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<keyword id="22293284" type="General" weightage="20" keywordseo="Union-Minister-for-Road-Transport-and-Highways" source="keywords" meta.keywordsubtype="org" meta.entityname="Union Minister for Road Transport and Highways" meta.hostid="261" meta.entityid="Union Minister for Road Transport and Highways">Union Minister for Road Transport and Highways</keyword>, <keyword id="19897455" type="General" weightage="20" keywordseo="Nitin-Gadkari" source="keywords" medley.seotitle="nitin-gadkari" medley.uid="86559631" medley.msid="86559631" medley.seopath="magazines/panache/panache-people-101/nitin-gadkari" medley.containers="panache-people-101" medley.title="Nitin Gadkari">Nitin Gadkari</keyword>, said that the govt has implemented a scheme to provide <keyword id="20322976" type="General" weightage="20" keywordseo="cashless-treatment" source="keywords">cashless treatment</keyword> to victims of road accidents. The minister informed the Parliament on Thursday that the <keyword id="19946335" type="General" weightage="20" keywordseo="Transport-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Transport Ministry" meta.hostid="261" meta.entityid="Transport Ministry">Transport Ministry</keyword> has developed a scheme and begun implementing it on a pilot basis in Chandigarh and Assam. This initiative aims to provide cashless treatment to victims of road accidents. The minister explained that the scheme covers treatment for individuals involved in road accidents caused by motor vehicles, regardless of the type of road. The ministry is implementing this program in collaboration with the <keyword id="19904188" type="General" weightage="20" keywordseo="National-Health-Authority" source="keywords" meta.keywordsubtype="org" meta.entityname="National Health Authority" meta.hostid="261" meta.entityid="National Health Authority">National Health Authority</keyword> (NHA). "Under this scheme, the eligible victims are administered <keyword id="22628782" type="General" weightage="20" keywordseo="health-benefits-packages" source="keywords">Health Benefits Packages</keyword> relating to trauma and polytrauma care at empanelled hospitals under Ayushman Bharat Pradhan Mantri-Jan Arogya Yojana (AB PM-JAY), up to a maximum of Rs. 1.5 lakh for a maximum period of 7 days from the date of the accident," said the minister in a written reply in the <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword>. The scheme is being administered under the aegis of the <keyword id="22628783" type="General" weightage="20" keywordseo="motor-vehicle-accident-fund" source="keywords">Motor Vehicle Accident Fund</keyword>, established under section 164B of the <keyword id="19916485" type="General" weightage="20" keywordseo="Motor-Vehicles-Act" source="keywords">Motor Vehicles Act</keyword>, 1988. The sources of income and the utilization of funds are detailed in the Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2022. The NHA, under the Ministry of Health &amp; Family Welfare, is responsible for the program's implementation in coordination with local police, empanelled hospitals, State Health Agencies, the National Informatics Centre, and the General Insurance Council. Minister Gadkari stated that, in accordance with the Motor Vehicles Act, of 1988, the pilot program for cashless treatment extends support to victims of road accidents caused by motor vehicles, regardless of where the accident occurs. The scheme will help in reducing deaths in road accidents and will help in providing better treatment to <keyword id="20292205" type="General" weightage="100" keywordseo="road-accident-victims" source="keywords">road accident victims</keyword>.

Road accident victims to get free cashless treatment: Nitin Gadkari

<keyword id="6354953" type="General" weightage="20" keywordseo="punjab" source="Orion">Punjab</keyword> government has provided free treatment worth Rs 13.54 crore to cancer patients, state Health and Family Welfare Minister Chetan Singh Jouramajra said on Wednesday. He said 1,265 cancer patients have been provided free treatment under the <keyword id="15598908" type="General" weightage="20" keywordseo="Mukh-Mantri-Cancer-Rahat-Kosh" source="Orion">Mukh Mantri Cancer Rahat Kosh</keyword> in hospitals empanelled with the government. He said instructions have been issued to the health officials for giving impetus to the implementation of the government's health schemes and programmes so that the public may get benefit. "Punjab has a high prevalence of cancer and its treatment involves high costs which is not affordable for the patients belonging to the poor. In order to safeguard the life of the poor patients, this scheme has proven to be a boon for them as they can get free treatment up to Rs 1.5 lakh in any of the 19 hospitals empanelled with the government, including prestigious like <keyword id="40458" type="General" weightage="20" keywordseo="aiims" source="Orion">AIIMS</keyword> in Delhi, PGI in Chandigarh, CMC and DMC, both in <keyword id="6367131" type="General" weightage="20" keywordseo="ludhiana" source="Orion">Ludhiana</keyword>, and Homi Bhabha Cancer Hospital in Sangrur," the minister said in a statement. "Any resident suffering from cancer can apply for this cashless treatment scheme at the empanelled hospital. Also the procedure to approve such cases has been digitalised," the minister said. The patients can log on to www.mmpcrk.gov.in to track the status of their application online. A free travel facility in Punjab Roadways and PRTC buses has been provided for the cancer patients. <h2>Recommended stories: </h2> <div type="Article" hostid="261" msid="95683430" title="India-Australia to share critical resources and minerals to help co-transition to net zero emission target" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div> <div type="Article" hostid="261" msid="95682791" title="Govt raises concerns on growing tobacco crisis in India, says &amp;quot;we are sitting on a ticking timebomb&amp;quot;" mstype="2" mssubtype="0"><payload><![CDATA[seealso]]></payload></div>

