Australian fast bowler Mitchell Johnson announces retirement from all forms of cricket

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

May 9: Indian cricket icon Sachin Tendulkar has donated an undisclosed amount to financially help 4,000 underprivileged people, including children from Brihanmumbai Municipal Corporation (BMC) schools, amid the Covid-19 pandemic.

Tendulkar made the donation to the Hi5 Foundation, a non-profit organisation based out of Mumbai.

“Best wishes to team Hi5 for your efforts in supporting families of daily wage earners,” Tendulkar tweeted.

The organisation, through a tweet, thanked Tendulkar for doing his bit for the needy.

“Thanks @sachin_rt for proving once again that #sports encourages compassion! Your generous donation towards our #COVID19 fund enables us to financially aid 4000 underprivileged people, including children from @mybmc schools. Our budding sportspersons thank you, Little Master!”

The legendary batsman had earlier contributed Rs 25 lakh each to Prime Minister’s Relief Fund and Chief Minister’s Relief Fund for the country’s fight against COVID-19. Tendulkar had earlier pledged to bear the cost of feeding 5,000 people for a month in a couple of areas in Mumbai.

Mangaluru, May 4: No major crowds were seen in the coastal city of Mangaluru today except in front of the liquor shops after the district administration relaxed the lockdown norms for 12 hours a day (between 7am and 7pm).

There was no mad rush of vehicles either on city roads when the relaxed lockdown began. There were fewer people to buy essentials in front of grocery and vegetable shops as they had time till late evening.

There was no let down in the number of police pickets as well as curbs on vehicular movement across the city either. 

The government has allowed sale of liquor in CL2 (standalone wine shops) and CL 11 (MSIL outlets) to mop up revenues when Lockdown-3 commenced from Monday. Compared the other parts of Karnataka, the size of queues in front of liquor shops in Mangaluru were smaller. 

Like other parts of the country, the lockdown was imposed in the coastal district on March 24 to prevent the spread of Covid-19. Prior to that, a curfew was imposed in the district from March 22 midnight. The lockdown did not apply to essential services such as sale of food, groceries, milk, vegetables, fruits, and meat and fish. Gradually the district administration had to intensify the lockdown and allow those shops to remain open only between 7 a.m. and 12 noon. 

With the lockdown relaxation extending till 7 p.m., Mangaluru today witnessed people and private vehicles moving freely in the afternoon for the first time in more than a month. However, only those who had to go for work and do other essential activities were seen on roads. After 7 p.m. movements of all kinds of vehicles will be prohibited. 

The relaxation was to facilitate economic activities that had come to a standstill during the first two phases of lockdown. Mangaluru City Police Commissioner Dr P S Harsha, meanwhile, warned the people against misusing lockdown relaxation and venturing out without any genuine reason.