OPINION, P6 COMPANIES, P4 INTERNATIONAL, P8 EDITORIAL NARENDRAN-SPEAK FACING THE HEAT Vaccines to lead Covid Comprehensive digital ‘Steel demand to grow Samsung heir faces education strategya fight,but focus on must, govt needs to at rate of GDP growth nine years in jail as therapeutics R&D too partner ed-tech firms or higher in FY22’ bribery trial wraps

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VOL. XI NO. 286, 24 PAGES, `6.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD

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IN THE NEWS PUNJAB STIR COVID COMBAT POWER PACT Damage to infra: RJio writes to Farmers win in Astra gets UK nod, EU, China seal Punjab CM WITH ITS telecom two of four issues investment deal infrastructure in the state being damaged during awaits India approval PHILIP BLENKINSOP farmers' protest, Reliance No stiff penalties for Brussels, December 30 What's in the deal Jio has written to Punjab stubble burning; no Serum expects ■European ■Requirements chief minister Amarinder change in electricity To be prioritised for The BorisJohnson THE EUROPEAN UNION and firmswill gain that companies Singh seeking his most vulnerable UK government has approval in the ChinaagreedonWednesdayto permission operate as part of intervention for action subsidies; will discuss already bought an investment deal that will to operate jointventures 100 million doses of against those responsible MSP & repeal of laws groups,with shots next few days give European companies in China in with Chinese for the incidents of Govt accedes to two of the theAstraZeneca- greateraccesstoChinesemar- sectors, partnerswill starting Monday Oxfordvaccine "sabotage and vandalism", four demands of farmers: FE BUREAU kets and help redress what including be lifted electric cars, reports PTI. FE BUREAU To keep farmers outside the am- It’s the Thevac- Pune, December 30 Europe sees as unbalanced ■Chinawill ban private New Delhi, December 30 bit of air pollution Ordinance, SUZI RING second cine can economic ties. the forced transfer hospitals, ‘Pvt banks taking meaning no stiff penalties for stu- December 30 corona shot to be deployed CYRUS POONAWALLA, THE The agreement has been oftechnology real estate, THE CHANCES OF a solution bble burning; to continue current be cleared for swiftly because chairmanofSerumInstituteof nearlysevenyears in the mak- from foreign advertising away share from to the prolonged agitation electricity subsidy system for ASTRAZENECAAND the Uni- emergency use it’s easier to India (SII),said on Wednesday ing and is likelyto take at least companies PSBs in rural credit’ by farmers at the border of irrigation,where farmers pay versity of Oxford’s Covid-19 in the UK after transport and 17 million doses of the Covid- another year to enter into the national capital and at highly subsidised rates vaccine won UK clearance, the Pfizer- store than the 19 vaccine were ready to be force. It forms part of a new RURALCREDITgrowth elsewhere appeared bright for marking the first approval BioNTech one Pfizer one shipped out and that the com- relationshipwithChina,which gathered steam in FY20 and the first time on Wednesday, Demands for repeal worldwide for a shot that’s panywasawaitingthegovern- the EU views as both a partner of the three surpassed growth in other withthegovernmentacceding facedquestionsbutwillbekey earlyDecember. ment’s approval. Poonawalla and a systemic rival. contentious laws and categories after a gap of four to two of the four demands legal guarantee for MSPwill be to mass immunisations. The move will help the saidapurchaseagreementwas European firms will gain years, reports in fe Bureau raised byfarmers. discussed in the next round The vaccine will be priori- UK ramp up vaccinations as yet to be signed and that an permissiontooperateinChina Mumbai. Private banks have The government also of talks on January 4 tised for the country’s most a new surge in infections approval was expected in the in sectors including electric begun to gain share in this agreedtodiscusstheothertwo vulnerable groups,with shots strains hospitals. It has next couple of days.SII has an cars, private hospitals, real partnerswill be lifted. segment even as PSBs’ foot- (more important) demands — starting Monday,according to reported record numbers of agreementwithAstraZenecato estate, advertising, the mar- Companies that could print reduces, RBI said in its repeal of the laws and legally an expert committee be the government. cases this week,with a new manufacture and supply the itime industry, telecom cloud benefitincludeDaimler,BMW, trend and progress report. guaranteedminimumsupport formed toweigh the ramifica- It’s the second coronavirus variant of the pathogen rais- Covid-19 vaccine in India and services, airline reservation Peugeot,Allianz and Siemens, prices (MSPs) — at the next tions of a legally mandated injection to be cleared for ing concern globally. lowincomecountries. systemsandgroundhandling. all with a large presence Subscribers can round of talks on January4. MSPsystem. emergency use in the UK Some requirements that in China. The government also is after Pfizer and BioNTech’s in Continued on Page 2 Continued on Page 2 companies operate as part of now exit NPS via learnt to have suggested that Continued on Page 2 joint ventures with Chinese Continued on Page 2 online mode India-UK flights to remain suspended till January 7 PFRDAON Wednesday said In the next round of talks, the Welcome the spirit of Power demand hits all-time high subscribers can now use the remaining issues will be today’s talks, hopeful of PASSENGER FLIGHTS between the UK and country and India from December 23 to online mode also to exit from discussed and I hope there a positive outcome in India would remain suspended till January 7 December 31 as a mutated variant of the PEAK POWER demand of growth in energy demand the National Pension System will be an agreement the next round of and theywill resume in a“strictly regulated” coronaviruswas detected there. the country touched the during the pandemic and (NPS), reports PTI. Under the between government discussions. mannerthereafter,aviationministerHardeep Puri’sannouncementhascomefollowing 1,82,888-mega watt (MW) signalling a spurt in com- current process, the subscri- Singh Puri said onWednesday,reports PTI. arecommendationbytheUnionhealthmin- mark on Wednesday — an mercialandindustrialactiv- and farmer unions. —RAKESH TIKAIT bers have to physically app- The civil aviation ministry had last week istry to extend the suspension of India-UK all-time high — marking the ities, reports fe Bureau in —NARENDRA SINGH TOMAR spokeman, Bharatiya roach points of presence to Kisan Union suspended all flights between the European flights till January7. reversal of the trend of tepid NewDelhi.■ Page 2 complete the exit process. agriculture minister

● Special Feature RBI LIQUIDITY RELIEF Deadlines Keeping us sane: Best gadgets Top-rated firms of the pandemic year for filing Gadgets became get 88% of funds GST,I-T the way to connect with the FE BUREAU India forFY20. world, work and Mumbai, December 30 The TLTROs were aimed at returns stay relevant in a providingsystem-levelliquid- year that saw HIGHLY-RATED FIRMS ityaswell as targeted liquidity extended Covid-19 upset all accountedforamajorityofthe to sectors and entities experi- norms of human funds disbursed to non-bank- encing liquidity constraints FE BUREAU behaviour. Check ing financial companies and restricted market access. New Delhi, December 30 out the (NBFCs) under the central However, the data put out by smartphones, bank’s targeted long-term the central bank suggests that THE GOVERNMENT ON laptops, et al that repooperations(TLTRO).Arat- stronger companies may have Wednesday extended the due emerged winners ing-wise analysis shows that benefitedthemostfromthese dates forvarious tax filings, ■ Gadgets, P9 firms with ‘AAA’ and ‘AA’ rat- operations. includingformakingdeclara- ings accessed 88% of dis- A study of the distribution tion under the direct tax dis- bursements made under the of TLTRO funds reveals that puteresolutionschemeVivad targeted liquidity operations, `76,843 crore was requested Se Vishwas, in view of QuickPicks theReserveBankofIndia(RBI) byNBFCsandhousingfinance the difficulties faced by tax- said in its report on the trend companies (HFCs), four-fifths SHOT IN THE ARM payers due to the Covid-19 and progress of banking in of which has been disbursed. US vice-president-elect Kamala Harris receives a dose of the Moderna Covid-19 pandemic. Cabinet nod: Sops for grain-based NBFCs garnered 60% of the vaccine at United Medical Center in Washington, US Ontheindirecttaxcompli- 1.8BBB Unrated 0.3 total disbursement. ance, the government has ethanol,approval for infra projects “Non-deposit taking extended the date for filing THE CABINET committee on economic affairs A NBFCs, particularly NBFCs- annual returns under GST for (CCEA) on Wednesday cleared an additional 9.9 ND-SI(systemicallyimportant FE BUREAU financialyear2019-20toFeb- interest subsidy of `4,573 crore for setting up non deposit-taking NBFCs), External trade ruary 28 from the previous distilleries that will be free to use for not just AA havebeenmajorbeneficiaries,” deadline of December31. cane but also grains like rice, wheat and corn to produce 17.7 AAA the central bank said. GDP slump keeps current account in surplus Forsalaried employees,the the ethanol, marking an important shift in its usual cane- (%) Within NBFCs-ND-SI, deadline for filing income tax centric bio-fuel policy, reports fe Bureau in New Delhi. It 70.3 investmentandcreditcompa- India’s current account Net accretion/depletion of forex reserves, $ billion (LHS) returns for the current assess- also approved `7,725 crore for creating trunk infrastructure nies (NBFCs-ICC) and infra- remained in surplus for Current account balance, % of GDP (RHS) ment year (AY 2020-21) has in two industrial areas and for setting up logistic and structure finance companies the third month in a row beenpushedby10daystoJan- 36 31.6 6 transport hubs. Of the `7,725 crore, as much as `3,884 (IFCs) cornered 88% of the in the second quarter uary 10. This had been 3.8 crore will be spent on setting up a multi-modal logistics hub funds.“Furthermore,a rating- as goods imports extended twice previously Rating-wise share of NBFCs 24 21.6 4 and a multi modal transport hub in Greater Noida. PAGE 2 wise analysis shows that these contracted sharper than 18.8 from the original deadline in total disbursement 14.2 14 firmswerealsowell-rated,with exports, reflecting the 12 2 of July31. ‘AAA’ and ‘AA’ rated firms economic slump. 5.1 2.4 Similarly, for direct tax

-11.3 -1.9 -4 19.8 $1.4-bn fundraising: Vedanta accessing 88% of disburse- Current account surplus 0 0 assessees who are required to 0.1 ments,”the report added. of $15.5 billion, plus a -0.4 get their personal and com- says no pledge on shares NBFCs-ND-SI, which similar balance in the -12 -0.7 -0.9 -2 pany’s account audited, the VEDANTALTD'S promoters cannot sell or create accessed TLTRO funding, capital account, led -2.3 -2.1 deadline has now been -2.9 -2.7 any security on shares they hold in the group as constitute 57.4% of the to accretion of a robust -24 -4 extended to February 15 from part of the terms attached to the recent NBFC universe. $32 billion to reserves Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 January31 earlier. — Source: Staff calculations based on $1.4 billion fund-raising conditions which supervisory data and Prime Database in Q2. FY19 FY20 FY21 technically fall within the definition of'encumbrance' but no Continued on Page 2 Continued on Page 2 pledge on shares has been created, the company said on Wednesday, reports PTI. Vedanta had on Tuesday informed the stock exchanges about its promoters raising $1-billion debt by issuing equivalent notes to Citicorp International BUMPER RUN Ltd and another $400 million in notes to an entity under Oaktree Capital Group. PAGE 4 Bitcoin hits new high, set for biggest monthly gain since 2019 `4,837-crbank fraud: CBI books ERIC LAM monthlygainsinceMay2019. Bitcoin Santa rally Bitcoin’svalidityasanassetclass Exchange Commission this December 30 Bitcoin has almost quadru- Largest crypto on track for strongest month since May 2019 givenitsspeculativenatureand monthaccusedRippleLabsand Hyd-based firm IVRCL,its MD pled invalue thisyearamid the (%) boom-and-bustcycles. itstopexecutivesofmisleading THE CBI on Wednesday carried out searches on BITCOIN, THE WORLD’S global coronavirus pandemic, 60 XBT-USD cross rate - price change “While a growing institu- investorsinaffiliatedtokenXRP. the premises of infrastructure firm IVRCL, its largest cryptocurrency, is on while the wider Bloomberg 1 day percent tionalpresencehasbeenpartof WhileRippleplanstochallenge managing director E Sudhir Reddy and joint track to close out a banneryear Galaxy Crypto Index tracking 40 thenarrativeofthecurrentbull theaccusationinthecourts,the managing director R Balarami Reddy who have with another bang.The digital the largest digital currencies is run,wemayseeincreasedretail development underscores the been booked by the agency for an alleged fraud worth over asset surged above $28,000 on up about 270% as rival coins 20 interest in Bitcoin as a form of prospectofstricteroversightof `4,800 crore against a consortium of banks, officials said, Wednesday to a record high, suchasEtherhavealsorallied. 0 digital gold,” Paolo Ardoino, digital assets. XRP has plum- reports PTI. The agency has booked the Hyderabad-based adding to its 47% rallyso farin The latest price surge con- chief technology officer of meted almost 70% this month company and its directors on a complaint from State Bank December, according to data tinues to divide opinion -20 crypto exchange Bitfinex said and faces furtherpressurewith of India, CBI spokesperson RC Joshi said. The CBI has compiledbyBloomberg.Bitcoin between those who view cryp- inanemail. Coinbasethelatestexchangeto alleged that the company had availed credit facilities from rose as much as 6.2% to tocurrencies as a hedge against June Sept Dec Mar June Sept Dec Regulatory concerns also announce plans to suspend consortium members and cheated them by not repaying 2019 2020 $28,572.10inAsiatradingand dollar weakness and inflation Source: Bloomberg remainawiderfactorforcrypto tradinginthetoken. the loan amount. is on track for its biggest risk, and others who question investors. The Securities and —BLOOMBERG

Pune 2 FINANCIAL EXPRESS WWW.FINANCIALEXPRESS.COM

DIGITALINDIA

Ravi Shankar Prasad, telecom and IT minister

Digital India is a transformative programme, ❝launched in 2015...five-and-a-half years down the❝ line, the pandemic was a big opportunity to test the efficacy of Digital India. EconomyTHURSDAY, DECEMBER 31, 2020

Quick ● CABINET DECISIONS Current account surplus at 2.4% of Sops for grain-based ethanol, GDPin Q2,$32 bn added to reserves View FE BUREAU New Delhi, December 30 Over 4.54 crore nod to clutch of infra projects INDIA PRODUCED CUR- ITRs filed for RENT account surplus forthe FE BUREAU han said. “This decision will distilleriesandforunitsthatwill third straight quarter in FY20 till Dec 29 New Delhi, December 30 KEYDECISIONS fuel investment of about produce ethanol from other Q2FY21, but the surplus WITHJUSTTWOdaysleft `40,120 crore in the ethanol feedstocks such as sugar beet, moderated to $15.5 billion or forthedeadlinefor THE CABINETCOMMITTEE `3,884 cr value chain,boost local indus- sweetsorghumandcereals. 2.4% of the gross domestic individualstofileincome on economic affairs (CCEA) on approved for a tries,generatejobs,givefillipto Currently, India has a product (GDP) in the quarter logistics hub taxreturns(ITRs)toend,the Wednesday cleared additional the economy and encourage molasses-based ethanol pro- from $19.2 billion (3.8%) in Govt to provide and a transport ITdepartmenton interest subsidy of `4,573 extra interest hub in Greater ‘urja-kheti, which will trans- duction capacity of 426 crore Q1, according to data Wednesdaysaidmorethan crore for establishing ethanol subsidy of Noida formour‘annadatas’into‘urja- litres.This capacity is used for released by the Reserve Bank 4.54croretaxreturnsfor units that will use cereals, `4,573 cr datas’,”Pradhan said. supply to both the liquor of India. 2019-20fiscalhavebeen insteadoftheusualpracticeof to set up `3,841 cr Thegovernmentwouldoffer industry as well as for the The surpluses have been filedtillDecember29.In using just cane,to produce the ethanol units cleared for two theinterestsubventionof6%or blending ordoping in petrol. enabled bya narrowing of the thecomparableperiodlast bio-fuel. It approved `7,725 industrial areas halftheinterestratechargedby During 2019-20 ethanol country’s usually very large year,4.77croreincometax crore for creating trunk infra- inAndhra and the banks,whichever is lower. supplyyear(December2019to merchandise trade deficit. returnswerefiled.Atthe structure in two industrial Karnataka Thesubsidywillbeforfiveyears, November 2020), 173 crore This is primarily due to a robust $31.6 billion to the billion last month,as a Covid- closeofdeadlineforfiling areas and for setting up logis- Ethanol can includingone-yearmoratorium litrewas procured forblending steeper decline in imports country’s forex reserves in induced contraction in ITRswithoutpaymentof tic and transport hubs. `3,005 cr against the loan availed bypro- withpetrol.Forthecurrentyear, relative to exports, which Q2,comparedwith $19.8 bil- imports narrowed. now be approved for latefeesforfiscal2018-19 Ofthe`7,725crore,asmuch produced deepening jectproponents. thecontractedquantityislikely reflects a demand slump in lion in the previous quarter. Trade deficit touched (assessmentyear(AY)2019- as`3,884crorewillbespenton from cereals, inner harbour Expanding the scope of an to touch 325 crore litres.This the economy. Net purchases byportfolio $18.6 billion in October- 20),over5.65crorereturns setting up a multi-modal logis- apart from facilities at existing scheme, the CCEA will raise the blending level to Pertinently, the capital (FPI) investors in the Indian November. werefiledbytaxpayers. tics hub and a multi modal cane and beet Paradip port decidedtoincludegrain-based 8.5%,against 5% in 2019-20. account — which is usually in equity market continued to Net services receipts transporthubinGreaterNoida. distilleries to encourage It marks a huge improvement considerable surplus but saw be strong through December increased both sequentially Exports may Similarly,trunk infrastructure ethanolproductionfromcere- from the blending levls of just onlya relativelysmall surplus quarteraswell (net inflows of and on ayear-on-yearbasis in reach $290 bn by will becreated in the Krishnap- basis under a public-private als, such as rice,wheat, barley 1.5%in2013-14. of $1 billion in Q1— reported $19.7 billion through Q2, primarily on the back of atnamindustrialareainAndhra partnership(PPP)modetohan- and corn, instead of just cane The government is nowtar- a robust surplus of $15.4 bil- December 20),bolstering the higher net earnings from fiscal-end: FIEO Pradeshwith an estimated cost dlecapesizevesselsattheport. and sugarbeet. geting to more than double the lion in Q2. capital account. computer services. THECOUNTRY'SEXPORTS of`2,139crore;another`1,702 The decision to offer addi- “Interestsubventionwould blending of ethanol in petrol to Strong net FDI inflows of The narrowing of the cur- Private transfer receipts, mayreach$290billionby crore is earmarked for tional interest subsidy to set be available to only those dis- 20%by2030.Forthis,domestic $25.6 billion boosted the cap- rent account surplus in Q2 mainly representing remit- theendofthisfiscalasthe Tumakuru Industrial Area in up ethanol distilleries comes tilleriesthatwillsupplyatleast production capacity has to be ital account in Q2 (net FDI was mainly on account of a tances by Indians employed outboundshipmentswere Karnataka. Taken together, at a time when the govenr- 75% of ethanol produced augmented.Thevolumewillrise was minus $0.8 billion in Q1), rise in the merchandise trade overseas,declined on a y-o-y hithardbytheCovid-19 these investments are esti- ment is planning to boost the from the added distillation to 1,000 litres in 2030 when while portfolio flows also deficit to $14.8 billion from basis but improved sequen- pandemicduringthefirst matedtogenerate2.8lakhjobs. blending of the bio-fuel with capacitytooilmarketingcom- one-fifthofpetrolistargetedto improved sequentially (net $10.8 billion in the preceding tiallyby12%t to $ 20.4 bil- halfoftheyear,FIEOsaid The CCEA also approved a petroltocutaglutinsugarand panies for blending with beethanol,Pradhansaid. inflows of $7 billion was quarter. lion in Q2. onWednesday.Federation projecttobolsterinnerharbour trim oil imports. petrol,"thegovernmentsaidin Forthis to happen,ethanol recorded in Q2 largelyreflect- However, after remaining Net outgo from the pri- ofIndianExports facilities at Paradip Port at a "Previously, `4,687 crore a statement. manufacturingcapacityhasto ing net purchases in the subdued in the first two quar- maryincomeaccount,primar- Organisations(FIEO) cost of `3,005 crore.The pro- interest subvention scheme The interest subvention be raised to 1,750 crore litres, equity market against just ters of this fiscal, merchan- ily reflecting net overseas presidentSharadKumar ject includes the development wasapprovedandnow`4,573 wouldbeavailableforsettingup which would require an $0.6 billion in Q1). dise trade deficit started ris- investmentincomepayments, Sarafalsosaidthat2021 of the western dock on build, crore has been sanctioned,"oil new as well as an expansion of investment of over `40,000 On a balance of payment ing again since October and increased to $9.3 billion from wouldbringarayofhope operate and transfer (BOT) minister Dharmendra Prad- existingmolassesorgrain-based crore,he added. basis,Q2 saw net accretion of hit a ten-month high of $9.9 $8.8 billion ayearago. andoptimismforthe exportingcommunity. KVIC disbursed Peak power demand touches Rlys saw smart recovery of freight from lockdown- `29.65 crto Khadi units in J&K induced slump,passenger segment hit harder THEKHADIANDVillage all-time high onWednesday NIVEDITAMUKHERJEE goods in August and 102.13 newwagonsare somenewini- IndustriesCommissionon FE BUREAU New Delhi, December 30 MTinSeptember.Themomen- tiatives. Besides, speed of Wednesdaysaidithas New Delhi, December 30 tum has continued and in freight trains has been nearly disbursed`29.65croreto FOR THE INDIAN Railways, December,IR reached 97% of doubled from 24 kmph one 84Khadiinstitutionsin PEAK POWER DEMAND of 2020willgodownasoneofthe last year’s cargo volume. year ago to 46 kmph, cutting Jammu&Kashmirbetween the countrytouched 1,82,888 most disruptive years in its Freight revenue also shows an down transit time. MayandSeptember, mega-watt (MW) mark on 167 years of operational his- uptick, from `9043.48 crore Facedwiththechallengeof benefitting10,800artisans. Wednesday—anall-timehigh tory. The nationwide lock- earned in August 2020 to moving millions of people "Thefinancialassistance — marking the reversal of the down in March 2020 to con- `10,657.68earnedinNovem- backhomeinthemostadverse hasbeengivenunder trendoftepidgrowthinenergy trol the spread of Covid-19 ber.Going by the trend, IR circumstances,IR started ModifiedMarketing demand during the pandemic pandemic forced the trans- expects to surpass last year’s Shramik SpecialTrains in May DevelopmentAssistance and signalling a spurt in com- porter to suspend passenger tally in revenue and loading, 2020, in coordination with (MMDA)schemeofKVIC mercial and industrial activi- services and realign its freight but the targets set for the cur- individual state governments, whichisdirectlylinkedwith ties. Wednesday’s peak services to cater to the bare rentyearmaynot be met. to carry millions of migrants theproductionactivities," demandbreachedtheprevious essentials, two steps that ried by IRwas still short of the In FY20, IR handled backhomeinruralIndia.Since anofficialstatementsaid. highof1,82,610MWrecorded thecountryismorethantwice as industrial and commercial inevitably gave a severe jolt to achievements in the corre- 1,210.46 MT of freight and May 1 up to August 31, 2020, onMay30,2019,powersecre- the peak demand, implying activities remained muted its earnings. spondingmonthsoftheprevi- had freight receipts of `1.23 IRhasoperated4,621Shramik CBI arrests 3 GST tary Sanjiv Nandan Sahai said that most power plants are amid lockdowns imposed Freight operations, the ous year.The modest recovery lakh crore. Strong automobile Special and about 63 lakh officials onTwitter.“Theentiredemand running at low capacity utili- across the nation to contain mainstay of the Railways’ camewith the launch of time- loading and increased trans- migrants have been trans- was met,”Sahai added. sation.Plantloadfactorofcoal- the coronavirus outbreak. internalreceipts,beganfalling tabledparcelservicestomain- port of fuel,foodgrains,iron & ported tovarious destinations THE CBI HAS arrested The record peak demand basedpowerplantsfellto50% Though power consump- as the double effect of an eco- tain the supply of essential steel,aidedbyeconomicrecov- acrossIndia.Theimpactofthe three GST officials and a was reached at 9:48 AM on in the first half of FY21 from tionincreasedannuallyforthe nomic slowdown and Covid- items — PPE kits, medicines, ery, have brought Railways lockdown has been severe on private individual in a Wednesday. The rise in 58% ayearago. third consecutive month in led disruption brought down foodgrains, milk, medical back in the game.’ passengersegment earnings. `10-lakh bribery case demand is a good news for Peak demand reflects the November, the April-Novem- the volume of goods carried. equipment etc — to every cor- Railwaysarealsoputtingin Budget2020-21estimates involving tax issues of an power producers, as owing to highest power requirement berdemandwasstill5%lesser Railwayscarried110.19MTof ner of the country.Railways placeaslewofnewmeasuresto hadpeggedearningsfrompas- Odisha-based education lowerconsumption,electricity level reached at a particular than same period last year. goods in January and 106 MT also tied up with e-commerce tap industry.A“Freight on Pri- senger business at `61,000 trust,officials said generation from thermal moment,andisdifferentfrom Lowerelectricityvolumescon- in February2020. companies to expand freight ority”policytoexpandloading crore but Railways will end up Wednesday.Theywere power plants in April-October actual consumption volumes. sumedbyhighlyindustrialised April saw a sharp slide in volume. fromtraditionalsegmentsand with only `15,000 crore this caught exchanging the was 8.3% lower than corre- Power consumption in the states in FY20 had dragged loading to 65.14 MT and It is from August 2020 attract new customers, mea- fiscalyear,a72%year-on-year alleged bribe of `10 lakh sponding period last year.The countryfell8.5%year-on-year down the country’s annual though freight operations onwards that freight loading sures for development of slump.In FY20,the passenger between them,the agency installed power generation (y-o-y) to 625.6 billion units demand growth to a six-year showed improvement in May hasshownasmartturnaround goods sheds through private revenue was around `53,000 officials said. capacity of 3,74,199 MW in (BU)inthefirsthalfofthefiscal lowof 1.3%. andJune,volumeofgoodscar- with IR carrying 94.63 MT of investment and induction of crore.

