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Centre close to finalising automobile scrappage policy: Nitin Gadkari
The policy is expected to encourage customers to go in for new purchases which will be backed-up by government incentives in lieu of their old vehicles.
Significantly, the move is considered to be the most vital element of any further package to prop-up the sector’s growth.
Fintech the way forward for Indian banking, payment system: SBI MD
Giving the example of SBI, he said, 91 per cent of jobs are being done digitally now, which was unthinkable 35 years ago.
“We believe that this 91 per cent will become 100 per cent. For a bank like State Bank of India, and other banks obviously, everything is going to move digitally. There is no doubt about that. Penetration of smartphones is also going to increase,” he said at a virtual conference organised by the Confederation of Indian Industry (CII).
Going forward, he said, branches are going to become nothing but distribution points like what has happened in Europe and other places
Foreign investors pour $6 bn into India stocks despite sinking economy
“We place India at the top of the list with China for investment returns over the next 12-24 months,” said Nuno Fernandes, who helps oversee more than $2 billion in emerging-market assets at GW&K Investment Management LLC in New York. “India equities represent one of the fastest growth areas in the world.”
Still, rapidly rising virus cases have put a dampener on investor confidence. With the number nearing 4 million, India is becoming the world’s new virus epicenter.
Covid-19 Cover:Payouts for medical claims and cancellations in travel insurance to reach record-breaking levels
Jazmin Chong, Insurance Analyst at GlobalData, comments: “GlobalData’s 2019 UK Insurance Consumer Survey found that the most common reason for claiming on travel insurance last year was medical claims, with 31% of respondents citing this reason, while cancellations were the second highest at 29%. These make up a large part of the cost of claims for the travel insurance market, having generally increased over recent years and reached a record high in 2018, costing insurers £399m, although it decreased slightly to £377m in 2019. The ABI estimates that travel insurers have paid at least £275m in COVID-19-related claims for the first quarter of 2020.
India’s commitment to reform being taken seriously by foreign investors: FM
IRDA allows wide-ranging incentives by insurers to promote wellness and affordable health insurance
Based on criteria stipulated for wellness and fitness, insurers may endeavor promoting wellness amongst health insurance policyholders by offering host of services:
-Health specific services provided by Network providers or other empanelled hospitals / service providers for the following (in addition to any such benefits already offered):
-Outpatient consultations or treatments
-Pharmaceuticals
-Health check-ups/diagnostics
-Including discounts on all the above.
– Redeemable vouchers to obtain health supplements.
WHO says widespread vaccinations against Covid-19 are not expected until middle of next year
“We are really not expecting to see widespread vaccination until the middle of next year,” Harris told a UN briefing in Geneva. “This phase 3 must take longer because we need to see how truly protective the vaccine is and we also need to see how safe it is.”
Russia’s Covid-19 vaccine shows potential in peer review, Lancet reports
The government has announced plans to begin administering the shot more widely to medical personnel and teachers in the coming weeks, ahead of a broader national campaign slated for late this year. The move has led to concerns that political pressure could prevail over safety considerations and risk public health as the world seeks an end to the pandemic.
India’s coronavirus tally goes past 3.9 mn; recoveries crosses 3 mn-mark
The COVID-19case fatality rate has further declined to 1.74 per cent in the country.
There are 8,31,124 active coronavirus cases in the country, which account for 21.11 per cent of the total caseload, the data stated.
Select intl passengers can avail COVID-19 tests on arrival at entry airports
If the RT-PCR test result is negative, the international passenger will be allowed to catch his or her connecting domestic flight and he or she will not need to undergo any institutional quarantine at the destination city, the ministry’s order said.
The test result will come in a maximum of seven hours. Till the results come, the passenger will have to remain in the waiting lounge of the entry airport, the order noted.