According to the report compiled by Swiss Re named World Insurance in 2010, and published on 6 July 2011, India overtook Spain to become the 11th largest insurance market in the world. Indian insurance market jumped up 10 places in the last decade. India’s market share increased because of the shrinkage in several European markets. USA is the largest insurance market in the world according to the report.
Swiss Reinsurance Company Limited is generally known as Swiss Re. It is a Swiss reinsurance company. The Company is headquartered in Zurich. Swiss Re was founded in 1863.
Swiss Reinsurance Company Limited is generally known as Swiss Re. It is a Swiss reinsurance company. The Company is headquartered in Zurich. Swiss Re was founded in 1863.
Coal India that made its debut on stock exchanges on 4 November 2010 became the country's fifth most valuable company with a market capitalisation of Rs 2.03 lakh crore within the first hour of trade in the opening day. State-run Coal India left behind Infosys, power utility NTPC Ltd, the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter into the club of top 10 most valued firms. ONGC Ltd and State Bank of India were the only two public sector entities that are ahead of Coal India in terms of full market capitalisation.
A study titled Being five star in productivity — road map for excellence in Indian banking was released FICCI-IBA-BCG on 22 August 2011, the eve of IBA-FICCI annual banking conference. The theme for the banking conference was decided to be Productivity Excellence.
According to the study, India's gross domestic product (GDP) growth will make the Indian banking industry third largest in the world by 2025. The report chalked out an action agenda for banks, based on insights from an extensive productivity benchmarking exercise conducted across 40 banks.
The report highlighted that banks have to strive for excellence on five dimensions: branch sales and service, new channels, lean operations, organisation design and bad debt management.
The report stated that branches of banks can generate higher levels of revenue for the banks. Indian banks deploy 62 per cent of staff in customer facing roles as against the benchmark of 82 per cent observed by BCG globally.
Break-out growth in usage of new channels will characterise the next decade in Indian banking. Among the new channels, mobile phones, propelled by 3G and smart phone technology, will emerge as an undisputed winner by 2020 accounting for 20-30 per cent of total transactions. ATMs have seen exponential growth in usage but are far from maturity with just about 50 per cent adoption even in metros. New channels will not only enhance the productivity but can be a source of new customer acquisition.
Indian banks, the report mentioned were to be doing well overall with industry cost-income ratio below 50 per cent.
However, there remained plenty of scope for betterment. On an average, Indian banks have about 20 per cent of staff deployed in back-office processing (for some banks, as high as 40 per cent) as against a global best of 10 per cent observed by BCG. Process re-engineering and operating model change if employed could help reduce costs, improve service, and contain operating risks.
Public sector banks were found to be under-investing in technology with spends at about 25 per cent of global benchmarks. An Indian banks average administrative overhead at about 11 per cent of the total staff is in line with what BCG has observed globally.
The banking industry was holding low headcount in HR and finance roles. Variable pay at 2 per cent of fixed compensation is far below the 12-15 per cent that is optimal for incentive compensation. The public sector as per the report urgently needed an adjustment in its compensation structure. The industry has an impressive bad debt performance and the bad debt levels in priority sectors of MSME and agriculture are significantly high.
The report suggested major overhaul of NPA management processes at banks. Some banks have alarmingly high NPA levels in relatively safe products such as home loans.
The report stressed on a whole new paradigm for risk management encompassing operating model, technology, experience and expertise retention, and minimum critical size of book.
According to the study, India's gross domestic product (GDP) growth will make the Indian banking industry third largest in the world by 2025. The report chalked out an action agenda for banks, based on insights from an extensive productivity benchmarking exercise conducted across 40 banks.
The report highlighted that banks have to strive for excellence on five dimensions: branch sales and service, new channels, lean operations, organisation design and bad debt management.
The report stated that branches of banks can generate higher levels of revenue for the banks. Indian banks deploy 62 per cent of staff in customer facing roles as against the benchmark of 82 per cent observed by BCG globally.
Break-out growth in usage of new channels will characterise the next decade in Indian banking. Among the new channels, mobile phones, propelled by 3G and smart phone technology, will emerge as an undisputed winner by 2020 accounting for 20-30 per cent of total transactions. ATMs have seen exponential growth in usage but are far from maturity with just about 50 per cent adoption even in metros. New channels will not only enhance the productivity but can be a source of new customer acquisition.