From the Front Page

Astra gets UK Authorisation (EUA) request of Pascal Soriot, CEO, US administration would wel- Deadlines for Pfizer,Serum Institute of India AstraZeneca, tweeted on come early consultations with nod,awaits (SII)andBharatBiotech.Further Farmers win in two of four issues Wednesday, they are working Europe on China's economic filing GST,I-T timewasrequestedonbehalfof with the UK government and practices. —Reuters India approval Pfizer.The additional data and ACCORDING TO THE deci- talks and I hope there will be ber of working group of thefirstvaccinationswillbegin returns BRITAIN HAS RESPONDED information presented by SII sionconveyedbythegovern- an agreement between gov- Samyukta Kisan Morcha earlyintheNewYear.Soriotsaid RBI liquidity: withoneofthewesternworld’s andBharatBiotechwasperused ment after talks that lasted ernmentandfarmerunions:” (United Farmers’ Front), the millions of people in the UK extended swiftest vaccination pro- andanalysedbytheSEC. for over five hours with rep- "Wewelcomethespiritof umbrellabodythatorganises who will get access to this new Top-rated firms THE SAME HAS been done for grammes, and more than The analysis of the addi- resentativesofmorethan40 today’stalksandarehopeful the on-going protest by tens vaccine,whichhasshown to be assessees who are required to 600,000 people were given tional data and information is farmer groups, farmers of a positive outcome in the of thousands of farmers at effective,well-tolerated,simple get 88% of funds furnish report in respect of shots by Christmas. It raced going on. SEC will convene would be kept outside the next round of discussions," the national capital borders. to administer and supplied by “THESEFIRMSALSOhadlower international/specifieddomes- aheadoftheUS,whichisimmu- againonJanuary1. ambit of air pollution Ordi- RakeshTikait,spokesperson, The farmer unions had AstraZenecaatnoprofit. GNPA (gross non performing tic transactions, the govern- nising an average of 200,000 Adar Poonwalla had on nance, meaning no stiff Bharatiya Kisan Union said. demanded that farmers be AstraZeneca said it is work- asset) ratios and were better mentsaidinastatement. peopleadayandhasusedjusta Monday said the approval in penaltieswill be imposed on However, farmer unions keptoutofthepurviewofthe ing with its global partners to capitalised than other NBFCs- Additionally,theduedatefor small percentage of available India was expected to be them for stubble burning. stubbornly stuck to their recently promulgated Ordi- continuebuildingmanufactur- ND-SI,” RBI said, adding that makingdeclarationunderVivad dosesinmanystates. received almost simultane- Also, the current electricity demand that the three new nanceonairpollution,under ing capacity of up to 3 billion TLTROs have proved to be a se Vishwas scheme has been UK health secretary Matt ously orwithin days of the UK subsidysystemforirrigation, laws be repealed.On its part, whichupto`1crorepenalty doses of the vaccine globally in valuable tool in its arsenal in extendedbyamonthtoJanuary Hancock said he was confident regulator approving the vac- where the farmers pay at the government asked the and 5-year imprisonment is 2021onarollingbasis,pending tacklingthedisruptionscaused 31. that with theAstraZeneca shot cine.SII had applied for emer- highly subsidised rates,will farmer leaders to discuss provided for stubble burn- regulatory approvals.The vac- by Covid and improving the Further,in order to provide addedintothemix,thecountry gency use authorisation on continue, so farmers won’t clausebyclausealltheprovi- ing. cine can be stored,transported resilienceoftheNBFCsector. reliefforthethirdtimetosmall will be through the crisis by December7.The companyhad have to pay the full rate and sions of the Acts with an Since October, seven andhandledatnormalrefriger- Among the measures taken and middle-class taxpayers in spring. The vaccine can be also subsequently presented then get the subsidy at bank expert committee. rounds of talks have been ated conditions (2-8° Celsius) byRBItocounterthedisruption the matter of payment of self- deployed swiftly because it’s additional data sought by the accountsviathedirectbene- Tomar also appealed to heldbetweentheCentreand for at least six months and brought on by the pandemic assessment tax, the due date easier to transport and store regulators,Poonawallasaid. fit transfersystem. farmer leaders to ensure farmers over the farm laws. administered within existing was the injection of `1.12 lakh extended,thegovernmentsaid. than the Pfizer-BioNTech one, HealthministerHarshVard- While assuring that pro- return of women, children Modi had appealed to farm- healthcaresettings. crore through TLTRO 1.0 for Itaddedthattheduedatefor requiringonlyrefrigeratortem- hanhadindicatedataSIIevent curement and market of and senior citizens to their ers to come for discussions, investmentincorporatebonds, paymentofself-assessmenttax peratures rather than deep onMondaythewaitforthevac- agriculturalproduceonMSP homesinviewoftheextreme following which protesting EU,China seal commercial paper, and non- fortaxpayerswhosetaxliability freezing.TheUKhasbought100 cinewas going to end soon and will continue as before,agri- coldweather.Commerceand union leaders had mooted convertible debentures and is up to `1 lakh has been milliondoses. —Bloomberg that the countrywould see the culture minister Narendra food minister Piyush Goyal their agenda. During the investment deal TLTRO 2.0 auctions for invest- extendedtoFebruary15andfor vaccinelaunchinJanuary2021. Singh Tomar suggested that and minister of state for sixth round of talks,which CHINA WILL BAN the forced ment in investment grade others itwould nowbe January Serum expects The Covid-19vaccine has been a committee could be commerce Som Prakash was held between a select transferoftechnologyfromfor- bonds,commercial paper,and 10. developed in record time and formed to resolve the differ- were also present in the dis- group of 13 leaders with eign companies, and has non-convertible debentures of Shailesh Kumar,partner at approval in the demonstratedIndia'scapability ence between MSP of agri- cussions. home minister Amit Shah, pledgedtobemoretransparent NBFCs,withatleast50%ofthe Nangia&CoLLPsaid:“Taxpayer to make vaccines for India and cultural produce and their OnthedemandthatMSP the farmers’representatives on subsidies and bar state- total amount availed going to should note that the interest next few days theworldandnowitwasonlya market prices. be made statutory, the gov- were told in clear terms that owned enterprises from dis- smallandmid-sizedNBFCsand clock continues and taxpayers IT HAS ALREADY manufac- matteroffewweeks,thehealth Expressing the hope that ernment had asked how the government could not criminating against foreign micro finance institutions waiting to file as per further tured and built up a stock of ministersaid. the next round of talks will could it be enforced across repealthelaws,butwasready investors. (MFIs). extended timeline will need to around 50 million doses at its TheIndiangovernmenthas produce a solution to the thecountryevenifsuchalaw for “reasonable” amend- The deal brings Europe a The report credited the payadditional1monthinterest Punefacility indicated that 30 crore people vexed issue, Tomar said: "I ismade.Thefarmerstoldthe ments.OnlegalisingtheMSP degreeofparitywiththeUnited TLTRO scheme with having (except small taxpayers having TheSubjectExpertCommit- wouldbevaccinatedinthefirst hope that in the new year, panelofministerstomakeit systemtoo,Shahhadreport- States,whichhasstrucka"Phase partly offset the slowdown in self assessment tax liability up tee (SEC) in the Central Drugs phase.Frontlinehealthworkers, solutionswouldbefound.The legal and discuss the edly told the government’s I"tradedealwithChina.JakeSul- credit to NBFCs as banks to`1lakh).Thus,ifeverythingis StandardControlOrganisation seniorcitizensandthosesuffer- remaining issues will be dis- enforcementissuelater,said reservationsinacceptingthe livan,President-electJoeBiden's invested in their debt papers final,taxpayersshouldgoahead (CDSCO) met onWednesday to ing with co-morbidities would cussed in the next round of ShivKumarSharma,amem- demand. pickasnationalsecurityadviser, underthescheme. with filing,instead of availing consider the Emergency Use bethefirsttogetthevaccine. tweeted lastweek that the new theextendedperiod.”

Pune WWW.FINANCIALEXPRESS.COM THURSDAY, DECEMBER 31, 2020 FINANCIAL EXPRESS ECONOMY 3

COVID CRISIS Suspension of scheduled international Health min asks states passenger flights extended till Jan 31 India-UK flights to remain THE COVID-INDUCED SUS- lowed on selected routes bythe avirus pandemic. But special PENSIONofscheduledinterna- competentauthorityonacase- internationalflightshavebeen to keep vigil on New tional passenger flights has to-case basis,”the Directorate operating under the Vande suspended till Jan 7: Puri been extended till January 31, GeneralofCivilAviationadded. Bharat Mission since May and Year celebration events aviation regulator DGCA said Scheduled international under bilateral “air bubble” PRESS TRUST OF INDIA Twenty people in India onWednesday. passenger services have been arrangements with selected New Delhi, December 30 have tested positive for the PRESS TRUST OF INDIA months. “However, international suspended in India since countries since July. newUKvariantofSARS-CoV-2 New Delhi, December 30 Keeping in view the fresh scheduled flights may be al- March 23 due to the coron- —PTI PASSENGER FLIGHTS BE- so far, the Union health min- surge of coronavirus cases in TWEEN the UK and India istrysaid onWednesday. THE UNION HEALTH min- Europe and the Americas, would remain suspended till Thetallyincludessixpeople istry has asked all states to therewasstillaneedformain- UNITEDBREWERIESLIMITED January 7 and they will re- whowerefoundpositiveforthe keep a strict vigil on NewYear taining comprehensive pre- Registered Office: “UB Tower”, UB City, # 24, Vittal Mallya Road, Bengaluru - 560 001. Phone: +91-80-45655000, Fax: +91-80- 22211964. CIN: L36999KA1999PLC025195 sume in a “strictly regulated” newvirusstrainonTuesday. celebrations that could be po- cautionandstrict surveillance Website:www.unitedbreweries.com, Email:[email protected] manner thereafter, aviation Thehealthministryhadan- tential Covid-19 super- within India,he underlined. minister Hardeep Singh Puri nounced onTuesdaythat sam- spreader events and also to “You will appreciate that NOTICE said on Wednesday. plesofallinternationalpassen- curb crowding as a precau- in thewake of NewYearand The civil aviation ministry gers who arrived in India from tionary measure during the various celebratoryevents as- All shares pertaining to and comprised in the undelivered share certificates lying with the company / its transfer had last week suspended all December9-22andtestedpos- winter season. sociated with it as well as on- agents were transferred to an “Unclaimed Suspense Account” (hereinafter referred to as the “SUSPENSE flights between the European Aviation minister itive for Covid-19 will be sub- In a letter to states and going winter season, strict ACCOUNT”) in demat mode as per the SEBI circular dated 16.12.2010 after sending three reminders to the country and India from De- Hardeep Singh Puri jected to genome sequencing, UnionTerritories,healthsecre- vigil is required to be main- beneficiaries of the said shares. The following share holders whose shares have been transferred to such cember23toDecember31asa which helps in understanding tary Rajesh Bhushan stated tained to curb all potential “SUSPENSE ACCOUNT” have now approached the company and have provided necessary documents for mutated variant of the coron- is recommending extending how the new virus variant that the number of active ‘super spreader’ events and credit of the said shares to their respective demat accounts. NOTICE is hereby given that the Company will aviruswasdetectedthere. temporary suspension of In- spreadsandevolves. Covid-19 cases has been de- places where crowds may proceed to release the Shares to the below mentioned shareholders unless a valid objection is received by the Puri's announcement has dia-UK flights till January 7 ThepresenceofthenewUK clining steadily in the country gather,” Bhushan said in Company within 15 days from the date of publication of this notice. comefollowingarecommenda- “based on the inputs received variantofthevirushasalready for the last three-and-half the letter. Sl. Folio Certificate No. of Distinctive Distinctive tion by the Union health min- from the Joint Monitoring been reported by Denmark, No No. No. Shares No. from No. to Name of the Shareholders istrytoextendthesuspensionof Group(JMG)headedbytheDi- Netherlands, Australia, Italy, India-UKflightstillJanuary7. rector General of Health Ser- Sweden,France,Spain,Switzer- Maha lockdown extended till Jan 31 1. 002972 113474 400 7343231 7343630 Preeta Katyal Puri said on Twitter:"Deci- vices (DGHS) and the National land,Germany,Canada,Japan, 2. 073791 115371 60 8009251 8009310 Satish Gopal and Madan Gopal sion has been taken to extend Task Force jointly headed by Lebanon and Singapore. THE MAHARASHTRA GOV- down in the state has been 3. 068097 118439 120 8435871 8435990 Natesh Nayak H ERNMENT the temporary suspension of DG, ICMR and member Scheduled international has extended till extended till January 31,"the P. Ganapathy Venkatarajan and 4. 077736 118637 280 8495981 8496260 flights to & from the UK till 7 (Health) NITIAayog”. passenger flights continue to January 31, 2021 the lock- circular said. P. Balasubramanian January2021." Bhushan also suggested remain suspended in the down restrictions in the state The activities already al- “Thereafter strictly regu- that after January 7, 2021, countrysinceMarch23dueto on account of coronavirus. lowed and permitted from Any person(s) having any objection against release of the above shares should lodge his/her/their objection lated resumption will take strictly regulated resumption the pandemic. Acircularto this effectwas timetotimeshallbecontinue, with all supporting documents stating the nature of objection with the Company at its Registered Office within place for which details will be oflimitednumberofIndia-UK However, airlines have issued on December 29. it added. Over the past few 15 days from the appearance of this notice failing which the Company will proceed to release the Shares to the announced shortly,”he said. flights may be considered and been permitted to operate "The state is threatened months, the government has persons mentioned above and thereafter no objection/claim will be entertained from any person(s) by the Earlier during the day, the specifics of such a mecha- special international flights with the spread of Covid-19 eased several lockdown re- Company. For UNITED BREWERIES LIMITED health secretary Rajesh nismmaybeworkedoutbythe under the Vande Bharat Mis- virus. Therefore, to take cer- strictions. Last month, the Sd/- Bhushan said in a commu- ministry of civil aviation in sion since May this year and tain emergency measures to government had allowed re- : GOVIND IYENGAR Place Bengaluru Senior Vice President - Legal & nique to aviation secretary consultationwiththeministry under the bilateral air bubble prevent and contain the opening of places of worship. Date : 30/12/2020 Company Secretary Pradeep Singh Kharola that it of health. pacts since July. spread of the virus,the lock- —PTI Labour Bureau to complete 4 surveys,including one on Onion prices migrant workers,by October 2021: Santosh Gangwar climb to `2.5K per quintal at FE BUREAU able by October,2021,"labour dra Modi. New Delhi, December 30 minister Santosh Gangwar In his message,the Prime Lasalgaon saidaddressingseniorofficials Minister highlighted that for ONION PRICES AT the Lasal- THE GOVERNMENT WILL oftheministryontheoccasion thelasthundredyears,theBu- gaon wholesale mandi in soon launch four pan-India of centenaryyear celebrations reau has been generating Nashikhaveclimbedby28%in level employment surveys — of the Bureau. labour,price and employment two days to reach `2,500 per on migrant workers,domestic Gangwar said that the statisticswithgreatallegiance quintalonWednesdayafterthe workers, employment gener- Labour Bureau would also and dedication. government lifted ban on ex- ated by professionals and launch an 'All India Quarterly The Prime Minister also port of the kitchen staple with transport sector — in March Surveyon Employment of En- opined that the three historic effectfromJanuary1. andcompletethesesurveysby terprises' that will provide labourcodeswill not onlypro- The government on Mon- October,2021. comprehensive data on the tecttheinterestsofhardwork- daylifted the export ban on all "The LabourBureau has re- employmentnumbersinboth ing workers but will also form varieties of onions. “The ex- cently been entrusted with the organised and unorgan- the basis for increasing pro- port of all varieties of four all-India surveys on mi- Labour minister Santosh ised sectors. ductivityto higherlevels. onions...has been made free grantworkers,domesticwork- Gangwar On this occasion, Director Speaking on the occasion, with effect from January 1, ers,employmentgeneratedby General, Labour Bureau, DS Negi said work related to the 2021,”theDirectorateGeneral professionals and transport by early March, 2020 and the Negi read out a special mes- launch of four all-India sur- of Foreign Trade (DGFT) had sector which will be launched results of these will be avail- sagebyPrimeMinisterNaren- veys is in full swing. said in a notification.—PTI

