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Finance

Think Holistic Financial Wellness, Think Health Insurance

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Financial Planning involves listing out your needs and wants, and deploying the money in the right avenues so that you have it when you need it. It can help you cut losses, enhance your gains, and avoid the panic of a financial or life stage crisis. It would help if you didn’t confuse your insurance and investment options. With the rise in the cost of healthcare in India, securing your family with the right medical insurance plan should be a priority. The amount of cover you take should depend on your life stage, income, dependents, and requirements.

It is advisable to plan financially for healthcare and get a medical insurance plan as early as possible as health issues come uninvited. Early planning also helps your savings get time to multiply and grow.

A medical insurance plan provides the policyholder with financial assistance in case of any medical emergency. It offers coverage for expenses such as hospitalization and treatment towards accident and pre-specified illnesses for a specific sum assured limit. The medical premium is based on the sum assured. It reimburses your actual medical expenses, either through direct reimbursement or cashless hospitalization opportunities.

Why Is There A Need For Health Insurance?

There are various types of medical insurance plans available in the market. These are classified based on the cover they provide. The policies target each section of the society, such as individuals, families, or exclusively for senior citizens to take care of their needs accordingly.

Below are the reasons why you must include medical insurance while planning your finances:

Quality Healthcare

A medical insurance plan is a contract between an insurer and a policyholder to provide coverage for unexpected health care costs which are usually very high. To receive the benefits, the policyholders have to pay a premium. The premium paid is much less than the amount required is paid entirely out-of-pocket.

It is essential to buy a health insurance policy for yourself and your family as quality medical care is expensive. Private hospitals provide services at a premium. Without a good health insurance policy, any medical emergency can shake up your finances.

Financial Security

One cannot underestimate the importance of having a medical insurance plan. The medical costs are skyrocketing.  A small procedure or hospitalization can completely wipe out a lifetime of savings. With inflation, the prices of all medical procedures have gone up significantly. Admission for a few days after a process only adds more zeros to your invoice. With a health insurance policy, you can afford the sky-high expenses of healthcare.

Critical Illness Cover

A policy for a severe, possibly terminal disease, which is strictly defined by the insurer. Most critical illness policies provide for the payment of a lump sum benefit if the policyholder is suffering from any of the specified conditions.

When you apply for a medical insurance plan, it is essential to disclose all your medical history to get the most suitable policy.

Tax Benefits

You can avail tax benefits under section 80 D of the Income Tax Act, for up to Rs 25,000 per annum when you buy a medical insurance plan in India for your family.

You must be responsible for you and your family’s health and start saving and investing early in suitable health insurance.

Comprehensive Medical insurance plans from reputable insurers such as TATA AIG provide an opportunity to avail online health coverage which helps you prepare for unfortunate events. It consists of the following features:

  • Pre and Post Hospitalization expenses
  • Cashless Hospital Benefit
  • Day Care Treatment
  • In-Patient Treatment
  • Global Cover
  • Accidental Death Benefit
  • Critical Illness cover
  • Domiciliary Treatment
  • Tax benefit under Section 80C
  • Lifelong Renewal

Wayde N. Thabalanz is a 2016-17 New York Foundation for the Arts Fellow in Fiction and a 2015 NYFA Fellow in Poetry. His work has appeared in Best New Poets 2015, The Los Angeles Review.

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Children

How to Pick the Best School in West Bengal For Your Kid in 2023?

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The educational landscape, as a whole, keeps changing with time. The same goes well with the state of West Bengal. A vast array of school options are available in the state, and it can be overwhelming to select one out of the lot. Finding the best fit that aligns with your child’s unique needs, interests, and learning capabilities is paramount to boosting their academic and personal growth.

In this guide, you can find the essential factors to weigh the primary aspects in 2023 that the educational sector beholds. Learn how to select the best schools in Kolkata and the rest of West Bengal. Secure your child’s educational future by discovering the perfect match with a few easy steps.

Factors to Look Out for When Selecting a School for Your Child

While choosing a school, one should keep a few primary factors in check. Here are the factors that can make a huge difference while selecting the best schools in Darjeeling and other parts of the state.

Location

The significance of location cannot be overstated when selecting the ideal school for your child. One of the most practical reasons to consider location is the daily commute. Opting for a school conveniently located near your home can significantly reduce travel time. It eases the morning rush and ensures your child arrives at school fresh and ready to learn. A shorter commute can also offer parents more time with their children, promoting a balanced family life.

