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No more free insurance for train travel, opt out or pay up: Railways
Posted on 11th August 2018
The Indian Railways will not provide free travel insurance to its passengers starting September 1, an official said on Saturday.

A senior Railway Ministry official said that the Indian Railways Catering and Tourism Corporation (IRCTC) has decided to stop free travel insurance starting September 1.

Travellers while booking tickets through its website or mobile application will have to choose from two options: to opt-in or opt-out of travel insurance.

He said that in a bid to promote the digital transaction, the IRCTC has been giving free travel insurance to passengers since December 2017.

The railways had earlier also waived off ticket booking charge for users who make payments via debit cards.

The insurance provided by the IRCTC had a maximum cover of Rs 1 million in case of a person's death during a train journey, Rs 750,000 if a person is disabled due to an accident, Rs 200,000 if injured and Rs 10,000 for transportation of mortal remains.

The order to charge for the travel insurance will be generated in a few days.

However, the amount has not been disclosed yet.


Other Latest News
Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee
Posted on 17th November 2018
The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee.

A higher opening in European shares too influenced sentiments here.


India set to buy Seahawk helicopters from US for $2 billion
Posted on 17th November 2018
Washington: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according to defence industry sources.

The deal is likely to be finalised in a few months.


Relief for Hyundai: Supreme Court stays Rs 420-crore fine
Posted on 17th November 2018
The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions.

Analyst Corner: Retain ‘buy’ on Ashok Leyland, target price Rs 135
Posted on 17th November 2018
The EBITDA margin at 10.6% for Q2FY19 missed our/consensus estimates by 60 bps on lower realizations and higher commodity costs. The bigger surprise was resignation of Vinod Dasari with effect from March 31, 2019. Dheeraj Hinduja will take over as the executive Chairman till the Board finds a suitable replacement.We expect FY20 earnings to benefit from a confluence of factors (higher volumes, lower discounts, higher operating leverage) on BS6 pre-buy.

GVK Power gets approval to raise Rs 8,000 crore for debt repayment
Posted on 17th November 2018
GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore.

The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday.


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