Punjab provided free cancer treatment worth ₹13.54 crores to patients

New Delhi, Jun 20 () Yes Bank has partnered with fintech startup Affordplan to launch a co-branded health card on Saturday to address healthcare needs. The co-branded healthcare card will enable families plan and manage their finances for their healthcare needs, Yes Bank said in a release. In addition, Yes Bank's wallet has also been integrated on Affordplan Swasth to enable wallet QR scan for making payments to merchant partners empaneled on the app. People will be able to get a goal-based savings projection chart for medical treatment based on treatment input, access healthcare services and treatments at a discounted price. The co-branded card will have flexible recharges from Rs 100 up to a maximum balance of Rs 1 lakh. The programme has an inbuilt rewards platform, which provides wellness related products and services in the form of rewards and incentives to customers. It is contactless and eliminates cash transactions for the safety of customers at hospitals and pharmacy stores, the bank said. The partnership with Affordplan is a step towards enabling a connected but contactless healthcare payment system. As the country unlocks in phases, it becomes imperative to reimagine the possible and innovate to adapt to the new normal, said Anita Pai, Chief Operating Officer, Yes Bank. Affordplan CEO Tejbir Singh said this is an initiative that has the power to become an agent of change to bring an equal opportunity for curative care to the marginalised and non-marginalised alike. "COVID has already exposed the financial hardships that a family goes through in times of medical emergencies and hence, the need for such a product is strongly reinforced," he said. KPM BAL BAL

Yes Bank, Affordplan launch co-branded cashless card for heathcare needs '

<ul><li><keyword id="6199405" type="UNKNOWN" weightage="20" keywordseo="ayushman-bharat">Ayushman Bharat</keyword> – Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY), <a href="https://pib.gov.in/Pressreleaseshare.aspx?PRID=1546948">gave free medical treatment worth ₹7,500 </a>crore (a little over $1 billion) within a year after launch.</li><li>According to government figures, 60% of the total funds were utilized in intensive medical <keyword id="395015" type="PERSON" weightage="20" keywordseo="Treatments">treatments</keyword> by colleges.</li><li>The scheme targets more than 500 million beneficiaries to reduce the catastrophic expenses on availing medical healthcare. </li></ul> India's flagship health scheme, Ayushman Bharat – Pradhan Mantri Jan Aarogya Yojana (AB-PMJAY), <a href="https://pib.gov.in/Pressreleaseshare.aspx?PRID=1546948">gave free medical treatment worth ₹7,500 </a>crore (a little over $1 billion) within a year after launch. According to government figures, 60% of the total funds were utilized in intensive medical treatments by colleges. A year ago, the government launched the "world's largest government-funded healthcare program," <a href="https://www.livemint.com/budget/news/health-budget-focuses-only-on-ayushman-bharat-other-schemes-ignored-1549049697730.html">setting aside ₹2,400 crore for the year 2018-19.</a> The government later increased the budget by 166% to ₹6,400 crore for the current financial year ending March 2020. The scheme targets more than 500 million beneficiaries to reduce the catastrophic expenses on availing medical healthcare. Families of patients saved ₹12,000 crore The idea was to have cashless and paperless access to services for the beneficiary at the point of service. The scheme promises to cover ₹500,000 per family per year to avail services in government hospital and other some of the partner private hospital. As of now, the beneficiary families have saved ₹12,000 crore owing to PM-JAY, claims the government.However, the scheme leaves out middle class people in India -- that makes up 28% of the country's population. So far now 32 states and Union Territories in India are a part of the scheme. And Delhi, Odisha, Telangana and West Bengal are yet to implement it. “More than 17% of Indian population spend at least 10% of household budgets for health services”,<a href="https://pib.gov.in/Pressreleaseshare.aspx?PRID=1546948">said </a>the government statement in a press release released on September 22.” Separately, UN has also warned that about 5 billion people being deprived of primary healthcare by 2030. See also: <a href="https://www.businessinsider.in/medical-errors-take-five-lives-every-minute-and-cost-40-billion-annually-who/articleshow/71183301.cms">Medical errors take five lives every minute and cost $40 billion annually: WHO</a> <a href="https://www.businessinsider.in/5-billion-people-will-miss-basic-healthcare-as-countries-hold-back-investments-says-who/articleshow/71253074.cms">5 billion people will miss basic healthcare as countries hold back investments, says WHO</a>

Over $1 billion spent on 4.6 million treatments in a year-- the story of the world's largest government-funded healthcare programme

New Delhi, Apr 19 () Insurance regulator IRDAI has directed insurers to take decision on health insurance claims within two hours, a move aimed at alleviating pressure on the country's healthcare infrastructure currently facing the heat of the coronavirus outbreak. In light of prevailing conditions owing to COVID-19 as also taking into consideration the need for alleviating the pressure on the healthcare infrastructure, all the insurers shall decide health insurance claims expeditiously, it said in a circular. In order to ensure that all health insurance claims are responded to quickly, the Insurance Regulatory and Development Authority of India (IRDAI) has directed insurers to "comply" with certain timelines. "Decision on authorisation for cashless treatment shall be communicated to the network provider (hospital) within two hours from the time of receipt of authorisation request and last necessary requirement from the hospital either to the insurer or to the TPA whichever is earlier," the circular said. Further, decision on final discharge should be communicated to the network provider within two hours from the time of receipt of final bill and last necessary requirement from the hospital either to the insurer or to the Third Party Administrator (TPA), whichever is earlier. Irdai has also asked all general and health insurers (except ECGC and AIC) to issue appropriate guidelines to their respective TPA. Regulation 27 of the IRDAI (Health Insurance) Regulations, 2016, specifies norms on settlement/ rejection of claim by insurers. NKD CS HRS

Irdai asks health insurers to settle claims within 2 hrs as COVID-19 scare spreads

(Eds: Change in headline) New Delhi, Apr 19 () Insurance regulator IRDAI has directed insurers to take decision on health insurance claims within two hours, a move aimed at alleviating pressure on the country's healthcare infrastructure currently facing the heat of the coronavirus outbreak. In light of prevailing conditions owing to COVID-19 as also taking into consideration the need for alleviating the pressure on the healthcare infrastructure, all the insurers shall decide health insurance claims expeditiously, it said in a circular. In order to ensure that all health insurance claims are responded to quickly, the Insurance Regulatory and Development Authority of India (IRDAI) has directed insurers to "comply" with certain timelines. "Decision on authorisation for cashless treatment shall be communicated to the network provider (hospital) within two hours from the time of receipt of authorisation request and last necessary requirement from the hospital either to the insurer or to the TPA whichever is earlier," the circular said. Further, decision on final discharge should be communicated to the network provider within two hours from the time of receipt of final bill and last necessary requirement from the hospital either to the insurer or to the Third Party Administrator (TPA), whichever is earlier. Irdai has also asked all general and health insurers (except ECGC and AIC) to issue appropriate guidelines to their respective TPA. Regulation 27 of the IRDAI (Health Insurance) Regulations, 2016, specifies norms on settlement/ rejection of claim by insurers. NKD CS HRS

