Normal life hit across Karnataka as transport unions strike work

Bengaluru, Mar 25: Former Karnataka Chief Minister Siddaramaiah on Wednesday targetted Centre over surge in coronavirus cases in the country, alleging that the government has miserably failed in tackling the unprecedented situation and was still not managing the crisis well.
"The government has miserably failed in tackling this very serious disease. They are not properly managing the crisis," senior Congress leader Siddaramaiah told ANI.
Siddaramaiah's response comes a day after Prime Minister Narendra Modi announced a 21-day lockdown in the entire country to deal with the spread of coronavirus, saying that "social distancing" is the only option to deal with the disease, which spreads rapidly.
In a televised address to the nation, Prime Minister Modi said that it is vital to break the chain of the disease and experts have said that at least 21 days are needed for it.
The Prime Minister said the lockdown has drawn a "Lakshman Rekha" in every home and people should stay indoors for their own protection and for that of their families.
Noting that the Centre has on Tuesday allocated Rs 15,000 crore for the treatment of coronavirus patients and to strengthen health infrastructure, he said testing facilities, personal protective equipment, isolation beds, ICU beds, ventilators and other necessary materials will be ramped up.
The Prime Minister said the country will have to bear the economic cost of lockdown but saving the life of every citizen is his priority and the priority of the Central and state governments as also of local administrations.
Noting that the virus spreads like fire, he said that if care is not taken for 21 days, the country, a family can go behind by 21 years.
According to the Indian Council of Medical Research (ICMR), India has reported about 536 individuals have been confirmed positive among suspected cases and contacts of known positive cases. A total of 22,694 samples from March 24 till 8 pm.
Ten people have died so far due to the deadly virus, according to the data by Union health ministry.

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Apr 12: The board and management of troubled NMC Healthcare should be held accountable for the financial irregularities, said Abdulaziz Al Ghurair, chairman of the UAE Banks Federation.

"Banks have dealt with the exposure professionally and they lent to a company which was listed on FTSE-100 index with world-class regulator and the world's largest audit firm doing their audit. Even if they present their balance sheet today, people will still lend to them. This is a world-class fraud and the management and board members should be held accountable. We should have a different track to handle this company. It is not a normal track that we can go," Al Ghurair said during a virtual press conference on Sunday.

It is estimated that the more than 80 local, regional and international banks have exposure to healthcare firm. The UAE bourses had asked all the listed companies in the UAE to announce their exposure. The UAE banks last week announced nearly Dh10 billion exposure to NMC Healthcare, which is owned by the billionaire BR Shetty.

Abu Dhabi Commercial Bank has the highest exposure to NMC at Dh3 billion. Dubai Islamic Bank and its subsidiary Noor Bank announced Dh2 billion exposure while Emirates NBD and its Shariah-compliant unit Emirates Islamic Bank revealed Dh747.34 million exposure. Ajman Bank has Dh151.8 million while Al Salam Bank pegged its exposure at Dh161.5 million. All these lenders revealed their exposure for the first time on Sunday.

Abu Dhabi Islamic Bank said it had extended Dh1.07 billion in financing to NMC Healthcare, and an additional Dh113.67 million exposure to Islamic bonds issued by NMC.National Bank of Fujairah pegged its exposure to NMC at Dh289.1 million, while Sharjah-based United Arab Bank said its exposure was Dh135.3 million.

NMC recently revised its debt position to $6.6 billion, well above earlier estimates.

London's High Court last week placed hospital operator NMC Health into administration, on the application of Abu Dhabi Commercial Bank.

"I know leading bank in UAE have already legal guardian of the company so now management cannot hide anything. The new team will manage and discover what happened," said Al Ghurair.