BUSINESS & ECONOMY

Irdai to color code health insurance based on complexity

The insurance regulator is planning to make it easier for individuals to pick a health insurance policy. To make it simpler, the regulator wants each health insurance product to have a color code that would convey to the buyer the complexity of the plan. In its draft guidelines, the Insurance Regulatory and Development Authority of India (Irdai), has suggested three colors—green, orange and red—that will denote product complexity.

AWARDS & RECOGNITIONS

Two Mumbai-based Start-ups declared winners of first National Start-Up Awards-2020

Two Mumbai-based Start-ups were declared winners at the first National Start-Up Awards-2020. While Taraltech Solutions Private Limited won the award in the Urban Services category, Wealthy Therapeutics won the award in the Health care category. Both winners Taraltech Solutions Private Limited and Wellthy’s Digital Therapeutic suite were shortlisted on the basis of innovation, enterprise, employment generation, and social impact. Taraltech Solutions Private Limited is working on providing clean drinking water to all, especially in rural areas. Wellthy’s Digital Therapeutic suite is a combination of platforms working together for better health.

Emmanuelle Charpentier & Jennifer A. Doudna win Nobel Prize in Chemistry 2020

Emmanuelle Charpentier and Jennifer A. Doudna have discovered one of gene technology’s sharpest tools: the CRISPR/Cas9 genetic scissors. Using these, researchers can change the DNA of animals, plants and microorganisms with extremely high precision. This technology has had a revolutionary impact on the life sciences, is contributing to new cancer therapies and may make the dream of curing inherited diseases come true.

APPOINTMENTS & RESIGNATIONS

J Venkatramu appointed as MD, CEO of India Post Payments Bank

The Government of India appointed J Venkatramu as managing director (MD) and chief executive officer (CEO) of India Post Payments Bank for three years. Venkatramu has over 22 years of work experience across banking services such as payments, mobile banking, retail banking products and has also managed digital financial services projects. India Post Payments Bank is a state-owned entity, under the department of posts, with 100% government equity and is governed by the Reserve Bank of India.

Dinesh Kumar Khara appointed as chairman of State Bank of India

The Government has appointed Dinesh Kumar Khara as chairman of the bank for three years effective from October 7. He has replaced SBI chairman Rajnish Kumar. The new SBI chairman will have a tough task ahead as the banking industry is going through a major crisis due to corona pandemic.

M A Ganapathy appointed as Director General, BCAS

The Appointments Committee of the Cabinet has approved the appointment of M A Ganapathy to the post of Director General, BCAS, for a tenure up to his superannuation on February 29, 2024 or until further orders. He is a 1986 batch IPS officer of Uttarakhand cadre.

OBITUARY

Legendary rock guitarist Eddie Van Halen passed away

Eddie Van Halen, considered one of rock music’s greatest guitar players, died of cancer Yesterday, his son said on Twitter. He was 65. Van Halen is among the top 20 best-selling artists of all time and his band was inducted into the Rock and Roll hall of fame in 2007.