Michael Patra takes over as RBI Deputy Governor

Agencies
January 15, 2020

Mumbai, Jan 15: Michael Debabrata Patra took over as Deputy Governor of the Reserve Bank of India (RBI) on Wednesday.

He was an Executive Director of India's central bank before being elevated to the post of Deputy Governor.

An RBI release said that as Deputy Governor, Patra will look after Monetary Policy Department including Forecasting and Modelling Unit (MPD/MU), Financial Markets Operations Department (FMOD), Financial Markets Regulation Department.

He will also look after Market Intelligence (FMRD/MI), International Department (Intl. D), Department of Economic and Policy Research (DEPR), Department of Statistics and Information Management (including Data and Information Management Unit) (DSIM/DIMU), Corporate Strategy and Budget Department (CSBD) and Financial Stability Unit.

Patra, a career central banker since 1985, has worked in various positions in the Reserve Bank of India.

As Executive Director, he was a member of the Monetary Policy Committee (MPC) of RBI, which is invested with the responsibility of monetary policy decision making in India. He will continue to be an ex-officio member of the MPC as Deputy Governor.

Prior to this, he was Principal Adviser of the Monetary Policy Department, Reserve Bank of India between July 2012 and October 2014.

He has worked in the International Monetary Fund (IMF) as Senior Adviser to Executive Director (India) during December 2008 to June 2012, when he actively engaged in the work of the IMF's Executive Board through the period of the global financial crisis and the ongoing Euro area sovereign debt crisis.

The release said that his book "The Global Economic Crisis through an Indian Looking Glass" vividly captures this experience.

He has also published papers in the areas of inflation, monetary policy, international trade and finance, including exchange rates and the balance of payments.

A fellow of the Harvard University where he undertook post-doctoral research in the area of financial stability, he has a PhD in Economics from the Indian Institute of Technology, Mumbai.

He will hold the post for three years or until further orders. The post fell vacant after Viral Acharya resigned on July 23 last year.

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News Network
March 3,2020

Chennai, Mar 3: The Madras High Court has ruled that if a working woman gives birth to a child in the second delivery after twins in the first, she is not entitled to maternity benefits as it should be treated as third child.

"As per existing rules, a woman can avail such benefits only for her first two deliveries. Even otherwise it is debatable as to whether the delivery is not a second delivery but a third one, in as much as ordinarily when twins are born they are delivered one after another, and their age and their inter-se elderly status is also determined by virtue of the gap of time between their arrivals, which amounts to two deliveries and not one simultaneous act," the court said.

The first bench, comprising Chief Justice A P Sahi and Justice Subramonium Prasad stated this while allowing the appeal from Ministry of Home Affairs.

It set aside the order June 18 2019 order of a single Judge, who extended 180 days of maternity leave and other benefits to a woman member of the Central Industrial Security Force (CISF) under the rules governing the Tamil Nadu government servants.

The issue pertains to an appeal moved by the ministry, which contended that the leave claim is by a member of CISF to whom the maternity rules of Tamil Nadu would not apply.

She would be covered by the maternity benefits as provided under the Central Civil Services (Leave) Rules, the ministry said.

When the appeal came up for hearing, the bench said it found that a second delivery, which, in the present case, resulted in a third child, cannot be interpreted so as to add to the mathematical precision that is defined in the rules.

The admissibility of benefits would be limited if the claimant has not more than two children, the bench said "This fact therefore changes the entire nature of the relief which is sought for by the woman petitioner, which aspect has been completely overlooked by the single judge", the bench said.

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News Network
April 3,2020

New Delhi, April 3: The Government on Thursday launched a mobile app developed in public-private partnership as part of efforts to contain the spread of coronavirus.

"The app, called 'AarogyaSetu' will enable people to assess themselves the risk for their catching the coronavirus infection," an official release said.

It said that the app will calculate this based on their interaction with others, using cutting edge Bluetooth technology, algorithms and artificial intelligence.

"Once installed in a smartphone through an easy and user-friendly process, the app detects other devices with AarogyaSetu installed that come in the proximity of that phone. The app can then calculate the risk of infection based on sophisticated parameters," the release said.

It said that the app will help the government take necessary timely steps for assessing risk of spread of COVID-19 infection and ensuring isolation where required.

"The app's design ensures privacy. The personal data collected by the app is encrypted using state-of-the-art technology and stays secure on the phone till it is needed for facilitating medical intervention," the release said.

It said the app is available in 11 languages and has highly scalable architecture.

"This app is a unique example of the nation's young talent coming together and pooling resources and efforts to respond to a global crisis. It is at once a bridge between public and private sectors, digital technology and health services delivery," the release said.

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Agencies
May 18,2020

India is among 58 nations, including 27 European Union members, who have moved a draft resolution demanding evaluation of the World Health Organisation (WHO)'s response towards the novel coronavirus pandemic.

The European Union-led draft resolution on global COVID-19 response is set to be tabled at the upcoming World Health Assembly on Monday.

The draft resolution demands initiation "at the earliest appropriate moment to review experience gained and lessons learned from the WHO-coordinated international health response to COVID-19".

"We are deeply concerned by the morbidity and mortality caused by COVID-19 pandemic, the negative impacts on physical and mental health and social well-being, the negative impacts on economy and society and the consequent exacerbation of inequalities within and between countries," read the draft.

"We express solidarity to all countries affected by the pandemic, as well as condolences and sympathy to all the families of the victims of COVID-19," it added.

The resolution says timelines are to be evaluated regarding "recommendations the WHO made to improve global pandemic prevention, preparedness, and response capacity".

The WHO on January 23 declare a global health emergency, but did not declare it and waited for a week for its director-general Tedros Adhanom Ghebreyesus to return from China.

By that time, COVID-19 cases increased 10 times and the virus entered 18 countries.

According to Health Policy Watch, till as late as February, the WHO did not support countries for imposing travel restrictions to China.

"When countries began evacuating their citizens from Wuhan, the COVID-19 epicentre, the WHO said it did not favour this step".

The WHO finally declared it a pandemic on March 11.

The global health body has come under criticism not just from the US for its response being "China-centric".

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