PRIVATE non-life insurer ICICI Lombard General Insurance has introduced two add-on covers — Zero Depreciation and Consumable items — in its motor insurance portfolio. In case of the former, depreciation in auto parts will not be deducted from the claim amount payable to the insured. Other general insurers including Tata-AIG General and Bharti-AXA General Insurance also offer a similar cover. The other add-on promises to ensure that the claim amount is not reduced by the value of consumable items, which would be the case otherwise. This cover includes items such as nut & bolt, screw, grease, lubricant, air-conditioner gas, bearings, engine oil, oil filter, fuel filter and brake oil.
Liquidity adjustment facility (LAF) is a money market tool used by the central bank of a country (in India it is the Reserve Bank of India ), to infuse funds into the country's banking system when liquidity dries up. Again, in case there is excess liquidity, the central bank uses some tools to help banks manage their surplus liquidity. Usually the RBI uses the repurchase facility (called Repo ) to give short-term loans to banks to meet their temporary liquidity shortage. On the other, hand RBI uses reverse repo facility to help banks park their excess liquidity with it. Banks usually use various securities, which are approved by the RBI, as collateral when they take money from the RBI to meet their short term liquidity requirement Best Tax Saver Mutual Funds or ELSS Mutual Funds for 2015 1. ICICI Prudential Tax Plan 2. Reliance Tax Saver (ELSS) Fund 3. HDFC TaxSaver 4. DSP BlackRock Tax Saver Fund 5. Religare Tax Plan 6. Franklin India TaxShield 7. Canara...
