Govt to expedite sanctioning of claims beneath its flagship insurance coverage schemes



Finance Minister Nirmala Sitharaman will meet heads of private and non-private insurance coverage corporations to expedite sanctioning of claims beneath the PM Jeevan Jyoti Bima Yojana (PMJJBY) and the PM Suraksha Bima Yojana (PMSBY).


The assembly may also give attention to simplifying procedures and documentation to settle claims beneath the federal government’s flagship insurance coverage schemes in a time-bound method in the course of the pandemic. This comes a month after the Finance Minister had intervened and requested Insurance coverage Regulatory and Growth Authority of India (Irdai) to resolve the issue of Covid-19 sufferers being denied cashless medical health insurance claims by hospitals and insurance coverage corporations.


“The assembly on Saturday is predicted to additional ease and pace up processes for them,” mentioned the Ministry of Finance.


About 103 million subscribers have availed PMJJY, which offers life insurance coverage cowl price Rs 2 lakh at Rs 330 each year to all account holders aged between 18 and 50 years, as on Might 5. The PMSBY, which offers accident cowl of Rs 2 lakh at Rs 12 a 12 months to account holders aged 18 to 70 years, has 234 million subscribers.

Read More

Masayoshi Son-led SoftBank Group might make investments $700 million in Flipkart



Masayoshi Son-led SoftBank Group Corp is in talks with Flipkart to speculate $700 million within the e-commerce big, in accordance with the reviews by The Financial Occasions and Mint. Japan’s SoftBank is seeking to spend money on Flipkart, three years after it offered its complete stake within the firm to Walmart Inc, the world’s largest retailer.


It has been reported that the financing is an element of a bigger $2 billion spherical. Sovereign wealth funds comparable to Abu Dhabi’s ADQ and Canada Pension Plan Funding Board (CPPIB) are anticipated to take part on this spherical. Present buyers comparable to GIC and Qatar Funding Authority can also make investments. The transaction is more likely to worth the Bengaluru-based agency at $25-30 billion.





Final July, Walmart led a $1.2-billion spherical in Flipkart, valuing the e-commerce agency at $24.9 billion. The Bentonville-based firm (in Arkansas) is locked in a battle with US rival Jeff Bezos-led Amazon and Mukesh Ambani-owned Reliance’s JioMart for dominance in India’s on-line retail market by way of Flipkart, which it purchased for $16 billion in 2018.


Walmart-owned Flipkart and PhonePe, the digital funds agency,

Read More

Chick-Fil-A, Pastime Foyer Outed For Ties To Anti Equality Act Group

The LGBTQ Neighborhood could also be in a celebratory temper this June as they mark the primary Delight Month below President Joe Biden, however an try and roll again the freedoms and rights which have already been granted, in addition to stall new protections, is underway with some formidable opponents lining as much as try to stall the Equality Act.

In response to an explosive report from The Every day Beast, a “darkish cash” operation by the Nationwide Christian Charitable Basis (NCF), which is on the frontlines of the struggle towards the Equality Act, is at work to try to stall the Equality Act as soon as once more in Congress and have it killed by the Senate Filibuster. The group, which is a donor-advised fund, is operated in a approach the place those that donate to it will probably suggest the place the cash is allotted to. An in depth community of supporting organizations which might be believed to be fronts for outdoor donors who need a extra determinate strategy for his or her funds can be concerned, which is taken into account darkish cash.

Among the many most high-profile donors on the NCF are names which have lengthy

Read More