Moreover, proximity to the school allows your child to participate in extracurricular activities and events frequently. Whether attending after-school clubs, sports practices, or parent-teacher conferences, being closer to the school ensures more accessible involvement in your child’s academic journey. Further, it enhances communication and collaboration with teachers and other parents.

Curriculum

The second crucial aspect to consider is the school’s offered curriculum. In West Bengal, you will find a diverse range of curriculums, including the Indian Certificate of Secondary Education (ICSE), Central Board of Secondary Education (CBSE), and West Bengal Board of Secondary Education (WBBSE). Each of these curricula possesses its unique advantages and limitations. So it is essential to conduct thorough research to pinpoint the most suitable school for your kid.

ICSE: This curriculum is regarded as an elite education board that strongly focuses on language acquisition, science, mathematics, and social studies.

CBSE: It is the most widely adopted board of education in the country. It is renowned for its keen attention towards mathematics and science, making it a most sorted choice nationwide.

WBBSE: This is a state-run board of West Bengal that primarily aims to shape every child’s future in the state.

Teaching and Non-Teaching Staff

Another essential factor while selecting a school is considering the quality of both faculty and non-teaching staff. The teaching staff’s qualifications, experience, and expertise are of utmost importance. Highly qualified and experienced teachers are better equipped to deliver effective and engaging lessons, catering to the diverse learning needs of students. Equally vital is the student-to-teacher ratio, as smaller class sizes often translate to more personalised attention and support for each student.

Apart from teaching staff, non-teaching staff contribute significantly to a school’s success. Administrative staff, librarians, counsellors, and other support personnel are essential in ensuring smooth school operations. They significantly provide comprehensive support to students and teachers to keep the educational institution running in the heartiest way.

Infrastructure and Facilities

When evaluating the best schools in Asansol or anywhere on the lands of the Ganges, one crucial factor that should not be overlooked is the infrastructure and facilities offered by the institution. A well-designed and equipped school environment enhances the overall learning experience. It is a primary necessity to provide a scope for the holistic development of students.

When considering the physical infrastructure, scrutinise whether the classrooms are spacious, well-maintained, and safe. The physical space is a critical factor in creating a conducive learning atmosphere. The availability of specialised facilities is also essential. Look for schools that offer dedicated laboratories for science subjects, computer labs with up-to-date technology, and well-stocked libraries that encourage a culture of reading and research.

Sports and co-curricular facilities are vital for promoting physical fitness and extracurricular development. A school with playgrounds, sports fields, and facilities for other extracurricular activities can encourage students to participate in physical activities. It promotes a healthy lifestyle and provides a sound recreational space for the students.

Academic Performance

Assessing a school’s academic performance is crucial in making an informed decision about your child’s education. A school’s track record in academic achievements reflects its instructional quality and the success of its students. One key metric is to assess their board exam performance, be it CBSE or ICSE, and look for the overall academic score of the students. Compare the subject scores with national and state averages. Consistently high scores indicate a school’s dedication to imparting quality education and preparing students effectively. Choosing a school with a constantly excellent academic record helps in making wise decisions.

Fee Structure

It is not always true that the best schools in Kolkata and anywhere else have a hefty fee to be paid. One should stick to their budget while opting for a school as it is a long-term commitment and going beyond your limits can cost your child’s future. Understanding the fee structure of a school is a crucial step in the decision-making process. It allows parents to assess the affordability of the institution and plan their finances accordingly. While comparing fees, one should consider the value offered in terms of educational quality, facilities, and extracurricular opportunities.

Transparent and well-structured fee policies help build trust between the school and parents, ensuring a smooth and hassle-free educational journey for the child.

Takeaway

Whether in West Bengal or anywhere else worldwide, a few factors hold the most importance while selecting an ideal school as a parent. By prioritizing your child’s unique needs and learning styles, you can navigate various curricula, teaching staff, infrastructure, academic performance, and fee structures. Thorough research and open communication with schools will empower you to make an informed decision promoting your child’s academic growth, personal development, and overall well-being. Remember, the ideal school ignites their passion for learning, provides a nurturing environment, and equips them with the skills and knowledge they need to win over the competitive academic world. So, choose wisely.

