With the lockdown being extended till May 31, the Reserve Bank of India has extended the moratorium of installments of term loans by another three months till August 31, 2020. As a result of this moratorium, individuals' EMI repayments of loans taken were not deducted from their bank accounts, providing much-needed liquidity. It is being speculated that with the extension of the lockdown till May 31, the moratorium will be extended for a period of another three months. The key interest rate was slashed by 40 basis points to four percent, making it the lowest level since 2000.
The RBI governor said the inflation outlook is highly uncertain due to the outbreak of the COVID-19 pandemic and expressed concern over elevated prices of pulses.
"These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth", Das also said.
This, the Governor attributed to current global demand-supply balance, low worldwide crude oil prices, soft global prices of metals and other industrial raw materials, which are likely to keep input costs low for domestic firms, deficient demand and volatility in financial markets.
RBI Governor says India seeing a collapse of demand; electricity, dip in petroleum product consumption; fall in private consumption.
The GDP growth in 2020-21 will remain in the negative, he said.
Shaktikanta Das echoed the views of several global research reports that estimated a negative growth in India's GDP.
"It has been chose to relax rules governing withdrawal from Consolidated Sinking Fund (CSF) while at the same time, ensuring depletion of the fund balance is done prudently". These relaxations to states will release an additional amount of about Rs 13,300 crore. Further, bank exposure to corporates has been raised to 30 per cent of the group's net worth from the current limit of 25 per cent, a move that will allow lenders to give larger loans to companies.
"Going forward, we will continue to be vigilant and we will take whatever measures are necessary to meet the Covid-related challenges which are ahead of us", Das said.
Anuj Puri, Chairman - ANAROCK Property Consultants, said, the RBI's repo rate cut is a welcome move.
The bank had cut the repo rate by 75 basis points in March as fears grew over the spread of the virus in the country of 1.3 billion people. If inflation trajectory evolves as expected, space will open up for more rate cuts.
Another open question is how durable and long-lasting the neutralizing-antibody response is from Moderna's vaccine, Raffat said. However, testing for these neutralising antibodies has only taken place on the first eight, out of 45, people on the trial.
On YouTube, Rogan has 8.42 million subscribers. "It will be the exact same show", he said of the podcast he launched in 2009. With Rogan, Spotify is showing its willingness to bring more podcast listeners to its platform through exclusive content.
The use of Zoom has skyrocketed since most of the western world was put on coronavirus lockdown in late February through March. Genasan was in jail, while Fernando and prosecutors participated in the hearing from different locations.
Put into context this is the same amount of carbon emitted by about 875,000 average petrol vehicle journeys in the UK. The team however said the reduced albedo is unlikely to impact Antarctica's climate on any meaningful scale.
The song, a collaboration with American rapper Future , was accidentally leaked on Wednesday night (May 20), Fox News reported. Apparently dismissing the chatter, Kylie's latest post read, "my days are made up of zoom meetings and playing dress up".
Reporters, diplomats and others who visited the venue, the Great Hall of the People, were required to undergo coronavirus tests. This year's annual session of the ceremonial National People's Congress is being held under intensive anti-disease controls.
Further, the poll suggests that Trump's handling of the coronavirus pandemic is damaging his prospects in the state. On both Biden's and Trump's sides, these independent groups have raised tens of millions of dollars on their own.
Countries with over 200,000 cases also included Russia, Britain, Brazil, Spain and Italy, according to the CSSE data. Worldwide, there are 4.8 million confirmed cases of COVID-19, and more than 300,000 deaths linked to the disease.
Huge queues formed outside branches of McDonald's as the fast food giant reopened some of its United Kingdom drive-thrus. However, McDonald's have said that strict new measures will be in place to help keep employees and customers safe.
25th Anniversary of Panchen Lama's Disappearance
With the current title holder, Tenzin Gyatso, now 84, there is a good chance that a successor will be needed as soon as possible. On Sunday, Tibet's parliament-in-exile called on Beijing to confirm the "well-being and whereabouts" of the Panchen Lama.
Covid 19 coronavirus: Maskless Trump tours Michigan Ford plant
The company said after the president's visit was announced that it had shared details of its safety policies with the White House. President Trump did not wear a mask in front of cameras during his visit because he "didn't want to give them the pleasure".
SpaceX is nine days away from its first manned launch
Hurley said, "it's been a long road"; he is looking forward to being one of the first humans to fly in the Crew Dragon capsule. The meeting was held virtually, with Pence in Washington, and NASA administrators and astronauts checking in remotely.
Denial of absentee ballots is a denial of democracy
Bayatpour noted on Twitter , "five states already have all-mail elections-Colorado, Hawaii, Oregon, Utah, and Washington". Breaking: Michigan sends absentee ballots to 7.7 million people ahead of Primaries and the General Election.
USGA scraps qualifying for US Open golf
The pandemic shut down golf on March 13, two months before the top 60 in the world ranking would have been exempt for the U.S. The USGA has also cancelled the US Mid-Amateur, Women's Mid-Amateur, Senior Amateur and Senior Women's Amateur tournaments.