Japan's Marubeni to foray into Indian real estate

MUMBAI: Japanese institutional investor Marubeni Corporation has agreed to invest Rs 300 crore in realty developer Wadhwa Group’s nearly 1-million sq ft residential project ‘Atmosphere’ in Mulund suburb of Mumbai.This is Marubeni’s maiden investment in Indian real estate. It said in a statement that it will be investing in the project by subscribing to non-convertible debentures (NCDs) issued by the company’s project subsidiary, Atmosphere Realty.The investment will be used for the project’s second phase--Atmosphere O2--being developed by Atmosphere Realty. The first phase of the project has already been completed and delivered to 650 customers.The deal comes at a time when several transactions have being put on the backburner due to the coronavirus pandemic which is hitting global economic growth.The residential project, spread over 4.72 acres on Goregaon-Mulund Link Road (GMLR) is being developed by the Wadhwa Group in alliance with Man Infra Construction and Chandak Group.The 700-apartment project is expected to be completed by December 2025.“For this project, Marubeni will bring to the table its considerable experience cultivated from developing real estate in Japan, China and the ASEAN region, and collaborate with Wadhwa,” Marubeni said.The Wadhwa Group declined to comment.With this deal, Marubeni expects to grow the Indian market as a pillar of its overseas real estate business.The Japanese conglomerate’s activities in India will not be limited to the promotion of smart cities and other such real estate development business, but in future the entity will also venture into a number of related development businesses, including social infrastructure maintenance, new sales channels and services these businesses produce.Apart from US, Singapore and Chinese investors, several investors and developers from Japan are eyeing opportunities in this segment, given the relatively better economic growth estimates.In 2018, Mitsubishi Corporation was the first Japanese corporation to invest in Indian real estate after it agreed to deploy Rs 180 crore for 70% stake in a residential property being developed by Shriram Properties in Chennai. Last year, Japanese company Sumitomo Corporation concluded one of the largest land transactions in the country when it bought a 3-acre land parcel in Mumbai’s business district Bandra-Kurla Complex (BKC) for Rs 2,238 crore.

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Tatas object to Shapoorji Pallonji Group plan to pledge stake

Mumbai: Tata Sons and its estranged minority shareholder Shapoorji Pallonji (SP) Group have clashed once again with the former objecting to cash-strapped SP Group’s plans to pledge a portion of its stake in the Tata Group parent to raise money. Pallonji Mistry and sons Shapoor Mistry and Cyrus Mistry, who together control the diversified SP Group, have tapped Canadian investor Brookfield for a mega $2-2.5 billion funding facility using part of its stake in Tata Sons as collateral. Brookfield, while evaluating the investment, has also reached out to a group of global and local banks to scope out refinancing opportunities. Most lenders however have sought an acknowledgement from Tata Group for their in-principle buy-in.“In the last 2 years, the operating companies of the SP Group have recorded their strongest performance to date,” an SP Group spokesperson told ET. “The Group has adequate liquidity to meet its current obligations. The SP Group periodically adjusts its portfolio to maximise value from all its assets, and such value maximisation programs are on track.” The spokesperson said that the Covid-19 pandemic has impacted all sectors, including the construction and real estate sector. 74923079 ‘Right of First Refusal with Tatas’However, “the swift response from the Government of India, including the Reserve Bank of India, has helped mitigate the economic impact of the lockdown,” the SP Group spokesperson added.A senior Tata Sons executive aware of the development said there is clear restriction on transfer of Tata Sons shares to a non-shareholder as it is a closely held holding company. Clauses in the Articles of Association say that shares cannot change hands including to lenders or other parties. "The first right of refusal rests with Tata Sons and the SP Group will have to issue a notice to the Tata Sons board,” the person said on condition of anonymity. A top legal official close to the SP Group however disputed this saying that AoA does not prevent pledging of shares. “Pledging happens only as a mechanism for security. These shares are not for sale. And in a worst case scenario where SP Group cannot meet obligations on the pledged shares, nothing can stop them from selling shares which are held in Cyrus & Sterling Investments. Also, Tata Sons can object to transfer of shares to undesirable entities which can only be a criminal or competitor, " he added. Brookfield declined to comment and Tata Group declined to send an official response. Pallonji Mistry, whose son Cyrus was ousted as chairman of Tata Sons in October 2016, has been sparring with the Tata Group since then on various corporate governance related matters. Mistry’s dismissal is now being heard in the Supreme Court.The 18.4% stake that the Mistry family owns in Tata Sons is held through two family entities, Sterling Investments and Cyrus Investments, making them the biggest single shareholders in India’s largest conglomerate. Closely held Tata Sons, which controls the $111 billion conglomerate spanning more than 100 companies, is 66% owned by Tata Trusts, helmed by chairman emeritus Ratan Tata.The value of the Mistry family stake, as per various credit assessments for advancing money against it, is pegged at $14-20 billion. Cyrus Mistry had himself cited $14 billion as an estimate in the past. At a time when the two key pillars of SP Group -- construction and realty --are both parched for cash, the group wants to raise more money to meet current and future obligations. In January, ET reported that SP Group had raised $200 million from Deutsche Bank against the Tata Sons shares as a short-term funding measure. Since then, sources said, the family has been negotiating with Singapore based private lenders and hedge funds to borrow expensive money at Libor plus 10. The over 90% erosion of Sterling and Wilson Solar, a group company, since its August listing, has also made the situation more acute, said SP Group watchers. In recent months, people in the know said, the Mistrys have also had talks with a diverse set of funds including KKR, banks such as Standard Chartered and nonbank finance companies (NBFCs) like Edelweiss, among others, to raise funds. However, its requirements have also gone up exponentially as no debt resolution has been in sight. "No one can sell Tata Sons shares which are privately held without seeking Tata Sons approval,” said a lawyer for Tata Trusts. “Tata Sons will have to be offered the shares first which can be bought at a deemed fair price approved every year by the holding company."Cherag Balsara, a practising advocate in commercial law in the Mumbai High Court, said that pledging of shares is different from mortgage. "Pledging is different from a mortgage, according to the Supreme Court in the case of Balakrishnan Gupta V/s Swadeshi Polytex. The ownership of the pledged shares continues to remain with the pledgor and therefore no interest is created in the same. If Tata Sons were to file an action for restraining SP Group from pledging its shares, it would amount to the oppression of the minority shareholder,” he added. Balsara also explained that a shareholder has the right to benefit from the equity share ownership. “Since the Tata Group would be restraining a shareholder from exercising its legal right to benefit from the ownership of its shares which include a right to pledge or receive bonus shares, dividends etc," Balsara added.The banks who have been approached for refinancing by Brookfield are also in a bind since Tata Sons is an illiquid stock and is under litigation. They are pressing for a NoC or a verbal assurance from Tata Sons. The matter is yet to come up to Tata Sons board, people in the know said.According to a CARE Ratings report, dated February 21, the SP Group’s debt increased from Rs 28,000 crore in March to Rs 30,000 crore as on September 30, 2019 while the company’s standalone debt stood at Rs 9,019 crore as of September-end. Matters have compounded since the asset sale exercises – Eureka Forbes and solar assets – are also far from closure. The sale process for the former has been paused with the onset of Covid-19 after muted response from potential buyers who baulked at the premium billion dollar plus valuation.“In view of substantial repayments ~Rs.3,000 crore falling due in H2FY20 at SPCPL (standalone) level, timely progress with respect to these initiatives would be critical for the credit profile of the company and will be a key rating monitorable,” the Care report said.

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कोविड-19 : देश में वायरस के वो हॉटस्पॉट, जहां से और फैल रहा कोरोना

सरकार ने देशभर में हॉट-स्पॉट चिह्नित किए हैं जहां कोरोना तेजी से फैल रहा है। क्लस्टर के तौर उन स्थानों को चुना गया, जहां दस से अधिक कोरोना संक्रमित मरीज मिले।

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The Covid pause on your EMIs: Here's what banks have to offer

Bengaluru | Mumbai: Banks will mostly adopt one of two methods to honour the Reserve Bank of India’s call to allow borrowers to defer loan repayments for three months, according to people with knowledge of the matter. Customers will either have to contact the bank if they want to take advantage of the moratorium or the bank will allow the three-month break by default. In the latter instance, customers will need to let the bank know in case they want to keep up with payments.Banks said they have got in touch with customers or will do so in the next few days once they decide how to implement the decision. Many banks are still formulating policies on how the moratorium will be extended to retail loans, given their variety and complexity. RBI had announced the moratorium on March 27 as a relief to borrowers with the economy having ground to a halt due to the Covid-19 outbreak. SBI customers will possibly be able to opt for the delay by sending an email or visiting the branch, said the people cited above. Those who don’t want the option don’t need to do anything. The bank is working on the modalities with its IT department and the details could be out soon, they said.‘Be Wary of Debt Trap’Bankers said the way the moratorium is implemented will depend on the product. Borrowers should also be wary of getting into a debt trap. 74922733 “It’s a complex process and cannot be a one-size-fits-all,” said Axis Bank executive director Pralay Mondal. “Retail loans are of different kinds and the dispensation has to be in terms of the profile of borrowers and transaction history. For example, if we offer a moratorium for credit card loans, we may push some borrowers into revolving credit, which is dangerous both for the bank as well as the customers. We are still working out how to implement this.”ICICI Bank will offer customers options based on the product. Some customers will automatically be allowed a moratorium but can opt out if they want to while others will have to specifically ask for the deferment. Details are being worked out and will be issued shortly.HDFC Bank will likely ask customers to seek a moratorium by filling in their loan details on the website or sending an email. It will be assumed that those who don’t contact the bank will be able to keep paying. The policy is pending board approval.State-owned Canara Bank, the country’s fourth largest lender, has sent an SMS to 1.3 million retail customers stating that customers will need to respond with a ‘no’ so that standing instructions, post-dated cheques and electronic clearing system (ECS) payments can be stopped. If they do, the bank will not deduct equated monthly installments (EMIs) for three months.“We are sending similar SMSes to our MSME customers today. We have already received 33,000 SMSes from customers saying ‘no’. We will not deduct their EMIs for March, April and May,” said Canara Bank executive director A Manimekhalai.The bank did this to ease pressure on branches in the next few days.“Our branches will be under heavy pressure, having to make thousands of payments under various government schemes in the next few days,” she said. “They will not be able to handle customer queries related to EMIs, and large number of customers visiting branches for this will defeat the very purpose of social distancing. A simple SMS we thought will solve the problem.”IDFC First Bank will activate the moratorium for customers if they apply for it by email with mobile and loan account numbers. Punjab National Bank and Indian Bank announced they have activated the moratorium effective March, prompting queries from customers about whether these had to be applied for.Bank of Maharashtra also said it will continue to honour standing instructions on loan repayment unless the borrower applies for a delay. “The borrower is given liberty to make payment as per existing arrangement,” it said in a tweet.Private lenders Karnataka Bank and Federal Bank are working on options.“As of now, we have gone ahead with the three-month moratorium,” said Mahabaleshwara MS, MD at Karnataka Bank. “We have received many phone calls from customers asking if they can pay up their EMIs as before. We have to respect their sentiments, too. We are analysing those requests, and decide how to go about it.”An executive at Kerala-based Federal Bank said it’s working on various options to help customers who wish to opt out of the RBI relief.IDBI Bank is adopting a similar tack.

