The BRICS countries – Brazil, China, Russia, India, and South Africa – closed out a recent summit with an agreement on supporting one another, and developing nations, with tackling tax evasion and plugging opportunities for tax avoidance.

The governments of Japan and Russia signed a new convention on the elimination of double taxation on September 7.

The US-based National Bureau of Economic Research has released a new report that looks at which countries' taxpayers have the most wealth stored in so-called "offshore tax havens."

The European Commission has announced the imposition of new anti-dumping duties on imports of hot rolled flat steel products from four countries.

The use of technology by business and government in tax compliance is driving continued simplification and reduction in the burden of tax compliance on businesses, says Paying Taxes 2018, a report by The World Bank Group and PwC.

Russia's Energy Ministry has announced that changes to the tax treatment of the oil industry will take place, but potentially not until 2019.

New EU trade defence legislation entered into force on December 20, changing the way the EU deals with dumped and subsidized imports.

BDO, the accountancy and business advisory firm, has released a report into the rapidly growing issue businesses and governments face with fraud, including tax fraud.

Legislation has been tabled in Russia's lower house of parliament, the Duma, to introduce a two-rate personal income tax regime, in place of the current flat tax regime.

Denmark was found to have the heaviest burden of taxation as a percentage of the economy in a new study by accountancy firm UHY.

The OECD has published new transfer pricing country profiles for Australia, China, Estonia, France, Georgia, Hungary, India, Israel, Liechtenstein, Norway, Poland, Portugal, Sweden, and Uruguay, bringing the number of such overviews published by the OECD to 44.

The Swiss Federal Tax Administration has confirmed that it has transmitted its first spontaneous information reports on advance tax rulings to exchange of information partner states.

The Russian Government is reportedly considering the introduction of a number of new taxes, including a tax on hotel stays.

In a letter dated August 8, 2019, the Russian Federal Tax Service amended the rules for non-resident holding companies to be considered as the beneficial owner of Russia-sourced income.

I request you to kindly give me your advise on GST which is going to be implemented very shortly. Thanks and Regards, Varadarajan Kasturi..

To the team of Equitymaster , I became a member in January 2016 and am very impressed by your website and the ideals you stand for. Making profit or loss is a different issue altogether. Taking calculated risks and playing Russian Roulette are two differe..

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Mr. Vivek Kaul once again interpret numbers like a politician - Don't see any difference between him and our politicians - be it ministers in govt. or opposition. I think he has forgotten economics in his eagerness to score political brownie points. Recen..

A former defense and trade minister, Nirmala Sitharaman became the first woman finance minister of India after Indira Gandhi.

She has inherited an economy facing a number of risks.

She faces immense challenges as finance minister. India's economy is starting to splutter on the back of a slow-down in consumption and private investment.

Fixing this and jump-starting the economy are the first order of business.

The data released on Friday was disappointing at different levels.

Lower growth in GDP, stagnant growth in core sector in April 2019, and the government just about managing the 3.4% deficit number in FY19 pose puzzles for the new Cabinet which assumes responsibility of kick-starting the economy.

A look at key macroeconomic indicators presents a gloomy picture.

Sinking GDP Growth Means FM Nirmala Sitharaman has to Push for Sweeping Reforms

According to the data released by the Central Statistics Office on Friday, gross domestic product (GDP) grew by only 5.8% in the last quarter of financial year 2019 (FY19), between January and March.

GDP Growth Slips to 5-Year Low

The data demonstrates GDP growth slowing steadily, from 8 to 7 to 6.6% in the first three quarters of FY19.

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

India's core economy grew at 4.3% in FY19, its second slowest pace in the past 5 years, down from 4.9% in FY15, according to latest data by the ministry of commerce and industry.

The 8 core industries include Coal, Crude Oil, Natural Gas, Refinery, Fertilisers, Steel, Cement, and Electricity.

8 Core Sectors Report Flat Growth in FY19

The growth rate is also flat since fiscal FY18 which had also recorded a 4.3% growth.

Manufacturing and Services Sector Activity Decelerates

Core sector growth will have a direct impact on the Index of Industrial Production (IIP) as these sectors account for a major chunk of total factory output.

Worries Rise as Factory Output Shrinks in March

The Index of Industrial Production (IIP) and the Manufacturing Purchasing Managers' Index (PMI) are used to gauge the level of activity in the manufacturing sector.

What Does the PMI Say?

The country's manufacturing sector performance fell to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

However, this was the 21st consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a number above 50 means expansion, while a score below that denotes contraction.

The April PMI data indicated a softer increase in new orders had restricted growth of output, employment, and business sentiment.

Further, the Indian service sector lost momentum in April, with rates of new business and output growth both cooling to seven-month lows.

Indian Service Sector Loses Momentum Too

Falling from 52.0 in March to 51.0 at the start of FY19, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September.

Besides these, there are many other indicators of a slowdown.

A decline in consumer demand, a slowdown in government spending, and weak private investment have likely impacted India's growth in the fourth quarter.

One such high frequency indicator is automobile sales.

What do these numbers indicate?

Vehicle sales are a very important economic indicator about how the people of India feel about their economic prospects.

After all, no one is forcing anyone to buy a car and given that if a consumer buys a car, he chooses to make a down payment and/or take on an EMI.

This is only possible if the consumer is feeling positive about his future economic prospects.

Automobile Sales Skid as Demand Remains Sluggish

On Saturday, India's largest carmaker, Maruti Suzuki, reported a 22% decline in sales in May, the lowest in seven years.

Other auto-makers such as Tata Motors, Eicher Motors, and Hero Moto Corp reported declines in sales too.

All these economic indicators basically provide evidence of the Indian economy slowing down further since January 2019.

Another major area that needs immediate attention by the government, is job creation.

According to a CMIE survey, the unemployment number stands at 41 million people. That is too big a number to be ignored.

Now, job creation at such a mass level won't be a walk in the park. To set the wheels in motion, the government will have to look at infrastructure spending.

Capacity expansion in new projects has seen a gradual slowdown in the past few years.

Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government

From Rs 3.3 trillion in June 2018, the number has come down sharply to Rs 2.1 trillion as of March 2019.

Co-head of research, Tanushree Banerjee believes this is first area the government will look to focus on.

Apart from creating jobs in the infrastructure sector, it opens a lot of other avenues.

Here's an excerpt of what she wrote in The 5Minute WrapUp:

• Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.
  
  This is a trend I see clearly playing out in the coming years.
  
  Infrastructure spending -> Improved roads -> Increased two-wheeler sales.
  
  It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

Typically, when the capacity utilisation rises, it prompts companies to expand their capacities. If this gradual pick-up sustains, it could lead to a pick-up in private sector investment.

Thus, a revival in the investment cycle could be underway despite the current economic slowdown.

And, as far as equity markets are concerned, participants were expecting a weak fourth quarter growth data.

As such, the now published data may not weigh on the market but will raise expectations from the government and the RBI.

The pressure points in the form of finance, tax rates, infra expenditure, specific sector-related policies etc, must be addressed.

While the weak GDP data will be an important input for the Union Budget.

Most investors are now keen to know what's in store in the first week of July.

Warm regards,
Rini Mehta

In under 3 years, Yes Bank has gone from being a darling of investors to a pariah. Here's a look at the events that led to the crisis in 10 points.

1. 2017: RBI forces Yes Bank to disclose that there is big divergence in its non-performing loans of Rs 42 billion reported in the company's audited accounts for the year ended March 2016. The divergence further widened to almost Rs 64 billion a year later. To put this in perspective, the RBI audit had pegged its total gross non-performing assets (NPAs) at 5% for FY16, against the bank's own assessment of only 0.8% for the same year.
2. September 19, 2018: Not surprisingly, a year later, RBI refuses to give Yes Bank CEO Rana Kapoor an extension to his term as MD. The apex bank asks Kapoor to step down by end of January 2019. Kapoor fights back...but it always seemed like a battle he was set to lose.
3. November 27, 2018: Rating agency Moody's cuts bank's rating outlook to 'negative' from 'stable' citing concerns over corporate governance. This is a big whammy...for a bank, its credit rating is everything.
4. January 24, 2019: Yes Bank hires the head of Deutsche Bank India, Ravneet Gill, as its new CEO. There's hope...even though Gill has not run a bank of this size before. The stock price rallies 66% in the days following the appointment.
5. May 14, 2019: RBI appoints former central bank Deputy Governor R. Gandhi as additional director to Yes Bank's board - a rare move signaling an increased level of scrutiny on the lender.
   
