Tamil Nadu rains: 17 killed in Coimbatore house collapse

News Network
December 2, 2019

Coimbatore, Dec 2: At least 17 people, including seven women and two children, were killed when a wall collapsed on four houses amid heavy downpour in Tamil Nadu's Mettupalayam area on Monday. More peope are feared trapped under the debris and rescue operations are on.

The houses were completely destroyed when a private compound wall, soaked in heavy rains, fell on them.

The total death toll from rain-related accidents have reached 18 across Tamil Nadu with Monday's tragedy in Mettupalayam, north of Coimbatore city.

More showers predicted

Rains lashed many parts of Tamil Nadu and neighbouring Puducherry as the North-East monsoon intensified in the last 24 hours claiming one life in the state capital, Chennai, even as the Met office predicted more showers till Tuesday.

Various parts of the state have been receiving good rainfall since the onset of the monsoon on October 16.

The presence of an upper-air circulation caused heavy to very heavy rains, explained N Puviarasan, the Director of Area Cyclone-warning Centre, Regional Meteorological Centre.

He said light to heavy rainfall may occur over the next 24-48 hours.

"Ramanathapuram, Tirunelveli, Tuticorin, Vellore, Tiruvallur, Thiruvannamalai districts may receive very heavy rainfall in the next 24 hours," he added.

To a query, he said the rainfall recorded since October 1 was 39 per cent which was three per cent higher than the rain received during the setting of the monsoon.

A flood alert has been issued to people living on the banks of river Bhavani in this western district of Tamil Nadu as a dam built across it has surplussed in the wake of copious rains in catchment areas, officials said on Monday.

The water level in the Lower Bhavani Project reservoir reached its maximum of 105 feet and the storage crossed 32 tmc feet against maximum of 32.8 tmc ft, prompting the Public Works Department authorities to more than triple discharge from 3,500 cusecs to 11,950 cusecs on Monday morning.

Consequently, Revenue officials released a flood alert and advised people living on the banks of River Bhavani to move to safer places, officials said.

The dam has filled up for the sixth time this year following heavy rains in the catchment areas in hilly Nilgiris district and Mettupalayam in neighbouring Coimbatore district.

Meanwhile, various formers associations appealed for release of water for irrigation of second turn crops in the Lower Bhavani Project ayacut areas.

Forecast for Chennai

For Chennai and its surrounding areas, light to moderate rainfall may occur over the next two days.

"The city received 51 cm this season which is 9 per cent less compared to the normal 60 cm received during monsoon season," Puviarasan said.

City Police Commissioner A K Viswanathan took stock of situation in the state capital and reviewed the measures taken following the heavy rainfall.

Talking to reporters, Viswanathan said all the departments have been alerted to take stock of situation in a coordinated manner.

He said a WhatsApp group of officers has been formed to ensure that immediate steps would be taken.

"Five teams from the State Disaster Relief Force have been kept on standby and teams from the National Disaster Relief Force, if required, may also join in," he said.

Several low-lying areas in the city were inundated.

A 49-year-old man died at Ambattur on Saturday night after he accidentally fell into a stormwater drain.

Alert for fishers

The Met advised fishermen not to venture into sea at Cape Comorin and Lakshadweep area as gusty winds were likely to occur due to the presence of depression in the Arabian Sea.

To another query, Puviarasan said Nagapattinam district received the maximum rainfall registering 81 cm as against 67 cm normally during the monsoon season.

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Agencies
March 15,2020

Financially troubled Yes Bank on Saturday reported a standalone net loss of ₹ 18,560.31 crore for the third quarter of the financial year 2019-20. This is amongst the biggest losses reported by the India Inc.

At present, the private lender is under a moratorium and is controlled by the office of the administrator appointed by the RBI.

The bank had reported a net profit of ₹1,001.85 crore during the corresponding period of the previous financial year.

Besides, the bank's total income fell to Rs 6,268.50 crore from Rs 8,849.81 crore earned during the October-December quarter of the previous fiscal.

On consolidated basis, Yes Bank reported a net loss of ₹18,564.24 crore for the December quarter from a net profit of Rs 1,000.57 crore in the corresponding period of the previous fiscal.

The independent auditor's review report on the consolidated results pointed out that there is a "material uncertainty related to going concern" of the bank.

"The said assumption of going concern is dependent upon the degree of success of the final reconstruction scheme, the quantum of capital infused into the bank and the bank's ability to stabalise its deposit balances post withdrawal of the moratorium by the RBI. Our conclusion is not modified in respect of this matter," the auditor said.

Furthermore, the bank recognised additional loans of ₹ 5,150.2 crore as NPAs and related provisioning requirements of ₹772.5 crore for the quarter ended December 31, 2019.

The bank has recognised an additional provisions of ₹15,422.0 crore in the quarter ended December 31, 2019.

Last week, the RBI placed Yes Bank under moratorium and capped the withdrawal limit at ₹50,000 till next Wednesday.

