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Economic Times | 02 Sep, 2020 | 04.18PM IST
Live news updates: Govt announces Mission Karmayogi
Mission Karmayogi aims to prepare Indian Civil Servants for future, said Prakash Javadekar.
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Union Cabinet approves Mission Karmayogi for bringing post-recruitment reforms in govt: Union Minister Javadekar
A PM-headed council to approve civil services capacity building plans under Mission Karmayogi: Union Minister Prakash Javadekar
Air Intelligence Unit in Kannur seized 1.12 kgs gold in compound form (978.5 gram extracted) valued at Rs 50.42 lakhs. One passenger arrested, further investigation is in progress: Commissionerate of Customs (Preventive), Kochi
Air Intelligence Unit in Kannur seized 1.12 kgs gold in compound form (978.5 gram extracted) valued at Rs 50.42 lak… https://t.co/jm57ID9GlX
— ANI (@ANI) 1599040308000We have forged an alliance with Janata Dal (United) & have become a part of the National Democratic Alliance (NDA). There has been no discussion about seat-sharing in the next Bihar Assembly elections: Hindustani Awam Morcha chief Jitan Ram Manjhi
In view of the need to optimise usage of available inpatient beds for hospitalisation of seriously ill emergency/ semi-emergency patients, it has been decided to temporarily stop routine OPD admissions for two weeks: AIIMS, Delhi
High Court permits Parsis to pray at community temple on Thursday
Mission KarmaYogi
#MissionKarmaYogi: ▪️Supporting Transition from ‘Rule based’ to ‘Role based’ HR Management. ▪️iGOT-Karmayogi Digi… https://t.co/zb4HkTCpRd
— All India Radio News (@airnewsalerts) 1599040492000Arguments in loan moratorium will continue tomorrow in Supreme Court
West Bengal CM Mamata Banerjee writes to PM Modi expressing displeasure over recent developments regarding GST
Mission Karmayogi aims to prepare Indian Civil Servants for future by making them more creative, constructive, imaginative, innovative, proactive, professional, progressive, energetic, enabling, transparent and technology-enabled: Govt of India
Cabinet approves Mission Karmayogi - National Programme for Civil Services Capacity Building
Urdu, Kashmiri, Dogri, Hindi and English to be official languages in J-K under new Bill approved by Cabinet: Union Minister Javadekar
SC declines to entertain Netflix plea on use of Subrata Roy's name in series
Inter-district bus transport will start in Tamil Nadu from Sept 7
Odisha Govt requests UGC to extend deadline of 30th Sep for completion of all UG & PG final semester/year examinations, till 10th Oct
OPD services temporarily suspended at AIIMS, Delhi
ANI
Australia's economy takes sharpest dive since the 1930s
- The economy shrank 7% in the June, the biggest contraction since records began in 1959
- The country is now in recession for the first time in 28 years
- The previous biggest downturn since Australia began keeping records in 1959 was a 2% fall in June 1974.
Passenger train services within Tamil Nadu will be allowed from Sept 7
--CM K Palaniswami
Border tension: India, China hold another round of Brigade Commander-level talks
There will be no Question Hour during this Monsoon session of Parliament. No Private Member’s Bills on Fridays
Moratorium Case: SC resumes hearing of petitions
Rupee settles 16 paise lower at 73.03 (provisional) against US dollar
August gold imports doubles YoY to hit 8-month peak: Govt source
HMSI sales in August drops 2 per cent at 4,43,969 units
Justice Arun Mishra bids farewell to the Supreme Court
Metro reopening: Delhi L-G accepts AAP government's proposal
Vodafone Idea Board to meet on September 4 to discuss funding plans
Vistara, Japan Airlines enter frequent flyer partnership
A frequent flyer program (FFP) is a loyalty programme wherein a passenger earns points for travelling on an airline's flights, which can then be used to get rewards on the same airline or partner companies.
Moratorium Case: Hearing of petitions to resume at 2 pm
Hyundai Motor India appoints Ganesh Mani and Tarun Garg to its board
SC rejects Netflix plea against Bihar court's order asking it not to use name of Subrata Roy in its web series 'Bad Boy Billionaires'
UPSC asks students to download e-admit cards from its website
Some announcements regarding Civil Services Exam also expected at the Cabinet Briefing at 3 Pm by Jitendra Singh & Prakash Javadekar.