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$15.9 bn pulled out, FPIs march out of India

Mumbai: With global trading desks in a ‘sell-everything’ mood, foreign portfolio investors (FPIs) pulled a record $15.9 billion (Rs 1.2 lakh crore) out of the Indian debt and equity markets in March, according to NSDL data compiled by the ET Intelligence Group. The Covid-19 outbreak has wreaked havoc on markets across the world, with investors fleeing to whatever haven they can find, exceeding exits from India during the financial crisis. For the year, FPIs have pulled out a record $15.11 billion (Rs 1.12 lakh crore) from India, the most in Asia, barring South Korea.The combined impact of market value erosion and redemption pressure on fund houses compressed total Indian equity assets under management by FPIs to $341 billion (Rs 25.52 lakh crore) on March 15, compared with $431 billion (Rs 33 lakh crore) at the beginning of 2020, a decline of 20%.FPIs account for a fifth of the total market capitalisation of Indian equities. In the first fortnight of March, the selling of FPIs in financial services, banks and oil & gas counters accounted for nearly 90% of the total outflow. FPIs have sold equities worth $9.5 billion (Rs 71,000 crore) in the past 22 days. On a rolling basis, FPI selling in the past 22 trading days was 0.7% of India’s market capitalisation, the most in the history, according to Nomura.74922864 Total March sales exceeded total FPI exits in all of 2008, the year of the global financial crisis. Fund flows from the debt and equity markets amounted to $9.33 billion (Rs 69,800 crore) in 2008. The ratio of purchases to sales of FPIs in the equity segment was 0.74 in March 2020 compared with 0.76 in September 2008. FPIs sold equities worth a record Rs 2.2 lakh crore in March 2020.On debt side, the gross buying to sales ratio was 0.27, the lowest since April 2008.

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Energy firms hit by a pandemic of lawsuits

New Delhi: Energy companies are flooded with force majeure notices from customers as the lockdown has shuttered factories and commercial establishments, destroying fuel and electricity demand.From small tile makers in Gujarat to big fertiliser and power producers, refiners, and oil & gas producers have been jolted by the global spread of Covid-19, the measures taken to stem its spread and the economic fallout.Several small factories that have shut due to the lockdown have mailed force majeure notices to city gas distributors, who have in turn sent similar intimations to gas marketers such as GAIL, IndianOil and GSPC. GAIL, meanwhile, has issued force majeure notices to its domestic and overseas suppliers, including ONGC, Petronet LNG and Russia’s Gazprom.‘Chain Reaction’“It’s a chain reaction. If the end consumer loses appetite, the effect will go right up to the producer. This is an extraordinary time, and the problem is so widespread that it’s hard for anybody in the middle to absorb the shock,” said a GAIL executive. 74922877 GAIL has also received force majeure notices from several heavyweight customers in the fertiliser, power and refinery sectors. Power plants are facing a 30% drop in consumer demand as industries and offices remain shut. Fertiliser units have slowed due to labour shortage and transport hurdles, which has brought down their gas requirements.Petronet LNG, India’s biggest gas importer, has declared force majeure with respect to its gas purchase contracts with suppliers in Qatar and Australia, and deferred deliveries.Demand cut notices from GAIL, GSPC and other smaller buyers have forced 18% gas output cut at ONGC, India’s largest gas producer. “We have selectively shut wells and will be able to reopen them quickly when demand picks up after the lockdown,” ONGC chairman Shashi Shanker said.With fuel sales evaporating during the lockdown, refiners filled up their storages, cut run rates and then issued force majeure notices to suppliers across the globe. “This is an unprecedented situation. You can’t take more crude than you can process or store. It’s a global pandemic and even suppliers understand the problem,” said an executive at a state oil company.Most refineries in the country are running at about half their capacity and this might shrink further over the next few days. IndianOil, MRPL and HPCL are among refiners which have already invoked force majeure and deferred most of their April deliveries.Industrial customers whose functioning has been hampered due to the lockdown have also sent force majeure notices to refiners, citing an inability to take refined products.

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Shuttered buyers send force majeure notices to energy companies

New Delhi: Energy companies are flooded with force majeure notices from customers as the lockdown has shuttered factories and commercial establishments, destroying fuel and electricity demand.From small tile makers in Gujarat to big fertiliser and power producers, refiners, and oil & gas producers have been jolted by the global spread of Covid-19, the measures taken to stem its spread and the economic fallout.Several small factories that have shut due to the lockdown have mailed force majeure notices to city gas distributors, who have in turn sent similar intimations to gas marketers such as GAIL, IndianOil and GSPC. GAIL, meanwhile, has issued force majeure notices to its domestic and overseas suppliers, including ONGC, Petronet LNG and Russia’s Gazprom.‘Chain Reaction’“It’s a chain reaction. If the end consumer loses appetite, the effect will go right up to the producer. This is an extraordinary time, and the problem is so widespread that it’s hard for anybody in the middle to absorb the shock,” said a GAIL executive. 74922877 GAIL has also received force majeure notices from several heavyweight customers in the fertiliser, power and refinery sectors. Power plants are facing a 30% drop in consumer demand as industries and offices remain shut. Fertiliser units have slowed due to labour shortage and transport hurdles, which has brought down their gas requirements.Petronet LNG, India’s biggest gas importer, has declared force majeure with respect to its gas purchase contracts with suppliers in Qatar and Australia, and deferred deliveries.Demand cut notices from GAIL, GSPC and other smaller buyers have forced 18% gas output cut at ONGC, India’s largest gas producer. “We have selectively shut wells and will be able to reopen them quickly when demand picks up after the lockdown,” ONGC chairman Shashi Shanker said.With fuel sales evaporating during the lockdown, refiners filled up their storages, cut run rates and then issued force majeure notices to suppliers across the globe. “This is an unprecedented situation. You can’t take more crude than you can process or store. It’s a global pandemic and even suppliers understand the problem,” said an executive at a state oil company.Most refineries in the country are running at about half their capacity and this might shrink further over the next few days. IndianOil, MRPL and HPCL are among refiners which have already invoked force majeure and deferred most of their April deliveries.Industrial customers whose functioning has been hampered due to the lockdown have also sent force majeure notices to refiners, citing an inability to take refined products.

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Banks start giving options to avail loan moratorium

Bengaluru | Mumbai: Banks will mostly adopt one of two methods to honour the Reserve Bank of India’s call to allow borrowers to defer loan repayments for three months, according to people with knowledge of the matter. Customers will either have to contact the bank if they want to take advantage of the moratorium or the bank will allow the three-month break by default. In the latter instance, customers will need to let the bank know in case they want to keep up with payments.Banks said they have got in touch with customers or will do so in the next few days once they decide how to implement the decision. Many banks are still formulating policies on how the moratorium will be extended to retail loans, given their variety and complexity. RBI had announced the moratorium on March 27 as a relief to borrowers with the economy having ground to a halt due to the Covid-19 outbreak. SBI customers will possibly be able to opt for the delay by sending an email or visiting the branch, said the people cited above. Those who don’t want the option don’t need to do anything. The bank is working on the modalities with its IT department and the details could be out soon, they said.‘Be Wary of Debt Trap’Bankers said the way the moratorium is implemented will depend on the product. Borrowers should also be wary of getting into a debt trap. 74922733 “It’s a complex process and cannot be a one-size-fits-all,” said Axis Bank executive director Pralay Mondal. “Retail loans are of different kinds and the dispensation has to be in terms of the profile of borrowers and transaction history. For example, if we offer a moratorium for credit card loans, we may push some borrowers into revolving credit, which is dangerous both for the bank as well as the customers. We are still working out how to implement this.”ICICI Bank will offer customers options based on the product. Some customers will automatically be allowed a moratorium but can opt out if they want to while others will have to specifically ask for the deferment. Details are being worked out and will be issued shortly.HDFC Bank will likely ask customers to seek a moratorium by filling in their loan details on the website or sending an email. It will be assumed that those who don’t contact the bank will be able to keep paying. The policy is pending board approval.State-owned Canara Bank, the country’s fourth largest lender, has sent an SMS to 1.3 million retail customers stating that customers will need to respond with a ‘no’ so that standing instructions, post-dated cheques and electronic clearing system (ECS) payments can be stopped. If they do, the bank will not deduct equated monthly installments (EMIs) for three months.“We are sending similar SMSes to our MSME customers today. We have already received 33,000 SMSes from customers saying ‘no’. We will not deduct their EMIs for March, April and May,” said Canara Bank executive director A Manimekhalai.The bank did this to ease pressure on branches in the next few days.“Our branches will be under heavy pressure, having to make thousands of payments under various government schemes in the next few days,” she said. “They will not be able to handle customer queries related to EMIs, and large number of customers visiting branches for this will defeat the very purpose of social distancing. A simple SMS we thought will solve the problem.”IDFC First Bank will activate the moratorium for customers if they apply for it by email with mobile and loan account numbers. Punjab National Bank and Indian Bank announced they have activated the moratorium effective March, prompting queries from customers about whether these had to be applied for.Bank of Maharashtra also said it will continue to honour standing instructions on loan repayment unless the borrower applies for a delay. “The borrower is given liberty to make payment as per existing arrangement,” it said in a tweet.Private lenders Karnataka Bank and Federal Bank are working on options.“As of now, we have gone ahead with the three-month moratorium,” said Mahabaleshwara MS, MD at Karnataka Bank. “We have received many phone calls from customers asking if they can pay up their EMIs as before. We have to respect their sentiments, too. We are analysing those requests, and decide how to go about it.”An executive at Kerala-based Federal Bank said it’s working on various options to help customers who wish to opt out of the RBI relief.IDBI Bank is adopting a similar tack.

