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Prime Minister Narendra Modi to launch 3 social security schemes linked to insurance and pension sector

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By NewsGram Staff Writer

The Prime Minister Narendra Modi will launch three ambitious social security schemes pertaining to the insurance and pension sector on 9th May 2015 at Kolkata.

The two insurance schemes to be launched, namely Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) would provide insurance cover, whereas the pension scheme, Atal Pension Yojana (APY), would address old age income security needs.

PMSBY will offer a renewable one year accidental death cum disability cover of Rs 2  lakh (Rs 1 lakh for partial permanent disability) to all savings bank account holders in the age group of 18 to 70 years for a premium of Rs. 12/- per annum per subscriber. The scheme would be administered through Public Sector General Insurance Companies (PSGICs) or other General Insurance companies.

PMJJBY on the other hand will offer a renewable one year life cover of Rupees 2 lakh to all savings bank account holders in the age group of 18 to 50 years, covering death due to any reason, for a premium of Rs.330/- per annum per subscriber. The scheme would be offered  through LIC or other Life Insurance companies willing to offer the product on similar terms.

APY, the third scheme to be launched, will focus on the unorganised sector and provide subscribers a fixed minimum pension of Rs. 1000, 2000, 3000, 4000 or Rs. 5000 per month starting at the age of 60 years, depending on the contribution option exercised on entering at an age between 18 and 40 years. Thus, the period of contribution by any subscriber under APY would be 20 years or more. The fixed minimum pension would be guaranteed by the government.

While the scheme is open to back account bank account holders in the prescribed age group, the Central Government would also co-contribute 50% of the total contribution or Rs. 1000 per annum, whichever is lower, for a period of 5 years for those joining the scheme before 31st December, 2015 and are not members of any statutory social security scheme and are not income tax payers.

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Reimagining Business Models for a Post-Pandemic World

The idea is suggested by a book named "It's Logical: Innovating Profitable Business Models"

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The disruption caused by the COVID-19 pandemic will cause a drastic reimagining of business models in going forward. Pixabay

The disruption caused by the COVID-19 pandemic will entail a drastic reimagining of business models in going forward says a new book on the subject that proposes frameworks with Design Thinking as the backbone for creating win-win situations.

“Today, more than ever, there is a strong need for re-imagining the way business needs to be conducted through deep empathy and exploring win-win situations for all stakeholders involved,” writes Kaustubh Dhargalkar, an entrepreneur-turned-academician, innovation evangelist and start-up mentor, in “It’s Logical: Innovating Profitable Business Models” published by Sage and which is available as an ebook on Amazon.

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The book is available as an ebook on Amazon. Wikimedia Commons

To this end, the book proposes “frameworks (with Design Thinking as the backbone) for creating win-win situations to visualize sustainable business models in times to come, which should prove useful in the prevailing, unprecedented circumstances”.

Laced with multiple real life studies, the book advocates that innovation is not about flash in the pan ideas; it is driven by pure logic. It further explains how to map the ecosystem to understand synergies for creating innovative offerings.

In his foreword, Sudhakar Nadkarni (Founder, Industrial Design Centre at IIT-Bombay; Founder, Department of Design at IIT-Guwahati) writes: “It takes great effort and a long time to develop an innovative culture. Innovation, as is often said, does not fall from the heavens. It takes vision and a strong commitment to the objective.”

Also Read: Alarming Rate of Deforestation Threatens Biodiversity

Noting that he has “some reservations” about the “fashion” that innovation centres have become, Nadkarni says: One cannot innovate in the absence of an ecosystem that drives innovation. This book, supported by deep research and many case studies, shows that it is possible to come up with an innovative business model that does not stick to conventional paradigms.”

Drawing an analogy with cricket, Nadkarni says that creating a good business model involves “searching for gaps, angling the bat and caressing the ball in the desired direction. It requires a creative yet trained mind. This book tells you exactly how to spot those gaps in the field and train your creative muscle.” (IANS)

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The Wrath Of Amphan Cyclone In India

Cyclone Amphan exposes Eastern India; Odisha and West Bengal to serious damage and devastation

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A satellite view of Cyclone Amphan on May 19, 2020. PC: Weathernerds.org

BY Varuni Trivedi
Odisha and West Bengal were left in shambles as Cyclone Amphan left only doom and devastation behind. Torrential rains and winds gusting up to 185 kph on Wednesday, affected 4.5 million people across 1,500 villages in Odisha, and claimed the lives of 72 people in West Bengal leaving many homeless and devastated.

Both the states suffered widespread destruction of homes, crops, and infrastructure. Many people were crushed by falling trees and electrocuted by power lines. Horrific images of destruction came from both states showing uprooted trees and electricity poles catching fire. Amidst a global pandemic that had already taken a toll on people the ‘normal life’ in these states is paralyzed for millions. Both Orissa and West Bengal currently lay in the aftermath of a destructive cyclone for which they weren’t prepared.

The worst-hit in this scenario are the small scale industries and infrastructure which wiped out leaving lakhs of people homeless. It devastated coastal villages knocking down mud houses and temporary shelters and flooding many areas. In the WB capital Kolkata, the streets are still flooded while phone and internet services have still not been restored completely. Officials say that the extent of destruction caused is yet to be determined. The loss of dwellings and crops, which has struck people amid two months of a nationwide lockdown that has left millions of Indians without an income and in a terrible shock.

