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IRDAI postpones its move to hike 3rd party motor premium from Apr 1

“Validity of premium rates for Motor Third Party Liability Insurance Cover set out for the year 2019-20 stands extended beyond 31st March, 2020 until further notice, Accordingly, all insurers shall continue to charge the rates currently being charged for Motor Third Party Liability Insurance Cover from 1st April, 2020 onwards until further orders.,’’said IRDA in its order on Friday.

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Repayment moratorium covers all loans, including credit card dues: RBI

Term loans and working capital facilities include all term loans (including agricultural term loans, retail and crop loans), all commercial banks (including regional rural banks, small finance banks and local area banks), co-operative banks, all-India financial institutions, and NBFCs (including housing finance companies) are permitted to grant a moratorium of three months on payment.

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Owners need to provide mobile numbers for vehicle registration-related services:Govt

In this regard, a notification was issued last week for amending various forms, the ministry said in a statement.

“These forms pertain to various aspects relating to motor vehicles like, registration, transfer, register of vehicles, renewal, duplicate copy, grant of NOC, change of address, entry or termination entry for hire / purchase / hypothecation, etc,” it said.

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21-day lockdown Care Ratings predicts Rs 7.2 lakh crore impact on economy

“Assuming 80 per cent production is lost, and 20 per cent of the economy (that constitutes the essential services and farming) still functions, Rs 35-40000 crore of GDP will be lost every day. Of the 21 days lockout, 14 days spill over to FY21, therefore potential total loss will be in the region of Rs 6.3-7.2 lakh crore assuming 18 working days will be split across the two years,” says the report.

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