Pune 4 FINANCIAL EXPRESS WWW.FINANCIALEXPRESS.COM

The findings of OYO's Travelopedia is a testament that EXPERTVIEW India is ready to travel again, and we at OYO are here along with our partners ready to welcome them again. I can confidently say that we are emerging stronger out of this crisis compared to when we entered it... —Rohit Kapoor, CEO, OYO Hotels and Homes, India a CompaniesTHURSDAY, DECEMBER 31, 2020 nd South Asia Quick ● FY22 OUTLOOK Vedanta: No pledge on View Steel demand should growat shares; fundraising terms bar GDPgrowth rate: Narendran promoters from share sale PRESS TRUSTOFINDIA New Delhi, December 30 CONDITIONS SET He says government’s Tata Steel installs focus on rural VEDANTA'SPROMOTERSCANNOTsellor ■ Vedanta had on piped conveyor in createanysecurityonsharestheyholdinthe Tuesday informed Shares infrastructure projects will group as part of the terms attached to the stock exchanges ` also boost steel demand West Bokaro mine recent$1.4-billionfundraisingconditions, about its which technicallyfallwithin the definition promoters raising TATA STEEL HAS installed a Long of‘encumbrance’but no pledge on shares $1 billion debt by FE BUREAU Pipe Conveyor (LPC) at its opencast has been created, the company said on issuing equivalent notes to Mumbai, December 30 coal mines in theWest Bokaro Divi- Wednesday. Citicorp International and Tata Steel MD & CEO said sion, the facility that will bring coal VedantahadonTuesdayinformedstock another $400 million in notes to RIL completes buy of TATASTEELCEO andmanagingdirectorT steel prices were likely to stay firm andby-productsfromthewasheries exchanges about its promoters raising $1 an entity under Oaktree Capital IMG Worldwide stake VNarendran on Wednesday said the steel as China was not expected to to the Chainpur railway siding, billion debt by issuing equivalent notes to Group demandinthecountryshouldgrowatleast replacing the existing ropeway Citicorp International and another $400 in sports mgmt JV export large volumes owing to a ■ The notes in both cases will be attherateofGDPgrowthorhigherinFY22. better balance in their domestic transportation system. million in notes to an entityunderOaktree RELIANCE INDUSTRIES HAS He expressed optimism about the demand CEO & MD TV Narendran said CapitalGroup. partly secured by shares in the market, and there were no other completed acquisition of IMG forsteel in India in 2021,backed byinflow implementing best-in-class tech- The notes in both cases will be partly Mumbai-listed unit Vedanta Worldwide’s stake in theirsports of funds from across sectors and an uptick very significant exporters in the nologies and sustainable practices securedbysharesintheMumbai-listedunit management jointventure IMG in the overall consumption; government’s world market werecriticalsuccessfactorsformin- Vedanta. “As per the terms of the notes Reliance (IMG-R).“The companyhas, efforts to improve infrastructure,coupled ing operations. The four-km-long issued,therearecertaintermswhichrestrict exchangefilingonTuesday. on December28,2020,completed withthe‘AtmanirbharBharat’policyandthe LPCwouldimprovetheproductivity thepromotercompaniesofVedantatocre- Theremainingproceedsofthe$1billion the acquisition of equityshares of ProductionLinkedIncentive(PLI)initiative. betweenChinaandAustralia.Consequently, and help in reducing the environ- ate anysecurity,or to sell,lease,transfer or fundraiseshallbeusedtoservicethedebtof IMG-R.Accordingly,IMG-Rhas Additionally, the government’s focus on more coal is available fromAustralia in the mentalfootprintincoallogistics,sig- otherwise dispose of any of their shares in promoter group firms,“VRL,Twinstart or become awholly-owned subsidiaryof ruralinfrastructureprojectswillalsogivean worldmarketandIndiabeingabigimporter nificantly. VedantaLimitedheldbythemand/ortobe Welter and/or for acquisition of equity the company,”Reliance Industries impetustothesteeldemand. ofcoaliswitnessingsofteningofprices. Thispipedorcoveredconveyorwill acquired by them,”the company said in a shares of Indian subsidiary/(ies) ofVRL by said in a regulatoryfiling.Lastweek, Commenting on the outlook on steel He highlighted that currently,capacity not only have zero spillage, but will statementonWednesday. Twinstar/Welter if decided and in accor- RILannounced itwill buyout IMG prices, he said, globally, steel prices were utilisationofmostofthesteelproducersin alsobenoiselessandimproveproduc- These terms, it said, “technically fall dancewithapplicablelaw,”itsaid. Worldwide LLC from theirsports likelytostayfirmasChinawasnotexpected the country has improved and they have tivityintheWestBokaroDivision.The within the definition of the term‘encum- London-based VRL last week raised its management JVfor`52.08 crore. to export large volumes owing to a better healthy order books,while maintaining a conveyor,driven by controlled start brance’ provided under Chapter V of the stakeinVedantato55.11%bybuyingfrom balanceintheirdomesticmarket,andthere cautious stance with regards to the Covid- transmissiondrives,comprisesasteel TakeoverRegulationsofSebi”andhencethe openmarketsharesworth`2,959crore. SonyPicturesIndiasees were no otherverysignificant exporters in 19pandemic.“Moststeelproducers,includ- cordbeltwithfireresistantproperties. necessary standard disclosures have been VRLbought 18.5 crore shares at a price theworldmarket.“Weareoptimisticabout ingus,doprefertosellmoreinthedomestic Maintenance staff and all necessary filed. of`159.94pershare.Itmadethepurchase marginalslipinrevenue the overall demand forsteel and hence the market.Overall,the demand-supplysitua- equipmentwillbebornebytwomain- However,“there is no pledge created on through block deals.The purchase in the SONYPICTURES NETWORK India performance of the steel industryandTata tionfavoursthesteelproducerswithstrong tenancetrolleysatthetopofthecon- any shares ofVedanta Limited held by the open market helped the firm raise its stake reported a marginal decline in Steel,”hesaid. internationalprices.Wearecertainlybackto veyor.LPCreiteratesTataSteel’scom- Promoters,”itadded. inVedantato55.11%from50.13%. revenue from operations on ayear- On rawmaterial prices,Narendran said wherewewerebeforethepandemicandwe mitment to safety and environment The funds raised from Citicorp“will be The move came weeks after the firm’s on-yearbasis in FY20.Revenues stood itwould be a mixed bag.Iron ore has seen a expectthetrendtocontinuethroughFY22. friendlysustainableminingpractices. usedtofundthetenderofferforanyandall failedattempttodelistVedantafromIndian at `5,781.30 crore during theyear sharpriseinpricesprimarilybecauseChina Thepandemic,however,isnotbehindus Narendransaid. ofVedantaResourcesLimited’s(VRL’s)out- stockexchanges.Thedelistingfaileddueto against `6,223.72 crore in FY19.Net has recovered quite well.Coal prices have yet and we cannot let our guard down,”he —FE BUREAU standing$900millionor8.25%bondsdue insufficientnumberofsharesbeingoffered profits,however,increased to softened because of the geopolitical issues said. 2021,” the company had said in a stock inthebuybackproposalofVRL. `975.97 crore in FY20 from `346.42 crore in FY19,the company’s filings sourced fromToflershowed. Jio seeks Punjab CM’s intervention to safeguard telecom infra GigIndia raises Emirates arm transports PRESS TRUSTOFINDIA ryingouttheirdaytodayactivity,education, “Across Punjab,we have approximately `7.6 crore in Brazalian satellite to India New Delhi, December 30 business,study etc,”Jio said in the letter to 250 Jio offices and showrooms, but our SKYCARGO,THE CARGO arm of AmarinderonDecember27. employees are not being allowed to enter Pre-Series A from Gulf carrierEmirates,has successfully WITH ITS TELECOM infrastructure in the The letter said those involved in inci- their own office,which is causing a feeling flown a Brazalian satellite in a charter state being damaged during farmers’ dents of sabotage and vandalisation were of scare and insecurityand risk of employ- angel investors freighterfrom Sao Jose dos Campos protest,Reliance Jio has written to Punjab even posting the videos and pictures on ment and earning livelihood to them,”said (Brazil) to Chennai,which is to be chiefministerAmarinderSinghseekinghis socialmediaasif“boastingoftheiracts”. theletterseenbyPTI. FE BUREAU launched into space from the Satish intervention for action against those “...now situation has worsened to the AmailsenttoRelianceJioontheissuedid Pune, December 30 Dhawan Space Centre in February responsible for the incidents of“sabotage extent that manypersons are openlymov- not elicit a response.Meanwhile,Jio’s letter nextyear,the airline said on andvandalism”. In a letter to CM Amarinder Singh, Jio ing and damaging our sites with weapons, further claimed that “as per local inputs GigIndia,aPune-basedB2Bgigmarketplace Wednesday.Emirates SkyCargo has In a letterto the CM,Jio flagged the acts flagged the acts of sabotage and posingathreatandrisknotonlytothetele- from field, such activities are likely to be start-up,hasraised`7.6croreinPre-SeriesA expertise in transporting satellites of sabotage and vandalism at its network vandalism at its network sites com infrastructure but also to the life of intensifiedtremendouslyresultinginmany funding from angel investors. GigIndia, and othercargos developed forspace sites“byunknownpersonsinthedisguiseof thousands of our direct and indirect moresuchactsofsabotagesatothercritical founded in 2017, by Sahil Sharma and technology,the airline said in a ongoingfarmersagitation”. ventionbyadirectionfromyourgoodoffice employees,”saidtheletterwrittenbyTajin- networklocations”. Aditya Shirole,provides on-demand work statement. Itallegedthatthedamagebeinginflicted tothedistrictadministrationtotakeaction derPalSinghWalia,statehead-RelianceJio Urgingthestateauthoritiestosafeguard completion at scale via gig workforce for is “deliberate” in nature with “ulterior against the miscreants who caused this Infocomm,PunjabCircle. thetelecominfrastructure,connectivityand sales,marketingandoperations. EVCOSMOS ties up motives and clearintent”of causing maxi- damage,andpreventionofanyfurtherdam- Jio said such is the extent of fear and services,thecompanyhasalsosoughtpolice Thestart-uphasaround800,000gigwork- mum disruption to the company’s infra- age as apart from losses to the infrastruc- threatsloomingintheenvironmentthatits protectionforitsemployeesfortimelyrepair ers registered on its platform across 200- with ChargeNet structureandservices. ture,peopleofPunjabaresufferingbecause own employees are being forced to get out and restoration of the sites which have pluscitiesinIndia.GigIndiaplanstousethe INDIAN ELECTRICVEHICLE charging “Wehumblyrequestforyourkindinter- theirlifeisgettingimpactedseverelyincar- ofoffices. alreadybeendamaged. freshly-raised funds in enhancing their solution providerfirm EVCOSMOS technology platform for building a larger India onWednesdayannounced its tie community of such workers to serve con- -upwith ChargeNETforsetting up tracts signed with the largest enterprises 500 public electricvehicle charging Reliance-BP invites bids for Prasad praises Digital India for from nextyear,Sharma,co-founder& CEO stations in India.EVCosmos recently ofGigIndia,said. signed an MoUwith ChargeNETSri AnjaliBansal,founderofAvaanaCapital Lanka towork togetherin the Indian 7.5 mmscmd gas from KG-D6 proved efficiency during Covid and Vineet Patni, former president, Bajaj Market,a statement said. Allianz, have infused an undisclosed PRESS TRUSTOFINDIA GCVstandsforgrosscalorificvalue. PRESS TRUST OF INDIA amountoffundsintoGigIndia’slong-term L&Topens‘Planet L&T’, New Delhi, December 30 ‘V’ can be a positive, zero or negative New Delhi, December 30 mission.InJuly,thecompanyhadraisedpre- numberanduptotwodecimalplacesbutit SeriesAfundingledbyJapan-headquartered enabled digitally RELIANCE INDUSTRIES AND its partner cannotbelessthan(-)0.30USD/mmBtu,it THE EFFICACY AND strength of“Digital Incubate Fund India with participation LARSEN &TOUBRO (L&T) on UK’s BP on Wednesday invited companies said.Thismeansuserswillhavetoquote— India”were proven during the pandemic from Beyond Next Ventures and existing Wednesdaysaid it had opened‘Planet to bid for incremental gas it plans to pro- 0.30 or higher value of ‘V’.JKM averaged astheprogrammedeliveredtheoutcomes angel investors,including formerTCS CEO L&T’,a digitally-enabled corporate duce from the second-wave discoveries in $6.20 per mmBtu in November and at the “effectivelyandsubstantially”,ITminister SRamadorai. experience centre that provides an theKG-D6block,pricingthemforthevery base orcut off price,KG-D6 gaswould cost Ravi ShankarPrasad said onWednesday. Shirole,co-founder and COO,GigIndia, immersive-experience through 12 first time against an international gas $5.9permmBtu.Thisishigherthan$4.2to Prasad said the programme’s role in saidthegigeconomyhadplayedamajorrole high-tech zones.It said robots‘Elle’ benchmark. 4.4 per mmBtu rate at which the first 5 bridgingthedigitaldivideandbringingin IT minister Ravi Shankar Prasad said it in keeping operations ticking during the and‘Tee’navigate Planet L&Tvisitors, While Reliance-BP had in November mmscmdaresoldatBrentcrudeoilbench- inclusionwas“soevidently”inplayduring was a mark of accomplishment that Covid-19outbreak.GigIndiahascompleted symbolising L&T’s thrust on state-of- 2019soldthefirst5millionstandardcubic mark. Brent crude oil is presently in the the challenging times of pandemic. Digital India Awards 2020 were being 13milliongigsfromMarchtoNovemberon the-art tech experiences.“L&T,India’s meters per day (mmscmd) of gas from the rangeof$50to51perbarrel. “Digital India is a transformative pro- conferred digitally this time the platform across 200-plus cities. The leading engineering,procurement R-Series field in the KG-D6 block,the duo Pricing of gas at JKM will be the first gramme, launched in 2015...five-and-a- companyalsodoubleditsownteamduring and construction projects, has now invited bids for 7.5 mmscmd of time that domestically produced gas is halfyearsdowntheline,thepandemicwas tinuity during the pandemic, Prasad said the last eight months. GigIndia has seen manufacturing,defence and services incrementaloutputthatislikelytobeavail- beingsoldatrateslinkedtoaninternational a big opportunity to test the efficacy of the Centre, states, various government growth in gigworkers fromTier-II,-III and conglomerate,opened the doors to ablefromFebruarynextyear,accordingtoa gasbenchmark,industrysourcessaid.Also, Digital India. agencies, and district administration all Tier-IV cities from 5.22% in March to ‘Planet L&T’,its sprawling new noticeinvitingoffer. this will be the first discovery of gas price “Iwouldneversaythateverythingwas ensured digital deliveryof services. 58.11%inSeptember.Therewasalsoanear digitally-enabled corporate Theyhavepricedthefirst5mmscmdof sincetheOctober2020decisionofthegov- completely extraordinary but the Digital Total22digitalgovernanceinitiatives/ 4xgrowthinfemalegigworkersontheplat- experience center,”the companysaid gasagainstBrentcrudeoilbutnowtheyare ernment setting out uniform e-bidding Indiaecosystemdeliveredveryeffectively productsbygovernmententitiesundersix form betweenAprilandOctober. in a statement. seeking rates equivalent to JKM or normsforfindingthemarketprice. andsubstantially,”Prasadsaidspeakingat categories received Digital India Awards Japan/KoreaLiquefiedNaturalGasImport That Cabinet decision also allowed the Digital IndiaAwards’virtual ceremony. 2020 for designing and implementing Minorfire at Baddi plant: Price.Biddershavebeenaskedto“quotethe sale of gas to ‘affiliates’ and so while He said it was a mark of accomplish- innovative citizen-centric solutions and variable denoted as‘V’in USD per million Reliance-BP affiliate companies couldn't mentthatDigitalIndiaAwards2020were improving the ease of living forcitizens. EID Parry sells stake Panacea Biotec Britishthermalunit(mmBtu)terms.” participateintheNovember2019pricedis- being conferred digitallythis time. President Ram Nath Kovind conferred DRUG FIRM PANACEA Biotec on “The gas price (in USD/mmBtu (GCV)) covery, they can do so in the current one Lauding the communications and IT the Digital IndiaAwardsviavideo confer- in Coromandel to Wednesdaysaid a minorfire broke shallbe=JKM+V,”thenoticesaid. whene-biddinghappensonJanuary22. sectorforitsroleinenablingbusinesscon- encing. out at its manufacturing facilityat bring down debt Baddi in Himachal Pradesh,resulting in temporarysuspension ofwork at CHENNAI-HEADQUARTEREDSUGARand the affected part. nutraceuticals company East India Distil- Govt seeks to know impact of 3-yr-old UMANG app leriesParry(EIDParryIndia)onWednesday Colgate launches saidithadfurthertrimmeditsstakeinCoro- KIRAN RATHEE citizens’pointofviewaswellasthatofgov- 39 million and it has 25 million registered mandelInternational(Coromandel)bysell- Vedshakti Oil Pulling New Delhi, December 30 ernmentdepartments.AccordingtotheRFP, users.The app is available in 13 languages ing 58.50 lakh equity shares in the open LEADING ORALCARE products the agency will find out UMANG apps and provides most of the government ser- market. makerColgate-Palmolive (India) on MORE THAN THREEyears afterlaunching impactondifferentsegmentsofsocietyand viceslikeAadhaar,Digilocker,BharatBillPay, The company informed the exchanges Wednesdayannounced the launch of the all-in-one UMANG (Unified Mobile also reasons why some citizens have not gasbooking,Vahan,PassportSeva,PANcard, thatithassold58.50lakhequitysharesheld ayurveda-based oil pulling,extending Application for New-age Governance) app, downloaded the app.The agencywill also Employees Provident Fund Organisation in Coromandel in the open market at an its portfolio in the naturals segment. the government wants to know its impact find out its influence on the participating (EPFO),pensionservices,amongothers.The averagepriceof`803.18pershare.Postthe andwhysomecitizenshavenotdownloaded departments like service reachability,effi- app is available onAndroid,iOS,Windows sale,the EID Parry(India) holds 1,654 lakh M1xchange hopes to theapp. ciency,financialimpactetc. mobileandKaiOS. shares of `1 each,representing 56.42% of The app provides over 2,000 govern- Theideabehindtheappwasthatcitizens Lastmonth,ministerforITandcommu- thepaid-upcapitalofCoromandel,whichis cross `6Kcrin bill deals ment services on a single platform and has Till November 30, UMANG has on- should access pan-India e-governance ser- nications Ravi Shankar Prasad had also in the fertilisers,pesticides and specialty INVOICE DISCOUNTING E- around25millionregisteredusers.Theapp boarded 194 departments, which vices of the central government,state gov- launched the international version of the nutrientsbusiness. MARKETplace M1Xchange on was launched byPrime Minister Narendra offer over 2,000 services in 27 states ernments,localbodiesandtheiragencieson UMANG app.The international version of The proceeds of the sale will be used to Wednesdaysaid it expected to cross ModiinNovember2017withanideatopro- a single mobile platform.The app provides app would help Indian international stu- bringdownthedebtofthecompany,includ- `6,000 crore in bill discounting videallgovernmentservicesonasingleplat- the app has seen 39 million downloads so aunifiedapproach,wherecitizenscaninstall dents, non-resident Indians (NRIs) and ingitswholly-ownedsubsidiary,ParrySug- service in the current financialyear. form.But despite the thrust from the gov- far. one application to avail multiple govern- Indian tourists abroad,avail services of the arsRefineryIndiaandforgeneralcorporate The trade receivable discounting ernment,theappapparentlyhasnotgotthe Now,the Ministryof Electronics and IT mentservices.AsonNovember30,UMANG government of India, anytime. UMANG purposes,itadded.SharesofEIDParryIndia system platform claims to have desiredusagebytheover712millionwire- (Meity)hascomeoutwitharequestforpro- has on-boarded 194 departments,which wouldbeavailableintheUS,theUK,Canada, closed at `351.90,up 5.47%,on BSEwhile crossed a throughput of `10,000- lessbroadbandusersinthecountry.Despite posal (RFP) to select an agency that will do offerover2,000 services in 27 states of the Australia,the UAE,the Netherlands,Singa- shares of Coromandel ended at `802.70, crore since its inception in 2017. beinginthemarketforoverthreeyearsnow, the impact assessment of the app from the country.Totaldownloadsoftheappstoodat poreandNewZealand. down5.74%.—PTI

