Indian students who have been accepted to universities in other countries will start getting ready to leave the country in the coming weeks so they can go to school in those countries.

Students and their parents can expect the next two months to be extremely hectic, what with applications for admission, loans, visas, and other paperwork that needs to be completed. In the midst of the time crunch to check off all of these items on your list, you will give any thought to the possibility that you will become ill while you are away from home.

The danger, on the other hand, is very real; consequently, once students arrive on campus, the majority of educational institutions demand that they be covered by one of the local health insurance policies sold by local insurers.

You will come out ahead if you purchase a cover for your textbooks, even if your school does not require you to do so. In the event that you become ill while traveling outside of the country, your standard medical coverage will not assist you in any way.

You will be spending a greater amount of time abroad in comparison to business or leisure travelers, and it is highly likely that you will require medical treatment at some point during your trip.

You have the option of purchasing health insurance once you arrive on campus, which is something that your university would also prefer, or you can purchase a travel insurance policy for international students before you depart India.

Your university now has the ability to insist on being covered under the policies of local insurers, which is a disadvantage with regard to the overseas policies offered by Indian insurers. On the other hand, university-facilitated health insurance comes with some limitations.

For instance, they do not cover baggage loss or trip delays, and they do not cover staying during midterm breaks. Additionally, university-facilitated health insurance tends to be more expensive.

Moneycontrol’s Preeti Kulkarni spoke with Nikhil Apte, Chief Product Officer, Product Factory (Health Insurance), Royal Sundaram General Insurance, to gain a better understanding of the specifics of an overseas student health insurance policy and how to make the best decisions.

The following is a list of important lessons learned from this episode of the Simply Save podcast:

“Students who study abroad face a very high level of medical danger.” A viral fever or typhoid fever, for example, can require a hospital stay of up to one week and cost up to fifty thousand dollars to treat. Therefore, payment other than cash is essential. “

Because of this requirement, universities in certain countries, such as the United States and Australia, for example, require their students to have health insurance.

“A student may find themselves traveling alone on multiple occasions, which exposes them to a number of hazards, such as the possibility of their luggage being delayed, the loss of their passport, and the cancellation of their trip. Such losses can be compensated for by purchasing a student travel insurance policy. As an illustration, the maximum amount of compensation for lost baggage is $500.

Student travel policies have a term of one year and can be renewed after that period of time. This is in contrast to regular leisure travel policies, which are only valid for up to 180 days.

“They cover mental health, nervous disorders, termination of pregnancy due to medical reasons and other things that leisure travel policies do not pay for,” etc. “They cover everything from mental health to termination of pregnancy due to medical reasons.”

“Students are typically pressured by educational institutions to purchase insurance policies offered by local companies.” Nevertheless, for one thing, risks associated with travel are not covered by such policies. In contrast to the Indian policies, they will not pay for your trip back home if your parents become ill, nor will they pay for your evacuation back to India if that becomes necessary.

Also, they won’t be able to help you if you have to travel to other countries for work or if you need medical coverage outside of the state where your university is located.

“Indian overseas student policies don’t cover treatment for alcoholism or injuries caused by adventure sports,” and “Indian overseas student policies don’t cover injuries caused by adventure sports.”

As a student, you have the option of attempting to persuade your university that your Indian overseas student policy satisfies the requirements of the institution, even if doing so requires a significant amount of correspondence with the officials.”

Even if they insist on having coverage from a local insurer, it makes sense to purchase an overseas student travel policy in order to protect yourself from the travel risks that it covers. Additionally, you are eligible to make a claim on your Indian policy for the amount that was not reimbursed by university-facilitated coverage (due to deductible or co-pay clauses).

Ford Motor Company: The automaker’s stock fell by 1 percent and reached a new low for the past 52 weeks after the company reported a slight increase in new vehicle sales for the second quarter but fell short of the expectations of automotive analysts.

In comparison to the previous year’s second quarter, the company reported that sales increased by 1.8 percent to a total of 483,688 new vehicles. Industry analysts predicted that the Detroit automaker’s sales would rise by 3.3 percent to 5.1 percent.

Energy stocks fell on Tuesday as the price of oil dropped by 8% and the benchmark price for oil in the United States traded below $100.

The S&P 500’s energy sector lost 5% of its value on the day, with shares of Marathon Oil, ConocoPhillips, and Halliburton falling by 6.3 percent, 7 percent, and 8.1 percent, respectively.

Both Exxon Mobil and Occidental Petroleum saw their stock prices fall by 3.1 percent and 2.2 percent, respectively.

Shares of HP Inc. fell by one percent after Evercore ISI lowered its rating on the company’s stock from outperform to line as the company prepares for a challenging market for personal computers in the future.

Stellantis— The automaker that was formerly known as Fiat Chrysler saw its share price drop by 5.6 percent after a report from union workers stated that the company’s production in Italy could be reduced by approximately 220,000 vehicles this year as a result of the global chip shortage.