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People struggling to get past an uprooted tree struck by Aphan cyclone. PC: IndianExpress

West Bengal CM Mamata Banerjee said she was “shocked” to see such a massive disaster. She further stated that she had never seen anything like this before and the cyclone is worse than the coronavirus. She stressed the cyclone’s “unexpected scale” and has urged great support from the center. Today PM Modi along with CM Banerjee took an aerial survey of the cyclone areas.

The Prime Minister has assured all sorts of assistance to West Bengal and will be ensuring that the relief money is credited directly to the account of the beneficiaries. PM Modi conducted an aerial survey of areas affected by Cyclone Amphan in Odisha as well, accompanied by CM Naveen Patnaik and Guv Ganeshi Lal. Financial assistance of Rs 500 Cr has been announced for the state. Ex-gratia of Rs 2 lakh to next of kin of deceased whereas Rs 50,000 to seriously injured has also been announced.

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PM Modi along with West Bengal CM Mamata Banerjee in an aerial survey of Cyclone hit areas. PC: PTI

The eastern coastal States during the storm season every year face the wrath of nature as the unpreparedness of the states exposes the citizens to these calamities. The cyclone’s disastrous effects were anticipated, but even with reliable forecasts and preparatory moves by the National and State Disaster Response Force units, the impact was devastating and catastrophic. The loss of life and damage to livelihoods is still significantly irreparable in many parts.

Also Read: ICC Publishes Guidelines for Safe Resumption of Cricket

This has become an even more challenging situation as the nation is amid a lockdown and faces serious issues battling the COVID-19 Pandemic. Whereas it can be said that the battle against the virus may yet be won sooner or later, India must strengthen its disaster management especially in areas like Orissa and West Bengal which experience the wrath of such natural calamities almost every year. For a never-ending cycle of storms along its coastline, India needs better preparedness so that livelihood of people may be protected if not saved completely.

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How to Build the Ultimate Ecommerce App with Builder.ai’s Studio Store

Businesses all over the globe have gone digital during the Coronavirus pandemic

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The world of e-commerce is growing fast and businesses need to catch up. Pixabay

Not too long ago, NASDAQ predicted that by the year 2040, as much as 95% of shopping will be facilitated by ecommerce. Similarly, Shopify Plus estimates that by the year 2021, worldwide retail ecommerce sales will reach $4.9 trillion – a number that will now be amplified as a result of the recent events. The world of e-commerce is growing fast and businesses need to catch up.

For good or for bad, the COVID-19 pandemic and the subsequent lockdowns have left businesses little choice but to go digital. Gone are the days when goliaths like Walmart would build ecommerce apps just to indulge a handful of customers. Today, it is either go digital or go home.  So, for all businesses looking for an ecommerce mobile app builder, Studio Store could be an interesting option.

Launched recently by Builder.ai with the goal of helping businesses directly impacted by COVID-19, Studio Store is a new range of pre-packaged apps – beginning with e-commerce and delivery – designed to bring businesses online faster and at a fraction of the cost of building from scratch. With Studio Store, Builder.ai is furthering its mission to democratize the software market by offering pre-built software for a fraction of the price, giving more companies than ever the opportunity to use technology to grow their business.

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Here’s how you can get an ecommerce website to flourish your website. Pixabay

So, if you’ve been wondering how to build an ecommerce app, then here are the key problems Studio Store solves with features that are most noteworthy:

  • Most apps take 6-9 months to develop, depending on the complexity. 

Unlike most ecommerce app builders, Studio Store ecommerce app by Builder.ai will serve the specific needs of businesses across e-commerce – such as flower shops, grocery stores and clothiers – and be delivered to customers in eight weeks.

  • Most app development journeys are complicated and take months of back and forth to just nail down basic feature sets. 

The Studio Store’s e-commerce app makes selling to an ever-mobile customer effortless, and retailers can showcase their goods with a scrollable carousel and offer a wide range of secure payment methods. The app includes features that will handle the soup to nuts of most e-commerce experiences.

  • For most ecommerce app builders, their job ends as soon as an app is handed over to the customer, with little to no customer service after. 

Studio Store by Builder.ai offers 3 months of free aftercare that keeps the app thriving and the cloud needed to run the app and scale the business.

  • App developers charge hefty down payments even before a project begins.

Studio Store is priced at a reasonable $500 per month and Builder.ai does not take any cut of sales or transaction fees (so you’ll only pay those charged directly by a payment gateway). Builder.ai only requires a one-month deposit at the beginning of the engagement.

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Studio Store is priced at a reasonable $500 per month and Builder.ai does not take any cut of sales or transaction fees. Pixabay

Also Read: US White House Releases Report Announcing Onset of Cold War With China

  • With SaaS app builders, each customer gets complete ownership of their code.

The biggest drawback of SaaS applications is that the source code remains the same for all customers. In cases where new features are rolled out, they’re rolled out universally. But with Studio Store, the customer gets a copy of the code after 24 months.

All in all, if you are looking to build an ecommerce app online, then Builder.ai could be the best choice. You can check out the Studio Store for yourself by clicking here.

[Disclaimer: The article published above promotes links of commercial interests.]