Indian banks, the report mentioned were to be doing well overall with industry cost-income ratio below 50 per cent.
However, there remained plenty of scope for betterment. On an average, Indian banks have about 20 per cent of staff deployed in back-office processing (for some banks, as high as 40 per cent) as against a global best of 10 per cent observed by BCG. Process re-engineering and operating model change if employed could help reduce costs, improve service, and contain operating risks.
Public sector banks were found to be under-investing in technology with spends at about 25 per cent of global benchmarks. An Indian banks average administrative overhead at about 11 per cent of the total staff is in line with what BCG has observed globally.
The banking industry was holding low headcount in HR and finance roles. Variable pay at 2 per cent of fixed compensation is far below the 12-15 per cent that is optimal for incentive compensation. The public sector as per the report urgently needed an adjustment in its compensation structure. The industry has an impressive bad debt performance and the bad debt levels in priority sectors of MSME and agriculture are significantly high.
The report suggested major overhaul of NPA management processes at banks. Some banks have alarmingly high NPA levels in relatively safe products such as home loans.
The report stressed on a whole new paradigm for risk management encompassing operating model, technology, experience and expertise retention, and minimum critical size of book.
The International Olympic Committee (IOC) on 16 February 2012 announced that Dow Chemicals will remain a sponsor of the London Olympics.
The Indian Olympic Association had appealed to the IOC and London Games Organizing Committee to withdraw the Dow’s chemical sponsorship from the London Olympics.
The International Olympic Committee turned down the appeal of IOA maintaining that Dow Chemicals, the parent company of Union Carbide had no role in the Bhopal Gas Tragedy in 1984. It insisted Dow Chemicals did not have any ownership stake in Union Carbide until 16 years after the disaster and 12 years after the USD 470 million compensation agreement was approved by the Supreme Court of India.
IOA had repeatedly expressed its opposition to Dow Chemicals’ sponsorship to London Olympic Games, attributed to its ownership of the Union Carbide which caused the worst industrial disaster in India in 1984.
The Indian Olympic Association had appealed to the IOC and London Games Organizing Committee to withdraw the Dow’s chemical sponsorship from the London Olympics.
The International Olympic Committee turned down the appeal of IOA maintaining that Dow Chemicals, the parent company of Union Carbide had no role in the Bhopal Gas Tragedy in 1984. It insisted Dow Chemicals did not have any ownership stake in Union Carbide until 16 years after the disaster and 12 years after the USD 470 million compensation agreement was approved by the Supreme Court of India.
IOA had repeatedly expressed its opposition to Dow Chemicals’ sponsorship to London Olympic Games, attributed to its ownership of the Union Carbide which caused the worst industrial disaster in India in 1984.
Former Indian tennis player Manisha Malhotra on 16 February 2012 conferred upon a top International Olympic Committee Award for her contribution in promoting sport among women.The award was presented by IOC President Jacques Rogge at the fifth World Conference on Women and Sport.
Malhotra received the World Trophy for helping disadvantaged girls. She has travelled length and breadth of India to encourage women to participate in different sports.
Manisha Malhotra had competed for India in Tennis doubles at the 2000 Sydney Olympics. She was one of six winners at the Women and Sports Awards ceremony held in Los Angeles on 16 February 2012.
Malhotra received the World Trophy for helping disadvantaged girls. She has travelled length and breadth of India to encourage women to participate in different sports.
Manisha Malhotra had competed for India in Tennis doubles at the 2000 Sydney Olympics. She was one of six winners at the Women and Sports Awards ceremony held in Los Angeles on 16 February 2012.
Pulse Polio
Polio or poliomyelitis is an infectious disease caused by a virus that lives in the throat and intestinal tract. The term poliomyelitis comes from the Greek word poliós meaning "grey", myelós referencing the spinal cord, and -itis meaning inflammation. It is commonly spread through one person to another with the stool of an infected individual. It may also spread through oral and nasal secretions. Polio epidemics did not begin to spread until the end of the 19th century although evidence shows that polio existed in ancient times.
