Banks to go on strike on Oct 5-6
New Delhi: Bank employees across the country would strike work on October 5-6 if the talks between United Forum of Bank Unions (UFBU) and the Indian Bank Association on September 22 fail to resolve the wage revision issue.

"Around 10 lakh bank officers and employees are expected to join the strike if the talks fail for a "favourable and increased package", said Ashwani Rana, UFBU Secretary.

The bank unions' are demanding 20 per cent increase in wages against the 9.5 per cent being offered by IBA, besides pension and appointment on compassionate grounds.
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Health insurance to touch Rs.75, 000 crore
New Delhi: With lifestyle-related diseases increasing significantly, healthcare insurance sector in the country is poised to become an Rs.25, 000-crore industry by 2009 and treble itself in the next ten years, provided a right mix of targeted products are offered by the insurance companies.

The robust growth in health insurance is expected as lifestyle diseases like cancer and strokes are set to account for nearly 30 per cent of in-patient ailments and HIV infections likely to rise significantly by 2010.

These are the findings of a study done by PHDCCI to access the potential of health insurance sector in India.

Already, the healthcare sector, including service providers, payers, pharmaceutical and medical devices manufacturers, is estimated to be the Rs.75,000-crore industry by 2020.

The study said it is estimated that share of the elderly in the total population would increase to 8.9 per cent and total number of senior citizens would increase by 107 per cent to 113 million by 2016, providing immense scope for the sector's unprecedented growth.

Most importantly, health spending in India at 6 per cent of GDP is among the highest estimated for developing countries. In per capita terms, it is higher than that in China, Indonesia and most African countries.

The insurable population in India has been assessed at 250 million and if around 6 per cent against the current 2 per cent of the country's population goes in for health insurance in the next five years, estimating an average of Rs1,000 per person as the premium amount annually, it would mean a health insurance industry worth Rs25,000 crore.
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