   Yes Bank reports 91% drop in profit in 1QFY20, provisions surge and gross NPA ratio stands at 5%.
6. October 3, 2019: CEO Gill says bank is in talks with private equity firms, strategic investors and family offices to raise additional capital. Again, this appears to be good news.
7. October 31, 2019: Yes Bank gets binding investment offer of US$ 1.2 billion from a global investor. But this does not go down well as credibility of the likely largest investor is questioned in the media.
8. November 1, 2019: Yes Bank reports bigger-than-expected loss for 2QFY20, NPA to loans ratio swells to 7.4% and provisions swell to Rs 13.4 billion.
9. March 6, 2020: It's been months now and there is little progress on capital raising (other than rumours floating around). RBI takes over Yes Bank's board and imposes a month-long moratorium, imposing a limit of Rs 50,000 on withdrawals.
10. March 7, 2020: Stock price of Yes Bank crashes by nearly 60%. At it's worse the stock was down at Rs 5.7 that day. RBI shares a restructuring plan for Yes Bank...basically a bailout by SBI.

Well, then...that's the Yes Bank timeline. At the time of writing, stock price of Yes Bank was trading up by 31%.

Next time, when you think of buying a banking share...or making a deposit...be sure you understand the risk.

With stock prices gyrating every day to coronavirus related developments, the weekend must come as a relief.

Here's a look at how deep the impact has been felt in the global financial markets:

1. Stock markets worldwide saw sharp losses on Thursday, with the benchmark indices on Wall Street and London saw their steepest daily falls since the Black Monday in 1987.
2. In the US, stocks witnessed a sharp sell-off on Thursday.
   • Thursday's dive follows the intense fall on Wall Street seen throughout the week. The S&P 500 triggered the first circuit breaker of the week on Monday after falling 7%. This fall came after the crash in crude oil prices.
   • The markets bounced back Tuesday, only to retreat on Wednesday after the World Health Organization (WHO) declared the coronavirus a pandemic.
   • At the closing bell, the Dow Jones Industrial Average finished down around 2,350 points (down 10%). The S&P 500 plunged 9.5%, while the Nasdaq Composite Index tumbled 9.4%.
   • Stocks were deep in the red the entire session, which was paused for 15 minutes early in the day. Automatic suspension was triggered after the S&P 500's losses hit 7%.
   • On Thursday, equities erased their losses briefly after the US Federal Reserve announced measures to inject an additional US$ 1.5 trillion in cash into financial markets. The announcement, which came after European markets had closed, sent shares higher, but they dropped back by the end of the day.
3. Coming to the European markets now, the main UK index dropped more than 10% yesterday in its worst day crash since 1987. Losses on the UK's FTSE 100 wiped some 160.4 billion pounds in wealth from the market.
4. Frankfurt had its worst day since 1989, the year the Berlin Wall fell, while Paris suffered its biggest one-day loss on record.
5. However, European stock markets rallied this morning. The signs of a US stimulus package helped soothe fears about an economic shock. At the time of writing, European indices were trading mixed. Shares in London were up 4.1%, while the Paris CAC gained 3.5%. However, the Frankfurt DAX crashed 9.3%.
6. Stocks in Asia also saw consistent sharp falls throughout the week. Japan's benchmark Nikkei 225 index closed 6.1% lower today.
7. Shanghai was down around 1% as the number of new cases in China shrunk and people slowly returned to work in the worst-hit areas.
8. In Asia, circuit breakers were also triggered in many exchanges including India, Japan, South Korea, Indonesia, Thailand, and the Philippines this week.
9. Indian share markets saw their biggest ever single day fall this week. The indices today hit their lower circuit limits within 15 minutes of the opening session. This was seen the first time in 12 years that trading in Indian markets had to be halted. The carnage didn't continue, however, as Indian indices recovered after major free-fall as trading resumed after 45-minute halt.
   
   From there on, it was an upward rally as markets went on to witness buying interest and saw their biggest intraday recovery ever.
10. On a year-to-date (YTD) basis, the worst fall has been witnessed by European markets. Here's a view on how the world markets have performed since January 2020.

US Markets			European Markets			Asian Markets
The Dow	Nasdaq	S&P 500	London	Paris	Germany	Hang Seng	Nikkei 225	Shanghai	Sensex
-27%	-21%	-24%	-31%	-33%	-32%	-16%	-25%	-6%	-17%

This worldwide crash has put March 2020 into the history books. Now, how markets perform in the coming days will be something to watch out.



This article (Worst Week for Global Stock Markets: Coronavirus Impact in 10 Points) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.


Full Article

Coronavirus fears have spooked the investors worldwide with BSE Sensex and NSE Nifty falling over 25% this month, in line with many other global indices.

After sharp corrections in three trading sessions on March 9, March 12, and March 16 by 5.1%, 8.1% and 7.9% respectively, the Sensex crashed by an overall 22% this month.

Let's dive a bit deeper and look at how the impact has been on individual sectors...

1. While all sectoral indices are in a sea of red since the outbreak of coronavirus, here's a look at the worst hit sectors since coronavirus outbreak:

   Sector	Since 1 March (%)	Since 1 Jan (%)
   BSE Metal	-30%	-45%
   BSE Bankex	-31%	-37%
   BSE Oil & Gas	-24%	-36%
   BSE Auto	-24%	-36%
   BSE Finance	-30%	-36%
   BSE Realty	-31%	-36%
   BSE Capital Goods	-25%	-33%
   BSE Power	-22%	-32%
   BSE Basic Material	-26%	-32%
   BSE Consumer Discretionary	-24%	-28%
   BSE IT	-25%	-27%
   BSE FMCG	-18%	-22%
   BSE Consumer Durables	-24%	-20%
   BSE Healthcare	-15%	-15%
   BSE Telecom	-18%	-14%

   *Note that prices are as on 19 March 2020
2. As you can see in the table above, metal sector has been hit the worst on year-to-date (YTD) basis. Note that, the sector has been witnessing selling pressure since last two years. The coronavirus situation has only exacerbated the situation.
3. Another sector that is largely impacted is banking and NBFCs. After being the most preferred in the Indian equity indices for over half a decade, things have changed for stocks in the financial sector. In India it is a double blow for financial sector in the form of YES Bank fallout and prolonged slowdown which increased the chances of credit quality deterioration.
4. To put things into context, foreign institutional investors (FIIs) were heavily positioned in the Indian financial space, and stocks in the sector witnessed maximum inflows during good times. Downward spiral for financial sector began since IL&FS crisis.
   
   Both, BSE Bankex and BSE Finance Index have plunged over 30% since the beginning of the month.
5. Shares of most hotel, leisure and airline firms have tumbled over 60% year-to-date, as the coronavirus outbreak across the world has forced people to cancel vacation plans. India also stand to lose foreign tourists due to the entry restrictions that have been put in place. And this has meant things getting worse for hotels and airlines sector.
6. Out of the 90 stocks listed on BSE from tourism, hospitality and film distribution segments, only 15 have given positive returns YTD.
7. Another sector that's facing the brunt is the automobile sector. Coronavirus couldn't have come at a worse time for India's auto sector that is battling a prolonged slump in demand. The virus outbreak has added to the pain, hitting production and lowering the demand even further as consumer spending is unusually low. Reportedly, the correction in the auto index is now close to what was seen during the 2008 global financial crisis. BSE Auto Index is down 36% on a YTD basis.
8. The fall in other indices like FMCG, consumer durables, capital goods and IT is relatively moderate as they do not have any direct impact of the pandemic. However, they too have been witnessing selling amid the sharp correction in Indian share markets.
9. Interestingly, Indian pharma has been doing much better than the overall index. Since the beginning of March 2020, the Sensex is down by 26% while the BSE Healthcare index is down only by 15% (till 19 March 2020).
   • One factor is the rupee weakness which has weakened well beyond the Rs 75/$ mark. A weak rupee helps exporters and pharma obviously benefits.
   • Another factor is the spread of the novel coronavirus has led global investors to rush for pharmaceutical stocks recently, on back of a rise in demand for generics and branded generics leading to shortages and over-pricing for drugs.
10. However, as the markets took a breather on Friday, the sectors that rallied the most were BSE FMCG, BSE IT and BSE Oil & Gas indices, gaining over 8% each.

