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Recognition to role of NBFCs.... No engine for this car The rise and fall of Annamalai University Plummeting profits of PSBs When TN politicians can emulate Kerala's West Bengal: mindless malignancy He continues the focus on social amelioration Padma Bhushan for A Ramakrishna Shipping woes of Chennai companies Delhi is distant An informal presentation - analytical, forward locking... New IT products of Ramco in the pipeline… Put expensive assets created to use... Computation of GDP – conundrums continue Boy, can you beat these? Fortune for Indian Airlines More Shakti to resource mobilisation... Not just in-laws (and outlaws); they’ve renowned academics at the helm! Fall in crude prices help in oil sector reform A Grand Finale for SN’s MS centenary at the US… Odisha: spectacular win by Naveen Patnaik Five star activism stalls development activity Shale gas and its shallow future Sri Lanka votes for change S Ramanathan – a versatile musician, musicologist Lalu’s envy, India’s pride Online not in line with brick and mortar businesses... A welcome initiative by the judiciary S V Raju – a ‘good’ true liberal Kudos to NDTV... Solar, solar everywhere … EVM is tamper-proof For whom the bell tolls? Making ‘my Amaravati’... Naidu will soon build a new Hyderabad Tribute – M V Murugappan Limit foreign borrowings to hi-tech, export potential projects... Godspeed, Chief Minister JJ Quality silica from Neyveli Tough task taking states together Tribute – Manikam Ramaswami Return to king coal for urea... CRS, a jewel among managers, is no more. L&T- the specialty of special purpose vehicles A friendly business group Why land prices zoom in TN? IPL type auction for VCs? TIAM turns a full cycle R Sridhar steps down as CEO of Shriram Capital The balancing act London, London Narayan Breaththrough in malaria control Small units prefers to remain small... Robber barons everywhere No mega rail project for Tamil Nadu There was flood of milk. Reason: no milk commissioner! The Jan Dhan bonanza Intellectual of rare qualities Revive development banks... The Ports’ Pasha expands into Tamil Nadu Bihar elections - the Rajaji formula worked GM Technology at last! No Maha Koottani in TN... Liberal imports idling indigenous capacities The brown list of Venkitaramanan Strengthen the base... Music happens Tribute – UCAL Selvan… Mu Sigma – is no more TGS- The king storyteller Streamlining mandatory third party cover Things happen by accident and not by design... The why of tax incentives More Shakthi to Das’ elbow Delhi is distant… Shanti and Sadhana through Music to the lack of interest on the part of these to focus on original research. This despite the much lower costs of such research in India. The industry which thrived on the protection of a closed economy and the advantage of a vast domestic market, has failed to organise its evolution on healthy lines IPL - no surprise this scam Poor quality of university VCs …and of a popular trade leader Like Hinduism: many paths to reach God... Adapt Vajpayee dinner diplomacy Editor's Says Measuring roof tops in terms of KW/MW Russi Mody – a tribute When small is no larger beautiful.. WTO Meet: resolved to meet again PC’s preference for professionals Muffled voices for merit… Solar thermal shines… Gay abandon in pricing Modi storms Silicon Valley Adharma of opposition politics Tatas moving out of urea production... Shaming of Tamils by Tamil farmers at Delhi Naidu’s return augurs well for Seemandhra Demise of a media baron... Build close rapport with business leaders Moily’s bold thrust Sweet news for TN sugar mills Banning booze... Focus on quality of power - its only around 170-180V Inflation: are we emulating Argentina and Brazil? Cleaning Ganga – relocate tanneries and install electric crematoria Fuel for thought SoA @ 80 Wanted: a second airport for Chennai Mersal magnified Nuclear power at the nucleus Should we change the official year? Of course, Gujarat is vibrant Towards speedy justice The Gulf aviation boom A glass full of corruption Secularism and anti-Hinduism Air Asia India will set new benchmarks for budget travel Contrarian cousins Infrastructure funding – lessons learnt Colour-Chem’s colourful KRVS Welcome GST Welcome focus on core competence Varuna (rain) in 2015; Vaayu (air) in 2016. Chennai devastated Come elections, come advertisements... Which side are you, Montek? Vibrant Gujarat Another Indian music maestro at the UN Whistle-Stop Tour of Raghuram Rajan How Air-India loses customs... When nations steal growth from one another… The sea- saw battle continues... Haul over the coal Alexa – Talking Wikipedia Scientists urged to take up farmer-oriented research Kinetic Karnataka Airlines in India: cost and space Reliance’s TV – 18 ready to launch Tamil News Channel Rs.1600 crore paper board plant of TNPL A proud Madrasi Where a state respects its litterateurs… Road development slows down CSR and CMI: promise of another Srinivasan Ramanujan... Protest masters... Paytm karo... Medical costs hit the roof... CIPET hqrs to stay at Guindy – for the present? The star of Spencers is no more The rise and rise of KCP Tihar, Puzhal not different from Parappana Agrahara Revving up the manufacturing sector Insurance companies bleeding, yet no decision on increasing FDI limit! Preserving for the future Editor's Notes CII projects higher growth… Kulandai was a giant This scant respect for Law When online building permits work…. Cutting the nose to spite the face TN accounts for the largest recruits by the IT sector Excel Generators provide the vital back-up GNS - 100: our first subscriber Funding the un-funded Rahman at CIC Convulsions in The Hindu The nuclear option An enemy’s enemy is a friend Silver Years of Madras Musings A more liberated TN… The few handicaps... Gas is the way forward When Ratan Tata visited SRM He saved millions from starvation... Readers' Mail Discoms deserve better… Telangana in top gear… Align crops to agro climate endowments… B H Kothari - a tribute Fortune 500 review Modi and the lady The Swadeshi Trump Eternal support for capitalisation of PS banks IAS invades NDDB... Don’t seem to feel the pulse… The power-full Hindujas Quality education through the PPP mode Diamond jubilee of Egmore Samskrt School Wise Presidents Sweeter prospects for sugar L&T: focus on infrastructure and more infrastructure… A think tank for Chennai Delhi Chalo... More tributes to GR TN – agglomerate land holdings without alienating ownership Roaring Ro-Ro facility A professional at the helm of IRDA... MHC should not return to its old indisciplined ways Waning interest in public discussions… Permanent secretariat for TN GIM Tax agriculture Welcome thrust on trade in Modi’s foreign visits... An inexplicable neglect Poor representation for Kerala and TN in Cabinet TELANGANA at last…BUT Dr C Rangarajan returns to Chennai Cement prices continue to rise… Where is Rajaji? Marketing expert Balagopal is no more A yen for wastage… Multi-faceted Venkat Building loyalty through the stomach Lesson from Chandrababu Naidu Engineering seats go abegging All eyes on Sankara Nethralaya More heat than light For whom the MIDS bell tolls? A C Muthiah – his munificent bequeaths to science Increasing non co-operation of state leaders F C Kohli - his concerns all embracing PPP mode for upgrading Corporation Hospitals Valli, they are more marginalised Bihar – Nitish Kumar adopts the Lalu model Polls and promises Noble nonagenarians... Chennai and Kolkata miss opportunity to grow as Delhi and Mumbai Welcome changes that testify to Jayalalithaa’s return to health Maximising the micro pricing … Parliament in paralysis... China invests in India TN-leverage strength of BHEL, NLC... Land reclamation from sea appears cheaper! The ‘Ayyo-yes’ is no more Why this malaise in medical education? A Grand Finale for SN’s MS centenary at the US… ONGC at KG Basin Pharma – overdose of copying When the President was rendered homeless… The ‘Jayanthi Tax.’ A rich pool of talent not utilised…. Tatas moving out of urea production... Auto components surge… Tribute Remembering Indira Sivasailam... Make standards certification mandatory... EEC at the National Media Centre Delhi returns to BJP
 
