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IDFC FIRST Bank offers four times annual CTC, salary continuation for two years to corona affected employees’ families: MD

“The bank’s employees are usually young people. Their families will be taken by shock. So we put together a composite programme covering all angles. We are giving four times the annual CTC as compensation plus continuing the salary for two more years so that the family can get the time to economically recover,” V Vaidyanathan, Managing Director and CEO, IDFC FIRST Bank, told PTI.

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CCI clears proposed deal to acquire stake in Magma HDI General Insurance by 2 entities

Acting through SPV, the combination-India Advantage Fund S4 I & Dynamic India Fund S4 US I, and NHPEA Trisul Holding B.V.- contemplates an acquisition of an effective combined interest of less than 25 per cent, on a fully diluted basis, of the share capital of Magma HDI .
Besides, NTH would buy an effective combined interest of less than 10 per cent, on a fully diluted basis, of the company’s share capital, as per a notice filed with CCI.

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Britain turns into test case for Covid-19 endgame

After inoculating a larger proportion of people than any other major economy, Britain is emerging as a test case in Europe as it attempts to draw a line under Covid-19. Levels of infections are now back to their highest since February and the pound is taking a hit on concern a recovery may be slipping further into the future.

United Kingdom has recorded 11,007 new Covid-19 cases in 24 hours, with the emergence of the Delta variant pushing the figure above 10,000 for the first time since late February.

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Working towards preparing 1 lakh frontline Corona Warriors to support healthcare system: PM Modi

Under the special training program of frontline workers, candidates will get free training, a Skill India certificate, food and accommodation facility, stipend along with on-the-job training and accident insurance of Rs 2 lakh for certified candidates.
The programme has been designed as a special programme under the Central Component of Pradhan Mantri Kaushal Vikas Yojana 3.0, with total financial outlay of Rs. 276 crore, the PMO said. The programme will create skilled non-medical healthcare workers to fill the present and future needs of manpower in the health sector. 

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Covid vaccination chances of hospitalisation reduce by 75-80 pc: Govt

”Seropositivity rate above 18 years was 67 per cent and below 18 years was 59 per cent. So even at those places, where more intense wave came, which were urban, the seropositivity among children and adults remained almost the same,” Paul said.

Overall, it was seen that children contracted the infection but it remained mild among them and children might not get affected in isolation in the next wave but preparations have been stepped up in case the virus changes its behaviour, he said.

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Experts urge India’s richest state to gear up for third wave of COVID-19

“We should have a clear plan, and keep our preparations ready for the next few weeks, whenever the next wave comes,” Rahul Pandit, a member of the state’s COVID task force and a director of Fortis Hospitals Mumbai, told Reuters.

“Our efforts should be directed in delaying the wave as much as we can, and even try to prevent it.”

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Global life insurance outlook revised to stable amid brightening growth prospects:Moody’s

“Strong solvency capital ratios globally underpin our view of the outlook,” Moody’s Vice President Manoj Jethani says.

“Although pandemic mortality continues to weaken profitability, the overall impact on the credit profile of life insurers has been less severe than originally expected due to differences in demographics of the general versus the insured population, as well the benefits of diversification from longevity-type insurance products, ” he adds.

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