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[ad_1] Dollar off lows, nears 20-year highs after historic bond rout [ad_2] Source link

[ad_1] The awareness of travel insurance has increased since the start of the Covid-19 pandemic, according to a study by Go Digit General Insurance. The study, which analysed Digit data across all travel insurance products between April 2019 and March 2022, revealed a spike in demand for travel policies in FY21-22 compared to pre-Covid levels in FY19-20.  The findings show that In addition to increased awareness for travel insurance, FY22 saw lingering fear of another Covid-19 wave, which encouraged more travellers to buy an insurance policy.  “From 6.4 lakh policies in FY20, the company sold over 12.8 lakh travel policies in FY22, a jump of over 100%. The small drop in demand in FY21 can be attributed to the harsh second wave that proved to be more deadly compared to the first,” it said.  In the first 4 months of 2022, the company has already sold 75 per cent of the total number of travel policies it sold throughout FY21. “This could well be an indication of more Indians finally getting on to that flight, but with the necessary insurance cover,” the study said.  ALSO READ | Home Insurance checklist ahead of Monsoon 2022 The demand for travel policies was highest in February this year, indicating most people travelled in this month.  The top three flight routes for which travel policies were purchased included Mumbai-Delhi, Delhi-Mumbai and Bangalore-Delhi.  The demand for single-trip policy zoomed 215 per cent in FY 22.  “In FY22, Digit sold nearly 11.7 lakh single-trip travel policies, an increase of 215% over FY21. In the financial year ending March 31st 2021, the number of single-trip travel policies sold by the company was lower compared to FY20. The drop can be attributed to the pandemic, which discouraged all forms of non-essential travel in addition to travel advisories and other restrictions,” the study said.  Top reasons for travel claim All risk cancellations, flight cancellations by the operator, booking amendments, and flight delays by the operator were the top causes for travel claims. Compared to FY20-21, FY21-22 saw 3.5x more claims due to flight delays. However, when it comes to claims due to flight cancellation*, the number was 3.5x higher in FY20-21.  What travel insurance covers Travel insurance policy generally provides cover for medical assistance, cancellation cost, loss of passport, baggage loss and flight delay [ad_2] Source link

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[ad_1] REALM Metaverse Gaming to Launch Mobile Beta App on June 21 [ad_2] Source link

[ad_1] By Maj Gen Shashikant Pitre, (Retd) Majority of soldiers in the Indian Army come from villages. Be it in Maharashtra, Haryana, Assam or Tamil Nadu, there is a common thread between the recruits. He is naive, of tough build and is ready to work hard. This raw material is then transformed into a soldier through age old traditions and customs followed since last two centuries and shaped into probably the toughest known fighting machine capable of launching a determined assault on the snow-clad peak of Tololing, of defending a rugged sand dune in Longowal to repel a heavy armour attack or of foiling the evil designs of a vicious enemy in the arduous Galwan Valley. This profile of infantry soldier is the very soul of the Indian Army. There are five factors contributing to his successful evolution. First is an unshakable faith in the regimental traditions. In some cases, his predecessors from father to great-grandfather have served in the same Paltan. Even if he is the first to join, he soon falls in line. He considers it sacrilegious to commit any act that would stain his family reputation. He is bound by the immortal bond of ‘Naam, Namak aur Nishaan’ of his regiment. He imbibes the ‘Espirit-de-Corps’ from his seniors in the unit, but this fusion is a slow operation. Second is the process of his ‘blooding in’ and sustained training in combat. This is imparted in his unit by his seniors and through specialist courses at various schools of instruction. It is a gradual and deliberate exercise requiring time. Third is the leadership. Military leadership is a synthesis of talent, foresight, inquisitiveness, prudence, self motivation and daunted determination. Every soldier is a potential leader and learns the art by following his seniors through successive rungs of junior leadership. He takes time to earn his spurs. The fourth is morale. This is a community attribute. Personal courage, endurance, perseverance, team spirit, ‘Izzat’ of the Paltan, self-confidence, immense will power and capable leadership among others, contribute towards it. The bottom line is a long association with the unit. Finally, the fifth is his identification with his comrades through bonds of religion, region and language. There is no gainsaying that the Indian Armed Forces are the epitome of national integration. Yet proximity of religion, region and language is a great catalyst of oneness in an infantry battalion, where the soldiers together face the bullets. Presently soldiers can serve for a period of 15 to 20 years or beyond, if he is promoted or chooses to serve despite not getting it. He is entitled to his pension only if he serves for more than 15 years. That’s where the bug lies. The pension bills are growing with geometrical progression. In the defence outlay of 2021-22, an amount of Rs 1.2 lakh crore was budgeted for pensions, huge by any standard, which was more than 25% of the total outlay and in excess of the total budgeted amount for Capital Assets. There has been a consistent and justified outcry to limit the expenditure on pensions. The recipe fielded by the Indian Government to achieve this is a new scheme called the ‘Tour of Duty’ or ‘Agnipath’. It entails limiting the service tenure of soldiers to four years including an initial training period of six months. He would get a monthly remuneration of Rs 30000 increasing to Rs 40000 and a terminal benefit of Rs 10 to 12 lakhs, half of which would be contributed by him from his pay in monthly installments. That’s it. No pension, no other retirement benefits, hence no expenditure on their pension! It conveniently overlooks a large number of civilian defence employees, who also contribute to the fattening of the pension fund. The Agnipath is to be trudged by the Armed Forces alone, much that they are used to. A poetic justice indeed! As an aside, not related to its main intent of saving money, the system of drafting soldiers into infantry regiments based on religion, region and language would be scrapped. It is true that organisations must continue to change in their structure, policies and functioning procedures, lest they decay. Change, as well said, is the only permanent entity. However the goal behind the change and its long term effects must not be overlooked. The main objective of this scheme is to save money of the nation, but at what cost? The training of a soldier in six months would be a mere eye-wash. He would not be able to fuse with his Paltan in a matter of about three years. By the time he approaches it, he would already be looking to his life beyond and be concerned of his future. The soul of an Indian fighting force, ‘Naam, Namak aur Nishan’ would take a serious beating. The standard of junior leadership would receive a set-back. The cohesion of an infantry battalion would be affected. This would tell adversely on the morale of the unit and would seriously impinge on the combat effectiveness of the Army. The Tour of Duty needs a serious re-look before it is implemented. In any case, money can’t be the prime-mover for a vital change in the basic ethos of a military outfit. It is a bitter truth that second rate money will deliver a second rate army. At this juncture, no other words than those of Sir Winston Churchill’s uttered as an MP in the House of Commons in 1923 would be more relevant, when he said, “The armed forces are not like a limited liability company to be reconstructed from time to time as the money fluctuates.” (Author is an Indian Army Veteran. Views expressed are personal and do not reflect the official position or policy of Financial Express Online. Reproducing this content without permission is prohibited). [ad_2] Source link

