Fallout of rupee breaching 90 mark: Get ready to pay higher for consumer goods; here’s what may become costlier
Manufacturers of smartphones, laptops, televisions and major appliances have indicated plans to hike prices. (AI image) Consumers may soon have to brace for higher prices! The depreciation of the rupee beyond Rs 90 against the US dollar could force various sectors including consumer electronics, beauty products, and automobile manufacturers to increase their prices. This increase…
Does your car insurance cover damage cost caused by floods? Check for eligibility, claim process and hidden clauses
Heavy rains have lashed several parts of India, triggering flashfloods and water-logging in multiple cities. These floods not only disrupt daily movement but can also cause severe damage to vehicles. Among the most affected regions are Maharashtra, Himachal Pradesh, Punjab and Jammu & Kashmir, where continuous downpour has impacted human lives, damaged infrastructure and left…
RBI proposes changes to banks’ forex positions
The Reserve Bank on Wednesday proposed changes to rules governing banks’ foreign exchange positions. The amendments to net open position (NOP) were made following a comprehensive review of the existing instructions, according to an official statement. NOP refers to the difference between banks’ total foreign currency assets and liabilities, revealing their exposure to currency fluctuations…
Edme Insurance Brokers acquires UIB Insurance to strengthen reinsurance business
Edme Insurance Brokers Ltd (formerly Aditya Birla Insurance Brokers Ltd) has acquired the Indian operations of London-based UIB Group in a strategic initiative to strengthen its value proposition. UIB Group is a privately owned international insurance and reinsurance broker. Its Indian operation, UIB Insurance Brokers (India) Pvt. Ltd, extends the group’s operations to India. Edme’s…