Irdai asks health insurers to decide on claims within 2 hrs as COVID-19 scare spreads

When I was told about the ‘ICICI <keyword id="50691" type="COMPANY" weightage="20" keywordseo="Digital">Digital</keyword> Village’ at <keyword id="3896834" type="UNKNOWN" weightage="20" keywordseo="akodara">Akodara</keyword> in <keyword id="48360" type="CITY" weightage="20" keywordseo="Sabarkantha">Sabarkantha</keyword> district of <keyword id="6354766" type="COMPANY" weightage="20" keywordseo="Gujarat">Gujarat</keyword>, I was skeptical, because of two reasons: one, How is a ‘digital village’ possible with the lack of infrastructure? and two, when the cities are still cash economies with structured formal sectors, how can a single village be the exception? 
 
My answers were answered on a quick day trip to the village where we actually saw cashless transactions take place smoothly, similar to how things take place in the city. 
 The village was dedicated to the nation by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> in January 2015 to commemorate <keyword id="233016" type="COMPANY" weightage="20" keywordseo="ICICI-Group">ICICI Group</keyword>’s 60 years in India. 
This was done to enable villagers to use technology in various aspects of life including banking, payments, education, among others. 
 
Here, Wi-Fi connectivity is available across the village where transactions as low as Rs. 10 take place on phone through SMS and the Internet. The wifi tower stands tall in the middle of the village. 
 
The objective for this was simple; to show that technology can be used to eliminate barriers that separate rural and urban India. 
 
<a href="http://www.businessinsider.in/ICICI-Bank-to-transform-100-villages-into-Digital-Villages-in-100-days/articleshow/55666437.cms">ALSO READ: ICICI Bank to transform 100 villages into ‘Digital Villages’ in 100 days</a> 
 
So how was it done? 
 First, every adult villager was encouraged to open a <keyword id="6355272" type="CITY" weightage="20" keywordseo="Bank">bank</keyword> account to enable savings and a cashless habit. 
The Bank uses tab banking to open savings bank account which allows customers to open accounts without submitting physical documents. The accounts are being serviced by a dedicated branch and an ATM which did not have a queue when we visited it! 
 
Various cashless transactions are facilitated through Debit Cards, SMS Banking, Online Banking, Cashless Payment Processing and other modes. 
 
The villagers' accounts are also being linked to Aadhar to enable direct transfer of government benefits into savings accounts. 
 
How is it enabled? 
 
<a href="http://www.businessinsider.in/MobiKwik-launches-a-light-lite-app-to-integrate-all-Indians/articleshow/55662642.cms">The cashless economy needed end-to-end payment solution </a>leveraging Rupay cards and SMS banking at the village shops, at the market for the sale of agri-produce and at the cooperative society for sale of milk. All of that was done with the help of the local government in association with the bank. 
 From enabling farmers to access the latest information on prices of agricultural commodities on <keyword id="35258" type="CITY" weightage="20" keywordseo="NCDEX">NCDEX</keyword> to establishing a water treatment plant to provide clean water to the villagers, all the resources were matched in level to the digital offering to create overall development. 
 
The result? 
 
<a href="http://www.businessinsider.in/EXCLUSIVE-Mobikwik-is-willing-to-partner-with-e-wallets-like-Paytm/articleshow/55667167.cms">All earning adults carry minimum cash, get daily payments in their bank accounts</a> and pay instantly for any service. 
What technology has done here is magnificent, if only the same model could’ve been implemented everywhere in the country overnight, to ease the pains of what this unplanned demonetization move has caused, particularly in the rural areas.

India is struggling with the effects of
demonetization while this Digital Village is blooming

