Seniors house and contents insurance

MUMBAI: The two insurance subsidiaries of the crippled mortgage lender Dewan Housing Finance (DHFL) are unlikely to be impacted by the ongoing bankruptcy proceedings of their parent as they continue to have adequate solvency ratios, Irdai chairman SC Khuntia said on Friday. He also asked insurance companies to write off their exposure to the bankrupt DHFL as they did in case of IL&FS. DHFL, admitted for bankruptcy proceedings on December 3, has two insurance joint ventures -- DHFL Pramerica Life Insurance and DHFL General Insurance. DHFL Pramerica Life, launched in 2008, is a joint venture between DHFL Investments, a wholly-owned arm of DHFL, and Prudential International Insurance Holdings of the US, has Rs 4,675 crore assets under management and employs 3,100. DHFL General Insurance, on the other hand, is a fully-owned subsidiary of Wadhawan Global Capital, the holding company of the HDFL Group, and manages USD 18.6 billion assets through its lending, investment and insurance … [Read more...] about DHFL bankruptcy: Irdai rules out troubles for two insurance arms; asks insurers to write off exposure

Chief Minister Edappadi K. Palaniswami on Monday inaugurated a total of 610 housing units of the Tamil Nadu Housing Board (TNHB) constructed at a total cost of ₹158 crore at various locations.While 510 low income group (LIG) houses have been constructed at Mahakavi Bharathiar Nagar, another 40 high income group (HIG) houses have been constructed at Mogappair.A total of 48 housing tenements for middle income groups (MIG) at Puliyur and another 12 HIG tenements were constructed in Mandavelipakkam.Mr. Palaniswami also inaugurated a wedding hall in Madurai district constructed at a cost of ₹5.51 crore through video conference.Deputy Chief Minister O. Panneerselvam, Fisheries Minister D. Jayakumar, Chief Secretary K. Shanmugam and senior officials were present. … [Read more...] about CM inaugurates 610 TNHB houses

A Unified Metropolitan Transport Authority (UMTA) could have dealt with issues plaguing the twin cities like a common mobility card, road development plans, traffic signalling, pedestrian facilities, first and last mile connectivity and inter-departmental coordination for proper public transport infrastructure, among others.In fact, Hyderabad was the first city to have UMTA as part of the National Urban Transport Policy (NUTP) under the chairmanship of the Chief Secretary way back in 2008 to improve civic infrastructure in the city and promote public transport.However, the last time UMTA met was in July last year chaired by the CS and attended by secretaries in charge of Municipal Administration & Urban Development, Transport, Finance besides the top bosses of traffic police, Hyderabad Metropolitan Development Authority (HMDA), Greater Hyderabad Municipal Corporation (GHMC), Hyderabad Metro Rail, South Central Railway (SCR) and others.Coordinated developmentAmong the proposals … [Read more...] about UMTA in the dog house

From that first property — a $138,000 unit on the NSW Central Coast — the 25-year-old has built up a portfolio of 10 properties worth about $2 million across Brisbane, the Gold Coast and Adelaide. Mr Dilleen, who grew up in Mt Druitt in Western Sydney, said he started getting “really obsessed” with property by the age of 16. “I grew up with a single mother on a pension, so we never owned a home of our own, we were living in housing commission or renting,” he said. “My friends had houses, I knew in the future they would own those one day. I thought, ‘I’ve got to do something about this.’ I started saving, I did a lot of research. At the time I was on a $500-a-week income, no one would give me finance.” After being knocked back by six different banks, he realised he would have to purchase a very low entry price property with a high rental yield. His two-bedroom Central Coast unit, which has today nearly tripled in value, … [Read more...] about ‘You have to start thinking ahead’: How a Macca’s worker on $500 a week bought his first property at 19

The Aussie dollar fell 1.35 US cents in the 24 hours between midday yesterday and today in response to the RBA governor’s admission the economy may be weaker than expected. It was buying 71.03 US cents at noon and economists say it will crash well below 70 US cents if the rate is cut, with one expecting a fall as low as 65 US cents. The central bank on Monday kept the rate at a record low of 1.5 per cent for 30 consecutive months in the wake of the banking royal commission’s damning report into the finance sector and accelerating house price declines in Sydney and Melbourne. For months on end, Dr Lowe had maintained a lift in the cash rate was the most likely move, but he told the National Press Club in Sydney the RBA might need to change that outlook. “Over the past year, the next-move-is-up scenarios were more likely than the next-move-is-down scenarios,” he said. “Today, the probabilities appear to be more evenly balanced.” But economists are more … [Read more...] about Interest rate cut will see Aussie dollar fall well below 70 US cents, economists say