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Business News›News›Live news updates: Govt can't leave everything to banks, says SC on interest waiver issue
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Economic Times | 17 Jun, 2020 | 12.19PM IST
Live news updates: Govt can't leave everything to banks, says SC on interest waiver issue
Supreme Court starts hearing PIL questioning the charging of interest on accrued interest on loans during the period of moratorium announced by RBI.
!1 New UpdateClick here for latest updates
What is government's strategy: Randeep Surjewala
Twenty soldiers were martyred but govt kept silent. Govt should take citizens into confidence & tell them how China… https://t.co/BHZjv0zZNg
— ANI (@ANI) 1592375675000Delhi: Police detain Swadeshi Jagran Manch members and some Army veterans who were protesting outside China's Embassy to India
Commanding Officer of Chinese Unit among those killed in face-off with Indian troops in Galwan Valley
Reports ANI
35 dead and injured on Chinese side during clash in Galwan Valley: Official sources quoting US intelligence reports
Reports PTI
Interest rate waivers for bank loans during moratorium will harm depositors: AIBDA
- Interest rate waivers for bank loans during moratorium will harm the depositors, the All India Bank Depositors' Association (AIBDA) has said adding that interest waiver of any kind will dent the credit culture and also impact the financial health of banks.
- Bank depositors will be "severely hit" if a waiver on interest rates is allowed, as banks would inevitably seek to cover their potential or actual loss of interest income through further cutbacks in the deposit interest rates, it said.
SC on interest waiver case: Centre, RBI to review issue, IBA to see if new norms can be brought in
Interest Waiver Case: Supreme Court defers the hearing till 1st week of August
China won't start a war but won't run away from it either, Global Times warns
- A day after the bloodiest border row with China in 45 years left at least 20 Indian soldiers dead, China's govt-backed media biggie Global Times wrote an editorial to issue a veiled threat to its trans-Himalayan neighbour.
- That China does not want a war with India is the nation's goodwill, not weakness, the paper used the occasion to remind India even as tempers continued to flare at several points along the LAC including Galwan, the valley that had erupted into bloody and murderous physical clashes between the two sides on the intervening night of June 15 and 16.
Don't be afraid, come out of hiding and tell truth to the nation
- Rahul Gandhi to PM on Indo-China face-off
SBI tells Supreme Court, 90% of borrowers have not even sought a moratorium. Interest waiver can’t be issued like a free gift
Interest waiver during moratorium: Govt can't leave everything to banks, should consider interfering, says SC
Defence MInister holds a series of meetings
Defence Minister Rajnath Singh holds meeting with 3 Service Chiefs (Army, Navy & Air Force) and the Chief of Defenc… https://t.co/QkvejmTGwV
— ANI (@ANI) 1592372091000Supreme Court to banks: If they don't give interest on interest, then you will term them as NPA
Moratorium Case: What banks said in Supreme Court
- Will have to consider payment deferrals on case-to-case basis
- Will have to consider payment deferrals on sector-to-sector basis
- Petition for interest waiver still premature, we are still in the tunnel
Interest waiver will jeopardize interest of depositors, Solicitor General tells SC
Solicitor General to SC: Interest waiver during moratorium will risk banks' stability
Reports ET Now
SC hears PIL questioning the charging of interest
Supreme Court starts hearing a Public Interest Litigation (PIL) filed by one, Gajendra Sharma, questioning the charging of interest on accrued interest on loans during the period of moratorium announced by the Reserve Bank of India.
Doctors and healthcare workers treating COVID-19 patients should not be denied quarantine facilities: SC
SC hears petition for separate facilities and timely salaries for COVID19 frontline health workers
- Supreme Court hears a petition filed by a doctor, Dr Arushi Jain, for separate facilities and timely salaries, among others, for COVID19 frontline health workers, including doctors and other related staff.
- Solicitor General (SG) Tushar Mehta tells Supreme Court, that the Central govt had already issued a circular saying that the salaries must be paid to doctors&other health care staff, the Chief Secretaries of states must ensure this. Any violation of this, will attract punishment
Sources indicate significant Chinese casualties
The troops who were part of the face-off told about a significant number of Chinese casualties. Although it is difficult to specify the exact number of casualties both killed and wounded, the number is estimated to be much beyond 40, reports ANI quoting sources.
Indian-origin peer elected president of Confederation of British Industry
- British Indian entrepreneur and peer Lord Karan Bilimoria has been elected as the new President of the Confederation of British Industry, a non-profit membership organisation which represents over 190,000 businesses of the UK.
