Journalists boycott Jignesh meet after he asks Republic TV to leave

India will suspend all domestic flights from midnight Tuesday, the final piece of a nationwide lockdown that threatens Prime Minister Narendra Modi’s attempts to revive an economy already expanding at the slowest pace in more than a decade.

The flight ban compliments a cancellation of all passenger trains through March 31, as authorities try to halt the spread of the coronavirus in the world’s second-most populous country, which has poorly equipped hospitals and inadequate social security. Modi on Monday held a conference call with some of India’s top entrepreneurs and bankers, who urged policymakers to immediately slash interest rates by as much as a full percentage point, transfer cash to the poorest citizens, and suspend loan-repayments.

Over the past three days, state after state has declared curfews and India’s international borders have been shut for most visitors since March 11. India so far has 492 virus cases, including nine deaths. But experts say the country could be on the same trajectory as Italy, where the outbreak quickly escalated, causing hospitals to overflow.
A traveller stands outside a near-empty Delhi Junction Railway Station in Delhi, March 22.

"This is the biggest lockdown in world history,” said Raghu Raman, a former soldier with the Indian Army and founder of the National Intelligence Grid, an umbrella database aimed at countering terrorism. “This strategic pause gives decision-makers more time to arrest the exponential spread of the virus and evaluate trade-offs.”

Controlling the outbreak is crucial for Modi, who remains India’s most popular political leader currently though his economic management has faced criticism. Foreign investors are selling Indian assets at an unprecedented pace and failure to contain deaths and infections could erode some of the prime minister’s personal appeal at home.

Oxford Economics slashed India’s January-March growth forecast to 3%, a number not seen even during the worst of the global financial crisis. The main equity gauge rose about 3% on Tuesday after a record 13.2% plunge Monday, and the rupee stayed near its all-time low.

“A part of the cerebral cortex that senses fear and survival seems to have activated in the minds of investors,” said Umesh Mehta, Mumbai-based head of research at Samco Securities Ltd. “The only relief in this market can come from either policy makers and regulators, or from some positive news that a cure for the pandemic is near.”

Bloomberg Economics estimates Modi’s administration needs at least 1% of gross domestic product -- $30 billion -- to meaningfully respond to the virus outbreak. Meanwhile, the nation’s billionaires are diverting their factories to manufacture medical equipment and pledging to keep paying their staff even as production grinds to a halt. India allowed companies to use their philanthropy funds to prevent the spread of the coronavirus.

Reliance Industries Ltd., controlled by India’s richest man Mukesh Ambani, has helped equip a hospital in Mumbai dedicated to patients of Covid-19, the disease caused by the coronavirus. It will also build quarantine centers and produce 100,000 facemasks a day and other personal protective equipment for health workers. The group’s telecom unit will offer free broadband to enable work-from-home during the lockdown and will pay its lowest paid workers twice a month to protect household incomes.

Ambani joins Mahindra & Mahindra Ltd. Chairman Anand Mahindra and Vedanta Resources Ltd. Chairman Anil Agarwal -- a combined worth of more than $40 billion between the trio -- who have so far made pledges.

Indian companies are responding to Modi’s shutdown call. Maruti Suzuki India Ltd., Tata Motors Ltd., Toyota Kirloskar Motor, Hero MotoCorp., Samsung Electronics Co. and LG Electronics Inc., Mahindra Group, TVS Motor Co., Kia Motors Corp., Renault Nissan Automotive India Private Ltd., and Yamaha Motor India are among companies that have announced factory suspensions.

Policymakers are aware of the risks of such a move. India -- with a record 5.9 trillion rupees of local corporate debt maturing this year -- faces “waves of default” if cash flows aren’t maintained, the government’s principal economic adviser Sanjeev Sanyal said an interview.

Finance Minister Nirmala Sitharaman last week said the government will announce a relief package for coronavirus-affected sectors as soon as possible. The Reserve Bank of India, which is due to review interest rates April 3, announced a 1 trillion rupee cash injection on Monday.

“Let me assure, whatever it takes to keep the cash flow going in the economy will be done,” Sanyal said. “We need to make sure that when we are past the health storm, we still have an economy that has not gotten gridlocked. Because unwinding that would be more difficult.”

New Delhi, Mar 27: The death toll due to COVID-19 rose to 17 in the country on Friday and the number of coronavirus cases climbed to 724, according to the Health Ministry. In its updated figures at 9.15 am, the ministry stated that four deaths were reported from Maharashtra while Gujarat had registered three deaths.

Karnataka has reported two deaths so far, while Madhya Pradesh, Tamil Nadu, Bihar, Punjab, Delhi, West Bengal, Jammu and Kashmir and Himachal Pradesh have reported one death each.

According to the data, the number of active COVID-19 cases in the country stood at 640, while 66 people were either cured or discharged and one had migrated. The total number of 724 cases included 47 foreign nationals, the ministry said.

Several India-based firms are spoofing the World Health Organisation (WHO) by creating fake Gmail accounts and luring business leaders in disguise of informing them of latest COVID-19 announcements and hack their personal and financial information, Google has warned.

These "hack-for-hire" firms, many based in India, have been creating Gmail accounts spoofing the WHO, largely targeting business leaders in financial services, consulting, and healthcare corporations within numerous countries including, the US, Slovenia, Canada, India, Bahrain, Cyprus, and the UK.

"The lures themselves encourage individuals to sign up for direct notifications from the WHO to stay informed of COVID-19 related announcements, and link to attacker-hosted websites that bear a strong resemblance to the official WHO website," security researchers from Google's Threat Analysis Group said on Wednesday.

The sites typically feature fake login pages that prompt potential victims to give up their Google account credentials, and occasionally encourage individuals to give up other personal information, such as their phone numbers.

On any given day, Google's Threat Analysis Group (TAG) said it is tracking more than 270 targeted or government-backed attacker groups from more than 50 countries.

Last month, it sent 1,755 warnings to users whose accounts were targets of government-backed attackers.

"Our team of analysts and security experts is focused on identifying and stopping issues like phishing campaigns, zero-day vulnerabilities and hacking against Google, our products and our users," said the tech giant.

Google continues to see attacks from groups like Charming Kitten on medical and healthcare professionals, including WHO employees.

"We're seeing a resurgence in COVID-related hacking and phishing attempts from numerous commercial and government-backed attackers," said the company.

Government-backed or state-sponsored groups have different goals in carrying out their attacks: Some are looking to collect intelligence or steal intellectual property; others are targeting dissidents or activists, or attempting to engage in coordinated influence operations and disinformation campaigns.

Google said that since March, it has removed more than 1,000 YouTube channels that were part of a large campaign and behaving in a coordinated manner.

"These channels were mostly uploading spammy, non-political content, but a small subset posted primarily Chinese-language political content similar to the findings of a recent Graphika report," said the company.

Several cybersecurity firms have seen a spike in COVID-19 related scams and hacking attempts. Hackers are also creating scam sites similar to COVID-19 relief packages.

Researchers at Check Point Software Technologies revealed in mid-May that they have seen 192,000 coronavirus-related cyber-attacks per week over the past three weeks, a 30 % increase compared to previous weeks.