The Bombay High Court allowed the Maharashtra government to intervene in a public interest litigation about the problems faced by mediclaim policyholders. The government told a Bench headed by Chief Justice Mohit Shah that it wanted to intervene to protect its own scheme, Rajiv Gandhi Jeevandayi Arogya Yojnaa, meant for persons below the poverty line. The Bench allowed the government to intervene, adjourning the hearing of the PIL, filed by city-based activist Gaurang Damani, for three weeks.
Earlier, the Court had asked the Insurance Regulatory and Development Authority to find out whether the insurance firms had issued guidelines to third-party administrators (TPAs) on how to recommend claim amounts for mediclaim and other health insurance policies.
More Indians log online to seek information before entering into property deals, claims Google. The Internet is estimated to be influencing decisions worth about $43 billion involving over 50% of real estate buyers. The primary reasons for researching online were easy access to property information and market trends (60%), large comparison options (52%), easy access to contact details of owners and developers (49%) and financing and document processing information (43%). The survey, conducted by consultancy firm Zinnov across 15 cities in India included the metros, Pune, Lucknow and Ahmedabad with 6,196 respondents.
RBI said it will soon come out with a payment bank, as recommended by the Nachiket Mor committee. Payment banks can start operations with a capital of just Rs50 crore, since all their money will be invested in safe government securities. A payment bank will be a bank in every respect except that it cannot lend, thus removing the risk of leverage.