Reservation for SC, ST is a right nobody can take away: PM

Mumbai, Jun 22: After downgrading India's outlook to negative from stable, Fitch Ratings on Monday revised the outlook on nine Indian banks to negative.

The outlook on the Long-Term Issuer Default Ratings (IDR) was revised to negative from stable due to the banks' high dependence on the Centre to re-capitalise them.

Accordingly, the IDR outlook of the Export-Import Bank of India, the State Bank of India, the Bank of Baroda, the Bank of Baroda (New Zealand), the Bank of India, the Canara Bank, the Punjab National Bank, ICICI Bank and Axis Bank Ltd have been downgraded to negative.

"At the same time, Fitch has affirmed IDBI Bank Limited's (IDBI) IDR while maintaining the outlook at negative," Fitch said in a statement.

The rating actions follow Fitch's revision of the outlook on the 'BBB-' rating on India to negative from stable on June 18, due to the impact of the escalating coronavirus pandemic on India's economy.

"The IDRs for all the above Indian banks are support-driven and anchored to their respective SRFs," the statement said.

"They are based on Fitch's assessment of high to moderate probability of extraordinary state support for these banks, which takes into account our assessment of the sovereign's ability and propensity to provide extraordinary support."

According to the statement, the negative outlook on India's sovereign rating reflects an increasing strain on the state's ability to provide extraordinary support, due to the sovereign's limited fiscal space and the significant deterioration in fiscal metrics due to challenges from the COVID-19 pandemic.

"The rating action does not affect the banks' Viability Rating (VR). EXIM does not have a VR as its role as a policy bank makes an assessment of its standalone credit profile less meaningful."

Kochi/Mumbai, Jan 24: Two students who recently returned from China have been kept under medical observation at the Ernakulam Government Medical College here for possible exposure to the coronavirus, an outbreak of which in China has triggered a global health scare.

Reports from Mumbai said two persons there too have been put observation at the civic-run Kasturba Hospital in Chinchpokali, PTI reported.

Health officials said no cases of the deadly infection have been detected.

One of the students being screened in Kerala and both being screen in Mumai have reported symptoms such as cold and fever and has been kept in isolation wards.

The additional district medical officer of Ernakulam, Dr S Sreedevi, said samples of the student’s body fluids would be sent to the National Institute of Virology in Pune for tests.

The youngster consulted a doctor at a private hospital and was referred to the Ernakulam hospital in the wake of the virus outbreak in Wuhan city of China.

A stringent screening system has been set up at the Kochi International Airport to screen passengers who have been in the affected province in China. Persons who have been to Wuhan and showing symptoms of cold, cough and fever are being immediately shifted to the Ernakulam hospital.

All quariantine facilities have been put in place there including an isolation ward and a ventilator.

The other person under observation in Kerala is an MBBS student from Kottayam district who recently returned from his college in China. The district medical office said she has no health issues. She was put under observation as a precautionary measure.

In Mumbai, 1,789 passengers have undergone thermal screening at the Chhatrapati Shivaji Maharaj International Airport for the coronavirus since January 19.

Coronavirus cases were first reported from Wuhan, the capital of central Chinas Hubei province in China.

In the wake of the coronavirus outbreak in China, doctors at international airports have been asked to screen travellers for symptoms if they are returning from China. All private doctors have been asked to alert the authorities if they observe symptoms of the coronavirus.

New Delhi, Jul 7: The University Grants Commission (UGC) has issued revised guidelines regarding the conduct of terminal semesters and final year exams by Universities and educational institutions. It has been suggested that exams may be completed by September in online or offline modes.

Releasing a statement, the UGC said it accepted the recommendations suggested by the expert committee. "In continuation to earlier Guidelines issued on 29.04.2020 and based on the Report of the Expert Committee, the UGC Revised Guidelines on Examination and Academic Calendar for the Universities in view of COVID-19 Pandemic were also approved by the Commission in its emergent meeting held on 6th July 2020," the statement read.

The Commission further said that while it was important to safeguard principles of health, safety and equal opportunities, it was also very important to ensure academic credibility, career opportunities and future progress of students.

"The Commission approved the recommendations of the Expert Committee regarding the conduct of terminal semester(s)/ final year(s) examinations by the universities/ institutions to be completed by the end of September 2020 in offline (pen & paper online/ blended (online + offline) mode," it added.

The UGC also said that if required it would also issue relevant details related to admissions and academic calendar in the universities and colleges. It asked the students to adopt the latest guidelines and complete the terminal semester or final year exams accordingly.