ABVP, AISA activists clash over blocking of Umar Khalid’s visit to Ramjas college

New Delhi, Jun 1: India's COVID-19 tally on Monday witnessed its highest-ever spike of 8,392 cases, while 230 more deaths related to the infection were also reported in the last 24 hours, according to the Union Ministry of Health and Family Welfare (MoHFW).

The total number of coronavirus cases in the country now stands at 1,90,535 including 93,322 active cases, 91,819 cured/discharged/migrated and 5,394 deaths.

COVID-19 cases in Maharashtra continue to soar with the number reaching 67,655. Tamil Nadu's coronavirus count stands at 22,333 while cases in Delhi the number has reached 19,844

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

New Delhi, May 8: The Supreme Court on Friday suggested that states should consider indirect sale and home delivery of liquor as per its statute and law to avoid crowding at liquor shops amid the ongoing coronavirus-induced lockdown.

A bench headed by Justice Ashok Bhushan refused to pass any orders on a public interest litigation (PIL) seeking clarity on the sale of liquor and to ensure social distancing while it is being sold in liquor shops during the lockdown.

"We will not pass any order but the states should consider indirect sale/home delivery of liquor to maintain social distancing norms and standards," Justice Ashok Bhushan said while disposing of the petition.

The PIL, filed by one Sai Deepak, sought directions for closure of liquor shops for failing to enforce social distancing, which is essential to prevent the spread of coronavirus.

The petitioner told the apex court that he only wants that the life of common people is not affected because of crowding at liquor shops during COVID-19.

Justice Sanjay Kishan Kaul, another judge in the bench, said that discussion on home delivery is already going on.

The top court, after hearing the petition complaining about flouting of safety norms at liquor shops, observed that it cannot pass any orders to different states but they should consider online sale and home delivery of liquor.