MONDAY I-T dept on Sunday asked banks to refund charges collected on transactions carried out through RuPay cards or BHIM-UPI 31 REFUND UPI CHARGES TAKEN SINCE JAN 1: CBDT TO BANKS AUGUST, 2020 morningstandard.in PRESCRIBED ELECTRONIC MODES facebook.com/TheMorningStandard twitter.com/TheMornStandard instagram.com/themorningstandard DARK FUTURE TWO BOYS HIT BY PELLETS IN J&K Both received injuries in the eyes on Saturday A CAPITAL VIEW OF NEWS PAGE 8 Alarm bells as bad loan load bleeds mega China banks EXPRESS NEWS SERVICE IF what’s happening with China’s banks envelops into an Asian trend, then India has much to worry . On Sunday, Chinese lenders disclosed two unsettling developments. One, China’s five largest state-run banks turned in their biggest profit falls in at least a decade, alongside an increase in NPAs during Q2. Two, four of them parked significant sums towards provisions against bad loans to brace for future losses, courtesy coronavirus and the risk of uncertainty that’s likely to be transmitted to the banking system. This is a notable departure from Q1, when Chinese banks bucked the global trend punching in enviable profits and steady bad loans. It also gives us a glimpse into the pandemic and the economic slowdown’s impact on financial institutions. NPAs shot up at the big five Chinese banks — four of which figure among the world’s top ten — during Q2, compelling them to increase their provisioning. According to data from the China Banking and Insurance Regulator Commission, overall net profit of China’s commercial banks plunged 9.4% during the first six months of 2020. These include the Agricultural Bank of China, China Construction Bank Corp, Bank of Communications Co, Bank of China and Industrial and Commercial Bank of China. Back home, Indian banks seem to have all the trappings of looming trouble. RBI has already bugled a warning D E L H I Recovered Death Active cases Total +ve cases Cumulative 1249 154171 22 4426 -- 14793 2024 173390 (COVID-19) PATIENT MANAGEMENT Total beds Hospital 14145 Covid care centre 10143 Covid health centre 599 annually, faster than the 4% seen in FY20, according to Moody’s. However, uncertainty surrounding growth recovery and the ongoing clean-up of balance sheets were making it difficult for banks to raise equity from markets. Retail, and MSME loans will likely lead the bad loan rise, delaying the ongoing clean-up of legacy corporate NPAs. RBI Governor Shaktikanta Das has asked banks to step up capital raising. C O V I D STATUS OF CASES Today that NPAs may shoot up to 14.5% in FY21 from 8.5% in FY20. The actual rot may manifest much later thanks to the loan restructuring scheme for borrowers to tide over the current crisis. Initial estimates say India’s state-run banks may need `2 lakh crore over the next two years. Of this, `1 lakh crore is to build loan-loss provisions to 70% of NPAs and a similar amount to grow loans 8-10% Occupied Vacant 4030 10115 876 5113* 336 263 HOME ISOLATION : 7527 *4154 beds of CCC are occupied by persons under quarantine including travellers who came by Vande Bharat Mission and bubble flights Source: Delhi health bulletin | Data for Aug 30 W A T C H (COVID-19) TESTING STATUS 6,881 13,556 RTPCR/CBNAAT/ TrueNat tests conducted Rapid antigen test conducted in city 15,69,096 82,584 Total tests done so far Tests per million n Containment zones as on date: 820 n Calls received in control room: 113 n Total number of calls dispatched to ambulances: 1391 n Total number of calls refused: Nil l NEW DELHI l J8.00 l PAGES 12 This is the highest single-day spike since July 10; active cases have increased; patient count in hospitals going up Non-Delhiites occupying 30% beds in city hospitals S O M R I TA G H O S H @ New Delhi IN a worrying trend, the singleday tally of fresh Covid-19 cases in Delhi crossed the 2,000mark again after a gap of over one-and-a-half months, even as the government prepares to reopen the Delhi Metro. According to the daily health bulletin issued by the state government on Sunday, 2,024 new cases were reported, taking the tally to over 1.73 lakh, while the death toll mounted to 4,426 with 22 fatalities in last 24 hours. The last time Delhi saw more than 2,000 cases in day was on July 10. The national capital has reported an increase in the number of news cases for the sixth consecutive day . Currently the city has 14,793 , active cases out of which 7,527 are in home isolation. The recovery rate has also come down by one per cent compared to Saturday, which is 88.91. The positivity rate is 9.90 per cent. The patient count in hospitals has also increased to more than 5,000 admitted, including those on ventilator and oxygen support. While the increase in occupancy of beds in hospitals is owing to the patients coming from neighbouring states and cities, according to the Delhi government, experts have earlier stated that the rise is a result of more relaxations and people stepping out of the house without wearing masks. Many locals have been seen not maintaining social distancing as well. Experts had earlier also claimed that with the opening of the metro services on September 7, as announced, the cases of coronavirus are likely to go up further. Fresh and active cases have shown an increase even as the Delhi government has not yet been able to