Biz EOD: Bank strike rocks nation; reality of tax numbers; insurance for medical tests

Around 2 million cheques worth about Rs 18,000 crore could not be sent for clearance due to the strike called by bank employees on November 26. While government claims on tax compliance and GST collections paint a healthier picture of the economy, tax-to-GDP has fallen for two consecutive years indicating that trouble is far from over. Most first-time health insurance buyers, as they search for a suitable plan, wonder if it will cover dental treatment or doctor consultations? Read for more top stories from the world of business and economy:

1. Get rid of intellectual property rights on COVID-19 products, India tells WTO

India has urged the World Trade Organisation to waive off intellectual property rights on vaccines, treatments or technologies that could prove helpful in global attempts to combat coronavirus pandemic.

2. Bank strike disrupts cheques clearance worth Rs 18,000 crore

CH Venkatachalam, general secretary, All India Bank Employees Union (AIBEA), said that nearly 2 million cheques worth Rs 18,000 crore could not be sent to clearing houses due to the strike.

3. Rebooting Economy: Do tax numbers show a healthier economy?

While government claims on tax compliance and GST collections paint a healthier picture of the economy, tax-to-GDP has fallen for three consecutive years and tax collections across the board in the first half of FY21 are nowhere close to FY20, indicating that trouble is far from over.

4. BT Insight: Want insurance for medical tests, dental treatment? Check out these options

Taking a lead, few insurers have started covering OPD expenses as an in-built feature in the main policy, while Star Health has launched a standalone OPD cover around 10 months ago.

5. COVID-19 impact: International flights ban extended till Dec 31

Restrictions will not apply to international all-cargo operations; international scheduled flights may be allowed on selected routes by the competent authority on case to case basis.