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SCCM Pod-404 Population-Based Epidemiology and Outcomes of Acute Kidney Injury in Critically Ill Children

Margaret M. Parker, MD, MCCM, speaks with Rashid Alobaidi, MD, on his article titled Population-Based Epidemiology and Outcomes of Acute Kidney Injury in Critically Ill Children published in the January 2020 issue of Pediatric Critical Care Medicine.




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POKE ME: SEBI needs to loosen up and keep its eye on investor interest using economics

Many of the securities laws are spread over circulars, which are vague and ever-changing. It is not clear how ordinary companies can keep track with daily changes and excessive complexity of regulations.




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Poke Me: SEBI needs to loosen up and keep its eye on investor interest using economics (Reader's React)

Sebi must ensure that no one is hanged without a fair hearing, levy of penalty on Reliance speaks about the regulator’s firmness, a reader said.




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Economic Times




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How CFOs can minimise the impact of Covid-19 and build business resilience in times of disruption

Organizations are struggling to implement an immediate crisis response mechanism while exploring long term sustainability solutions to build resilience against future black swan events.




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Covid-19 will have unprecedented effect on migrant economy: Dilip Ratha, World Bank

Millions of migrant workers toiling in the Gulf countries are facing a crisis due to Covid-19 and the fall in oil prices.




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I can't risk lives of my policemen to manage crowd at liquor shops: Delhi Police Commissioner SN Shrivastava

Police should have welfare systems similar to the ones implemented by the armed forces, says Delhi Police Commissioner SN Shrivastava.




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Economic revival will depend on our covid policy

