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Defence Minister Rajnath Singh on Monday asserted that India is setting new benchmarks in medical research and developing indigenous solutions to global health challenges through gene therapy and nuclear medicine. India's health system is also emerging as more self-reliant, he said addressing the 22nd convocation ceremony of the King George's Medical University, Lucknow. "Today, India's health system has emerged as more self-reliant, accessible, affordable, modern and people-centric as compared to earlier times. Today, India is developing indigenous solutions to global health challenges through gene therapy, nuclear medicine, and other modern technologies," Singh said. The Lok Sabha MP said the country's scientists have successfully demonstrated an indigenous gene therapy for the treatment of haemophilia, while scientists at an institute in Pune have developed a state-of-the-art nanomedicine for treating breast cancer. The 'Production Linked Incentive' scheme, he said, has given fr
State-owned Bank of Baroda (BoB) on Thursday said it reached an out-of-court settlement with NMC Health PLC, NMC Healthcare Ltd, and NMC Holding Ltd, with USD 600 million (about Rs 5,700 crore) paid through its Abu Dhabi Branch. The case involved proceedings under Abu Dhabi Global Market (ADGM) and UK insolvency regulations, and the UAE civil law in relation to NMC Health PLC, NMC Holding Ltd and NMC Healthcare Ltd, BoB said in a regulatory filing. "NMC Health PLC, NMC Healthcare Ltd, NMC Holding Ltd, and their respective Joint Administrators, have resolved the claims between them and the Bank of Baroda in consideration for, inter alia, payment by Bank of Baroda of USD 600 million, pursuant to a settlement agreement," it said. All claims, causes of action, etc. between them have been resolved without admission of liability or wrongdoing, it said. The settlement agreement and its terms otherwise remain confidential, it said, adding that the liability of the bank in these proceedings