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Phased unlocking since June 1 has revived economic activities: Govt

With the phased unlocking of the Indian economy since June 1, 2020, high frequency economic indicators like PMI Manufacturing, index of eight core industries, E-way bills, Kharif sowing, power consumption, railway freight, cargo traffic and passenger vehicle sales have recovered and indicate growing convergence with previous year’s activity levels,” Union Minister of State for Home Nityanand Rai said in the Rajya Sabha

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Rajya Sabha passes bill to punish those attacking Healthcare workers

The healthcare service personnel include public and clinical healthcare service providers such as doctors, nurses, paramedical workers and community health workers; any other persons empowered under the act to take measures to prevent the outbreak of the disease or spread thereof; and any persons declared as such by the state government, by notification in the official gazette.

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Weekly coronavirus cases top 300,000 in Europe, WHO issues warning

Roughly 30 million people have been infected by the virus worldwide and more than 900,000 have died, triggering some of the deepest recessions on record and disrupting global supply chains,
European countries from Denmark to Greece announced new restrictions on Friday to curb surging coronavirus infections in some of their largest cities, while Britain was reported to be considering a new national lockdown.Cases in the United Kingdom almost doubled to 6,000 per day in the latest reporting week, hospital admissions rose and infection rates soared across parts of northern England and London,
Israel’s government announced Saturday it would impose a three-week nationwide lockdown in an effort to stem one of the world’s highest novel coronavirus infection rates after a surge in cases.

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Biden rejects Trump claim that COVID-19 vaccine is imminent

Trump again said on Wednesday that a vaccine for COVID-19, the disease caused by the virus, could be ready for distribution ahead of the Nov. 3 election.

Most health experts, including Robert Redfield, the director of the Centers for Disease Control and Prevention, have said a vaccine will likely not be widely available until mid-2021.COVID-19 has killed more than 195,000 people in the United States, the most of any country.

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IRDA to unveil standard Term Policy and covers for MSME and small dwellings soon:Khuntia 

The guidelines regarding the standard products for term plans, dwelling and MSMEs will be rolled out soon by the regulator, said Subhash C Khuntia, chairman  Irdai, while addressing CIIs 22nd Insurance and Pension Summit on Thursday.
The segment regulator is also looking to introduce the risk-based solvency for the insurance companies in next three years. 

The regulator also believes that negative growth seen in the new premiums for insurance industry since March, will improve in the months to come. 

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GIC Re to manage Rs 75k cr Pandemic Pool,mandatory cover & parametric claim payment:IRDA Panel

Pandemic pool,with public-private-government participation, to cater 4 crore MSME workers,around Rs2000 crores of capacity expected from the industry and a substantial capacity coming from government in the form of backstop. Multiple trigger mechanism will be set separately for an epidemic and a pandemic event.Participation will be mandatory for the sectors which have been covered under the pool. This can be provided as a Standalone Product coverage for the event or as an add-on with the existing products.
“We are now putting the report on the formation of Pandemic Pool for the public feed-back and will soon set up the Pool,” said SC Khuntia, chiarman, IRDAI..

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