VHP Dharma Sabha in Ayodhya | We want entire land for temple, says Champat Rai

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

New Delhi, Apr 11: Ahead of Prime Minister Narendra Modi's meeting with chief ministers, senior Congress leader P Chidambaram on Saturday urged CMs of states where the party is in power to unanimously demand for transfer of cash to every poor family.

He said the poor have lost their jobs and have exhausted their savings. They are now standing in lines to get free food, the former Union finance minister said.

Chidambaram said remonetising the poor would cost only Rs 65,000 crore, which is economically viable.

"Chief ministers Amarinder Singh, Ashok Gehlot, Bhupesh Baghel, V Narayanasami, Uddhav Thackeray and E Palaniswani should tell the prime minister today that just as LIVES are important LIVELIHOOD of the poor is important, he tweeted.

"The poor have lost their jobs or self-employment in the last 18 days. They have exhausted their meagre savings. Many are standing in line for food," Chidambaram said.

Can the state stand by and watch them go hungry," he asked, adding that chief ministers should demand that cash be transferred to every poor family immediately.

"Remonetise the poor should be their unanimous demand," Chidambaram said.

New Delhi, Jun 8: Abortion access to around 1.85 million women was compromised across the country due to the nationwide restrictions imposed in response to the COVID-19 outbreak, a study conducted by Ipas Development Foundation (IDF) revealed.

These abortions were compromised at all points of care, including public and private sector facilities and chemist outlets during 68-day lockdown and the first week of Unlock 0.1 period. The study assesses the near-term impact of COVID-19 on abortion access in India since March 25 when the lockdown was imposed across the country with the announcement of Prime Minister Narendra Modi to contain the spread of novel coronavirus of COVID-19 pandemic.

It also highlights the need for a specially designed and integrated recovery plan for improving abortion services at facilities. The study estimates that access to abortion was highly compromised during lockdown 1 and 2 ( between March 25 and May 3) in which around 59 per cent of women seeking an abortion could not access the services.

However, with the Unlock phase or the recovery period as mentioned in the study starting on June 1, the situation is expected to improve - with 33 per cent abortions being compromised in 24 days. A huge number of women could not access safe abortion services during the lockdown, therefore it is extremely important that the healthcare system, public and private, is prepared to meet the needs of these women, the Ipas foundation says.

The model of the study strives to quantify the reduced access to abortions across three different points of care -public health facilities, private health facilities, and chemist outlets, said Vinoj Manning, CEO, Ipas Development Foundation in a statement.

"Majority of public health facilities and their staff are now focused on COVID-19 treatments and closures of private health facilities have compromised the access to safe abortions, which is a time-sensitive procedure."

He said that the study conducted by his foundation was to get a clearer picture of how COVID-19 restrictions have affected women seeking safe abortion services and what are the areas that would need focused efforts in the days to come.

Speaking on the methodology, Dr Sushanta Kumar Banerjee from Ipas Development Foundation said: "We conducted telephonic surveys and consulted with several experts from FOGSI leadership and social marketing organizations like PSI India Private Limited."

"After careful analysis of the data received from them, we have concluded that of the 3.9 million abortions that would have taken place in 3 months, access to around 1.85 million was compromised due to COVID-19 restrictions."

To facilitate the process Ipas Development Foundation has issued some initial recommendations which include: rapid mapping of facilities for first and second trimester abortions, assessing facilities' preparedness especially for second-trimester abortions, improving referral linkage and spread the word about the availability of the service, streamlining the supply chain for medical abortion drugs, and lastly including mechanisms to offset additional travel and out of pocket expenditures.

Ipas Development Foundation will be holding consultations with other partners and key stakeholders to facilitate meaningful collaborations to ensure access to safe abortions and ensure that no woman suffers long-term harm to her health due to lack of services.