India to train defence personnel of 38 countries: Parrikar

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

Mumbai, Feb 17: The Shiv Sena on Monday said the ongoing preparation for the much awaited visit of US President Donald Trump is a reflection of the "slave mentality" of Indians.

Trump's India trip is like the visit of a "Badshah" (emperor), an editorial in Sena mouthpiece 'Saamana' said.

Taking a dig at the construction of a wall on a plot having several slum structures in Ahmedabad ahead of Trump's visit there, the Sena said the US president's trip would neither stop the fall of rupee's value in forex market nor offer betterment to those (slum dwellers) behind the wall.

"Before Independence, British King or Queen used to visit one of their slave nations like India. The kind of preparations going on from taxpayers' money for the arrival of Trump is similar to it. This reflects the slave mentality of Indians," it said.

The Sena also took a swipe at Prime Minister Narendra Modi over the Ahmedabad Municipal Corporation's (AMC) move to build wall on a plot to "hide the slums" on the route through which Trump's convoy would pass.

"Former prime minister Indira Gandhi had once given the slogan 'Garibi Hatao', which was ridiculed for a long time. It seems now Modi's plan is 'Garibi chupao' (hide poverty)," the Marathi publication said.

Is there any financial allocation for such a wall being built in Ahmedabad? Is the US going to offer loan to India to build such walls across the country? it wondered.

"We have heard Trump is going to be in Ahmedabad for only three hours but the wall construction is costing almost Rs 100 crore to the state exchequer," it said.

It is basically a political arrangement between Prime Minister Modi and US President Trump, the Sena claimed.

Last year, 'Howdy, Modi!' (a mega event jointly addressed by the Indian prime minister and Trump) was organised in the US, it noted.

A similar programme, "Kem Chho Trump" (Gujarati expression for how are you Trump), has been now organised (in Ahmedabad) ahead of the US elections, chiefly because of a sizable number of Gujarati people living in America, the Shiv Sena claimed.

"But this visit of President Trump is neither going to stop further fall of rupee in the forex market nor offer betterment to those behind the wall (being built in front of slums in Ahmedabad)," it said.

The Sena said Trump is "not someone very wise or a statesman or someone who cares for the whole world", but he has to be treated with respect as he represents the mighty US.

"Sometimes you have to treat someone with respect to get your things done," it quipped.

The AMC on Friday said the construction of the wall, around four feet in height, was approved much before Trump's Gujarat visit was finalised.

Trump is scheduled to visit Modi's home state Gujarat on February 24.

He will visit the famous Sabarmati Ashram in Ahmedabad and take part in a roadshow with Modi. After that, the two leaders will inaugurate a new cricket stadium in Motera and address a gathering there, with an expected audience of over a lakh people.

While it was earlier speculated that the programme would be called 'Kem Chho Trump', the Ahmedabad Municipal Corporation on Sunday tweeted a series of posters confirming that the event is now christened as 'Namaste Trump', apparently to give it a pan-India appeal.

New Delhi, Apr 5: Joining efforts to fight COVID-19, the Defence Research and Development Organisation (DRDO) has designed a full-body disinfection chamber and a special face protection mask for healthcare professionals, officials said.

The special chamber called 'PSE' has been designed by Vehicle Research Development Establishment (VRDE), Ahmednagar, a DRDO Laboratory.

The walk through enclosure is designed for personnel decontamination, one person at a time. It is a portable system equipped with sanitiser and soap dispenser, officials said.

The decontamination is started using a foot pedal at the entry. On entering the chamber, electrically-operated pump creates a disinfectant mist of hypo sodium chloride for disinfecting, the DRDO said in a statement.

The mist spray is calibrated for an operation of 25 seconds and stops automatically indicating completion of operation. As per procedure, personnel undergoing disinfection will need to keep their eyes closed while inside the chamber, it said.

The system consists of roof mounted and bottom tanks with a total of 700 litres capacity. Approximately 650 personnel can pass through the chamber for disinfection until the refill is required, the DRDO said.

The system has see-through glass panels on side walls for monitoring purpose and is fitted with lights for illumination during night-time operations, it added.

This system can be used for disinfection of personnel at the areas of controlled ingress and egress such as entry and exit to hospitals, malls, office buildings and critical installations, officials said.

Also, Research Centre Imarat (RCI), Hyderabad, and Terminal Ballistics Research Laboratory (TBRL), Chandigarh, have developed face protection mask for healthcare professionals handling COVID-19 patients, the DRDO added.

Its light weight construction makes it convenient for comfortable wear for long duration. This design uses commonly available A4 size Over-Head Projection (OHP) film for face protection, it said.

One thousand face shields are being produced daily in TBRL and provided to Postgraduate Institute of Medical Education and Research (PGIMER), Chandigarh, it said.

Similarly, 100 are produced at RCI and these have been handed over to Employees' State Insurance Corporation (ESIC), Hyderabad. A demand of 10,000 shields has been received from PGIMER and ESIC hospitals based on successful user trials, the DRDO added.