further ramp up testing despite Chief Minister Arvind Kejriwal announcing on Wednesday that Covid-19 tests in Delhi will be doubled to 40,000 per day within a week. S I D D H A N TA M I S H R A @ New Delhi After a long wait, people of Delhi will be able to travel by metro again. We will ensure COVID-19 protocols — social distancing, thermal screening, smartcard-based ticketing — are strictly followed Once metro services resume, DMRC will strive to facilitate all necessary measures and precautions on its premises to provide a safe travelling experience to its commuters amid the ongoing pandemic Kailash Gahlot, Transport Minister, Delhi Government Anuj Dayal, Executive Director, Corporate Communications, DMRC Longer halt of trains, lesser people in lifts Limiting the number of people in lifts, longer halting time for trains at stations to allow commuters to board and alight with social distancing norms are among the measures the Delhi Metro will take to ensure safer travel for its passengers. Only 2-3 persons will be permissible inside a lift at a time instead of 8-9. services strictly taking care of all the protocols and precautions,” Gehlot said. For now, no tokens will be issued and passengers will be able to travel only with smart cards. To ensure contactless travel, digital methods will be adopted to recharge smart cards. All steps will be taken to ensure one-metre distance between passengers in the train, including marking of seats. The airconditioning system in the coaches will be operated as per new guidelines so that there is a constant flow of fresh EXPRESS NEWS SERVICE @ New Delhi WITH Delhi Metro prepared to resume operations from September 7 after a long gap of five months, Transport Minister Kailash Gahlot on Sunday announced the Covid-19 protocols that will be followed to ensure safe travel for commuters and prevent a spike in cases, “Resumption of Metro services will provide great relief to the public of Delhi. In a way similar to how we successfully restored the bus services in Delhi, we will restore metro Pandemic pushes Census, NPR out of 2020 EX P R ESS N E WS S E RV I C E @ New Delhi THE continued spread of coronavirus is expected to delay the first phase of the Census and the exercise to update the National Population Register (NPR), both of which were scheduled for this year. Citing the worsening pandemic situation, officials said Census is not an essential exercise for now. “Even if it is delayed by a year, there would be no harm,” a senior government functionary said. While a final decision is yet to be taken, it is almost certain that both the Census and the NPR exercises won’t begin in 2020, the officer indicated. The house-listing phase of the Census and the NPR updation were earlier slated to be held between April 1 and September 30. “As the entire exercise needs the involvement of lakhs of officials and visit to The collapsed bridge on Wainganga river following heavy rains in Seoni district of Madhya Pradesh | PTI few days caused flooding in the Wainganga river and its tributary This resulted in Bhimgarh . Dam getting filled to its full capacity. Owing to this, excess water had to be released from the dam on the night og August 27-28, which caused the bridge WITH the number of Covid-19 cases in Delhi rising, the AAP government is worried about ‘non-residents’ filling up the hospitals. According to a study done by the Delhi government on the number of admissions in the last one month at government and private hospitals in the national capital, it has been observed that around 30 per cent of the coronavirus patients are from other states and their number is only increasing. According to sources, between July 26 to August 28 there have been around 10,099 admissions in government hospitals, out of which 2,874 were from outside Delhi. In the same period, around 397 deaths have been recorded in the hospitals of which 210 are of non-residents. The month’s data collated till August 28 showed that around 900 hospital beds have been occupied so far. The highest number of hos- pital admissions is from the neighboring states of Uttar Pradesh and Haryana. Of the 120 non-residents admitted to Delhi hospitals on August 28, as many as 64 belonged to UP, while 39 were from Haryana. The report highlights that the occupancy of non-Delhiites in city hospitals is around 30-33 per cent in August. The data pointed to a similar occupancy rate is in some major private hospitals. Of the 98 patients admitted to B L Kapoor Hospital, 51 were from outside the city. Similarly, 111 out of 158 patients admitted to Apollo Hospital were not from Delhi. Delhi’s health minister Satyendar Jain earlier this month had said that around 35% of beds in Covid hospitals in the capital are currently occupied by patients from other states. In June, CM Arvind Kejriwal had announced to reserve the beds in government as well as private hospitals for Delhiites, but the order had been reversed by L-G Anil Baijal a day later. Smart travel on the cards as Metro gears for reopening E X P R E S S N E W S S E R V I C E @ Bhopal this year. Though yet to be inaugurated, it was already in use. The district administration has ordered a probe into the collapse of the bridge. J P Mehra, Executive Engineer, PMGSY, in Seoni district, said, “Heavy rains over the last 