12072020-TT-01.qxd 7/11/2020 11:07 PM Page 1 123 chandigarh | gurugram | jalandhar | bathinda | jammu | srinagar | vol.140 no.192 | 16 pages | ~5.00 | regd.no.chd/0006/2018-2020 established in 1881 haryana ENVOY HOLDS VIRTUAL MEET WITH TOP US SIKHS WORLD /thetribunechd TRUMP FOR MERIT-BASED IMMIGRATION BACK PAGE SO CLOSE, YET SO FAR: COVID-19 HAS RECALIBRATED PERSONAL TIES SPECTRUM /thetribunechd www.tribuneindia.com sunday, july 12,2020 Covid may lead to higher NPAs, 1L cases in 4 days; caution on Remdesivir Dharavi effort wins WHO praise capital erosion, warns RBI Guv Tribune News Service Banks need to proactively raise capital I NBFCs under watch, he says Sandeep Dikshit Tribune News Service New Delhi, July 11 The Reserve Bank of India on Saturday warned of certain stress points in the financial system, such as the redemption pressure on nonbanking financial companies (NBFCs) and mutual funds. The Covid crises may result in higher non-performing assets and capital erosion of banks though the Indian economy has started showing signs of getting back to normalcy, RBI chief Shaktikanta Das said at a stocktaking of the Indian economy at the SBI Banking and Economics Conclave. He said in order to protect the interest of mutual fund investors, the RBI had asked private NBFCs to appoint independent chief risk officers, while government-owned NBFCs were now under the RBI surveillance framework. Besides, the central bank was closely monitoring some large NBFCs and those with certain weaknesses. Das said a recapitalisation plan for public sector banks (PSBs) and private banks (PVBs) had, therefore, become necessary which might have to be larger than normal because the mini- ORDERLY UNWINDING CRUCIAL: DAS ❝ Post containment of Covid-19, a very careful trajectory has to be followed in orderly unwinding of counter-cyclical regulatory measures. Shaktikanta Das, RBI CHIEF ECONOMIC OUTLOOK UNCERTAIN ■ Medium-term outlook for economy uncertain with supply chains & demand yet to be fully restored. ■ Protracted lockdown, which began on March 25, has resulted in severe disruption of industrial production ■ GDP growth forecast to contract sharply in April-June, pushing growth for 2020-21 into deep recession FIGURING IT OUT ~3.08L cr 0.5% 0.8% infused in PSBs in capital adequacy decline in gross NPA past 5 years ratio in past one year ratio in this period mum capital requirements of banks might no longer be considered sufficient enough to absorb the losses. Of the two PVBs that had gone down, the Yes Bank case was resolved quickly but the Punjab and Maharashtra Co-operative Bank issue was pending even after 10 months because its losses had eroded deposits by over ED set to file money-laundering case against Dubey family, aides Tribune News Service New Delhi, July 11 The Enforcement Directorate (ED) today said it had sought details of properties of killed gangster Vikas Dubey, his relatives and associates from the UP Police. The agency is set to file a moneylaundering case and probe his alleged illegal financial transactions and assets. Sources in the ED said the agency’s zonal office in Lucknow had written to the Kanpur police in this context, seeking copies of all FIRs and chargesheets filed against him and those linked to him. “Some FIRs have been shared, while some more information is being obtained by the agency,” said a senior official. “The dreaded criminal is believed to have invested in property in the UAE and Thailand. He travelled to at least 14 countries over the past three years and might have invested his unaccounted money elsewhere,” the official said. Dubey is also believed to have a AIDE ARRESTED NEAR MUMBAI ■ The anti-terrorism squad of the Maharashtra Police arrested two men, including an aide of slain gangster Vikas Dubey, in Thane on Saturday. ■ Arvind, alias Guddan Ramvilas Trivedi (46), an aide of Dubey, was allegedly involved in the recent killing of eight policemen in Kanpur. ■ Trivedi and his driver Sushil Kumar, alias Sonu Tiwari (30), were arrested from Kolshet area of Thane city. — PTI 61 FIRs, 8 FOR MURDERS ■ Vikas Dubey faced 61 cases, including eight FIRs for murdering at least 15 persons. ■ He faced nine cases of ‘bid to murder’, two under NDPS Act, seven under Gangsters Act, six under Goonda Act and three under Arms Act. — PTI UP Government forms SIT to probe cops’ connivance with gangster; report by July 31 dozen “benami” flats in different parts of UP in the names of his family members and associates. Sources said the ED would soon register a criminal complaint under the Prevention of Money Laundering Act (PMLA) to probe proceeds of crime that were allegedly generated by Dubey, his associates and family members and if the money was subsequently used for creation of illegal movable and immovable assets. The PMLA enables the agency to continue criminal probe against accomplices of Dubey in laundering proceeds of crime and the properties acquired thereof. Section 72 of the Act provides for “continuation of proceedings in the event of death or insolvency”, sources added. Drawing attention to death trap 50 per cent, the RB chief said, emphasising that banks must be proactive in building buffers and raising capital. The RBI chief took heart from the smooth functioning of the financial system but drew