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कोरोना: देश में अब 1397 मरीज, दिल्ली में तीसरे दिन भी 23 नए रोगी, यूपी में संख्या 100 पार

कोरोना के 146 नए मामलों के साथ देश में इस महामारी की चपेट में आए लोगों की संख्या 1397 हो गई। 123 मरीज ठीक हो चुके हैं। वहीं, बीते 24 घंटों में देश में तीन और मौत हो गई।

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200 से ज्यादा देशों तक फैले कोरोना से 176,714 लोग हुए ठीक, स्पेन-इटली में 20000 से अधिक मौतें

पहले एक लाख पीड़ितों की संख्या तक पहुंचने में तीन महीने लेने वाली कोरोना वायरस महामारी का असर तेजी से बढ़ रहा है।

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कोरोना से जंग में मिली कामयाबी, बिना बेहोश किए ऑक्सीजन भरेगी सी-पैप मशीन

कोरोना की जंग से जूझने वालों के लिए अच्छी खबर है। यूनिवर्सिटी कॉलेज ऑफ लंदन के वैज्ञानिकों ने चार दिन के भीतर आधुनिक सी-पैप मशीन तैयार की है।

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दिल्ली में लगातार तीसरे दिन 23 और कोरोना मरीज मिले, अब तक 120 संक्रमित

दिल्ली में कोरोना वायरस से संक्रमित मरीजों के सामने आने का सिलसिला लगातार जारी है।

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लॉकडाउन: जर्मनी में भी हर तरफ कोरोना का ही रोना, पड़ोसी देशों की सीमाएं बंद

यूरोपीय महाद्वीप की सबसे बड़ी और विश्व की चौथी सबसे बड़ी अर्थव्यवस्था जर्मनी में भी कोरोना का ही रोना है। यहां से कोरोना वायरस का संक्रमण रोकने के लिए कमोवेश वही उपाय किए गया हैं जो भारत में हैं।

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कोरोना वायरस के 'पापा' के सवाल पर घमासान, चीन और अमेरिका में बढ़ा वाक युद्ध

कोरोना वायरस का दुनिया के देश दंश झेल रहे हैं। सितंबर 2019 में चीन में कोरोना का पहला ममला सामने आया था विशेषज्ञों का यही कहना है।

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तब्लीगी जमात में शामिल कश्मीरी कारोबारी ने मरने से पहले कई लोगों को किया संक्रमित

दिल्ली के निजामुद्दीन में तब्लीगी जमात में शामिल श्रीनगर के कारोबारी की कोरोना वायरस से मौत हो गई है।

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आशंकाः मरकज से निकलकर छिप गए हैं कोरोना संक्रमित लोग

निजामुद्दीन स्थित तब्लीगी जमात का मरकज कोरोना वायरस संक्रमण का सबसे बड़ा केंद्र बनकर सामने आया है।

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अमेरिका : एक माह की लापरवाही ने बढ़ाई महामारी, जांच में बरती गई कोताही

अमेरिका में बेकाबू कोरोना ने प्रशासन और व्यवस्था की पोल खोल दी है। अमेरिकी प्रशासन की सबसे ज्यादा आलोचना लोगों की समय रहते जांच न कर पाने को लेकर हो रही है।

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कोरोना का बम और जानलेवा लापरवाही, दिल्ली से देशभर में फैलाया कोरोना संक्रमण

निजामुद्दीन स्थित मरकज में आए लोगों से देशभर में कोरोना संक्रमण फैलने की आशंका है।

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कोरोना: WHO की एशिया और प्रशांत क्षेत्रों को चेतावनी, कहा- वायरस से लंबी है लड़ाई

विश्व स्वास्थ्य संगठन (डब्ल्यूएचओ) ने चेतावनी दी है कि कोविड-19 को लेकर पूरा ध्यान जहां पश्चिमी यूरोप और उत्तर अमेरिका के सर्वाधिक प्रभावित क्षेत्रों की ओर चला गया है वहीं एशिया और प्रशांत क्षेत्र में यह महामारी अभी समाप्त होने से बहुत दूर है।

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अच्छी खबर : Jio से लेकर BSNL तक मोबाइल कंपनियों ने बढ़ाई वैलिडिटी, मुफ्त टॉकटाइम भी

कोरोना संकट के बीच ट्राई की अपील के बाद सभी दूरसंचार कंपनियों ने अपने प्रीपेड ग्राहकों की वैलिडिटी को लॉकडाउन तक बढ़ा दिया है। इसमें सार्वजनिक क्षेत्र की बीएसएनएल-एमटीएनएल के अलावा जियो, एयरटेल और वोडा आइडिया भी शामिल हैं।

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कोरोना का इलाज एचआईवी नहीं मलेरियारोधी दवाओं से, केंद्र ने दी नई गाइडलाइन

कोरोना वायरस के इलाज के दौरान आईसीयू में पहुंचे संक्रमितों को मलेरियारोधी दवा हाइड्रोक्सीक्लोरोक्विन को एजीथ्रोमाइसिन के साथ देने की सिफारिश केंद्रीय स्वास्थ्य मंत्रालय ने की है।

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तबलीगी जमात में दिल्ली गए मध्यप्रदेश के 82 लोगों की हुई पहचान, क्वारंटीन में रखा

दिल्ली के निजामुद्दीन इलाके में मरकज में आयोजित की गई तबलीगी जमात धार्मिक सभा के बाद सामने आए कोरोना वायरस के मामलों ने पूरे देश हड़कंप मचा दिया है। हालांकि इस सभा में शामिल होने के बाद मध्यप्रदेश लौटकर आए 82 लोगों की पहचान कर ली गई है।

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कोरोना वायरस पर राष्ट्रीय तैयारी की रिपोर्ट जल्द, 266 आईएएस का फीडबैक होगा शामिल

केंद्र सरकार जल्द ही कोरोना वायरस से जुड़ी राष्ट्रीय तैयारियों पर अपनी सर्वे रिपोर्ट पेश करेगी। यह रिपोर्ट 266 आईएएस अधिकारियों से मिले फीडबैक के आधार पर तैयार की जा रही है।

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बिहार: कोरोना के संदिग्ध मरीज की सूचना देने वाले युवक को पीटकर मार डाला

बिहार के सीतामढ़ी जिले में कोरोना वायरस के एक संदिग्ध के बारे में प्रशासन को जानकारी देने वाले युवक को अपनी जान गंवानी पड़ी।

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तेलंगाना: वित्तीय संकट को दूर करने के लिए अधिकारियों, मंत्रियों के वेतन में होगी कटौती

हालांकि इस बात की कोई स्पष्टता नहीं है कि वेतन में कटौती कब तक लागू रहेगी, सिवाय इसके कि मार्च के वेतन का भुगतान अप्रैल में किया जाएगा।

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UK Mission In India Gets Ready To Evacuate Britons Stuck Amid Lockdown

The United Kingdom mission in New Delhi on Tuesday asked its nationals stranded in India amid coronavirus lockdown to send their details as London announced worldwide flight package to evacuate...

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Corona World LIVE: अमेरिका के बाद इटली में संक्रमितों की संख्या एक लाख के पार, 37000 से अधिक मौतें

वैश्विक महामारी कोरोना वायरस की वजह से पूरी दुनिया में त्राहिमाम कर रही है। इस जानलेवा वायरस की वजह से दुनियाभर में अब तक साढ़े सात लाख से अधिक लोग संक्रमित हो चुके हैं, वहीं इससे अब तक 37 हजार से अधिक लोगों की जान जा चुकी है।

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विजय माल्या का ट्वीट- सारा पैसा लौटाना चाहता हूं, बैंक-ईडी नहीं कर रहे मदद

माल्या ने कहा कि पैसे चुकाने के उनके बार-बार प्रस्ताव के बावजूद बैंक पैसे लेने में कोई दिलचस्पी नहीं दिखा रहे हैं।

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Coronavirus India Live: कोरोना के एक दिन में सबसे ज्यादा मामले, मृतकों की संख्या 32 हुई

वैश्विक महामारी कोरोना वायरस की वजह से देश में लगातार संक्रमितों की संख्या बढ़ रही है। सोमवार को यह संख्या बढ़कर 1250 से ज्यादा हो गई है। वहीं अब तक 32 लोगों की मौत हो चुकी है। देश में सबसे ज्यादा प्रभावित राज्य महाराष्ट्र और केरल हैं।

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Virus May Cut China's Growth Rate By Half: World Bank

The coronavirus pandemic's economic fallout could cause China's growth to come to a standstill while driving 11 million more people in East Asia into poverty, the World Bank warned Monday.

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"While You May Not See Us Here...": Prince Harry, Meghan End Royal Roles

Prince Harry and his American wife Meghan posted their last message as working members of Britain's royal family on Monday before officially embarking on new careers without their "Royal Highness"...

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Covid-19 battle: Restrictions on drug export may be lifted

Mumbai: The government is likely to lift export restrictions on certain antibiotics and anti-diarrheal drugs as China’s Hubei province, a major hub for bulk drugs production which was under weeks of lockdown following the Covid-19 virus outbreak, is slowly getting back to normal.The country, which depends hugely on China for bulk drugs, had in February restricted exports because of the pandemic.Out of 13 drugs whose exports were restricted, the government is likely to lift the ban on five including paracetamol, tinidazole, metronidazole, ornidazole, and azithromycin, people in the know of the matter said.The government is thinking of removing the restrictions following the recommendations of an empowered group headed by National Pharmaceutical Pricing Authority chairperson Shubha Singh.The Active Pharmaceutical Ingredients (APIs) and formulations put under export restrictions included antibiotics such as chloramphenicol, neomycin, metronidazole, Vitamins B1, B12, B6 and the hormone progesterone, among others.“Keeping in view that India has enough stock, now that the supply has started from Hubei, government is contemplating reversing its decision from five such drugs,” a person aware of the matter told ET.India imports bulk drugs from China to manufacture antibiotics and then exports finished products to other nations.Bulk drugs or APIs needed to manufacture antibiotics like metronidazole, chloramphenicol and azithromycin, apart from Vitamin B6, are imported from Hubei province, whose capital Wuhan was the epicentre of the outbreak.Hubei is also rich in minerals and India also imports borax, copper, gypsum, rock salt, coal, magnesium from the province.China’s decision to quarantine more than 45 million people stopped the import of the key raw materials.

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Covid-19 in India: Banks wary of liquidity crunch

Mumbai: How many borrowers will use the moratorium on loans? It’s a key question that many banks are grappling with.Some lenders, particularly private sector institutions, fear that if a large number of borrowers refuse to service loans, Reserve Bank of India’s measures to soften the blow from Covid-19 could fall short of requirement. In such a situation the moratorium on interest and loan repayment will more than offset the benefits of extra liquidity.Faced with such a situation, these banks would be reluctant to extend the moratorium to certain categories of borrowers such as government employees whose salaries have not been impacted or large companies with the wherewithal to tide over the crisis.Last week, the monetary authority lowered cash reserve ratio (CRR) — the slice of customer deposits banks set aside as cash with the regulator — by one percentage point, and raised the accommodation under marginal standing facility (MSF), under which banks borrow from RBI against government securities.Concerns for Banks with High Credit-Deposit Ratio“If 50% or more borrowers opt for moratorium, then the additional liquidity made available through the RBI measures could be less than the amount that banks would not receive as interest payments and principal repayments from borrowers during the three-month moratorium. Since these banks will have to continue to pay depositors the interest and maturity amounts, such a situation could actually worsen the liquidity position of banks,” a senior banker told ET.According to industry sources, banks have discussed the matter among themselves over the past few days. “This is an issue which concerns banks with high credit-deposit (CD) ratio... Under such circumstances, the central bank will have to consider opening a general line of credit to banks,” said another banker.Consider a bank with a net demand and liabilities (or net deposits) of Rs 10 lakh crore and loan book of Rs 6 lakh crore. The CRR cut and MSF flexibility will release Rs 20,000 crore liquidity for the bank. Suppose the moratorium becomes effective on 50% of the loans having an average yield of 12% and average tenor of 5 years. A three per cent delay in interest (for the three months) would mean deferred interest inflow of Rs 10,500 crore. Along with the postponement in payment of loan principal, the bank’s receipt of interest and principal on loans would be well over Rs 20,000 crore. This could cause a liquidity crunch for the bank and impact its ability to lend.After June, the bank may either raise the loan EMI or extend the tenor of the loan. This would depend on whether the borrower has the capacity to afford higher EMIs or is in a position to repay the loan over a longer tenor. According to an industry person, in case of stress loans which are yet to be categorised as non-performing assets, banks will consult RBI on the treatment of these `special mention assets’ and whether to stop applying interest on such loans or recovering instalments (known as freezing the clock in banking parlance).

