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LIVE: India a country of political stability, policy continuity, says PM
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Narendra Modi during his address at the 3rd USISPF 3rd Annual Leadership Summit
Prime Minister Narendra Modi on Thursday said that although the coronavirus pandemic was unexpected and was testing the country's resilience, health and economic systems, it had not affected the ambitions, aspirations of 1,30 billion Indians.
In his key note address at the third leadership summit of US India Strategic and Partnership Forum (USISPF) via videoconferencing, PM Modi said, "India was among first to advocate face coverings as public health measure and to create a campaign about social distancing."
Saying that the world believed in India, Modi added,"India has undertaken far-reaching reforms to make business easier and red-tapism lesser." He also said that the India offered a trasparent and predictable tax regime, which supported honest taxpayers.
"India a country of political stability and policy continuity with commitment to democracy and diversity," he noted.
The Supreme Court on Thursday directed that the bank accounts should not be declared as non-performing asset (NPA) as on 31 August should not be declared as NPAs until the disposal of the pleas seeking an extension of the moratorium period.
In another major development, Finance Minister Nirmala Sitharaman told banks in a meeting today to put in place a loan restructuring scheme for rescuing all viable business units affected by the Covid-19 pandemic by September 15. “During her interaction, the Finance Minister focused on lenders immediately putting in place board-approved policy for resolution, identifying eligible borrowers and reaching out to them and quick implementation of a sustained resolution plan by lenders for revival of every viable business,” the finance ministry said in a statement.
India has banned 118 more apps said to be either based in or linked to China. PUBG Mobile, Alipay, and Baidu are among the biggest names on the list. India had earlier banned TikTok, WeChat, and more than 50 other China-based apps in June, suggesting they were a security issue. This comes amid the escalating tensions between India and China over an ongoing border dispute.
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