Bank stocks rise on RBI move, industry welcomes measures
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Steps to expand RBI balance sheet needed, welcome: Kotak
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Steps to expand RBI balance sheet needed, welcome: Kotak
Bank stocks gained on Wednesday after the RBI unveiled measures to support the economy facing headwinds due to the second wave of the pandemic.
Kotak Mahindra Bank jumped 2.42%, Axis Bank 2.41%, Indusind Bank 2.33%, ICICI Bank 1.88%, State Bank of India 1.07% and HDFC Bank 1%on the BSE.
The BSE Bank index gained 1.67%. The 30-share BSE index also gained 424.04 points or 0.88 per cent to close at 48,677.55.
On RBI’s measures, Uday Kotal, president, Confederation of Indian Industry said governor Shaktikanta Das had taken the financial sector battle against Covid 2.0 ‘head-on with a clear focus on protecting lives and livelihoods’.
Fighting Covid: Industry bats for a multi-pronged approach
May 05, 2021
Suggests strategies to meet the cost of vaccination, speed up the process
As the country steps up efforts to battle the second wave of Covid-19, industry associations suggest a multi-pronged strategy to reduce the impact of the virus as well as save the already battered economy from further crisis.
Daily new infections remain at three lakh-plus levels and more than 3,000 people are succumbing to the virus every day. So, vaccination is seen as the way forward.
As the government opened the vaccination window for people in the age group of 18-44, the number of people being administered vaccine doses is on the rise.
Modi Resists Pressure to Lock Down India as Virus Deaths Rise yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Modi Fights Pressure to Lock Down India as Virus Deaths Rise Bloomberg 3 hrs ago
(Bloomberg)
Two weeks ago, Indian Prime Minister Narendra Modi called on states to only consider lockdowns “as the last option.” Now everyone from his political allies to top business leaders and U.S. President Joe Biden’s chief medical adviser see them as the only way to stem the world’s worst virus outbreak.
The debate has been complicated by Modi’s move last year to impose a nationwide lockdown without warning, spurring a humanitarian crisis as migrant workers fled on foot to rural areas. While Modi is keen to avoid that criticism again, particularly after his Bharatiya Janata Party failed to win an election in West Bengal when votes were counted Sunday, even states run by his party are ignoring his advice.
Narendra Modi resists pressure to lock down India as Covid deaths rise
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Narendra Modi resists pressure to lock down India as Covid deaths riseBy Upmanyu Trivedi and Michelle Fay Cortez, Bloomberg
Last Updated: May 04, 2021, 09:35 AM IST
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Synopsis
India’s richest banker Uday Kotak, who heads the Confederation of Indian Industry, urged the government to deploy the military to help care for patients and to take the “strongest national steps including curtailing economic activity to reduce suffering.”
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Two weeks ago, Prime Minister Narendra Modi called on states to only consider lockdowns “as the last option.” Now everyone from his political allies to top business leaders and U.S. President Joe Biden’s chief medical adviser see them as the only way to stem the world’s worst virus outbreak.