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Covid-19: No outsourcing for these business processes management companies

Bengaluru: Business process management companies that handle critical functions for some of the world’s largest corporations are being forced to halt large chunks of their operations in India, as the country nears the second week of a nationwide lockdown to stem the tide of Covid-19 infections.Client protocol that disallows transfer to a work-from-home mode coupled with employees’ inability to commute to office is leading to large-scale stoppages, said company executives.“A significant portion of the work also requires employees to access private customer data, this cannot be shifted,” said an executive with a US-listed BPM company. “About 50% work has stopped,” the person said. The work that is most impacted is voice-based, with transaction and platform processes less affected.The $38 billion Indian BPO industry, which includes Genpact, Concentrix and EXL Service, has in the last two years grown faster than the larger Indian IT services industry. But the current shutdown that has affected locations both across India and the Philippines is severely restricting companies’ ability to fully service clients, executives said.74904131 Last week, EXL Service, which services insurance and travel clients and employs over 10,000 people in India, withdrew its 2020 guidance citing the impact of the Covid-19 pandemic.Concentrix, the $1.2 billion BPO arm of US IT distribution company Synnex, fears more employees will be impacted as further restrictions come into force.Significant ChallengesThe company employs over 60,000 people in India.Synnex suspended the practice of issuing quarterly guidance last week.“Of the 150,000 staff in restricted movement locations, approximately 70,000 are unable to work currently,” Chris Caldwell, president of Concentrix, told analysts last week. Its workforce is both in India and the Philippines, another large delivery market, which has also implemented a lockdown. “As governments continue to refine strategy to deal with the Covid-19 virus, our expectations are further restrictions will be put in place affecting many more of our staff,” Caldwell said.Genpact, one of the largest BPM companies, told the US SEC earlier this month, that it was uncertain about the impact that Covid-19 would have on its business. The company has warned it faces significant risks from a shutdown in India. It added that this could result in revenue losses and inadvertent breaches of client contracts if many employees, or a group of employees in the same service line or who serve the same clients, were unable to work at the same time.Back-office firms located in India service airlines such as British Airways and KLM, banks such as Bank of America and Citi and industrial giants such as GE and Caterpillar."Today, almost 70-80% of the BPM industry’s workforce is working from home – possibly the largest work-from-home scale project anywhere,” said a spokesperson for National Association of Software and Service Companies (Nasscom) in an email response. “The mission critical workforce who are executing functions that are required from offices are getting special passes to come to office."India and the Philippines are the two most critical markets when it comes to the BPM sector. In both regions, the industry is running mission critical services and ensuring customer centricity through the continuity of business functions, said the industry body.Experts are of the view that the Indian BPO industry faces significant challenges in the short and medium term due to the Covid-19 related restrictions.“They have to operate on an immediate short-term footing to keep the lights on for enterprise clients,” Phil Fersht, CEO of IT consultancy HfS Research said.Last week, the ministry of electronics and information technology (MeitY) classified the IT and BPO industry that supports government, health services and financial industries as essential services."The ministry has received representations/suggestions from various IT/ITeS industry associations requesting to bring about uniformity across India, through a suitable advisory, with regard to essential functions that are undertaken by the IT-ITeS industry amidst the Corona epidemic related restrictions," MeitY said in the notification.Analysts say companies face challenges in organising thousands of computers and internet connections to employees at short notice, impacting work.“Some companies have clauses in emergency that some work can move back to the client side, and other clauses. But there is a challenge in doing remote work at scale. Companies that have made headway with chatbots and automation will be able to manage this better,” Mrinal Rai, principal analyst at consultancy ISG, said.

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कोरोना की रिपोर्टिंग कर रहे मीडिया कर्मियों के लिए बीमा की मांग, हाईकोर्ट में याचिका दायर

कोरोना वायरस महामारी के दौरान रिपोर्टिंग कर रहे मीडिया कर्मियों के लिए स्वास्थ्य बीमा और जीवन बीमा मुहैय्या करवाने की मांग वाली याचिका सोमवार को हाईकोर्ट दायर की गई।

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अमेरिका में मलेरिया की दवा के सीमित इस्तेमाल को मंजूरी, न्यूयॉर्क में कोविड-19 रोगियों पर हो रही उपयोग

आगामी दो सप्ताह में देश के भीतर कोरोना वायरस का प्रकोप बढ़ने की आशंका को देखते हुए अमेरिकी खाद्य व औषधि प्रशासन (एफडीए) ने मरीजों के इलाज को आपात स्थिति में हाइड्रोक्सीक्लोरोक्वीन के सीमित इस्तेमाल की मंजूरी दे दी है।

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Man Tries To Teach Dog How To Drive Car, Arrested After High-Speed Chase

A resident of the western US state of Washington was arrested following a high-speed chase that left officers dumbfounded after they found the man's pit bull behind the wheel.

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Covid-19: Labour-driven export sectors run for cover

New Delhi | Kolkata: The country’s labour-intensive export sectors such as leather, textiles, gems and jewellery, carpets and handicrafts have borne the brunt of the Covid-19 pandemic with orders getting cancelled, shipments delayed indefinitely, payments missed and consignments stuck at ports.According to sectoral estimates, about ₹7,600 crore of leather export orders have been cancelled, ₹2,000 crore carpet orders are stuck and handicraft sector losses are seen at ₹8,000 crore.“Around 30% of orders of labour-intensive sectors have got cancelled,” said Ajay Sahai, director general of the Federation of Indian Export Organisations (FIEO).The issues are set to be discussed at a meeting that commerce and industry minister Piyush Goyal will hold with the various export promotion councils on Tuesday.74903950 India’s exports contracted 1.5% to $292.9 billion in the 11 months to February 2020. The decline is likely to be much sharper going ahead.Cancellation of Trade FairsExport orders worth $1 billion were cancelled in the past 10 days and many customers have stopped payments, said Council for Leather Exports chairman Aqeel Ahmed Panaruna.“Customers are not paying invoices and all new orders are cancelled. Our American clients are not taking products that are ready for them,” Panaruna said.India’s Rs 12,000 crore carpet industry is also in distress with orders worth Rs 2,000 crore stuck and besides it’s running short of workers due to the lockdown.“We do 40% of our business in the January-March period. The lockdown will have long-term consequences,” said Siddh Nath Singh, chairman, Carpet Export Promotion Council. The handloom, handicraft, carpet and cottage sectors employ around two million people. India’s gems and jewellery exports fell 19% in February and are estimated to decline 12% in FY20 to $35.85 billion on year, according to the Gem & Jewellery Export Promotion Council (GJEPC).“In February, when the deadly virus spread in China, Hong Kong and Far East, gems and jewellery exports had plunged by 19.37% in comparison to February 2019,” said Colin Shah, vice chairman, GJEPC, and a leading diamond exporter. “But the situation worsened in March when it spread to Europe and the US.”Cancellation of key trade fairs in the US, Hong Kong and Jaipur also impacted the jewellery business.According to a Delhi-based exporter of garments, around 70% of orders have been postponed or cancelled and since this is a season-dependent sector, apparel meant for export will likely go waste.The handicraft industry fears closure of 60-80% of units in three months if the situation doesn’t improve as buyers are not paying, have cancelled orders already under production or are taking advantage of the situation by negotiating for discounts. “An initial estimate of the impact that the handicraft sector may suffer in wake of the existing crisis is approximately Rs 8,000-10,000 crore,” said Export Promotion Council for Handicrafts (EPCH) director general Rakesh Kumar.Exporters have sought an increase in pre and post-shipment credit duration to 180 days from 90 days now, besides getting international couriers to function, as sending documents has become a challenge given that all flights have been halted.“It is suggested that banks should be advised not to levy any charges on the exporters while cancelling forward contracts in those cases where the export orders are cancelled by the overseas buyers,” textile exporters have written to Goyal.Cancellation of forward contracts involves costs that the banks get from exporters.Exporters want the government to provide freight subsidies for goods that are brought back to the country, compensation in some form if items have to be abandoned or if discounts have to be given to buyers. They have also asked for a delay in declaring loans as non-performing assets for a year owing to the lack of business coupled with fixed costs.

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Delhi Lt Governor Orders Action Against Officials For Violating Lockdown

Delhi Lt Governor Anil Baijal today gave directions for strict action against district magistrates (DM) and deputy commissioners of police (DCP) for any violation of the ongoing 21-day lockdown in...

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Privacy Rights May Become Next Victim Of Killer COVID-19 Pandemic

Digital surveillance and smartphone technology may prove helpful in containing the coronavirus pandemic - but some activists fear this could mean lasting harm to privacy and digital rights.

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कोरोना की चुनौती : देश में 1200 पार हुई मरीजों की संख्या, एक दिन में 227 और मरीज, सात की मौत

देश में कोरोना संक्रमण की चपेट में आने वालाें की संख्या बढ़ती ही जा रही है। सोमवार को संक्रमितों की संख्या 1200 के पार पहुंच गई। स्वास्थ्य मंत्रालय के अनुसार बीते 24 घंटे में 227 नए मरीज आए।

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Over Rs 600 Crore Deposited In Bank Accounts Of 27.15 Lakh UP Workers

In a big relief to workers under the rural employment scheme (MNREGA) in Uttar Pradesh during the nation-wide lockdown, Chief Minister Yogi Adityanath said on Monday that Rs 611 crore has been...