Cement is a perfect barometer to gauge economic activity. On May 5, a day after India began a graded opening up in its fight against the scourge of the novel coronavirus, economic activity could be tracked by the movement of rakes carrying cement: 7 out of every 10 trains were chugging towards green and orange zones, bypassing the prosperous districts in the red zone.The government, by then, had colour-coded all 733 districts in the country. The 130 districts that were the worst affected by Covid-19 were in the red zone. Suddenly, the country’s biggest and most vital commercial hubs such as Mumbai, Delhi, Pune, Ahmedabad and Chennai were hotspots. The virus-free 319 districts were coded green and the rest 284 districts, which were only moderately affected, were called orange. The many guidelines issued by the Ministry of Home Affairs, state chief secretaries and even resident welfare societies boiled down to the same thing — the harshest lockdown will be in the red zone, there will be partial relaxation in orange zones while green will be opened up, albeit with conditions.Cement movement is a good measure of economic activity on the ground as it is often ferried straight to project sites. When the nationwide lockdown began on March 25, all non-essential work, including construction, came to a grinding halt. And the rakes carrying cement stopped running. 75649505The railway data, previewed by ET Magazine, shows that 254 trains carrying cement were on the move on May 5 when Lockdown 3.0 began: 84 of them were travelling towards green zones, 99 to orange and only 71 to red.India in Numbers- Source: McKinsey (% of population- 2011 census)Total Districts in India: 733GREEN ZONE- 319 Districts- 24 per cent populationORANGE ZONE- 284 Districts- 43 per cent populationRED ZONE- 130 Districts- 33 per cent population49-57% Economic activity during the lockdown 41% Red districts’ share of economic activities 50% Share of red districts in households with annual disposable income of over Rs 4.85 lakh 143 mn Minimum number of inactive non-farm workers during lockdown (Note: Green districts are Covid-free for previous 21 days; red and orange zones are identified on the basis of positive cases, doubling rate, testing, etc.)The colour-coded division and lockdown of India raises three big questions. One, are the green and orange zones robust enough to fire up the nation’s $2.7 trillion economy? Two, can the lockdown in the red zones be stretched beyond May 17 even as the number of Covid-19 cases in the country jump to about 60,000 on Saturday morning, with almost all of the new active cases coming from the red districts? Three, if the lockdown is prolonged in the metropolises, have we calculated the impact on the economy? In essence, how should India navigate a health emergency and an economic crisis — both unprecedented in its nature and magnitude? 75649443Bibek Debroy, chairman of the Prime Minister’s Economic Advisory Council, resorts to Greek mythology to explain the dilemma India is in and the possible way out for it. Homer’s hero Odysseus, Debroy says, chose to sail closer to the sea beast Scylla and lose a few sailors, rather than lose his entire ship by travelling near the monstrous whirlpool Charybdis. In Debroy’s telling, the sea monster Scylla is the Covid pandemic and Charybdis is the economic toll. (See the column, “The Ship Inches a Little Away From Whirlpool”).That Greek myth could be a clue to what the Indian government is likely to do after May 17: lift the clampdown on entire districts and impose severe restrictions only on containment zones; kick-start the economy even as Covid cases and the death toll rise alongside. Says Debroy: “Mortality and morbidity apply to enterprises too; MSMEs more pronounced than most. The baseline GDP growth was already in slowdown mode and a capital crunch was compounded by lockdown’s labour constraint. There were both supply and demand shocks. That Scylla/Charybdis metaphor is apt, because Homer’s account tells us what Odysseus did.” 75649534“All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Red zones cannot turn orange quickly. So will you not allow the sale of nonessential items in red zones?” Arvind Mediratta, MD & CEO, Metro Cash & Carry.The worry about the nation’s economic health is palpable. If the lockdown continues in the commercial hubs any longer, the losses will pile up for many companies; the smaller firms likely to go under first. It will have a debilitating effect on the economy in general and jobs in particular. The Indian economy would be on the ventilator then.As those cement-carrying rakes show, there are many factories in orange and green zones as well, miles away from city limits. Work can begin there, and some have already started production. 75649555“There is total disruption. Supply chains are badly affected. Liquidity is a big issue. The govt must announce a stimulus package. I also urge the govt to stop the imports of all products that can be made in India” Gautam Singhania, CMD, RaymondBut the million-rupee question is, who are they producing for? The 130 districts in the red zone are critical centres of not just production but also consumption. Even as they account for 41% of national economic activity, 38% of industrial output and 40% of non-farm employment, they also have half of India’s consuming-class households — those with an annual disposable income of more than Rs 4.85 lakh each — according to a recent McKinsey report titled “Reopening India: Implications for Economic Activity and Workers”.Breaking the Value ChainFurthermore, dividing swathes of the country into zones and restricting movement of goods and people will have a disastrous effect on production, labour, supply and distribution chains, which are deeply intertwined. In the textiles sector, for example, if cotton is bought in the western parts of India, yarn is spun in the north and west, while weaving mostly takes place in the south, and apparel is manufactured in clusters in the north and south, as the McKinsey report further points out. Similarly, in the chemical industry, the acetic acid value chain supplies to a variety of industries such as pharmaceuticals, pesticides, paper, food processing and construction. Any blockage will have a ripple effect on sectors.Arvind Mediratta, managing director and CEO of Metro Cash and Carry, says dividing the country into colour-coded districts is unrealistic and the rules guiding it are arbitrary. “It seems those who designed it (colour-coded zones) are not aware of ground realities. All the big cities are in red zones. Even if a factory opens in orange or green zone, who will it produce for? Also, the implementation on the ground is arbitrary. In red zones today, you can buy liquor but not kitchen items,” says Mediratta.Mohit Anand, managing director of Kellogg, South Asia, says solutions have to be found locally. “Each region has its own issues, each warehouse and factory has a different problem. India is like 21 countries put together and, hence, the solutions also have to be hyperlocal in nature,” he says. In red zones, not only are malls and market places shut but ecommerce firms are barred from selling non-essential items. An Amazon spokesperson says when restrictions were lifted, the company saw a huge demand from orange and green zones for smart devices, kitchen appliances, baby clothes and products related to study-from-home. “The opening up of these areas for ecommerce has meant that thousands of small businesses received orders for the first time in the past many weeks of lockdown,” the spokesperson adds. Consumers and businesses in the red zone, meanwhile, have to wait. 75649590“MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA and about 35% of employment. This segment must be freed up, even in red zones” Arvind Virmani, Former chief economic adviser.Out