<keyword id="6355291" type="ORGANIZATION" weightage="20" keywordseo="Cancer">Cancer</keyword> is a word that we don’t like. It is a gruesome thought that you or your loved ones could get affected by this critical illness that dishevels the life of the affected. In a world where cancer is not limited to genes but can be attributed to any lifestyle vice, it is better to be safe than sorry in the future. There are now over 100 types of cancer that have been recognized to affect any part of your body. In India currently ten lakh people are diagnosed with cancer each year and around six lakh people lose their lives due to this incurable disease. It doesn’t end there- the fight against cancer is inflicted with high treatment costs that have increased substantially in the past few years. Many people spend all their life savings and take up loans to fulfill the cancer treatment costs. While a <keyword id="6354750" type="CITY" weightage="20" keywordseo="health">health</keyword> insurance is advised to combat against high health treatment costs, a comprehensive medical insurance against cancer is strongly recommended. A general health policy isn't enough A general health policy will usually pay only for inpatient hospitalization and for treatment at hospitals in India and the entire treatment cost is not covered. The end amount henceforth would not suffice for the high costs of cancer treatment. To overcome such financial limitations, the <keyword id="382096" type="PERSON" weightage="20" keywordseo="Critical-illness-insurance">critical illness insurance</keyword> is designed to cover medical expenses that your normal health insurance doesn’t cover. In case, you already have a health plan, a cancer plan would complement your existing health policy perfectly to ensure both hospitalizations and out of hospital expenses, which can be overwhelming. Some of the differentiated features of the critical illness insurance are: Affordable premium Amongst multiple EMIs and insurance premiums, you might be worried about how this policy will make a huge dent in your monthly budget. The good news is that a decent policy is quite affordable with high cover sum for relatively low premium. For example, a non-smoking 35-year-old male can get a Rs. 10 lakh cover for cancer for a monthly premium of about Rs. 287. You also have the option to opt for a larger cover cost which relieves you from additional hospital expenses like medication, doctor visits, et. al. A cancer treatment can spread over a few years and it makes sense to buy a policy while you're young because then the policy can run upto 40 years. This ensures that you're insured in all life stages and also reap more benefits from the policy. No sub-limits A cancer insurance policy provides the insurance amount on the first diagnosis of illness irrespective of actual amount spent on treatment to help you recover without worries, as opposed to a mediclaim or any reimbursement plan. This also prevents the hassle of applying for a cashless claim or getting reimbursements for what you've already paid, reducing inconvenience. The decision of which hospital to get treated in also becomes easier when you've got the entire cover at the time of detection. Planning smartly with a specialized insurance can help avoid a situation where the patients get treated at subpar facilities because of lack of funds. Now that you acquainted with the benefits of buying a dedicated cancer insurance policy, here are a few things you should consider while purchasing one: Increased cover Do extensive research and opt for a plan that helps you combat the rising medical costs by increasing you Sum Assured every year. There are many plans in the market that provide a 10% increase in Sum Assured each year and your cover can increase up to 200% of the cover from commencement of the plan until the time of claim. For example, when you choose a health cover of Rs. 30 Lakhs for Cancer for a term of 10 years and choose the increasing cover benefit, every claim free year adds a 10% to your cover. Hence, by the 5th year, your health cover would have increased to Rs. 45 Lakhs. (10% of 30 Lakhs = 3 Lakhs, 3*5 years = 15 Lakhs increase). Major and minor stages of cancer Opt for a plan that continues after the first payout for a minor condition is made. This way you don't have to pay any further premiums and it helps cover you from any future major expenses. Family Discounts You have the option of opting for a floater plan for an all-inclusive coverage for your loved ones, for example if you get your spouse insured as well, you could get a 5% discount on the combined premium for the first year. The cover of your spouse would be independent of yours and will not be affected by the claim you make, in this case. Tax Benefits Another great benefit of cancer insurance plans is that they provide you with a tax benefit under section 80D of the <keyword id="6354751" type="COMPANY" weightage="20" keywordseo="Income-Tax">Income Tax</keyword> Act 1961. Buying a specialized cancer insurance isn't even difficult where you can buy it online, directly from a trusted insurer's website all in ten minutes. Calculate your premium here: 
<iframe src="https://www.iciciprulife.com/health-insurance-plans/cancer-insurance-calculator-times.html?UID=6027&amp;utm_source=TimesInternet&amp;utm_medium=BI&amp;utm_campaign=CancerArticle&amp;cid=Display:Article:TimesInternet:Calculator:DM-TI-Article:HnC:CancerArticle-BI:CancerArticle::Eng::6027:cpc" width="100%" height="400" scrolling="no" frameborder="0">
</iframe>
Disclaimer: The quotes are indicative and TIL bears no legal liability for the calculation.

