A bulk of H-1B cap registrations, received by the US Citizenship and Immigration Services, were for potential beneficiaries (workers) from India. Of the 2.75 lakh registrations received from sponsoring employers wish to depute or hire workers in the US, nearly 67.7% or 1.86 lakh were from India. Registrations were also filed for 36,300 (13.2%) Chinese workers.
The standard health insurance policy “Arogya Sanjeevani” for all 29 general/health insurance companies will now cover hospitalisation under Covid-19, said Irdai. Each insurance company has been given its own discretion on how to price the product. The cost of the premium is roughly about Rs 1K for every Rs 1 lakh of coverage; coverage can go up to Rs 5 lakh.
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Asking borrowers to defer EMIs only if they have no cash, banks have said that interest for the three months would get compounded if not repaid at the end of the period. This could lead to the borrowers paying for several months more depending on the length of their loans.
A US body representing American technology workers has urged President Donald Trump to suspend for this year the H-1B visa programme, the most sought-after among the Indian IT professionals, to protect their interests amidst the massive layoffs due to Covid-19 pandemic. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers.
Furloughs, leave without pay, salary cuts, layoffs – that’s the story across sectors as the pandemic deepens the economic crisis. Employees of US conglomerate Honeywell, which has a large engineering centre and operations in India, have to take two weeks of unpaid leave in April and May.
Severe cash flow issues making it tough to follow govt directive to pay workers; more lockdown will worsen it.
The Reserve Bank of India (RBI) has rejected requests for standstill in asset classification from banks, dashing the hopes of lenders as well as companies seeking to avoid the defaulter tag.
Investors looking for higher returns post the sharp cut of interest rates in small savings products and bank deposits by up to 140 basis points could turn to banking and PSU debt funds.