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Indian
Jan Dhan accounts exceed 430 mn in 7 yrs, total deposits over Rs 1.46 trn
This national mission was launched to ensure people have access to financial services, namely, banking, remittance, credit, insurance, pension in an affordable manner.
On the road ahead, the finance ministry said, eligible PMJDY account holders will be sought to be covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
As on August 18, 2021, the number of total PMJDY accounts stood at 430.4 million. Of this, 55.47 per cent (23.87 crore) Jan-Dhan account holders are women and 66.69 per cent (28.70 crore) holders are in rural and semi-urban areas, the finance ministry said in a statement.
Out of total 430.4 million PMJDY accounts, 368.6 million or 85.6 per cent are operative, and the average deposit per account is Rs 3,398, as per the statement.
Increase in average deposit is another indication of increased usage of accounts and inculcation of saving habit among account holders, it said.
Air passenger volumes remain weak in contrast to robust cargo demand: AAPA
More than a year into the pandemic, strict border restrictions and quarantine measures continue to have a devastating impact on international air travel, said Subhas Menon, AAPA Director General.
“By contrast, air cargo remains the single bright spot for the region’s airlines, with strong external demand boosting cargo revenue. However, this remains largely insufficient in mitigating the drastic fall in passenger volumes.” Menon said progress in vaccination rollouts across the region remains slow as many countries still face challenges in procuring supplies and suffer from resource constraints.
Vaccine inequity causes ‘dangerous divergence’ in COVID survival rates – UN agency heads
HC to hear in Oct appeals of FB, WhatsApp in privacy policy matter
The case relates to the appeals of Facebook and WhatsApp against a single judge order dismissing their pleas against the probe CCI ordered into the instant messaging app’s new privacy policy.
CCI had contended that the new privacy policy of WhatsApp would lead to excessive data collection and “stalking” of consumers for targeted advertising to bring in more users and is therefore an alleged abuse of dominant position.
International
Markets are overreacting to threat of Coronavirus: Allianz CEO Baete
Global recession likely if coronavirus becomes pandemic: Moody’s Analytics
“COVID-19 is battering the global economy in numerous ways. Chinese business travel and tourism has all but stopped; global airlines are not going to China and cruise lines are cancelling most Asia-Pacific itineraries. This is a huge problem for major travel destinations, including in the US, where some 3 million Chinese tourists visit each year,” Moody’s Analytics said.
Coronavirus fears drive up credit risk for Gulf crude exporters
US expands its reinsurance program,transfers $400 mn in flood risk to capital markets
As part of the agreement, FEMA will pay $50.28 million in premiums for the first year of reinsurance coverage. Additionally, the agreement will cover 3.33 percent of losses for any single flood event with losses between $6 and $9 billion, and 30 percent if that same flood event has losses that rise to $9 to $10 billion.
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