What do you think will be the long-term impact for these sectors? Well, you can let us know by dropping your views in the comments section below.

While most sectors have been falling, our co-head of research, Tanushree Banerjee believes in long term, Indian auto ancillaries, textiles, chemical companies, Pharma R&D contract manufacturers, will all be the major beneficiaries of what she calls the Rebirth of India megatrend.

Also, in times like these, our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

Happy Investing!

With the ongoing panic in the global as well as Indian stock markets, there is no end to foreign investors dumping Indian shares.

This wasn't the case a while back. Foreign institutional investor (FII) were making a beeline for Indian equities few months back.

How has this trend been so far this year? What has changed in recent weeks and months? And what's behind the heavy movement of foreign funds in India?

Let us look at some key points to answer these questions...

1. September 2019: FII Money Returns to India Again

   If we track the trend of FII flows in financial year 2019-20, after the Union Budget in July 2019, foreign investors began selling. They pulled out a ton of money from Indian equities.

   Why? Well, they were disappointed with the budget as it did not address the key concerns the economy was facing.

   However, the month of September was a different ballgame altogether as foreign money once again made its way into Indian equities. Not surprisingly it was also the month in which the Government made amends for its failed budget.

   This is evident in the chart below:

   September 2019: Foreign Money Returns to India Again

2. 3rd Quarter 2019-20: FIIs Keep Pouring Money in Indian Equities

   There were two reasons behind the above FII rush to Indian equities:

   1. Clarification by the FM that the tax on the super-rich was not applicable on foreign investors
   2. Cut in corporate tax rates, among other efforts, that had the potential to make Indian manufacturing globally competitive

   Both the above points strengthened the case for investing in Indian for FIIs.

   And they kept on pouring money in the following months.

   Here's how much money came by FIIs to Indian stock markets in the third quarter of FY20:

   Month	Net Investment (Rs, m)
   Oct-19	85,956
   Nov-19	129,249
   Dec-19	6,941
   Total	222,146

   Data Source: Equitymaster

3. 2019: Best FII Flows in Six Years

   Overall, in calendar year 2019, FIIs pumped in a net of more than Rs 1,000 bn (billion) in Indian stocks. This made it their best such infusion in six years. The previous high was Rs 1,130 bn in 2013.

4. 2020: The Downtrend Starts

   The buying trend, however, didn't last long. FIIs rushed out of India amid concerns of slowing economic growth and high stock valuations.

   In the month of January, they pulled out Rs 126.8 bn from Indian stock markets.

5. Feb-Mar 2020: Coronavirus Triggers FII Sell off

   The selling intensified further in February and March 2020. The major trigger was the coronavirus led panic sell-off across global financial markets.

   In February and March, Nifty and Sensex corrected sharply. It was not just Indian share markets but even global indices like the Dow Jones, NASDAQ, FTSE, DAX, CAC and the Nikkei that witnessed the brunt.

   In the Indian context, the stock market correction was exacerbated by the weak foreign investor sentiments. The real surprise was not the FII selling. It was the ferocity and the intensity of the selling in such a short span of time.

   From February 14th, the FIIs have been sellers on all days except one.

6. March FII Outflows to date to Surpass the 2008 Crisis Level

   So far in March, FIIs have sold a net of Rs 478.9 bn of Indian shares.

   And this makes the outflows of the month set to surpass the 2008 crisis level.

   While India is still better placed relative to other emerging market peers, the wipe-out has been massive.

What Should Market Participants Do?

There is no denying that FIIs play an important role in the Indian stock markets.

Strong FII participation is good from the domestic investors' point of view in the sense that it leads to enhanced liquidity and greater depth in the market.

However, in the event of FIIs pulling out on a larger scale and a free fall in the markets, the correction in valuations of fundamentally solid companies would be just temporary. It may in fact offer some lucrative value buying opportunities.

How do you zero in on these opportunities?

Our special report, How to Trade the Coronavirus Crash, has the answer. Just claim your FREE copy here...

Stock markets around the world witnessed one of the most painful correction phases in the month of March 2020.

Indian stock markets too mirrored the trend.

Here are six charts showing how Indian financial markets performed in March 2020.

1. Record Wealth Destruction
   
   

   In the month of March 2020, the Sensex fell as much as 23%.

   It is not the month where the market has fallen the most. That honor goes to October 2008 where markets tanked 23.9%, beating the 23.1% the market lost last month by a whisker.

   However, March 2020 wins hands down in wealth destruction.

   Wealth destruction of Rs 4.4 lakh crores back in 2008 pales in comparison to the Rs 14.6 lakh crores worth of wealth destroyed on the Sensex in the last month alone.

   March 2020 the Second Worst Month in History

2. Huge Selling Pressure for Individual Stocks
   
   

   Except two, all the stocks in the BSE Sensex plunged in March 2020.

   The decline was mainly led by banking stocks and financial stocks.

   Stocks such as IndusInd Bank, Bajaj Finance, and Axis Bank fell as much as 40%-70%.

   Top BSE Gainers and Losers in March 2020

3. All Sectors in a Sea of Red
   
   

   Among sectors, all the BSE indices gave negative returns in March 2020.

   BSE Realty, BSE Bankex, BSE Finance, and BSE Auto Index fell more than 30%.

   It was a double whammy for banking and finance stocks that witnessed most of the brunt on the back of coronavirus outbreak and Yes bank crisis.

   Worst Hit Sectors in March 2020

4. Crude Oil Slumps Over 50%
   
   

   Crude oil crashed over 50% in March 2020.

   The fall was seen because of oversupply amid subdued demand.

   Oil prices crashed last month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

   Oil markets faced a double whammy from the coronavirus outbreak and a price war between Saudi Arabia and Russia after OPEC and other producers failed to agree on deeper cuts to support oil prices in early March.

   Shares of oil marketing companies such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), GAIL, ONGC, Indian Oil Corporation (IOC) and Indraprastha Gas were in focus in March amid record low crude oil prices.

   They witnessed buying interest and capped most losses led by the stock market crash.

   In his latest video, Ajit Dayal shares his views on the impact of the coronavirus crisis and the oil price war on the Indian economy and the stock market. You can view the same here.

   Crude Oil Continues Free Fall

5. Gold Prices Shine
   
   

   Base metals also remained under pressure as lockdown imposed in several parts of the world curbed demand, pushing stockpiles higher.

   However, gold prices rose 3% in March 2020 as demand for the safe haven asset rose with market participants bracing prolonged uncertainty in the wake of the novel coronavirus outbreak.

   To know more about gold, you can check one of Vijay Bhambwani's recent articles here: Is the Price of Gold About to Go Higher?

   Gold Witnesses Buying

6. Rupee Hits Record Low in March 2020
   
   

   Massive sell-off in equities and bonds led to a huge fall in rupee against the dollar in the month of March.

   The rupee hit a record low of 76.32 against dollar earlier this week.

   Most of the selling pressure for rupee was seen on the back of slump in equities and currencies globally. Investors were concerned that support measures from governments and central banks may be insufficient to halt the economic damage caused by the coronavirus pandemic.

   Rupee Continues Downtrend

So, that was a round-up on how Indian financial markets performed in the month of March 2020.

At times like these, while we must do everything we can to guard against the coronavirus, we must not ignore our money.

Our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!

Most sectors in the Indian share markets have been drowning in a sea of red due to the crash led by coronavirus outbreak. The biggest blow, however, has been felt by the banking sector.

The sector was already reeling under pressure due multiple factors for quite some time. And things started getting worse since the start of 2020.

Here's a timeline showing some major events that happened in the Indian banking sector and led to the slowdown we are witnessing in the past few months...