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इटली से ग्राउंड रिपोर्ट : घरेलू हिंसा के मुकदमे बढ़े, पीएम ने कहा- लंबे लॉकडाउन के लिए तैयार रहें

इटली में महीने भर से लॉकडाउन के कारण लोग घरों में रहने के लिए बाध्य हैं और यह स्थिति घरेलू हिंसा में बढ़ोतरी की वजह बनती जा रही है।

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उत्तर प्रदेश में कोरोना के 15 नए मरीज मिले, तीन हुए ठीक, 96 पहुंची कुल संख्या

नोवेल कोराना वायरस के प्रकोप के बीच सोमवार को एक अच्छी खबर आई। पहले से अस्पतालों में भर्ती तीन पॉजिटिव मरीज पूरी तरह से स्वस्थ होने के कारण डिस्चार्ज कर दिए गए। इनमें से दो नोएडा और एक आगरा का मरीज है।

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कोरोना से चिंता: शीर्ष कोर्ट ने पलायन पर मांगी रिपोर्ट, केंद्र ने कहा- लॉकडाउन बढ़ाने की योजना नहीं

लॉकडाउन के चलते प्रवासी मजदूरों के पलायन पर दायर याचिका पर सोमवार को सुप्रीम कोर्ट ने सुनवाई की और केंद्र सरकार से रिपोर्ट मांगी है। वहीं केंद्र सरकार ने कहा है कि देश में लागू लॉकडाउन को बढ़ाने की अभी उसकी कोई योजना नहीं है।

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कोरोना: देश में दूसरा ही चरण... तीसरा आया तो होगा अनर्थ, एक आदमी की भी चूक पड़ सकती है भारी

कोरोना वायरस के फैलाव को देखते हुए केंद्र सरकार ने सोमवार को चेतावनी देते हुए कहा है कि इस वक्त एक भी चूक देश के लिए भारी पड़ सकती है। 

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अमेरिका में कोरोना से 2,400 लोगों की मौत, ट्रंप ने 30 अप्रैल तक बढ़ाई सोशल डिस्टेंसिंग

अमेरिका में अब तक इस संक्रमण की चपेट में आने वाले लोगों की संख्या एक लाख 37 हजार से ज्यादा हो चुकी है।

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छत्तीसगढ़: विधायक निवास के बाहर राशन लेने भीड़ उमड़ी, कांग्रेस एमएलए के खिलाफ मामला दर्ज

कोरोनोवायरस के प्रसार को रोकने के लिए मुख्यमंत्री भूपेश बघेल के नेतृत्व वाली सरकार ने राज्य में धारा 144 लगाई हुई है।

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Coronavirus: Relief package for the poor via DBT may face hurdles

Mumbai: The government’s relief package for those hit the worst by the Covid-19 lockdown will need to quickly overcome operational and logistical hurdles in order to be effective, as it involves the direct transfer of such handouts through Aadhaar-linked bank accounts.The finance ministry said ₹1.75 lakh crore will be given to “80 crore poorest Indians” under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) over three months starting April 1.Participants in the direct benefit transfer (DBT) architecture such as banks, ATM operators, Bank Mitras and fintech companies running payment systems aren’t sure if the process will function seamlessly.Challenges include having adequate cash in ATMs, operational efficiency of the Aadhaar-enabled Payment System (AePS) at scale and the negligible digital payment acceptance infrastructure in rural areas, where there aren’t too many cash machines in any case, they said. A significant number of people still don’t have bank accounts and many of those that do haven’t linked them with Aadhaar.Constraints Faced by Bank MitrasThere are an estimated 1.1 billion operational bank accounts, of which 800 million have been seeded with Aadhaar.“The low acceptance of digital payments is definitely a challenge in rural areas,” according to State Bank of India (SBI) chairman Rajnish Kumar.“It is however an awareness and habit issue as well. We are urging all our customers to use digital means to transact as much as possible.”The DBT model depends on the JAM (Jan Dhan-Aadhaar-Mobile) architecture to directly remit government-sanctioned welfare funds to beneficiary bank accounts. That raises questions about how relief funds will be given to those without bank accounts, especially migrant workers.Of the 230,000 ATMs in the country, only 45,000 are in rural areas, as per Reserve Bank of India (RBI) data.“Cash for white-label ATMs is normally sourced from local bank branches but with the low inflow of cash to bank branches in these areas due to reduced commerce, we are now facing cash shortages resulting in a number of ATMs being unavailable to the needy,” said Rustom Irani, MD and CEO of cash business, Hitachi Payment Services, which maintains cash machines in India.74880932 CASH CONCERNSInadequate supply could lead to a dash for cash in an economy where over 90% of combined rural and urban retail spends are still made with paper money, said a stakeholder.“An immediate concern is transfer of foodstock from rural to urban areas where almost the entire logistics is driven by cash,” said the person.Restrictions on movement mean that regular maintenance of ATMs becomes difficult, making them prone to malfunction.“There are on-ground challenges related to the concerned staff not being able to commute and render their work owing to fear and confusion,” said Ravi Goyal, chairman of AGS Transact, an ATM service provider for banks.Under these circumstances, much of the burden for conversion of relief funds to currency notes for the urban and rural poor may fall upon the country’s estimated 1 million Bank Mitras or outsourced banking agents. Several concerns on the operation of these agents have also come to fore.“Only 30% of our Bank Mitras have been able to ply due to travel restrictions imposed by local area authorities despite their services being classified as essential by the government,” said Seema Prem, CEO of FIA technology, a financial inclusion service.Furthermore, these agents, who also act as micro ATM points, allowing rural customers to withdraw cash through the AePS, don’t have enough currency notes due to the halt in economic activity. Some are using previous experience as a guide.“We are treating our experiences during demonetisation as a preparation for coronavirus,” said Anand Bajaj, CEO PayNearby, a leading AePS facilitator.The sudden spike in transaction traffic owing to DBT withdrawals may also put pressure on the AePS infrastructure, where failure rates are higher than other digital payment channels. Transaction failures in AePS in some zones are as high as 45%, said a person with knowledge of the matter.“In the absence of any directions from the finance ministry, it would require coordinated efforts of the entire banking and payments ecosystem to reach out to these unbanked citizens for transfer of relief funds,” said a top official wishing not to be named.

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With no light at the end of the Street, indices unlikely to hold on to gains

Mumbai: The 14% bounce in Indian stock indices in the last four sessions could face hurdles in the days ahead amid rising cases of coronavirus in India and elsewhere. Analysts expect the Nifty to fall back below 8,000 levels and even touch 7,500, as the global economy faces its worst phase since the global financial crisis of 2008-09. The Nifty ended up 0.2% at 8,660 on Friday and the Sensex ended down 0.4% at 29,815.Overseas investors have reduced their selling of stocks over the past two trading sessions, which have soothed nerves, but various indicators are still not giving market participants the comfort to assume that the worst is over. FPIs are still holding their short positions after the March series expiry which saw the Nifty logging its worst series decline since 2008. For the stock market to keep the positive momentum going, the Nifty has to cross 9,000."Unless we go above 9,000, it will go down again. 9,000 level is 38% retracement from the previous sell-off. Failure to cross 9,000 would mean it would head back to 7,500 or a lower range,” said Rohit Srivastava, founder, Indiacharts.Options data show highest open interest among Nifty call options at 9,000 strike in the April series; while among put options, the 7,500 strike holds the highest open interest.Rajesh Palviya, head-technical and derivatives research at Axis Securities, says it remains to be seen if FIIs continue to be net buyers after Friday. “Until we cross 9,200, we cannot say bottom is made. If things worsen on the coronavirus front, we can again go to 7,500."On Friday, the Reserve Bank of India joined global central banks in easing monetary policy, slashing interest rates by 75 basis points and pumping additional liquidity into the banking system to cushion the financial system from the downturn caused by the pandemic. The government earlier announced a relief package to help the poor on Thursday. Investors think rate cuts alone will not help and are rooting for a stimulus by the government for the industry, which has been devastated by the 21-day lockdown."Although the government’s Rs 1.7 trillion package (0.83% of GDP) addressess some of the most basic issues, it pales in comparison with both the scale of the problem and what is being done by other countries. Among the various measures announced, some do not bear much incremental cost to the government and also have little impact in terms of creating a stimulus," said Emkay Global in a note. Moreover, the moratorium will defer but not remove the asset quality risk for banks, said Emkay.Brokerage reports following the announcement of 21-day lockdown also indicate that the worst is not yet over. Many are expecting the lockdown to be extended further."Markets will remain volatile as the economic impact of the lockdown will be severe while stimulus packages will help to contain the damage. How long the closure of businesses are done needs to be seen," said Rajat Rajgarhia, CEO, Motilal Oswal Institutional Equities.“These are unprecedented events - every macro-economic parameter is all over the place for next 1-2 quarters... A clear downtrend in the Covid-19 cases are critical for markets to have an uptrend," said Rajgarhia.

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China Defends Against Incoming Second Wave Of Coronavirus

A growing number of imported coronavirus cases in China risked fanning a second wave of infections when domestic transmissions had "basically been stopped", a senior health official said on Sunday,...

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West Bengal Government Starts Selling Fish Online Amid Lockdown

People living in Kolkata will now be able to order raw fish online as the West Bengal government launched an app to tackle rising prices amid the nationwide lockdown imposed in the wake of the...

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Country Music Star Joe Diffie Dies Of Coronavirus

Joe Diffie, a Grammy award-winning country music singer who had several chart-topping hits in the 1990s, has died of coronavirus. He was 61.

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Pregnant Woman Turned Back By Delhi Cops As Migrants Struggle To Get Home

A 20-year-old woman from Uttar Pradesh's Mahoba district - who is a migrant worker living in Delhi and is nine months pregnant - was forced to return home by the police despite walking five kilometres...

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PM Daily Interacting With Over 200 People To Get Updates On Coronavirus

Prime Minister Narendra Modi interacts with over 200 people on a daily basis to get a first-hand feedback on India's fight against the coronavirus, the Prime Minister's Office (PMO) said on Sunday.

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India scrambles to avoid a viral nightmare

NEW DELHI: The Centre is identifying emerging “hotspots” of Covid-19 infection and employing a rigorous cluster containment strategy which involves demarcating an area of 3 kilometre radius around epicentre, a buffer zone of additional 5 kilometre radius and ensuring all quarantine protocols are followed here.The health ministry is studying data and identifying probable hotspots of Covid-19 which need to be better monitored so that the infection does not spread. Joint secretary (health) Lav Agarwal said, “We are studying emerging hot spots and these are being identified after which a rigorous containment policy is being followed.” The number of confirmed cases at 4 pm on Sunday had increased to 979 with 25 deaths. Over the last 24 hours, 106 new positive cases and six deaths from different states have been reported. 74879471 The rigorous containment strategy or the micro plan for containing local transmission involves first identifying the house of a Covid-19 positive patient and then tracing contact list and mapping all of them. In a scenario where this is taking time, the protocol is to demarcate an area of 3 kilometre radius as the epicentre. This epicentre would be the containment zone which would be sealed. All residents within this area would be asked to stay indoors and sanitisation would take place. Health workers in surveillance teams would be asked to go doorto-door and seek details such as number of people in a house, their age, gender and their health status, including any underlying conditions. A daily check would be kept on these. A 5 kilometre radius buffer zone would also be demarcated.The strategy to identify containment zones has been evolved after areas like Bhilwara have emerged as pockets showing quick spread of infection. The containment plan would involve the last-mile health worker in identifying such clusters, house-to-house visits, keeping a track of active cases and their contacts, maintaining a list of suspected cases and their contacts and ensuring all protocols of home quarantine are followed. Every health worker should be set a target of 50 houses in a day. Agarwal said, “The reason behind following this containment policy is to ensure that if there is any suspected case we quarantine them and if he develops symptoms proper medical treatment is given at the right time.” Secretary (health) Preeti Sudan took a meeting with state health secretaries on Sunday and took stock of isolation and quarantine facilities. The Centre has directed the states that there should not be any cohorting of infected patients with non -Covid patients.

