This, despite the standard COVID product making it mandatory to cover co-morbidities – pre-existing ailments – if they necessitate treatment alongside COVID-19. “Co-morbidities can increase the treatment costs by a certain margin, but will not change the whole paradigm. It will not involve, say, chemotherapy or kidney transplant, which can be expensive procedures. Besides, these are limited-period, single-risk policies,” says Sanjay Datta, Head, Underwriting, Claims and Reinsurance, ICICI Lombard. … [Read more...] about Standard COVID-19 health covers with lower premiums from today
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The statutory PF contribution rate was reduced from 12 per cent to 10 per cent (of basic salary plus dearness allowance) by the central government for employees and employers. The purpose was to ensure better liquidity during the three months to tide over the novel Corona Virus Disease-induced nationwide lockdown and the ensuing economic crisis. For example, if your basic salary is Rs 50,000, your employer’s contribution will come down from Rs 6,000 to Rs 5,000. Likewise, Rs 5,000 will be deducted from your salary instead of Rs 6,000 in the regular course. According to the finance ministry and EPFO, this move will benefit 4.3 crore employees, as also 6.5 lakh organisations. … [Read more...] about Lower PF contribution of 10 percent is not mandatory, EPFO clarifies
From a sectoral perspective, it said airlines, hotels, malls, multiplexes, restaurants, and retail may see a significant loss of revenue and profits due to the outbreak, while highly leveraged sectors like real estate developers, telecom companies and power firms may remain a source of increased bad debt, it said. … [Read more...] about Loan recasts to only defer problem, NPAs may zoom up to 14% due to COVID-19: S&P Global Ratings
After the US proclamation that banned non-immigrant visas such as H-1B at the back of COVID-19, Canadian immigration reported a huge spike. For instance, the country saw 11,000 immigrants in May compared to 4,000 in April with significant number of them from countries such as India, China, the Philippines, the US, and Nigeria. … [Read more...] about US visa ban | Is Canada really the next destination for thousands of Indian techies after the US?
No. The lender's primary objective is to determine whether you are a good or bad credit risk. “Your credit scores are only one of the factors used to assess your credit stability and ability to pay back a loan. Lenders look at your overall financial profile,” says Kalyanasundaram. Your credit history, payment history, income and overall present financial situation are also considered. … [Read more...] about Credit report: How you can access it for free and rectify errors