Streamlining mandatory third party cover

Even as I commend Nitin Gadkari for his initiative to streamline the issue of driving licences, I suggest his looking into a related area: the gross violation and indifference of owners of motor vehicles to take the mandatory insurance policies for third party cover. The violation extends to over 70 per cent in the case of two-wheelers and 50 per cent for cars and commercial vehicles.

This arises from two factors: one, the task of detecting such violations is with the state government through their RTOs and police departments. These have not been able to cope with the enormous increase in work, attending to the various aspects of administering and regulating road transport. Secondly, they have not had their records automated. Earlier, it was possible to attend to this at the time of payment of annual road taxes. But when the state governments changed this to collect road taxes on life time basis of ten years, enforcing of third party cover could not be made annually.

Insurance companies do have such records at least in regard to new vehicles sold over the last decade or so when the IT sector has evolved. But these have also been disparate companies not working in any coordinated manner. IRDA has been focusing on data collection in recent years.

The problem, however, relates to the coordination between the Centre and the states. Working in unison will help keep track of non-renewal of third party insurance policies.

A recent effort is to increase the duration of third party insurance to three years for two-wheelers. Doing this for cars and commercial vehicles is resisted on grounds of the higher sums involved. But if a substantially large volume of vehicles could be brought under mandatory third party insurance, there is scope for reducing the premium substantially. Such a system will also help insurance companies to reduce the humongous losses they have been suffering on motor vehicle insurance. For years, general insurance companies have been bleeding on account of the losses suffered on motor vehicle portfolio, despite the regular increase in tariff.

A solution can be found in permitting large private companies involved in the automobile sector to join hands with the government. In this, insurance companies and IT companies could be involved. The PPP mode can help attend to this issue of considerable importance in quick time. Nitin Gadkari, who has breathed fresh air in regard to the issue of driving licences and who has suggested the closing down of the inefficient RTOs, should focus on this area as well.

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