attention to three uncertainties — it was uncertain when supply chains would be fully restored, how long would it take for demand conditions to normalise and what durable effects the pandemic would leave behind on potential growth. “The need of the hour is to restore confidence, preserve financial stability, revive growth and recover stronger, even as the country follows a careful trajectory to unwind the counter-cyclical regulatory measures,” he said. He pointed out that the LAC tensions would naturally spur a move to replace Chinese products in the global supply chains. “But to be successful, quality and price have to be the determining factors.” The central bank, he said, strived to maintain the balance between preserving financial stability, maintaining banking system soundness and sustaining economic activity. Plea in SC for SIT probe into killing of gangster Tribune News Service New Delhi, July 11 The People’s Union for Civil Liberties (PUCL) today moved the Supreme Court seeking a special investigation team (SIT)-monitored probe into the killing of Dubey and his associates. It filed an application in a petition already filed by it in 2018 that questioned police encounters in Uttar Pradesh between January 2017 and March 2018. Now it wants encounter killing of Dubey and his associates Amar Dubey and Prabhat Mishra probed as well. This is the second plea filed in the apex court on this issue. Hours before Vikas Dubey was killed in an encounter near Kanpur on Friday morning, advocate Ghanshyam Upadhyay filed a PIL in the Supreme Court seeking a direction to UP Government to ensure the gangster’s safety as he apprehended cops might kill him. He had sought urgent listing of the matter. Both matters are likely to be taken up on Monday. New Delhi, July 11 As India’s Covid-19 caseload crossed 8 lakh on Saturday, adding one lakh cases in four days, the government sounded caution on the use of Remdesivir injectable formulation permitted for restricted use in case of patients on oxygen support. The ICMR today told states that Remdesivir has to be used with extreme caution due to its potential to have serious adverse effects, including liver and kidney injury. A similar warning was sounded for Tocilizumab, which is also permitted for use on Covid patients with poor oxygen indicators. “These drugs are permitted only for restricted emergency use. Their indiscriminate use COVID-19CASES INDIA RECOVERED 5,15,385 FRESH FATALITIES 519 TOTAL DEATHS 22,123 COUNT 8,20,916 TOTAL RECOVERED DEATHS WORLD 1,27,07,013 74,14,749 5,64,493 or use in conditions for which they are not desirable may cause more harm than good,” the ICMR said. Available evidence for Remdesivir suggests it may decrease the time needed for clinical improvement in moderate to severe cases, but does not reduce mortality. The ICMR caution came as India saw another record daily increase of 27,114 cases that took Covid-19 count to 8,20,916 with 22,123 deaths. There were 519 mortalities in 24 hours. With rising cases, the focus has shifted to patient management. The ICMR said the focus of clinical management should continue to remain on oxygen therapy (including high flow nasal oxygen), steroids (widely available and inexpensive) and timely administration of anti-coagulants and high quality supportive care. THE DAMAGED NH-148B; AND (L) A HOARDING PUT UP BY LOCALS. ■ With 20 lives lost in 10 months, locals have put up ‘fatal road’ hoardings to draw attention of authorities. RAVINDER SAINI New Delhi, July 11 India’s tiger census of 2018 has entered the Guinness Book of World Records for being the largest ever cameratrap wildlife survey conducted anywhere in the world. According to the survey, the country was home to an estimated 2,967 tigers, nearly 75 per cent of the global population. Of all the big cats, 2,461 (around 83 per cent) have been photo-captured. Terming it a great moment for the country, Environment Minister Geneva, July 11 The World Health Organisation (WHO) has praised the efforts made to contain the spread of Covid-19 in Dharavi, one of the world’s largest slums, underscoring the need for community engagement to turn the pandemic around. At a virtual press conference on Friday, WHO Director-General Tedros Adhanom Ghebreyesus said there were many examples from around the world that had shown that even if the outbreak was very intense, it could still be brought under control. “Some of these examples are Italy, Spain and South Korea, and even Dharavi—a densely packed area in the megacity of Mumbai,” he said. — PTI Indian Army has defensive positions ‘tailored’ to hold back China’s PLA Ajay Banerjee Tribune News Service New Delhi, July 11 Even as India and China talk of de-escalation along the Line of Actual Control (LAC), the Indian Army has its eyes trained at defending the 13 identified possible routes of military ingress into Ladakh from the Chinese side. These routes are natural gaps in the mountains along the 826-km LAC in Ladakh. Starting from east of the Karakoram pass, the northern-most point, and ending at Demchok, the southern-most edge of Ladakh, these gaps permit major land-based warwaging equipment and troops to pass through. Some Cops detain Tibetans-in-exile during an anti-China protest in New Delhi. PTI IT’S WORK IN PROGRESS: JAISHANKAR External