Pune WWW.FINANCIALEXPRESS.COM THURSDAY, DECEMBER 31, 2020 FINANCIAL EXPRESS NATION 5 ‘RCom group owes `26Kcr Ahmedabad most affordable More entertaining to Indian banks,creditors’ housing market: Knight Frank times ahead as home PRESS TRUST OF INDIA which tracks the EMI (Equated propertyprices,home loan in- grown apps’popularity, PRESSTRUSTOF INDIA New Delhi, December 30 MonthlyInstallment)toincome terest rate and household in- New Delhi, December 30 Indians banks, vendors ratio foran average household, come that determine the and other creditors have AHMEDABAD HAS BECOME has shown meaningful im- buyer’s ability to purchase a user base surge DEBT-RIDDEN TELECOM firm made claims of around the most affordable housing provementinaffordabilityover house. PRESS TRUST OF INDIA Reliance Communications on `86,000 crore on market in the country while thelastdecade. City-wide average afford- New Delhi, December 30 Wednesdaysaidthegroupowed the company Mumbai remains the costliest, The consultant said decline ability statistics cannot high- around`26,000croretoIndian according to property consul- in housing prices and multi- light disparities in housing RIGHTFROMTHEDalgonacoffee banksandfinancialinstitutions. tant Knight Frank decade low home costs within sub-markets or challengetoquirkymusiccompo- The Indians banks,vendors India. Mumbai is the loan interest rates acrosstheincomespectrum,it sitions like 'Rasode mein kaun and other creditors have made croreonRelianceInfratelbefore potentialsubsequentupside. Theconsultant most expensive had helped im- added. tha?',social platforms brimmed claimsofaround`86,000crore the National CompanyLawTri- “The financial stress in the releaseditsAfford- market, with prove housing af- In NCR,the affordabilityra- with user-generated content this on the company,which is cur- bunal (NCLT). “The alleged telecom sector,owing interalia ability Index affordability fordability in tio has improved to 38% from yeardespitelockdownchallenges rentlygoingthroughinsolvency ‘fraud’classification bycertain to the entry of a new player in 2020, which ratio of 61% 2020. 53% in 2010, while in Ben- and the growing popularity of proceedings.“Asperfigurescer- banksisentirelyunjustifiedand 2016withunlimitedfreeoffer- showed that “While Mum- galuru, the ratio has become homegrown short video plat- tified bythe Resolution Profes- unwarranted,and the Hon’ble ings,was not unique to Rcom, Ahmedabad was baiisthemostex- better at 28% from 48% a forms promises to make 2021 sionalappointedbythelenders, Delhi High Court byan interim butdecimatedtheentireindus- the most afford- pensive market, decadeago. even more engaging and enter- the RCOM group owed around orderhasdirectedthesametobe try,and led to the shutdown of able housing market in India with affordability ratio of According to the report,the tainingfornetizens. `26,000 crore to Indian banks keptinabeyanceforthetimebe- services by Aircel, Sistema, with an affordability ratio of 61%, other cities like Ahmed- ratio improved to 26% in Pune With the world's second responses from people in the and financial institutions as on ing,and the matter is now sub Videocon,TataDocomoandsev- 24%, followed by Pune and abad, Chennai and Pune are and Chennai both from 39% largestinternetuserbaseand the country,especiallygiventhepop- the date of filing before the judice,”RComsaid. eral other players,and also se- Chennaiat26%each,in2020. relatively more affordable,” and51%,respectively,in2010. highest data consumption,India ularity of TikTok and PUBG.The NCLT,” ItfurthersaidtheResolution verelyimpactedthefinancialsof A ratio over 50% makes it Knight Frank said. In Hyderabad,the ratio has isabigbetfordomesticandinter- governmenthas been categorical Reliance Communications Plans unanimously agreed by globalgiantslikeVodafoneinits difficult to secure home loans Even for Mumbai, the af- become better at 31% from national digital companies as a that while foreign investments (RCom) said in a statement.The thelendersareatvariousstages Indianoperations,”RComsaid. from banks and housing fi- fordability ratio has improved 47%, while in Kolkata it im- growth driver and money-spin- andinnovationsarewelcome,se- creditorshavesubmittedclaims ofapprovalbeforetheNCLT,and The companysaidVodafone nancecompanies,makingitun- from a high of 93% in 2010 to proved to 30% from 45%.The ner.Millennialsinthecountryare curity of users' data and safe- of around `49,000 crore on upon implementation thereof, Idea has reported losses aggre- affordable to purchase a house, 61%in2020. consultantsaidthataffordabil- not only consuming content on guardingtheinterestsofcroresof RCom, `24,000 crore on Re- the lenders are likelyto recover gating `1 lakh crore in the last KnightFrankIndiasaid. The index captures move- ity ratio improved in Ahmed- these platforms but also actively Indian mobile and internet users liance Telecom and `12,600 at least 70% of theirdues,with 15months. The affordability index, ment in key constituents like abad to 24% from 46 %. creatingcontentacrossgenreslike willbeparamount. comedy, dance and education, Blockingoftheseappscameas amongothers. a boon for homegrown startups With the pandemic and the like Moj, Chingari and Kaagaz OYO: Travel confidence coming back, MoPSWsets sail for ensuing lockdown restricting Scanner that saw downloads and movements,peopleturnedtodig- usage zoom almost overnight. Ramayana cruise,increased italplatformsfortheirdoseofen- This rapid pace of growth also India tops as most booked nation tertainment.Theybinged onweb helpedmanyofthemraisefunds. ship recyclingworks series on Netflix and Amazon VerSe Innovation received PRESS TRUST OF INDIA favourite domestic leisure PrimeVideo,andloggedontoplat- $100 million funding from Mumbai, December 30 hotspots,it stated. PRESS TRUST OF INDIA works.The cruise,which will also forms like YouTube to learn new Google, Microsoft and Falcon In December, over 17 lakh New Delhi, December 30 be the maiden luxury cruise ser- recipesandpickupnewskillslike Edge's Alpha Wave Incubation EVENASTRAVELandhotelin- people checked-in over the viceontheholyriver,willprovide playingtheguitar. whilevernacularlanguagesocial dustrywere theworst affected weekends, with December 12 AS THE GOVERNMENT navi- a mesmerising'Ramcharitmanas Traffic grew manifold and networking platform ShareChat during the pandemic, OYO weekend seeing the highest gated shockwaves of the coron- Tour'. platforms like YouTube, Netflix raised $40 million from Hero said India had topped the numberofbookingssofar. aviruspandemicthisyear,Indian In2020,theNationalAuthor- andFacebookhadtoworkonmit- MotoCorp'sPawanMunjal,DCM chart for the hospitality chain High number of bookings ports facilitated more than one ityforShips Recyclingwas estab- igating mobile and broadband Shrirampromoters'familyoffice, asthemostbookedcountryaf- are also expected around De- lakh crew changes as well as ex- lished and the country also bid networkcongestion. and others. ter the unlocking of economy cember 31 as bookings are still tendedvariousregulatoryconces- adieutoINSVirat. Around mid-year,the Indian Kaagaz Scanner secured and gradual easing of global comingin,itadded. sions for stakeholders and going Ports, Shipping and Water- governmentbanned59appswith $575,000,BoloIndyamoppedup restrictions. “ThefindingsofOYO’sTrav- into2020,aRamayanacruiseand ways Minister Mansukh Man- Chinese links, including the $400,000, and Chingari raised India topped the charts for nessedthemostnumberofcan- lion new user bookings were elopedia is a testament that In- increasedrecyclingofshipsareon daviya told PTI that India aspires hugely popular TikTok and UC $1.3millioninseedfunding. OYO as the most booked coun- cellations across the country madeontheOYOappandweb- dia is ready to travel again,and thehorizon. to grab at least 50% of the global Browser,sayingtheywereprejudi- Abigcrowdpullerwasthefact try,while Delhi clocked in the owingtogovernment’sprecau- sitethisyear. we at OYO are here along with From the shipping ministry ship recycling business after en- cial to sovereignty,integrity and thatmanyofthesecreatorsareus- mostbookingsacrosstheworld tionarylockdown. In terms of destinations, our partners ready to welcome being rechristened as Ministryof actment of the legislation for re- security of the country.Referred inglocallanguagestoconnectwith forit in 2020,it said in a report Withtheunlockingofcities, Puri emerged as India’s top pil- them again. I can confidently Ports, Shipping and Waterways cyclingofships. by many as a 'digital strike', the theiraudiences.Accordingtoare- ‘OYOTravelopedia2020’. December has emerged as the grimage destination,followed say that we are emerging (MoPSW) to initiatives for boost- Thecountry'sshareintheship movecameamidborderstandoff port byShareChat,over750 mil- The annual year-end travel month which iswitnessing the by Vrindavan, Tirupati, Shirdi stronger out of this crisis com- inginlandwatertransporttoaraft recyclingbusinessisaround30%. with China. Another set of 118 lionuser-generatedpiecesofcon- index,OYOTravelopedia 2020, most demand around the holi- andVaranasi,itsaid. pared to when we entered it," of policy measures,waves of de- "We expect maximum vessels to apps were banned in September, tent were uploaded onto its isananalysisofactualbookings, dayseason,itsaid. However, when it came to OYO Hotels and Homes,India velopment efforts hit the shores come to India in 2020-21 for re- while43moreappswereaddedto platformthisyear,withHindiusers cancellations, enquiries and The index further revealed beachdestinations,Goawasthe and South Asia, CEO Rohit in2020. cycling,"Mandaviyasaid. thislistinNovember. accountingfor26%contribution. searches that took place on the that the gradual unlocking hotspot, followed by Kochi, Kapoorsaid. After the launch of the coun- Currently, India recycles 70 The list of banned apps in- TheTwitter-backed platform, platform of the hospitality strengthened consumer confi- VizagandPondicherry. “While 2021 will be a new try'sfirstseaplaneservice--from lakh gross tonnage of ships per cluded a variety of popular ones whichhasover160millionusers- chain. dence to travel again safely as Delhi,Bengaluru and Hy- learning in itself,we’re hopeful the Statue of Unity, Kevadiya to annumwhile that of Bangladesh suchasAlibabaGroupHolding'se- - saw over 700 million hours of Accordingtotheindex,while majority of bookings were for derabad ranked as the most that the changes we have Sabarmati River in Gujarat -- in is68lakhgrosstonnage.Pakistan commerce app AliExpress, videocontentbeingconsumedon 2020 started on a happy note, October 2 (Gandhi Jayanti) and popularcitiesamongbusiness brought in 2020 will set new OctoberbyPrimeMinisterNaren- recylces 37 lakh gross tonnage of WeChat,PUBG,BaiduandTencent theplatformduringtheyear,with with January being the most Christmaslongweekends. travellers, while Jaipur, Goa, precedents in the travel and draModi,Ramayanacruiseonthe ships and that of China is 34 lakh Weiyun. 30,000 hours ofvideos uploaded travelledmonth,April2020wit- Thereportsaidover8.5mil- Kochi were travellers' hospitalitysector,”headded. Saryu river in Ayodha is in the grosstonnageperyear. Thedevelopmentdrewmixed onShareChatdaily.

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New Year’s Day Rings in a Season of New Hopes! HILE 2020 was a difficult year, being destinations such as Lonavala, Mahabaleshwar, change and challenges. New Year’s Day also Wstacked with natural disasters, lockdown, Goa,Ratnagiri,Pondicherry,etc.that are taking all gives us the chance to reflect on the past year, home isolation, economic and mental suffering, the safety measures and are even taking book- because most of us are a bit different than what bleeding healthcare systems and the death of ings.A short trip to such cool destinations would be we were 365 days ago. hundreds of thousand people, the year 2021 is perfect for a socially distanced holiday. So, when we celebrate New Year’s Day what ringing in hope for things to change in our lives.At Now, if you are too homebound to think of we actually celebrate is all the positive changes the same time,there is no certainty yet that 2021 anything else but enjoying the day from the that we’ve brought in our lives over the past one is going to make a vast change in this era of the comfort of your home this year,you may invite a year,with a pledge to start afresh towards a new New Normal. What seems quite likely is that few people over and party till the music drops. beginning. The new year symbolises the possibil- we’re going to see people get more and more Spending New Year’s Eve at home with your ity to become happier not just because crossing creative with the way technology is consumed in loved ones can be a fantastic opportunity to the midnight threshold on December 31st cre- our lives. bond, and have some fun time together.With all ates some kind of do-over magic, but because No matter what the future holds, the festivity the possibilities for fun, food, drinks, games and the turn of the calendar year inherently allows and fervour accompanying new year celebrations activities, spending New Year’s Eve at home can for a mental reset. will remain unaffected. Just because we have a be a real treat. When it comes to celebrating New Year’s Eve different environment for a NewYear holiday this The best way to ring in 2021 would be by de- and the New Year’s Day, one also can’t help time doesn’t mean it can’t be just as festive and as vouring delicious food all day.Well, it is a given thinking about purchases. In India, no celebra- much fun as past years’ celebrations.All it takes is that all of us had to cook enough for ourselves tion is considered complete unless there’s some to have perfect planning according to the New this year during the lockdown period, but now is shopping involved in it, be it party essentials, ap- Normal this time. the time to show off the mastery over dishes you parel or gift sets, etc. This year, vacations have become even more have achieved.Thus, in- sought after for us than before, as the past few stead of going out to a months have really been a testing time for many local spot, whip up of us,and the NewYear’s Day is the perfect time to something at home and have a small getaway to compensate for the amaze your gang with whole of last year. Plus, the fact that this new your talent. year is going to fall on a long weekend presents Also, New Year’s Day an exciting opportunity for all travel junkies who is a symbol for starting have been holding on to their urge to explore and new things in life or mak- travel for almost a year now. ing new resolutions. It’s While we should refrain from travelling to long- the right moment for haul destinations, we can definitely plan a short leaving some things be- trip on this long weekend and head to picturesque hind while embracing

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Rajnath Singh, Union defence minister

In many cases, you may have seen that the religious ❝conversion is being done forcefully and sometimes❝ it is done under greed. ...I think governments which made these laws have considered all these things OpinionTHURSDAY, DECEMBER 31, 2020

Vaccine focus necessary, ● LOOKING BACK THREE TERMS IN PARTICULAR CAME TO SYMBOLISE THE YEAR: but look at antivirals, MABs “WITCH HUNT,"“BLACK SWAN,"AND “EXPONENTIAL” Tackling Covid-19 over the long term will need a diverse array of pharmacological interventions Three terms that ON-PHARMACOLOGICALINTERVENTIONSagainstSARSCoV-2infection, suchastheuseofmasks,distancing,hand-hygiene(includinguseofsanitiser), avoidinglikelysuper-spreaderscenarios,remainthekeyweaponinthefight NagainstCovid-19.But,againstthebackdropofhighlyinfectivestrains—likethe misdefined 2020 UKone—thepharmacologicalarsenalassumesnewsignificance.Vaccinesdominatethis space,with theWHO listing 60 candidates in the clinical trial stage and 172 in the pre- clinicalstage.Massiveinvestmentshavebeenmadeinvaccinedevelopment;asperdata fromAirfinity,ascienceinformationandanalyticscompany,citedinaBBCreport,nearly S PRESIDENTDONALD Finally,the word“exponential”was $18.6 billion has been pumped into the development of just nine vaccine candidates, Trump and the Covid-19 usedfrequentlyincommonspeecheven includingthethreemostdiscussedones(Moderna,Oxford-AstraZeneca,andPfizer/BioN- pandemicdominatedthe before the pandemic—and almost Tech).Thecommercialconsiderationofthevaccinedevelopersaside,suchbigbetswould news headlines in 2020. JEFFREY always incorrectly,to mean“rapid."Of Three terms in particular course,anyonewishingtoplaylanguage seemjustifiedagainstthebenefitsofglobalequitableaccesstovaccinesbeingpeggedat Ucame to symbolise the year: “witch FRANKEL police must confront the argument $466 billion for 10 major economies—Canada,France,Germany,Japan,Qatar,South hunt,"“black swan,"and“exponential." Project Syndicate madebyHumptyDumptyinLewisCar- Korea,Sweden,UnitedArabEmirates,UnitedKingdomandtheUnitedStates—inareport Trump has tweeted the phrase roll’s Through the Looking-Glass, who bythe Eurasia Group,commissionedbythe Bill & Melinda Gates Foundationthat part- “witchhunt”approximatelyonceevery insisted that, “When I use a word, it nersGavi,theVaccineAlliance,which,inturn,ispartoftheWHO’sCOVAXinitiativewhich threedaysonaverageduringhispresi- meansjustwhatIchooseittomean." seekstogivelow-incomecountriesaccesstoCovid-19vaccines. dency,andnotonlyinconnectionwith ular type of evil-doer— witches or metaphorismoreinsightfulthanthat. But linguistic precision is often WhilevaccinesmustleadthepharmacologicalchargeagainstCovid-19—prophylaxis hisimpeachmenttrial.Hecontinuedto communists—is hiding in plain sight, The historical importance of the important for achieving intellectual hasobviousbenefits,especiallyinapandemicscenario—asvaccineexpertDrGagandeep useitlaterintheyeartodescribeaccu- and then tryto identifywho theyare. notionofablackswanliesinBritishphi- precision.Exponentialisamathemat- Kang told this newspaper,the focus is almost exclusivelyonvaccines and investment in sationsthathemismanagedAmerica’s When the president and his many losophy.LikemostBritons,DavidHume icalterm.Itdoesnotmeanrapid.Hard antiviralsandothertherapeuticsagainstthediseasehaslanguished.DrKangspokeofthe Covid-19 response, inquiries into his supportersaccusehisdetractorsofcar- (writing in the eighteenth century) and as this may be to believe, there is not needtobalancevaccinedeploymentwithantivirals,andcalledforgreaterinvestmentin tax returns, an investigation into ryingoutawitchhunt,theyaremaking John Stuart Mill (writing in the nine- even a correlation or association thelatter.Giventhedurationofprotectionfromvaccinescan’tbepredictedwithcertainty allegedcriminalconductattheTrump adifferentclaim.Theyareclaimingthat teenthcentury)hadneverseenone.Rea- betweenexponentialandhighgrowth thisearlyinvaccineroll-out,andtheneedtotreatinfectedpopulationstoreducethebur- Organisation,andothercontroversies. Trump’scriticsstartfromtheunwaver- soning by induction,they might easily rates.The money that one has in the den of Covid-19 morbidityand mortality,there is a need to invest in research on repur- Most people made their minds up ing belief that he is up to have concluded that all bank changes exponentially, due to posingofexistingantiviralsandothertherapeuticsaswellasdenovodevelopment.Nine long ago about whether Trump was nogood,andseeitastheir swans are white. But, as compoundinterest,buttheratecanbe months into the pandemic,the US has approved just one antiviral for therapeutic use guilty of his alleged transgressions.But job to find crimes to pin Britishornithologistswere low or even negative, as European neitherhissupportersnorhiscriticshave onhim.Theyhaveidenti- With the arrival of aware, Dutch explorers interest rates demonstrate. againstCovid-19—remdesivir—whileahandfulofotherdrugshavereceivedemergency Covid-19, people useapprovalandaclutchofothersaremarkedfortrials.Noneofthesedrugsarenew.The givenfullthoughttothelinguisticimpli- fiedhim,andtheyareout had discovered black WiththearrivalofCovid-19,people monoclonal-antibodies space has seen some traction—a clutch of companies,including cationsoftheterm“witchhunt.”Perhaps to get him one way or finally began to use swansinAustraliain1697. finally began to use the word “expo- itdoesn’tmeanwhattheythinkitdoes. another.“Persecution”or So,the bestwayto use the nential”correctly,todescribethenum- AstraZeneca,EliLily,Regeneron,andCelltrion,haveannounceddevelopmentprojects/tri- the word The original witch hunts began in “harassment” would blackswanmetaphoris to ber of infections.The reason why the als,butthesehavebeenovershadowedbyvaccinedevelopmentandfunding;forperspec- “ ” early modern Europe and spread to more accurately convey exponential point out that competent number of cases rises exponentially is tive,AstraZeneca’svaccine project has received nearly$8.2 billion—the US government colonial America, in the religious per- Trump’smeaning. correctly, to experts can and do factor that each infected person infects a haspledged$1.2billion-whileitsmonoclonalantibodycocktaildevelopmenthasreceived secutionofthoseaccusedofpracticing Such distinctions are describe the in data from other number of other people. Epidemiolo- justunder$500million.Tobesure,avaccineisamorepragmaticsolution,butasDrKang witchcraft. In Europe, an estimated crucial. When federal number of decades, centuries, and gists call this average ratio the rate of asks,doestheworldreallyneed200-pluscompetingCovid-19vaccines? 40,000-60,000 people—mainly authorities charged countries,andthatcompe- reproduction, represented by R. It is With the shadowof long Covid and the long-term physiological complications aris- women—wereexecutedbetween1400 gangster Al Capone with infections tent policymakers should designated R0 in a populationwith no ing out of the Covid-19 pathology,there is a need to stall the progression of the disease and 1782.Americans usually think of tax evasion in 1931, it listentotheirwarnings. immunityand no counter-measures. from mild/moderate to severe manifestation.The US National Institutes of Health’s the 1692-93 witch trials in Salem, wasnotawitchhunt.The Contrary to the wide- The use of R has drawbacks,par- Covid-19TreatmentGuidelineunderscorestheimportanceofantiviralsindoingthis;it Massachusetts, in which 30 people targetoftheirinvestigationwasdeter- spread belief in US financial markets ticularly the difficulty of estimating says,givenviralreplication,whichleadstomanyoftheclinicalmanifestationofthedis- were convicted and 19 hanged. minedfirst;thenthechargesthatcould before 2007, housing prices can go it.But the concept makes an impor- ease,“may be particularly active early in the course of Covid-19,antiviral therapy may The term entered widespread use put him away were identified—an down as well as up.Similarly,health tant point.If R is greater than one,as havethegreatestimpactbeforetheillnessprogressesintothehyperinflammatorystate only in the mid-twentieth century,to application of the rule of law. expertsandwell-informedpolicymak- itwas in the earlystages of the pan- that can characterize the later stages of disease".Whethervaccines eventually save the describe the frenzied search for com- The second phrase that pervaded ers had been well aware before 2020 demic and presumably has become dayfortheCovid-19strickenworldornot,thereisnodoubtthatdevelopment/discovery munists “under the bed." Arthur 2020was“black swan."When the new that a pandemic like Covid-19was not again in many places,it means that ofantiviralsandothertherapeuticsisimperative.Indeed,asWHOdirector-generalTedros Miller’s 1953 play about the Salem coronavirus spread beyond China and onlypossible,butlikelytostrikesooner things are getting worse. AdhanomGhebreyesusputit,weneedto“doitall”astheremayneverbeasilverbullet. trials,TheCrucible,wasanallegoryfor suddenlyaffected the health and jobs or later. In too many countries, how- Rcanbebroughtdownviawearing US Senator Joseph McCarthy’s hear- of people around the world, many ever,politicalleadersfailedtoheedthe facemasks,socialdistancing,frequent ings into alleged communist infiltra- described it as a quintessential“black warnings and recommendations.The hand washing, testing, isolation, and tion of the US government. swan”event. worldhaspaiddearlyfortheirmistake. now inoculation with the new Covid- To be sure, the seventeenth-cen- Nassim Nicholas Taleb’s epony- So,this year’s COVID-19 pandemic 19vaccines.When Rfalls belowone,it Bridge the digital gap turywitchtrialsandMcCarthyismdif- mous 2007 book turned black swan wasindeedablackswan.Butthephrase meansthatthepandemicisdyingout, feredinimportantways.Foronething, virtuallyinto a household expression, isperhapsbestdefinednotjustasasud- and that the rate of exponential Devise a comprehensive digital strategy for education communistsreallyexisted.Butthetwo because it appeared to describe the denmajordevelopmentthatcatchesthe growth is negative. historical episodes had one thing in 2007-09 financial crisis so well.Taleb general public by surprise,but as a“tail So, here’s wishing everyone no HE CENTRE AND THE states must be lauded for moving quickly on digi- common that distinguishes them defined the term to mean a major event"--knownbyscientificexpertsand witchestohunt,theswanstheyexpect, tal/delivered-via-broadcast education in the face of the pandemic making from the accusations against Trump. event that nobody realised was even a responsible officials to be a dangerous and an Rwell belowone in 2021. classes-as-usual impossible.However,the latestASERfindings and reports In a genuine witch hunt, the hunters possibility, because they had never possibility(albeitonewithrelativelylow Copyright: Project Syndicate,2020. TbyseveralNGOsshowthatthereisstillawidegapbetweenthedigital‘haves’ startfromthefirmbeliefthatapartic- seen one of its kind before. But the probabilityinanygivenyear). www.project-syndicate.org and‘have-nots'.ASER2020highlightedthataccesstosmartphoneshasalmostdou- bledsinceits2018survey—11%respondenthouseholdspurchasedanewphoneto support children’s education—but also found that only a little over a fifth of the households surveyed could access video/recorded lectures, and just a tenth could access online classes.Anotherreport published byRightTo Education Forum shows LETTERS TO points that the digital divide was wider for girls; only 26% of girls could access swachh mobile phones as against 37% boys.Even access to TV did not translate into access Getting statistics right THE EDITOR to broadcast-mediated learning. In Assam, despite a TV penetration of 46%, only 2% households accessed educational content.A new report released by Sampark Looking forward to a shows that,besides the gap in the delivery of education,teachers feel that mode of Declaration of India as an open-defecation free nation learningisalsoinadequate.Halfoftheteacherssurveyedmarked‘socialplatform’to PAYAL SETH was based solely on access to toilets.The outcome vaccine in 2021 connectwith other teachers and exchange ideas as avital feature for learning apps, We are in a ruminative mood at and 46% responded that a‘question bank’was a key feature to prepare tests/work- measured does not line up with the intent behind the Consultant at Tata-Cornell Institute, Cornell year-end. Inevitably, our thoughts sheets. While two-thirds still favoured classroom teaching, nearly a third wanted University, Ithaca, NY. PhD Scholar at turn to the Covid-19 pandemic and launch of the Swachh Bharat Mission Bennett University learning apps to have a performance dashboard for students. its profound and long-lasting This showsthere isstill alotofworkthatneeds doingbeforethegovernmentcan effects on our lives both collectively claim meaningful progress in digital education.India needs a comprehensive digi- WITHTHE LAUNCHofthefirstphase Ladakh, Meghalaya, and Telangana provides numbers on access to toilets. and individually.There is no coming tal strategy, not mere quick-fixes like sending notes over WhatsApp. The govern- of India’s National Family Health and have registered the highest improve- Whereas, the NFHS-5 data asks the to consciousness without real-life ment—the states and the Centre—needs to draft a plan to ensure that each student Demographic Survey (NFHS-5) in mentsinsanitation(intherangeof20- respondentstolisttheplacewherethe events, situations and experiences. getsaccesstoatabletoralaptop;subsequently,itwillalsoneedtotrainteachersand December,wecanestimatesanitation 25%).Overall,thestateshavereported householdmembersusuallydefecate. During the course of the pandemic, students in using online resources and infrastructure. Post-pandemic, the online coverage improvement under the aremarkableimprovementinaccessto As is mentioned in the NFHS-5 fact- we have become acutely aware of mode of deliverycan provide qualityeducation to those residing in remote areas.If Swachh Bharath Mission (SBM). The sanitation within the past 4-5 years. sheet, the answers that correspond to the precariousness and the government’s plan is towork,then online learning must be made more interac- data also equips us to compare the SBM was successful in achieving its “Flush to piped sewer system,flush to uncertainties of life and our tive. E-books have been available for free on NCERTs website for over a decade, but official SBM statistics and check the objective of enhanced sanitation cov- septictank,flushtopitlatrine,flushto mortality.What is particularly now it needs to invest in interactive tools like question banks and puzzles/games validity of the open defecation free erage in both rural and urban areas. don’t know where, ventilated poignant is that the coronavirus pandemic caused a massive loss of that serve as learning/evaluation aids. Studies indicate that ‘gamification’ leads to (ODF) claim. All the states on the SBM website improved pit (VIP)/biogas latrine, pit The NFHS-4 data collection com- have achieved the ODF status and latrinewithslab,twinpit/composting life. Psychologically, the pandemic betterlearningoutcomes.Butratherthanspendingondenovocreationofmaterial- menced on January 20,2015,ie,2.5 100%accesstotoiletsinallthehouse- toilet,which is not shared with any has proved debilitating and even this will also take years-it needs to engage with start-ups and firms that have per- months after the launch of the SBM. holds. Exploring the extent of the dis- other household”are categorised as devastating for millions across the fectedthismodel.ThelikesofKhanAcademyandByju’sarealreadyprovidinginter- It ended in December 2016.Phase- connect between the official SBM sta- improvedsanitationfacility.TheNFHS world. Economically, the pandemic active services. Not only will this help intensify digitalisation efforts but also will one of the NFHS-5 data collectionwas tisticsandtheNFHS-5data,weseethat does notverifythe presence of toilets, has exacerbated the hardships of bridge the learning gap.The government has been collaborating with start-ups in conducted between June 2019 and except Kerala and Lakshadweep, no sothesestatisticsdonotdenoteaccess impoverished multitudes and the field of health and governance,so why not education. February 2020. SBM concluded on otherstateisclosetoachievinguniver- to a toilet facility.Rather they capture pushed them to live below the October2,2016.Hence,estimates on sal sanitation. It is astounding to note a more precise measure of sanitation subsistence level and struggle to sanitation improvement between the that Ladakh and Bihar,states with the environment—useoffacilities—bythe keep body and soul together. two survey rounds can be largely worstsanitation profile,have 50-60% respondent.Thiscanpartlyexplainthe Droves of migrant workers on their DeliveringNUTRITION attributed to the SBM. less improved sanitation than is disconnect between the two datasets. way back home, the images of Phase 1 of NFHS-5 covered 17 reported under SBM. For other states, The government must incorporate them stamped indelibly on our Delhi does well to start delivery of dry rations in lieu of mid- states and five union territories. thedisconnectrangesbetween5-35%. questions related to both access and memory, illustrated the vulnerable Besides a small decline in Sikkim, the use of toilets in future surveys that position in which the poor found day meals,would do well to look at food coupons as well percentage of households that Explaining the Disconnect intend to capture the open defecation themselves. When the workers reportedusingsanitationfacilitieshas Weneedtobecarefulaboutthesta- behaviourin India. needed the governmental succour IVEN THAT STATES now anticipate the restrictions on school re-opening improved across the 22 states.Andhra tisticsastheyrepresentanswerstodif- Declaration of India as an ODF the most they were abandoned to shall stay for a long time,they are now developing mechanisms to ensure Pradesh, Bihar, Jammu & Kashmir, ferent questions. The SBM website nationwasbasedsolelyonaccesstotoi- their fate and the highways. In the that students get dry rations at home.The Delhi government,which was lets.The outcome measured does not pandemic-stricken 2020, we earlierdisbursingcash-allowancesinlieuofthemid-daymeal,announced line up with the intent behind the adopted safety measures such as G launch of SBM—making India ODF,ie, social distancing, facemask- onTuesdaythatitwilldeliverdryrationstohomesofstudentsinstead.Althoughsome stateshadworkedoutdry-rationsdeliverystrategiesasfarbackasinMarch,Delhiand no Indian resident practices OD and wearing and hand-washing as someothershavebeendebatingcashtransfersversusdryrationsdelivery.Bearinmind, uses the toilets provided under the survival strategies. The pandemic Ladakh Bihar Manipur DD & DNH Bengal W Assam Maharashtra Tripura Gujarat Karnataka J&K Telangana Andhra Himachal Meghalaya Sikkim Nagaland Goa Islands A&N Mizoram Kerala theDelhigovernmentstartedcashtransfersformid-daymealsonlyaftertheDelhiHigh Lakshdweep SBM scheme.The government guide- affected all aspects of life. Science Courtorderedittoensurethatstudentsgottheirentitlements.Themovetodelivering 120 lines also retained behaviour change has enabled us to fight the Covid- SBM 19 pandemic as best as we could. dryrations makes more sense than cash transfers,given the transferis not tied to pur- activities as the core of SBM to bring 100 about a change in the social attitudes The public interest in science can chaseoffoodbythebeneficiary.GivenIndia’srecordonundernutrition—thelatestNFHS of people and distinguished SBM as a be heralded as a significant datashowsthatthesituationisworsening—itisbetterthatstatesproviderations. 80 demand-led sanitation program. consequence of the unprecedented However,kinksinthedeliverymechanismneedtobeworkedout.InSeptember,an NFHS-5 60 Therefore,measuringtheuseoftoilets public health crisis. With the Oxfam report had shown a variation in performance among states.As against 90% will convey the true success of the decline in cases and casualties and childrenreceivingmid-daymealsinChhattisgarh,inUttarPradesh,92%childrenhad 40 deliveryof the SBM programme. the development of vaccines, we been deprived of mid-day meal in any form.Across five states—UP, Bihar, Odisha, Moving the sanitation outcomes can lift our spirits as we step Chhattisgarh and Jharkhand—35% children didn’t receive mid-day meals or cash 20 fromaccesstousemightpushachieving into 2021. transfers.To guard against fraud,Delhi should either choose tied transfers/food — NFHS-4 the ODFtarget a little fartherdown the G David Milton Maruthancode,TN coupons redeemable in the PDS process, or Aadhaar authentication of beneficiaries 0 line,butwillalsorepresentthetruestate fordry-rations delivery. 0 5 10 15 20 25 ofthesanitationenvironmentinIndia. ●Write to us at [email protected]