of WorkThe lockdown has seen a massive reverse migration of workers. Deprived of work and wages for weeks, hundreds of thousands of labourers have left cities. In sheer desperation, many hid in trucks and freight trains and trudged hundreds of kilometres to reach home. It was only after 40 days of lockdown that the government arranged special trains for them— by Saturday, 302 trains have ferried around 3.4 lakh migrant workers to their native states.Some states are worried about reverse migration at a time when factories are reopening and life in green pockets are returning to normalcy. Karnataka even made an abortive attempt to stop such special trains to stonewall the return of migrant labourers. Rajasthan Deputy Chief Minister Sachin Pilot says workers should be persuaded to stay back. He says: “There is a cost to the migrants’ travelling back to their native districts. Once a worker goes home, she won’t return in the next three-four months. I feel that only those who are desperate and determined to return home should go; the rest should stay back, taking temporary jobs. They won’t be gainfully employed in their native areas.” The loss of workforce will particularly affect states such as Maharashtra, Delhi, Andhra Pradesh, Telangana, Karnataka and Kerala that rely heavily on migrant workers in construction and services sectors. 75649620“After Covid-19 there will be new normals: new models of engagement between companies and their clients” Keshav Murugesh, Group CEO, WNS Global ServicesMontek Singh Ahluwalia, former deputy chairman of the Planning Commission, says labourers will not return to cities anytime soon, and it will be one of the factors that will prolong the economic pain. He says green and orange zones cannot help in economic revival “as 60% of the economy is in the red zone”. Even if restrictions in all the zones are lifted, he says, it will take some more time for economic activity to get back to normal. “The reverse migration that has taken place may not be quickly reversed. Recession in the world economy and reduced level of remittances will have a negative impact. Private sector investment plans which have been interrupted will take time to resume. That is why many analysts are predicting that we may see negative growth in 2021, with recovery beginning only next year,” Ahluwalia adds.In this pervasive gloom, some indicators offer flickers of hope. Bengaluru-based trucking platform BlackBuck has seen a spike in bookings on the back of a good harvest. The agri pickup is likely to continue into the kharif season, with the India Meteorological Department forecasting a good monsoon. Cofounder Rajesh Yabaji says: “We have seen 80,000 bookings since we opened up our commission-free platform in April-end. Now, we estimate truck traffic to be at 50% of pre-lockdown trucking movement.”On April 29 and 30, two freight trains originating from Karnataka ferried about 350 new tractors to Rajasthan and Gujarat, responding to demand in western India ahead of the kharif season.Companies are ramping up production of agri-related items to meet seasonal demand from rural India. Hemant Sikka, president, farm equipment sector, Mahindra & Mahindra, says the company has resumed production in its tractor plants in Rudrapur (Uttarakhand), Nagpur (Maharashtra) and Mohali (Punjab) after getting necessary approvals. 75649661“With dealerships opening up, bounty harvest and forecast of a normal monsoon, the tractor industry will perform well” Hemant Sikka, President, farm equipment sector, Mahindra & Mahindra.“The highest levels of safety protocols and social distancing are being ensured at the plants, especially on the shop floor. With dealerships gradually opening up, a bounty harvest and forecast of a normal monsoon, I am positive that the tractor industry will perform well and ensure rural growth and prosperity during the year,” says Sikka.Farming sector is likely to get a boost this year with labourers who are back from the cities lending a hand on the fields. The number of people engaged in work under NREGA (National Rural Employment Guarantee Act) has swelled multiple times. In Rajasthan, as against 62,000 NREGA workers on April 18, there were 16.5 lakh on May 5. All of them are engaged in their own farmland, receiving Rs 220 daily from the government.While agriculture could be a sector to watch out for in the coming months, the Covid-19 crisis will inflict a body blow to sectors such as hospitality and tourism, which are likely to remain dormant for quite some time even after the lockdown is lifted. 75649456After Covid The post-Covid world will be vastly different from the before-Covid universe we have left behind. Keshav Murugesh, group CEO of WNS Global Services and former chairman of Nasscom, says there will be “new normals”. Clients and BPO companies will come up with ingenious models of engagement. Work from home could become the norm even if it leads to productivity loss. “At WNS, we are in no hurry to go back to office in May although work from home would mean productivity would drop to 85%,” says Murugesh, adding that uninterrupted power supply at homes is essential for making the model a success in the longer term.Saugata Gupta, managing director of consumer goods company Marico, says they are strategising on new pricing to sell their products effectively in a post-Covid environment. “We have to be cognisant of the fact that with mounting pressure on consumers’ disposable income, there will be a risk of downtrading. So, one has to be very careful on pricing, and we have to ensure a good value to consumers. Any gains on input costs need to be passed on to consumers,” says Gupta, adding that the opening up of green zones is good news for them as many of their products are popular in rural markets. 75649645“Each region has its own problems. India is like 21 countries put together, and solutions also have to be hyperlocal in nature” Mohit Anand, MD, Kellogg, South AsiaGautam Singhania, chairman and MD of Raymond, says there seems to be a communication gap between the Centre and states. He says: “There is total disruption. The supply chains are badly affected. Liquidity is a big issue and banks are not willing to pump in cash now. It is high time the government took this up, and announced a stimulus package.” He proposes a ban on imports. “For one year, we should follow the motto of buying only Indian products. I urge the government to stop imports of products that can be made in India. This is a question of survival.”India Inc, by and large, has come to terms with the new reality that till a vaccine for Covid-19 is discovered, the companies will be forced to shed some productivity by allowing employees to work from home and by deploying fewer labourers to ensure social distancing.The government, however, cannot remain in stasis till a vaccine is discovered. It has to take a call on whether a blanket ban on economic activities in red districts is the way forward. Former chief economic adviser Arvind Virmani says economic activities should be allowed in red zones. “We estimate that MMCAS (manufacturing, mining, construction and allied services) constitutes about 50% of GVA (gross value added) and about 35% of employment. This segment of economy must be freed up entirely, even in red zones, with restrictions such as physical distancing,” he says.The virus is not going away anytime soon. The hastily drawn colour codes will have to be smudged away now. Otherwise, an economic contagion will be upon us.Read More1. Our first objective is to provide value to customers: Saugata Gupta, MD, Marico2.Economy likely to show negative growth in current year: Montek Singh Ahluwali3. Rajasthan’s thrust will be on textile, agriculture and domestic tourism: Sachin Pilot4. With a phased opening, India tries to avoid a grave economic toll: Bibek Debroy