Prevention and Cure
Prevention and Cure
| Polio usually begins with common symptoms such as fever, headache, nausea, fatigue, and muscle pains and spasms and is followed by a more serious and permanent paralysis in one or more limbs. More than half of all polio cases occur in children under the age of five. Between 5 and 10 per cent of infected persons display only the most general symptoms while more than 90 per cent show no sign of illness at all. Polio vaccine is highly effective in producing immunity to the poliovirus and protection from paralytic polio. Approximately 90 per cent or more of polio vaccine recipients develop protective antibodies to all three poliovirus types after two doses, and at least 99 per cent are immune following three doses. Dr. Albert Sabin developed Oral Polio Vaccine (OPV) in 1961. Presently, almost all countries use OPV to achieve polio eradication target. The vaccine not only prevents pernicious infection in the person, but it also precludes transmission of the wild poliovirus to other person. Since polio virus cannot survive outside a host for more than two weeks, theoretically it would be wiped out, resulting in the eradication of poliomyelitis. For those who infected by the polio virus, there is no cure as such but there is treatment to alleviate the symptoms. Besides this, the affected persons can also be rehabilitated with the help of modern mobility aids. Heat and physical therapy can help to stimulate the muscles of infected persons and antispasmodic drugs are prescribed to relax the muscles. While this can improve mobility, it cannot reverse permanent polio paralysis. | ||
India, along with all 192-member nations of the World Health Organization, committed to the goal of global polio eradication in 1988. Since 1995, the Ministry of Health and Family Welfare has been conducting intensive immunization and surveillance activities to eliminate the polio virus. The National Rural Health Mission has been a boon to the efforts in rural areas. The National Polio Surveillance Project was launched in 1997 to provide technical and logistic assistance to the government, and now works closely with state governments and a broad array of partner agencies to achieve the goal of polio eradication in the country. The partnership is led by the government with support from the WHO, Rotary International, US Centres for Disease Control and Prevention and UNICEF . The Bill and Melinda Gates Foundation is also one of the significant funding partners.
Polio: Fact Box
- Cases in 2011 : 1 (Last case in 13th January 2011)
- Cases in 2010 : 42
- Cases in 2009 : 741
- Cases in 1991 : 6,028
- Cases in 1985 : 150,000
| Pulse Polio Immunization Campaign | ||
India launched the Pulse Polio Immunization (PPI) programme in 1995 as a result of the WHO Global Polio Eradication Initiative. Under this programme, all children under five years are given two doses of Oral Polio Vaccine (OPV) in December and January every year until polio is eradicated. The campaign proved to be successful, and the incidence of poliomyelitis in India has decreased dramatically.
The PPI was initiated with an objective of achieving hundred per cent coverage under OPV. It aims to reach the unreached children through improved social mobilization, plan mop-up operations in areas where poliovirus has almost disappeared and maintain high level of morale among the public.
As recently as 2009, India had the highest burden of polio cases in the world (741), more than the three other endemic countries combined. Due to the extraordinary measures to reach children with vaccine, India has not seen a case since a 2-year-old girl in the state of West Bengal developed paralysis on 13 January 2011. Today, India has achieved a milestone in its fight against polio as it is no more an epicentre of polio. India has not registered a case of wild poliovirus nor detected the virus in sewage sampling since 13 January 2011.
This exceptional achievement is the result of energy, dedication and hard efforts by the Government along with millions of vaccinators, volunteers, community mobilisers, actors, social workers and religious leaders. The polio eradication effort is the most widely recognized brand in the country, with a Bollywood mega star as its public face.
- One of the three types of wild poliovirus - wild poliovirus type 2 (WPV2) has been eradicated globally. The last case of WPV2 was in Aligarh, India, in October, 1999.
- When the Pulse Polio Immunisation Programme was launched in India in 1995 an estimated 150,000 polio cases were reported across the country each year.
- The two polio-endemic states of Uttar Pradesh and Bihar have not reported any case of polio since April 2010 and September 2010, respectively.
- The transmission of the most dangerous WPV1, which caused 95 per cent of polio in India until 2006, dropped to record low levels in 2010. Uttar Pradesh, the epicenter of most polio outbreaks in the country, has not reported any WPV1 cases since November 2009.
