Tech

“Mumbai rains: City on yellow alert, gets 100 mm rainfall in last 24 hours.”

The rains have caused flooding in some parts of the city, and there have been reports of power outages. The authorities have advised people to stay indoors and avoid travel if possible. They have also asked people to be careful of falling trees and electric wires.

Published

2 months ago

July 20, 2023

Image of people wading through floodwaters in Mumbai

Mumbai rains: City on yellow alert as it receives 100 mm rainfall in the last 24 hours. The India Meteorological Department (IMD) has forecast more rains in the next few days. The city has been placed on yellow alert, which means that there is a possibility of heavy rainfall. The IMD has also warned of thunderstorms and lightning.

Introduction

Mumbai, the financial capital of India, is experiencing heavy rainfall since Monday, July 18, 2023. The India Meteorological Department (IMD) has issued a yellow alert for the city, indicating the possibility of heavy rainfall, thunderstorms, and lightning.

Flooding and power outages have been reported in some parts of the city, urging people to remain indoors and avoid unnecessary travel. The authorities are also cautioning citizens about potential dangers like falling trees and electric wires during this period.

Impact of the Rains

The relentless rains have significantly impacted Mumbai. Flooding has caused extensive damage to both property and infrastructure, while power outages have disrupted daily lives. Waterlogged areas have made commuting difficult, leading to frustrating traffic jams and delays.

The city’s economy has taken a hit as well. Businesses and schools have been affected due to the disruptions caused by flooding and power outages. Additionally, the challenges in commuting to work have impacted productivity.

**Image of a traffic jam in Mumbai due to heavy rains: Traffic jam in Mumbai due to heavy rains**

Response of the Authorities

In response to the heavy rains, authorities have deployed teams to address water-logging and clear traffic jams. Relief centers have been set up to assist those displaced by the flooding. Citizens are urged to stay indoors whenever possible to ensure their safety.

Safety Tips During Mumbai Rains

To stay safe during the Mumbai rains, follow these essential safety tips:

Remain Indoors: Whenever possible, avoid unnecessary travel and stay indoors until the situation improves.
Beware of Hazards: Be cautious about falling trees and electric wires. Report any such incidents to the authorities promptly.
Report Damages: If you encounter damage to property or infrastructure, inform the relevant authorities immediately.
Take Precautions While Traveling: If you must travel, wear appropriate rain gear and stick to elevated surfaces.
Stay Aware and Prepared: Be mindful of your surroundings and prepare for potential flooding in low-lying areas.
Avoid Flooded Areas: If caught in a flood, move to higher ground and steer clear of downed power lines.

Conclusion

Mumbai’s heavy rains have left a significant impact, causing damage to property, infrastructure, and disruptions to daily life. The authorities have responded swiftly by deploying teams and setting up relief centers to aid affected individuals.

During this period, prioritize safety by staying indoors, being cautious of potential hazards, and promptly reporting any damages. Remember to take necessary precautions if you need to travel.

Stay safe, follow the guidelines of the authorities, and protect yourself and your community during the Mumbai rains.

Tech

Life Insurance Companies in India with the highest rate of settlement for claims.

Published

2 months ago

July 26, 2023

Life Insurance Companies in India with the highest rate of settlement for claims.

Table of Contents

| Life Insurance | Companies | India | highest rate | settlement | claims |

When selecting an insurance policy for life One among the primary aspects to think about are the settlement percentage that the insurer has. The ratio of claim settlement is the proportion of claims accepted through an insurance firm. A high rate of settlement suggests that an insurance provider will be more inclined to settle your claim in the event that you require it.

Here are the top 10 life insurers from India that have the best rate of settlement for claims:

Max Life Insurance Max Life Insurance company logo

Max Life Insurance has the most high claim settlement ratio in India as it has an average of 99.35 percent for the financial year 2022-23. Max Life Insurance has been paying claims with a high percentage for a long time.

Aegon Life Insurance Opens in a new windowwww.justdial.com Aegon Life Insurance logo

Aegon Life Insurance a second life insurance provider with high claims settlement ratio. The company’s claim settlement rate for the period 2022-22-23 stood at 99.25 percent.

Bharti AXA Life Insurance Opens in a new windoweconomictimes.indiatimes.com Bharti AXA Life Insurance company logo

Bharti AXA Life Insurance has an average claim settlement rate of 99.05 percent for the financial year 2022-23. The firm is known for its focus on the customer and commitment to pay out claims on time.

Life Insurance Corporation of India (LIC) Opens in a new windowen.wikipedia.org Life Insurance Corporation of India (LIC) corporate logo

LIC is the biggest Life insurance provider in India and has an average claim settlement rate of 98.74 percent for the fiscal period 2022-23. LIC is a state-owned business and is well-known as a stable financial institution and dedication to settlement of claims.

