“We are committed to usher in risk-based capital (RBC) framework, which is more objective and beneficial for insurers that manage risk well. It should be possible to change over in a period of 3 years. We also plan to synchronise with the new accounting standard Ind AS 117 based on IFRS-17,” explained said Subhash Khuntia, chairman, IRDAI in an interview with Asia Insurance Post..
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India’s fiscal response to COVID conservative, need large stimulus: Report
Azim Premji University’s .report, ‘State of Working India 2021: One Year of Covid-19,’ said the impacts of the second wave are still unfolding and may be as large, or larger than the first one.
Further, coming as it does on the back of depleted savings, debt, and reduced fallback options, the second wave can lead to potentially larger impacts on work, incomes, food security, health and education, the report said.
COVID-19 resurgence bringing renewed challenges for India; GDP growth seen at 9.5 pc: Fitch
With 8.5 hospital beds per 10,000 population and eight physicians per 10,000, the country’s healthcare sector is not equipped for such a crisis. Hospitals across the country have filled to capacity and in addition to oxygen running out, intensive care units are operating at full capacity and nearly all in the country ventilators are in use.
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