Rehabilitation
The Disability Division of the Ministry of Social Justice & Empowerment facilitates empowerment of the persons with disabilities. India is also a signatory to the Declaration on the Full Participation and Equality of People with Disabilities in the Asia Pacific Region. It is actively participating in the Biwako Millennium Framework for action towards an inclusive, barrier free and rights based society. India has signed the UN Convention on Protection and Promotion of the Rights and Dignity of Persons with Disabilities.
The passing of Persons with Disabilities Act, 1995 is a landmark in the history of social welfare planning to ensure equal opportunities and protection of rights and full participation of persons with disabilities in nation building.
The passing of Persons with Disabilities Act, 1995 is a landmark in the history of social welfare planning to ensure equal opportunities and protection of rights and full participation of persons with disabilities in nation building.
Durban Conference on Environment Related Problems
whether it is a fact that a world level Conference was held recently in Durban from 28 November to 9 December,2011 to discuss the environment related problems;
(b) if so, whether India also played a significant role in this Conference;
(c) if so, the reaction of Government in this regard; and
(d) the decisions taken in the Conference mainly through consensus?
The seventeenth session of the Conference of Parties under the United Nations Framework Convention on Climate Change (UNFCCC) was held in Durban from November 28 to December 9, 2011 to discuss and decide upon various issues relating to climate change under the UNFCCC and its Kyoto Protocol.
India played a significant role in the success of the Durban Conference. In Durban, India played a key role in establishing the second commitment period under the Kyoto protocol with effect from January 1, 2013, immediately after the expiry of the first commitment period.
In Durban, it was also decided to begin a process for developing legal arrangements for enhancing actions of all parties under the Convention. India ensured that the new arrangements, which have to be decided by 2015 and implemented from 2020 are established under the Convention. India highlighted the issues of equity and Common But Differentiated Responsibilities (CBDR) in the climate change negotiations. With support of India, the Green Climate Fund was also established in Durban.
The decisions by the Conference of Parties to UNFCCC and its Kyoto Protocol are taken on the basis of consensus.
(b) if so, whether India also played a significant role in this Conference;
(c) if so, the reaction of Government in this regard; and
(d) the decisions taken in the Conference mainly through consensus?
The seventeenth session of the Conference of Parties under the United Nations Framework Convention on Climate Change (UNFCCC) was held in Durban from November 28 to December 9, 2011 to discuss and decide upon various issues relating to climate change under the UNFCCC and its Kyoto Protocol.
India played a significant role in the success of the Durban Conference. In Durban, India played a key role in establishing the second commitment period under the Kyoto protocol with effect from January 1, 2013, immediately after the expiry of the first commitment period.
In Durban, it was also decided to begin a process for developing legal arrangements for enhancing actions of all parties under the Convention. India ensured that the new arrangements, which have to be decided by 2015 and implemented from 2020 are established under the Convention. India highlighted the issues of equity and Common But Differentiated Responsibilities (CBDR) in the climate change negotiations. With support of India, the Green Climate Fund was also established in Durban.
The decisions by the Conference of Parties to UNFCCC and its Kyoto Protocol are taken on the basis of consensus.
Nearly 28 years after it set up the first permanent research station in the South Polar region, India is all set to commission and occupy a third such station in Antarctica by March 2012.
After the station, named “Bharti”, becomes operational, India will join the league of select nations that have multiple operation stations in the region.
The new station is located almost 3,000 km away from the existing “Maitri” station, which is serving the nation since its inception in 1988-89.
“Bharati” station is a self-contained double-storey structure on stilts and is designed to have a life span of 25 years. It will accommodate 25 people during summer and 15 people during winter.
The location of the new station is of interest on account of scientific and logistic reasons, ice-free terrain and easy access from the sea. This area, including the islands and promontories, offer an excellent scope for extensive studies on geological structures and tectonics, with special reference to Gondwanaland, palaeoclimatology, solid earth geophysics, space-weather and meteorology, oceanography, marine biology, microbiology, environmental science.
In 1983, India had established its first station in Antarctica, “Dakshin Gangotri”. It has since been decommissioned after it got buried under ice and has been marked as a historic site.
