MSMEs were the most impacted by the Covid first wave. What is the situation now with the second wave being far more fierce?
It is going to impact in two ways; collection is going to be impacted because there are lockdowns in various cities and there is a growing fear among the people and social distancing rules are being followed a little more strictly than before.
I feel that collection will get impacted, delinquency might rise in MSME unsecured mode and the secured portfolio will still be on the lower side but now it is spread across all the smaller towns and there is a pressure on hospitalisation. Amid the growing fear, lending companies and NBFCs will be more careful in growing their retail book till this stabilises in the next one or two months. We do not know how long it will go. It is going to impact the growth and the collection efficiency. Hence there will be a slight increase in the delinquencies in Q1 depending on how long it will go on.
Nashik: At Least 22 COVID-19 Patients Die As Oxygen Tanker At Hospital Leaks
All the deceased patients were on ventilators at the Zakir Hussain hospital and their oxygen supply was disrupted by the leak.
Visuals from the Zakir Hussain Hospital in Nashik, where leaking oxygen from a tanker resulted in the death of at least 22 people. Photo: Screengrab/Mirror Now
Rights10 hours ago
Mumbai: At least 22 patients who were on ventilators at a hospital in Nashik died when oxygen supply to them was disrupted by a leak in a tanker outside the hospital.
Maharashtra health minister Rajesh Tope said the incident would be probed.
Uttarakhand HC Asks State Govt To Issue Guidelines For Chardham Yatra
The court observed that the pilgrimage cannot be allowed to turn into another Kumbh.
Devotees gather to offer prayers during the third Shahi Snan of the Kumbh Mela 2021, at Har ki Pauri Ghat in Haridwar, Wednesday, April 14, 2021. Photo: PTI
Religion5 hours ago
Nainital: The Uttarakhand high court has asked the state government to publish the standard operating procedures (SOPs) for the forthcoming Chardham yatra in view of the rising COVID-19 cases, observing that the pilgrimage cannot be allowed to turn into another Kumbh.
Chief Justice R.S. Chauhan and Justice Alok Kumar Verma of the high court made the observation during the virtual hearing of a batch of PILs related to the state government’s handling of the pandemic on Tuesday.
April 21, 2021
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The second downward revision within a month comes in the wake of surge in Covid cases and subsequent curfews and lockdowns in States CARE Ratings has cut GDP growth forecast for FY22 from 10.7-10.9 per cent to 10.2 per cent in the backdrop of the second wave of Covid-19 pandemic, with various States imposing restrictions ranging from night curfews to weekend lockdowns to full lockdowns.
This is the second time within a month that the credit rating agency has revised GDP growth forecast downwards. On April 5, it lowered the forecast from 11.0-11.2 per cent to 10.7-10.9 per cent.
The agency estimated the potential loss of Gross Value Added (GVA or output) at ₹1.13 lakh crore.
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Delhi Police personnel checking commuters for curfew passes after a night curfew was imposed due to rising Covid-19 cases on April 11, 2021 in New Delhi, India.
Synopsis
People are more irresponsible about social distancing and personal hygiene this time around. Then there are myths that may accelerate transmission. While it is difficult to ascertain the real impact of the second Covid-19 wave as it is still unfolding, discretionary spend will contract and frontline optical valuations will remain distorted. Formalisation and digitisation of the economy can offer the much-needed silver lining.
Call it yet another battle for survival. Even as lockdowns have been imposed in Maharashtra, and major cities of Madhya Pradesh, many states have declared night curfew to curb the spread of the second wave of Covid-19.With a rapid surge in new cases, it is expected that the second wave will turn out to be uglier than imagined and there could be a possible long-lasting impact on