Here’s how a standalone critical illness plan can protect you in a health crisis

MIGUEL MEDINA/AFP via Getty Images<ul class="summary-list"><li>Analysts at UBS issued a report describing three main investing themes the coronavirus is shaping, and will continue impacting over the next decade: healthcare, technology, and global supply chains. </li><li>They detailed how the sectors are shifting, and how investors would be prudent to position around them. </li><li>For instance, with a renewed focus on genetic research, analysts said they recommend investing in the genetic therapies theme through a diversified portfolio of companies operating in that space.</li><li><a href="https://www.businessinsider.com/prime">Visit BI Prime for more investing stories</a>.</li></ul>The <a href="https://www.businessinsider.com/china-virus-everything-we-know-deadly-2019-ncov-wuhan-spread-2020-1">novel coronavirus</a> has killed thousands of people around the world, roiled financial markets, and upended entire economies in a matter of weeks.Many economists are calling for a <a href="https://markets.businessinsider.com/news/stocks/global-recession-coronavirus-pandemic-rival-2008-great-financial-crisis-imf-2020-3-1029024160">recession</a> to hit the US this year, with the possibility of a recovery sometime next year. Some say a full-blown economic downturn is already upon us.This rapid deterioriation in conditions has also <a href="https://www.businessinsider.com/coronavirus-credit-crisis-bbb-rated-bonds-investment-grade-downgrade-risks-2020-3">flipped some investors' playbooks</a> on their heads, and some investment experts say COVID-19 's ripple effects will extend across industries for years to come. UBS analysts issued a March 27 report digging into the heart of that, laying out major investing themes the coronavirus is altering for the long-term: healthcare, technology, and global supply chains. "While we expect the global economy eventually to recover, we may see changes to lifestyles and business practices, as well as new healthcare and digital technologies, influence the post-pandemic economy," the firm wrote. To that end, analysts in UBS's global <a href="https://www.businessinsider.com/category/wealth-management">wealth management</a> division's chief investment office, led by Laura Kane, offered recommendations for how investors can best position themselves around those fundamental shifts. Here's a rundown of their outlook.<h2>Theme No. 1: 'Health, from genetic therapies to food systems' </h2>The coronavirus - which originated in Wuhan, China and has spread around the world - has "ruthlessly exposed the cracks in our global healthcare system," the analysts wrote, health-tech and <a href="https://www.businessinsider.com/list-telemedicine-startups-put-to-the-test-by-the-coronavirus-2020-3">telemedicine</a> are two industries they expect to grow in popularity.With a renewed focus on <a href="https://www.businessinsider.com/gene-therapy-treats-disease-but-prices-could-strain-us-health-system-2019-2">genetic research</a>, too, analysts said they recommend investing in the genetic therapies theme through a diversified portfolio of companies operating in that space "to manage the risks associated with clinical failure." Gene therapy is an experimental approach to treatment the National Institutes of Health defines as harnessing "genes to treat or prevent disease."Matthew Horwood/Getty ImagesWhile UBS did not provide specific stock recommendations around that theme, the US biopharmaceutical company <a href="https://markets.businessinsider.com/stocks/srpt-stock">Sarepta Therapuetics</a> is one company operating in the space that UBS has <a href="https://www.ubs.com/global/en/wealth-management/chief-investment-office/market-insights/house-view/daily/2019/latest-17122019.html">noted in the past</a>. The spread of the virus is also placing a fresh spotlight on the food supply chain, UBS said, one analysts think is going to drive innovation and create investment opportunities.To capture those themes, they recommend "investing in a basket of food-related opportunities across the consumer, technology, and industrial sectors."<h2>Theme No. 2: 'Digital technologies and cross-sector disruption'</h2>The pandemic should accelerate consumers' shift toward <a href="https://www.businessinsider.com/fintech-ecosystem-report">fintech</a>-based products, the analysts said, as more people are staying home and paying for items online. That won't change anytime soon, they contended. "Anecdotal evidence suggests fintech app downloads across Europe and other developed markets where penetration has been low have risen significantly over the past few weeks," they said. Revenues sourced from financial technology firms are expected to grow over the next decade, UBS said, and the space is enjoying a bump as the World Health Organization encourages cashless payments to stem the outbreak's spread.A WHO spokesperson <a href="https://finance.yahoo.com/news/who-world-health-organisation-coronavirus-banknotes-warning-111019361.html">told</a> Yahoo Finance earlier this month that people should use contactless payments "where possible," and wash their hands after handling cash. <a class="zoomin" href="https://static-ssl.businessinsider.com/image/5e7e64e814f18f1c704f1cf8-960/screen shot 2020-03-27 at 44035 pm.png"></a>UBSRetailers with strong online presences, too, are set to keep benefiting with more consumers confined to their homes are engaging with e-commerce, they wrote. For instance, <a href="https://markets.businessinsider.com/stocks/nke-stock">Nike</a> in its recent earnings <a href="https://news.nike.com/news/nike-inc-reports-fiscal-2020-third-quarter-results">report</a> for the quarter ending in February that its digital sales in Greater China rose by more than 30% while brick-and-mortar retail sales were impacted by stores temporarily closed during the COVID-19 outbreak."Against this backdrop, we continue to believe fintech as a trend should continue to deliver double-digit growth opportunities over the next few years, thus growing at least three times faster than traditional financial services," they added, suggesting investments exposed to the fintech ecosystem could benefit. <h2>Theme No. 3: 'De-globalization and its effects on manufacturing and supply chains'</h2>One major theme the pandemic underscores is the global supply chain's interconnectivity and complexities - <a href="https://www.businessinsider.com/trump-trade-war-us-china-tariffs-lost-no-meaning-2019-11">a feature of the US-China trade war on full display</a>.AP Photo/Pablo Martinez MonsivaisFor instance, the analysts pointed out nearly three quarters of elevators' global components are produced within 60 or so miles of Shanghai.In turn, the pandemic may push companies to consider more domestic supply chains with less reliance on outside ecosystems. "It doesn't necessarily mean on-shoring to high wage countries in Western Europe or North America, but perhaps Eastern Europe, Mexico, or other attractive countries in Asia, to become less dependent on China," UBS said.This would directly benefit companies with more modern factories using fewer humans and more automation, they said, pointing to the German industrial conglomerate <a href="https://markets.businessinsider.com/stocks/siemens-stock">Siemens</a> and its efforts around modernizing its manufacturing processes. "We believe this trend will continue and become even more relevant. Factory automation equipment, robots, and automation software will play an important role to achieve a higher level of automation," they wrote.Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email <a href="mailto:covidtips@businessinsider.com">covidtips@businessinsider.com</a> and tell us your story.And get the latest <a href="/coronavirus-covid19">coronavirus analysis and research</a> from Business Insider Intelligence on how COVID-19 is impacting businesses. <h3>NOW WATCH: <a href="https://www.businessinsider.com/unemployment-numbers-coronavirus-economy-layoffs-2020-3">3.3 million Americans filed for unemployment - and an economist predicts it could be far worse than the Great Recession</a></h3>

UBS outlines 3 major investing themes the coronavirus crisis is shaping today - and breaks down they'll play out in the years to come

<h1>
	 </h1> For a young person in his or her early 20’s, getting a <keyword id="6362363" type="ORGANIZATION" weightage="20" keywordseo="health-insurance">health insurance</keyword> plan is the last thing on the priority list. Unlike the West, where there is a lot of awareness about the need for medical insurance, in India, most people are yet to come to terms with the benefits and financial security that a health scheme offers. In fact, <a href="http://www.businessinsider.in/8-Insurance-Schemes-Modi-launched-and-how-they-benefit-you/articleshow/47418104.cms">Prime Minister Narendra Modi’s policy of insurance-led community engagement</a> stems on the basic philosophy of providing coverage to all Indians. 
 
Most young people procure a health insurance scheme only when they start working. Corporate companies offer health insurance to their employees at an affordable premium. However, corporate health does not offer comprehensive cover, which is why taking up an individual health insurance plan is such a necessity. 
 
