US, Canada bound students have to take maternity, mental illness, drug addiction cover

Students who are keen on studying in the US and Canada have to buy travel insurance policies that will include maternity and baby cover and riders covering mental illnesses and alcoholic disorders.

Usually, travel insurance is taken to protect a person travelling abroad from untoward incidents, including loss of baggage, travel documents and medical emergency. Universities and embassies in the US, Canada and some of the European countries mandatorily require travel insurance for foreign students.

India expects growth in G&J exports as China slashes tariffs by 65%

Direct exports of jewellery to China as well as that to Hong Kong are expected to see significant growth with Beijing reducing import tariffs by an average 67 per cent on 18 categories of jewellery.

The Chinese customs ta­r­iff commission has reduced ‘most favoured nation’ tariffs for consumer goods covering 1,449 tax categories, including 18 types of jewellery.

NLC to trade power independently

Having secured a licence, Neyveli Lignite Corporation will be independently trading in the power market through a power trading arm. The company hopes that the new development will double its revenue from trading.

NLC has secured a Category I licence for power trading from Central Electricity Regulatory Commission last week. With this licence, the company can independently trade in the power market.

“As a part of its business promotion and diversification plan NLCIL has joined the league of Accredited Power Traders in the country,” the company said.

Only 32% Indians make financial transactions online

Banking transactions, utility bill payment and online shopping are the three top financial transactions users make online, finds a study. However, only 32 per cent respondents who hold insurance policies are comfortable with any value transaction online.

Chota Bheem sells Rs 200 crore merchandise

Chota Bheem has become the first Indian cartoon character to sell merchandise worth Rs 200 crore. Unseasonal nature of the sales across big cities and small towns alike and a large portfolio of products at different price points have been helping steady growth of Chota Bheem merchandise sales year-after-year.

Chota Bheem the cartoon series is being aired through Pogo TV for the past 10 years. Green Gold Animation, the owner of Chota Bheem has been licensing the Intellectual Property to different manufacturers and has been associating with retailers since 2010.

Gold prices to gain momentum after Fed’s policy meeting

Gold prices are expected to move up post the US Federal Reserve’s policy meeting next week. Physical demand from the two largest markets﷓﷓India and China﷓﷓are showing signs of recovery along with positive inflows into gold ETFs. Of late, gold has been trading lower as expectations of a US interest rate hike have been building up in the market due to stronger-than-expected US jobs data. Once the Fed meeting on June 12 and 13 ends, market expects gold to shed its weakness.

Industry worried as De Beers’ forays into synthetic diamonds

The Indian diamond industry is worried about De Beers’ foray into synthetic diamond business with the launch of Lightbox Jewellery. They fear that the demand for natural diamond will get affected due to branded synthetic diamond jewellery from the global giant.

Consumer loan rates to go up

With RBI reversing its interest rate cycle, consumer loan rates are likely to go up. While some of the banks have already hiked MCLR rates, others are likely to follow suit. This will make home, auto, personal and business loans dearer. “There is no option other than increasing lending rates as the cost of funds have gone up. Commerical paper has become costlier by 100 basis points since March. Banks are raising funds through public deposits and CDs and their cost of funds are going to further go up,” said Asuthosh Khajuria, ED and CFO of Federal Bank.