- India-born Bilimoria, the founder of Cobra Beer, had been the vice-president of Confederation of British Industry (CBI) since last year and the 58-year-old entrepreneur was elected President with an "overwhelming majority" during an annual general meeting of the organisation held on Tuesday.
Rajasthan reports 1 death and 122 new COVID19 cases
Odisha: Madan Mohan Dutta, BJP MLA from Balasore, Sadar passes away at the age of 61
It is assessed that the Chinese suffered a significant number of casualties in the violent face off on the night of June 15-16: Sources
Reports ANI
SEBI allows promoters preferential allotment up to 10% Vs 5%
175 more COVID19 cases & 120 recoveries reported in Odisha on 16th June
Radhakishan Damani considers taking control of India Cements
- Radhakishan Damani, the Indian tycoon who built a fortune rolling out his supermarkets across the country, is considering acquiring a controlling stake in India Cements Ltd., according to people familiar with the matter.
- Damani, the owner of Avenue Supermarts Ltd, has informally reached out to the cement manufacturer’s controlling shareholder, N. Srinivasan, to explore a takeover, the people said, asking not to be named as the information is not public.
India set for comfortable victory in UN Security Council elections
India is expected to register a comfortable victory in the Security Council elections on Wednesday that will bring the country to the UN high-table as a non-permanent member for the 2021-22 term.
People in Ahmedabad burnt photos of Chinese President Xi Jinping
AIIB approves additional $750 million loan to strengthen India's Covid response
Co-financed by the Asian Development Bank (ADB), the loan will go towards bolstering economic aid for businesses, including for the informal sector, expanding social safety nets for the needy, and strengthening the country’s health care systems,
Rupee opens at 76.21 per US dollar
Rajnath Singh & Amit Shah to join PM Modi
Defence Minister Rajnath Singh & Home Minister Amit Shah to also attend Prime Minister Narendra Modi's meeting with Chief Ministers of 15 states & UTs via video conferencing today
North Korea's military to reenter inter-Korea cooperation sites
Monumentally surprising
Unless I missed it, Prime Minister Modi has not said one word publicly about the 20 Indian soldiers that lost their… https://t.co/hg6MoAIEX8
— Michael Kugelman (@MichaelKugelman) 1592363325000How dare China kill our soldiers; how dare they take our land
- Rahul Gandhi on Ladakh face-off
Four Indian soldiers are in critical condition after the violent face-off with Chinese troops on Monday evening
Reports ANI quoting sources
2003 deaths and 10,974 new COVID19 cases in the last 24 hours
The total number of positive cases in the country now stands 3,54,065 at including 1,55,227 active cases, 1,86,935 cured/discharged/migrated and 11,903 deaths: Ministry of Health and Family Welfare
COVID-19 Testing Update
COVID-19 Testing (Molecular based) Update . For more details visit: https://t.co/dI1pqwfbRz #ICMRFIGHTSCOVID19 https://t.co/mXyJzLL8Zq
— ICMR (@ICMRDELHI) 1592366917000Petrol price hiked by 55 paise per litre, diesel by 60 paise; rates go up cumulative by Rs 6.02 and Rs 6.4 respectively in 11 days
PTI
Sensex drops 137.02 pts to 33,468.20 in opening session; Nifty falls 56.05 pts to 9,857.95
India set for comfortable victory in UN Security Council elections
- India is all set to join the powerful 15-nation Security Council as a non-permanent member. India is a candidate for a non-permanent seat from the Asia-Pacific category for the 2021-22 term.
- India's victory is certain since it is the sole candidate vying for the lone seat from the grouping. New Delhi's candidature was unanimously endorsed by the 55-member Asia-Pacific grouping, including China and Pakistan, in June last year.
Pakistan violates ceasefire along Line of Control in Naugam sector of Jammu and Kashmir
--PTI
RaGa takes a dig at PM Modi
Why is the PM silent? Why is he hiding? Enough is enough. We need to know what has happened. How dare China ki… https://t.co/0wHrvlNMgV
— Rahul Gandhi (@RahulGandhi) 1592364304000Beijing cancels flights, shuts schools over new virus outbreak
- Beijing's airports cancelled more than 1,200 flights and schools in the Chinese capital were closed again on Wednesday as authorities rushed to contain a new coronavirus outbreak linked to a wholesale food market.
- The city reported 31 new cases on Wednesday while officials urged residents not to leave Beijing, with fears growing about a second wave of infections in China, which had largely brought its outbreak under control.
- Tens of thousands of people linked to the new Beijing virus cluster -- believed to have started in the sprawling Xinfadi wholesale food market -- are being tested, with almost 30 residential compounds in the city now under lockdown.
