Terror alert in Gujarat: Security heightened, NSG teams on standby; raids in Kutch

New Delhi, Jul 22: India is responding with utmost urgency to coronavirus from the very beginning and has been continuously strengthening preparedness and response measures, WHO Regional Director (South-East Asia) Poonam Khetrapal Singh said on Wednesday.

"India is responding with utmost urgency to COVID-19 from the start. It's been continuously strengthening preparedness and response measures, including ramping up testing capacities, readying more hospitals, arranging and stocking up medicines and essentials," Singh said at a virtual briefing.

"India took bold, decisive and early measures earlier in the outbreak. The country did not witness an exponential increase in cases like some other countries which reported their first few cases along with India. Like in any other country the transmission of COVID-19 is not homogenous in India. There are areas yet to see a confirmed case, some have sporadic cases, in some areas some small clusters while we are witnessing large clusters in some megacities from the densely populated areas," Singh said.
She said WHO was aware of varying capacities at sub-national levels.

"Not unusual in a country as big as India and its population size that measures taken may often not be uniformly sufficient across all areas. Scaling up capacities and response remains a constant need in India."

Replying on the question of what more needs to be done in controlling the spread of COVID-19, she said all countries including India must continue to implement core public health and social distancing measures.

"Local epidemiology to guide our response for finding hotspots and testing, detecting, isolating and providing care to the affected, promoting safe hygiene practices and respiratory etiquette, protecting health workers and increasing health system capacity is also key," she said.

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

Panaji, Jan 28: Bureaucrat-turned-activist Kannan Gopinathan on Tuesday said even some "RSS people" are convinced the Citizenship Amendment Act is a bad law but are keeping quiet as the NDA government at the Centre is their own baby.

Speaking in Panaji, he further said the Narendra Modi government was behaving like a "drunken teenager" which needs to be questioned or else it will end up destroying homes.

"I was detained twice in UP, kept the whole day, because they (government) do not want the questioning (of CAA). I have met so many RSS people, they also understand this...if you have this conversation, they also understand the government has done something (wrong) and they have been asked to support it," he claimed.

He said the line of thought among these RSS people (he met) was "just support it (CAA)" as they don't want an altercation because the "government is their baby".

"He (government) is not a normal baby, he is a drunken teenager. He should be asked questions because when he starts destroying, he does not destroy somebody else's home but your own home," Gopinathan said.

He also hit out at those who have been claiming that the people protesting against the CAA are unaware about the law and have not even read it.

Gopinathan claimed if one had asked supportive MPs about the CAA on the day it was passed in Parliament, several of them would not have been able to speak on it as "they would not have known what was passed, because they were not given time (to go through the bill)".

He said, earlier, such legislation was passed after several rounds of consultation but "now, by night, it becomes an Act", adding (now) "everything is a surgical strike".

Gopinathan, in a possible reference to the National Register of Citizens exercise carried out in Assam, also claimed "thousands of people are in detention centres".

"It is your fundamental right to peacefully assemble without arms, Article 19 (1) (D) (of the Constitution)," he said at a function organised by a group opposed to CAA.

Gopinathan said people "always felt they were in a democracy" because they never tried to fly, when in reality "you are in a cage".

"The moment you want to fly you realise you are in a cage," he said, adding that "we have to question, we have to ask ourselves where are we going".

"When you don't allow a person to speak against an incorrect legislation, then what is democracy? What is freedom of expression?" Gopinathan questioned.

Gopinathan, a 2012 batch AGMUT cadre Indian Administrative Service officer, was the secretary, Power Department of the Union Territories of Daman and Diu, and Dadra and Nagar Haveli when he resigned on August 21 last year.

At the time, he had claimed the people of Jammu and Kashmir were being denied freedom of expression following abrogation of Article 370 by the Centre.