Three Kerala companies have more gold than Sweden, Singapore, Australia!

December 14, 2014

Kerala companiesKochi, Dec 14: Three gold loan companies in Kerala have more precious metal in their vaults than the gold reserves of some of the richest nations. Muthoot Finance, Manappuram Financeand Muthoot Fincorp jointly hold nearly 200 tonnes of gold jewellery, which is higher than the gold reserves of Singapore, Sweden or Australia.

India accounts for approximately 30% of the global demand for gold, a true-and-tested source of insurance for millions of families that have little access to other forms of social security. What is true for India is even more so for Kerala, where 2 lakh people are employed in the gold industry. The metal's fungibility makes it an ideal collateral for over-the-counter loans.

Muthoot Finance holds 116 tonnes of gold as security for its loans, Manappuram Finance has 40 tonnes and Muthoot Fincorp, 39 tonnes. The trio's combined holdings are 195 tonnes. To put things in global perspective, Singapore's gold reserves are 127 tonnes, Sweden's 126 tonnes, South Africa's 125 tonnes and Mexico's 123 tonnes.

Muthoot Finance, the largest of Kerala's gold loan companies, holds more yellow metal in its vaults than the reserves of Greece (112.4 tonnes), Australia (79.9 tonnes), Kuwait (79 tonnes), Denmark (66.5 tonnes) and Finland (49.1 tonnes).

India, according to the World Gold Council, has the 11th largest gold reserves, with 558 tonnes. The US heads the pack with 8,134 tonnes, while Germany and IMF come next (3,384 and 2,814 tonnes, respectively).

"Historically, Malayalis have excelled in financial services as an ethnic group. The size of these companies reflects their innovative skills. Gold loan business also reflects Malayalis' hunger for gold and the strong dowry system which feeds gold and gold loans," said CJ George, founder and managing director of stock broking firm Geojit BNP Paribas.

It was even better a couple of years ago. Muthoot Fincorp, which has a gold loan portfolio of Rs 8,550 crore, then had 41 tonnes of gold in its vaults. "Then, two things happened ” gold prices declined and banks became aggressive in gold loans. As gold prices declined, our business also came down slightly, reflecting on our gold holdings," said Thomas John Muthoot, chairman and managing director of Muthoot Fincorp.

Muthoot Finance is the largest gold loan NBFC with a reach of over 4,265 branches across 21 states and four Union territories. Its gold loan portfolio is Rs 21,800 crore. Manappuram Finance has 3,200 branches nationwide and 20,000 employees, with a gold loan portfolio of Rs 9,000 crore.

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News Network
May 16,2020

Bengaluru, May 16: At least 23 new COVID-19 positive cases have emerged in the past 19 hours, raising Karnataka''s tally to 1,079, a health official said on Saturday.

"New cases reported from Friday 5 p.m. to Saturday noon are 23," said the official.

Among the 1,079 cases, 548 are active and isolated in designated hospitals across the state, 494 patients got discharged and 36 died of the virus.

In the past 19 hours, cases spiked in Benglaluru Urban, the place hosting the highest number of coronavirus cases in the state.

Of the new cases, Bengaluru Urban reported 14 cases, followed by 3 in Hassan and Mandya, Ballari, Bagalkote, Davangere, Dharwad and Udupi, 1 each.

All the 14 cases, men, from Bengaluru Urban were secondary contacts of positive case 653.

All Hassan, Dharwad and Bagalkote cases had a history of inter-state travel to Mumbai, Maharashtra, India''s largest sufferer of Covid.

A 46-year-old man from Ballari had a travel history to Ahmedabad in Gujarat, another major COVID-19 hotspot state in India.

A 40-year-old man from Mandya had inter-district travel history to Kolar and Bengaluru.

A 1-year-old infant girl from Udupi had international travel history to Dubai.

Among the new cases, 15 are contacts of earlier cases.

Of the all cases, 20 are men and three women.

Only four of the 23 cases are above 50 and 18 below 40.

Of the 1,079 cases, 12 per cent patients were senior citizens, 66 per cent men and 34 per cent women with a discharge rate of 44 per cent.

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Media Release
March 12,2020

Manipal, Mar 12: Team WGSHA is proud to announce that the culinary museum in WGSHA has been listed in Limca Book of Records as India's First Living Culinary Arts Museum.

