Black wealth: Paradise Papers leak has 714 Indian names

Bengaluru, Jun 17: Amid rising COVID cases in the past two weeks, the Karnataka government is planning to increase testing capacity to 25,000 samples a day, said a minister.

"Due to increase in cases in the last two weeks, the government is trying to scale up testing to 15,000 to 25,000 samples per day," said Medical Education Minister K. Sudhakar.

He said people living in crowded places, sanitation workers, street vendors, healthcare workers, police and other frontline staff would be extensively tested.

"It has also been decided to mandatorily test all those who have symptoms of Influenza Like Illness (ILI) and Severe Acute Respiratory Infection (SARI)," he said.

Similarly, all people over 50 with ILI symptoms will be tested.

The health department will also randomly test samples in old containment zones to make sure that the infection is not recurring.

Currently, there are 72 Covid testing labs in the southern state, 41 government operated and 31 private labs.

However, for a few days, the number of Covid tests in the state have plummeted.

On Monday, the health department has tested only 5,362 samples across the state.

Likewise, on Tuesday, only 7,936 samples were tested, diverging from earlier weeks when around 10,000 cases were tested on an average.

In all, 4.57 lakh samples have been tested so far, of which 4.39 lakh have tested negative.

Mangaluru, Feb 21: Police officials including the Mangaluru city Commissioner of Police P S Harsha would be summoned to appear before the panel conducting a magisterial probe into December 19, 2019 firing on anti-CAA protesters in the city which left two people dead.

Notices would be served on 176 police officers and staff to appear for hearing, Udupi deputy commissioner G Jagadeesha, conducting the magisterial probe into the incident said here on Thursday.

He told reporters that officials, including the city police commissioner Harsha, would be summoned to depose on the violence which led to police firing that killed two people.

Mangaluru (North) Assistant Commissioner K U Belliappa, who is the nodal officer for the police department, has given a list of 176 policemen who are ready to adduce evidence in the hearing.

The police officers would be summoned in phases.

The next hearing is on February 25.

He said so far, 203 members of the public have deposed before him on the incident.

Former city Mayor K Ashraf, who is under treatment in hospital, has also provided a written statement.

The remaining members of the public can provide evidence during next hearings, he said.

On December 19, two people were killed in police firing as protests against the Citizenship Amendment Act (CAA) turned violent here.

The protesters had attempted to besiege the Mangaluru north police station and tried to attack police personnel, following which force was used to disperse them, police had said.

Two people received bullet injuries in the firing and they later succumbed at a hospital, the police had said.

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.