Page 321 - Latest Updates on Lockdown
Mutual Funds play it safe on equity bets amid market volatility
According to the data collated by Edelweiss, Reliance Industries was on top of mutual funds' buying list
 "Mutual Funds play it safe on equity bets amid market volatility")
Too early to say cheers: Liquor stocks face risks over extended lockdown
A sharp rise in excise duty could hurt liquor volumes. UBS has slashed its target price for UBL and UNSP by 20-23 per cent following 12-27 per cent cut in FY21 earnings estimates
 "Too early to say cheers: Liquor stocks face risks over extended lockdown")
Lockdown, moratorium are microfinance institutions' biggest fears
Despite an assuring outlook, large brokerages - whether Kotak Institutional Equities, Axis Capital, Ambit Capital or Credit Suisse - say the MFI sector may be in for a rough ride
 "Lockdown, moratorium are microfinance institutions' biggest fears")
Migrant workers gather in hundreds in Mumbai, say they want to go home
Daily wage workers have been left without jobs ever since the lockdown was announced late last month to stem the spread of COVID-19, making their life an unending struggle
 "Migrant workers gather in hundreds in Mumbai, say they want to go home")
Calibrating exit and stimulus is our best bet
There is a view that an extension is not warranted. It suffices to lock down areas with incidence of coronavirus
Corona complexity
Set economic growth aside, intensify redistribution
 "Corona complexity")
Allow digital onboarding of customers for NBFCs, others: Industry body
The non banking entities are capable of doing minimum know your customer (KYC) for merchant transactions successfully without face- to- face physical interaction with the customer only
 "Allow digital onboarding of customers for NBFCs, others: Industry body")
Customs clearance goes paperless, contactless to speed up essentials import
Expedited clearance of raw materials will facilitate the production of essential items like pharmaceuticals in the country
 "Customs clearance goes paperless, contactless to speed up essentials import")
Covid in India and the world
The growth in cases in India is high compared with other nations
 "Covid in India and the world")
Barclays pegs economic cost of lockdown at $234 bn; sees no growth in 2020
Barclays has revised down their GDP growth forecast further to 0 per cent for calendar year 2020 (CY20) from 2.5 per cent earlier
 "Barclays pegs economic cost of lockdown at $234 bn; sees no growth in 2020")
Letter to BS: PM address a let down for those expecting concrete steps
His exhortation to people to strictly abide by the lockdown rules and the rhetoric, laced with positivity, is nothing new
Letter to BS: Govt should buy vegetables from farmers to prevent wastage
The government should step in and avoid a situation where farmers are forced to destroy food
 "Letter to BS: Govt should buy vegetables from farmers to prevent wastage")
Letter to BS: Find coronavirus cure from data of recovered patients
The need of the hour is urgent clinical trials with different drugs and medicines and universal sharing of data amongst global medical personnel
 "Letter to BS: Find coronavirus cure from data of recovered patients")
Never waste a crisis
The government should go for deep structural reforms
Covid-19 impact: Airlines' revenues set to dip by 55% in 2020, says IATA
It marks a sharp worsening of the forecast for the aviation industry, as just three weeks ago the decrease was predicted to be 44 per cent, or $252 billion
 "Covid-19 impact: Airlines' revenues set to dip by 55% in 2020, says IATA")
Lights out for the power sector? Coronavirus makes a crisis worse
Its pre-pandemic crisis is likely to worsen with the prolonged lockdown unless the government offers some vital concessions
 "Lights out for the power sector? Coronavirus makes a crisis worse")
Covid -19 impact: UK economy may shrink by 13% in 2020, the most in 300 yrs
In the April-June period alone, economic output could plunge by 35%, with the unemployment rate more than doubling to 10%, the Office for Budget Responsibility (OBR) said
 "Covid -19 impact: UK economy may shrink by 13% in 2020, the most in 300 yrs")
RBI wants banks to take call on package, moratorium extension for NBFCs
The approach, according to people familiar with the RBI, is that the regulator can only enable the banks to take such commercial decisions
 "RBI wants banks to take call on package, moratorium extension for NBFCs")
Covid-19 crisis a major threat to stability of global financial system: IMF
Policymakers have already taken "decisive" fiscal and monetary policy steps to soften the impact of the pandemic, the IMF said
 "Covid-19 crisis a major threat to stability of global financial system: IMF")
TVS SCS launches Corona Kavach, to focus on 90-day plan to combat lockdown
TVS Supply Chain Solutions, part of the $8.5 billion TVS Group, said that it is focusing on a 90-day plan to combat the national lockdown due to coronavirus
 "TVS SCS launches Corona Kavach, to focus on 90-day plan to combat lockdown")