BUSINESS
Insurers seek up to 30% premium hike for Jan Suraksha policies from 2021
Insurers are worried about the rising claims expenses on these products and want the prices to be revised. The government’s term insurance scheme, with Rs 330 as premium, and its accident insurance scheme, with Rs 12 as premium, are the cheapest products available in the Indian market. Regular term plans of the same size (Rs 2 lakh cover) would cost up to Rs 900-1,000 per year while accident insurance covers would cost up to Rs 600-700 per annum.
BUSINESS
With IPO and valuation in focus, LIC likely to pare IDBI Bank stake
The government is keen for LIC to start divesting its stake so that the insurer can focus on its core business and also gain financially from the stake sale. The move should help build financial value for the insurer in the run up to its initial public offering
BUSINESS
Want to bat like Suresh Raina or sing like Neha Kakkar? Here’s an option
Startup FrontRow is offering users courses in creative fields as well as sports, with experts in these disciplines serving as guides
BUSINESS
Board exam 2021: Government, CBSE in mission mode to ensure NEP implementation
The 2021 board exam will have a higher reliance on objective-type questions (MCQs) as well as reasoning/analysis-based questions. The changes will be applicable for both Class X and Class XII students taking the exam in 2021. The focus will be on practical application of lessons and concepts learnt in the classroom
BUSINESS
iPhone manufacturing facility violence: Fault lines run deep among contract workers
At Wistron's iPhone manufacturing facility in Karnataka, property and goods worth crores were vandalised. Payment delays and the failure of the company to resolve the issue are believed to be triggered the violence.
BUSINESS
Karnataka Labour Department declares Toyota Kirloskar worker strike and company lockout illegal
On November 13, TKM had suspended 39 members of the union, who, it alleges, were involved in acts of misconduct. They were placed under suspension, pending enquiry. Prior to this, Toyota had declared a lockout at both its plants, located in Bidadi, Karnataka, after the workers called a strike following the suspension of the union’s treasurer early in November
BUSINESS
OKIE Electronics to enter AC, air-cooler segment in 2021; plans to set up factory in Maharashtra
OKIE Ventures, which was set up in 2011, has been contract manufacturing mobile phones, sound systems and accessories for foreign brands. Earlier this year, it launched LED televisions under its own label. Encouraged by the response, it is now venturing into the air-conditioner and air-cooler market
BUSINESS
One-time-usage insurance is slowly becoming a must-have for Indians
Usage-based insurance as a concept has slowly been introduced into the Indian market through the pilot products under the sandbox method. This means that these products only have validity of six months which can be extended further if required by the regulator.
BUSINESS
Influencing the influencers: If you’re good friends with a SocMed celebrity, this could be just the job for you
Customer-facing companies in the FMCG, retail, banking/financial services and e-commerce sectors are looking for Influencer Relationship Managers to manage social media influencers for brand endorsements
BUSINESS
Explained | Why your next iPhone could be made in India and what it means for the country
Once Apple starts making iPhones in India, it would encourage other global electronic majors to set up production facilities as well, giving a boost to the country's ambition to emerge as a manufacturing hub.
BUSINESS
WFH opens up new avenues, reorients career paths for women
The new workaround is working for those who would otherwise have had to ditch successful careers
BUSINESS
Here’s why risk-taking has worked well for Star Health Insurance
Unlike other health insurers, who focus on covering only healthy individuals, Star Health covers even those who have ailments such as cancer, diabetes or cardiac disease. Despite this being a risky strategy, the insurer has done well, and is on course to record 45% YoY growth in premium collection this year
BUSINESS
Here is how you can 'kill' coronavirus through these appliances
A slew of appliances claim to kill the coronavirus present on surfaces, food, air and even water in a few minutes. But are they the need of the hour?
BUSINESS
As placement season approaches, jobless old students seek option to sit for interviews again
Though institutes can allow old students to come back and sit for placements within 2-3 years of passing out, it is only meant for students who opted out of placements to pursue entrepreneurial activities. Now, many institutes are looking at special arrangements.
BUSINESS
How HUL is dealing with sexual harassment and ensuring women are safe at the workplace and beyond
Women employees are encouraged to complain about any sexual harassment without fear of retaliation. To prevent harassment and ensure their safety, women are encouraged to avoid late working hours. When one does work late, her line manager gets an automated alert. Female employees also have the option of having a male colleague escort them home if they leave office after 8:30 pm.
IPO
Exclusive | LIC IPO may not happen before second quarter of FY22
The government is yet to appoint book running lead managers and legal advisors. An embedded value has to be decided, the insurer has to pare its stake in a number of other listed companies and has to tweak its balance sheets to comply with regulations, and the LIC Act has to be amended in Parliament.
BUSINESS
Zero-interest EMIs, gifts, extended warranty and cashbacks: White goods makers go all out this festive season
Every year, sales worth Rs 4,500 crore are clocked between August and December. Owing to COVID-19, there was a 65 percent decline in revenue in April, May and the first half of June. Appliance makers are hoping to make up for it in October and November.
BUSINESS
GRE exam cost up by 3.9% but competitor rates higher, says ETS official
the cost increase for the exam was due to the fact that ETS reviews test fees worldwide on a regular basis and adjusts fees when necessary, the official added.
BUSINESS
Why there has been an 8% increase in sexual harassment complaints at Nifty50 firms
The rising number of such cases signals a growing awareness among women workers about their rights, forcing several companies to ensure safer workplaces
BUSINESS
Explained: Here’s how scores will be calculated in the new colour-coded health insurance plans
Products with a score of 2 or less will be classified green, more than 2 and less than 4 will be orange, while those above 4 and up to 6 will be red. Seven parameters will be considered for the coding system.
BUSINESS
Explained: Here are the changes LIC will have to undergo before it gets listed on exchanges
For one, the LIC Act, 1956, will have to be amended to increase the capital base. Simplification of investment books and additional public disclosures are the other steps. A combination of Indian and international listing is expected to be the model.
BUSINESS
Helloverify's HelloV: Get instant background verification on WhatsApp
Helloverify's new service is targeted at both individuals and small businesses, and people can use this service to verify their tenants, employees, drivers, nannies, security guards, cooks or other domestic help instantly. The service even checks for criminal records apart from identity and address checks.
BUSINESS
Two years of PMJAY: Treatment worth Rs 15,579 crore provided, but insurers, hospitals seek better rates
Close to 12 million hospitalisation-led treatment has been provided under the Pradhan Mantri Jan Arogya Yojana. However, stakeholders are seeking an upward revision of rates for it to become sustainable for hospitals and insurers.
BUSINESS
Exclusive: No single pension regulator; retirement, annuity plans will remain under IRDAI purview: Finance Ministry
In 2015, PFRDA had sought permission from the government to be the sole regulator for all pension products, including those sold by insurers. With this decision, pension products across the financial sector will continue to be overseen by various regulators
