Normally, banks do not allow premature withdrawal of a jointly held fixed deposit by a single holder even if the deposit is held on an ‘Either or survivor’ basis. In such a situation banks normally require signatures of both/all holders. However, what if the first holder or any one of them needs the funds urgently in a situation when the other holder is not available to sign? In such situations, quick access to one’s own funds (the fixed deposit) becomes difficult even in an emergency. There could be a situation in the current pandemic where one of the holders is…
Author: Miley Selena
UNISOC together with China Unicom, successfully completed end-to-end service validation of the world’s first eMBB+uRLLC+IIoT (enhanced mobile broadband + ultra-reliable and low latency communications + industrial Internet of things) based on the 3GPP R16 standard, laying a foundation for the commercial use of 5G R16. In July 2020, after the freezing of the 5G R16 standard, UNISOC began working closely with China Unicom to develop cutting-edge technologies, with a commitment to leading the 5G ecosystem. This technological joint debugging successfully carried out the validation of R16 protocol, 1 microsecond high-precision timing, 5G LAN and other technical features of IoT. This…
The COVID-19 pandemic not only creates challenges for banks, but also pushes them to foster digital transformation to survive, experts have said. A recent survey by the State Bank of Vietnam found that 95 per cent of credit institutions in Vietnam have either implemented digital transformation strategies or are in the process of formulating them. It is expected that in the next three to five years digital-only banks will have revenue growth of at least 10 per cent, while regular lenders will have more than 60 per cent of customers using digital transaction channels. State-owned banks seek to digitise their…
The infection tally of Vietnam’s new Covid-19 wave rose to 177,804 Thursday morning with 3,941 new cases added in 24 cities and provinces. New coronavirus infections in HCMC have been “plateauing” over the past few days, indicating a gradual reduction. Among the new patients, HCMC accounted for 2,349, followed by its neighboring provinces of Binh Duong (497), Tay Ninh (235), and Long An (189), etc. Of the total new cases, 1,008 were detected in the community and 2,933 in quarantine camps or lockdown areas, VNExpress reported. Since the wave started on April 27, community transmissions have been recorded in 62…
Delivery startup Loship has raised $12 million from a consortium co-led by an Alibaba-backed investment fund. Morre stories at Vietnam Insider’s homepage. The lead investors are BAce Capital, which counts Ant Financial of Jack Ma as its largest limited partner, and Hong Kong investment firm Sun Hung Kai & Co. Loship plans to use the money to increase its presence in five main areas, including Ho Chi Minh City, Hanoi and Da Nang. It hopes to sign up 10 percent of the country’s population in the next two years and to have a presence in 10 localities. Loship CEO Nguyen…
Vietnam overtook Bangladesh last year to become the world’s second largest garment exporter with a turnover of US$29 billion, according to statistics from the World Trade Organization. More stories at Vietnam Insider’s homepage. Vietnam gained a global market share of 6.4 percent last year, less only than China’s 31.6 percent. In 2019, it had only had a share of 2.9 percent. Bangladeshi garment output fell last year as many western firms cancelled orders or delayed payments and garment factories closed down amid the Covid-19 pandemic. Prof Mustafizur Rahman, a distinguished fellow at Bangladesh’s Center for Policy Dialogue, said Vietnam’s fairly…
Vice President Kamala Harris is set to travel to Vietnam and Singapore later this month, becoming the highest-ranking Biden administration official to visit Asia so far. Details of such a trip are not final yet, but the coronavirus pandemic is likely to be on Harris’s agenda, source familiar with the matter said “Her trip will build on the Biden-Harris Administration’s message to the world: America is back,” her office said in a statement. The statement continued, “Our Administration sees Asia as a critically important region in the world. The Vice President’s visit will emphasize the importance of comprehensive engagement and…
Vietnam has updated its coronavirus guidance to full vaccinated entrants can now quarantine for just seven days instead of its previous 14-day recommendation. Shortened alternatives for quarantining were announced by Health Ministry on Wednesday. A document by the ministry said entrants with proper certificates to show that they have been fully vaccinated with the last dose given between 14 days and 12 months before arrival, and have tested negative for the coronavirus within 72 hours before arrival, VNExpress reported. Additionally, those infected with Covid-19 and have certificates to prove that they have recovered from it within the last six months…
COVID-19 returns to China’s Wuhan as global Delta variant woes mount. Authorities in China’s Wuhan said Tuesday they would test the city’s entire population for COVID-19, as the virus returned to the place where it first emerged and the highly contagious Delta variant drove tightening lockdowns worldwide. A resurgent virus has returned with a vengeance, buoyed by stalling vaccination rates and deadly new mutations even in places which had long touted their successes in overcoming the worst of the pandemic. China brought domestic cases down to virtually zero after the coronavirus first emerged in Wuhan, allowing the economy to rebound…
If you are a nominee of an LIC (Life Insurance Corporation) policyholder who has died, then you should know that the process to file a death claim is done completely offline. You should keep all the required documents to file the death claim handy before approaching the home branch from where the policy was issued. Added to this, you will be required to get the signature of the policyholder’s insurance agent or the development officer on the death claim form before submitting it for processing along with other documents. Here is a step-by-step guide on submitting a death claim with…