Besides being oblivious about benefits of health cover, majority of youth feels that health insurance product is designed for middle age persons with families, senior citizen and critically ill individuals. In reality, this assumption is far from true. People only start relating with the importance of health insurance in mid-30s and 40s or when they are faced with a medical emergency and regret not taking a comprehensive health plan early on in life. This is because taking a health insurance at the start of a career (let’s assume 24 years) has many benefits such as – 
<h2>
	You pay less premium amount</h2>
 The biggest deterrent why most people hesitate taking a health insurance plan is that the premium amount they pay each year seems like an unnecessary expenditure. It is not only naïve to put a price tag on one’s health, but it is also important to view this expense as an investment in your health. Lifestyle diseases such as hypertension and diabetes are on the rise affecting more and more younger people. While the average age of the onset of diabetes is believed to be 45 years, doctors and physicians across various hospitals in the country have <a href="http://www.dnaindia.com/health/report-the-young-the-diabetic-2037486">reported</a> that a lot of people in 20’s and 30s are being diagnosed with Type II diabetes. It is to be noted that diabetes is the underlying cause for some ailments like kidney disease, heart-related disorder, and even stroke. 
To give perspective, taking a health insurance plan at a younger age means that you will be required to pay lower premium rate. The math is simple; greater the age, higher will be the premium. 
<h2>
	You get a health cover, even when you travel</h2>
It’s a common thing for working individuals in their early 20’s to plan holiday and trips with friends and colleagues. Although it is highly unlikely that a medical emergency will strike, it doesn’t hurt to be prepared for one. So, whether you are on a weekend getaway trip to Manali, Shimla or Lonavala or a holiday of the year to Goa, your medical insurance plan will come in handy. This is because more health plans such as <a href="https://www.hdfcergo.com/health-insurance.html">HDFC ERGO medical insurance</a> have tie-ups with a range of hospitals and multi-specialty clinics across India. All you have to do in go to a partner hospital and receive cashless treatment. In case you are visiting a non-partner hospital, you can produce the bills so as to get 100% reimbursement. 
<h2>
	You do not have to worry about waiting period</h2>
As per medical insurance terminology, waiting period is defined as the duration of time (which is usually 3-4 years, depending upon the policy), during which you cannot make any health claims for certain diseases. Buying, the health insurance at a younger age means, that by the time you need the assistance of the policy you have already exhausted the waiting period. This point stands valid with the statement- that you buy a health insurance when you don’t need one. 
<h2>
	You get a cover on wide range of procedures</h2>
Cashless hospitalizations, reimbursement on medical bills are some of the standard benefits of a comprehensive health insurance plan. In addition to that, the medical plan also covers an array of day care procedures like a minor eye surgery, skin tag removal, sinus operation, etc. that do not require hospitalization. 
<h2>
	You can avail tax benefits</h2>
Taking a health insurance plan at a young age means that you will start enjoying tax benefits. Under the section 80D of the Income-tax Act, an individual who has an ongoing health insurance policy can avail tax benefits. 
<h2>
	In conclusion</h2>
Learning the art of financial planning early on in life can prove to be highly beneficial in the long run. For a young person who has recently joined the workforce, the start can be by <a href="http://economictimes.indiatimes.com/wealth/insure/eight-reasons-to-buy-health-insurance-before-you-turn-30/articleshow/37317352.cms">taking up an optimum health plan</a>. Medical treatment is expensive and often come unannounced. Therefore, to secure your finances and saving, it is wise to take a health insurance cover in the early 20’s of life. 
 
(The article is authored by <a href="https://plus.google.com/+UtkarshSahu9?rel=author">Utkarsh Sahu</a>, a digital strategist with over three years of writing experience for business magazines) 
 
(Image: Thinkstock)

These are the 5 reasons you should get health
insurance in your early 20s?

There are no two ways about it and no easier way of saying this- The government’s drive to make illegal 86% of its <keyword id="37885" type="ORGANIZATION" weightage="20" keywordseo="Cash">cash</keyword> in a bid to uproot corruption is an unmitigated management disaster of colossal levels. In fact, I fear tones of Op-eds will soon be written on the management lessons one needs to take out of this entire episode, that is as soon as the country and the economy emerge out of the gutter that this move has pushed it into. 
 
A little too harsh for a man with such noble ideals? <a href="http://www.businessinsider.in/These-are-Olas-biggest-product-innovations-created-as-a-result-of-direct-user-insights/articleshow/55498327.cms">Well, the fact is ideals are good when followed with a plan in hand.</a> In this case, there was none. What was there, however, was trash bags full of jingoism, short-sightedness, and the overt desire to repeatedly bring forth one’s own power in all its 56 inches of glory! 
 However, what has seemed to help Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> in this humongous, yet the tremendously flawed vision is how divided as a nation we are today. Even as most of ‘honest’ India stands in serpentine queues, the fact to marvel at is they’re ready to bear this, all for the sake of the nation! <a href="http://www.businessinsider.in/Demonitization-hitting-Jewellery-and-Fashion-hard/articleshow/55479794.cms">The reality however is, it’s only jingoism at work. And the truth about jingoism is that it works best on people who aren’t sufficiently educated or literate and 70% of India’s population, </a>residing in tier 2 and 3 cities and its villages have been at the forefront of bearing the brunt of the lack of any decent educational facilities. 
 Well, what’s happening right now stinks of elitism and how deep-rooted inequality is all the way through to the highest corridors of the society. How else can one explain a salaried person having not one penny of cash in pocket, living life effortlessly cashless supporting <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword>’s bravado and the cries of pain of a mother in rural India who can’t withdraw enough money every day to pay for her child’s treatment at a private hospital , which refuses to accept the old <keyword id="6378917" type="ORGANIZATION" weightage="20" keywordseo="Currency">currency</keyword>! The sate of public healthcare, we are all aware of, however! 
 So careless is this government of its helpless, the poor in rural India, ironically comprising 70% of its population that it has already remarked and categorized the death of over 47 people directly in concern with <keyword id="6362150" type="UNKNOWN" weightage="20" keywordseo="demonetization">demonetization</keyword> as ‘temporary hardships’ to ‘honest citizens’. 
 
<a href="http://www.businessinsider.in/Exclusive-Jio-is-starting-home-delivery-for-its-SIM-cards/articleshow/55498612.cms">ALSO READ: Exclusive: Jio is starting home delivery for its SIM cards</a> 
 
What was the government thinking when it stifled 84% of the cash out of an economy that has 78% of all its transactions purely based on cash? The big sharks with black money weren’t storing that at home, it were the small traders, whose business models are entirely cash-based that had tones of cash stored at home. These would comprise people in the Agriculture sector, transport sector and all of the daily-wage labor market. 90% of all of India’s job market is cash based and to stifle it off most of its cash is to bring the functioning of one of the fastest growing world economies to a grinding halt. 
​ 
If these conditions were to prevail, essentials like vegetables and milk will stop getting transported across cities, hitting inflation, work in sectors like agriculture and construction have already been severely impacted and there are fears of much worse happening

The impact of Demonetization: United we never stood, divided
we have been dragged into the gutter

