Are desi smartphone makers losing the battle? Insurance proceeds in instalments, and more news

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Soon, policyholders may be able to choose if they want to receive insurance proceeds in instalments. Insurance regulator IRDAI has come up with draft guidelines that propose claim settlement for personal accident and benefit-based health covers in three ways: as a lump sum, in equated instalments, or a combination of both. The objective? Ensuring “regular income for a reasonable period” following an unfortunate event, besides covering protracted expensive medical treatments. The total claim amount under instalments will be higher than the lump sum option, but the premium will be the same, the draft says.

The top 3 desi handset makers earn less than a fourth of their Chinese counterparts, Economic Times reports, citing regulatory filings. In FY18, the collective revenue at Micromax, Intex and Lava fell by more than a fifth to ?10,498 crore even as Xiaomi, Oppo and Vivo nearly doubled theirs to ?46,120 crore. Cut-throat competition is hitting all players: the Indian ones saw a 70% fall in combined profits while Xiaomi was the only Chinese firm in the black. Expect a sharper revenue decline in 2019 as Indian firms deal with JioPhone’s rise amid higher spends by Chinese manufacturers.

NIIT Technologies is selling a 30% stake to Baring Private Equity Asia for ?2,627 crore, regulatory filings show. The PE firm will also make an open offer to buy an additional 26% in the mid-sized IT services firm, taking the total deal value to ?4,890 crore. Earlier, media reports said Baring PE Asia might merge NIIT Technologies with Hexaware, in which it acquired a majority stake in 2013. Consolidation is on the rise among mid-tier IT companies; last month, L&T mounted a hostile bid to acquire Mindtree in a transaction estimated at ?10,800 crore.

Also: NIIT Tech is bulking up. The company is acquiring WHISHWORKS, a Hyderabad-based IT firm that specialises in MuleSoft and Big Data technologies, for around ?287 crore. 

Jet Airways’ self-owned planes could be repossessed and de-registered by American lenders. That’s because the carrier has delayed payments worth $18 million to global lenders under a financial lease arrangement for 10 Boeing 777 aircraft, Economic Times reports. These wide-bodied aircraft — used predominantly for international operations — are Jet’s primary assets. They have been offered as collateral for fresh loans. Times of India reports that lenders may inject just ?200 crore in Jet as against the ?1,500 crore emergency funding planned earlier as they await RBI’s clarity on debt recast norms.

Around the world, the rent is too darn high. Real home prices in 32 major global cities grew 24% over the past five years, while average real income rose only 8% in the same period, according to The Wall Street Journal. Cities have gained market appeal in recent years, as downtown areas have picked up economic steam. And an influx of foreign and domestic real estate investors looking for second homes has driven up prices. Meanwhile, developers have largely focused on upscale buyers, leaving a dearth of affordable options. ? Here’s what people are saying.

Idea of the Day: Many of us avoid asking others for help out of fear that we may seem bothersome or even incapable. But executive coach and psychologist Judith Sherven reminds us that, in many cases, asking others for assistance is more of an honour than we realise.

“Asking for help can be a precious gift. When we let our vulnerability show, we provide others with a more intimate glimpse into who we are.”

— Abhigyan Chand and Adith Charlie/Share this using #DailyRundown

Friday’s Rundown saw comments on India’s lackadaisical attitude to pollution control. Top Commenter Mihir Shah pointed out that high levels of air pollution make the concept of smart cities irrelevant. Join the conversation here.