1.5 billion NUMBER OF TRANSACTIONS CLOCKED BY UPI-BASED PAYMENT SYSTEM IN JULY Delhi’s Covid-19 tally crosses 2K again each family the health risk in, volved in it cannot be undermined,” the official said. As per the earlier schedule, the Census would have its reference date as March 1, 2021, and in the snow-bound areas of J&K, Himachal Pradesh and Uttarakhand, it would be October 1, 2020. “The Covid-19 threat is still looming large. The Census and NPR are not in the priority list of the government,” another official said. MP: High-capacity bridge built 2 months ago washed away TWO high capacity bridges in Seoni district of Madhya Pradesh, one of which was completed just two months ago, collapsed as torrential rains have lashed large parts of the state for last three-four days. As many as 14 people have died in flood and rain related mishaps across the state over the last 24 hours. Both the bridges which collapsed were built over the river Wainganga in Seoni district in the Mahakoshal region of MP. While one bridge, built 10 years ago, connected Chhapara and Bhimgarh, the other one was completed just two years ago and connected Sonwara and Dhanora. Each of the two bridges was built at a cost of more than `3 crore. The second bridge was built under the Pradhan Mantri Gramin Sadak Yojana. Its construction began in September 2018 and was completed in June According to Section 269SU in the Finance Act 2019, businesses having sales/ turnover/gross receipts of over `50 cr must provide facilities for accepting payments through prescribed electronic modes. In Dec 2019, debit cards powered by RuPay, BHIM-UPI, UPI QR Code were notified as prescribed electronic modes to collapse.” The other bridge is located three km from the Bhimgarh Dam, from which around 2.20 lakh cusecs of water was released over the last two days. Heavy rains for the last threefour days have triggered flood- ing of major rivers in central MP and Mahakoshal region, including the Narmada, Pench and Wainganga, affecting thousands of people in 454 villages in 12 districts. At least 14 persons have died died, including four of a family in Katni, three in Chhindwara, two in Seoni, two in Jabalpur and one each in Sehore, Raisen and Bhopal. Around 5-10 more people reportedly were swept away in flooded nullahs and rivers in the state. As many as 120 out of 251 reservoirs in MP are full, requiring dam gates to be opened to let out excess water. The state had received 815.2mm of rain till Saturday morning against the expected rain of 743 mm. Chief Minister Shivraj Singh Chouhan conducted aerial survey of the affected districts on Sunday and reviewed the rescue work. Around 11,000 people were rescued by the NDRF, SDRF and Army teams as well as the IAF choppers. air inside. The trains will not stop at all stations. A list of stations where services are being restored is being prepared and will be made public soon. Additional civil defence volunteers will be deployed to ensure that the stations do not get crowded. Provision of sanitisers will be made at every station. Wearing mask will be must, and if a passenger is found to be travelling in violation of the rules, DMRC officials and security personnel posted will have the power to generate a challan. BLEAK OUTLOOK Fiscal deficit set to widen to 7%, says new forecast EXPRESS NEWS SERVICE @ New Delhi GIVEN the bleak revenue collection scenario amid Covid-19 induced economic disruption and higher expenses to boot, the Central government’s fiscal deficit is set to widen to 7% in the current financial year, says a new report. This is double the government’s target for FY21. The situation could be exacerbated by the fact that states have been allowed to borrow more to make up for the shortfall in GST revenue. The consolidated fiscal deficit of the Centre and states “could reach 12% of the GDP”, warns the report by Brickwork Ratings. Fiscal deficit is the difference between the government’s total income and total expenditure. The government is facing a double whammy. On the one hand, the nationwide lockdown imposed to arrest the spread of the coronavirus has badly hit revenue collection. AWARD LAKE REVIVED BY DELHI GOVT GETS CENTRE’S AWARD On the other, expenditure shot up, taking deficit to record levels of over `6.62 lakh crore in the April-June quarter, which was 83.2% of the target for the whole financial year. Fiscal deficit had already reached a seven-year high at 4.6% of the GDP in 2019-20. Going forward, the numbers don’t look promising, as GST shortfall is expected at `3 lakh crore while borrowing could be higher than expected. “Our baseline estimate is that the fiscal deficit will surge to `13 lakh crore in FY2021 from the budgeted level of `8 lakh crore,” says Aditi Nayar, principal economist at ICRA. The latest report by the International Monetary Fund pegs India’s fiscal deficit at 7.4% of the GDP in 2020. Earlier this month, India Ratings had forecast the fiscal deficit of the Centre and state governments will be 12.1%. Emkay Global Financial Services pegs fiscal deficit to rise to over 6.8% of the GDP . Rajokri Lake near Gurugram border was rejuvenated by the Delhi Jal Board through an advanced wetland ssystem and has been appreciated by the Union Jal Shakti Ministry | P4
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