<ul><li>India’s President’s address was full of praises for <keyword id="6387077" type="UNKNOWN" weightage="20" keywordseo="narendra-modi-government">Narendra Modi government</keyword>. </li><li>However, some of the accolades may be exaggerated or not in sync with facts.</li></ul>Ram Nath Kovind, India’s President for eighteen months, took the lead to give the country’s Parliament a report card on behalf of the four-and-a-half year old Narendra Modi government. Kicking off the <keyword id="105431" type="ORGANIZATION" weightage="20" keywordseo="budget-session">budget session</keyword> of Parliament, Kovind, in a speech that lasted over an hour, gave a glowing tribute to the incumbent government that will be seek re-election in less than 100 days from now. The following are some of the highlights of Kovind’s laudatory speech, each followed by facts that may question the President’s conviction about the Modi government’s performance. 1. “Compromising with security needs is not in interest of present &amp; future of country. New deals in last year, purchase of defence equipment raised morale of defence. After decades, Indian Air Force will use ultramodern Rafale aircraft in coming months &amp; strengthen itself.” The government auditor – the Comptroller and Auditor General of India – is yet to <a href="https://www.news18.com/news/india/only-3-copies-of-cags-rafale-report-likely-to-reveal-pricing-details-parliament-may-get-redacted-version-2018409.html" data-type="tilCustomLink" target="_blank">submit</a> its report on the government’s deal to purchase 36 Rafale aircraft for an undisclosed sum of money. Giving a clean chit to the government on the <a href="https://economictimes.indiatimes.com/news/defence/all-you-need-to-know-about-the-rafale-deal-controversy/jet-set-go/slideshow/65079741.cms" data-type="tilCustomLink" target="_blank">alleged irregularities</a> may be premature. 2. “Youth are the greatest strength of our nation. India has the largest number of young people in the world, and the policy decisions of my Government have been inspired by the aspirations and dreams of young Indians of 21st century.” The President said this on the day a report revealed that employment in the Indian economy was at its <a href="https://www.businessinsider.in/unemployment-in-india-is-at-its-highest-in-45-years-says-an-indian-daily-citing-an-undisclosed-jobs-survey/articleshow/67769020.cms">worst</a> in 45 years, a labour survey that the government has not made public yet. 3. “GST has benefited businesses by bringing in more honesty and transparency." In December 2018, the All India Manufacturers’ Organisation (AIMO), <a href="https://www.businessinsider.in/indias-micro-and-small-enterprises-saw-a-whopping-32-drop-in-jobs-in-the-last-4-years-survey/articleshow/67123219.cms" data-type="tilCustomLink" target="_blank">said</a> small businesses across the country lost over 3.5 million job losses since 2014. The job losses were attributed to a 70% drop in operational profits in the MSME sector since 2014, according to K E Raghunathan, president of AIMO. 4. “By decreasing the burden of income tax and keeping the rate of inflation under control, the government has created new opportunities for expanding the savings of the middle class.” Despite the government’s best intentions, the “current (consumer) sentiment on the general economic situation dipped further into the pessimistic zone” – this is the finding from a consumer confidence <a href="https://rbi.org.in/Scripts/PublicationsView.aspx?id=18729"></a><a href="https://rbi.org.in/Scripts/PublicationsView.aspx?id=18729" data-type="tilCustomLink" target="_blank">survey</a> conducted in six Indian cities by the Reserve Bank of India. In fact, the consumer confidence is at its lowest it has been since Modi government took charge. Indeed inflation has been low for much of the current government’s tenure, jobs have been scarce and income growth very tepid, making middle class consumers penny wise. 5. “Demonetisation was a defining moment in the govt’s war on corruption and black money. This decision struck at the very root of the parallel economy thriving on black money; and the money outside the formal system was brought within the ambit of nation’s economy.” One of the defining steps against black money taken by the Modi government, by its <a href="https://www.financialexpress.com/economy/modi-says-demonetisation-forced-nirav-modi-vijay-mallya-to-flee-curbed-black-money/1431229/"></a><a href="https://www.financialexpress.com/economy/modi-says-demonetisation-forced-nirav-modi-vijay-mallya-to-flee-curbed-black-money/1431229/" data-type="tilCustomLink" target="_blank">own admission</a>, was demonetisation. However, contrary to the hope that a big chunk of unaccounted cash stashed away will be left worthless, nearly all the <a href="https://economictimes.indiatimes.com/news/economy/finance/after-almost-two-years-of-counting-rbi-says-99-3-of-demonetised-notes-returned/articleshow/65589904.cms"></a><a href="https://economictimes.indiatimes.com/news/economy/finance/after-almost-two-years-of-counting-rbi-says-99-3-of-demonetised-notes-returned/articleshow/65589904.cms" data-type="tilCustomLink" target="_blank">banned notes</a> have returned to the system. What came to a grinding halt was the <a href="https://economictimes.indiatimes.com/news/economy/policy/demonetisation-hit-growth-by-2-percentage-points-us-study/articleshow/67154320.cms"></a><a href="https://economictimes.indiatimes.com/news/economy/policy/demonetisation-hit-growth-by-2-percentage-points-us-study/articleshow/67154320.cms" data-type="tilCustomLink" target="_blank">Indian economy</a> leading to job losses. 6. “Government has approved ₹25,500 crores for ‘Namami Gange Mission’. By stopping the flow from dozens of big drains into the river, by stopping the industrial waste, and by setting up sewer treatment plants, my government has shown proactiveness to clean up Ganga.” Indeed the money has been allotted and a lot has been spent, but is it working? India’s waterman <a href="https://www.businessinsider.in/why-indias-waterman-thinks-the-governments-3-5-billion-plan-to-clean-up-ganga-is-not-working/articleshow/67672185.cms"></a><a href="https://www.businessinsider.in/why-indias-waterman-thinks-the-governments-3-5-billion-plan-to-clean-up-ganga-is-not-working/articleshow/67672185.cms" data-type="tilCustomLink" target="_blank">Rajendra Singh</a> believes that a clean Ganga may still be a distant dream. 