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INSURANCE POLICY FRAUD
He trusted Canara Bank for 31 Years, then was sold a life insurance plan that pays at age 93; IRDAI orders Rs 4 lakh refund and ₹1 crore fine for mis-sellingIRDAI has imposed a ₹1 crore penalty on Canara HSBC Life Insurance Company over the sale of a deferred annuity policy to an 88-year-old cus...- NPCI announces MDR for UPI; merchant transactions above Rs 2,000 to attract 0.4% chargeWhile NPCI has not specified a threshold based on the size of a merchant’s turnover, it said in its announcement that vendors operating und...
- UPI charges from October 15: FAQs on who will pay 0.4% MDR and what consumers, small vendors & large merchants need to knowUPI Payment: UPI transactions up to Rs 2,000 will remain free for all users. A new Merchant Discount Rate (MDR) will apply to specified mer...
- AI at population scale: Rahul Chari’s charter for the next 300 millionAt Global Fintech Fest 2026, PhonePe co-founder and CPTO Rahul Chari laid out an AI philosophy built on intent-led experiences, engineering...
- BRICS adopts New Delhi Declaration: Inside the 140-point document on Global South's ambitionsBRICS leaders adopted the New Delhi Declaration at the 18th summit, reaffirming their commitment to cooperation, multilateralism and a more...
- Credit card lost, and someone used it; who will cover the lost money - you or the bank?What if a transaction takes place after you lose your card, and you don’t block it before that? Who has the liability then - you or the ban...
- GFF 2026: PM Modi asks fintech industry to turn agentic AI, tokenisation, quantum potential into real-world impactPrime Minister Narendra Modi inaugurated the Global Fintech Fest 2026 in Mumbai. He urged the fintech industry to convert new possibilities...
- Public Insurance Registry: From tracking policies to improving claim processing, how PIR could benefit policyholdersIndia's Insurance Regulatory and Development Authority of India (IRDAI) has introduced a groundbreaking Public Insurance Registry aimed at ...
- Rs 15 lakh fraud money credited to senior citizen’s account, police wanted to question him; HC grants anticipatory bail on this groundCriminals deposited Rs 15 lakh in senior citizen’s bank a/c; police wants to question him; HC grants anticipatory bail and observes mere de...
- UpGrad completes Unacademy acquisition; Ultrahuman’s $60 million raiseUpGrad has completed its acquisition of Unacademy, marking the close of a major consolidation in India’s edtech sector. This and more in to...
- Semicon 2.0 takes shape; Zomato’s Hyderabad layoffsThe government has notified Semicon 2.0 to boost India’s semiconductor ecosystem. This and more in today's ETtech Top 5.
- Health insurance during pregnancy: When unrelated illnesses can lead to claim rejectionWithout maternity cover, pregnancy-related complications aren’t covered, but disputes can arise over whether the exclusion extends to unrel...
- Insurer rejected Rs 50 lakh claim after man’s death; consumer panel finds insurer at fault, orders full payout with 6% interestInsurer rejected Rs 50 lakh claim after man’s death: A consumer commission has directed Cigna TTK to pay Rs 50 lakh after finding that the ...
- SC ruling may widen motor insurance cover for vehicle occupants, pillion ridersMotor insurance policyholders will receive broader occupant protection following a Supreme Court ruling. The court directed the insurance r...
- Motor insurance bills could feel the pinch as insurers crack down on third-party fraudMotor insurers are intensifying efforts to curb third-party claim fraud as rising court awards and more uninsured vehicles increase pressur...
- Household savings rise to 21.7% of GDP in FY25: GovtHousehold savings increased to 21.7 percent of GDP in 2024-25. Government and RBI measures aim to boost incomes and financial security. RBI...
- Surrender and withdrawals as a share of total benefits paid by life insurers rise to 39%Surrender and withdrawal benefits paid by life insurers have increased significantly. These benefits now exceed maturity benefits paid by t...
- Tata AIG rejects stolen bike's insurance claim over delayed FIR: Court says police delay can't cost a policyholder his compensation; orders insurer to pay over Rs 2 lakhTata AIG rejects stolen bike's insurance claim over delayed FIR: Tata AIG General Insurance ordered to pay over Rs 2.19 lakh by a Visakhapa...
- Don't put a toll on UPI: Why merchant discount rate isn't the answerA proposal to introduce a merchant discount rate (MDR) on UPI transactions above ₹2,000 for businesses with annual turnover of ₹1-1.5 crore...
- HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairmanHDFC Bank received RBI approval for Rajiv Kumar's appointment as part-time chairman. His three-year term as chairman will begin on July 15,...
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