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Eminent clinical scientist and vaccine related injury, this pays for that child’s expert Dr Gagandeep Kang, who headed medicalcosts.Othernationshavehealth- the committee looking into indigenous care systems that provide universal Covid-19 vaccines and drugs,believes the healthcoverageandservices—ifchildren Oh no,not fight against SARS CoV-2 needs a mix of areinjuredinnorthernEurope,Australia vaccines and antivirals,while the focus and the UK,theywill be looked after. has largely been on vaccines. In an inter- Ifyou’vegottentoastagewhereavac- again—another view with Ishaan Gera, Dr Kang talked cine is no longer part of a public health abouttheneedtoindemnifyvaccinedevel- programme—where it is an individual opers, and how vaccination won’t be a choice to get this vaccine or that—you history lesson route to eradicating the virus.Excerpts: might not need indemnity. But for any- thing that is bought bythe government, Indiahasn’tseenaresurgenceofCovid- the government should indemnify the 19 infections,the second wave some companies.Otherwise,we’renotgoingto countries have seen… have access tovaccines. I think the disease is behaving a little JAMAL differentlyinIndiathaninotherpartsof If vaccine protection, all possible the world. It seems to be behaving simi- immune stimulation considered, is MECKLAI larly in other South Asian countries and short-lived,what,to your mind,would also inAfrica—otherthan SouthAfrica. be the outlook fortheworld? The author is CEO, Mecklai Financial Whyis it behaving differently,I don’t Booster doses. Having looked at vac- really have an explanation. I would be cinesforalongtime,I’msurprisedbythe Follow a systematic process for hedging more comfortable proposing a hypothe- levels of efficacywe’re seeing.That leads sis:Iftherewasavailabilityofbettersero- me to think these aren’t going to be like your risk. Happy New Year survey data from India,we could com- influenzavaccineswhereyouwillneedto bine that with other data sources to try take ashoteveryyear.Butwhetheritwill SWEALLknow,historyneverrepeatsitself;and andunderstandwhyweareinthissitua- wind up being every two years or every I am extremelyfond of saying that the most tion.We know the numbers of tests that five years,we’ll need to wait and see. It’s importantthingaboutyesterdayisthatit’sover. were done and the tests that were posi- feasible we might not need new vaccine Nonetheless,as theyearturns,itwould at least tive.Without serological data,we don’t shotsunlesstheviruschangesalot.ButI be curious to look at what the rupee has done know how many were infected.We do don’t think it’s going to be an annual Aoverthepast15orsoyearstoseeifwecouldcomeupwith— have sero-survey data that ICMR pub- shot,based onwhatwe currentlyknow. heaven forbid—a long-term forecast. lishedattwotime-points,butmyunder- Everyoneisfamiliarwiththestop-startprocessofrupee standing is they excluded containment Howdoyouratethegovernmentstrat- movement as it has fallen from around 39 to the dollar in zones. But when we’ve had surveys in PORTRAIT: SHYAM KUMAR PRASAD egyas of nowas faras immunisation is 2008 to over 73 today.While at a high level the path has areasthathavehadhighincidence,these concerned? remainedmoreorlessthesame,withperiodsofsharprupee have shown infection rates much higher My worry is we’re not involving the weaknessalternatingwithperiodsofstrength,thetempoof than reported by ICMR.Trying to make ● RECORD CAFE: privatesectoratall.AtleastI’mnothear- the process appears to have changed. sense of those numbers probably can ing about the private sector being Since 2014, the periods of strength have been shorter only come from having more granular Dr GAGANDEEP KANG involved.This is entirely being designed (354 days, on average) as compared to the period between sero-survey information. It would be and delivered by the government. It 2006 and 2014 (502 days); correspondingly,the periods of valuableifwecouldunderstandfromthe wouldbenicetoseewhattheirplansare, weakness have been longer—the average since 2014 was test positives,why the tests were done: given that for at least 30% of the popu- 451 days, as compared with Wasthetestdonetoscreencontact,orto lation even preventive services are pro- 364daysearlier.Also,therupee make a diagnosis? Need to vided bythe private sector. has been lessvolatile—average What I would also really like to see is gainswere 6.46 in the recent The rupee has gone HasIndiahadahighlyinfectivevariant, independent monitoring. period, as compared to 7.03; liketheUKone?Haveweseengenomic average losses have been just from around 39 to variations in SARS CoV-2 in India? The health secretary hinted that the 9.36, as compared to a huge the dollar in 2008 Of course,we have.SARS coronavirus invest more in government won’t vaccinate every- 14.09.Giventhattherupeehas to over 73 now evolves all the time—but it’s actually a body… been steadily weakening, the pretty slow virus to evolve compared to I understand the rationale behind percentage moves have other RNAviruses. My understanding is savingdosesandmakingdosesavailable become even smaller. Clearly, that out of 30,000 base-pair genome, to people who need these the most,at thisisatributetoRBI’simprovedinterventionskillsoverthe thereareatleast4,000-plusdocumented antivirals that point in time.But this is not a prob- years and,no doubt,also reflects the lower forward premi- mutations.You can have synonymous lem that is going to go away and it’s not ums as the market has come much closerto interest parity. mutationswhereeventhoughthemuta- liketheviruswillmagicallystopcirculat- Currently, the rupee has strengthened by a little over 3 tionhasoccurred,theaminoacidhasnot ingtheminuteyouget60%ofthepopu- rupees since its last low in April 2020. Eschewing any fun- changed,ornon-synonymousmutations lation infected or vaccinated. I’ve also damentalthinkinginfavourofthebelief(?)thathistorycan thatresultinachangeintheaminoacid. heard the government was thinking provide some pointers to the future, the next cycle for the Now,when we hear about N501Y,it just aboutpotentiallynotvaccinatingpeople rupeewould playout thus (see graphics). means that this is a non-synonymous whohadbeenpreviouslyinfectedorwho Thetargethighisnotmuchdifferentthanmanyanalyst mutationwheretherehasbeenachange haveanantibodytestthatshowstheyare forecasts,except itis projected to comemuchsooner—note in the amino acid and so you expect a antibody positive.But if you don’t know that onlya fool forecasts both a date and a rate,and an even change in the way the protein is likely to howlong infection protectsyou,then on biggerfoolforecaststheseouttothemediumterm.Butthen, function.In this case,it appears manyof whatbasisareyousayingwewillnotvac- foolishness—actually,itsfriendlierbrother,silliness—ismy thesemutationspromotebetterbinding Is eradication of SARS CoV-2 possible cate it.I don’t thinkwe are readyforthat cinate people who have been infected stock in trade.So,paylittle (orno) attention to the numbers to ACE 2 receptor; it results in an ability withvaccines? strategyright now. before?Andifyoulookatthegoalsofcon- aboveandfollowasystematicprocessforhedgingyourrisk. ofthevirustobetransmittedmoreeasily. Withvaccinesalone,Idon’tthinkso.If Theoretically feasible, but it would trolling disease, disease control, disease HappyNewYear! Fromthevirus’spointofview,thereis we really went after any virus, the virus require an incredible amount of testing transmission,reductionisgoingtocome no gain in killing off your host because needstohavecertaincharacteristicsthat and isolation,andvaccines. from vaccinating young people. It’s not Rupee to dollar movement you are not going to be able to move on allowit to be eradicated. going to come from vaccinating the Period of Period of from there unless you’re like an Ebola We were able to eradicate smallpox Why haven’t antivirals received as elderly, who are more likely to stay at Date Spot rise (days) Amount fall (days) Amount virus that can spread from dead people. becauseitwasapurelyhumandisease.It much focus? Can they be used instead homeandinteractless.Vaccinatingthem So,the virus will continue to evolve to didnotspreadinanimals.Ithadnoreser- ofvaccines to control the pandemic? is for preventing severe morbidity and Jul 26, ‘06 46.89 become more and more transmissible. voirswhatsoever.Itwasadiseasethatwas Not‘instead’,but‘along with’.Antivi- mortality; it is not for prevention of Jan 8, ‘08 39.27 531 7.63 The other way viruses can evolve veryvisible andveryidentifiable.When- rals cannot be used for prophylaxis.Vac- transmission. Mar 4, ‘09 51.95 421 12.39 depends on the pressure put on them.If ever a person got smallpox,there was no cines are not going to work 100% of the Thegoalshouldbetovaccinateevery- Jul 27, ‘11 43.99 875 7.96 you were able to treat an infection with question of asymptomatic infection— time. So, if we can come up with better body over time. I think the government Jun 28, ‘12 57.08 337 13.09 antivirals,then the virus might evolve you got it or you didn’t.And there was a treatments,weabsolutelyshould.Ithink shouldoffertopayforalldosesofvaccine. Oct 5, ‘12 51.57 99 5.51 towards antiviral resistance.Similarly,if good vaccine for smallpox.You took one we’veinvestedtoomuchinvaccinesand But we should think if there are people we have a situation where there is a vac- dose and you would never get smallpox. too little in antivirals. Do we really need who can afford it and want to, can they Sep 4, ‘13 68.07 334 16.50 cine thatworks,then theviruswill tryto This combination of four factors led to 200vaccines forcoronavirus? accessvaccinesvia the private sector? May 29, ‘14 59.88 267 8.19 evolve so that the vaccine does not pre- smallpox being something thatwas eas- Feb 29, ‘16 68.71 641 8.83 vent it from getting in. ilyeradicablewithvaccination.Youcould Vaccine manufacturers are asking for Canithappenthatyougetavaccineand Aug 4, ‘17 63.63 522 5.08 If the virus gets into a person who is easily identify people who had the dis- indemnity.Yourthoughts? youloseantibodieswithinsixmonths? Oct 11, ‘18 74.44 433 10.81 immuno-compromised in some way, ease andyou did ringvaccination,which Atthisstage,absolutely.Thereusedto Absolutely yes! With many vaccines, Jul 11, ‘19 68.32 273 6.12 whose immune response is not enough made sure that everybody this person bemanycompaniesinthepastthatmade you will have an initial very powerful Apr 16, ‘20 76.77 280 8.45 to shut the virus down entirely,then the hadcomeincontactwithgotthevaccine vaccines.Whydowehaveonlyfourmajor immune response,and then over time viruscanevolveinanindividual.Withthe so the disease could not spread to any- manufacturers? Because you have to it’lldiedown.Thequestionis,areyoustill Dec 29, ‘20 73.50 258 UKvariant,one of the hypotheses is this bodyanymore. makeenoughmoneyoffyourvaccinesto protectedornot?Formanyvaccines,even If the rupee Next Following mayhavegottenintosomebodywhowas We know SARS CoV-2 causes asymp- protectyourselfincasetherearelawsuits. when antibodies become undetectable, followed... high on Level low on Level immune-compromised in some form, tomatic infections.We know it can go In the US, they have the National Child- peoplecontinuetobeprotected.Wedon’t and replicated in this person for a long into animals and come back from ani- hood Vaccine Injury Act, where they know at the moment how long protec- Avg history since 2006 Jun 16, ‘21 70.02 Jul 30, ‘22 81.75 time.Becausethisperson’simmunesys- mals.Intermsofthinkingthrougherad- charge a small tax on every dose of vac- tion lasts,we don’t know the correlation Avg history since 2014 Apr 5, ‘21 70.31 Jun 30, ‘22 79.67 temwas trying to get rid of thevirus,the ication,itwouldtakeahumongouseffort cinethatissoldwiththeideathatwhenit withantibodylevels.Wewillknowthisin viruswas constantlyevolving. forus to think about being able to eradi- is determined that a child has a vaccine- the future.

2020

HE YEAR 2020 will be remem- and that iswhyit is up on the list. bered for the pandemic; it has The second on the billboard was the beenaracetosurvivesofar.For outro fugue that accompanied the way in India, common parlance has An for 2020: which policies were announced. The changed post March 24, after term ‘atmanirbhar’ spurred patriotism theT Nocturne lockdown announcement. in the month of Mayeven as migrants The grim situation was explained to the struggled to get home. There were a masses,and the lockdown was welcomed The varying notes series of policies that went through five by the entire nation composing the New comprehensive power-point presenta- Delhi concerto (much like Bach’s Bran- tions on five days,with each one having denburg concertos,sans the noise) by the a refresher on the previous day/days collective banging of utensils and, later, policies. The close-to-`20-lakh-crore lighting the traditional diya. A look at the big MADAN relief package was topped up in October The year was not without its top-10 and Novemberwith the second and third compositions in the economic field. things economic in SABNAVIS rounds,to touch `30 lakh crore.It was Atnumber10isthedynamicallegroof the year gone by, literally like the epic series of Star Wars economic forecasts. Growth rate projec- Chief economist, CARE Ratings, and 1,2 and 3. tionsstartedfromalowpositiveinAprilto drawing from music author of ‘Hits & Misses: The Indian ‘Top of the charts’ is the Delhi rondo, a low negative in June,and went through Banking Story’.Views are personal with farmers gathered to protest against a moderate negative in Julyto a high neg- the farm Bills. Everyone is arguing with ativebySeptember(thepeak),andthento theydidwith alacrity. on petrol and diesel,with the former now Centre agreed to borrow and lend to tercomes,can spring be farbehind?” everyone else on this issue,and a fairly a moderate negative in December. At number 7 was the central bank crossingthe`90mark.Giventhattheprice states, and the latter would pay interest AtthethirdplacewastheRBIpaperon pragmatic policy put up by the govern- Whether it will turn positive at the end of andantewheretheMPCfinallysaid,with- including dealer margins is around `30- and service the loan from future cess allowingcorporatestoalsoapplyforbank- ment has now been opposed by nearly theyearis a question everyone is asking. out uttering the words, that it will target 31/litre,thebalancegoestothegovernment flows. It was a case of realpolitik tri- inglicence,whichbroughtoutthesoprano everyone. Did we not say that the mandi Number9was the lilt from the govern- not just inflation but also growth. The as our tank fills up.No wonder these com- umphing over reason. inunison.Wasn’tthisalreadythereintheir systemwas inefficient and added to cost? ment allowing delivery of liquor to our famous words of the ECB,‘do whatever it moditieswillnevercomeunderGST. Dalal Street’s aria is number 4—the books? But, the discussion paper,which Didwenotfeelthatfarmersshouldhavea homes.This happened as the states’coffers takes’,is now a battle cry, and the MPC TheGSTrequiem,atnumber5,wasthe Sensex zoomed, like the use of Zoom for wasnotadecision,butanopinion-seeking right to sell wherever they want? Did we randryandsomeofthemmadeprovisions made it clear that even if inflation is rather acrimonious battle between the meetings across the country.Excited bro- note,stirredoutrageandthesingularvoice notalwaysconcludethatthearhatiyasar e todeliverliquortohomes,thoughitwas‘not beyond 6%, growth will dominate its list Centre and non-NDA states over com- kers were on TV saying that they knew all was that this should not be allowed as exploitative? Did we not agree that con- on the house’as the beverages were taxed ofprioritiesandthestancewillbeaccom- pensation.TheGSTtermsofengagement the time that the country was out of the there was a conflict of interest and that if tractfarmingisanalternativethatonecan multipletimesovertogetthecoinsclinking. modative.Itisnotsurprisingthatthemar- were that any loss suffered by states, dumps and stock prices ratified this feel- businesshousescamein,theywouldchan- choosetocommercialiseagriculture?That RBI’soctavewas8thonthecharts.After ket,leftwithlittletotalkabout,isnowsur- whichhadbeenassuredofcompensation ing.FPIfundsflowedinandmutualfunds nel the funds to themselves. Sounds is what the government has proposed as loweringinterestratesrepeatedly,thecen- mising that the terms of reference of the at the rate of 14% growth per annum, put in money (where else could deposit absurd,buttherearealotoftakersforthis an alternative and provided farmers a tralbankoptedforaliquiditydeluge.Itwas MPCwillchange.Oneforgetsthatthiswas wouldcomefrom thecess.Butwhat hap- holders go with taxable returns of 5- line of thought as several pages in the choice.However,theplankisdifferentnow the atmanirbhar variety of QE where the legislative action on inflation-targeting pens when GST collections of the Centre 5.5%).CorporateprofitsgotliftedinQ2as newspapersandseveralhourofairtimeon as it has been supposed that the govern- uniqueLTROswerebroughtintocomple- and not a Mint Street decision. and states crash and the cess fund has sales plummeted,but that was because TV have been dedicated to debating this mentwilldoawaywithMSPandthesame ment the Operation Twist on the mone- The serenade on oil prices is 6th on the dried up? Just like Hamlet’s conundrum, companies cut back costs, mainly in the issue. Such a statement sounds odd, as corporates (who are going to storm the tary floor as funds kept flowing to banks. billboard.ThefuturespricesintheUSwent it was a case of who would borrow the staff domain,to keep shareholders and though the regulator does not have rules bankingsystemandfundthemselves)will Theresultwasthattherewere noborrow- to the negative region as therewas no stor- funds. Technically, the Centre was right markets satisfied. Now, 50,000 is not far in place for screening the same and every now swallow farmers.There is clearly no ers,andthemoneywentbacktoRBIinthe agecapacity.Pricesrecoveredafterthevirus in insisting initially on not borrowing off (perhaps by March), and the markets fly-by-nightoperatorwouldbeallowedto room for logical arguments when conjec- reverse repo auctions. Finally,the QE was threatabatedandwentbacktothe$40-50 because the promise was to pay from the are already looking at even 60,000 being set up their bank. If corporates are all so ture and speculation are taken to be the rolled back, and banks were given the region.But,thegovernmenttookadvantage fund. If the well went dry, it could be on the radar by Diwali next year.Turning bad, why are banks lending to them? dogmatic truth. option of repaying these LTROs, which and went ahead and kept increasing taxes given only from future flows.Finally,the poet Shelley’s immortal line over,“Ifwin- Clearly,therewasbizarrelogicatplayhere, HappyNewYear!

