45-year-old woman killed in Pakistan shelling in Kashmir's Mendhar sector

The Shopping Centres Association of India (SCAI) on Monday said the sector has lost over Rs 90,000 crore in the last two months, owing to the lockdown, and market players need much more than the repo rate cut and the loan moratorium extended by the RBI.

In a statement, the industry body said that the Reserve Bank of India's (RBI) relief measures are not adequate to support the liquidity needs of the industry.

According to the SCAI, there is a common misconception that the shopping centres' industry is centred around metros and large cities with investments only from large developers, private equity players and foreign investors.

"However, the fact is that most malls are part of the SMEs or standalone developers. i.e. more than 550 are single owned by standalone developers out of the 650-odd organised shopping centres across the country and there are 1,000+ small centres in smaller cities," it said.

Amitabh Taneja, Chairman of SCAI said: "The organised retail industry is in distress and has not earned anything since the lockdown and their survival is at stake. While the extension of the loan moratorium talks about some relief on repayment but won't help the industry in liquidity."

He said that a long term beneficial plan from the government is much required to revive the sector.

"Being the most safe, accountable, and controlled environment, unfortunately, malls have not been permitted to open which will lead to job losses and might even shut shops for a lot of mall developers," Taneja said.

In its representations to the Centre and the Reserve Bank of India, the association has also pointed out that, in absence of financial package and stimulus from the RBI, over 500 shopping centres may go bankrupt, that may lead to the banking industry staring at NPAs of Rs 25,000 crore.

The industry body has put forward its recommendations and requests to the government. It had sought moratorium till March 2021 at the least in terms of repayment of bank loans, interest, EMI and so on, without levy of any penalties or penal interest.

It has also sought a one-time loan restructuring with lower rates of interest, permitted for shopping centres and a facilitative and forward-looking support provision of short-term financing options for a period of six to 12 months, at lower interest rates, to meet the increased working capital requirements.

Among other relaxations, it had also appealed for GST rebates to offset the losses on account of and for the period of closure of business.

It also said that interest rates should be brought down to "manageable levels" of 5-6% in view of the precarious financial situation.

Bhadohi, Feb 11: With just two days left for the State Budget Session, a widow from Uttar Pradesh''s Bhadohi district has accused BJP MLA Ravindranath Tripathi and six others of sexual harassment over the years, the police said.

The incident is likely to cause considerable embarrassment to the ruling Yogi Adityanath government.

Bhadohi Superintendent of Police (SP) Ram Badan Singh said: "The woman, whose husband died in 2007, met the BJP MLA Ravindranath Tripathi''s nephew in 2014. She said that she was physically exploited by him for many years on the pretext of marriage."

The complainant also said that the nephew then got her lodged in a Bhadohi hotel for about a month during the 2017 Uttar Pradesh Assembly elections, "where she was raped by the MLA and his other family members".

The case has been handed over to the Additional Superintendent of Police for further investigations.

A case is yet to be registered.

The Uttar Pradesh Budget Session starts from Thursday.

Bhopal, May 28: A Bhopal-based high net worth individual hired a 180-seater A320 plane of a private carrier to ferry four family members to New Delhi, in a bid to avoid crowd at the airport and in flight amid the COVID-19 outbreak, officials said on Thursday.

The person, who is a liquor baron, chartered the aircraft to send to Delhi his daughter, her two children and their maid, who were stuck in Bhopal since the last two months due to the coronavirus-induced lockdown, sources said.

The plane arrived here from Delhi on Monday with crew only and flew back with just four passengers for whom it was specially hired, they said.

"The A320 180-seater plane arrived here on May 25 to carry four members of a family, probably due to the coronavirus scare. It was chartered by someone and there was no medical emergency, an airline official said, refusing to divulge any further details.

Bhopals Rajabhoj Airport Director Anil Vikram could not be contacted for comments.

According to aviation experts, the cost of hiring an Airbus-320 is about Rs 20 lakh.

Domestic commercial flight services resumed from Monday, after a nearly two-month break due to the coronavirus-enforced lockdown.