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The guide to surviving a coronavirus crash

While the country has gone into a lockdown to halt the march of the Covid-19 virus, the stock market crash triggered by the global panic may be good news for long-term investors. Valuations have crashed and could fall further over recession fears. Narendra Nathan tells investors what they should do in these circumstances.There might be a silver lining to this once in a decade crashDespite short-term pains, the crash is a good accumulation opportunity for long-term investors. Previous crashes have wiped out more than 50% of the Sensex value. 74862245 Sensex PE is below long term averageWith Sensex PE close to 10-year lows, start buying in staggered manner. 74862257 Warning: Trailing PE have touched lower levels in previous bear markets over fears of fall in future earnings.Dividend yield is a good valuation toolDividend yield is at reasonable levels, another nudge to start buying. 74862266 It makes sense to buy cheapSince we are already in fair valuation zone, investors can start buying. 74862283 10-year Sensex CAGR is at 15-year lowA very low 10-year CAGR indicates that investors can start buying slowly. 74862291 Sensex dividend yield is close to 10-year highStart buying slowly and hike investments if the dividend yield goes up further. 74862295 Warning: Companies may cut dividends in coming year and dividend yield may fall again in futureHistorical low returns can be good newsHistorical 10-year CAGR turned negative only once in 2002-03. Any fall from current levels should be used to buy more as it may mean good future returns. 74862307

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Power units get 90-day waiver from advance freight, coal payments

New Delhi: Power plants have been exempted from advance coal and freight payments for three months, which will prevent supply disruption during the lockdown and give a major relief to generating firms, particularly in the private sector.A senior ministry official said the short-term dispensation was requested by private power companies that constitute 35% of Indian electricity generation base as they cited cash crunch due to non-payment by discoms. State and central generating companies including NTPC also face the problems but the power ministry on Friday directed them to supply electricity to even defaulting state electricity distribution companies through a three- month moratorium.The official said power minister R K Singh has written to coal minister Pralhad Joshi and railways minister Piyush Goyal seeking the exemption for three months to maintain electricity supply as the country remains in lockdown till April 14. The Reserve Bank has allowed financial institutions to give a moratorium of three months on repayment of loans, however Covid-19 poses a challenge in terms of recovery of dues from state electricity distribution companies.A coal ministry official said the power ministry’s demand was being evaluated though with Rs 14,000 crore outstanding receivables from state run power projects, Coal India is stretched for funds. “Realisations from them are likely to be long-drawn under the present challenging times,” he said. A railway ministry official said they were yet to receive communication from the power ministry.ET reported on March 24 that Covid-19 is expected to have a major impact on India’s power sector with distribution companies halting payments to generation companies as states electricity departments are not taking coercive actions to recover bills from consumers. Recovery of electricity dues by state discoms takes place in a big way in March every year.According to the Praapti portal of the Union power ministry, the outstanding amount of discoms stands at Rs 86,931 crore, of which Rs 76,063 crore is overdue.

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Coronavirus impact: Ecommerce operations resume but deliveries may move in slow lane

Bengaluru: India’s top online grocers and e-retailers said they have restored operations in larger cities but are still hobbled by the massive backlog of orders and shortage of workers triggered by the ongoing nationwide lockdown to stem the tide of Covid-19.E-grocers BigBasket and Grofers, ecommerce firms Amazon and Flipkart, as well as B2B platforms Jumbotail and Udaan cautioned consumers and kirana stores to expect delayed deliveries as they deal with operational upheaval caused by the restriction on manufacturing and movement of goods, and people.“Our people count is improving day by day...but it is still not enough. We should clear up most slots by Tuesday, Wednesday,” said Hari Menon, chief executive of BigBasket, which is now delivering orders in all top cities including Delhi, Mumbai, and Bengaluru. However, due to a backlog in orders and some operational issues the company is selectively opening new slots, he said.Gurugram-based Grofers, which was unable to operate in several cities for a few days, following the announcement of the lockdown, has begun operations at 90% of its warehouses with half its delivery partners equipped with all relevant official permissions.74880853 Improved SuppliesFor customers there will be “longer delivery times,” Rohit Sharma, head of supply chain at Grofers, told ET.As factories closed and trucking companies faced stoppages at state borders, deliveries to consumers — both online and at offline stores — have been delayed, company executives said.B2B technology platforms like Jumbotail and Udaan are of the view that the disruption will settle in a few days as policymakers and businesses collaborate.To ease this situation, the ministry of home affairs in its revised guidelines on Sunday said that transportation of all goods, and not just essential goods would be allowed.Ecommerce firms welcomed the change, saying it would allow for faster movement of essential goods and let them bring non-essentials stuck in transit safely into their warehouses.An ongoing consumer survey by community platform LocalCircles on the availability of essential goods through both offline and online stores shows a gradual improvement in the last two days.Shortages of essentials were most severe on March 25 and 26, the survey showed, with perceptible improvement in availability at both kiranas, offline stores and online retailers during March 27 and 28.SMALL STORES OPEN“Keeping the small format retail store opened 24/7 is the key to ensure that everyone gets enough essential supply. Today about 50-70% of them are open but not all the time,” said Ashish Jhina, cofounder of Jumbotail.Ecommerce companies also continue to service orders for essentials, but delivery timelines remain stretched.“We continue to resume services gradually, adding in more cities as we get the necessary clearances and passes from the local authorities. We are first serving existing orders for essential products and accepting new orders for these items only,” an Amazon spokesperson told ET.A senior executive at a leading ecommerce firm said while inter-state truck movement had begun, companies are facing challenges of managing stock within fulfilment centres.“The bottleneck will move from trucks to fulfilment centres. It’s not ideal, but the government has been supportive, and we are slowly limping back,” the person said. “I won’t say back to normal, I don’t think it’ll get back to normal during this time, but things are certainly moving.”Snapdeal, Paytm Mall and Shopclues are also delivering essentials. “We have started intracity deliveries of food and grocery items in Delhi-NCR, including in Gurugram,” a Snapdeal spokesperson said.

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Investment downcycle coming, EMs face recession: Jim Walker

What is your outlook for emerging markets?I expect a recession in nearly all of them. The export side in EMs will be particularly weak but, like the developed countries, their corporate profits are being hard-hit. When profits go down, companies take extreme efforts to shore up their balance sheets by squeezing inventories, firing workers and slashing investment. It is the investment downcycle that causes recession. That is what is coming for most of us.How challenging will it be for the Indian government to pull the economy out of the downturn?India is one of the least exportdependent emerging markets and one of the most benefited by a fall in the oil price. Those two factors will help mitigate the effects of global downturn. However, the domestic economy was weak already and we see no sign that the government has really understood the nature of the economic problems facing India. Sub-3% growth is highly likely and it’s quite possible that it could worsen in 2020 at least.Markets have reacted rather indifferently to the fresh stimulus by the Fed. Just a month ago, it was the Fed’s liquidity that was driving stock prices. What is the market telling us?The Fed stimulus has now been joined by the BOE, the ECB and government efforts around the world and still equities are falling. The plain message is that this is not a simple financial crisis that can be addressed by splashing money all over the economy and further reducing interest rates to levels that cause as much damage as good. The real economic effects of the Covid-19 virus are just beginning to be understood and a global recession is all but guaranteed as company profits crash and this moves through the economic system in the form of much lower investments, reduced production, soaring unemployment and reduced levels of consumption (partly financial and partly repressed by lockdown policies). Markets will be volatile with a downward bias for some time to come. Do you think the stimulus measures by governments and the global central banks can avert a recession?No. They can help mitigate a recession over the coming two years but there is no prospect of them stopping one when company profitability has been shaken to the core.There seems to be stress in the US credit markets. Do you see a repeat of the situation in 2008-09?The central bank will do all it can to ease credit market conditions and, like 2008-09, will break the law and existing regulations to do so. It will end up buying paper that it has no legal right to buy but will be forgiven by government because it is a crisis. The real crisis lies at the heart of economic policy-making where all of the meddling in market functions over the last decade in particular have left economies in the developed countries in no shape to take any external shock to the system. We will eventually emerge on the other side of this crisis but the costs of further economic zombification and capital misallocation will be great.What will be the impact of supply-side disruptions on the dynamics in the global economy? How long do you expect the after-effects to last?That is a hard question to answer at this stage. Because of its activityreducing effects, this crisis is both a demand and supply shock. However, if we look to the Asian Crisis (1997) for a roadmap, which is much more relevant than the 2008 financial crisis that spilled over to the real economy for a short time, then the next two years will be particularly rough with global GDP likely to be contracting in 2020 and 2021. Very few economies will be spared although China has the wherewithal and deployment mechanisms to rebound quicker than most others.Are low oil prices here to stay?Probably not. The demise of the oil price has been predicted many times in the past and I suspect this time is no different. Geopolitical goals seem to be playing a part among the producers. Saudi is attacking a weak Iran while Russia is trying to get one over on the US shale industry. But eventually oil producers all aim for one thing, a higher price. Oil demand should keep the price weak for the rest of 2020 but we would expect oil prices to rise again in 2021, back to the US$50-80/barrel range.Is the best phase for gold over?Gold might recover some lustre in the next phase of this crisis because the government will be adding money direct to the economy this time rather than to the financial system which is why asset prices inflated after 2009, not consumer prices. This time the inflation is likely to be much more widespread, which is good news for gold. We would be accumulating slowly at the moment although gold mining stocks probably offer the best value.