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Moratorium on loan EMIs, credit card dues will have an interest cost

People have a lot of misconceptions about what has been promised. Keep these things in mind when you make financial decisions basis the announcements in the relief package.




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ICICI Bank moratorium on debit card EMIs: All questions answered

ICICI Bank, along with issuing details on availing the moratorium on loans and credit card dues, also issued a set of FAQs on moratorium for equated monthly instalments (EMIs) taken on debit cards.




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Coronavirus and cybercrimes: Opting for EMI moratorium? Fraudsters are waiting

Banks have been alerting their customers of cyber frauds that can happen while availing EMI moratorium.




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Economic Times




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Family finance: Kumars need to stagger some of their money goals till income increases

His goals include building an emergency corpus, saving for his children’s (including another child in future) education and weddings, and retirement.




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Coronavirus pandemic impact: Keep your investments liquid and focus on short term goals

Any investment decision during this period should be made factoring in the short-term goals of an individual.




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Use Excel's binomial distribution to assess chance of success of your investments

Applying this to financial markets helps investors to determine their chances of success in a fixed number of attempts (or trials). Another application of binomial distribution is to find out the probability of a company reporting positive growth in the EPS.




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Family finance: Salaried Pendse has enough time to reach financial goals

His goals include building an emergency corpus, saving for his spouse’s business, child’s education and wedding, taking a vacation, and retirement.




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Family finance: Why Sharma will reach his financial goals with ease

Financial Planner Pankaaj Maalde suggests that Sharma build an emergency fund of Rs 5.1 lakh, which is equal to six months’ expenses, and a medical buffer of Rs 10 lakh for his mother. Here's what his financial goals include.




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New customs form for passengers coming to India from tomorrow

All passengers coming to India will have to fill in a new detailed customs form on their arrival from tomorrow.




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Lockdown period not to be counted for determining residency status of NRIs, foreign nationals: CBDT

India has allowed discounting of prolonged stay period for determining the residency status in relief for NRIs.




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Donations to Shri Ram Janmabhoomi Teerth Kshetra eligible for exemption from income tax

In a notification issued Friday, the Central Board of Direct Taxes (CBDT) allowed tax exemption to donations under Section 80 G of the Income Tax Act, on the grounds that the structure would be a “place of historic importance and a place of public worship”.





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Trump's plan to suspend immigration would affect Indians waiting to migrate to US

Trump's plan to temporarily suspend immigration in view of the Covid-19 pandemic and to protect American jobs, has shocked Indian IT companies and technology professionals. As they anxiously await how the restrictions will pan out, New York-based immigration lawyer Cyrus D Mehta explained its likely impact.




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COVID-19: Indian-American Senator appointed member of committee to address Washington's eco recovery

The committee will consist of four Democrat and three Republican senators. Democratic senators include David Frockt, Manka Dhingra, Christine Rolfes and Rebecca Saldana and Republicans include senators Randi Becker, Tim Sheldon, while one member is yet to be named.




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No last goodbye for Gulf migrant workers lost to pandemic

Millions of foreigners work in the United Arab Emirates and across the other wealthy Gulf nations, providing the backbone of the workforce in hospitals and banks, as well as on construction sites and in factories.




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COVID-19: Indian missions in UAE open online registration for its citizens who wish to fly home

"It is informed that the Embassy of India, Abu Dhabi and the Consulate General of India, Dubai, have started a database to register Indians wishing to travel back to India under COVID-19 situation. The details can be entered through the website of the Embassy by following the link 'Register in Database of Indians to Travel Back to India under COVID-19 situation'," India in Dubai tweeted.




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Acko General Insurance offers one month free auto insurance amid COVID-19 lockdown

"To support customers during this time where their car/bike will not be in use, Acko General Insurance has decided to not charge insurance for one month and has announced an industry-first initiative that gives a one-month insurance extension to car and bike owners," Acko General said.