Affairs Minister S Jaishankar said the disengagement and de-escalation process was “very much a work in progress”. This came a day after the two sides during diplomatic talks resolved to push for “complete disengagement” of troops. PTI Two militants killed, infiltration bid foiled Tribune News Service Srinagar, July 11 Two militants were killed close to the Line of Control (LoC) as an infiltration bid was foiled in north Kashmir’s Nowgam sector of Kupwara district early today, the Army said. A senior Army officer, based in north Kashmir, said 250 to 300 militants were present at launch pads across the LoC. General Officer Commanding of Baramulla-based 19 Infantry Division Maj Gen Virendra Vats said the soldiers guarding the LoC in Nowgam noticed suspicious movement from Pakistan posts in the area. “Appropriate response by troops was taken to eliminate TRACKING THE FELINE ■ 26,760 locations across 139 sites where paired camera traps were placed ■ 35 million photos generated — 76,523 of tigers and 51,337 of leopards ■ 381,200 sq km forest area studied during the survey eight of these 13 routes are open even during the winter as these areas get little snowfall, a senior functionary said. Large parts of Ladakh are a flat plateau at more than 12,000 feet, but the mountainous parts are rugged, treeless and inhospitable. The possible ingress routes (gaps in the mountains) are all across, but in a bigger concentration in the Depsang plains — the route that was used during the 1962 war. Another set of gaps is in Hot Springs area. The route running south from Dungti to Demchok has another set of gaps. In the eastern part of Ladakh abutting Tibet, India has a continued on back page 250-300 militants at launch pads across LoC, says Army TERRORISTS ON THE RUN: UNION MINISTER New Delhi: Union Minister Jitendra Singh on Saturday said that terrorists in Kashmir were on the run. He said the “hot chase” by security forces had put them under tremendous pressure. PTI the two terrorists who were trying to infiltrate into our area by cutting the fencing. The heavily armed terrorists, dressed in combat fatigues, continued on back page Amend Gurdwara BJP trying to topple R’sthan Govt: CM Act: J&K Sikhs Jammu, July 11 Sikh groups today urged LtGovernor Girish Chandra Murmu to amend the Gurdwara Act on the pattern of the Delhi Sikh Gurdwara Act. They also appealed to the government to constitute ad hoc committees for the smooth functioning of gurdwara affairs. “The tenure of the District Gurdwara Parbandhak Committiees (DGPCs) and the Gurdwara Parbandhak Board has expired.The DGPC, Jammu, is facing serious allegations regarding misappropriation of funds, mismanagement and arbitrary decisions,” Harjinder Singh Raina, a former secretary of the DGPC, Jammu, told the media. He appealed to the Lt-Governor to induct a Sikh in the Public Service Commission. — TNS India’s largest tiger census sets Guinness record Tribune News Service from Kuksi to Mandola in Mahendragarh is in a shambles, leading to mishaps. Itolizumab, injectable drug used to treat severe chronic plaque psoriasis, a skin condition, was on Saturday permitted by the Drug Controller General of India for “restricted emergency use” in moderate and severe Covid-19 cases 13 gaps in mountains along LAC hold key Vibha Sharma ■ A 42-km stretch of NH-148B ITOLIZUMAB USE PERMITTED ONE-THIRD RISE 2014 2018 2,226 2,927 WHAT WORKED Better corridors between isolated pockets of tiger territory, reduced poaching, building up prey nos 75% OF WORLD TIGER POPULATION NOW IN INDIA Prakash Javadekar credited Prime Minister Narendra Modi for India fulfilling its resolve to double the tiger numbers four years before the 2022 target set at St Petersburg in 2010. “It is a shining example of ‘atmanirbhar’ (self-reliant) Bharat attained through ‘sankalp se siddhi’ (attainment through resolve),” Javadekar said. The citation at the Guinness World Records website reads: “The survey, conducted in 2018-19, was the most comprehensive to date in continued on back page JAIPUR: Rajasthan Chief Minister Ashok Gehlot has accused the BJP of trying to topple his government by offering his legislators money. He said his administration is stable. However, BJP state president Satish Poonia said the political situation was the result of infighting in the Congress. BACK PAGE No change in UGC exam schedule NEW DELHI: Despite some states cancelling the university exams amid the Covid scare, HRD Minister Ramesh Pokhriyal has said the UGC's exam deadline of September stands and the government is committed to students’ safety and their academic credibility in the world of competition. BACK PAGE Hardik is Gujarat Cong working chief NEW DELHI: Hardik Patel (26) was on Saturday appointed working president of the Gujarat Congress, currently headed by Amit Chavda. Patel is the founder of the Patidar Anamat Andolan Samiti in the state and has been seeking reservation for Patidars. TNS Air India withdraws 180 cabin crew posts NEW DELHI: Air India has withdrawn job offer for around 180 trainee cabin crew members amid the economic slowdown in the aviation sector due to Covid, officials said on Saturday. A spokesperson refused to comment, saying the issue was internal to the firm. PTI
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