Pune 8 FINANCIAL EXPRESS WWW.FINANCIALEXPRESS.COM YEAR-END SELF-DRIVING OFFER Elon Musk, CEO Tesla & SpaceX @elonmusk AllTesla cars delivered in the final three International days of the year will get three months of the Full Self-Driving option for free. Delivery & docs must be fully THURSDAY, DECEMBER 31, 2020 complete by midnight Dec 31st.

● GLOBAL COOPERATION US nurse who took Pfizervaccine Harris receives Moderna Vaccine news from Britain,China contracts Covid-19 vaccine dose on camera

REUTERS PRESS TRUSTOFINDIA bolster the push for inoculations December 30 Washington, December 30 ANURSE IN California tested positive for USVICEPRESIDENT-electKamalaHarris The Oxford-AstraZeneca shot is poised to become the world’s dominant form of Covid-19 more than a week after receiv- hasreceivedthefirstdoseoftheModerna inoculation.At $3 to $4 a dose, it is a fraction of the cost of some other vaccines. ing Pfizer’svaccine,anABC News affiliate Covid-19vaccineliveontelevisionaspart reportedonTuesday,butamedicalexpert of efforts to build public trust in the inoc- saidthebodyneedsmoretimetobuildup ulationandurgedAmericanstogetvacci- THE NEWYORK TIMES protection. nated forthevirus. December 30 MatthewW.,45,a nurse at two differ- Harris and her husband Doug Emhoff entlocalhospitals,saidinaFacebookpost were administered the vaccine at United AGLOBALPUSH to accelerate vaccina- on December 18 that he had received the Medical CenterinWashington,DC. tions gathered steam on Wednesday, as Pfizervaccine,tellingtheABCNewsaffili- “Let’s do it,”Harris said before she Britain became the first country to give atethathisarmwassoreforadaybutthat received hershot onTuesday. trationhasgrantedemergencyuseautho- emergency authorisation to the coron- he had suffered no otherside-effects. She took the vaccine one week after risationfortwocoronavirusvaccines:one avirusvaccine developed byAstraZeneca Six days later on Christmas Eve, he President-elect Joe Biden received his. fromPfizer/BioNTechandonefromMod- and the University of Oxford and China became sick after working a shift in the Describing the process as ‘relatively erna.BothModerna’sandthePfizer-BioN- announced that late-stage drug trials Covid-19 unit, the report added. He got painless’,HarrisurgedallAmericanstoget Tech vaccine have shown similar efficacy showed that one of its coronavirus vac- the chills and latercame downwith mus- vaccinated.“It’saboutsavingyourlife,the levels of nearly95 percent,and bothvac- cines was effective.Russia also secured cle aches and fatigue.He went to a drive- lifeofyourfamilymembers,andthelifeof cinesrequiretwodosesadministeredsev- an important outsidevote of confidence uphospitaltestingsiteandtestedpositive yourcommunity,’she said. eralweeks apart. in the safety of its Sputnik V vaccine, for Covid-19 the day after Christmas,the “I trust scientists.And it is the scien- Biden and his wife,Jill Biden,received with the start of mass inoculations in report said. Christian Ramers, an infec- tists who created and approved this vac- theirfirstdosesofthecoronavirusvaccine Belarus and Argentina. tiousdiseasespecialistwithFamilyHealth cine. So I urge everyone,when it is your on December21.Theyreceived the Pfizer Britain’s approval of the Oxford- Centers of San Diego, told the ABC News turn,getvaccinated.” vaccine at ChristianaCare Hospital in AstraZeneca vaccine opens a path for a affiliate that this scenario was not unex- Harris joins a growing number of Newark,Delaware. cheap and easy-to-store shot that much pected.“Weknowfromthevaccineclinical elected officials and doctors who have BidenandHarrisstaggeredtheirvacci- of the world will rely on to help end the trialsthatit’sgoingtotakeabout10to14 received their coronavirus vaccines on nations at the recommendation of med- pandemic.Officials in India are meeting daysforyoutostarttodevelopprotection camera to showAmericans that the shots ical experts, according to transition Wednesday to consider approving the from thevaccine,”Ramers said. are safe.The US Food and Drug Adminis- spokesperson Jen Psaki. vaccine. For Britain,where hospitals are over- whelmed by a new, more contagious con of his model of so-called illiberal MAPPING THE VIRUS variant of thevirus,the regulator’s deci- democracy,on Monday became the first Chinese drugmaker: Argentina, Belarus � sion offered some hope of a reprieve.The member of the European Union to Cases near UK’s mutated coronavirus found for first time in US Vaccine 79.3% health service is preparing to vaccinate start injecting receive a deliveryof the Russianvaccine, � EU to curb UK travellers on Covid at end of Brexit a million people perweek at makeshift though only 6,000 vials.Vaccine doses 82 million transition effective in final tests sites in soccer stadiums and racetracks. Russia’s Sputnik V also arrived in Serbia onWednesday.The � England faces wider lockdown to curb new strain The Oxford-AstraZeneca shot is news from China could pave the way for Deaths at � New Covid-19 strain puts growing pressure on UK ASSOCIATED PRESS poised to become the world’s dominant RUSSIAHAS BEEN battlingwhat it the global rollout of hundreds of mil- hospitals Beijing, December 30 form of inoculation.At $3 to $4 a dose,it dismisses as politically motivated lions of vaccine doses in the coming 1.79 million � Covid death toll to reach 400,000 before Trump is a fraction of the cost of some other doubts about its coronavirus vac- months, but the announcement lacked departs, CDC says ACHINESE DRUGMAKER said Wednes- vaccines. And it can be shipped and cine, Sputnik V.Several countries crucial details. Recoveries � McConnell rebuffs Trump, Democrats by blocking day its coronavirus vaccine was found to stored at normal refrigeration tempera- have taken deliveries, but this The state-controlled firm Sinopharm $2,000 aid cheques be79.3%effectiveatpreventinginfection tures for six months,rather than in the week Belarus and Argentina said that avaccine candidate made byits 54,808,970 in preliminary data from the final round ultracold freezers required bythe Pfizer- became the first to start injecting Beijing Institute of Biological Products of testing,moving Beijing closerto possi- BioNTech and Moderna vaccines, mak- it on a large scale. Sputnik V has arm had proved to be 79 percent effec- Germany’s new coronavirus deaths surpassed blybeing able to fulfil its pledge to supply ing it easier to administer to people in been dogged by criticism since tive in interim Phase 3 trials.Sinopharm 1,000 for the first time since the pandemic otherdeveloping countries. poorer and hard-to-reach areas. President Vladimir V. Putin said it had asked Chinese regulators to started, with 1,122 new fatalities in the 24 The announcement by a unit of state- When given in two, full-strength announced inAugust that thevac- allow the vaccine to be used broadly. hours through Wednesday morning. The owned Sinopharm gave the first official previous high was 986 recorded on Dec. 23. doses,AstraZeneca’s vaccine showed 62 cinewas readyforuse even though If supported,the results would bol- data from a Chinese vaccine’s late-stage percent efficacy in clinical trials - con- clinical trials had not been com- ster officials’claims that Chinese vac- A 20-something man from Colorado is the first trial. Its reported effectiveness rate is — American known to be infected with a new siderablylowerthan the roughly95 per- pleted. NYT cines are safe and effective. Even with- variant of coronavirus that emerged this fall in behind Pfizer’svaccine at 95% and Mod- cent efficacy achieved by Pfizer and out the government’s approval, the the UK, raising concern that a more erna’s at 94%. Scientists have cautioned Moderna’s shots. For reasons scientists authorities have already moved ahead transmissible strain could spread widely across coronavirusvaccinesmayonlybeaboutas don’tyet understand,AstraZeneca’svac- ing to its Russian backers. with mass vaccinations, defying indus- the country. effective as flu vaccines,which generally cine showed 90 percent efficacy in a A voluntary vaccination programme trynorms.Theyplan tovaccinate 50 mil- A surge in the number of Covid-19 patients in rise at the current pace, its medical system are 50% effective. smaller group of volunteers who were using Sputnik V began in Russia this lion people in China by mid-February,in the UK risks overwhelming the country’s faces the risk of collapse. The comments from Sinopharm is one of at least five Chi- given a half-strength initial dose. month,but a recent survey found that time for the Lunar NewYear holiday. hospitals as a new and more transmissible the vice chair of the Tokyo Medical Association nesedevelopersthatareinaglobalraceto strain infects the population at a record pace. Large-scale clinical trials of Russian only 38 percent of Russians intended to But Sinopharm’s announcement, came as the capital recorded 944 cases, just create vaccines for the disease that has Sputnik V carried out since August have get thevaccine.Belarus,the first country only a few sentences long, provided no Police in Switzerland are investigating 12 British shy of a record. killedmorethan1.7millionpeople.More tourists who left despite being told to shown the vaccine, developed by the outside Russia to start inoculating its breakdown of results and left many Taiwan says it will tighten its border control than 1 million health care workers and quarantine to avoid spreading a new variant of after confirming the first imported case with a Gamaleya National Research Institute of citizens with Sputnik V,is a stalwart ally questions unanswered, adding to a lack the virus. virus variant found in the UK. The government others in China have received vaccines Epidemiology and Microbiology,to be of Moscow. Hungary, whose leader,Vik- of claritythat has dogged China’s coron- Tokyo warned that if infections continue to will ban foreigners without residence permits. being developed by Sinopharm and more than 91 percent effective, accord- torOrban,has pointed to Russia as a bea- avirus vaccine development. anothersupplier,Sinovac. Quick Samsung heir faces nine years Qatar ruler invited to Apple loses lawsuit against attend summit that View in jail as bribery trial wraps may ease Gulf rift US security bug startup BLOOMBERG BLOOMBERG Biden picks first December 30 December 30 REUTERS woman to serve as SOUTH KOREAN PROSECUTORS QATAR’SRULERRECEIVEDaninvitation AFEDERALJUDGE in Florida onTuesday requested a nine-year prison term for from Saudi Arabia’s king to attend next dismissedApple’scopyrightinfringement deputy defence secy Samsung Electronics’s Jay Y.Lee, seeking month’s Gulf Cooperation Council sum- claims against a Florida startup whose to put the heir apparent back in jail in a mit,whichmayhelptoeaseadisputethat software helps security researchers find PRESIDENT-ELECTJOEBidenpicked bribery case that rocked the nation and shattered regional unity and set back US vulnerabilities in Apple products includ- KathleenHicks,aformerObama ignitedabacklashagainstitsmostpower- efforts to isolate Iran. ing the iPhone. administrationPentagonofficial,to ful conglomerates. GCCSecretaryGeneralNayefFalahAl- US District Judge Rodney Smith ruled serveasthefirstfemaledeputydefence Special prosecutors proposed the sen- started four years ago and led to his Hajraf delivered the invitation to Sheikh infavourofCorellium,sayingitssoftware secretary,accordingtohistransition tence during a Wednesday hearing at the imprisonment and the ouster of former Tamim bin Hamad Al Thani for the sum- emulating the iOS operating system that duct otheroperations. office.Hicks,whoheadsBiden’s Seoul High Court,whichwill make its rul- PresidentParkGeun-hye.Theoutcomeof mit on January 5, according to a state- runsontheiPhoneandiPadamountedto “Corellium’s profit motivation does transitionteamforthePentagon,is ing on the billionaire’s fate January 18. the case could snarl succession at Sam- ment. “fairuse”becauseitwas“transformative” notundermineitsfairusedefense,partic- directoroftheInternationalSecurity “There’s no denying that it has made a lot sung, just as Lee is expected to formally It didn’t specify whether the ruler andhelpeddevelopersfindsecurityflaws. ularlyconsideringthepublicbenefitofthe ProgrammeattheCenterforStrategic ofpositive impactonoursociety,”accord- take the helm of the mobile and electron- accepted the invitation. AppleaccusedCorelliumofessentially product,”Smithwrote. andInternationalStudies,aresearch ing to a transcript of closing arguments ics giant afterthe death of his fatherin The summit is seen as possible a step replicating iOS to create “virtual” iOS- The judge also rejected Apple’s argu- group.Sheservedasdeputyunder from prosecutors, referring to Samsung. October.The executive stands accused of in resolving a crisis that erupted in mid- operated devices,whose “sole function” ment that the DelrayBeach startup acted secretaryofdefenceforStrategy,Plans “But just because there’s been an eco- making gifts to cement his control over 2017when SaudiArabia,the UnitedArab wastorununauthorisedcopiesofthesys- in bad faith by selling its product indis- andForcesfrom2009-12andas nomic contribution, there should be no theworld’slargestsmartphonemakerand Emirates, Bahrain and Egypt severed tem on non-Apple hardware. criminately,includingpotentiallytohack- principaldeputyundersecretaryof hesitation in legal enforcement based on smoothhisascension.Leeservedayearin trade, travel and diplomatic ties with But the Fort Lauderdale-based judge ers, and by not requiring users to report defenceforpolicyfrom2012-13. the rule of law.” jail before his release in 2018 afteran ini- Qatar. said Corellium “adds something new to bugs toApple. The 52-year-old billionaire is fighting tial five-year prison term was halved and There have been US-backed attempts iOS”byletting users see and halt running Apple did not immediatelyrespond to US Congress inches closer allegationsofgraftinaretrialofacasethat suspended byan appeals court. to end the dispute. processes, take live snapshots, and con- requests forcomment. toTrumpveto override THE US SENATE was due on Wednesday to hold a procedural vote Argentina legalises abortion, that could pave the way for Congress Thailand approves use of herbal to override President Donald Trump’s veto of a key defence bill,as first in conservative region tension between the outgoing Republican president and party medicine for Covid-19 treatment REUTERS leaders grows. Buenos Aires, December 30 BLOOMBERG Thegovernmenthasalsobannedlarge Iran to use moneyfrom December 30 gatherings in high-risk areas, said ARGENTINA’S SENATE VOTED on Iraq gas sales for vaccines Taweesilp Witsanuyotin, a spokesperson Wednesdayto legalise abortion,a first for THAILAND’S HEALTH MINISTRY forthenationalCovid-19responsecentre. a big country in Latin America and a tri- IRANWILLUSE moneyfrom its approved the use of a herbal plant extract The herbal treatment will be on a vol- umph for women’s rights campaigners energyexports to Iraq to buy to treat early stages of Covid-19 as a pilot untary basis for those in the 18-60 age achievedoverthevisceralobjectionofthe coronavirusvaccines from Europe, programamidaflareupinthecoronavirus group with minor symptoms and should Catholic Church. Iranian EnergyMinisterReza outbreak in the SoutheastAsian nation. be within 72 hours of confirming infec- Abortion is extremely rare in a region Ardakanian said.He made the Andrographis Paniculata, commonly tions. where the Church has held cultural and statement following avisit to known as green chiretta,will serve as an The extract from the plant, known as political sway for centuries. Previously,it Baghdad afterIran reduced natural alternativetreatmenttoreducethesever- Fah Talai Jone in Thai, can curb virus and was allowed on demand only in Commu- gas supplies to Iraq overunpaid bills. ity of the outbreak and cut treatment reduceseverityofinflammation,ministry nistCuba,tinyUruguayandpartsofMex- thebilleruptedincheersoutsidetheSen- costs, the ministry said in a statement says citing studies. ico. ate building in Buenos Aires,waving the China sentences HK Wednesday. The extract from the plant, known Human trials showed patient condi- The fiercelycontentiousvotewas held green flags that represented their cam- activists to 3-year jail The treatment will be available in five as Fah Talai Jone in Thai, can curb tions improved within three days of the at 4.00 am after a marathon debate that paign.Greensmokeroseinthedawnlight state-owned hospital initially,it said. virus and reduce severity of treatmentwithoutsideeffectsifthemed- lasted through the night. In a vote of 38- above the crowd. ACHINESE COURTsentenced 10 Thailand reported 250 new cases on inflammation, ministry says citing icine is administered within 72 hours of 29withoneabstention,theSenatebacked “This has been a struggle for many Hong Kong activists to between Wednesday,taking the nation’s total to testing positive. the government proposal to allow termi- years,manywomen died.Neveragainwill seven months and threeyears in jail studies. Human trials showed almost 7,000, and a government official patient conditions improved within Separately,ThaiFoodandDrugAdmin- nations through the 14th week of preg- there be a woman killed in a clandestine onWednesdayforillegallycrossing said the rate of increase in local transmis- istration said it’s ready to register Covid- nancy. The lower house had already abortion,”saidVilma Ibarra,the authorof the border,in a case that has drawn sions was alarming and urged people to three days of the treatment 19vaccines. FDAhasopenedspecialchan- approved it this month. the law and legal and technical secretary international attention and concern stay at home to prevent the virus from without side effects. nel for the registration to ensure speedy As the result was read out, a crowd of forthe presidency,whowept as she spoke overthe defendants’treatment. spreading further. process. thousands of people who had supported to reporters afterthe result.