Pramerica Life Insurance Opens in a new windowwww.thehindubusinessline.com Pramerica Life Insurance company logo

Pramerica Life Insurance has a claim settlement ratio of 98.61 percent for the fiscal year 2022-23. Pramerica Life Insurance has been formed as a joint venture of Prudential plc and MetLife, and is known for its ingenuity and commitment to providing excellent customer service.

Exide Life Insurance Opens in a new windowen.wikipedia.org Exide Life Insurance company logo

Exide Life Insurance has a rate of settlement for claims of 98.54 percent for the fiscal year 2022-23. The company is renowned for its low-cost products as well as its extensive range of agents.

Kotak Mahindra Life Insurance The game is now available on a new windowsugermint.com Kotak Mahindra Life Insurance company logo

Kotak Mahindra Life Insurance has an average claim settlement rate of 98.50 percent for the financial period 2022-23. The company is renowned for its digital-first strategy and its dedication to offering outstanding customer service.

Reliance Nippon Life Insurance Opens in a new windoweconomictimes.indiatimes.com Reliance Nippon Life Insurance company logo

Reliance Nippon Life Insurance has claims settlement ratio of 98.49 percent for the financial period 2022-23. It has been formed as a joint venture of Reliance Industries Limited and Nippon Life Insurance which is well-known for its unique products as well as its financial backing.

Bajaj Allianz Life Insurance Opens in a new windowbfsi.eletsonline.com Bajaj Allianz Life Insurance company logo

Bajaj Allianz Life Insurance has the highest claim settlement ratio at 98.48 percent for the fiscal period 2022-23. It has been formed as a joint venture of Bajaj Finserv and Allianz SE and is well-known for its extensive assortment of products and dedication to the satisfaction of its customers.

PNB MetLife Opens in a new windowm.economictimes.com PNB MetLife company logo

PNB MetLife has a claim settlement ratio of 98.17 percent for the fiscal period 2022-23. It has been formed as a joint venture of PNB MetLife and MetLife, and is well-known for its competitive products as well as its solid financial backing.

How to Pick an Life Insurance Company with a High Settlement Ratio

When selecting the life insurance company you choose it is essential to look at the claim settlement rate of the business. It is possible to find the claims settlement ratio of the life insurance company on the official website of Insurance Regulatory and Development Authority of India (IRDAI).

Alongside the settlement ratio, it is important to be aware of other aspects when deciding on the life insurance company you want to go with like the stability of its finances as well as its product offerings and

Tech

10 Top Indian Credit Cards in 2023 at 0% Interest for up to 21 months

Published

2 months ago

July 26, 2023

Yes, this is an article on the 10 top Indian credit cards in 2023, with no charges for up to 21 month:

10 Top Indian Credit Cards in 2023 at 0% Interest for up to 21 months

Credit cards are the perfect option for you to accumulate rewards points, improve you credit scores, and also make purchases. But, they can be costly when used effectively. One method to reduce the cost of credit card is to search for credit cards that provide zero percent interest on purchases for an extended time. This gives you the chance to pay down the balance on your credit card without having to worry about the cost of interest.

Here are ten of the top Indian credit cards in 2023 that will offer no cost of purchases for a period of up to 21 months

1. Axis Bank Buzz Credit Card

Axis Bank Buzz Credit Card

It is the Axis Bank Buzz Credit Card is an excellent choice for those who wish to earn rewards from your everyday purchases. The card gives cashback of 1% on all purchases. In addition, it also comes with a 0 percentage cost of purchase for the initial 21 month period.

2. HDFC Bank MoneyBack Plus Credit Card

HDFC Bank MoneyBack Plus Credit Card

The HDFC Bank MoneyBack Plus Credit Card is a good alternative for those looking to earn rewards from your everyday purchases. The card provides cashback of 2% on purchases of fuel and groceries in addition to an interest-free rate of 0% of purchases in the beginning 21 months.

3. SBI SimplyCLICK Credit Card

SBI SimplyCLICK Credit Card

The SBI SimplyCLICK Credit Card is a great choice for those seeking an easy and simple credit card. It offers the cash back of 1% on all purchases. Additionally, it also offers a 0 percent charge for purchases within the first two years.

4. ICICI Bank Amazon Pay Credit Card

ICICI Bank Amazon Pay Credit Card

The ICICI Bank Amazon Pay Credit Card is an excellent choice for people who buy on Amazon. The card provides cashback of 5% on Amazon purchases. It also offers a zero cost of transactions for the first two years.

5. Citibank Cashback Card

Citibank Cashback Card

It is the Citibank Cashback Card an excellent choice for those looking for an account that offers a range of rewards choices. The card gives cash back of 1% on all purchases. In addition, it also comes with a zero percent cost of transactions for the first two years.

6. Standard Chartered Platinum Edge Credit Card

Standard Chartered Platinum Edge Credit Card

The Standard Chartered Platinum Edge Credit Card is an ideal choice for those seeking a credit card that has a good reward rate. The card gives 2 percent cashback on all purchases and also zero interest when you purchase the card for the first time in 21 calendar months.