India’s Case Fatality Rate (CFR) stands at 1.76%, one of the lowest globally while global CFR stands at 3.3%
Banks free to restructure loans, but can't penalise borrowers availing moratorium benefit, SC told
Banks are free to restructure loans but they cannot penalise honest borrowers by charging interest on deferred EMI payments under the moratorium scheme during the COVID-19 pandemic, a petitioner opposing the move said in the Supreme Court on Wednesday.
Impact of moratorium not yet reflected in the books of banks
- Under the mercantile system of accounting, banks continue to book interest income on loans which are under moratorium.
- With the RBI declared moratorium having ended on August 31 -- and assuming that the Supreme Court does not extend it --- banks would rejig the loans to give borrowers a second chance.
- The recast loans may have a lower interest rate, longer repayment period, and even an initial period of moratorium --- during which interest would not have to be paid immediately.
Kerala CM writes to PM Modi to convey concerns of his govt with regard to hurdles in payment of GST compensation to the states
Moratorium Case: Ravindra Shrivastava refers to Section 35 of the Disaster Management Act
- The Act gives the Central government power to take measures in case
- Senior Advocate Ravindra Shrivastava appearing for one of the petitioners
Govt said to mull $1bn share sale offering in IDBI Bank: Agencies
Price as on 02 Sep, 2020 12:31 PM, Click on company names for their live prices.
Moratorium Case: Relief should be given sector wise, says Ranjit Kumar
Ranjit Kumar, appearing for Shopping Centres Association of India, points out that the shopping centres and malls have not done well during the lockdown as opposed to pharma, FMCG and IT sectors that did well, reports Bar & Bench
The moratorium period expired on August 31 so as on yesterday all those accounts have been ipso facto declared as NPAs. It's a computer-managed automated system so the accounts are NPAs now
- Ranjit Kumar (Source Bar & Bench)
All parameters of economy show shrinkage, recession
- Ranjit Kumar, appearing for Shopping Centres Association of India in Moratorium case
Telecom stocks extend gains after AGR verdict
Price as on 02 Sep, 2020 12:04 PM, Click on company names for their live prices.
Hyderabad Metro Rail to resume operations from September 7
KV Vishwanathan refers to Section 7 of the RBI Act which provides for the Central govt to give directions to RBI from time to time in public interest
KV Vishwanathan, arguing for Power and Real Estate sector (Source Bar & Bench)
IAF image is dented as movie 'Gunjan Saxena -The Kargil Girl' shows that force is gender-biased
- Centre to HC
SC asks APP, CREDAI: What kind of directions do you expect ?
Assocation of Power Producers (APP) to SC:
- This isn't a normal situation, it's an unprecedented pandemic
- Power Producers are amongst the most stressed sectors
- Force majeure should be applied in this extraordinary situation
Question for consideration before the Court is on the doctrine of proportionality considering the situation has been declared a force majeure situation
- KV Vishwanathan, arguing for CREDAI MCHI (Source Bar & Bench)
Moratorium Case: Is RBI deciding on concessions only for big lenders? asks CREDAI in SC
If RBI is a regulatory body then RBI does have the power to regulate this. The interest can be turned into a term loan.
- Aryama Sundaram, arguing for CREDAI (Source Bar & Bench)
Moratorium Case: Unfair to charge penal interest, this may lead to increase in NPAs, says CREDAI
Reports ET Now
CREDAI seeks moratorium extension at least for 6 months
CREDAI - an association for real estate developers
Rajiv Dutta: Interest on interest is absolutely and prima facie wrong and they cannot charge it.
Reports Bar & Bench
Goa Chief Minister Pramod Sawant tests positive for COVID19
Rajiv Dutta to SC: RBI is statutory regulator, not an agent of banks
ET Now
By charging interest on interest, these Banks are treating this as default, this is not default on my part: Senior lawyer Rajiv Dutta
Senior lawyer Rajiv Dutta appearing for borrower with 2 ongoing loans from ICICI
The question that arises for consideration is... the public at large is going through a hell of a time I will not go into all that... They came up with a scheme to help us but this is a double whammy for us since they will charge us with compounded interest
- Senior Advocate Rajiv Dutta (Reports Bar and Bench)