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Covid lockdown: Smartphone makers ping government for essentials tag

Bengaluru: Top-selling smartphone manufacturers like Xiaomi and Realme are asking the government to classify handsets as an essential commodity which can be delivered to customers through ecommerce platforms amid the 21-day national lockdown in India.Industry bodies Manufacturers’ Association of Information Technology (MAIT) and India Cellular & Electronics Association (ICEA) have written to the government seeking concessions in the delivery of smartphones among other electronics devices and removal of restrictions on the movement of components for inland and export purposes.“Smartphones today are probably the most essential items after food and groceries that anybody needs,” Manu Kumar Jain, the managing director-Indian subcontinent at Xiaomi, told ET. “We can increase social distancing and reduce the number of people going out if everyone is using a smartphone.” Jain said India saw sales of over 1 crore devices a month, with close to 30-40% of those purchases made by first-time smartphone users. It would make sense for even a fraction of those people to get access to devices at this point of time. Xiaomi clarified that it wasn’t just asking the government to allow smartphone sales as a business opportunity, but rather as fulfilling the essential needs of consumers.Realme chief executive Madhav Sheth said smartphones were essential and a gateway to other services that could be invaluable at this point of time. The company could make its devices available to customers immediately through online channels and was also requesting the government to allow opening up of some centres to support after-sales service, with all safety precautions being followed, he said. “We’re seeing a lot of requests on Twitter from people who say their phones have been damaged and need devices because they’re using them as Wi-Fi hotspots and for communications.” In its letter dated March 27 to the government, MAIT, the apex body of electronic product makers, suggested that ecommerce companies be listed under essential services and enabled to carry out deliveries under a controlled logistics framework. The ICEA wrote to the government saying that states and district authorities were being overcautious by not allowing inbound or outbound movement of electronics goods, despite the home ministry’s clarification over this. Both bodies said electronics manufacturers were sitting on large inventories meant for export and not allowing movement would jeopardise their ability to fulfil such shipments. ET has seen the letters written by both MAIT and ICEA.The ecommerce industry as a collective had also pitched to the government to expand the scope of essentials beyond food, grocery and medical supplies.

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NBFCs want banks to pass on moratorium benefits

MUMBAI: Non-bank lenders, concerned about the ‘discretion’ banks would enjoy on demanding repayments through a three-month grace period, plan to approach the finance ministry and the Reserve Bank of India (RBI) on directing banks to mandatorily pass on the benefits of the moratorium to these last-mile financiers.“The core point is that while NBFCs (non-banking financial companies) will have to give a three-month moratorium to almost all their borrowers, what is the assurance that they will also get commensurate moratorium from their lenders?” asked Raman Agarwal, co-chairman, Finance Industry Development Council, an industry body representing NBFCs. “We are presenting our case to the RBI and the Ministry of Finance for urgent redressal of our concerns.”Last week, the central bank sought to cushion both borrowers and lenders against the unprecedented disruption engendered by the Covid-19 outbreak, allowing companies a three-month grace period on loan repayments. Banks will now have the discretion in deciding the limits on working capital, with Mint Road saying that no payment miss be considered a default and reported to credit information companies.The class of borrowers that NBFCs cater to has been the worst hit due to the 21-day national lockdown. People owning auto rickshaws, tempos, e-rickshaws, small shopkeepers and the micro, small and medium enterprises have already expressed their inability to repay, and most small and mid-sized non-bank lenders that cater to such clientele will have to extend them the moratorium benefits. NBFCs are also seeking a similar 90-day moratorium on interest/principal payments due on bonds, mutual funds and commercial papers, an aspect that has been left out of the moratorium’s scope.NBFCs are concerned because banks, after the default by IL&FS in October 2018, closed their funding tap to such entities. Even the partial credit guarantee scheme announced specifically for para banks to tide over the liquidity squeeze was only implemented after a nudge by the finance minister.“NBFCs and HFCs (housing finance companies) still remain a stable asset class and the perceived risk aversion after the IL&FS crisis will need a sharp review, given the current situation of lockdown and its deep impact on retail customers,” said Manish Jaiswal, CEO, Magma Housing Finance.

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Heatwave Conditions May Disrupt Coronavirus Fight: Odisha Officials

With the MeT department forecasting heatwave conditions in Odisha in the next few days, the state disaster management authority on Sunday warned that the situation may compound the challenges in...

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कोरोना : लॉकडाउन में शादी.. 11 पर मुकदमा दर्ज, कैंसर मरीज इलाज के लिए परेशान

लॉकडाउन के बावजूद शादी समारोह आयोजित करने पर नवविवाहित जोड़े समेत 11 लोगों पर मुकदमा दर्ज किया गया है। इस बीच महाराष्ट्र में 12 और लोगों के कोरोना वायरस संक्रमित मिलने के साथ ही राज्य में कोविड-19 के मरीजों की संख्या 203 पहुंच गई है।

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कोरोना: बरतें सतर्कता, बैंक के डेबिट-क्रेडिट कार्ड को करें डिसइंफेक्ट.. घड़ी, अंगूठी पहनने से बचें

कोरोना वायरस से बचाव सतर्कता से ही संभव है। लंदन के जनरल प्रैक्टिसनर्स का मानना है कि डेबिट और क्रेडिट कार्ड भी संक्रमण का बड़ा कारण हो सकते हैं। इसके अलावा नोट के प्रयोग के साथ घड़ी और अंगूठी पहनने से भी बचना होगा।

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दिल्ली में 17 से 82 साल तक के मरीज कोरोना संक्रमित, अभी सामुदायिक फैलाव नहीं

दिल्ली में कोरोना वायरस से अब तक 49 लोग संक्रमित हो चुके हैं, बावजूद इसके सामुदायिक फैलाव का एक भी केस सामने नहीं आया है।

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डॉक्टरों की जान का दुश्मन बना कोरोना वायरस, ब्रिटेन में ऑर्गन ट्रांसप्लांट सर्जन की संक्रमण से मौत

कोरोना वायरस मरीजों की जान बचाने में जुटे डॉक्टरों की जान का दुश्मन बन गया है।

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इटली से ग्राउंड रिपोर्ट : ‘पलायन न होता तो आज जैसे हालात न होते’, यही है खतरे की घंटी

इटली में हमने एक-डेढ़ महीने पहले ऐसा ही पलायन देखा और उसके बाद कोरोना वायरस कैसी त्रासदी में बदल चुका है, पूरी दुनिया देख रही है। इटली भौगोलिक तौर पर उत्तर और दक्षिण के रूप में भी पहचाना जाता है।

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वुहान में मिली कोरोना की ‘पेशेंट-जीरो’, कहा-वायरस रोक सकती थी चीनी सरकार

वैज्ञानिकों ने कोरोना वायरस पेशेंट-जीरो यानी शुरुआती मरीजों में से एक महिला की पहचान की है। वह वुहान में हुआनान के मांस-बाजार में झींगा मछली बेचती थी, यहीं से यह चीनी वायरस उपजा था।

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कोरोना प्रभावित यूपी वालों के लिए मुंबई में नोडल अफसर

महाराष्ट्र में मुंबई, ठाणे, नवी मुंबई, पालघर, रायगढ़, नासिक सहित राज्य के कई शहरों में यूपीमूल के करीब 40 लाख लोग रहते हैं।

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View: Relief package is peanuts. India needs to triple it

Outrageously small. Crumbs from a miser’s table. Spineless obeisance to fiscal orthodoxy. Cowardly fears of foreigners reacting badly to a massive fiscal stimulus.Forgive my censorious language in castigating the inadequacy of the government’s Rs 1.7 trillion relief package (0.8% of GDP) for those hit by the 21-day lockdown decreed to control the coronavirus. The government’s measures are mostly in the right direction but hugely inadequate. Many listed reliefs were already part of ongoing welfare measures, so the additional fiscal stimulus may be barely Rs 1 trillion, under 0.5% of GDP.By contrast, the US has just enacted a relief package of $2 trillion, almost 10% of its GDP, over and above ongoing welfare spending. Relative to GDP, the US additional stimulus is 20 times India’s. Two former White House economic advisors, Glenn Hubbard and Austen Goolsbee, say the $ 2 trillion package is just a start for the needy, and this will definitely be followed by a second stimulus to lift the economy out of virus-induced recession. If that is another one trillion dollars, the total stimulus could be a whopping 15% of GDP.The US relief package has been devised not by a socialist like Bernie Sanders but a right-wing President granting massive tax breaks to corporations. Trump personally thinks the virus threat is highly exaggerated and does not warrant locking down economic activity to check the virus’ spread. Yet even he accepts the need for a stimulus twice as large as in the 2008 Great Recession.The 2008 and 2009 relief packages in the US aimed to save tottering banks and businesses, along with modest increases in food stamps and unemployment relief. But not even in 2008 did the US government send cheques to the needy. This time, it will send $1,200 to all individuals earning under $75,000. Married couples earning up to $150,000 will get $2,400, plus $500 per child. The relief is reduced for those earning up $99,000 and eliminated for higher-income persons.The lesson for India is clear. At least triple the relief package and put more money into the bank accounts of the needy. If the problem continues for six to nine months, increase the relief package fivefold. Even a fivefold increase implies an additional stimulus of barely 5% of GDP, tiny compared to the US stimulus.This will be utterly unorthodox economics, and fiscal purists will faint in horror. But this is not a conventional fiscal crisis. A medical crisis has forced governments across the world to impose lockdowns on economic activity, deliberately causing the great misery of recessions to check the virus’ spread and save millions of lives. When the government itself creates a recession — albeit for good medical reasons — it may reduce GDP by 3%. Its relief package should be at least the same size. Forget orthodox fiscal policy. India, like the US, must bust all fiscal records.This mega stimulus should be financed entirely by RBI, just printing the money needed. Banks must not be asked to fund the rising fiscal deficit. They must focus their resources on entities hit by the recession. This mega-stimulus must be one-off. It should have a sunset clause, ending when the medical crisis does. It must not be confused with other programmes like PM-Kisan or a universal basic income. India has a fundamental problem of excessive government debt and needs to return to prudence once the virus dies out. The finance minister has proposed a miserly Rs 500 a month for three months into all Jan Dhan Accounts. Why not triple that instantly? The new US law provides $130 billion for hospitals testing millions of patients. An additional $150 billion will assist state and local governments dealing with the virus at the grassroots.This holds lessons for India. A virus test costs Rs 4,500, over Rs 20,000 for most families. How many can afford this? Which states have enough money or staff? The Centre must massively assist both, ensuring that testing is nearfree, and that states can get more staff, equipment and medical supplies. Open free kitchens in schools, anganwadis and panchayat ghars without ID requirements to feed unemployed migrant workers.Social distancing and lockdowns in India will not be as effective as in organised countries like Singapore. Millions in India have four or more people per room. Sheer crowding makes social distancing impossible. Virus control may be very flawed. Epidemiologist J Mulyil estimates that to develop “herd immunity”, 55% of Indians — 750 million people — need to get infected. Just 1% mortality among these means 7.5 million dead. Hopefully outcomes will be better. But this moral, medical and economic mega crisis requires a mega stimulus.

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Clashes In China As People Try To Leave Coronavirus-Hit Hubei Province

In a rare display of public anger in China, dozens of people in central Hubei province, the epicentre of the coronavirus outbreak till recently, attacked official vehicles after they were stopped from...

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14-Day Mandatory Quarantine For Lakhs Of Migrants Returning To UP, Bihar

A 14-day quarantine in state-run camps is mandatory for lakhs of migrant labourers who are returning to their hometowns in Uttar Pradesh and Bihar in special buses amid a nationwide lockdown over...