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[ad_1] Cryptoverse: The funds making moolah from messy markets [ad_2] Source link

[ad_1] Crypto Crash Latest News (14th June): Top cryptocurrencies have suffered worst price drop in two years as the global crypto market cap fell below the $1 trillion mark. In fact, around $100 billion has been wiped out from the crypto markets in a day. The global crypto market cap has fallen to $912 billion, down from the $1.04 billion recorded yesterday morning.  At the time of writing, almost every top crypto was in the red with prices of many touching new lows in the last 24 hours, according to CoinMarketCap data (9.10 am).  Bitcoin (BTC) price has dropped by 14 percent percent in the last 24 hours to $21,966. The top crypto’s dominance has decreased nearly 2 percent to 45 percent of the total crypto market. In the last 7 days, Bitcoin price has decreased by massive 26 percent.  Meanwhile, the total cryptocurrency market volume over the last 24 hours increased by 62 percent to $153 billion, indicating massive sell-off of crypto holdings by investors. The total volume in DeFi was $10.55 billion, which is 7 percent of the total crypto market 24-hour volume. Stable coins volume was $136 billion, which is 89 percent of the total crypto market 24-hour volume.  Why market crashed? The massive sell-off in crypto markets was triggered due to fears of another systemic threat after crypto lending service Celsius announce pausing withdrawals due to “extreme” market conditions.  “Bitcoin and the overall Crypto markets bled heavily with BTC falling by over 10% in a single day and dropping below the $21K level as the Dollar Index(DXY) continues to strengthen. The weekly trend for the BTC has broken below the triangle pattern and has fallen below its last support of $24,000,” analysts at WazirX Trade Desk shared in a note.  ALSO READ | Why crypto markets fell “The next  immediate and  key support is expected at $19,000. The market sentiment has dipped to a new fear level of 8, the lowest in almost 2 years. The crypto markets could lose more ground if the Dollar Index stays strong and the Stock market continues to correct,” they added.  Crypto Rupe Index Change Crypto Rupee Index (CRE8) by CoinSwitch fell 27 percent in the last one day to Rs 2245.  CRE8 tracks crypto market performance in INR the time of writing, the index was down by Rs 829 in 24 hours. CRE8 is an Indian Rupee denominated crypto index reflecting Indian marketing conditions. Read more about CRE8 here) Top Cryptocurrency Prices on June 13 Ethereum (ETH): Ethereum price has dropped 15 percent to $1159 in the last 24 hours. In the last 7 days, ETH price has decreased by 34 percent. It is currently ranked second largest crypto asset in terms of market capitalisation.   Binance (BNB): Binance Chain coin’s price decreased by 10 percent to $217 in the last 24 hours. In the last 7 days, BNB price has decreased by 24 percent. It is currently ranked as fifth biggest crypto asset in terms of market capitalisation.   XRP: XRP coin’s price decreased by 6 percent to $0.3134 in the last 24 hours. In the last 7 days, XRP price has decreased by 20 percent. It is currently ranked as 8th biggest crypto in terms of market capitalisation.   Solana (SOL): Solana price decreased  by 4 percent to $28.14 in the last 24 hours. In the last 7 days, SOL price has decreased by 29 percent. It is currently ranked as 9th biggest crypto asset in terms of market capitalisation.   Cardano (ADA): Cardano token’s price decreased by 2 percent to $0.4711 In the last 24 hours. In the last 7 days, ADA price has decreased by 21 percent. It is currently ranked as 7th biggest crypto asset in terms of market capitalisation.   Popular memecoin Dogecoin’s (DOGE) price decreased by 10 percent in the last 24 hours. DOGE is currently ranked 10th in terms of market capitalisation. The price of DOGE at the time of this report was $0.05464. Price of Polkadot (DOT) decreased to $7.16 while  Avalanche (AVAX) price was down by 2 percent to $16.26 in the last 24 hours. Both DOT and AVAX are currently ranked 11th and 16th respectively on CoinMarketCap. Polygon (Matic) price fell by 10 percent to $0.4258 in the last 24 hours. It is currently ranked 18th on CoinMarketCap.  Meanwhile, Tron (TRX) price has also decreased by 18 percent in the last 24 hours to $0.06072. It is currently ranked 13th on CoinMarketCap.  (Cryptos and other virtual digital assets are unregulated in India. They are considered extremely risky for investment. Please consult your financial advisor before making any investment decision) [ad_2] Source link

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[ad_1] VP Harris to meet with law professors ahead of potential overturn of Roe v. Wade [ad_2] Source link