When compared to the same time period in the previous year, Stellantis’ production of vehicles dropped by approximately 14 percent during the first half of this year.

AstraZeneca: Following the announcement that it would acquire TeneoTwo in a transaction that has a potential value of up to $1.27 billion, shares of the pharmaceutical company declined by 0.7%.

The stock of Crocs saw a 12.2 percent increase in trading volume after Loop Capital raised its recommendation for Crocs from “hold” to “buy.”

Crocs should not be considered a pandemic-era fad, as was stated in a note that Loop sent out to its customers, and the recent decline in the stock has gone too far, according to Loop.

The Goods and Services Tax (GST) Council may now include cryptocurrencies and related services in the 28 percent tax bracket, and the crypto industry is looking for a meeting with the government.The government had already put a 30% tax on gains from crypto assets and a 1% TDS tax on transactions.

Since April 1, when the income tax went into effect, there has been a big drop in the number of transactions in the industry. The possibility of a higher GST rate is likely to hurt the industry even more.

Moneycontrol has talked to people in the industry and found out that exchanges are worried about what this could mean for the future of trading cryptocurrencies in India.

“We are obviously unhappy with this line of thought. If they take such a position, things will become extremely difficult. No nation has taken this stance, and the upcoming TDS is already difficult. Frankly, we have no idea what their reasoning is; do they want to ban it without actually banging it? A member of the industry who wished to remain anonymous stated, “We have no idea.”

He added that the industry hopes to negotiate with the government.

Idealistically, we would want face-to-face time with the government for such a matter. On the one hand, we’ve heard that the government will take its time, while on the other hand, we’ve heard that it may soon regulate the industry. These are contradictory signals, said the individual.

Akshay Aggarwal, a venture partner at Draper Dragon Fund, thinks that the proposed measures will make it worse for crypto exchanges and talented people to leave India.

“In addition to retail investors, it would also affect algorithm-based algo crypto traders.” Even though trading volumes will be affected, these exchanges are registered outside of India and will enter other markets, he said.

The possibility of a 28 percent GST rate on cryptocurrencies was first reported by CNBC-TV18.Cryptocurrency exchanges currently pay 18% GST on the services they provide.Even though the next GST Council meeting hasn’t been set yet, experts think that a decision will be made soon.

“Now that a 30 percent tax rate and 1 percent TDS have been announced for income tax, the next major announcement will be the GST rate and how it will be treated.” Rashmi Deshpande, a partner at the corporate law firm Business Law Chamber, said that the definition of VDAs (virtual digital assets) is likely to be the same as that of IT regulations.

“Bearing in mind the high rate of income tax, it would be reasonable to expect a fair rate for the Goods and Services Tax (GST) to ensure that not only the government receives its revenue, but also the industry survives.” It remains to be seen whether the government devises a different set of rules for crypto assets, such as a valuation mechanism, “she added.

More importantly, the industry is still dealing with a lack of clarity regarding multiple income tax-related factors. Customers and exchanges will be even more confused if a new mandate is given out before the questions that have already been asked have been answered.

The government should have clarified the industry before imposing taxes and the Goods and Services Tax. Customers will now bear the majority of the 28 percent GST, making it difficult for them to conduct business.Also, how will an investor who transacts using an international wallet pay the GST? ” The founder of the crypto education platform Bitinning, Kashif Raza, stated this.

The 1% TDS is also seen as onerous, discouraging customers and generating massive amounts of additional paperwork for the government.

Some banks, including Kotak Mahindra Bank, have withdrawn support for cryptocurrency exchanges over the past month, resulting in fewer payment options on platforms. This domino effect ensued after US cryptocurrency exchange Coinbase was forced to delay implementing the Unified Payments Interface (UPI) on its platform.

According to Moneycontrol, the move by banks and the National Payments Corporation of India, which operates UPI, was more of a reaction to Coinbase’s extremely public announcement.

However, it is the GST tax that has players most concerned. Sathvik Vishwanath, founder and CEO of cryptocurrency exchange Unocoin, stated, “A 28 percent GST will cause significant industry disruption.” “Income tax is levied only on the profit, but GST could be levied on the entire transaction amount, which would be astronomical.”

For Edul Patel, co-founder of the cryptocurrency investment platform Mudrex, the exchange rate is of little concern.

“We already pay 18 percent GST, so a 28 percent increase will be insignificant.” Furthermore, the government’s 30% income tax and TDS make it abundantly clear that it does not want to encourage trading. This is an additional step in that direction. “

Since the government and the Reserve Bank of India are still worried that cryptocurrencies are not covered by the Prevention of Money Laundering Act and the Foreign Exchange Management Act and can therefore be used to fund illegal activities and wash money, the industry may not find a welcoming audience.