Parties should not give tickets to candidates with criminal background: ECI to SC

Thiruvananthapuram, Mar 30: Kerala reported 32

fresh cases of coronavirus on Monday, with the worst affected Kasaragod district alone accounting for 17 cases.

Kannur reported 15 cases, while Wayanad and Idukki reported two each, Chief Minister Pinarayi Vijayan told reporters here after a COVID-19 review meeting.

Of the 32 cases, 17 had come from abroad and 15 had been infected through contact.

A total of 213 people are presently under treatment in Kerala.

At least 1.50 lakh people are under surveillance in the state and 623 are in isolation wards of various hospitals.

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

Hyderabad, Feb 28: The Cyber Crime Police of Hyderabad has registered an FIR against social media platforms- WhatsApp, Twitter and TikTok- for allowing people to spread anti-national activities, as per a complaint filed by one S Srishailam.

Raghuveer, Additional DCP Cyber Crimes said," We have received a court referred complaint, which was filed by S Srisailam in the concerned court stating that social media platforms Whatsapp, Twitter and TikTok are allowing few people to spread anti-national activities and videos."

S Srisailam also claimed that a few people are running a campaign against the CAA on social media platforms to spread hatred which in turn is causing damage to national integrity.

"In this regard, because the complaint was referred by a court a case has been registered against Whatsapp, Twitter & TikTok under the relevant section of Indian Penal Code and IT Act and took up the investigation," the DCP added.

He also added that the police cannot take action against these platforms as they are not banned in India but can initiate action against persons who intentionally indulge in spreading hatred.

"The police are conducting the investigation and if allegations of the complainant are found to be false then we will drop the case. We had received the case one week ago," informed the DCP.