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Delivery Agent Who Walked 200 km From Delhi Amid Lockdown Dies On Highway

A 38-year-old man, who had walked over 200 km from Delhi to reach his home in Madhya Pradesh after Prime Minister Narendra Modi announced a 21-day lockdown to spread of coronavirus, died on the way.

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India Reports 194 COVID-19 Cases In A Day, Total Rises To 918

The number of coronavirus cases soared to 918 on Saturday including 19 deaths, according to the Union Health Ministry.

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Coronavirus India: देश में संक्रमितों की संख्या 1000 के पार, 20 से अधिक मौतें

वैश्विक महामारी कोरोना वायरस की वजह से देश में लगातार संक्रमितों की संख्या बढ़ रही है। शनिवार को यह संख्या बढ़कर 1000 के पार हो गई, वहीं मृतकों की संख्या भी 20 से अधिक हो गई। देश में सबसे ज्यादा प्रभावित महाराष्ट्र और केरल हैं।

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"Quarantine Won't Be Necessary" In New York, Says Donald Trump

US President Donald Trump decided late Saturday against imposing a broad lockdown on New York and its neighbors after a strong pushback from local political leaders and warnings of the panic it could...

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Case Against Noida Firm After Workers Suspected Of Spreading COVID-19

An FIR was registered against a private company whose staffers, including a foreigner who visited the firm recently, are suspected to have infected 13 people with coronavirus in Noida and Greater...

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कोरोना: पहली बार एक दिन में 221 संक्रमित, ICMR ने कहा- भारत तीसरे चरण से अभी दूर

देश में पहली बार शनिवार को एक ही दिन में 30 फीसदी से ज्यादा यानी 221 कोरोना संक्रमित बढ़ गए। शुक्रवार तक 724 मरीज थे, जो 24 घंटे में बढ़कर 945 हो गए।

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Corona World LIVE: 48 घंटे में स्पेन में 1506 की मौत, इटली में 10 हजार मौतें, विश्व में 30 हजार से ज्यादा की गई जान

वैश्विक महामारी का रूप ले चुके कोरोना वायरस की वजह से पूरी दुनिया में तबाही मची हुई है। इसकी जानलेवा वायरस की वजह से दुनियाभर में अब तक 6 लाख से अधिक लोग संक्रमित हुए हैं, वहीं इससे अब तक 30 हजार से अधिक लोगों की जान गई है।

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नोएडा: कोरोना संक्रमित व्यक्ति को मिलेगा 28 दिन का सवेतन अवकाश, गौतमबुद्धनगर के डीएम का एलान

गौतमबुद्धनगर के जिला मजिस्ट्रेट ने जानकारी देते हुए बताया कि कोरोना वायरस पॉजिटिव व्यक्ति या जो संभवतः संक्रमित हैं और क्वारंटीन हैं उन्हें मेडिकल सर्टिफिकेट दिखाने के बाद 28 दिन का सवेतन अवकाश दिया जाएगा।

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In Rare Case, Baby In US Dies From COVID-19

A US infant has died from the COVID-19 illness, officials in the state of Illinois said on Saturday, marking an extremely rare case of juvenile death in the global pandemic.

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"Nothing Big Or Little": PM To Man Who Donated Rs 501 To COVID-19 Fund

Prime Minister Narendra Modi on Saturday announced the launch of a new fund to combat the coronavirus crisis and similar situations arising in the future, instantly drawing a flood of pledges. When a...

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US Tops World In Coronavirus Cases, Overtaking China And Italy

The United States on Thursday took the grim title of the country with the most coronavirus infections and reported a record surge in unemployment as world leaders vowed $5 trillion to stave off global...

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संकट में लॉकडाउन...पांच लाख से ज्यादा लोगों का दिल्ली से पलायन

दिल्ली से पांच लाख से ज्यादा लोग दो दिन में यूपी में दाखिल हो चुके हैं।

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इटली में कोरोना से लड़ रहे 51 डॉक्टरों की मौत, संख्या 10 हजार के पार, स्पेन में भी हालात खराब

कोरोनावायरस के कहर का सबसे बड़ा केंद्र बन चुके इटली में मरने वालों की संख्या 9 हजार के पार पहुंच गई है। वहां इलाज कर रहे डॉक्टर भी संक्रमण की चपेट में आने लगे हैं। अभी तक इटली में कुल 51 डॉक्टर इस संक्रमण की चपेट में आकर मारे जा चुके हैं।

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वैश्विक स्तर पर 6 लाख पीड़ित, 30 हजार से ज्यादा मौत, अमेरिका में एक लाख के पार पहुंची संक्रमितों की संख्या

वैश्विक स्तर पर कोरोना वायरस भयानक रूप लेता जा रहा है। इस वायरस की चपेट में करीब 199 देश आ चुके हैं, जिसके कारण 30 हजार लोगों की मौत हो चुकी है और 6 लाख से ज्यादा लोग इसकी चपेट में आ चुके हैं।

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कोरोनाः विदेशों से पैसे नहीं आ पाने से परिजन भूखे रहने पर मजबूर

कोरोना के प्रकोप के बीच भारत से विदेश और विदेश से भारत के लिए धन का आवागमन भी प्रभावित हुआ है।

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प्रधानमंत्री नरेंद्र मोदी आज करेंगे 'मन की बात', कोरोना वायरस पर होगी केंद्रित

प्रधानमंत्री नरेंद्र मोदी हमेशा की तरह इस रविवार यानि आज मन की बात करेंगे। लेकिन इस बार यह वैश्विक महामारी कोरोना वायरस पर केंद्रित होगी। इस संबंध में प्रधानमंत्री मोदी ने ट्वीट करके जानकारी दी है।

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कोरोना: पलायन कर रहे जत्थों को ‘जहां हैं, वहीं सुविधा’, एडवाइजरी जारी, नियम भी बदले

बड़ी संख्या में मजदूरों के पलायन को देखते हुए केंद्र ने राज्यों को एडवाइजरी जारी कर मजदूरों को जहां है वहीं सुविधाएं मुहैया कराने के लिए कहा है।

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पीएम मोदी ने ट्वीट करके की अपील, इन हस्तियों ने मदद के लिए बढ़ाए हाथ

महामारी कोरोना वायरस की चुनौतियों से निपटने में जुटे प्रधानमंत्री नरेंद्र मोदी ने शनिवार को देशवासियों से मदद की अपील की। कोरोना वायरस से जंग में सरकार की सहायता के लिए उन्होंने पीएम-केयर्स फंड बनाए जाने का एलान किया।

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राहत भरी खबर: एमआईटी का अध्ययन, भारत में गर्मी कम करेगी कोरोना का कहर

कोरोना वायरस की महामारी से जूझ रहे देश के लिए यह खबर राहत भरी हो सकी है। मैसाचुसेट्स इंस्टीट्यूट ऑफ टेक्नोलॉजी (एमआईटी) ने उम्मीद जताई है कि जैसे-जैसे धूप और गर्मी बढ़ेगी हो सकता है कोरोना का प्रकोप भी वैसे-वैसे कम होगा।

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110 New Cases In 24 Hours, COVID-19 Count Crosses 800-Mark: 10 Points

India saw the highest jump in coronavirus or COVID-19 cases in the last 24 hours with 110 patients testing positive for the highly contagious illness in different parts of the country. The total is...

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COVID-19: Trump Announces 1 Lakh Ventilators In 100 Days To Help Allies

The United States is ready to supply a large number of ventilators needed by its friends and allies in their fight against the coronavirus pandemic, President Donald Trump said on Friday.

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Former La Liga Winger Dons White Coat To Take On Coronavirus

Toni Dovale, who now play for a Thai club, is putting his pharmacy degree to use in the fight against the COVID-19 pandemic in Spain.

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RBI allow lenders to give 3-mnt moratorium on loans

Mumbai: The Reserve Bank of India (RBI) sought to cushion both borrowers and lenders against the unprecedented disruption engendered by the Covid-19 outbreak, allowing companies a three-month grace period on loan repayments. It also gave banks the breathing space on default tagging in the event of customers skipping payments.All term loans, including agricultural term loans, retail and crop loans and working capital payments, will be covered by the three-month moratorium. Banks will now have discretion in deciding the limits on working capital, with RBI saying that no payment miss should be considered a default and reported to credit information companies.“All commercial banks, NBFCs (nonbanking finance companies), all-India financial institutions are permitted to grant a moratorium of three months on payment of all instalments falling due between March 1, 2020, and May 31, 2020,” the RBI said Friday.‘Interest will Accrue’The measures came on the day the central bank slashed the benchmark repo rate to a record low to help spur demand when the nation of a billion-plus consumers is to end its Covid-19 lockdown by mid-April as per the current timetable.“The repayment schedule for such loans as also the residual tenor will be shifted across the board by three months after the moratorium period,” the central bank said. “Interest shall continue to accrue on the outstanding portion of the term loans during the moratorium period.”According to State Bank of India (SBI) chairman Rajnish Kumar, customers wanting to avail of the benefit will have to opt for it.“My understanding is that, across the board, all term loan payments will get automatically deferred by three months,” Kumar said. “Banks will reassess working capital limits on a caseto-case basis and wherever relief is required will be given.”OPTIONAL FOR BORROWERSKumar further explained that the scheme would only be applicable to those who cannot pay their dues on time. Customers who have given standing instructions to deduct equated monthly instalments (EMI) toward borrowings will also have to approach their banks to seek the benefit. “I also have a housing loan from the bank. I am not planning to change the outgo. It will be continued to recover from my salary — I am not seeking the deferral. There is a choice,” he said.While NBFCs are prepared to pass on the deferral benefit to their retail borrowers, they are worried about whether banks will extend the same benefit to them.“The RBI has left this to the discretion of the lenders. For us, a moratorium is a given for our retail borrowers because giving this on a case-tocase basis will be an operational nightmare,” said Raman Agarwal, senior vice president, SREI Equipment Finance. “What worries me is whether banks will also allow a similar moratorium for us because it’s a call they have to take.” The rise in Covid-19 cases and the 21-day lockdown announced by the government are likely to cause large-scale disruption to businesses. The full impact from the virus outbreak on growth and delinquencies would be visible from Q1FY21, experts said. The lockdown began on March 25.EXPOSURE TO SECTORSAccording to RBI data at the end of January, banks have an outstanding exposure of Rs 11 lakh crore to the micro, small and medium enterprises (MSME) sector and Rs 7.37 lakh crore to the NBFC sector. Banks have also lent Rs 3.73 lakh crore to the manufacturing sector, Rs 2.27 lakh crore to the commercial real estate sector, Rs 1.41 lakh crore to the transport sector and over Rs 45,000 crore to the tourism and hotels segment.A Crisil review of 120 companies in the airline, hotel, tourism, mall, organised brickand-mortar retail, multiplex and restaurant sectors led to rating action on 81 companies — 22 were downgraded, 40 saw downward revision in rating outlook, and the remaining 19 were put on negative rating watch.

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