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President greets nation on Dussehra

[email protected] (IANS)
October 23, 2012

Pranab-mukherjee

New Delhi, October 23: President Pranab Mukherjee Tuesday greeted the nation on the occasion of Dussehra on Wednesday.

"On the joyous occasion of Dussehra, I have great pleasure in extending warm greetings and good wishes to all my fellow citizens," said the president in a message.

"This auspicious season is a time when the people of India re-enact our great epic - Ramayana and celebrate the triumph of truth and righteousness over evil forces," he said.

"May this festival stimulate in all of us the determination to emulate the righteousness of the 'Maryada Purush' (Rama), the loyalty of his brothers - Bharata and Lakshmana, the virtues of Sita (Rama's wife) and the valour as well as humility of Hanuman," he added.

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News Network
March 23,2020

Bengaluru, Mar 23: Indian stocks plunged over 9% on Monday, as the rapidly spreading coronavirus pandemic sent major states including the country's capital into a lockdown amid increasing fears that outbreak could bring world economies to a grinding halt.

The NSE Nifty 50 index slipped 9.17% to 7,937.75 by 0408 GMT, while the S&P BSE Sensex was 9.42% lower at 27,093.24.

Over the weekend in India, the virus drove several companies to shut operations and the government sent states into lockdowns, bringing normal life to a grinding halt.

"Panic has gone up domestically because of the lockdown situation," said Vinod Nair, head of research at Geojit Financial Services.

"There is fear that the situation will not be brought under control soon."

The rupee hit a fresh record low of 76.05 against the dollar, as a flight into cash and worries about tightening liquidity boosted demand for the world's reserve currency.

Meanwhile, global markets crumbled, with MSCI's broadest index of Asia-Pacific shares outside Japan sliding nearly 4% as the global death toll climbed to over 14,000, further battering economic activity, and raising fears of a global recession.

After market hours on Friday, the Securities and Exchange Board of India halved position limits for certain stock futures, restricted short-selling of index derivatives and raised margin rates for some shares to curb "abnormally high" volatility amid the pandemic.

In domestic trading, the Nifty PSU Bank Index plunged 8%, while the Nifty bank index crashed nearly 10%.

The Nifty Auto Index slid 9% after several carmakers over the weekend suspended production due to the virus.

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News Network
August 8,2020

New Delhi, Aug 8: The Union Health Secretary Rajesh Bhushan on Friday directed the governments of four states -- Gujarat, Karnataka, Tamil Nadu, and Telangana, to analyse the factors driving the high COVID-19 mortality and devise ways and means to reduce the mortality.

Apart from the higher case mortality, these states account for 17 per cent of India's active cases, high daily new cases, low tests per million, and high confirmation percentage.

In a high-level virtual meeting, Bhushan advised state administrations to adhere to measures suggested by central advisories and guidelines to prevent and reduce mortality due to coronavirus infection.

According to the health ministry, 16 districts in these four states are reporting maximum virus fatalities. It includes -- Ahmedabad and Surat in Gujarat; Belagavi, Bengaluru urban, Kalaburagi and Udupi in Karnataka; Chennai, Kanchipuram, Ranipet, Theni, Thiruvallur, Tiruchirappalli, Tuticorin and Virudhnagar in Tamil Nadu; and Hyderabad and Medchal-Malkajgiri in Telangana respectively.

"The districts were advised to ensure that the advisories, guidelines and clinical treatment protocols issued by the Health Ministry are adopted and effectively implemented to reduce the mortality among COVID-19 patients and other preventable deaths among all sections of the people, particularly those with co-morbidities, pregnant women, the elderly and children," said the health ministry official.

"States were advised to ensure optimum capacity utilization of testing labs, increase tests per million population and reduce confirmation percentage, in addition to ensuring timely availability of ambulances with target zero refusal," the official further said.

"States were also advised to analyze availability and need for projected beds and oxygen, and plan in a timely manner. States and district administration have also been advised to ensure good infection prevention and control practices to control infection in the healthcare workers," said the official.

Principal Secretary (Health) and MD (NHM) from the four States along with district surveillance officers, district collectors, commissioners of the municipal corporation, Chief Medical Officers, and Medical Superintendent of Medical Colleges participated in the meeting.

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News Network
March 6,2020

New Delhi, Mar 6: Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.

In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016.

The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.

The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.

Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.

The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.

The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.

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