BUSINESS
Employee gap: One year since COVID-19 lockdown, fewer people handling multiple roles at same pay
For the workforce at India Inc, the wait for a salary that complements their current workload is only getting longer, tedious, and less rewarding; forecasters suggest better prospects by mid-2021.
BUSINESS
Looking to offer mental health counselling feature across all products, says Aditya Birla Health CEO
Mental health counselling has been launched in a product feature in the newer version of the insurer's Activ Health policy. Traditionally, only hospitalisation coverage for mental health ailments is provided by Indian insurers.
BUSINESS
Haryana reservation law sparks fears of ripple effect in other States, rise in unemployment
The Haryana government has adopted a new law mandating 75 percent reservation for locals in private sector jobs with a monthly pay of Rs 50,000 or less. However, this could be counter-productive and drive away industries.
BUSINESS
Want motor insurance discounts for good driving behaviour? Zoomcar has a solution
Zoomcar is in talks with general insurers to offer Zoomcar Mobility Services (ZMS) based motor-insurance products in the Indian market. This will offer telematics based solutions where a device installed in your vehicle will observe your driving behaviour.
BUSINESS
Explained: Here’s why global electronics firms want to Make in India
Delays in product and component arrivals, higher import duties, and the incentives being offered to encourage local manufacturing are pushing more companies to begin manufacturing operations in India. Currently, the consumer durables market in India is estimated to be worth Rs 65,000 crore and products made 100 percent in India account for less than 10 percent of this pie
BUSINESS
Soon, IIT students may be attending lectures by IT company CEOs
The Education Ministry has advised IITs to have a higher representation of industry executives at IITs to address the curricular disconnect with industry requirements. Students will benefit as they will know the exact skills in demand in these sectors/companies. However, the move is also likely to coincide with IIT staff getting laid off
BUSINESS
IIM Placements: No COVID-19 blues, as offers and average CTC may see a rise at business schools
Despite a strained economy, 20 percent increase in pre-placement offers; 10-15 percent rise in the number of firms queuing up to hire
BUSINESS
Insurance policy request or claim rejected? Blame the bot
Artificial intelligence bots are now slowly starting to take decisions on whether your insurance claim should be paid or whether you should be allowed to buy a new policy. From your driving habits to fitness behaviour, everything has started being tracked.
MCMINIS
Guess which sector faced highest attrition in 2020
BUSINESS
Big salary hikes may be a thing of the past at India Inc
Consultants are of the view that salary hikes over 10% are unlikely before 2024. Only after the entire population is vaccinated and an economic recovery is on in full swing will things look up on the salary front, they opine
BUSINESS
Explained | How PLI for laptops, computers will boost Make in India
Currently, laptops and tablets worth about Rs 34,000 crore are purchased in India every year. Of these, four out of five are imported — mostly from markets such as China, Taiwan, Singapore, Malaysia and the United States. Getting these devices manufactured in India will reduce the massive import bill and enable India to become an exporter instead. Building semiconductor fabs will be critical to that dream becoming a reality
BUSINESS
Exclusive | PSB-merged banks may get time till FY22 end to cut stake in insurance JVs
Considering that stake sale by merged banks in their insurance joint ventures could be lengthy, they are being given additional time. One entity cannot be a promoter of multiple insurance companies in life and non-life categories.
INDIA
Bovine brouhaha: Why Cow Exam had to be moo-ved?
Sources tell Moneycontrol that the government wants additional time to gauge public interest and also make some tweaks in the syllabus. There are some views that the syllabus is unscientific in nature, said an official.
BUSINESS
Hot desking warms up as Covid-driven remote working continues
Employees previously assigned a seat will no longer have access to that seat on all working days. Instead, seats will be assigned according to a roster. It is estimated that companies could save between Rs 10 lakh-1 crore on a monthly basis if hot desking is adopted and extra floors and office space are given away on rent or leased.
BUSINESS
Your child going to the sixth grade this year? This is what will change in school
The National Education Policy plans to implement vocational topics like carpentry, pottery, weaving and indigenous textiles to impart skills and broad base employment opportunities
BUSINESS
WFH diaries: Employees need masterclass on professional communication
Amidst WFH, contactability is a challenge. Hence there are rising instances improper communication channels for contacting customers, clients which is an unacceptable behaviour.
BUSINESS
Life insurers seek reprieve from ban on sale of indemnity health plans
Life insurers are only allowed to sell fixed-benefit health plans, which offer a lumpsum benefit on diagnosis of an ailment. However, these insurers want to sell cashless and reimbursement health policies as well
BUSINESS
How a missed opportunity in insuring rural India became the business model for Gramcover
Set up in 2017, insurtech firm Gramcover wants to be the one-stop shop for all insurance need for rural India. When even big insurance firms look at rural insurance only from the mandatory angle, Gramcover sells livestock, health, motor and crop insurance -- only to rural customers.
BUSINESS
Aditya Birla Sun Life Insurance looks to double protection share, millennial contribution in two years
Pre-approved sum insured is being offered to customers based on data analytics for ease of purchase, said Aditya Birla Sun Life Insurance MD & CEO Kamlesh Rao
BUSINESS
BSH Home Appliances eyes a bigger slice of the Indian appliance market pie, focusses on more made-in-India products
German firm already starts shifting production of goods from China to India. Company to enter the cooktop segment in India in August 2021 through the Bosch brand to complete their product suite in the kitchen segment.
INDIA
Explained: What is the conflict around abolition of the one-year LLM course?
The Bar Council of India has told the Supreme Court that it will abolish the one-year LLM degree from the 2022-23 academic year.
BUSINESS
Twists in COVID-19: Insurers cry foul over high treatment costs, non-adherence to standard rates
Guarantors are worried about the price of high claims, which will impact balance sheets in FY21. Customers will bear the brunt of rising health costs in the form of increased premiums.
BUSINESS
Twists in COVID-19 cover: Here’s why your insurer can no longer deny, delay hospitalisation claims
Customers will not have to worry about claims delays in Coronavirus hospitalisation incidents after IRDAI nudging insurers to make settlements quickly.
TECHNOLOGY
Too much technology at home not a good thing - here is why
Smart homes with connected appliances is the new trend in India. But, are ignoring the dangers of leaving technology unattended?
