-Scroll.in India has attracted negative attention in recent years as the second most unequal country in the world, after Russia. Spectacular economic growth over the past three decades has made India a global economic powerhouse. Between 1990 and 2016, India’s economy grew at a compound rate of around 7% in current dollars. The Indian economy is now the third largest in the world by purchasing power parity after China and the...
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Parliament panel okays Bill to increase traffic fines by 10% every year -Moushumi Das Gupta
-Hindustan Times Drunken driving will invite a fine of Rs.10,000, talking on phones while driving will result in a fine of Rs.5,000, and for jumping red light, driving without seat belt and helmet, the proposed fine is Rs.1,000. A parliamentary panel has agreed to a 10% annual increase in the fines for various traffic violations including drunken driving, talking on mobile, rash and negligent driving. The panel was studying the Motor Vehicles (Amendment)...
More »Sharp hike in health insurance premium hits senior citizens -Rachel Chitra and Rema Nagarajan
-The Times of India This month, Kolkata-based Mr and Mrs Soubito Banerjee, who are in their 70s, saw their medical insurance premium almost double from Rs 32,000 to Rs 63,000. Chennai-based Annathai Gopalakrishnan (68) will pay Rs 58,000, up from Rs 29,000. In general, a health insurance cover of just Rs 5 lakh for a 65-year-old couple now costs Rs 84,000 per annum, as against Rs 54,000 five years ago. For...
More »FRDI Bill: Depositors' money safer than ever, says Arun Jaitley -Avishek G Dastidar
-PTI FRDI Bill: Jaitley says no need to create fear psychosis, government will consider what panel recommends The Money of all depositors in public-sector banks will be protected and the level of protection will be “much higher than the level which existed till today,” Finance Minister Arun Jaitley told Lok Sabha Thursday. Talking about the Financial Resolution and Deposit Insurance (FRDI) Bill 2017 during his reply to the debate on Supplementary...
More »RBI May Be Either Holding Back Or Could Have Stopped Printing Rs 2,000 Notes, Says SBI Report
-Outlook The Reserve Bank of India (RBI) may either be holding back Rs 2,000 notes or could have stopped printing high denomination currency, says a SBI Research report. Juxtaposing the data presented in the Lok Sabha recently with the one provided by RBI in its Annual Report earlier, the SBI Ecoflash report said today, "we observe" that the value of small denomination currency in circulation up to March 2017 was Rs 3,501...
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