Deepak Kapoor, a professor of strategic management, University Business School, Panjab University, Chandigarh, has been conferred the award. The award has been given in recognition of innovation and industry interface the business school was exposed to.
Social activist Ela Bhatt has been selected for the award, for her lifetime achievements in empowering women through grass-roots entrepreneurship. She is the founder of NGO Self-Employed Women’s Association (SEWA).
A decade after the Taliban government was ousted from power, regional leaders, on November 2, 2011, pledged to find ways to improve security and economic development in Afghanistan as international combat forces prepare to leave by the end of 2014.
The one-day conference in Istanbul followed the September assassination of an Afghan peace envoy and other high-profile assaults in Afghanistan that have diminished prospects for a negotiated settlement and intensified suspicion of Pakistani support for the insurgency, an allegation that the Pakistan’s government denies.
In an opulent hall on the shores of the Bosporus Strait, delegates delivered speeches promising support for Afghan sovereignty, and endorsed a transition to Afghan security leadership, efforts for a political solution to the war and economic development.
As a show of solidarity, the meeting was a success, but it was also a reminder of how much remains unsolved.
In all 14 countries agreed at the conference to cooperate in building the future of war-torn Afghanistan. Among the countries involved are Turkey, Iran, Pakistan, China, Russia and India, and several Arab States.
Demanding an end to external interference in Afghan internal affairs, India stressed on the need to eliminate safe havens and sanctuaries, a stand that was reflected in the outcome document.
On its part, Afghanistan termed the cooperation with New Delhi as a “turning point” and pitched for a bigger role for India in the region for desirable reasons.
The 17th summit of the South Asian Association for Regional Cooperation (SAARC) was held at the Addu atoll in Maldives.
In its 26th year, SAARC has finally taken the shape of a cohesive grouping of nations willing to cooperate in key areas to boost their economic clout. The Addu Declaration that the leaders agreed upon focused on the theme of “Building Bridges.” The leaders committed to work towards a huge boost in intra-SAARC trade, improving air, rail, motor and water transport connectivity between member countries and putting their heads together to solve common developmental concerns. Four agreements were also signed that included a rapid response mechanism to deal with natural disasters, an agreement to establish a SAARC Seed Bank and two agreements on harmonising regional standards for goods and products.
Yet, SAARC still has a long way to go. Many of the leaders complained that while there were plenty of big ideas to move ahead, implementation of these had been slow. As Pakistan’s Gilani said, “The gap between the promises made at SAARC and the reality needs to be bridged.”
Sri Lanka’s Rajapaksa echoed similar sentiments when he said at the plenary, “What is evident around us is a mood of urgency and even impatience. This is especially so because a large and influential part of our societies consists of young people inspired by new ideas and looking forward with enthusiasm to a promising future for themselves. They cannot be kept waiting for long. Their patience is not infinite.”
Sensing the mood, Prime Minister Manmohan Singh announced that in a major effort to liberalise trade in the region, India had issued a notification to reduce the sensitive list under the South Asian Free Trade Area Agreement (SAFTA) from 480 tariff lines to just 25 for the five Least Developed Countries (LDC) of the region—Nepal, Bhutan, Afghanistan, Bangladesh and Maldives. He said that zero basic customs duty access will be given to all items removed with immediate effect.
The main reason why SAARC has met with only moderate success is that it has tried to do many things that has resulted in somewhat diffusing its focus. Experts feel that it should focus on key areas such as trade liberalisation and making SAFTA a reality, improving connectivity through transport by having air, rail and motor vehicles agreements and taking steps to enhance agricultural productivity and ensuring food security. The Addu declaration rightly emphasises these priorities and needs to be urgently implemented.
Intensify efforts to fully and effectively implement the South Asian Free Trade Areas (SAFTA) agreement and work on reduction in Sensitive Lists as well as early resolution of non-tariff barriers and expediting the process of harmonizing standards and customs procedures.
Direct SAARC Finance Ministers to chart a proposal that would allow for greater flow of financial capital and intra-regional long-term investment.
Conclude the Regional Railways Agreement and convene the Expert Group Meeting on the Motor Vehicles Agreement before the next Session.