1. Mounting Pile of Bad Loans: Indian banks have for years worked to beat down mounting piles of bad loans of the sort that led to the Yes Bank fallout. The ratio of gross non-performing assets (NPAs) at Indian banks rose to 11% in 2018 from about 2% in 2008, before starting to ease off.
2. IL&FS Crisis Kicks Off the Downward Spiral: Foreign institutional investors (FIIs) were heavily positioned in the Indian banking and financial space, and stocks in the sector witnessed maximum inflows during good times. However, they started noticing cracks with consistent negative performance in the banking and financial sector and started moving out of them. The downward spiral for these sectors began since IL&FS crisis camec out into the open.
3. Credit Quality Deteriorates: After being the most preferred sector for over half a decade, things started changing for stocks in the banking sector since 2020. This came as the sector witnessed a double blow in the form of YES Bank fallout and prolonged economic slowdown. And all this only led to credit quality deterioration for banks.
4. YES Bank Crash: The Yes Bank crisis and the sight of Rana Kapoor being taken to court in early March came in as one of the worst months for India's banking sector.
5. Bailout for Yes Bank: To save Yes Bank, a range of Indian lenders led by the State Bank of India (SBI), infused funds in return for an equity stake. The episode came as a jolt to investors, who worried it could exacerbate vulnerabilities in the financial system.
6. Panic Selling Amid SC Order: Then came another blow. Before the dust settled on Yes Bank, the Supreme Court ruled that telecom operators must pay dues worth billions owed to the government. This caused panic-selling in bank stocks due to their heavy exposure to the telecoms sector.
7. Coronavirus Threat: The challenges now facing India's banking sector have reached another order of magnitude due to the coronavirus threat to the economy. Banking stocks have been among the hardest hit.
8. Sharp Fall for BSE Bankex: The BSE Bankex has fallen about 46% so far this year, outpacing the 32% fall in the BSE Sensex. Shares of Axis Bank and IndusInd Bank have lost the most during this period.
9. Relief Measures: Owing to all these shocks, banks have sought various relief measures. On 27 March 2020, the Reserve Bank of India (RBI) came out all guns blazing to arrest a potential slowdown caused by coronavirus (Covid-19). It did not just lower the cash reserve ratio (CRR) by 1% to 3% but also cut the repo rate by 0.75%. Also, there is a three-month moratorium on payment of loan installments.
10. PSB Merger: Then came the major announcement effective from 1 April 2020. First announced in August 2019, the government's ambitious plan to merge 10 state-owned banks into four came into effect from 1 April 2020. The move, aimed at strengthening the banking system and creating more large institutions with size and scale, has seen...
    • Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank,
    • Andhra Bank and Corporation Bank merged into Union Bank of India,
    • Allahabad Bank merged with Indian Bank, and
    • Syndicate Bank amalgamated into Canara Bank

So, that were some top pointers on what the Indian banking sector has been going through amid the coronavirus led stock market crash.

I reached out to Tanushree Banerjee, who is closely tracking the banking sector in the current scenario. Here's her view on the sector...

• The Covid-19 lockdown has hit cash flows of both individual borrowers and corporates. This, in turn, will impact their loan repayment capability.
  
  The RBI's repo rate cut came as a temporary lifeline for Indian companies with debt on books. It will offer both companies and retail borrowers some breather. If banks use this phase judiciously, it may save the NPA ratios from worsening significantly.
  
  However, only the banks that have adequate capital and provisioning cushion may be able to tide over the economic crisis. Eventually, another round of consolidation in private sector banks, like the one after 2002, cannot be ruled out.

Tanushree's latest StockSelect recommendation is one such midcap bank.

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As all-rounder, Ravindra Jadeja shared a video to show-off his swashbuckling swordsmanship, former England skipper Michael Vaughan left a cheeky comment on the Instagram post.

Jadeja had shared a video on Instagram on Sunday to show off his trademark swordsmanship. However, taking the note of the grass in Jadeja's lawn, Vaughan replied: "Your grass needs a mow rockstar".

On Sunday, the left-handed Jadeja was displaying various moves with the sword in the video posted on Instagram.

 

 

 

View this post on Instagram

A “SWORD” MAY LOOSE IT’S SHINE,BUT WOULD NEVER DISOBEY IT’S MASTER. #rajputboy

A post shared by Ravindra Jadeja (@royalnavghan) onApr 12, 2020 at 6:45am PDT

The cricketer is very-well trained in swordsmanship and he has also made it popular by swinging his bat like a sword in cricket matches whenever he crosses the mark of 50 or 100.

Last week, Australian batsman David Warner had also shared a throwback video from the last year's Indian Premier League (IPL) in which he was swinging his bat like a sword.

The SunRisers Hyderabad skipper was swinging the bat like a sword for a commercial and he immediately broke into laughter once the director said cut.

 

 

 

View this post on Instagram

Throwback to this time last year to a commercial we were doing for @sunrisershyd Do you think I’ve got @royalnavghan covered for the sword?? 😂😂

A post shared by David Warner (@davidwarner31) onApr 7, 2020 at 11:21pm PDT

Warner had also asked the fans to give their opinion on as to how he did as compared to Jadeja.

With the country battling COVID-19, all sporting activities have been either postponed or stand cancelled. The upcoming Indian Premier League (IPL) has also been suspended till April 15.

Jadeja is part of the IPL franchise Chennai Super Kings and he would have been in action if the tournament had started as planned on March 29.

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Former Australia batsman and Sri Lanka's 1996 World Cup-winning coach, Dav Whatmore is set to become the Baroda Ranji Trophy team's first overseas coach.

Whatmore, 66, who coached Kerala for the last three seasons, will replace Sanath Kumar as head coach of the team. He will also be the Baroda Cricket Association's cricket director for next two seasons.

"We have almost finalised Whatmore and will give him a letter of intent in a couple of days. Chandrakant Pandit and Sulakshan Kulkarni were also in the fray, but Pandit became coach of Madhya Pradesh, so we decided to go with Whatmore," BCA secretary Ajit Lele told mid-day on Monday.

Ajit, the son of former BCCI secretary Jaywant Lele, also revealed that Whatmore will be the most expensive first-class coach in India. "He will become the most expensive coach of a first-class team in our country and also the first foreign coach of a Baroda Ranji Trophy team. He has huge experience of handling national teams like Sri Lanka, Pakistan and Bangladesh so we gave him priority," Lele remarked.

Whatmore's manager Kaustuv Lahiri, who also manages South Africans Lance Klusener (head coach of Afghanistan) and Russell Domingo (Bangladesh's head coach) confirmed the development. Baroda, who were Ranji Trophy champions in the 2000-01 season, managed to win just two games for 14 points in eight matches last season.

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South African swashbuckler AB de Villiers says he doesn't want to create any "false hopes" of a much-awaited comeback at the T20 World Cup this year, which, he feels, could be postponed due to the COVID-19 pandemic. The outbreak of COVID-19 has forced the cancellation or postponement of many events but the T20 World Cup remains on schedule in Australia later this year for now. "I can't see six months into the future. If the tournament is postponed to next year a whole lot of things will change. At the moment I feel available, but at the same time I don't know how my body will see it and if I will be healthy at that time," De Villiers told Afrikaans-language Sunday newspaper 'Rapport'.

"...I might get to a point where I have to tell 'Bouch' (coach Mark Boucher) I was interested, I would like to play a role but I'm not going to be able to play myself. I'm afraid of such a commitment and creating false hope," he added. De Villiers said he does not feel entitled to walk into the South African team as has been alleged in the past. "If I am 100 per cent as good as I want to be, then I will be available. But if I am not I won't open myself up to that because I am not the type of person who does things at 80 per cent. Then I have to do trials and show 'Bouchie' I'm still good enough. "They should choose me because I'm really better than the guy next to me. I've never been the type of person who felt I should get just what I wanted."

The T20 World Cup in Australia in October and November could be a perfect stage for de Villiers coming back but he was mindful of avoiding a repeat of the debacle that unfolded during last year's 50-over World Cup in England after reports emerged that he casually expressed offer to come back and was rejected. "I am uncertain about giving a definite answer because I have been very hurt and burned in the past. Then people will again think I have turned my back on our country. I can't just walk into the team. "...I have to work for my place and deserve it. It was very hurtful for me last year when people thought I assumed there was a place for me. I feel available and I will give it a go with everything I have, but I don't want special treatment."

