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Railways changes freight policy to boost economy

New Delhi: With an aim to boost economic activities in the country during unlock 3.0, the Indian Railways is offering a slew of incentives, including 50 per cent concession in terminal access charges for covered wagons, to boost freight traffic. A Railway Ministry spokesperson said that its new policy measures will further boost the incentives for all suppliers to transport …

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Lupin launches Covihalt for mild to moderate COVID-19 treatment

Panaji: Pharma manufacturer, Lupin Ltd, on Wednesday announced the launch of generic favipiravir under the brand name Covihalt for the treatment of mild to moderate COVID-19. Favipiravir is authorized by the Drug Controller General of India (DCGI) for emergency use.  The dosage of  Covihalt has been developed keeping in mind convenience of administration. It is available as 200 mg tablets …

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Uber starts hiring again, to recruit 140 engineers in India

Bengaluru: After a wave of layoffs due to Covid-19 disruptions, ride-hailing major Uber on Wednesday said it is recruiting 140 more engineers for its tech teams in Bengaluru and Hyderabad. The engineers will build products in areas such as rider and driver growth, delivery, marketplace, customer service, digital payments, risk and compliance, safety, and finance technology, Uber said. The announcement …

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Banks, NBFCs’ asset quality risks remain elevated: ICRA

New Delhi: Asset quality risks for banks and NBFCs remain elevated despite the recent decline in loans under moratorium, ratings agency ICRA said on Wednesday. Accordingly most of the banks as well as NBFCs have reported a decline in the loans under the phase 2 (June-August 2020) of the moratorium as compared to phase 1 (March-May 2020). “This is due …

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‘Indian auto dealers need to invest more in digital resources’

IANS New Delhi With COVID-19 changing consumer behaviour, automotive brands that further digitise the car-buying experience are better poised for post-pandemic success, suggests new insightsfrom Google. Expectations are changing, and now more than ever, people want the ability to buy and engage with the brand from the comfort of their home, Nikhil Bansal, Head of Industry, Automotive, Google India, said …

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Kia Sonet, compact SUV to be launched

NT NETWORK Panaji Kia Motors India first car manufacturer in the country to reach 1 lakh sales milestone in record time of eleven months Kia Motors India, a wholly owned subsidiary of Kia Motors Corporation, has Tuesday released official images of the interior and exterior of its upcoming Sonet compact SUV. The production-ready Kia Sonet has a distinctive and dynamic …

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LIC announces the financial results for 2019-2020

NT NETWORK Mumbai Life Insurance Corporation of India (LIC of India), India’s largest life insurer, has announced its audited figures for the year ended March 2020. New Business performance by the Corporation for the year ending March 2020 has shown a growth of 25.17 % in its first year premium by posting a highest ever figure of Rs  1,77,977.07 cr. …

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Non-life insurers received 80,900 COVID claims till July 31

IANS Chennai The Indian general insurance industry received around 80,900 Covid-19 claims involving Rs 1,290 crore as on July 31, said an industry official. “Around 80,900 COVID-19 claims have been registered by the general insurers with an estimated claim of Rs 1,290 crore. The average claim amount works out to be Rs 159,456,” an industry official said. The number of …

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Over 40 cr bank accounts opened under PMJDY

IANS New Delhi Six years after the launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY), there are over 40 crore beneficiaries of the scheme, according to government data. The financial inclusion programme launched in 2014 has a total of 40.05 crore accounts under it as of July 22 with total deposits of over Rs 1.30 lakh crore, according to …

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Air India pilots allege blatant discrimination by management

IANS New Delhi Alleging blatant discrimination by Air India’s Personnel and Finance Departments, the pilots have told the national carrier’s management that if such behaviour continues unchecked, the Director, Personnel will be responsible for the consequences. In a letter to Air India Chairman and Managing Director Rajiv Bansal, the pilots’ associations, the Indian Commercial Pilots Association and the Indian Pilots …

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