Pune 9 FINANCIAL EXPRESS WWW.FINANCIALEXPRESS.COM

TECH IN FAST LANE

Anku Jain, MD, Mediatek India

The pandemic has acted as a great catalyst ❝expediting digitalisation and faster adoption of ❝ transformative technologies such as AI, AIoT, GadgetsTHURSDAY, DECEMBER 31, 2020 robotics and cloud computing, among others. Best gadgets of the pandemic year

ANUJ BHATIAAND Magic keyboard byApple NANDAGOPALRAJAN ● BESTTRULYWIRELESS EARPHONES The newMagic Keyboard forthe iPad Pro and iPadAirimpresses,not HEYEAR 2020 has been like because it is the most useful accessory none otherbefore.As the LypertekTevi earphones became an important one can buy,but simplydue to the fact Covid-19 pandemic took its With millions of peopleworking part of manylives.While therewere that it transformsyourtablet close to a Tgrip on everycountry, from homewith no avenues for manygood options across price laptop.The full-sized keyboard gadgets became thewayfor entertainment,the trulywireless points,the LypertekTevi stood out magneticallyattached toyouriPad, people to connectwith the rest of the forits audio qualitydespite its and its adjustable world,continueworking and stay affordable price tag.TheTevi had a angles,allowsyou relevant in the changing economic stylish designwith fabric finish, to adjust the scenario.Aftera fewmonths inwhich touch panels on the earpods and a tablet to a made.The Mi Notebook 14 e-Learning most companies lost theiraccess to GoPro Hero 9 Black verynatural sounding audio comfortable Edition delivered good performance at customers thanks to stringent When GoPro released the Hero 9 Black, profile. viewing angle. a decent price. lockdowns,the pent-up demand by itwas dismissed asyet anotheraction Not to forget people trying to upgrade theirdevices camera.But people,especiallycontent forthe newrequirements ofwork from creators andVloggers,soon became ● BESTTELEVISION home resulted in an unprecedented convincedwith the GoPro Hero 9.It spurt in sales of everything from maylook identical to its predecessor, smartphones to affordable laptops and but the presence of a forward-facing SonyBravia personal audio devices. colourLCD screen transforms the Hero 55X9000H the Magic keyboard also comeswith a 9 into a tool forcontent creation.So built-in trackpad,which is nearly nowit is easyto seewhatyou are Therewere somevery comparable towhatyou get on a shootingwhen framing selfie-style good televisions MacBook.Sure the Magic Keyboard shots.But GoPro didn’t stop there.The through theyear, isn’t cheap butApple does make an Hero 9 Black has betterbatterylife,is from experts like effort in making a tablet closest waterproof up to 33 feet,can shoot 5K Samsung and even to a laptop. videowith 20MPstills,has an ultra- upstarts like OnePlus, wide detachable lens option,and the but the best one in action camera can be used as awebcam. mybookswas the All of these features make the GoPro SonyBravia Hero 9 Black the go-to action camera 55X9000H.This premium model planning to buythe PS5,and the forcontent creators,enthusiasts aswell from Bravia offers a stunning software that offers a superb as adventurers.Despite its heftyprice of screen that can go up to 120Hz experience that puts it a notch iPadAir2020 `49,500,the GoPro Hero 9 impresses. making it a great option forthose above the rest. The iPadAirchanged the flowof the iPad series in away.The iPadAirversion of 2020,powered bytheA14 Bionic processor,made it in awaythe most powerful tablet on offerfromApple.The magic keyboard folio helped the iPad Air2020 bridge the gapwith a full- fledged computerand theApple Pencil made it a good option forcreative users. iPhone 12 mini ThisyearApple surprised everyone by launching the iPhone 12 mini.The small form factorof the iPhone 12 mini will be appreciated bythosewho thought the iPhones had become too big.Priced at `69,900,the iPhone 12 OnePlus Nord mini does exactlylook the same as the OnePlus broke awayfrom its set iPhone 12 but its 5.4-inch screen makes schedule of smartphone launches by this iPhone almost invisible in the that gives it the powerto take on high- coming upwith a more affordable pocket.But don’t call the iPhone 12 end photo andvideo editing if needed. device in the middle of theyear.The mini“cheap”.It is a flagship iPhonewith TheApple MacBookAirhas just become Nord sub-brand has made a good debut just a smallerform factor.Soyou are not more relevant to a lot more users. with a smartphone that ticks all the missing on features such as the new screen going fordays.Although a mid- right boxes and emerges as a flagship in MagSafe charging,Face ID and Samsung GalaxyS20 FE range smartphone,the GalaxyM51 had the `25,000 range.It has averygood improved dual cameras.The iPhone 12 iPhone 12 Pro Max THE FLAGSHIPSMARTPHONE market managed to strike the right balance of camera,good displayand a processor mini has its market,andApple should The best phone of theyearwaswithout got a newcontenderthisyearin the build quality,performance,and camera. that can do most taskswell. be credited fortaking a risk and doubt the iPhone 12 Pro Max,taking form of the GalaxyS20 FE (Fan Edition). Yes,the GalaxyM51 followed avery bringing back the compact flagship both processing powerand camera It had all the ingredients of being the tried-and-tested formula but the end back to the market.You can’t gowrong capabilities to awhole different level. coolest smartphone in its price range resultwas a phone that mattered to a with the iPhone 12 mini. With the newsoftware tweaks and the and even challenged the OnePlus 8 and lot of people. added LiDarscanner,theApple flagship HomePod mini is nowa phone the killerflagship that Google Pixel 4a ShureAonic 50 The arrival of HomePod miniwas has left the flagship killers farbehind. The Google Pixel 4awas farfrom being Theyearpresented an interesting array expected butApple shocked consumers the perfect smartphone but it did help ofverycapable headphones.But the with the audio qualitycoming from the the Pixel brand be farmore accessible in most impressive in ourbookswas the tinyspeaker.The HomePod mini can get India.Knowing Google can’t compete ShureAonic 50,a brand that is not that reallyloudwithout muddling sound with the Chinese smartphonevendors, well known in India but is popular quality,and that makesApple’s `9,900 the companyfocused on its core among the professionals. speakers fairlydecent.Although many competencies.The Pixel 4a’s camera, The audio profile of the would argue that theAmazon 4th-gen even though a single one,waswayabove earphonewas betterthat Echo orthe Google NestAudiowould be the competition.Google’s expertise in whatwe had heard most of theyear bettersmart speakers,the fact remains image processing in softwareworked and it also has a style quotient that puts that the HomePod mini is designed to wonders forthe Pixel 4a.Sure,the Pixel DellXPS 13 it at a notch above the rest. work bestwith theApple ecosystem.Siri 4a didn’t have the high-refresh rate IftherewasonepremiumWindows has become betterovertheyears and it’s screen orthe fastest processor. notebookthattrulyshinedin2020,then Canon EOS R5 just a matterof time before thevoice- However,whatworked in favourof the ithastobetheDellXPS13.Dellonce 2020was certainlyan oddyearto be based digital assistant becomes as Pixel 4awas the compact size and a againimprovedtheformulaofultrathin- investing in cameras,given that there responsive and polished as theAlexa or smallerprice tag. and-lightweightnotebook,anddelivered wasn’t much to shoot inside ourhomes GoogleAssistant.Where the HomePod adevicethatemergedasthetop-of-the- aftera point.But the Canon EOS R5 mini reallytriumphs the competition is linelaptop.Thedesign,build,look, stood out fortaking professional grade in the audio department and it display,andthekeyboardofthelaptop photographyto mirrorless cameras shouldn’t be taken lightly. weregreat.Ithadplentyofpowerfor with 8Kvideo recording a host of top of otherphones.What made the Galaxy doingeverythingonecouldexpectfroma the line features.Canon is finallytaking AppleWatch Series 6 S20 FE familiaryet so distinctivewas compact13-inchnotebook. on the challenge from Sonyin the TheAppleWatch Series 6 has onlygot thewayitwas positioned.Like other professional spacewith a camera that betterin the fewmonths since its phones in the GalaxyS20 range,the FE Mi Notebook 14 packs a punch. launch.But given the pandemic fears had a 120Hz display,a top-notch we are all strugglingwith,thewatch camera system,large capacity e-learning Edition added the abilityto read blood 4500mAh battery,IP68 dust/water The Mi Notebook 4 e-Learning oxygen and then topped it upwith resistance and the latest Exynos Edition surprised us forits sheer cardio fitness measurement processor.Even though it lacked a value and more than that,the capabilities.The smartwatch from premium glass back,itwas nevertheless performance it managed to deliver. Apple is nowa completewellness awell-made smartphone. The affordable laptop had a lot of device. things right such as a Full HD 14- Samsung GalaxyM51 inch displaywith slim bezels all Apple MacBookAirM1 Samsung’s GalaxyM51wasn’t its top- around,all-metal design,a fantastic TheApple MacBookAirwas always a of-the-line Galaxysmartphone,but keyboard and long batterylife. much loved laptop,especiallyforthose despite that,the phone delivered a lot of Aimed at students,thiswas a on the move.Now,the MacBookAirhas value.It had a massive 7000mAh Windows machine that redefined the powerofApple’s all newM1 silicon, batterythat kept its gigantic 6.7-inch howentry-level laptops should be ● SPECIAL MENTIONS

Amazfit Blip U distant dream,the Samsung Q800T with housework is coming more this laptop a favourite forthosewho TheAmazfit Blip Uwas among the soundbaremerged as a great option relevant,the Milagrowsuite of home have to be on the movewith their manysmartwatches launched in with DolbyAtmos and a superb music cleaning robots are becoming work. 2020 at averyaffordable price point. playback. popular.While there are many In fact,at `3,499,smartwatches such models,the iMap 10.0was special as the Bip U make the smartband MilagrowiMap 10.0 because it had some intelligence segment look out of place.The thin At a timewhen anything that helps built in and could also mop the Bip U is convenient towear,has good flooraftervacuuming it. batterylife and measures everything from sleep to stress,making it avery LGs Gram 17 relevant device forthe pandemicyear. One of the most innovative devices of theyearhad to be the Samsung Q800T LG Gram,offering a large screen In 2020,with the cinemas shut, forwork,a stunning 17-inch peoplewere making the best of their displayand full-fledged home entertainment options.As keyboard—all at aweight of people started investing in better just 1.35 kg.Theweight of audio forthe television,given how the device,orthe lack of it, return to movie theatres seems like a has the potential to make

Pune 10 FINANCIAL EXPRESS WWW.FINANCIALEXPRESS.COM

FLATGROWTH

G Murlidhar, MD & CEO, Kotak Mahindra Life

This has been an unprecedented year.The industry ❝is likely to remain flattish. However, we will stay ❝ Markets ahead of the industry. In the first half our additional THURSDAY, DECEMBER 31, 2020 premium had grown by 16%.

● Money Matters 5TH DAY GAIN Private banks taking G-SEC Rupee gains 11p to hit over away share from PSBs Benchmark yield fell 0.018% due to buying support 5.908 two-month high of 73.35 in rural credit: RBI 5.869 Share of bank groups in rural lending Brexit deal and coronavirus vaccine, said (Inverted scale) In the last five trading `/$ RahulGupta,headofResearch-Currency, (Share in %) PSB FB RRBs PVBs 100 sessions, the Indian 73.00 EmkayGlobal Financial Services. 90 73.30 73.30 “Withtheviablevaccine’sabilitytobattle December 18 December 30 currency has gained 80 even the transmissiblevariant of thevirus, 70 53 paise 73.50 theworries of furtherlockdowns has been 60 50 `/$ eased. So what happens to Indian rupee 40 largelydependsonhowthemajoreconomies 30 The rupee ended higher 0.169% PRESS TRUST OF INDIA 74.00 controlsthevirusin2021,”Guptasaid. 20 on strong local equities Mumbai, December 30 According to Sriram Iyer, senior 10 and fund inflows research analyst at Reliance Securities, 0 74.50 Mar ‘12 Mar ‘13 Mar ‘14 Mar ‘15 Mar ‘16 Mar ‘17 Mar ‘18 Mar ‘19 Mar ‘20 RISINGFORTHEfifthstraightsession,the “the Indian rupee continued to trade Note: IDBI Bank has been categorised as private sector bank with effect from January 21, 2019. Hence, from Inverted scale 73.30 rupee on Wednesday appreciated by 11 higheragainsttheUScurrencyamiddollar March 2019 onwards IDBI Bank is excluded from public sector banks group and included in private sector banks group. paise to close at more than two-month 75.00 sellingbyforeignbanksandabroaduptick Source: Quarterly statistics on deposits and credit of scheduled commercial banks, RBI 73.57 high of 73.31 against the US dollaron the Oct 14, ‘20 Dec 30, ‘20 inAsian currencies”. back of foreign fund inflows and a weak greenback in the global markets. FE BUREAU than 2,000. At the interbank forex market, the Markets at new high on vaccine hopes Mumbai, December 30 Private banks are also taking away December 18 December 30 domesticunitopenedat73.35againstthe share from PSBs in othersegments.While USdollarandwitnessedanintra-dayhigh INDIANEQUITIESRECOVEREDsmartly RURAL CREDITGROWTH gathered PSBsdominatebanklendingtonon-bank- of 73.26 and a lowof 73.36. onWednesdayandendedthetradingses- Sensex steam in FY20 and surpassed growth in ing financial companies (NBFCs), their C=/$ Thelocalunitfinallysettledat73.31,reg- sion with minor gains.The benchmark 50,000 47,746.22 other categories after a gap of four years. sharehasdeclinedsinceMarch2020,with istering a rise of 11 paise over its previous Nifty rose by 49.35 points (0.35%) to 41,306.02 Private banks have begun to gain share in the space vacated being taken up by the The euro rose against 0.189% close.Therupeehadlastclosedatthislevelon close at 13,981.95 whereas the Sensex 45,000 this segment even as public sector banks’ private banks. the dollar October13.OnTuesday,therupeehadsettled roseby133.14points(0.28%)tocloseat (PSB) footprint reduces,the Reserve Bank “In line with the increasing share of at73.42againsttheAmericancurrency. 47,746.22.Themarketsralliedafterthey 40,000 ofIndia(RBI)saidinitsreportonthetrend PVBsinbankingassets,theirshareinoper- In the last five trading sessions, the anticipated the approval of the Oxford- and progress fortheyear. ating profits also increased to 43.4% in 1.2272 35,000 1.2257 Indian rupee has gained 53 paise. AstraZeneca Covid-19 vaccine in India. Although the share of rural credit in 2019-20 at the cost of PSBs,”the RBI said, Meanwhile, the dollar index, which Indian markets ended the dayat record 30,000 aggregate credit has been hovering adding that the gap between net interest gaugesthegreenback’sstrengthagainsta highsonceagain. between8-9%,itstilldidbetterthanother margins(NIMs)ofPVBsandPSBsenlarged basket of six currencies, fell 0.21% to The markets in the first half of the 25,000 categoriesin2019-20.“Whiletheshareof astheformermanagedtolendatcompar- 89.80. “Indian rupee appreciated on trading session were under pressure PSBs in rural credit has gradually fallen, atively higher rates while reducing their December 18 December 30 weakerdollarindexandsustainedforeign after the Reserve Bank of India (RBI) 20,000 PVBs have been making inroads,” the deposit rates. fundinflows.Rupeewasalsosupportedby raisedconcernsoverassetqualityinthe Jan 1, ‘20 Dec 30, ‘20 report said. At the same time,the growth slow- theotherAsiancurrencieswhichstrength- banks. Additionally, profit-taking by The central bank said that the new down has not spared the private banking ened on back year-end fund flows,”said investors also kept the stock prices sub- bring betterdays in the comingyear.” branch authorisation policy of 2017 — pack. Describing them as “the engine of Devarsh Vakil, deputy head of Retail dued.Themarketsrosesharplyinthelast Foreign portfolio investors (FPIs) which recognises business correspon- credit growth during the last few years”, Research,HDFC Securities. hour of the trading session onWednes- bought stocks worth $6.5 billion till dents (BCs) that provide banking services the report stated that in a reversal dur- Quick Vakilfurthersaidthattheprospectofa dayasinvestorscheeredtheapprovalof December29,whichisthesecondhigh- for a minimum of four hours per day and ing FY20, however, their loan growth global recovery in 2021 buoyed risky the Oxford-AstraZeneca Covid-19 vac- est after November.The futures and foratleastfivedaysaweekasbankingout- decelerated across sectors.“Lending to assets and emerging market currencies. cine in the UK and in anticipation that options segment sawa turnoverworth lets — coupledwith emphasis on digitisa- industry and agriculture sector by PVBs View “Looking at the weakness in dollar thesamewouldtakeplaceinIndia. `30.8lakhcrorewhereas,thecashmar- tion and modernisation of technological and PSBs also slowed down or declined,” indexandforeignfundinflowsintoIndian Siddhartha Khemka, head - retail ket saw a turnover worth `51,362.52 infrastructure has progressively obviated it said. equitymarkets,therupeeisexpectedtogo research, Motilal Oswal Financial Ser- crore. This is against the six month the need to set up brick and mortar Theaggressivecreditgrowthofprivate back to August lows of 72.75 in the next vices,said,“Overallpositivesentiments average of `21.7 lakh crore in the branches.Ashasbeenobservedforthelast banks in the services and retail segments fewsessions,”Vakil noted. continueonthe backofthefreshstim- futures and options segment aswell as few years, including during FY20 also, inthelastfewyears—whichsurpassedthe Union Bank gets nod Afterapandemicravagedyear,therisk ulus announced,Brexit deal and hopes `59,316 crore in the cash market branchexpansioninruralareasremained 30%markinFY19—camedownsharply, sentiments are ending 2020 on a positive thattheongoingvaccinerolloutwould segment.—FE BUREAU subdued as the BC model made further even as PSBs managed to hold on to mar- to raise up to `6,800 cr note on the back of US fiscal stimulus, inroads in villages with population more ket shares in the retail segment. SHAREHOLDERS OF Union Bank of India onWednesdayapproved the bank’s proposal forraising up to `6,800 crore equitycapital to fund Yes Bank elevates ANALYST CORNER business growth.During the Wadhawan sends fresh ExtraordinaryGeneral Meeting Banodkar as CFO, (EGM),the shareholders passed the Adlakha as HR head United Breweries: FV special resolutionwith the requisite proposal to DHFL lenders majorityforraising capital through PRESS TRUST OF INDIA FPO/Rights orQIPorpreferential ANKUR MISHRA The erstwhile promoter has offered Mumbai, December 30 raised to `1,260 allotment,the bank said. Mumbai, December 30 to repay 100% principal amount and of the total `91,158 cr, YES BANK, WHICH was rescued by the KOTAK INSTITUTIONAL EQUITIES per unit ofalcohol, migration ofwhite- Bullionvault services THE ERSTWHILE PROMOTER of Dewan Wadhawan has promised to pay ReserveBankinMarchafterahugerun-on, collarworkforce, students from metros Housing Finance Corporation (DHFL) on Wednesday promoted two key senior BEER VOLUME RECOVERY is tracking to smaller towns impacted beer start at GIFTCity KapilWadhawanhaswrittenafreshletter `9,000 cr upfront managementpersonnelasthechieffinan- well with opening of on-trade; we consumption.We expect sharp recovery BULLIONVAULTINGserviceshave to Reserve Bank of India (RBI) governor cialofficerandheadofhumanresources. expect return of growth in the next 1-2 in beervolumes aswe continue to move commencedatGIFTCitywithSequel Shaktikanta Das and DHFL’s administra- The bank, now majority-owned by quarters as normalcy restores. Several towards normalcy in lifestyle/ Logisticslaunchingprecious tor offering to repay 100% principal toservice`31,000crore debtin 7years at State Bank of India,has promoted Niran- states have rolled back Covid taxes to environment. Our checks suggest commoditiesvaultforstorageofgold amount to all the creditors.In his revised 8.5% per annum.Apart from that,he has jan Banodkar as the group chief financial support recovery in Alcobev volumes; continued month-on-month andsilverinthecountry’sonly proposal of `91,158 crore for the credi- offered to repay `12,000 crore within a officer(CFO) and Anurag Adlakha as the it remains to be seen if states focus on improvement in beer demandwith InternationalFinancialServices tors,Wadhawan has promised to make an periodof7yearsat11.5%perannum,fol- group chief human resources officer. the optimal tax regime going forward opening ofon-trade channel (from 70% Centre(IFSC).GIFTCityonWednesday upfront payment of `9,000 crore. lowing a one-year moratorium.The plan In an exchange filing, Yes Bank said with an objective to drive growth in recovery in September to 80-85% saidSequelLogisticshasbegun Wadhawanhaswrittenaletteratatime alsoincludesrepaymentof`18,000crore theseappointmentswereapprovedbythe industry volumes as well as tax recovery in Oct and Nov).We have preciouscommoditiesvaultservicesat when lenders are set to begin voting this in 5 years at 11% per annum,following a board, on the recommendation of the collection. Two key states are increased our FY2022/23Evolumes to GujaratInternationalFinanceTecCity week on the bids of Oaktree Capital,Pira- 5-year moratorium.While `5,000 crore nomination and remuneration commit- contemplating a structured online 187/211 m cases from 173/189 m cases. (GIFTCity)inGandhinagar.“Sequel’s malCapitalandHousingFinance(PCHFL), willbeconvertedtoequity,`16,158crore tee and also of the audit committee. sales model. Cost savings along with It remains to be seen if key states FreeTrade&WarehousingZonesvault andAdani Properties. will be converted into zero coupon bonds New HR head replaces Deodutta soft RM prices augur well. We expect focus on optimal taxation regime going forpreciouscommoditiesatGIFTCity The letter says,“I earnestly request the as perthe proposal. Kurane,whowillberetiringfromthebank UBBL’s new CEO to step up focus on forward with an objective to maximize willhelpinprovidingaseamless, RBI to place my proposal, through the DHFLhas been undergoing insolvency soon,itsaidaddingboththeappointments market share defence in value industry and the state’s tax revenues as comprehensiveandefficientstorage administrator,tothecommitteeofcreditors proceedings at National CompanyLawTri- willbeeffectiveJanuary1.Banodkarisalso segment and gain share in the against excessive tax increases over the andlogisticssolutiontoallthemarket (CoC) for its immediate consideration and bunal (NCLT),Mumbai since December 3, designated as a key managerial personnel premium segment. We raise estimates past few years. Further,we gather that participants,bothinIndiaand formyproposaltobevoteduponalongwith 2019.The lender has admitted claims of authorised fordetermining materialityof and FV to `1,260. home-delivery/online sales may overseas,”SequelLogisticschairman thebidssubmittedbytheotherbidders.” `87,120crore.StateBankofIndia(SBI)isthe aneventorinformationformakingdisclo- Beerwas one ofthe most impacted continue beyond Covid at least in a few andMDSharadJobanputrasaid. Inhisproposal,Wadhawanhasoffered leadcreditorwithclaimsof`10,083crore. surestostockexchanges,itadded. consumption categories amid the Covid states— Maharashtra andWB are crisis due to high on-trade salience and contemplating structured direct-to- high urban salience; both these home sales. Covid compelled UBBLto segmentswere severely hit, some loss of cut costs aggressively; some of these share to spirits as consumption moved costs savings may sustain even as ‘Indian shares could see inflows of $15-20 bn next year’ in-house; consumers avoided cold volumes normalize. RM prices have URVASHI VALECHA remain buoyant in the first quarter of CY products (chilled beer) during the softened with modest inflation in glass Mumbai, December 30 2021 thanks to the continuing momen- pandemic and opted for spirts.Also, bottles and deflationary trends in tum around the developments regarding spirits offer bettervalue in terms ofcost barley. IF 2020 WAS a rollercoaster ride for the Covid-19 vaccine. Kotak Securities investors, the New Year may be no differ- expects that the FPIs would continue ent.Anyreversal in liquiditycould trigger pumpingcapitalintoIndianequitiesinthe a sharp reversal in the markets. Market first half of 2021. The brokerage said, Auto fuel marketing margins strategists anticipate that the recovery in “There could be some disappointment the economy that is expected to play out comingfromtheQ4FY21numbersandin nextyearwill give a boost to the equity thesecondhalfwecouldexpectsomewith- to slip below `1/L;Add on IOC markets along with the upgrades in cor- drawal of accommodative monetary pol- porate earnings. icy from central banks.”But,according to ICICI SECURITIES not fully passed on: Auto fuel net Capital flows,which have driven mar- HDFC Securities,going ahead the Emerg- marketing margin is at `4.03/l in FY21- kets to record highs in 2020, are likely to lihood,wouldmirrortheyear2003froma earningswould be the main driverof mar- ing Markets (EM) are going to do better in IN NOVEMBER 2020, petroleum product TD, `3.12/l in Q3FY21-TD and `1.89/l sustain in 2021. Experts believe that market standpoint.”The market will also ket upside going forward. Neelkanth 2021 and to that extent,India being part consumptionwas down 3.7%YoY.Diesel on 29-Dec’20. However, the rise in Indiansharescouldseeinflowstothetune draw strength from a benign crude and Mishra,co-headequitystrategy,AsiaPacific oftheEMpackwouldalsobenefit. consumption too fell 6.9%YoYduring international auto fuel prices not being of $15-20 billion next year that can push commodity environment, government- and India equity strategist, said,“We do Themidcapandsmallcapindiceshave the same month and 5%YoYin 1-15 fully passed on to consumers is likely to valuationsevenhigher.HDFCSecuritiesis backed mega manufacturing push in expect that there can be upgrades to FY22 outperformed the gains made by the December ’20, but petrolwas up 5.1% lead to net margin declining to `0.8/l oftheviewthatgloballiquiditycouldkeep India, lower taxation regime and global andFY23EPSso,ahighsingle-digittoalow benchmarks in 2020. The Nifty Mid- YoYin November and 9.5%YoYin 1-15 (based on prices in 16-29 Dec) on 1- pushing the valuations higher and as a players looking foralternative to China. double-digitincrease(inmarkets)issome- cap100 and Nifty Smallcap100 index December.Refinery utilisation surged to Jan’21 and `0.65/l (at latest prices) on result investors should make allocations With the run up seen this year,Indian thingthatIwouldanticipateinCY2021.” gained 21.3% and 18.47% compared to 101% in Nov’20vs 87% in Oct’20with 16-Jan’21. Retail price hikes of `2/l are to equities keeping in mind a sudden and stocks are only a short distance awayfrom Indian markets have also been one of 12.9% of the Nifty from the start of the MoM output rise being 2.5mmtwhile required for net margins to remain sharp reversal. being the most expensive they have ever the most favoured emerging markets yeartillDecembertodate.Expertsbelieve consumptionwas flat MoM.This meant above `2/l. Rise in international oil and With less than 2% of India’s GDP been.AccordingtoHDFCSecurities,the50- when it comes to equity foreign portfolio thatin2021too,themidcapandsmallcap rise in product inventory.Diesel product prices will also lead to underconstraintbecauseoftheCovid-19 stock index (Nifty) is currentlytrading at a inflows.Despitetheoutflowof$8.3billion stockswill continue to remain in favourif inventorywas up by 0.2mmt MoM as inventory gains in Q3FY21E. We pandemic in December and earlier than one-yearforwardprice-to-earningsmulti- in March, the Indian markets have since thelowinterestrateenvironmentcontin- production surplus exceeded exports. estimate product inventory gain at expectedrecoveryoftheIndianeconomy, ple of 27 times compared with its 10-year the start of theyeartill December17 seen ues. HDFC Securities, said,“Data shows a The oil price surge from end-Oct’20 `14.6bn and crude inventory gain at markets have rallied from March lows. average of 17.3 times.Even if Nifty’s FY22 inflowsworth$21.1billion.Thishascome highcorrelationbetweenreporateandthe lows has hit both GRMs and auto fuel $0.8/bbl for IOC in Q3FY21E. Strategists expect the theme of economic and FY23 earnings per share forecasts do in the backdrop of clarity emerging over ratio of mid cap index to Nifty 50, again net marketing margins (may fall to We estimate IOC’s Q3FY21-TD GRM recovery in 2021 to continue to play out, not change,the price earnings would have theCovid-19vaccineandthediminishing suggesting a likelihood of outperfor- below `1/l in Jan’21). However, it at $1.1/bbl including crude inventory thanks to the certaintyaround the Covid- stillnotrevertedtopre-Covid-19levels.This uncertainty over the outcome of the US manceovertheNiftyinthecomingyearif would lead to large inventory gains, gain of $0.8 bbl. Consumption and 19 vaccine emerging. Amar Ambani, meansthatifNifty’sFY2022andFY2023 elections.The momentum, according to interest rates continue to remain low.” which would mean strong earnings exports not keeping pace with surge senior president and head - institutional earnings per share stay unchanged,price- Kotak Securities, is expected to continue Investors usually invest in midcap and growth for IOC even in Q3FY21E. We in production meant rise in inventory. research,YesSecurities,said,“All-in-all,we earnings in December 2021 will be the going forwardwith the markets projected smallcap stocks in anticipation of higher reiterate ‘add’ on IOC given its cheap Refinery utilisation at 101% in Nov’20 is believe the marketwill run up ahead of same as in January 2020, Credit Suisse to receive flows worth $15 billion to $20 returns, given their potential to report valuation and high dividend. Auto fuel the highest in FY21-TD, which meant and in anticipation of an ensuing eco- pointedoutinitsoutlook2021report.The billion for the next calendar year.Experts increased profitability and gains in mar- net marketing margins to slip below production was up 2.5mmt MoM. nomic recovery.Theyear2021,in all like- foreign investment bank adds that the have said that themarketsare expectedto ket share. `1/l in Jan’21 as international price rise However, consumption was flat MoM.