If de Villiers can make a comeback, the credit would go to South Africa coach Mark Boucher, who convinced him to rethink his retirement decision, taken in 2018. "I could write a book on 'Bouchie's impact just on my life, never mind cricket. I rediscovered that when I played under him at the Spartans (in the Mzansi Super League) in December. He was born to be an instructor. When he talks there's respect." "'Bouch' asked me why don't I give it another go," de Villiers said. "I've always said to him, 'I've never not wanted to be there. I've always wanted to be there. It's just, my life has changed'." De Villiers played in 176 of Boucher's 461 matches for South Africa across the formats.

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With people finding various ways to spend time during quarantine amid the Coronavirus pandemic, a Brazilian model challenged her cricket coach boyfriend to teach her how to bat during the 21-day isolation period.

And they are doing it. According to a report in dailymail.co.uk, Coco Cuhna suggested her boyfriend Gio Colucci that it might be fun to see if he could show her how to bat. "I was joking...he took it very seriously," Coco said.

"I thought Oh my gosh, what have I got myself in for!" Coco revealed she is spending 25 minutes a day learning how to pull, cut and drive from Gio, who is a director at The Cricket Academy in Cape Town, South Africa and has coached the likes of England batsman Tom Wesley, Derbyshire captain Billy Godleman and Ben Curran, brother of England duo Tom and Sam.

"I had never had any contact with cricket before, I never even knew about it before I moved to South Africa," said the Brazilian model. However, after a fortnight, Coco is now enjoying the drill.

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Former Pakistan leg-spinner Danish Kaneria might be currently serving a life ban for his involvement in fixing, but he has once again taken the attack to the Pakistan Cricket Board saying that he wasnt supported enough by the PCB.

In a YouTube video, former Pakistan skipper Inzamam-ul-Haq had spoken about how Brian Lara had taken Kaneria to the cleaners even though the Pakistan captain had placed fielders on the boundary and thereby shown his true class.

But taking to Twitter, Kaneria wrote: "I have taken @BrianLara's wicket 5 times in my career. He was a good cricketer. If PCB had supported me, I would have broken many big records."

Describing the episode, Inzamam had said: "Kaneria bowled a googly and Lara hit the ball back towards the bowler, coming out of his crease. Danish said ‘well played Brian', which prompted Lara to say ‘okay sir'. The next three balls were all dispatched over the boundary.

"I was the captain of the side so I went over to Danish and told him to tease Lara a bit more. I felt he was angry so we might make him throw away his wicket. I placed the fielders on the boundary in anticipation of big shots but he still managed to outfox us by hitting Danish to all parts of the ground."

Kaneria had earlier asked Yuvraj Singh and Harbhajan Singh to help the hindus in Pakistan as they fight the coronavirus outbreak.

"I request @YUVSTRONG12 and @harbhajan_singh to make a video for the minorities living in Pakistan as well. They need your help in this moment of #coronacrisis," Kaneria had said in a tweet.

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Former Indian cricketer Joginder Sharma, who is now serving as a Deputy Superintendent of Police in Hisar district of Haryana, is currently making sure people stay indoors and adhere to the guidelines of the government during the ongoing lockdown in place amid the coronavirus outbreak.

And for discharging his duties, he has to be available 24/7. As he comes in contact with many people, the former Indian cricketer said that he doesn't even go home to avoid any risk after his duty hours end. However, on Sunday, he finally got a chance to meet his family in Rohtak, 110 kilometres from Hisar.

"Finally, after a long, I got time to spend with my family...Motivating kids to be strong and stay happy at home…," Joginder tweeted along with a video of him playing cricket with his children.

Finally After a long,I got time to spend with my family...Motivating kids to be strong n stay happy at home.. pic.twitter.com/Ie3xXfhCic

— Joginder Sharma (@jogisharma83) April 12, 2020

Joginder recently gave an interview wherein he divulged the details of his routine as a DSP.

"My day starts around six in the morning. Today I started at 9am and am returning home now (8pm). But I need to be ready for emergency calls, so effectively I am available for duty 24 hours, and I can't say no," Joginder said.

"The area that I need to oversee is mostly in the rural belt of Hisar. Right now, it involves guarding various check-posts and instructing not just truck and bus drivers but also common people about the virus. The basic message is: do not get out of the house unless you need to. If someone is outside without any purpose, we can sanction them under various legal acts," he added.

The former medium pacer had a short international career of four ODIs and four T20Is but was immortalised when he took the wicket of Misbah-ul-Haq in the 2007 World T20 final against Pakistan in South Africa.

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Former Pakistan first-class cricketer Zafar Sarfraz has died of COVID-19. According to a report in geo.tv, Zafar succumbed to the novel coronavirus at the Lady Reading Hospital late Monday. The 50-year old is the first professional cricket player from Pakistan to succumb to the coronavirus, after testing positive last Tuesday. He had been on a ventilator for the past three days, hospital officials added.

Zafar, a left-handed batter and slow left-arm orthodox bowler, played first-class cricket from 1988 to 1994 and List A cricket from 1990 to 1992. He made 616 runs from 15 first-class games for Peshawar and also had 96 runs from six one-day games before retiring in 1994 and moving on to coach both the senior and the Under-19 Peshawar teams in the mid-2000s.

Zafar was the brother of late Pakistan international cricketer Akhtar Sarfraz, who went on to play four ODIs between December 1997 and October 1998, scoring 66 runs in four innings.

Last month, great Pakistani squash player Azam Khan had also died of novel coronavirus at the age of 95. Azam, who won four consecutive British Open titles between 1959-62, had tested positive for COVID-19 in March end and breathed his last in London's Ealing Hospital.

Over 5,000 confirmed coronavirus cases have been reported so far in Pakistan, including 96 deaths.

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Indian spinner Ravichandran Ashwin on Tuesday revealed the misconception he had about cricket while growing up.

The International Cricket Council had posted a tweet, asking everyone to reveal the misconception they had about cricket growing up.

To this Ashwin replied: "That all cricketers had aerated drinks to regain lost energy and keep good health".

Ashwin was last seen in action during India's two-match Test series against New Zealand in February this year.

The off-spinner played just one match in the series and went on to take three wickets in it.

India ended up losing the series 0-2, but the side is still at the top of the World Test Championship standings.

All sporting action across the world has come to a halt due to the coronavirus pandemic.

Ashwin would have been in action for Delhi Capitals in the Indian Premier League (IPL) if the tournament had started on March 29.

However, the tournament was postponed until April 15 due to the coronavirus pandemic.

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New Zealand pacer Matt Henry will not be playing for England's county Kent Cricket due to the ongoing COVID-19 pandemic and disruption to the 2020 county cricket season.

"Kent Cricket can confirm that New Zealand International Matt Henry will no longer be joining the Club for the first seven County Championship matches of 2020," the club said in a statement.

Henry was due to join Kent - for whom he starred in 2018 - for seven County Championship games at the start of the season, but with all professional cricket cancelled in the UK until May 28 at the earliest, it became clear that he would be unable to play for the club.

The Kiwi player becomes the fourth player - after Nathan Lyon, Cheteshwar Pujara and Michael Neser - to miss out on a stint in county cricket due to the virus.

Paul Downton, Kent's director of cricket, said: "Once the decision was announced by the ECB that there would be no cricket until at least the end of May it became inevitable the Matt would not be returning to Kent this season."

"The club continues to enjoy a good relationship with Matt. He has many friends here and the overwhelmingly positive feedback we received when we announced that he would return in 2020 is a measure of Matt himself: he's a fantastic person on and off the cricket field," he added.

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Indian cricket team head coach Ravi Shastri on Wednesday urged people to beat coronavirus by staying at home and by maintaining social distancing. He termed the virus 'mother of all World Cups' and asked people to combat this disease together and win the World Cup of humanity.

