Banks will take 12-18 months to show covid symptoms
A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, India July 8, 2019. REUTERS/Anushree Fadnavis/File Photo
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Deep Mukherjee
Early signs suggest that government measures such as the Emergency Credit Linked Guarantee Scheme (ECLGS) is providing some relief to covid-impacted businesses
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Early signs suggest that government measures such as the Emergency Credit Linked Guarantee Scheme (ECLGS) is providing some relief to covid-impacted businesses. Additionally, the Reserve Bank of India’s (RBI) moratorium and its subsequent one-time-restructuring (OTR) scheme have contributed to keeping the non-performing asset (NPA) levels of banks in check. Following a Supreme Court (SC) stay order, banks have not tagged the loans of specific borrowers as ‘NPAs’ since August 2020. Institutional lenders, though, have started reporting portfolio-level pro-forma
(Business in Cameroon) - For XAF30.5 billion, Indian firm KEC International Limited will build a 400kV power line connecting Edea (in the Littoral region of Cameroon) to Nyom II (a suburb in Yaoundé, Cameroon’s capital). The information is contained in the contract award notice recently published by Victor Mbemi Nyaknga, director-general of the National Electricity Transport Corporation (SONATREL), at the end of the procurement procedures for the design and construction of the said electricity infrastructure.
KEC International Limited won the contract ahead of Chinese firms TBEA, China International Water & Electric Corps, and Synohydro as well as another Indian company, Transaillighting namely.
March 1, 2021
The Petaluma Creamery will have its wastewater discharge permit revoked today by the city. The business is now at risk of closing down if they don’t pay delinquent fines and fees totaling over $1 million by the end of today. If the bill is not paid, the creamery would have two weeks to wind down operations before the city cuts off access to its wastewater infrastructure on March 13th.
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Pressure politics, if used wisely, can be a powerful tool. The best example is Sri Lanka. In April last year, the country introduced a new rule. All coronavirus victims would be cremated and no burials.
There was no scientific explanation for it. A few Buddhist monks claimed burying the victims would contaminate the ground and the government agreed. A classic case of appeasement politics but they probably didn't anticipate the backlash. Rights groups and community leaders were appalled.