SBI Life Insurance Tops in Global List of Insurance Agents

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                                            SBI Life Insurance on September 28,2011 topped the prestigious Million Dollar Round Table (MDRT) 2011 across the globe with 2,661 members, according to the statistics from the MDRT website. State-Run Life Insurance Corporation is ranked 4 th with 1,993 members. SBI Life and LIC are the only two Indian life insurance companies featuring in the top 10 of the MDRT list for 2011. MDRT is an association of the world's best life insurance sales(Ad-visors) professionals.

Health Insurance Policies Become Portable in India

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                                                           Health insurance consumers will be able to change their service providers from October 3, 2011. Those who seek to switch to a new general insurer should apply at least 45 days prior to the expiry of the policy. The costumers would also be able to carry forward credit for per-exiting diseases ( or bonus) in migration . Both individual and family-floater policies (in which insurance is extended to select family members) are eligible for portability. Portability is permitted only between non-life insurers. At present, present there are 24 general insurance companies in the country.

Forex retention limit for exporters enhanced

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                                                    The Reserve Bank Of India on October 14,2011 enhanced the limit for retaining foreign currency abroad to  $3,000 per transaction for exporters against the existing $500. It has now been decided   to increase the value per transaction from $ 500 to $3,000 for export-related remittances received through Online Payment Gateway Service Providers (OPGSPS), the RBI said in a statement. The RBI also announced 2 % interest subsidy on rupee export credit to the labor-oriented and small scale sectors.