Taking to Twitter, Shastri shared a video post where he cited cricket examples to aware people about the seriousness of the COVID-19 pandemic. "As I would know, sports teaches you life lessons that can be applied to just about anything you want to pursue in rest of your life. Today the COVID-19 has put us in a situation where we got our backs to the wall. To combat this coronavirus is like chasing a World Cup where you give your everything in trying to win it. What's staring you at the face is no ordinary World Cup. This is the mother of all World Cups where not just eleven are playing but 1.4 billion are in the playing arena and competing. Guys we can win this. For that, we have to observe the basics. You have got your Prime Minister leading from the front ahead of the curve like other countries have farmed out," Shastri said.

Stay Home, Stay Safe! 🙏#Lockdown2 #COVID19 #StayHome #IndiaFightsCorona pic.twitter.com/JQTZVib2in

— Ravi Shastri (@RaviShastriOfc) April 15, 2020

"You have to obey the orders that come from the top: be it centre, state or the frontline workers who are risking their lives. Two orders that stand out: staying home and maintaining social distancing. It is not easy but to win the game you got to go through the pain to break the chain and see the gain. Come on, guys! let's do it together. Let us get out there in a bruit force of 1.4 billion and beat this corona and get your hands on the World Cup of humanity. Let's do it," he added.

With 1,076 new COVID-19 cases reported in the last 24 hours, India's tally of coronavirus cases has risen to 11,439, said the Union Ministry of Health and Family Welfare on Wednesday.

Out of the total tally, 9,756 cases are active while 1,306 patients have been cured/discharged and migrated. With 38 new deaths reported in the last 24 hours, the death toll rises to 377.

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India women’s cricketer Smriti Mandhana posted this picture to her two million Instagram followers, enjoying lunch with her parents during the Coronavirus lockdown. “Nothing compares to Maa ke hath ka khana and Papa ki kahaniya sunna [food cooked by mom and listening to dad’s stories],” she captioned the post that went on to receive nearly four lakh ‘likes’ within a few hours.

See the full post below.

 

 

 

View this post on Instagram

Nothing compares to Maa ke hath ka khana and Papa ki kahaniya sunna😇🥰

A post shared by Smriti Mandhana (@smriti_mandhana) onApr 14, 2020 at 9:48am PDT

Smriti Mandhana is part of the Indian women's cricket team and is one of the most instrumental batswomen in the team. Smriti Mandhana won the  International Woman Cricketer of the Year in 2019. In the same year, Mandhana also became the third-fastest women's player to score 2,000 runs in ODIs. At age 22, she was also the youngest women's T20I captain for India eves. She has 4 centuries and 17 fifties in women's ODIs.

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Pakistan Cricket Board chairman Ehsan Mani has asserted that the PCB will not agree to cancelling the Asia Cup, scheduled in the UAE in September, to make room for the Indian Premier League, which has been postponed due to the COVID-19 pandemic. The IPL was to be held from March 29 to May 24 but has been postponed indefinitely because of a extended lockdown to combat the deadly virus in India. "I have read and heard about these speculations but right now just remember that having or not having the Asia Cup is not a decision between Pakistan and India it involves other countries as well," asserted Mani here on Tuesday.

Pakistan were to host the event but it was shifted to Dubai and Abu Dhabi after India expressed reluctance to come here owing to security concerns and the strained diplomatic ties between the two countries. "...it is important to have the Asia Cup if cricket activities resume by then because development of Asian cricket depends on funding from the tournament. It is important for many countries who are members of the Asian Cricket Council," he added in a podcast released by the PCB.

However, he also conceded that holding the Asia Cup this year is a big challenge because right now "we don't know if it can be held or not." "But if the conditions change and we can have the Asia Cup, it must be held as earnings from it are distributed as development funds to member countries for next two years," he said.
He said reports about the Asia Cup being hosted by Bangladesh or UAE were mere speculation at this stage.

Speaking about another big event, Mani warned that if the T20 World Cup, to be held in Australia in October-November, is postponed, the financial fallout will be big for many countries. "The financial impact will be felt by many countries if the ICC can't distribute their shares from the tournament. Many countries including Pakistan will feel the pinch," he admitted.

Mani confirmed that Pakistan was to receive around USD 7 to 8 million in June and January. "Pakistan is fortunate it has good financial controls in place and in short term, it will be better off than most countries if the lockdowns continue because of the coronavirus pandemic," he claimed. "We are to get 7 to 8 Million dollars from the ICC in June but we know they might not come so we have planned accordingly," he added.

On whether Pakistan's forthcoming tours to Holland, Ireland and England between late June and August will gohead, Mani said the PCB was prepared for disruptions.
But he ruled out resumption of international cricket in empty stadiums. "Empty stadiums also offer their big challenges as teams have to travel by air and stay in hotels so the risks start there. The logistical arrangements have to be manageable," he explained. Mani said Pakistan was prepared to show goodwill and flexibility and support the hosts of these tours.

"We wouldn't mind if two series are held at the same time like one team playing Tests and another white-ball cricket. In these difficult times we need to support each other," he said. Mani also revealed that Pakistan had shown interest in hosting several ICC tournaments to be held between 2023 and 2031, including the ICC Youth Cup and World Cups.

"Unfortunately the last time the cycle of ICC events were bid for the big three, India, Australia and England distributed all the main events among themselves. This time I can say there are more countries interested in hosting the events," he said.

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India's limited-overs vice-captain Rohit Sharma has become brand ambassador of 'CricKingdom', a cricket academy based here which will also facilitate coaching through its online platform after the global COVID-19 pandemic subsides.

CricKingdom's online platform "will connect student, coaches, academies and facilities into an integrated ecosystem'. It will help in booking of coaches, ground/nets along with management of academies. "CricKingdom seeks to merge the time-tested theories that has produced legends in the game along with modern scientific training methodologies," Rohit was quoted as saying in the press release.

"The vision is far-sighted and it seeks to make every aspect professional and structured," said Rohit, who is also being proposed to be a Director. The academy also has Mumbai medium pacer Dhawal Kulkarni as one of its mentors. There are at least 20 coaches associated with this venture and most of them have worked at the grassroots and junior level. Notable names include Pradeep Ingale, Parag Madkaikar, Subhash Ranjane and Prathamesh Salunkhe. The coaching on offer is for four categories -- from 5-8 years, 8-13 years, 13 years and above and club and elite level cricketers.

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The International Cricket Council (ICC) is 'exploring all options available' to them to complete the World Test Championship amid the coronavirus pandemic. "We are continuing planning for ICC events as they are but given the rapidly evolving situation as a prudent and responsible measure we are also undertaking a comprehensive business contingency planning exercise," a source within ICC told ANI. "This includes exploring all options available to us based on a range of scenarios connected to the pandemic," the source added.

The source further added that as of now, no decision has been taken. The coronavirus pandemic has taken a huge toll on sports all across the globe and cricket also had to bear the brunt of the deadly virus as several series have been postponed owing to COVID-19. In the ongoing World Test Championship, a total of 71 Test matches will be played across 27 series over two years. The championship began on August 1 last year when Australia faced England in Ashes.

The top two teams will then contest in the ICC World Test Championship final in June 2021 in the UK. Currently, India hold the top spot on the World Test Championship table with 360 points followed by Australia and New Zealand with 296 and 180 points respectively.

The second ICC World Test Championship will run from July 2021 to June 2023.

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Cricketer-turned-politician Gautam Gambhir has called upon all countrymen to stand united and adhere to the guidelines of the government amid the ongoing lockdown in place in order to win the battle against coronavirus pandemic. "We can only win this war if we stand together and the most important thing is to follow the guidelines," Gambhir said while speaking on Star Sports 'Cricket Connected' show. "If we have been asked to stay at home and not leave our house at any circumstance then it's really important for us to follow this, as it is for the betterment of our nation," he added while requesting people to stay indoors and maintain social distancing.

"Since we were talking about donations, according to me there's no limit, if a person gives one rupee with the right emotion, it's a very big contribution," the former Indian opener further said while calling on people to make a contribution in fight towards COVID-19 which has so far claimed more than 400 lives in the country. Gambhir, who is also a BJP MP from East Delhi, has donated Rs one crore to the Delhi Government for procurement of medical equipment and treatment of COVID-19 patients in the national capital.

Besides that, he has pledged to donate his two years' salary towards Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) and has already released Rs one crore out of his MP Local Area Development Scheme (MPLADS) Fund towards the relief efforts amid the coronavirus outbreak. Speaking about how he spends time at home during the lockdown, the 38-year-old said: "I have been given a responsibility during this lockdown to maintain the plants and the lawn in our garden."