7. American Express Platinum Travel Card

American Express Platinum Travel Card

The American Express Platinum Travel Card is a fantastic option for travelers who frequent their travels. It offers a range of benefits for travelers, such as access to lounges at airports along with travel insurance, as well as the absence of foreign transaction fees. The card also comes with a zero per cent cost of transactions for the first two years.

8. IndusInd Bank Platinum Edge Credit Card

IndusInd Bank Platinum Edge Credit Card

Its IndusInd Bank Platinum Edge Credit Card is an ideal choice for those looking for a card that has a wide range of reward options. It offers cashback of 1% on all purchases. Additionally, it also comes with a zero percentage cost of purchases in the initial 21-month period.

9. RBL Bank Platinum Travel Credit Card

RBL Bank Platinum Travel Credit Card

The RBL Bank Platinum Travel Credit Card is an excellent choice for travelers who frequently travel. It offers a range of benefits for travelers, such as access to airport lounges along with travel insurance and no foreign transaction fee. Also, it offers a zero per cent cost of purchase for the initial 21 month period.

10. Yes Bank SimplyCLICK Platinum Credit Card

Opens in a new windowcardinsider.com

Yes Bank SimplyCLICK Platinum Credit Card

It is the Yes Bank SimplyCLICK Platinum Credit Card is an ideal choice for those seeking an easy and straightforward credit card. It offers cashback of 1% on all purchases. In addition, it also comes with a zero percentage cost of purchases in the initial 21-month period.

How to Choose the Best Credit Card for You

When you are choosing the right credit card, it’s crucial to think about the amount you spend thumb_up thumb_down tune Share Google it

Tech

“Canara Bank Maintains NIM Target of 3%, Eyes 12-14% Credit Growth.”

Canara Bank is a well-managed bank with a strong track record. The bank is confident of achieving its targets in 2023, despite the challenges posed by the rising interest rates.

Published

2 months ago

July 25, 2023

Canara Bank confident of achieving targets despite rising interest rates.

Table of Contents

| Canara Bank | net interest margin (NIM) | credit growth | Indian banking | banking industry | rising interest rates | performance | results | statements | report | earnings call |

Canara Bank, one of India’s largest banks, has maintained its net interest margin (NIM) target of 3% for 2023. The bank also expects credit growth to be in the range of 12-14% in the current year. Canara Bank’s MD, L.V. Prabhakar, said that the bank is confident of achieving its targets despite the rising interest rates.

Canara Bank's MD, L.V. Prabhakar, says bank is confident of achieving targets in 2023. — **Canara Bank maintains NIM target of 3% and expects credit growth of 12-14% in 2023.**

Canara Bank, India’s leading financial institution, remains steadfast in its pursuit of a 3% net interest margin (NIM) for the year 2023. Alongside this ambitious goal, the bank has set its sights on achieving a credit growth rate of 12-14% during the current fiscal year. Canara Bank’s Managing Director, L.V. Prabhakar, expressed unwavering confidence in the bank’s ability to meet these targets, even amidst the challenges posed by rising interest rates.

Maintaining NIM Target Amidst Challenges

“We are confident in our ability to maintain the 3% NIM target in 2023,” asserted Prabhakar. He highlighted the bank’s robust deposit base and the encouraging demand for credit as key factors supporting their optimistic outlook. Despite the fluctuations in interest rates, Canara Bank remains well-prepared to navigate through these challenges.

Effective Asset-Liability Management

Prabhakar emphasized the importance of their prudent asset-liability management (ALM) framework, which plays a crucial role in mitigating interest rate risks. Through meticulous planning and strategic risk management, Canara Bank believes it can effectively shield its operations from the impact of fluctuating interest rates.

Selena Gomez celebrates birthday by raising money for mental health. — Selena Gomez is asking for donations to the Rare Impact Fund in lieu of gifts for her 31st birthday. The fund supports organizations that provide mental health services and education to young people.

Leveraging Government’s Financial Inclusion Initiatives

The bank is actively capitalizing on the Indian government’s dedicated efforts towards financial inclusion. “The government’s financial inclusion initiatives are propelling our business growth,” Prabhakar acknowledged. Canara Bank is witnessing a surge in loan demand from small businesses and farmers, a testament to the positive outcomes of the government’s policies.

A Proven Track Record of Excellence

Canara Bank has consistently demonstrated its competence in managing operations and achieving targets. Armed with a strong track record, the bank is unwavering in its commitment to meeting the set goals for 2023, regardless of the challenges imposed by rising interest rates.

In conclusion, Canara Bank, as one of India’s leading banks, is resolute in its pursuit of a 3% NIM target and a credit growth rate of 12-14% for the year 2023. With a well-established deposit base, effective ALM framework, and the support of the government’s financial inclusion initiatives, the bank stands well-prepared to overcome the hurdles posed by fluctuating interest rates. Canara Bank’s determination and proven track record serve as a testament to its unwavering dedication to excellence and success in the financial landscape.