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Covid 2.0 estimation quite devastating, but impact to be lower than in FY21: Udaya Kumar Hebbar

Covid 2.0 estimation quite devastating, but impact to be lower than in FY21: Udaya Kumar Hebbar
May 12, 2021
Udaya Kumar Hebbar, Managing Director and CEO, CreditAccess Grameen×
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As Covid-19 second wave of infection has spread, how is the company gearing up to face it?
The sudden spread of the second wave of Covid-19 pandemic has again created a challenging and operating environment. We are anticipating the collections to witness a temporary decline in Q1 FY22 on account of several intermittent lockdowns/ restrictions being imposed across various states. The situation impacts the customers’ ability to manage their activities, as well as our ability to ensure seamless meeting with the customers. Our preliminary estimation is that the Covid2.0 is quite devastating, but impact on business will be lower compared to FY21. We draw confidence based on sufficient learning acquired last year to effectively manage the payment behaviour of borrowers in case of long duration moratorium.

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A month of national lockdown can eat up 1-2% of GDP: Report

Updated:
April 26, 2021 19:31 IST
“A month of nationwide lockdown costs 100-200 bps of GDP. This poses a 300 bps risk to our 9% real GVA growth forecast for FY22,” Bank of America Securities India economists said
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They also expect the Reserve Bank to come to aid by funding government’s welfare measures like resumption of free food grains to the needy in May-June.
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“A month of nationwide lockdown costs 100-200 bps of GDP. This poses a 300 bps risk to our 9% real GVA growth forecast for FY22,” Bank of America Securities India economists said
A month-long national lockdown to arrest the spread of COVID 2.0 could shave off 100-200 bps of GDP, leading to a 300 bps risk to annual growth, a brokerage report has flagged while expressing doubts over the ability of local lockdowns to control the pandemic.

United-states , America , Indranil-sen-gupta , Aastha-gudwani , America-securities-india , Reserve-bank , National-lockdown , Covid-2-0 , Gdp , Annual-growth , Brokerage-report

How to manage Covid 2.0 - The Hindu BusinessLine

How to manage Covid 2.0
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As far as possible a lockdown should not be reimposed but a strong decentralised system of healthcare must be built
Experts in India and elsewhere are not sure when the Covid pandemic is likely to peak. As saving lives and preventing possible economic disaster are critical now, achieving 11 per cent growth in the the current year has become a peripheral issue. The sustainability of the current medi-care and support systems is being challenged by non-availability of critical drugs and equipment, besides the deteriorating finances and diminished revenue collections of State governments.
The key concern for the next couple of months is saving human life. Even as the pandemic enters the second wave, posing a risk to millions, healthcare services remain inadequate and unsatisfactory. Also, the threat is equally serious for people not having enough purchasing power to buy food and other essentials for survival; only 15 per cent of the country’s workforce has income/pension security. Migrants are already queuing up at railway and bus stations, to return to their home-towns.

Bhopal , Madhya-pradesh , India , Mumbai , Maharashtra , Hyderabad , Andhra-pradesh , Raipur , Chhattisgarh , Pune , Delhi , Bengaluru

Covid 2.0: Curfews, partial lockdowns threaten India's economic recovery

Covid 2.0: Curfews, partial lockdowns threaten India’s economic recovery
Covid 2.0: Curfews, partial lockdowns threaten India’s economic recovery
Night curfews and weekend lockdowns imposed by various state governments pose a threat to India's economic recovery. Malls, showrooms and branded shops across the country are largely empty due to government restrictions.
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UPDATED: April 17, 2021 16:26 IST
Delhi Chief Minister Arvind Kejriwal on Thursday announced a weekend curfew in the national capital. The weekend curfew will be enforced from 10 pm on Friday till 6 am Monday. (PTI)
The Indian economy, which was recovering at a snail’s pace, has been hit by the rising number of Covid-19 cases across states and subsequent curfews/lockdowns imposed by various state governments.

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Dr. Lal Pathlabs Ltd.: Red flag goes up on diagnostic stock after Covid 2.0 lifted it 51% in 2 months

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NEW DELHI: From a market price of Rs 2,250 at the end of January to a record high of Rs 3,398.95 on Monday, shares of Dr Lal Pathlabs have rallied 51 per cent in just two months. Following this strong rally, a host of brokerages have turned cautious on the stock, with some predicting that a big fall in the stock may be imminent.
The latest brokerage to give such a call is Nomura, which on Tuesday downgraded Dr Lal Pathlabs to ‘reduce’ rating with a price target of Rs 2,333, marking a 30 per cent downside. The stock fell almost 12 per cent for the day.

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ETMarkets Investors' Guide: Will bank stocks be the biggest casualty of Covid 2.0?

ET Markets RadioTune in now for Markets news, views & cues
ETMarkets Investors' Guide (ETMarkets.com)
13:44 Min | April 11, 2021, 3:51 PM IST
We dig deeper on the outlook for banking stocks amid Covid 2.0. Listen in.
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Transcript
Hello, you have tuned into ETMarkets Investors' Guide, a show about asset classes, investment ideas and market trends. I am Nikhil Agarwal.
As investors lap up stocks from defensive sectors like IT, pharma and FMCG, besides metals, in a choppy market, financials seem to be losing their charm. Investors fear the second wave of Covid may worsen the outlook for banks. Bank Nifty lost 4 per cent in value terms last week and is down over 9 per cent on a monthly basis. Metals, on the other hand, continue to mint money for investors.

Rajiv-nagpal , Nikhil-agarwal , Bank-nifty , Investor-guide , Stock-market , Podcast , Outlook , Etmarkets-investors-guide , Covid-2-0 , Co-vid , Bank-stocks , ராஜீவ்-நாக்பால்

Dan Haar: Hope amid chaos for CT's first vaccinated couple

Dan Haar: Hope amid chaos for CT's first vaccinated couple
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Ewelina and Dr. Michelle McDade, who both work for Hartford HealthCare were the first married couple to receive the COVID-19 vaccine. Ewelina, shown being inoculated in her left arm on Dec. 14, is manager of nursing education at the Hospital of Central Connecticut in New Britain, Bradley Memorial in Southington and Mid-State Medical Center in Meriden, and a former ER nurse. Michelle, shown in a print shirt getting a shot in her right arm, is associate chief of emergency medicine at Hospital of Central Connecticut.Curtesy of Michelle and Ewelina McDadeShow MoreShow Less

Southington , Connecticut , United-states , Farmington , New-britain , Poland , Meriden , Polish , Bill-cummings , Michelle-mcdade , Pfizer , Hartford-healthcare

Farewell, Chris + Summer fare deals, Losing London, more travel news

Farewell, Chris + Summer fare deals, BA still flies to London, more travel news
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In this week's TravelSkills on SFGATE newsletter...
Dear Readers: This will be the last issue of this newsletter with me at the helm. I've truly enjoyed and long and colorful career cranking out the content and advice for you all, and seeing the big beautiful world in the process. Stay safe and travel well! --
Chris McGinnis (chris@travelskills.com)
Part 1: I've been writing about travel for 30 years, and one of the most frequent questions from readers is it how it all started and how I ended up with what many people (including me!) think of as one of the best jobs in the world. I am a self-taught world traveler, and my education began way back in the 1960s. In those days, there was no internet, and among the few ways for kids to learn about the world beyond their hometowns was the monthly issue of National Geographic magazine. I was a voracious reader of it as my young mind dreamt of escape and adventure.

Haneda , Wakayama , Japan , Mount-rushmore , South-dakota , United-states , Alaska , Singapore , Florida , San-francisco-park , California , London