COVID STRESS
Naredco urges housing ministry to provide relief to real estate developers in NCR
NAREDCO appealed to the Ministry of Housing and Urban Affairs for rescheduling builders' land dues in Haryana and Uttar Pradesh. They requested a zero-period during COVID-19 years and extensions for project completions. The committee identified stalled projects and stressed units, emphasizing the need for relief to boost economic activity and housing delivery.
India-US together can ensure global peace, prosperity, stability: Defence Minister Rajnath Singh
The defence minister enumerated the steps taken by the government to achieve 'Aatmanirbharta' in defence, including the notification of Positive Indigenisation Lists comprising over 5,000 items. He emphasised that the consistent efforts are being made to ensure that state-of-the-art defence items are manufactured on Indian soil by domestic companies.
Joe Biden's exit, talk of the glass ceiling, a civil rights hero. Takeaways from Day 1 of the DNC
The Democratic National Convention began its first night with speeches from Hillary Clinton and Joe Biden. Hillary Clinton addressed the ongoing effort to elect a female president, highlighting the historic challenge of breaking the "glass ceiling." Joe Biden was slated to be the final speaker of the evening in Chicago on Monday night.
Epidemics such as Nipah virus outbreaks, Covid-19 originated from non-human source: J P Nadda to Rajya Sabha
Union Health Minister J P Nadda emphasized the importance of a One Health approach, integrating human, animal, and environmental health, to tackle zoonotic diseases like Nipah and Covid-19. The National One Health Mission aims to enhance disease surveillance, research, and pandemic preparedness, supported by a financial outlay of Rs 386.86 crore.
Delhi HC orders Patanjali to remove claims about his Covid-19 cure Coronil
The Delhi High Court on Monday ordered Patanjali Ayurved and its promoters, including co-founder Baba Ramdev and Managing Director Acharya Balkrishna, to remove statements claiming that allopathy caused the deaths of lakhs of people during the Covid pandemic and that its Coronil tablet was a cure for the virus. Justice Anup Jairam Bhambhani issued an interim order restraining the company, Ramdev, and Balkrishna from making such allegations.
Global economic 'soft landing' encourages G20 financial heads
The statement is set for release as finance ministers and central bankers from the Group of 20 major economies wrap up their second day of meetings in Brazil, which has used its presidency to focus on reducing economic inequalities.
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FM Nirmala Sitharaman: Word we gave post-Covid on fiscal glide path will have to be honoured
Industry was extensively consulted while designing the employment schemes announced in the budget and will be involved at the implementation stage as well, finance minister Nirmala Sitharaman said in an interview with Deepshikha Sikarwar, Vinay Pandey and Sruthijith KK. Edited excerpts:
UK election-winner Starmer inherits weak economy with 'no magic wand'
Living standards have stagnated since Conservatives took power in 2010 and Britain's recovery from the COVID pandemic has been the weakest among big rich nations after Germany. Starmer will be under pressure to use Labour's huge majority in parliament to end the sense of decline, from creaking public services and inflation-hit personal finances to a shortage of housing and weak business investment.
Ujjivan SFB adjusts loan growth guidance amid microfinance stress
I think these are things that we have to monitor very carefully and hopefully once the budget is out and announced and the revenues trickle into the economy, I think we will see some benefits from that. So, all in all, we are looking at a better second half. The effect is more in the first half of the year.
Microlenders’ books up 24.5%, asset quality improves
The microfinance market expanded by a fourth in FY24 with improved asset quality, driven by better loan recovery. Data from the Microfinance Institutions Network (MFIN) shows a 24.5% growth in the gross loan portfolio to ₹4.34 lakh crore.
Higher property prices, changes in law to boost debt recovery from stressed realty projects: Report
The recovery of debt from stressed residential realty projects is expected to increase in the current financial year due to rising property prices and regulatory changes. Crisil forecasts a bad loan recovery rate of 16-18% by FY25, driven by improved project viability, strong demand, and investor interest. Recent amendments to IBBI regulations are also seen boosting real estate asset resolution. With residential realty demand projected to grow by 10-12% and low unsold inventories, ARCs are expected to expedite the turnaround of stressed projects.
ARCs to see 5-7% higher recoveries from residential realty in FY25: CRISIL Ratings
Additionally, recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations are expected to expedite the resolution of stressed real estate assets in the medium term, enhancing the overall recovery process for ARCs.
Nifty crash worst single-day fall since Covid days. What should investors do?
The possibility of a bear market looms if NDA's seat tally falls short, shifting focus to economic growth and earnings. A hung parliament may trigger a market downturn before investors refocus on financial indicators.
Off-roading mania sweeps India: Thrill-seekers conquer challenging terrain
Off-road driving is taking off in India as men and women, young and old, enjoy the thrill of extreme terrain—from snowy trails and sand dunes to slushy paths and rocky landscapes. Off-roading is best experienced on a 4x4 SUV—a four-wheeler in which the engine drives all four wheels, providing better traction and grip.
Creditors' haircuts in bankruptcy cases jump to 73 pc in FY24, resolutions taking longer: Report
Creditors' haircuts in bankruptcy resolutions rose to 73% in FY24 from 64% in FY23. 269 resolution plans were approved by NCLTs, with a decline in new admissions due to Covid-19. The average resolution time also increased, impacting CIRPs and entities. NCLT passed liquidation orders for 446 corporate debtors in FY24.
