Supreme Court: Imminent Death Not Required For a Statement to Qualify as Dying Declaration  ||  SC: HC Cannot Grant Pre-Arrest Bail Without Quashing FIR; Accused Must Approach Sessions Court First  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: Agreed Interest Rate Cannot Be Challenged as Exorbitant; Arbitrator Cannot Override Contract  ||  SC: GST Exemption on Residential Lease Applies When Building is Sub-Leased for Hostel/PG Use  ||  Rajasthan High Court: Universities Cannot Retain Students’ Original Documents for Pending Fees  ||  NCLT: Damages from Contractual Disputes Cannot Form Basis for Initiating Insolvency Proceedings  ||  Del HC: Pre-SCN Consultation is Unnecessary in Large-Scale GST Fraud Cases with Complex Transactions  ||  Calcutta HC: Unilaterally Appointed Arbitrator Violates Natural Justice and Sets Aside the Award  ||  Raj HC Upholds Padmesh Mishra’s AAG Appointment, Noting Advocacy Skill isn’t Tied to Experience    

Clarification on "Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization"- (Insurance Regulatory and Development Authority) (29 Nov 2016)

MANU/IRDA/0045/2016

Insurance

Reference is drawn to the Circular Ref: IRDA/ACTL/CIR/ULIP/236/11/2016 dated 25th November, 2016 on "Extension of grace period for payment of renewal premium of life insurance policies in light of recent demonetization". It has come to the Authority's notice that there is a news item floating in the press that the Authority has instructed insurers to accept old Rs. 500 and Rs. 1000 notes for depositing insurance premium. Please note that the above circular does not mention acceptance of the said old notes and it merely extends the grace period of the policies issued by life insurers as mentioned in the above circular.

Tags : RENEWAL PREMIUM   PAYMENT   EXTENSION   TIME PERIOD  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved