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LIC policyholders get a 2nd chance to revive their lapsed policies in current fiscal
Under this Special Revival Campaign, policies of specific eligible plans can be revived within five years from date of the first unpaid premium subject to terms & conditions.
In the revival scheme,for upto premium payment upto Rs.1,00,000, a policy holder can avail 20 per cent discount(subject to a maximum of Rs. 2000), for premium payment of Rs 1,00,001 to Rs 3,00,000,a discount of 25 per cent ( subject to a maximum of Rs. 2500) and fom Rs 3,00,001 and above,a discount of 30 per cent (subject to a maximum of Rs. 3000).
Certain other concession in health requirements is also being offered subject to eligibility. Most policies can be revived only on the basis of a declaration of good health and a covid questionnaire to be submitted by the proposer/life assured.
COVID recoveries cross 1 cr-mark; recovered cases are 44 times number of active cases
The national COVID-19 recovery rate stands at 96.36 percent. Following the national pursuit, all states and union territories have recovery rate more than 90 percent.
“India’s recovery rate is the highest in the world. Countries with higher caseload are reporting lesser recovery rate than India’s,” the ministry underlined.
With the expansion in the testing infrastructure, the COVID-19 positivity rate of India has also gone down. The daily positivity rate remains below 3 per cent.
India predicts GDP 7.7% contraction, likely to prompt steps to boost growth
The government’s annual budget for next financial year, due to be presented on Feb. 1, is expected to increase spending on new roads, ports and provide incentives for manufacturers, to propel the economy out of its slump.
The economy contracted by a record 23.9% in the April-June quarter following a national lockdown to prevent the spread of the coronavirus. The contraction was reduced to 7.5% in the September quarter.
Thai Re launches ASEAN’s first reinsurance smart contract platform using IBM’s blockchain and hybrid cloud technology
Through the launch of its “Insurer Network” platform on IBM Cloud, Thai Re will streamline how it handles more than 10,000 annual reinsurance contracts with its insurance partners, making it easier for those insurers to grow their businesses.
Using blockchain technology on the highly secured IBM Cloud, the platform will allow Thailand’s insurance industry to gain efficiency and speed in processing the reinsurance contracts.
Up to 4,000 financial firms could fail due to COVID, says UK regulator
“At end of October we’ve identified there are 4,000 financial services firms with low financial resilience and at heightened risk of failure,” said Sheldon Mills, the FCA’s executive director of consumers and competition.
“These are predominantly small and medium sized firms and approximately 30% have the potential to cause harm in failure.”
Who’s on the hook if Covid -19 vaccines go wrong?
Adar Poonawalla, the chief executive of Serum Institute of India Ltd., the world’s largest vaccine maker by volume, wants indemnity. Competitors tripping up one another by instigating frivolous civil suits isn’t a trivial risk for the likes of Poonawalla, who’s manufacturing the jab developed by AstraZeneca Plc and Oxford University.
U.S. considering adding Alibaba, Tencent to China investment ban
Some investors expressed skepticism, however, that Alibaba and Tencent would face long-term restrictions – given that they are worth a combined $1.3 trillion, widely held by U.S. investors and the likely reputational and financial hit to U.S. stock markets.
Covid-19 vaccines 110% safe, impotency rumours complete nonsense: DCGI
When asked if people would face side effects after taking the vaccine, the DCGI said, “Yes, minor side effects will be there, including a little like pain in the shoulders, a slight fever, little allergies. This occurs in every vaccine but of-course, the vaccine is 110 per cent safe.”
Protective immunity against novel coronavirus may last for over eight months: Study
The study, published in the journal Science, helps clarify some concerning data from other institutes, which showed a dramatic drop-off of COVID-fighting antibodies in the months following infection. Some feared that this decline in antibodies meant that the body wouldn’t be equipped to defend itself against reinfection.
Private investigators’ body APDI forms global alliance against fake Covid-19 vaccines
APDI Chairman Kunwar Vikram Singh in a statement said, “The GAFV has been formed after reports emanating from several countries about the circulation of fake Covid vaccines. Already, Europol, the European Union’s law enforcement agency, has issued a warning of fake vaccine circulation due to huge demands.”