"People who returned two days ago from Delhi and Noida on buses were scanned. Of this, there were around 50 persons who returned after attending the Tabligh-e-Jamaat. These people have been quarantined at Shia College, and their health check-up is being done," District Magistrate Dinesh Kumar Singh said. He said their addresses and the places they visited after attending the religious congregation are being ascertained. … [Read more...] about Coronavirus spread at Nizamuddin: Here is what central, state govts have done so far
Immediately after the summit, International Monetary Fund (IMF) Managing Director Kristalina Georgieva declared “it is now clear that we have entered a recession as bad, or worse than in 2009”. It is not just about Europe and the United States; she highlighted that a wide range of problems are building up in emerging markets and developing economies as well. There is drop in commodity prices in addition to $83 billion capital outflows from emerging markets. More than 80 countries have requested the IMF for emergency financing, and emerging markets may need at least $2.5 trillion. … [Read more...] about COVID-19 | Can G-20 provide the right platform for a global response?
Then came a strike that showed that the RBI was playing solidly on the front foot: Targeted Long Term Repos Operations (TLTROs). The Reserve Bank will conduct auctions of targeted term repos of up to three years’ tenor, of appropriate sizes, for a total amount of up to Rs 1,00,000 crore at a floating rate linked to the policy repo rate. Liquidity availed under the scheme by banks has to be deployed in investment-grade corporate bonds, commercial paper, and non-convertible debentures, over and above the outstanding level of their investments in these bonds as on March 27, 2020. … [Read more...] about RBI comes out all guns blazing to sanitise a struggling financial system
Tata-Mistry saga | Tata objects to SP Group pledging shares: Report Shapoorji Pallonji Group looking to pledge 18.4% stake in Tata Sons for $1 billion: Report Coronavirus pandemic | Ratan, Tata group pledge Rs 1,500cr in support of fight against COVID-19 … [Read more...] about Tata Sons plans Rs 7,000cr fundraising to clear old high-cost loans: Report
On the Centre's response towards the state's demand for a financial package and refund of Goods and Services Tax (GST) arrears, the Punjab chief minister says, “It is unfortunate that we are yet to get a positive response from the Centre. I am sure they are doing their best, given the gravity of the situation. But frankly, it is not enough to meet the challenge. They need to pump in more funds, and release our GST arrears immediately.” … [Read more...] about Dealing with COVID-19 is like fighting a war with an unknown enemy: Punjab CM Amarinder Singh