Denied entry in Bengal village, migrant workers living in forest

New Delhi, Jul 2: India's COVID-19 tally breached the 6 lakh cases mark with 19,148 new coronavirus cases being reported in the last 24 hours, informed the Union Ministry of Health and Family Welfare on Thursday.

The total cases now stand at 6,04,641 of which there are 2,26,947 active cases while 3,59,860 patients have been cured/discharged/migrated.

434 deaths have been reported in the last 24 hours taking the number of COVID-19 deaths in the country to 17,834.

Maharashtra, the worst-hit state, has a total of 1,80,298 cases including 8,053 fatalities. Meanwhile, Tamil Nadu has 94,049 cases inclusive of 1,264 deaths.

Delhi has 89,802 coronavirus cases including 2,803 deaths.

Ahmedabad, Mar 24: The Gujarat police has detained 426 people in the last 24 hours for violating lockdown rules in force in the state to combat the novel coronavirus outbreak, a senior official said on Tuesday.

They include those who came out despite being advised home quarantine, state Director General of Police Shivanand Jha said.

"The lockdown met with around 90 per cent success. We are taking strict measures to implement the lockdown in the remaining 10-15 per cent areas. We have lodged 238 cases related to the violation of police notification and 127 cases related to quarantine rule violation. In all, we have detained 426 persons across the state," Jha told reporters in Gandhinagar.

"For better implementation of the lockdown and to address issues concerning people, we have set up a dedicated 24-hour control room and appointed two additional DGP rank officers to supervise operations. Three teams under them would work to resolve issues across the state," said Jha.

He said police commissioners and districts SPs have been asked to enforce the lockdown in an effective manner.

Essential services like vegetable and milk shops are allowed to remain open, he said, and asked people not to flock in large numbers to such shops.

The state has so far reported 33 COVID-19 cases, and one person has died of the infection.

Mumbai, Mar 27: The Reserve Bank of India (RBI) on Friday lowered the key repo rate by 75 basis points to 4.4 per cent in a bid to arrest the economic slowdown amid coronavirus (COVID-19) outbreak.
The reverse repo rate now stands at 4 per cent, down by 90 basis points, said RBI Governor Shaktikanta Das adding this has been done to make it unattractive for banks to passively deposit funds with the central bank and instead lend it to the productive sectors.
The six-member monetary policy committee (MPC) met on March 24, 25 and 27 and voted 4:2 in favour of the repo rate reduction. The MPC also decided to continue with the accommodative stance as long as it is necessary to revive growth and mitigate the impact of COVID-19 on the economy while ensuring that inflation remains within the target.
"The need of the hour is to shield the economy from the pandemic," said Das. "We need to mitigate the impact of coronavirus, revive economic growth and provide financial stability."
Repo rate is the rate at which a country's central bank lends money to commercial banks, and the reverse repo rate is the rate at which it borrows from them.
The RBI Governor further said that the economic growth and inflation projection will be highly contingent depending on the duration, spread and intensity of the pandemic.
"Global economic activity has come to a near standstill as COVID-19 related lockdowns and social distancing are imposed across a widening swathe of affected countries. Expectations of a shallow recovery in 2020 from 2019's decade low in global growth have been dashed," said Das.
"The outlook is now heavily contingent upon the intensity, spread and duration of the pandemic. There is a rising probability that large parts of the global economy will slip into recession," he said.
However, the RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 per cent of GDP. "Along with today's measures, liquidity measures equal to 3.2 per cent of GDP. The RBI will take continuous measures to ensure liquidity in the system."
The RBI governor has said that all banking institutions can offer a three-month moratorium on all loans for a period of three months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as a non-performing asset (NPA).
The three-month moratorium will permit banks to avoid a large onset of NPAs during the 21-day lockdown and keep their books healthy.
Das said banks and other financial institutions should do all they can to keep credit flowing to economic agents facing financial stress on account of the isolation that the virus has imposed.
"Market participants should work with regulators like the RBI and the Securities and Exchange Board of India (SEBI) to ensure the orderly functioning of markets in their role of price discovery and financial intermediation," he said.