Additionally, the central bank also superseded Yes Bank's board of directors and appointed former SBI CFO Prashant Kumar as its administrator.

Meanwhile, Kumar has been appointed as the new Chief Executive Officer of the financially troubled lender. He will take over his new responsibilities once the moratorium on the stressed lender is lifted on Wednesday.

Apart from Kumar, Sunil Mehta, former non-executive Chairman of Punjab National Bank, will take over as the non-executive Chairman of Yes Bank.

Other board members include Mahesh Krishnamurthy and Atul Bheda, both as non-executive Directors.

Additionally, six private lenders have joined the SBI to rescue Yes Bank with Federal Bank committing ₹300 crore by subscribing to 30 crore shares of ₹2 each at a premium of ₹8 per equity share.

The six private lenders have now committed an investment of ₹3,700 crore in the cash-strapped private sector bank.

On Friday, ICICI Bank and Housing Development Finance Corporation (HDFC) Ltd had announced that they will be investing ₹1,000 crore each in Yes Bank's equity. Axis Bank and Kotak Mahindra Bank will be investing ₹ 600 crore and ₹500 crore, respectively, while Bandhan Bank will invest ₹300 crore.

The SBI board has already approved up to 49 per cent stake purchase in Yes Bank, as per the RBI's reconstruction scheme for the lender. It had said on Thursday that an investment of ₹7,250 crore would be made in Yes Bank to pick up₹ 725 crore equity shares.

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Agencies
August 2,2020

New Delhi, Aug 2: Union Home Minister Amit Shah today tested positive for COVID-19 coronavirus infection and has been admitted to a hospital. 

Shah took to social media today to inform about his infection. “I have tested positive but my health is fine," he said, adding that he has been hospitalised on the assistance of doctors. 

The Union Home Minister also appealed to those who came into close contact with him in the last few days to get themselves tested for COVID-19.

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News Network
January 22,2020

Davos, Jan 22: President Donald Trump has said that the US is watching the developments between India and Pakistan over Kashmir "very closely" and repeated his offer to "help" resolve the longstanding dispute between the two neighbours as he met Prime Minister Imran Khan on the sidelines of the World Economic Forum here in the Swiss ski resort.

Addressing the media with the Pakistan Prime Minister prior to their private meeting on Tuesday, President Trump asserted that trade and borders were both critical points for discussion, while Khan said that for him, Afghanistan was the top priority.

Trump told Khan, whom he referred to as "my friend", that he would speak to Prime Minister Narendra Modi about the ongoing Kashmir issue. The US president is expected to visit India in the coming weeks, marking his first visit after taking up his post in the White House.

"What's going on between Pakistan and India … if we can help, we certainly will be willing to. We have been watching it very closely and it's an honour to be here with my friend," he said.

"The Pakistan-India conflict is a very big issue for us in Pakistan and we expect the US to always play its part in deescalating the tensions, because no other country can," Khan said.

President Trump has repeatedly offered to mediate following India's August 5 decision to revoke the special status to Jammu and Kashmir and bifurcate the state into two Union Territories, evoking strong reaction from Pakistan which has been trying to internationalise the Kashmir issue.

New Delhi has defended the move, saying Jammu and Kashmir is an integral part of India and the issue was strictly internal to the country, and the special status provisions only gave rise to terrorism in Jammu and Kashmir.

"The country took the decision of abrogation of Article 370, which had only given separatism and terrorism to that state," Prime Minister Narendra Modi said at a function in October last year.

This is the third meeting between Trump and Khan since Pakistan premier assumed office in 2018 and it came against the backdrop of Pakistan Foreign Minister Shah Mehmood Qureshi's recent trip to the US, amid reports that the US and Afghan Taliban were close to striking a peace deal.

"There are issues we want to talk about. The main issue is Afghanistan because it concerns the US and Pakistan. Fortunately, we are on the same page. Both of us are interested in peace there and an orderly transition in Afghanistan with talks with Taliban and the government," Khan said.

When a reporter asked Trump if he would visit Pakistan considering he was already set to visit India, the US president said he was meeting the Pakistan premier in Davos.

"Well, we're visiting right now. So we don't really have to. I wanted to say that from a relationship standpoint, we got a great relationship. From the standpoint our two countries, we're getting along very well. I would say we've never been closer with Pakistan the way we're right now. And this is a big statement," Trump said.

Khan left for Switzerland to attend the World Economic Forum and meet the world leaders, including President Trump, on the sidelines of the annual event which kicked off at the ski resort town of Davos on Tuesday.

The four-day summit marks the 50th anniversary of the forum.

A total of 53 heads of State are on the guest list. Nearly 3,000 participants from 118 countries are expected to attend the event during which political leaders, business executives, heads of international organisations and civil society representatives are set to deliberate on contemporary economic, geopolitical, social and environmental issues.

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