts to end consumers at the earliest," PHDCCI said in a tweet. Last month, the RBI slashed the benchmark repurchase (repo) rate, the price at which banks borrow from the central bank, by 40 basis points to a historic low of 4 per cent. RBI Governor Shaktikanta Das had said monetary policy transmission to banks' lending rates has continued to improve. "The 1 year median marginal c...
IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown

IndiaFirst Insurance announces its Business Continuity Plan to ensure smooth operations during Covid-19 lockdown

Finance
Mumbai: IndiaFirst Life Insurance has announced its business continuity plan for the period of lock down imposed by the government for prevention of a Covid-19 in line with insurance regulator IRDAI’s directions. The insurers announced that they will provide grace period for premium dues to policyholders and waive of late penalty fees, among other customer friendly initiatives.The Bank of Baroda and Andhra Bank owned life insurers also said that the all policies issued by the company stands valid even on event of death due to Covid-19 virus. The company has also made all servicing and distribution channels digital as well, it said in a press release.In testing times like these, the safety and well-being of our customers and employees is our top priority. We have moved to a complete work fr