"But the interesting part is that I've been watering the lawn for three days, but there's still no grass growing. Just as (VVS) Laxman does not listen to me, so also does this grass not listen to me," he added.

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Indian opener Shikhar Dhawan is making most of the forced break by spending quality time with his family at home with the ongoing lockdown in place due to the coronavirus pandemic.

From washing clothes to playing and training with his kids at home, Dhawan has been keeping himself busy with all kinds of different activities.

On Thursday, he posted another video of him dancing with his son Zoravar on a popular Bollywood song "Daddy Cool".

"Life is so much fun with this mastikhor insaan! Sachi bolu toh daddy aur beta dono hi cool! Love this little one," the left-handed opener captioned the video on Instagram.

Recently, he had revealed he is trying his hand at playing a flute and honing his overall musical skills.

"Playing a musical instrument, the vibrations you can feel inside your body. Music gives you peace and everybody should try to learn how to play a musical instrument now especially because we have so much time to spend at home due to the lockdown," Dhawan had said while chatting with India middle-order batsman Shreyas Iyer on Instagram Live.

Before that, the southpaw alongwith his wife Ayesha, had recreated popular Bollywood number "Dhal gaya din, ho gayi sham" from the movie �Hamjoli'.

The 34-year-old had earlier posted a hilarious video in which he was seen washing the clothes of the house and in the background the Bollywood film song- 'Jab se hui hai shaadi, aansu baha hoon ...' was playing.

In normal circumstances, Dhawan would have been currently involved in the 2020 edition of the Indian Premier League (IPL) which now stands "indefinitely suspended" due to COVID-19 pandemic.

The entire sporting calendar has come to a grinding halt with the coronavirus outbreak which has claimed more than 1.4 lakhs lives across the world thus far.

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YouTube is becoming more than just a great ally during the Coronavirus-caused lockdown. On Friday, ace cricket statistician Mohandas Menon stumbled upon something that could force a change in the record books if dug deeper.

Menon happened to watch a Pathe Films news clip of the 1936-37 Ashes Test in Brisbane, where Gubby Allen’s Englishmen were in early trouble against Don Bradman’s Australia on a sticky wicket.

Arthur Fagg, who came in at the fall of TS Worthington’s wicket, is seen being caught by a short midwicket fielder. However, in the scorecard of that Test, Fagg is mentioned as caught behind by Bert Oldfield off Ernest McCormick for four.

Worthington departed, caught by Oldfield off the first ball in the Test.

Arthur Fagg

“While watching the 1936/37 #Ashes series - the 1st Test at Brisbane (4 Dec 1936), I find that England’s Arthur Fagg in the first innings was caught by a fielder at short mid-wicket and not by wicketkeeper Bert Oldfield. But all sources since then, ie in the last 83-and-a-half years have recorded it in the scorebooks as ‘caught Oldfield’. Time to change this error,” wrote Menon on his Facebook page. When this writer asked Menon what made him compare the footage to the scorecard, he replied: “Usually, when I watch old film clippings, I keep the scorecard ready so I can match the unknown players who are batting, bowling or fielding.”

There is a small possibility that the producers of the newsreel may have got the batsman wrong and the scorecard is right, but with Australians being no slouches when it comes to digging up archives (one Aussie recently found coloured footage of Bradman’s last competitive game at the Sydney Cricket Ground in February 1949 in his garage), this case is worth digging up. If the footage is right, will there be a change in Oldfield’s 130 Test dismissals?

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The International Cricket Council (ICC) is not in a hurry to take a decision whether the T20 World Cup should be postponed in the wake of COVID-19 or staged as scheduled, saying it is "exploring all options" as part of its comprehensive contingency planning for all its events. The T20 World Cup is scheduled to be held in Australia from October 18 to November 15 but with all sporting events either postponed or cancelled due to the global health crisis, the fate of the tournament remains uncertain.

With Australia sealing its borders and putting restrictions on travel to contain the dreaded disease, there have been speculations that the T20 World Cup could be postponed to next year or held inside closed doors. "We are continuing with our planning for ICC events as they are, but given the rapidly evolving situation as a prudent and responsible measure we are also undertaking a comprehensive contingency planning exercise," an ICC spokesperson was quoted as saying by SkySport. "This includes exploring all options available to us based on a range of scenarios connected to the pandemic."

The T20 World Cup is still six months away and ICC said it will take a decision after consulting all stakeholders, including the Australian government. "We will continue to take advice from experts and authorities, including the Australian government and will take decisions at the appropriate time," the spokesperson said. "We will utilise all the data available to us to ensure we can take well-informed, responsible decisions that are in the best interests of our sport."

Former captain Allan Border and star all-rounder Glenn Maxwell have already given a thumbs down to the prospect of the tournament happening without spectators, while former batsman Simon Katich and wicket-keeper batsman Alex Carey feel delaying the event remains an option.

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Binge watching has become the most common activity in the Coronavirus-forced lockdown. Mumbai's India all-rounder Shivam Dube is no different than the rest but his choice is rather unusual.

Dube, 26, who was drafted in the Indian team in place of injured Hardik Pandya (India v Bangladesh T20I series in November 2019), has been watching India's World Cup title campaigns spearheaded by MS Dhoni, for motivation.

India lifted the inaugural World T20 trophy in 2007 and the 50-over World Cup in 2011. "To keep my mindset healthy, I am watching India's two World Cup titles. They inspire me and provide me a pathway for what I can do for my country in the future. It keeps me motivated," Dube told Sunday mid-day on Saturday.

All-rounder Shivam Dube (right) with father Rajesh, mother Madhuri and sister Pooja at their Andheri East residence on Saturday

"I watched the 2011 ODI World Cup final many times because I am confident India can do it again [in 2023]. I also watched the T20 World Cup games several times. I think India are the best team in any format. I am sure we can win these two World Cups again," said Dube, who has featured in 13 T20Is and one ODI. Dube is working hard on his fitness at his Andheri East home. He was part of the Royal Challengers Bangalore team in the last IPL, where he scored 40 runs in four games. He was looking forward to playing the IPL again but it has been indefinitely suspended.

"I am missing everything of the IPL. It's difficult but we don't have a choice. We have to stay home and fight the virus," remarked Dube. But there are positives: "I am with my family after a long time, so I am helping my mother, father and sister as much as I can with household chores. I sometimes help my mother with cooking and cleaning. This also helps in bonding."

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The threat of online corrupt approaches does not cause much anxiety to BCCI's head of Anti Corruption Unit (ACU) Ajit Singh, who says Indian players are well aware of the modus operandi of fixers and are quick to report anything suspect. The ICC ACU head Alex Marshall, in an interview to 'The Guardian', said that prolonged lockdown and players using various social media platform could lead to corrupt approaches being made and people need to tread carefully. Singh said BCCI ACU is in control. "...we have made our players aware about the way people approach you and modus operandi through social media. We have told them 'look this is how they (potential fixers and bookies) would approach you'," the veteran IPS officer told PTI in an interaction. "(They will) try and behave like a fan and then try to meet you through someone who may be your acquaintance," he added. "Somehow these elements try and touch base with players. Most of them (India players), whenever it happens, they do report to us that I have got a contact."

Most of the top players, with millions of followers, have been very active online with Q and A sessions on twitter, interactive chats on instagram and Facebook live. So is the BCCI's ACU team tracking the online content? "Whatever can be tracked online, we do that. But obviously the physical verification part of going out and checking locations is out of question in times of a lockdown," he spoke about practical problems. "But if something comes to our notice, it automatically goes into our database and once lockdown is over, we will verify those if the need arises." Singh said the easiest aspect of tracking social media content is that it doesn't require too much manpower. "A few men who know their jobs can do it pretty well," the former DGP of Rajasthan said. But Singh said that, in his two year stint, all current India players have been honest and upright, very aware about their responsibilities. "We are not adversaries of players. The players and ACU are one team. It's the people who are trying to corrupt the games, they are the ones we need to track down." He said that both tracking social media and physical verification of corrupt approaches has its own set of challenges.