Nearly 100 cases of Covid's new FLiRT variant KP.2 found in Maharashtra: Here are the most affected cities
Maharashtra identifies 91 cases of the Omicron subvariant KP.2, surpassing the JN.1 variant. Pune records the highest number at 51. Dr. Rajesh Karyakarte notes an increase in cases without a rise in hospitalizations. Other cases reported in various cities. FLiRT variants consist of KP.1.1 and KP.2 strains. Japanese researchers identify unique substitutions in the S protein of KP.2 variant.
Mind Over Money: 50,000 steps per week, yoga and meditation keep this CEO mentally & physically fit
Abhijit Bhave, MD & CEO of Equirus Wealth, exemplifies the fusion of leadership and holistic health practices, emphasizing the importance of a comprehensive approach in achieving professional success and personal well-being.
"Viksit Bharat" not merely a slogan but India's journey to next 25 yrs: EAM Jaishankar
EAM Jaishankar was giving a lecture at Hansraj College, New Delhi. Jaishankar commenced his address by urging the audience to understand the gravity of "Viksit Bharat," stating, "Please don't think it's a slogan. It is something very serious that we are talking about."
Stress Positions: Here’s everything you may want to know about plot, cast, trailer and crew
In "Stress Positions," comedian John Early plays Terry Goon, an anxious man navigating quarantine with his injured nephew in a Brooklyn brownstone. The film, praised as a top pandemic comedy, explores personal dilemmas and meddling friends. It premiered at Sundance and released stateside on April 19.
Financial concern, uncertain job market push up stress levels, finds study
The study shows that though India is still in the “Struggling Zone” in Life Evaluation bucket or subjective wellbeing with an average score of 6.44 in the happiness scale of 0-10, though the happiness index of Indians has improved from 6.36 a year ago.
No stress in demand in Bangalore, Chennai or Hyderabad: Pradyumna Krishnakumar, Brigade Group
Pradyumna Krishnakumar, Executive Director of Brigade Group, discusses the company's dynamic pricing strategy, strong demand in Bangalore and other cities, and the management of cost pressures. The company has signed MOUs for four projects with the Tamil Nadu government, contributing to its residential launch calendar. Krishnakumar says "the more we launch at this juncture, the more it is getting absorbed. This is one of those few periods where sales momentum is going hand in hand with price increases."
Dirty air isn't airy- fairy, it's body blows
A study from Christian Medical College, Vellore, reveals that Indians with Covid-19 are more likely to suffer from lung function impairments compared to Europeans and Chinese, possibly due to air pollution, lack of physical activity, and high stress levels. India's lung capacity was found to be 30% lower than Europe's a decade ago. Despite this, pollution regulations often prioritize economic growth over public health. Shifting focus to protecting public health in pollution control policies could lead to healthier, more productive citizens and contribute to overall development.
Health Minister Mandaviya stresses on pandemic preparedness, disease surveillance
Mandaviya laid the foundation stone of the NCDC regional branch in Assam and six state branches in Haryana, Tamil Nadu, Karnataka, Odisha, West Bengal and Mizoram, and BSL-3 labs in Himachal Pradesh and Jharkhand virtually from the National Centre for Disease Control (NCDC).
Focus shifts to healthcare delivery in 2023 as Covid stress eases
A major initiative this year has been the launch of the National Sickle Cell Anaemia Elimination Mission by Prime Minister Narendra Modi in July. The mission is aimed at elimination of the disease in India, particularly among the country's tribal populations in 17 high prevalence states by 2047.
Indian banks strong enough to face adverse macro and credit stress: RBI
The 28th Financial Stability Report from RBI highlighted that scheduled commercial banks have ample capital buffers, ensuring regulatory compliance even under severe stress scenarios. The report also underscored the need for suitable regulatory and supervisory measures to mitigate risks arising from the expanding use of technology and innovation in the financial system.
UP government issues guideline for revival of stuck projects
The state government has said that builder taking benefit of the policy won’t be able to charge any amount from the buyer so that the benefit provided by the government reaches to the homebuyer. UP cabinet on Tuesday gave approval to recommendations of a committee chaired by former NITI Aayog chairman and India’s G20 Sherpa Amitabh Kant, which is expected to infuse new life into more than 200,000 stalled flats in Noida, Greater Noida, and the Yamuna Expressway region, said property developers and industry experts.
After Covid, return to office, performance pressure keep Gen Z stressed
Nearly 70% of the people from a sample of over 10,000 seeking counselling support from mental health service provider Amaha in 2023 were young working professionals in the age group of 22-35 years, said Amit Malik, its founder and chief executive.
Banking, financial services are looking up as bad debt, Covid-related stress are things of the past: Jaspal Bindra, Centrum Group
The new risk weightage norm is not a big challenge for Unity as we don’t have a big legacy book. But it will put a little deterrent to market players because 25% higher risk weightage always forces a rethink in the way business is done. At Unity, we are planning to get into personal loans. The starting point would be branded credit cards with three different partners, says Jaspal Bindra, chairman of Centrum Group.
SC junks PIL seeking cancellation of Centre's relief to stressed telcos from paying statutory dues
A bench of Justices B V Nagarathna and Ujjal Bhuyan said that no doubt, the apex court by its judgment had issued certain directions with regard to the telecom sector but in the backdrop of the COVID-19 challenges, with huge surge in data consumption, online education, work from home, etc., reform measures were found necessary to boost the proliferation and penetration of broadband and telecom connectivity.
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