Supporters of two BJP MPs clash at airport

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.

Thiruvananthapuram, May 12: Kerala Government on Tuesday issued modified guidelines for infrastructure arrangements and procedures to be followed to ensure smooth interstate movement of stranded persons during the lockdown.

"Necessary permission, if any, required from the State where you are presently located need to be taken for ensuring a smooth journey till Kerala border," read the order by the state government.

It has also made it clear that people will only be allowed to travel if they have the permit from the state government and local authorities.

"You are requested to start the journey only after receiving the travel permit from the Government of Kerala and the local authority of your present location to avoid any problem during travel. Those who reach at the check post without passes will not be allowed entry," it further read.

The orders by the government further read:

*To maintain social distancing norms, only 4 persons will be permitted to travel in a car, 5 in an SUV, 10 in a van and 25 in a bus. The maximum number of passengers in a van /bus will be half of the seating capacity).

*Keep sanitiser, use masks and maintain physical distancing throughout the journey.

*An exit and entry pass/passes shall be issued by the District Collectors to those persons who seek to go outside states to bring back their stranded child/ children, spouse and parent/s.

*Everybody including those coming from red zones shall remain under home quarantine for 14 days from the date of arrival.

*Only priority groups and persons will be allowed entry passes:

a) Those from neighbouring states seeking Medical aid in Kerala

b) Pregnant ladies with family

c) Family members including children separated due to lockdown

d) Students

e) Senior citizens with family members

f) Persons who had lost a job.

The guidelines further added that all luggage must be disinfected and temperature checks must be carried out with Infrared flash thermometer among other things.