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Family floater or individual insurance: Things to consider while choosing a health cover

An individual looking to buy health insurance cover has to make two decisions. The first is whether the entire family needs insurance and the second is about the type of health policy to buy.




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You may be allowed to pay health insurance premium in instalments amid coronavirus outbreak

You may now get the option from your insurer to pay your health insurance premiums on a monthly, quarterly or half-yearly basis in addition to the current option of paying premiums on an annual basis amid coronavirus outbreak.




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How to choose health insurance in times of coronavirus pandemic

Times may seem bleak, but this too shall pass, and when it does, we will need to get ready for life to return to normalcy. Part of this normalcy will be finances, and for life to move on, it's crucial to make sure savings have not been eaten away through avoidable medical expenses.




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India studying Donald Trump's executive order on immigration

The temporary suspension of immigration will affect those who are legally seeking entry into the United States for employment but it will not impact the ones who are already living in the country, the order said.




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US to soon undertake review of non-immigrant visas including H-1Bs

Trump has sought a review of the non-immigrant programs, which includes the popular H-1Bs.




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Donald Trump's temporary Green Card ban aims to 'turn off the faucet' of new immigrant labour: Report

President Donald Trump's executive order to temporarily halt issuance of green cards aims to "turn off the faucet" of new immigrant labour and is the beginning of a broader strategy to reduce the flow of foreigners into the US.




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View: Trump’s anti-immigration order busts the model minority myth of desis

Trump’s move, a clear attempt to bolster his base ahead of the US election, shakes the very foundation of the image of America in the minds of many. This is a country where the immigrant story has had its fullest most Technicolor rendition, where politicians routinely boast about their immigrant roots.




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Most H-1B employers use programme to pay migrant workers well below market wages: Report

"Among the top 30 H-1B employers are major US firms including Amazon, Microsoft, Walmart, Google, Apple and Facebook. All of them take advantage of program rules in order to legally pay many of their H-1B workers below the local median wage for the jobs they fill," said the report released by the Economic Policy Institute.




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One lakh Indian families in the US get relief due to Trump admin's appeal against revoking H4 visas

The Department of Homeland Security (DHS) argued that the American technology workers, who had challenged the 2015 ruling on giving work permits to H-4 visa-holders, have not been irreparably harmed by such work authorisation.




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Economic Times




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Economic Times




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Thinking about a career change during the coronavirus pandemic? Here are 8 things to consider

Though India does not have similar jobs data reporting structure during this pandemic, it is easy to see that the job market this year will be the most challenging that we have seen in our lifetimes.




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Stocks in news: SBI, HCL Tech and Tata Chemicals

Stocks in news: SBI, HCL Tech and Tata Chemicals





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HUL Q4 results: Net profit slips 3.4% to Rs 1,520 crore, misses estimates

HUL Q4 results: Net profit slips 3.4% to Rs 1,520 crore, misses estimates





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ICICI Bank Q4 net profit rises 26% YoY to Rs 1,221 crore, misses Street estimates

ICICI Bank Q4 net profit rises 26% YoY to Rs 1,221 crore, misses Street estimates





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RBI advises Ministry of Finance against PSB recapitalisation in Budget 2020

RBI advises Ministry of Finance against PSB recapitalisation in Budget 2020





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Economic Survey 2020: Here's everything you need to know

Economic Survey 2020: Here's everything you need to know





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RBI keeps repo rate unchanged at 5.15% amid accelerating inflation

RBI keeps repo rate unchanged at 5.15% amid accelerating inflation





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Transmission of rate cuts to improve further: RBI Guv Shaktikanta Das

Transmission of rate cuts to improve further: RBI Guv Shaktikanta Das





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RBI cuts repo rate by 0.75% to 4.40% amid Covid-19 outbreak

RBI cuts repo rate by 0.75% to 4.40% amid Covid-19 outbreak





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Covid-19 impact: Govt raises market borrowing limit to Rs 12 lakh cr for FY21

Covid-19 impact: Govt raises market borrowing limit to Rs 12 lakh cr for FY21





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MSME loan losses will rise sharply if economy takes time to revive: Amitabh Chaudhry

MSME loan losses will rise sharply if economy takes time to revive: Amitabh Chaudhry





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No reason to hide anything: Delhi health minister over 'under-reporting' of COVID-19 deaths

Confusion prevailed over the number of COVID-19 deaths in Delhi, with data from four hospitals showing that 92 people succumbed to the infection as against 68 reported by the government.




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Economic Times