CAIT writes to FM, seeks insurance cover for coronavirus-hit businesses

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Traders’ body CAIT has appealed to Finance Minister Nirmala Sitharaman to direct regulator IRDAI to mandate insurance firms to introduce coverage for disruptions to businesses on account of the outbreak.


In a letter to Sitharaman, CAIT suggested that insurance companies may be mandated to introduce ‘disruptions due to coronavirus’ as an additional cover to fire and materials damage policies, and the existing policyholders may be offered an option to add the additional cover.



Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal highlighted the need for insurers to come up with need-based policies like cover against mosquito-borne diseases and vector-borne diseases, which can cover hospitalisation expenses due to or fixed benefits upon its diagnosis.


CAIT has also sent a similar representation to Commerce Minister Piyush Goyal to take up the matter with Finance Ministry.

Positive rural sentiment pushes tractor retail sales up by 13.52%

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While the entire auto segment is facing pressure, tractor segment is seeing a good traction on the backdrop of a robust rabi output and prevailing crop prices. Also, the increase in rural and agri spending by the government should augur well for the industry.


grew nearly 13.52 per cent in the month of February 2020, while the whole the entire auto segment reported 2.60 per cent growth in retail sales. Going forward, shortage of funds may have a negative impact on tractor sales, says analysts.



The Federation of Automobile Dealers Associations (FADA) of retail rose to 41,485 units in February 2020 from 36,543 units, a year ago.


Commenting on the performance of Mahindra Group during February, this year, Anand Mahindra, chairman of the group observed the tractor industry volumes has shown an encouraging sign of a potential revival in the rural economy.


Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the $ 20.7 billion Mahindra Group, domestic sales in February 2020 were at 21,877 units, as against 18,105 units during February 2019, a growth of 21 per cent.

Getting to know your business credit score

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If you’re not sure how your business credit score may be affecting your organisation, you’re not alone.

Ben Buckton at Experian explains that recent research the carried out revealed almost a fifth of small business owners admitted that they felt they had an insufficient understanding of business credit scores.

For that reason, many small businesses are harming their chances of gaining access to credit, getting better deals from suppliers, and securing additional funding to help grow their business.

When looking to extend a company’s credit facility, a business credit score forms a key part of the decision-making process for financial and commercial lenders, service providers and suppliers.  So, here are some tips on how to improve your credit score:

Tip 1: Be aware of what impacts your credit score

Knowing what impacts and helps your credit score is vital. Bankruptcy, numerous applications for credit accounts in a short time period, and County Court Judgments can harm your score. Prompt payment to suppliers, filing annual accounts, and registering your business with a credit reference agency or directory, all have a positive impact on your credit score.

If you are a company director keep an eye on your own personal finances; if

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