IMA opposes draft National Medical Commission bill

Mumbai, Jul 16: Poet-activist Varavara Rao has tested positive for Covid-19. The 80-year old, named as accused in the Elgar Parishad case, was shifted to state-run JJ Hospital from Taloja central jail where he was lodged after he complained of dizziness. The hospital conducted tests including one for Covid-19 the results for which confirmed that he is positive.

Dr Ranjit Mankeshwar, the dean of JJ Hospital said, “He has shown no symptoms of Covid-19 so far. He has no breathing difficulty and is stable. We will soon shift him to a Covid hospital.” Rao is likely to be shifted to St George hospital.

Last week, Rao’s family had held a press conference after receiving a call from him from prison. His family had then said that his condition was deteriorating and he should be provided immediate medical aid. He was earlier shifted to the hospital when he fell unconscious in jail in May but was discharged within three days. The family had said that he was not provided proper medical treatment.

Last month, a special court had rejected his interim bail plea where he had cited his susceptibility to the virus due to his age and other medical conditions. The court, however, had said the superintendent of prison has been directed to take appropriate measures in such cases where medical attention is required. Before he was shifted to the hospital on Tuesday, Rao was admitted to the hospital ward of the jail and as he had been unable to do basic chores without depending on other inmates.

An appeal against the special court’s order is pending before the Bombay High Court. The plea is likely to be heard tomorrow.

New Delhi, Mar 6: As panicky depositors rushed to withdraw money from Yes Bank whose control was seized by the RBI in a dramatic late-night move, Finance Minister Nirmala Sitharaman on Friday assured depositors that their money is safe and said the central bank was working for an early resolution of the crisis.

The Reserve Bank of India (RBI) on Thursday evening capped withdrawals at Rs 50,000 for the next one month and imposed strict limits on operations at the country's fourth-largest private lender that faced "regular outflow of liquidity" after an effort to raise new capital failed.

"I am in continuous interaction with the RBI. The RBI is fully seized of the matter and has assured they will give a quick resolution," Sitharaman said here.

She said no depositor will lose his or her money and insisted that the immediate priority is to ensure Yes Bank customers are able to withdraw money within the stipulated cap.

"I want to assure every depositor that their money shall be safe. Their monies are safe," she said. "I am constantly in contact with the RBI and the steps that are taken are taken in the interest of depositors, banks and economy. We are fully seized of the development."

She was talking to reporters after meeting State Bank of India (SBI) Chairman Rajnish Kumar. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.

"So I repeat, the depositors can be assured that their money is safe," she said.

Soon after the RBI takeover, depositors thronged Yes Bank ATMs to withdraw money and police had to be deployed in some places to control the crowds.

Yes Bank has 1,000 branches across the country.

Refusing to elaborate on her meeting with the SBI chairman, the minister said that "was on a completely different matter".

"RBI governor has given me assurance that there will be an appropriate resolution soon. No depositor will lose (money)," she said. "Reserve Bank has taken cognizance of the problem."

The central bank, she said, has gone through the "process over and over again to find out an amicable solution".

"And that has been over the last couple of months. So it is not as if they have come in suddenly now. We have been monitoring the situation," she said adding the RBI has appointed an administrator who previously was with the SBI.

"Both the RBI and the government are looking at this with all the details before them, not just today. I have personally monitored the situation over the last couple of months with the RBI. Therefore we have taken a course which will be in everybody's interest," she added.

Yes Bank had been seeking new capital since last year to bolster its ratios and quell questions about its stability due to its exposure to the non-banking finance industry entangled in a prolonged crunch in the local credit market.

The SBI chairman said the resolution to the Yes Bank crisis will come "very shortly".

"This is not a sectoral problem. It is a bank-specific problem," he said. "The RBI will take all steps to ensure financial stability."

On SBI picking up a stake in Yes Bank, he said the lender already has an in-principle approval for doing so.

"If SBI has to pick up a stake in Yes Bank, we have an in-principle approval for that," he said.

Commenting on the crisis at Yes Bank, Alka Anbarasu, Vice President – Senior Credit Officer, Financial Institutions, Moody's Investors Service, said: "RBI's moratorium on Yes Bank is credit negative as it affects timely repayment of bank depositors and creditors."

"While Moody's expects Indian authorities will take steps to prevent the weakness in the bank's viability from significantly impacting its depositors and senior creditors, the lack of a coordinated and timely action highlights continued uncertainty around bank resolutions in India," she said.

London, Feb 19: Indian universities had a good performance year within the emerging economies of the world as a record 11 made it to the top 100 Times Higher Education's (THE) Emerging Economies University Rankings 2020.

Only China has more universities than India in the top 100 at 30 from a total of 47 countries and territories included in the analysis released in London on Tuesday evening.

A total of 56 Indian universities appear in the full ranking of a total of 533 universities across emerging economies of the world.

The Indian Institute of Science (IISc), ranked 16th, is India’s top-ranked institution followed by the Indian Institute of Technologies (IITs).

"There has long been a debate about the success of Indian universities in world rankings, and for too long they have been seen as underperforming on the global stage," notes Phil Baty, Chief Knowledge Officer for the THE.

"The Emerging Economies University Rankings 2020 suggests that real progress is being made by a number of institutions in a number of metrics across our robust methodology, and could mark an exciting turning point for Indian higher education, enabled in part by the Institutes of Eminence scheme," he said.

The Indian government’s Institutes of Eminence scheme was established in 2017 and one of its participating universities, Amrita Vishwa Vidyapeetham, has entered the top 100 for the first time, moving up a huge 51 places from joint 141st in 2019.

The other universities included in the Institutes of Eminence scheme that appear in the top 100 mark the biggest improvers in the ranking with IIT Kharagpur moving up 23 places to 32nd, IIT Delhi improving by 28 places to joint 38th and IIT Madras climbing 12 places to joint 63rd.

The Institutes of Eminence scheme provides participating universities with government funding and greater autonomy with the aim of moving them into the top 100 of the world university rankings, including Times Higher Education’s World University Ranking, over time.

The expectation is that this will be achieved through a number of changes including an increase in foreign students and staff, offering online courses and encouraging academic collaboration with other top universities around the world.

This year marks only the second time that 11 Indian institutions have held top 100 positions since the ranking began in 2014, when much fewer universities took part in the ranking globally.