"Those who were trying to corrupt the players with physical presence and those using fake IDs on social media handles, converge at some point," he said. "Either it's the same person with a fake ID who tries to approach the player or uses someone on his behalf. So there is a pattern of convergence. One has to follow both the lines," he added. Singh said even former players have approached the ACU when they have found something unusual. "There have been things coming from current players and also retired players. There has been information coming from them. Things that they doubted, which look suspicious. "Any information is useful. Even if it's a false alarm, it raises the awareness level of the players as well as the skills of the team investigating it," the retired top cop said. There are some structural plans for the BCCI's ACU which will only materialise once normalcy returns after the COVID-19 pandemic. "Every zone will have a zonal head as it had been said earlier. A few zones don't have zonal heads, so we will fill those posts," he said.

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Bangladesh wicketkeeper-batsman Mushfiqur Rahim will be putting his most cherished bat on auction in order to raise funds for the relief efforts put in place in the country to fight the coronavirus pandemic.

Mushfiqur will be putting the bat -- with which he scored his first double hundred against Sri Lanka at Galle in 2013 -- for online sale and has urged people to contribute to the cause so that maximum funds can be generated for the poor.

"I am putting up the bat with which I made a double hundred for auction," Mushfiqur told the Dhaka-based Bengali daily 'Prothom Alo'.

"It will be put up online, so let's see how we can go about it. I urge everyone with the ability to push up the price of the bat since the proceeds will be spent entirely for the poor people," he added.

Last week, Shakib-al-Hasan had called upon the players to auction their belongings like jerseys and cricket equipments.

"We can do anything like that. It can also be a bat with any of our autographs. We can auction these things through Facebook or the foundation," Shakib had said on Facebook Live.

More than 2000 confirmed cases of coronavirus have been reported and many people have also lost their lives till now in Bangladesh.

England batsman Jos Butter had raised more than 65,000 pounds for two London-based hospitals by auctioning the shirt which he wore in the 2019 World Cup final.

Legendary Pakistan bowler Wasim Akram also auctioned a bat and ball signed by him to raise funds for a charity as the entire world fights against COVDI-19 pandemic which has so far claimed more than 1.6 lakh lives.

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Fast bowler Josh Hazlewood is a "bit" surprised that Cricket Australia is struggling financially due to the COVID-19 pandemic but said players will work together with the governing body to overcome the crisis. With the coronavirus outbreak halting all cricketing action, Cricket Australia (CA) has laid off 80 per cent of its staff for the rest of the financial year which ends on June 30. Reports suggest that CA will run out of cash by August. "I was a bit surprised there but there has to be some impact, no doubt," Hazlewood was quoted as saying by 'Sydney Morning Herald'. Hazlewood said the financial crisis will hit cricketers too and they are ready for a reduced salary.

"We are no different from any other sport. It just depends how long it hangs around as to how much it is going to affect us, I guess. If it leads into next summer, it will be quite serious," Hazlewood said. "We're obviously partners in the game and we've always said that. We have ridden the highs and now its probably time to ride the lows, a little bit." CA and Australian Cricketers' Association (ACA) had an ugly pay dispute in 2017 but Hazlewood said relations have improved since and hoped this crisis will be handled better this time. "I think the relationship is a lot better now, between the ACA and CA. It's developed a long way in the last 18 months to two years, probably," he said. "... so that will go a long way towards having this episode (handled) a lot better than last time. It's all positive from our end and I think, from both ends. "Hopefully it's a lot better communication this time and I think you will see that in the coming weeks and the coming months. As long as they show a lot of transparency on all the numbers, all the players will be pretty happy with that."

According to the MOU signed in 2017, CA has to provide ACA with revenue estimates and a national contract list for the upcoming summer by April 30 and Hazlewood expects the deadline to be met so that players can be better prepared for the financial fallout. "April 30 is what the players want and it's in the MOU but I guess these are strange times. Anything can happen," Hazlewood said. "The ideal (situation) is that they're put out before April 30 and obviously then we will know, financially, what we can get ready for and how much of a percentage is lost and how much of our contracts are affected. "The sooner we know that, the more we can plan for the next 12 months." The global health crisis, which has killed more than 1.6 lakh worldwide, has put this year's T20 World Cup and India's tour of Australia under threat.

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Flamboyant India batsman KL Rahul is auctioning the bat he used during the World Cup last year and other memorabilia to raise funds for vulnerable children.

In a video message posted on Twitter on his birthday, Rahul said all proceeds from the auction will go to the Aware Foundation, that works to provide dispossessed, disadvantaged and vulnerable children in India the right to education. "I have decided to donate my cricket pads, my gloves, helmets and some of my jerseys to our collaboration partner Bharat Army. They are going to auction these things out and the funds will go towards the Aware Foundation," Rahul said. "It's a foundation that look towards helping children. It is very special and I couldn't pick a better day to do this."

The items up for auction, which started on Monday, includes Rahul's signed 2019 World Cup bat, Test, ODI and T20 jersey along with his batting gloves, helmet and pads. "Go on check out the auction and show some love for me and the children and let's stay strong together during this difficult time and all of us will come out of this stronger," Rahul said. The coronavirus outbreak has infected over 24 lakh people and caused more than one lakh deaths worldwide. In India, more than 17,000 people have been infected with 550 deaths reported.

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Ex-Australia skipper Michael Clarke has revealed that legendary spinner Shane Warne shared a boisterous relationship with former coach John Buchanan and they never got along. Speaking on Big Sports Breakfast, Clarke said: "The fact him and John didn't get on and Warnie didn't respect John Buchanan as a coach at all, that he thought I'm not getting told what to do from this dude. "If it was Ricky Ponting there, Warnie would have found a way to either bite his tongue or he might have said something to Ricky one-on-one...it wouldn't have been in front of everyone. At that stage Warnie was so done with John Buchanan he didn't care," he added.

Clarke, the 2015 World Cup-winning captain, also divulged details of the Australian dressing room culture when both him and Warne were together in the side. He said that the leg-spinner chose cigarettes for the three-day training camp instead of the essential items which the players were allowed. "For someone like Warnie who loved a smoke, he pretty much told them he is not coming unless he can bring his smokes. It was World War five," Clarke said.

According to Clarke, Warne and Buchanan had a deal where the latter told the former that he would have to chuck a piece of clothing for every pack of cigarettes he took. "Warnie flicked his three pairs of undies, flicked his three pairs of socks and put six packs of darts in and off we went.

"In the middle of the bush, sleeping bag only, no cover, no shelter, on the ground and it was pitch black. All you could see was this orange light coming out of someone's sleeping bag and it was Warnie just sucking his dart back," Clarke said.

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Former India batsman and Zimbabwe coach Lalchand Rajput has created a training module encompassing both the physical and mental aspects, and is monitoring his players' progress through the use of technology. Like in India, the lockdown to contain the COVID-19 pandemic has been extended in Zimbabwe, too. "We have given a training programme to the players. The activities we have included are the ones which can be done at home like skipping, side to side running and thera bands. We have also included stretching and Yoga activities," Rajput told PTI.

According to Rajput, he shared the training-cum-fitness programme with the team's trainer and Zimbabwe cricket director of coaching, who shared it with the players. "Skipper Sean Williams messages me sometimes about what he does, also one-two others are also in touch with me. Not all players are from Harare (a prominent city)," he added.

Citing an example, he said he has asked the batsmen to follow a simple drill - put a ball inside a sock and hit it indoors. According to the Zimbabwe head coach, there are some players who reside in bungalows and he has asked them to do short sprints inside its premises. "I have asked the trainer to follow up with the players on a day-to-day basis and he informs me on weekly (basis) about the development," he added.

Rajput, who has been a manager with the Indian cricket team, said he has asked the players to also follow the programme given by the psychologist to keep their mind free of any negativity. Rajput has asked the Zimbabwe cricket board to give at least a month's time for training when sporting activities resumes.

"Once the action resumes, it won't be feasible to immediately start the tours as they will need practice," said Rajput, who also thanked Zimbabwe Cricket for providing help. On a personal front, Rajput headed home following the Zimbabwe tour of Bangladesh.

Rajput, who has also coached Afghanistan and domestic teams, is enjoying spending time with his family.

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