- Officials have closed 11 markets and disinfected thousands of food and beverage businesses in Beijing after the outbreak was detected.
- Meanwhile, several provinces were quarantining travellers from Beijing, where all schools -- which had mostly reopened -- have been ordered to close again and return to online classes. (AFP)
Asian markets swing as second wave fears offset recovery hopes
- Asian markets fluctuated through the morning with profit-takers also cashing in after Tuesday's big run-up. Hong Kong was up 0.2 percent and Tokyo went into the break 0.7 percent lower a day after a near-five percent surge.
- Shanghai, Sydney and Singapore edged down 0.1 percent with Seoul 0.2 percent off. Manila and Jakarta were up almost one percent while Wellington jumped more than two percent. (AFP)
Fire at warehouse in Greater Noida, none hurt
- A fire broke out early Wednesday at a warehouse of spare parts of an automobile company in Greater Noida, officials said.
- No one was injured in the incident that was reported around 5 am at the facility in the Surajpur area, they said.
- Around a dozen fire tenders were rushed to the spot and the blaze was controlled completely around 8 am, an official from the local police station said. (PTI)
China fears no conflict: Chinese state media
The arrogance and recklessness of the Indian side is the main reason for the consistent tensions along… https://t.co/OFqinaknBE
— Global Times (@globaltimesnews) 1592324693000Chinese side has suffered 43 casualties: ANI
Indian intercepts reveal that Chinese side suffered 43 casualties including dead and seriously injured in face-off… https://t.co/cC16ZrArP3
— ANI (@ANI) 1592324641000China brazens it out
#China has lodged solemn representations against Indian troops who crossed the border and took provocative actions,… https://t.co/GFBXXIa3Zg
— Global Times (@globaltimesnews) 1592326414000Beijing airports cancel 1,255 flights over virus fears
AFP
Indian-American businessman charged with COVID-19 relief fraud
- An Indian-American owner of several information technology companies in the Chicago area has been charged with COVID-19 relief fraud running into USD400,000, federal prosecutors have said.
- Rahul Shah (51) has been charged in a criminal complaint filed in the Northern District of Illinois with bank fraud and making false statements to a financial institution.
- According to the complaint, Shah filed a bank loan application that fraudulently sought more than USD400,000 in a forgivable Paycheck Protection Program loan guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
S.Korea says will no longer accept unreasonable behavior by North Korea
217 stranded Indians come home
The second flight of Air India took off from Auckland airport this morning carrying 217 stranded Indians from New Z… https://t.co/WQxsv8LmkO
— ANI (@ANI) 159235756600044 more cases of COVID-19 reported in Madhya Pradesh's Indore
ANI
Brazil reports highest daily jump in virus cases
- The country, which has the second-highest number of coronavirus cases and deaths in the world, after the United States, reported 34,918 new cases and 1,282 new deaths in the past 24 hours.
- That brought Brazil's total caseload to more than 923,000, and its death toll to 45,241.
- Experts say under-testing in the country of 212 million people probably means the real figures are much higher.
- The grim new record came as the World Health Organization's top official for the Americas again voiced concern over the situation in Brazil.(AFP)
Petrol and diesel prices at Rs 77.28/litre (increase by Re 0.55) and Rs 75.79/litre (increase by Re 0.69), respectively in Delhi today.
Naveen Patnaik salutes bravehearts
Join the nation to salute the bravehearts of #IndianArmy who made the supreme sacrifice at #GalwanValley, protectin… https://t.co/N2ZQlBQnSF
— Naveen Patnaik (@Naveen_Odisha) 1592357454000Mexico records 3rd highest daily death numbers
- Even as Mexico announced plans for reopening churches and religious events, the country posted near-record numbers of newly confirmed cases and deaths from COVID-19 on Tuesday.
- The Health Department reported that confirmed cases rose by 4,599, the second-highest daily increase to date, to reach an accumulated total of 154,863.
- Deaths rose by 730, the third-highest daily confirmation number, after one-day increases of 1,092 and 816 earlier this month.
- Those death tolls rivaled those of the United States. (AP)
China reports 11 new asymptomatic coronavirus cases in mainland
-Reuters
North Korea's military to reenter inter-Korea cooperation sites
- North Korea will redeploy troops to now-shuttered inter-Korean cooperation sites, reinstall guard posts and resume military exercises at front-line areas, nullifying the landmark reconciliation deals reached with South Korea just two years ago.
- The announcement came a day after North Korea destroyed an inter-Korean liaison office in a choreographed display of anger that puts pressure on Washington and Seoul amid deadlocked nuclear diplomacy.
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