Ensure completion of the preparatory work on the Indian Ocean Cargo and Passenger Ferry Service, including the Feasibility Study, by the end of 2011.
Direct the conclusion of the Inter-governmental Framework Agreement for Energy Cooperation and the Study on the Regional Power Exchange Concept as also the work related to SAARC Market for Electricity.
Vivek Express is the new weekly train that covers India’s longest rail route from Dibrugarh in Assam to Kanyakumari in Tamil Nadu, covering the distance of 4,286 km in approximately 83 hours. The train was flagged-off on November 19, 2011.
Close on the heels of the world population crossing the 7 billion-mark, the new Human Development Report of UNDP has revealed a major reason behind India’s growing numbers. While we are worrying about high total fertility rates (TFRs) of 2.6, new data points out that our adolescent fertility rates (AFR) are even more shocking at 86.3.
Adolescent fertility rate—defined as the number of births per 1,000 women aged 15 to 19—is among the highest for India in South Asia. Only Nepal and Afghanistan have higher rates at 103.4 and 118.7.
One of the main drivers of high gender inequality in India, which has the poorest (129th) Gender Inequality Index rank in South Asia (leaving aside Afghanistan which is poorer at 141), high adolescent fertility rate reflects that our child marriage prevention laws have simply not worked and our contraception prevalence rate remains poor at 54%. Even Sri Lanka has a higher contraception prevalence rate at 68%.
On gender equality, India lags far behind China which is ranked a handsome 35 in the world (lower the rank on GII, better the state of gender equality). In China adolescent fertility rate is just 8.4, while TFR is also low at 1.6.
Even on the other two major components that drive gender equality—women’s representation in national Parliament and the participation of age 25 years plus women in economic activities—India is far behind many even in South Asia. Nepal is the best in this category with 33.2% women in Parliament, while China and Pakistan have 21.3% and 21%, respectively—much better than India’s 10.7%.
As far as people who have attained secondary education are concerned, in India the percentage is 26.6 for women as against 50.4 for men—indicating a wide gap, which is also seen in labour force participation, where women make up 32.8% workforce as against 81.1% men.
Adolescent fertility rate—defined as the number of births per 1,000 women aged 15 to 19—is among the highest for India in South Asia. Only Nepal and Afghanistan have higher rates at 103.4 and 118.7.
One of the main drivers of high gender inequality in India, which has the poorest (129th) Gender Inequality Index rank in South Asia (leaving aside Afghanistan which is poorer at 141), high adolescent fertility rate reflects that our child marriage prevention laws have simply not worked and our contraception prevalence rate remains poor at 54%. Even Sri Lanka has a higher contraception prevalence rate at 68%.
On gender equality, India lags far behind China which is ranked a handsome 35 in the world (lower the rank on GII, better the state of gender equality). In China adolescent fertility rate is just 8.4, while TFR is also low at 1.6.
Even on the other two major components that drive gender equality—women’s representation in national Parliament and the participation of age 25 years plus women in economic activities—India is far behind many even in South Asia. Nepal is the best in this category with 33.2% women in Parliament, while China and Pakistan have 21.3% and 21%, respectively—much better than India’s 10.7%.
As far as people who have attained secondary education are concerned, in India the percentage is 26.6 for women as against 50.4 for men—indicating a wide gap, which is also seen in labour force participation, where women make up 32.8% workforce as against 81.1% men.
On November 24, 2011, the Union Cabinet approved the Companies Bill, 2011, which aims to update corporate laws in the country and introduce modern concepts like mandatory CSR and class action suits.
Intended to replace the existing half-a-century-old Companies Act, the Bill has undergone several modifications in view of the Rs 14,000-crore Satyam accounting fraud.
Besides strengthening the provisions to check fraud, the Bill has introduced ideas like mandatory corporate social responsibility (CSR), class action suits and a fixed term for independent directors.
Among other things, it also proposes to tighten laws for raising money from the public. The Bill also seeks to prohibit any insider trading by company directors or key managerial personnel by treating such activities as a criminal offence.
Further, it has proposed that companies should earmark two per cent of their average profits of the preceding three years for CSR activities and make a disclosure to shareholders about the policy adopted in the process.