7. "Government's digital plan is helping rural India." Once again, one of the stated goals of demonetisation was to make India a cashless society and push people towards digital payments. It seemed to work in the initial days of the cash crunch, but soon after, people were back to using cash, and in fact, it is <a href="https://www.livemint.com/Money/Oxohtwl6CBCWjnfjdbHCEL/Cash-transactions-up-after-demonetisation-but-Indias-ATM-ne.html"></a><a href="https://www.livemint.com/Money/Oxohtwl6CBCWjnfjdbHCEL/Cash-transactions-up-after-demonetisation-but-Indias-ATM-ne.html" data-type="tilCustomLink" target="_blank">now more than before</a> demonetisation. 8. “In 2014, only 59 village panchayats in the country had digital connectivity. Today, 1 lakh 16 thousand village panchayats are connected with optical fibre and about 40 thousand village panchayats have been provided with wi-fi hotspots.” The other big pillar of the Digital India dream is to allow millions of Indian villagers access to internet through a broadband network that spans the length and breadth of the country. The network has been laid for the first phase covering one lakh villages, but only 10% of the network is getting utilised. This has <a href="https://www.deccanchronicle.com/business/in-other-news/220119/rs-42000-crore-bharatnet-projects-face-delay-cost-overrun.html"></a><a href="https://www.deccanchronicle.com/business/in-other-news/220119/rs-42000-crore-bharatnet-projects-face-delay-cost-overrun.html" data-type="tilCustomLink" target="_blank">reportedly</a> led to the department of telecom warning the two implementing agencies, as recently as last week. India is ranked 91st among 139 countries on the Networked Readiness Index 2016, according to the <a href="http://reports.weforum.org/global-information-technology-report-2016/networked-readiness-index/"></a><a href="http://reports.weforum.org/global-information-technology-report-2016/networked-readiness-index/" data-type="tilCustomLink" target="_blank">World Economic Forum (WEF)</a>). 9. “By enacting RERA law, my govt has ensured that construction of houses is completed and they are handed over to the buyers as scheduled. After enactment of this law, about 35,000 real estate projects have been registered where lakhs of houses are being constructed.” The Real Estate Regulation Act is a potential game changer for India’s tainted real estate industry, infamous as a haven for ill-gotten wealth, but the reform measure has made little progress since it was rolled out in May 2017. “States have notified the act but, unfortunately, the structures of the RERA machinery in most of the states have not been put in place,” Samantak Das told the <a href="https://economictimes.indiatimes.com/wealth/real-estate/poor-implementation-of-rera-across-states-poses-a-challenge-to-home-buyers/articleshow/66375451.cms"></a><a href="https://economictimes.indiatimes.com/wealth/real-estate/poor-implementation-of-rera-across-states-poses-a-challenge-to-home-buyers/articleshow/66375451.cms" data-type="tilCustomLink" target="_blank">IANS</a> in October 2018, adding that, “"After constituting a model act at the central level, the Union government has a role to look at whether the states are adhering to the central legislation and implementing it in true letter and spirit.” 10. “Be it cities or villages, the government is working at a fast pace to strengthen healthcare related infrastructure.” The government last year set a target of raising annual health spending to 2.5% of India’s gross domestic product (GDP) by 2025, from 1.15% now-- which is one of the lowest proportions in the world. Nepal (2.3%) and Sri Lanka (2%) spend more on healthcare than the government in India does. 11. “Thirty four crore bank accounts have been opened in the country because of ‘Jan Dhan Yojana’ and almost every family is now connected to the banking system. Today, Rs 88,000 crore deposited in Jan Dhan accounts is a testimony to the changing saving habits.” While it is true that the government pushed millions of Indians to have a bank account for the first time in their lives, it is still not a universal phenomenon. According to an August 2018 report from NABARD, nearly 190 million people still do not have access to a bank. Only “49% households reported that at least one of their members had saved any money in an institution (banks, post office etc.),” according to the report. 12. "Our daughters are making remarkable contribution in every field today and have brought laurels to the country. It is for the first time since independence that the policies &amp; programmes of the Govt have created numerous new opportunities for enterprise for women" It is true that there are more conversations about ending the discrimination against women today than ever before, but it is a global phenomenon too. However, presidential speeches have little impact unless it is forced into practice, particularly among public personalities like members of Parliament. In India’s political sphere, there is more sexism than oxygen in the air. Most recently the newly-appointed Congress general secretary <a href="https://www.indiatoday.in/elections/story/pretty-face-no-other-talent-bihar-minister-s-sexist-remark-about-priyanka-gandhi-1438935-2019-01-25" data-type="tilCustomLink" target="_blank">Priyanka Gandhi </a>was at the receiving end of jibes that called her ‘chocolate face’ and ‘Surpanakha’ (a demon from Hindu mythology). But is not BJP’s forte <a href="https://www.timesnownews.com/india/article/bjp-up-chiefs-sexist-joke-on-mayawati-akhilesh-and-mulayam-over-1995-guest-house-incident-raises-a-storm/355537" data-type="tilCustomLink" target="_blank">alone.</a> It’s something that unites the country’s <a href="https://www.newsbytesapp.com/timeline/Politics/39755/176209/congress-and-bjp-can-t-be-absolved-of-sexist-remarks" data-type="tilCustomLink">political class</a> more than anything else. Meanwhile, in India’s booming private sector, 40% of <a href="https://www.businessinsider.in/a-whopping-40-of-indias-women-engineers-dont-have-jobs-because-of-rampant-sexism-at-workplace/articleshow/67486684.cms">women engineers </a>in India do not have a job because the country’s corporate culture has a gender bias. See Also: <a href="https://www.businessinsider.in/unemployment-in-india-is-at-its-highest-in-45-years-says-an-indian-daily-citing-an-undisclosed-jobs-survey/articleshow/67769020.cms">Unemployment in India is at its highest in 45 years – says an Indian daily citing an undisclosed jobs survey</a> <a href="https://www.businessinsider.in/indian-government-commits-to-increasing-public-health-spending-to-2-5-of-gdp-by-2025but-is-that-enough/articleshow/67086285.cms">Indian government commits to increasing public health spending to 2.5% of GDP by 2025—but is that enough?</a>

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