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 morat
As Washington reevaluates each county, King, Snohomish, others at risk of Phase 2
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TEMPORARILY CLOSED: sign on a door. Business owner in medical mask puts a CLOSED sign on the front door due to the coronavirus COVID19 pandemic. Small business incurs losses during the coronavirus.DeSid/Getty Images/iStockphoto
Several counties across Washington, including King County, are at risk of moving back to Phase 2 of the state s reopening plan.
According to a recent analysis of the most recent complete data from the Washington State Department of Health, nearly a dozen of the counties still in Phase 3 were not meeting either metric on coronavirus cases or hospitalizations needed to remain in the third phase. More were exceeding the threshold for at least one of the metrics.
A more powerful and dangerous threat : Officials urge vaccinations as Washington faces fourth wave
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Washington Gov. Jay Inslee approaches a podium outside of the governor s mansion on the Capitol campus Thursday, April 15, 2021, in Olympia, Wash. Inslee held the outdoor news conference to urge people to get vaccinated and to socialize and conduct business outside as much as possible to help slow further the spread of COVID-19.Rachel La Corte/AP
Gov. Jay Inslee struck a dire tone Thursday as he warned Washington was facing a fourth wave in the COVID-19 pandemic one that represented a whole new threat, he said.
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.
| Photo Credit:
AFP
“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.