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Business

Basilic Fly Studio IPO sees historic subscription of 287 times; here’s how to check allotment status and GMP

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Investors responded enthusiastically to Basilic Fly Studio’s initial public offering (IPO), making it one of the most heavily subscribed issues so far this year. The issue was fully subscribed within a few hours of it going on sale, but during the three days of bidding, it was massively booked 286.60 times.

50.96 lakh shares were offered, and 145.96 crore shares were bid for.

The most subscriptions (549.44) were made for the non-institutional investors (NII) category, followed by 415.22 for the retail investors’ component. In the meantime, 116.34 times the quota for qualified institutional buyers (QIBs) saw bids.

In contrast to the 8.72 lakh shares that were offered, the NII portion received bids for 47.93 crore shares, while the retail investor quota received bids for 84.50 crore shares. 11.62 lakh shares were offered in the QIB category, however offers for 13.52 crore shares were received.

On Day 1 there were 33.17 subscriptions, while on Day 2 there were 139.54 subscriptions.

Regarding the IPO
The subscription period for the 66.35 crore SME IPO ran from September 1 to September 5, 2023, with a price band of 92 to 97 and a minimum order of 1,200 shares. The new issue of shares totaling $60.53 crore and the promoters’ offer to sell 6 lakh shares totaling $5.82 crore made up the public offering. Prior to the IPO, the company raised 16.91 crore through QIB’s anchor book.

QIBs were allowed to purchase 50% of the issuance, HNIs may purchase 15%, and regular investors could purchase the remaining 35%.

One of the best visual effects (VFX) studios in India, Basilic Fly Studio Limited has offices in Chennai and Pune as well as subsidiaries in Canada and the United Kingdom. Over 10,000 projects have been accomplished by the business to date; BFS has worked with over 300 clients on 900 films, 2,000 television series, and 8,000 advertisements.

The visual effects (VFX) studio operator will use the proceeds from the recent issue to build new facilities in Salem and Hyderabad and upgrade the infrastructure at Chennai and Pune locations. Additionally, fresh issue money will be used to finance the extension of workspace in London, the bolstering of facilities in Vancouver, as well as general company reasons.

Allotment
The issue’s share distribution will also be completed today, September 8. The Basilic Fly Studio IPO allotment status can be viewed on the registrar’s website, Purva Sharegistry India Pvt Ltd, by investors who submitted applications for the offering.

Through the basis of allotment, investors can determine if and how many shares they have been allocated. For those who were not awarded shares, the refunding process will begin on Monday, September 11. On Tuesday, September 12, those who were allocated will receive their shares in their demat accounts.

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Finance

Turkey’s economic programme has Erdogan’s full support, Simsek says

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Reuters, ANKARA, September 7 – A day after the government raised its inflation estimates and lowered its economic growth expectation, Finance Minister Mehmet Simsek stated on Thursday that President Tayyip Erdogan fully supported Turkey’s economic policy.

Erdogan has publicly criticized high rates for years, holding the unconventional belief that they exacerbate price pressures. However, he claimed on Wednesday that inflation will drop to single digits “with the support of tight monetary policy,” which surprised some experts because it seemed to endorse recent aggressive interest rate hikes.

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At a media event, Simsek stated that he also planned investor meetings in Germany, the financial centers of New York and London, as well as in cities in Asia and the Middle East.

Analysts praised what they said was a more realistic attempt to address inflation that reached at 85% last year after Erdogan’s policy U-turn began in June with Simsek’s appointment, but they cautioned that the short-term economic pain could test his patience.

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Foreign investors strongly appreciate Simsek, who emphasized the president’s support.

“Our president has full support, whether it be for the budgetary policies or the anti-inflation program. We not only see it, but we can also touch it, he informed the press.

He stated, in an apparent acknowledgment to skepticism in the financial markets about his ability to see through the policy change, “…There is not the slightest doubt.”

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Turkey has had severe economic hardships, with its foreign exchange reserves being drained and the value of the currency falling recently. Since the May elections, it has lost another 25% of its value against the dollar.

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According to the current official predictions, yearly inflation will increase to 65% by year’s end before declining to 33% the next year, from 24.9% and 13.8%, respectively, in the predictions made a year ago. GDP growth was slowed to 4.4% this year and 4% the following year, yet it is still more t

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