Question
What is the primary purpose of the Insurance Regulatory
and Development Authority of India (IRDAI) approving the reduction of interest rates for revivals or policy loans?Solution
The Insurance Regulatory and Development Authority of India (IRDAI) approved the reduction of interest rate for revivals or policy loans, among others. These are applicable to existing policies that were closed for new business but still exist on insurers' books The alterations are introduced to give additional benefits and flexibility to existing policyholders, ensuring they are not adversely impacted. The insurance regulator has decided to allow the addition of existing riders which are open for sale, the addition of premium payment modes, reduction in interest rate for revivals or policy loans, and the addition of one or more payment frequencies to income benefits payable to policyholders.
A supply comprising of two or more supplies shall be treated as the supply of that particular supply that attracts the highest rate of tax.
Tangible property to be consumed in production of goods or services or held for sale in the ordinary course of business is defined as:
In international wire transfers, which role does a SWIFT Code play for the sender and the beneficiary?
What is a primary condition under RBI guidelines for REs when onboarding non-resident customers with limited KYC documentation?
GeM is characterized by which of these three core elements?
A fire loss incurred but not reported by balance sheet date is classified as:
Revenue should be recognized at the point of sale. Which principle is applied here?
ARP is a manufacturing concern. They come to you with following the details:
Variable Cost: ₹ 50,000
Fixed Cost: ₹ 20,000
Selli...
The CIBIL MSME Rank (CMR) is a credit score that helps lenders assess the risk of lending to MSMEs. What is the scale used for CMR?
A software company enters into a ₹10 lakh contract including installation and training. Installation is ₹8 lakh and training ₹2 lakh. Installation...
