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The Life Insurance Corporation of India (LIC) is hiring for 8000 Assistant posts across its Central, Eastern, East-Central, Northern, Northern Central, Southern, Southern Central and Western zones. The registration for <keyword id="8135972" type="UNKNOWN" weightage="20" keywordseo="Lic-job-recruitment-2019">LIC job recruitment 2019</keyword> opened on 17 September and the last day to register for the open positions is 1 October 2019. Interested candidates can apply on the company’s official website licindia.in. The job responsibilities include clerical work, cashier posts, customer service executives and window operations, offering a monthly stipend of ₹14,435. This will also include employee benefits such as House rent allowance, travel allowance, dearness allowance among others. Here’s how to apply: <ul><li>Visit the official website licindia.in </li><li>Go to the Careers tab on the homepage. </li><li>Choose the branch office where you want to apply </li><li>Click on the link that says ‘Apply Online’ </li><li>Enter your credentials — registration number, password and security code. </li><li>You can download the application and fee receipt for future reference. </li></ul> The candidates in the age bracket of 18-30 years can apply for the Assistant posts. They will be shortlisted on the basis of two computer-based tests followed by a medical examination.

Registration closes soon: LIC India is hiring for 8000 Assistant posts at a monthly stipend of ₹14,435

New Delhi, Nov 19 () The registration of Reliance Capital Pension Fund under the government's National Pension Scheme (NPS) has been cancelled following a request by the company, sector regulator PFRDA said in a notice.
With this, the pension fund is no longer available for subscription under NPS, said the Pension Fund Regulatory and Development Authority of India (PFRDA).
Earlier this year, the company had surrendered its NPS licence.
It was one of the eight companies registered under NPS to manage funds for subscribers from the private sector.
"This is to inform to general public that based on the request received from Reliance Capital Pension Fund Ltd, the certificate of registration granted to Reliance Capital Pension Fund Ltd has been cancelled by the Authority and the pension fund is no longer available for subscription under NPS," PFRDA said. 
The other seven funds for private sector subscribers are HDFC Pension Management Co, ICICI Prudential Pension Fund Management Co, Kotak Mahindra Pension Fund, LIC Pension Fund, SBI Pension Funds, UTI Retirement Solutions, and Birla Sunlife Pension Management.
LIC Pension Fund, UTI Retirement Solutions and SBI Pension Funds manage NPS for the government employees.
NPS is a pension cum investment scheme launched by the government to provide old age security to the citizens. 
There were about 1.28 NPS subscriber at end-October, 2019. NKD ANU
ANU

Reliance Capital Pension's registration under NPS cancelled: PFRDA

The proposed amendment to the definition of health insurance business is not exhaustive and may lead to disputes at the time of claims, said four <keyword id="57570" type="General" weightage="20" keywordseo="Unions" source="Orion">unions</keyword> in the Life Insurance Corporation of India (<keyword id="6367143" type="General" weightage="20" keywordseo="LIC" source="Orion">LIC</keyword>). The Unions also said the proposed amendments does not define the term liability which may lead to misappropriation by the insurers. The four unions are: Federation of LIC of India Class I Officers' Association, National Federation of Insurance Field Workers of India, All India Insurance Employees Association and All India LIC Employees Federation. The Indian government has proposed drastic changes to the two insurance laws - Insurance Act 1938 and the Insurance Regulatory and Development Authority Act 1999- and has called for stakeholders views the planned changes. Scrapping of the statutory Rs 100 crore startup capital for life and general insurance business and Rs 200 crore for reinsurance business, allowing different kinds of insurers including captives, changing the investment provisions are some of the major amendments proposed by the Indian government to the insurance laws. The government also proposes to allow an insurer to distribute other financial products as specified by and subject to regulations and to services related or incidental to insurance business. As per the proposed amendment to Section 2(6C) of the Insurance Act 1938 "health insurance business" means effecting contracts of insurance that provide sickness benefits or pay for medical and health expenses. Quoting the existing definition in the Act, the four unions said the existing definition of health insurance business is explicit to include sickness, medical, surgical or hospital expense benefits. However, the proposed amendment is not elaborative which may lead to dispute during a claim and the insurers may find scope to harass the customer. Therefore, the existing definition should not be replaced, the four unions said. The employee unions are also opposed to the idea of insurers distributing insurers to distribute other financial products as it may distract the companies from their insurance products, distribution and proper attention on serving the policyholders. Industry experts also told IANS that the policyholders funds should be ring fenced so that it is not touched by the players in the case of any liability that may arise due to selling other financial products. The amendments to the laws are proposed in order to increase the penetration of insurance in the country, which continues to be low even after over two decades after opening up the sector. The employee unions are also against the government's plan to bring down the net owned funds to Rs.500 crore from the existing Rs 5,000 crore for a reinsurer. Moreover, the minimum requirement of Rs 5,000 crore was enacted years back. Since then, huge inflation has taken place. "Reduction in requirement by one tenth may result in insolvency which will put the customers in great sufferings. Therefore, we are of the opinion not to reduce the amount of net owned funds for new registration," the unions said. Referring to the proposed amendments to Section 27 of the Insurance Act, the unions said the proposed change does not define the liability, which may lead to misappropriation by the insurers. Therefore, the liability must be defined in explicit terms. On the proposed deletion of Section 27A of the Insurance Act the unions said: "This section deals with the provision of investments with a conservative view to safeguard the interests of the policy holders. Omission of this section may allow for irresponsible investments by the insurers causing huge harm to the customers." The unions are also against allowing multilevel marketing in the insurance sector. Appointment of principal agent, chief agent and special agent to transact any insurance business will bring complexity in the system and will increase the probability of mis-selling as well as fraudulent acts, they said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/tata-motors-subsidiary-to-operate-921-electric-buses-in-bluru/articleshow/96294242.cms">Tata Motors subsidiary to operate 921 electric buses in B'luru</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/upcoming-electric-scooters-in-india-in-2023/articleshow/96278794.cms">From Suzuki and TVS to Hero Electric: Here are some of the top electric scooters expected to launch in 2023</a>

Proposed amendments to insurance laws may lead to disputes in health claims, misappropriation: Unions

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Registration closes soon: LIC India is hiring for 8000 Assistant posts at a monthly stipend of ₹14,435

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Reliance Capital Pension's registration under NPS cancelled: PFRDA

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Proposed amendments to insurance laws may lead to disputes in health claims, misappropriation: Unions

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Here’s how the advertising and marketing industry reacted to Union Budget 2021

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