Limca Book of Records (LBR) is a catalogue of achievements made by Indians, at home and abroad in diverse fields of human endeavour. LBR is a celebration of exemplary exploits and recognizes accomplishments such as firsts, inventions, discoveries, honours, awards and the truly extraordinary.

Chef Thirugnanasambantham, Principal of WGSHA, while thanking MAHE and ITC Leadership for extending all support towards instituting this museum in Manipal and WGSHA, also appreciated and thanked all those who have directly or indirectly helped towards setting up this museum in Manipal.

"The process for WGSHA's culinary museum to make an entry into the popular Limca Book of Records started almost six months back and after validation by LBR recently, has been listed in the book of records. We are glad that we could be the first of its kind in such endeavour and we also hope to be in Guinness World Records soon", said Chef Thiru.

"We are indeed grateful to Michelin-starred Indian celebrity Chef Vikas Khanna, the founder and curator of this museum, who had this idea of establishing a culinary museum and donated thousands of kitchen tools and equipment worth millions of dollars to this museum for preserving the history of India's rich tradition of culinary arts and to educate the future generations. Chef Vikas Khanna, 'Distinguished Alumnus' of WGSHA, being very desirous of making such a museum in India, what better place it would be than in his own Alma Mater!", he said on the background of having the museum.

Chef Thiru mentioned that Udupi, popular for the famous 'Udupi Cuisine', and being a temple town, is adjacent to International University Town of Manipal Academy of Higher Education (MAHE).

MAHE is home to thousands of international students and visitors. With a great heritage of Udupi, combined with the large number of Indian and International students residing in and around Manipal, it was very apt for the college to create a museum for today's Indian youth and the International visitors to understand the rich culinary heritage of India, through the priceless kitchen tools and equipment donated by Chef Vikas Khanna.

"Has placed WGSHA in the global culinary map and we are proud to have joined all such efforts to preserve the history of cuisines and cultures across the world", said Chef Thiru.

The culinary art academic block housing the museum was opened in April 2018, spread approximately over 25,000 sq ft and is shaped in the form of a giant pot very similar to the ones found in Harappa.

There are historical as well as regular household items such as plates made by the Portuguese in India, a 100-year-old ladle used to dole out food at temples and bowls dating to the Harappan era, an old seed sprinkler, an ancient Kashmiri tea brewer known as 'samovar', vessels from the Konkan, Udupi and Chettinad regions, apart from a large collection of rolling pins, utensils of all shapes and sizes, tea strainers of different types etc.

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Agencies
June 13,2020

New Delhi, Jun 13: Loss of smell or taste has been added to the list of COVID-19 symptoms, according to the revised clinical management protocols released by the Union Health Ministry on Saturday.

The ministry said that coronavirus-infected patients reporting to various COVID-19 treatment facilities have been reporting symptoms like fever, cough, fatigue, shortness of breath, expectoration, myalgia, rhinorrhea, sore throat and diarrhea.

They have also complained of loss of smell (anosmia) or loss of taste (ageusia) preceding the onset of respiratory symptoms.

Older people and immune-suppressed patients in particular may present with atypical symptoms such as fatigue, reduced alertness, reduced mobility, diarrhoea, loss of appetite, delirium, and absence of fever, the ministry said.

Children might not have reported fever or cough as frequently as adults.

The US's national public health institute, the Centers for Disease Control and Prevention (CDC), had in early May incorporated "a new loss of taste or smell" in the list of COVID-19 symptoms.

According to the data from Integrated Health Information Platform and Integrated Disease Surveillance Programme, portal case investigation forms for COVID 19 (n=15,366), the details on the signs and symptoms reported are (as on June 11), fever (27 per cent), cough (21 pc), sore throat (10 pc), breathlessness (8 pc), Weakness (7 pc), running nose (3pc ) and others 24 pc.

According to the health ministry, people infected by the novel coronavirus are the main source of infection.

Direct person-to-person transmission occurs through close contact, mainly through respiratory droplets that are released when the infected person coughs, sneezes, or talks.

These droplets may also land on surfaces, where the virus remains viable. Infection can also occur if a person touches an infected surface and then touches his or her eyes, nose, or mouth.

The median incubation period is 5.1 days (range 2–14 days). The precise interval during which an individual with COVID-19 is infectious is uncertain.

As per the current evidence, the period of infectivity starts 2 days prior to onset of symptoms and lasts up to 8 days.

The extent and role played by pre-clinical/ asymptomatic infections in transmission still remain under investigation.

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