New Delhi: Private coverage businesses acquired a premium of around ₹46 crore in the last two years from the railway and its passengers even as making a payout of handiest ₹seven crore in claims beneath the country wide transporter’s tour coverage scheme, an RTI has determined.
IRCTC, that’s a completely owned project of the Ministry of Railways, has entered into an settlement with 3 private coverage agencies via constrained tender – Shriram General Insurance Company Ltd, ICICI Lombard General Insurance Company Ltd and Royal Sundaram General Insurance Company Ltd for its Optional Travel Insurance Scheme which become released in September 2016 with a top rate of ₹0.92 per passenger.
This facility is for confirmed/RAC railway passengers who booked e-ticket thru the reputable internet site of Indian Railway Catering & Tourism Corporation (IRCTC). Under the scheme, a sum confident is paid to the victim/family or criminal heir of the victim because the case may be in case of loss of life/damage of reserved passengers due to train twist of fate/untoward incidents.
While the countrywide transporter bore the insurance premium until August 31, 2018, the cost becomes transferred to passengers due to the fact that and the top class changed into revised to ₹zero.49 consistent with a passenger in October 2018. According to the RTI respond obtained by using Madhya Pradesh-based social activist, Chandra Shekhar Gaur, even as IRCTC has paid ₹38.89 crore to insurance businesses, passengers have to date paid ₹7.29 crore inside the beyond years. The travel coverage affords coverage of ₹10 lakh for demise and everlasting general disability arising out of any educate accident or different untoward incident. For permanent partial disability, you get ₹7.5 lakh. The ₹2 lakh coverage for hospitalization charges for damage is over and above the loss of life or disability coverage. Acts like a twist of fate, robbery, dacoity and other violent acts throughout the teaching journey are blanketed by way of the coverage.
Insurance corporations received 206 claims within the two years, while seventy-two had been rejected.
Officials, when contacted, said claims have been less inside the ultimate years because the number of rail injuries had dipped appreciably. Railway accidents have decreased from 118 in 2013-14 to 104 in 2016-17, to 73 in 2017-18 and in addition to fifty-nine in 2018-19.
Railways also are sporting extra passengers – there’s a boom of 2.09 in step with cent in the range of passengers carried via the Indian Railways for the duration of 2017-18 as compared to 2016-17 and 0.64 according to cent increase in 2018-19 in comparison to 2017-18.
NEW DELHI: Auto enterprise leaders on Wednesday requested the authorities for a stimulus package deal, along with GST reduction on vehicles, for the sector which has been hit via an exceptional slump in income.
In a meeting with Finance Minister Nirmala Sitharaman, enterprise leaders, which includes Maruti Suzuki Chairman R C Bhargava, M&M President – Automotive Sector Rajan Wadhera, who’s also president of SIAM, together with representatives from components quarter body ACMA and dealers body FADA drew interest to the challenges, together with activity losses, faced with the aid of the enterprise.
“Yes, we’ve requested for certain enablers for the auto enterprise and that they have a notion on it. I am very hopeful that there could be a stimulus package (for the auto enterprise) coming quickly,” Society of Indian Automobile Manufacturers (SIAM) President Rajan Wadhera told PTI.
The authorities wanted to apprehend from the industry approximately motives for the droop in the call for and viable solutions to the issue, he stated, including that the heavy industries ministry turned into supportive.
During the assembly, he said, the automobile enterprise broadly presented factors inclusive of issues concerning availability and affordability of financing, growing price of acquisition of cars and alternate in axle load ability for industrial motors that have harm demand.
He said the auto enterprise also reiterated that the pending notification on boom in automobile registration prices should not show up as the world is already reeling below the pressure of low call for.
Wadhera stated the industry additionally apprised the government of the activity losses in the region following the sales slowdown.
On the availability and affordability of finance, he said: “Immediate measures are had to reduce finance price. We advised them (government) that banks ought to be directed to bypass on the repo price cuts to the marketplace.”