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IIFL ASSET MANAGEMENT LTD. Regd. Of�ice: IIFL Centre, 6th Floor, Kamala City, Senapati Bapat Marg, Lower Parel, Mumbai 400013 CIN: U74900MH2010PLC201113 | www.ii�lmf.com NOTICE CUM ADDENDUM TO THE SCHEME INFORMATION DOCUMENT (SID), KEY INFORMATION MEMORANDUM (KIM) OF SCHEMES OF IIFL MUTUAL FUND (No.11 /2020) UNIFORMITY IN APPLICABILITY OF NET ASSET VALUE (NAV) ACROSS VARIOUS SCHEMES UPON REALIZATIONOF FUNDS Pursuant to SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020, with effect from January 1, 2021 (“Effective Date”) in respect of IIFL Focused Equity Fund (An open-ended equity scheme investing in maximum 30 multicap stocks) and IIFL Dynamic Bond Fund (An open ended dynamic debt scheme investing across duration) ('Scheme(s)') for purchase application (including switch-in) received within cut-off time on a Business Day, irrespective of the amount, the closing Net Asset Value (NAV) of the day on which the funds are available for utilization shall be applicable. It may be noted that the existing provisions on NAV applicability for IIFL Liquid Fund and cut-off timings for Schemes remain unchanged. Accordingly,the existing provisions for applicability of NAV for Purchases / Switch-in for the Schemes shall stand replaced with the followingfrom the Effective Date: ApplicableNAVfor Subscriptions / Switch-ins (irrespective of application amount): 1. In respect of valid applications received upto 3.00 p.m on a Business Day at the of�icial point(s) of acceptance and funds for the entire amount of subscription/purchase (including switch ins) as per the application are credited to the bank account of the respective Scheme before the cut-off time i.e., available for utilization before the cut-off time - the closing NAV of the day shall be applicable. 2. In respect of valid applications received after 3.00 p.m on a Business Day at the of�icial point(s) of acceptance and funds for the entire amount of subscription/purchase (including switch ins) as per the application are credited to the bank account of the respective Scheme before the cut-off time of the next Business Day i.e., available for utilization before the cut-off time of the next Business Day - the closing NAV of the next Business Day shall be applicable. 3. Irrespective of the time of receipt of application at the of�icial point(s) of acceptance, where funds for the entire amount of subscription/purchase as per the application are credited to the bank account of the respective Scheme before the cut-off time on any subsequent Business Day - i.e., available for utilization before the cut-off time on any subsequent Business Day - the closing NAV of such subsequent Business Day shall be applicable. 4. The aforesaid provisions shall also apply to systematic transactions i.e., Systematic Investment Plan (SIP), Systematic Transfer Plan (STP). This notice-cum-addendum forms an integral part of the SID and KIM of the schemes of IIFL Mutual Fund. All other terms and conditions of the SID and KIM of the schemes of IIFL Mutual Fund will remain unchanged. For IIFL Asset Management Ltd. Place : Mumbai Sd/- Date : December 30, 2020 Authorised Signatory “Mutual Fund investments are subject to market risks, read all scheme related documents carefully”

TM

HERITAGE FOODS LIMITED (AN ISO 22000 COMPANY) CIN: L15209TG1992PLC014332 Regd. Office: # 6-3-541/C, Panjagutta, Hyderabad-500082, Telangana, India Tel: +91-40-23391221/2, Fax: +91-40-23318090 E-mail: [email protected], Visit us at: www.heritagefoods.in NOTICE OF BOARD MEETING NOTICE is hereby given that pursuant to Regulations 29, 33 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, meeting of the Board of Directors of the Company is scheduled to be held on Friday, 29th January, 2021, at the Registered Office of the Company at Hyderabad, inter-alia to transact the following business apart from the other items as per the agenda: ✫ ToConsider and approve the Un-Audited Financial Results (Standalone & Consolidated) for the Quarter and Nine months ended 31st December, 2020 ✫ Limited Review Report of the Statutory Auditors of the Company on the Un-Audited Financial Results (Standalone & Consolidated) for the Quarter and Nine months ended 31st December, 2020 Notice for Closure of Trading Window: Further, as per the Company's Code of Conduct for prevention of Insider Trading formed under SEBI (Prohibition of Insider Trading) Regulations, 2015 (as amended), the Trading Window for dealing in the equity shares of the Company by Designated persons and their relatives shall remain close from 1st January, 2021 till the end of 48 (Forty-Eight) hours after declaration of the Unaudited Financial Results of the Company for the Quarter and Nine months ended 31st December, 2020 (both days inclusive). The notice of the said Board Meeting is also available on the website of the Company at www.heritagefoods.in as well as on the website of National Stock Exchange of India Limited at www.nseindia.com and BSE Limited at www.bseindia.com For Heritage Foods Limited Sd/- Umakanta Barik Place: Hyderabad Company Secretary & Compliance Officer Date : 30.12.2020 M. No: FCS-6317

Motilal Oswal Asset Management Company Limited Registered & Corporate Of�ce : 10th Floor, Motilal Oswal Tower, Rahimtullah Sayani Road, Opposite Parel ST Depot, Prabhadevi, Mumbai - 400 025 ● Toll Free No.: +91 8108622222, +91 22 40548002● Email : [email protected] ● CIN No.: U67120MH2008PLC188186 ● Website: www.motilaloswalmf.com and www.mostshares.com Notice cum Addendum to the Scheme Information Document (SID) and Key Information Memorandum (KIM) of the Schemes of Motilal Oswal Mutual Fund (MOMF) Pursuant to SEBI Circular No. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020, the notice is hereby given that in respect of purchase (including switch-in) of units in the Schemes of Motilal Oswal Mutual Fund (MOMF) except Motilal Oswal Liquid Fund (MOFLF), the closing NAV of the Business day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application with effect from January 1, 2021 (Effective Date). It may be noted that the existing provision on NAV applicability for MOFLF and cut-off timings for all schemes shall remain unchanged. Accordingly, the existing provisions for applicability of NAV for Purchases / Switch-in for all Schemes of MOMF except MOFLF shall stand replaced with the following under the heading “Cut off timing for subscriptions / redemptions / switches” from the Effective Date. For Purchases including switch-ins of any amount: i. In respect of valid applications received by 3.00 p.m. on a Business Day and where the funds for the entire amount of subscription / purchase / switch-ins as per the application are credited to the bank account of the Scheme before the cut-off time i.e. available for utilization before the cut-off time- the closing NAV of the day shall be applicable. ii. In respect of valid applications received after 3.00 p.m. on a Business Day and where the funds for the entire amount of subscription / purchase as per the application are credited to the bank account of the Scheme before the cut-off time of the next Business Day i.e. available for utilization before the cut-off time of the next Business Day - the closing NAV of the next Business Day shall be applicable. iii. In respect of valid applications with an outstation cheques or demand drafts not payable at par at the Of�cial Points of Acceptance where the application is received, the closing NAV of day on which the cheque or demand draft is credited shall be applicable. iv. In respect of valid applications, the time of receipt of applications or the funds for the entire amount are available for utilization, whichever is later, will be used to determine the applicability of NAV. In case of other facilities like Systematic Investment Plan (SIP), Systematic Transfer Plan (STP), etc., the NAV of the day on which the funds are available for utilization by the Target Scheme shall be considered irrespective of the installment date. It may be noted that the cut off timings for Redemptions / Switch–out remain unchanged. Note: For purchase / switch in application received on December 31, 2020 after cut-off timings for less than Rs.2 Lakhs, the NAV shall be allotted as per above revised rule i.e based on availability of fund for utilization. Thus, for E.g. if funds are credited to the scheme after cut off timings on January 1, 2021, the applicable NAV shall be of January 04, 2021. The Trustee reserves the right to change / modify the aforesaid requirements at a later date in line with SEBI directives from time to time. All other terms & conditions of the aforesaid Schemes of MOMF shall remain unchanged. This addendum shall form an integral part of the Scheme Information Documents / Key Information Memorandum of the aforesaid Schemes of MOMF as amended from time to time. For Motilal Oswal Asset Management Company Limited (Investment Manager for Motilal Oswal Mutual Fund) Sd/- Place : Mumbai Navin Agarwal Date : December 30, 2020 Managing Director & Chief Executive Of�cer M�T�AL F�ND IN�ESTMENTS ARE S��JECT TO MARKET RISKS, READ ALL SC�EME RELATED DOC�MENTS CAREF�LL�.

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Online exit ● INTERVIEW: HEMANT KANORIA, chairman, Traders see cash tightening option for NPS Srei Infrastructure Finance subscribers ‘RBI audit will soon quell all PENSION FUND REGULATOR to drive bond playbook PFRDAonWednesday said the subscribers can now use the unnecessary speculation’ onlinemodealsotoexitfromthe SUBHADIP SIRCAR incomeatIDFCAssetManage- NationalPensionSystem(NPS). AstheReserveBankofIndiaiscon- our loans,we will be in a posi- December 30 Wide spread ment. However, it may stay Under the current process, ducting a special audit in Srei tion to recover our loans over a Spread between overnight rate and 10-year yield remains wide higherthantheaverageseenin the NPS subscribers have to Infrastructure Finance and its periodoftime. INDIA’S SOVEREIGN BOND 6.50 10-year bond yield (%) the past fewyears with mone- physicallyapproachtheirPoints subsidiary Srei Equipment investors are converging on a 6.00 5.88 tary policy remaining accom- of Presence (POPs) to complete Finance,chairmanHemantKano- As per the NCLT order, meet- trade idea for 2021. They’re 5.50 modative and bond supply theirwithdrawalrequestprocess riasays thespecialauditwillsoon ings of creditors were sched- betting that short-term yields staying high,he said. andthetaskisperformedoffline, concludeandwillquellall“unnec- uledinDecemberforthepur- 5.00 would rebound as the central Even as the RBI expects the itsaidinastatement. essary speculation”.In an inter- pose of their consideration, bank soaks up excess cash on 4.50 nationtoexitarecessionincur- Thesubscribersarerequired view with Mithun Dasgupta, and if thought fit,approving signsofaneconomicrecovery. 4.00 rent quarter, economic risks to submit the NPS withdrawal Kanoria claims that Srei will be the slump exchange.What is 3.45 RBL Bank and Quantum 3.50 FBIL overnight rate (%) remain as India is still the sec- forms along with other sup- abletoserviceallitscreditorsinan the status now? Asset Management are among Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ond-mostaffectednationbythe porting documents for autho- orderlymanner.Editedexcerpts: themoney.TheNBFCmodelhas Unfortunately, because of those forecasting that liquidity 2020 coronavirusaftertheUSHigher rization by POPs, the Pension allowedusthatflexibilityinthe the Covid and the lockdowns tightening bythe Reserve Bank Source: Bloomberg spendingcouldalsoaddtodebt Fund Regulatoryand Develop- The Reserve Bank of India is past.Under extant guidelines, there was a huge disruption in ofIndiawillleadshort-endrates supplypressure,makingitchal- mentAuthority(PFRDA)said. conducting a special audit in there is closer alignment with gettingapprovalsfromsomeof torisefasterthanthelong-end— in Mumbai.“The longer seg- short-term rates and threat- lengingtodrainexcesscash. “Now in addition to the Srei Infrastructure Finance banking regulations and given the banks.It is our misfortune bear-flatteningtheyieldcurve. ment may continue to get ened to stoke inflation. “Liquidity won’t be taken existingofflineprocessasmen- anditssubsidiarySreiEquip- the macro environment, we thatthepandemic affectedthe “Short-end rates, of up to RBI’s support from open mar- Nomura expects the central back in a hurry,”Anand Bagri, tioned above, the subscribers mentFinance.Isn'titunusual have been progressivelyreduc- implementation of slump three years maturity, are cur- ket operation purchases and bank to start doing so as early head of domestic markets at shallalsohaveanonlineoption for the regulator to conduct ing our infrastructure loan exchange. While we had rently priced aggressively due operation twists.” as the second quarterof 2021. RBLBanksaidinarecentinter- to submit the withdrawal doc- such an audit? book.Thefocusisnowonbuild- received approvals from our to excess liquidity and thus There’sgrowingconsensus Thespreadbetweenthe10- view. “Once liquidity with- uments and authorizing their The RBI conducts various ing the co-lending driven lead banks,shareholders,bond carrymaximumriskofarever- amongtradersthattheRBIwill year yield and the secured drawalstarts,wemayseeshort- withdrawal request by using inspections/auditsfromtimeto equipmentfinancingbusiness. holders and othercreditors,we sal,”said Pankaj Pathak,fixed- have to start draining excess overnight rates may gradually end rates moving up by 40-45 OTP/e-signtomaketheprocess time in entities under its regu- Our strong OEM (Original couldnotenvisagetheoutbreak income fund manager at cashfromthebankingsystem, narrow, according to Suyash basispointswithabearflatten- seamless in a paperless man- lations. The regulator has EquipmentManufacturer)rela- of Covid-19.However,we hope Quantum Asset Management as abundant liquidity crashed Choudhary, head of fixed ingbias.” —BLOOMBERG ner,”itsaid.—PTI recentlydirectedNBFCstoalign tionships,around100,000cus- tofindanacceptablesolutionin themselveswiththenormsthat tomer base and long standing conjunction with our creditors govern banks,in certain areas institutionalpartnershipswith in the best interest of all stake- like provisioning. We have capital providers is the ideal holders.The meeting of credi- Maha to give an extra push for raisin,jaggery exports startedadheringtotheseregu- platform to tap the impending torsonDecember23,2020did lations and are currentlyin the growth in the CME (construc- nottakeplaceintheabsenceof FE BUREAU acoordinationmeetingofvar- Maharashtra accounts for were exported from the coun- attemptisbeingmadetobring process of changing our busi- tion and mining equipment) thechairmanappointedbythe Pune, December 30 ious stakeholders including nearly 75-80% of the try with Sri Lanka being the farmer producer companies nessmodel.Thistransitionwill segments. The impact of the NCLT.The matters will go back processors, exporters, suppli- country’s raisin biggest buyer at some 51,210 and exporters together and nothappenovernight.TheUSP pandemic and other macro tothetribunalandwewillcom- THE GOVERNMENT OF ers, farmers to chalk out an tonnes. Raisin exports on the also address issues related to thatwehadwastheflexibilityof challengescannotlastforever. municate their decision as and Maharashtra is planning to action plan to encourage production and exported otherhandremainedsubdued residues in the commodity,he NBFCs in the financing struc- whentheorderispassed. giveanextrapushtoraisinand exports of these two com- 23,720.90 tonne of raisins at 24,668 tonne in 2019-20. said.A similar effort is being ture.Butsinceregulationshave What is the repayment per- jaggeryexportsfromthestate. modities from the state. in 2019-20 The Middle East and made in Kolhapur that houses evolved, we are transitioning formance of your borrowers? What is Srei’s consolidated Thisispartofthestategovern- Maharashtra accounts for Europe are main markets for majorityofjaggeryproduction intothepresentguidelines.Srei Are you witnessing improve- borrowings? And what is the ment's initiative, which was nearly 75-80% of the coun- raisins from the state and, units,he said. hasandwillalwayscomplywith ments in collections?What is repayment plan? jointlyplannedwithAPEDA,to try’s raisin production and tonne in 2018-19, senior therefore, APEDA has been India is the world’s largest the regulatory guidelines pre- youroutlookonassetquality? Asofnow,Sreihasaconsol- set up over18 clusters in the exported 23,720.90 tonne of MSAMB officials said. Kolha- holding meetings with stake- producer of jaggery account- scribed by the banking regula- The outbreak of Covid-19 idateddebtofaround`20,000 state for the export of chemi- raisinsin2019-20.Raisinpro- pur is a major jaggery produc- holdersinSangli,amajorraisin ing for 60% of the global out- tor.The special audit will soon has created an unprecedented crore from Indian banks and cal-residue-free vegetables duction in the state had gone tion centre in the state with production centre in Maha- put with Uttar Pradesh and conclude and will quell all situation.Paymentsofourbor- around`10,000crorethrough and fruits. The Maharashtra up to about 2.10 lakh tonne in nearly 1250 jaggery produc- rashtra, Prashant Waghmare, Maharashtra being the top unnecessaryspeculation. rowershavebeenstuckwiththe bondsandfromotherfinancial State Agriculture Marketing 2019-20 from an average tionunits.In2019-20,around assistant general manager, producing states. India governmentagenciesandarbi- institutions.In last 31 years, Board (MSAMB) had called for annualproductionof1.80lakh 341,155 tonnes of jaggery APEDA,westernregionsaid.An accounted for 8.17 million You have decided to exit the trationawardsremainingunre- the company has paid more tonneofglobalgurproduction infrastructure project solved due to the intermittent than`30,000croreinterestto of 13.6 million tonne.Today finance and has been focus- operations of courts.Since our banks and around `20,000 jaggery from Kolhapur are ing on growing the equip- customers are primarily from crore as principal, always on being exported in great quan- ment finance portfolio, pri- the construction and mining time.The pandemic has made tities to Europe, Middle East marily through co-lending space,most of them have been thingscomplicatedasmanyof Asia,and parts of South East arrangements. How resilient impacted bythe lockdown and ourborrowers’cashflowshave Asia,he said. is this business model in this movementofmigrantworkers. beenimpactedandmanyarbi- The EU,Japan,the US,Aus- challenging environment? Morethanhalfofourborrowers tration awards have remained traliaandmanyotheradvanced Our model has been to have requested for one-time unresolved. The collaterals/ economiesarewaryofinvasive finance against assets/pro- restructuringoftheirloans.Our securities against our loans, species of insects and jects/securities,whicharemon- priority is to accelerate collec- together with our receivables, pathogens, which may come itoredonacontinuousbasis,so tions and monetise various are sufficient to repay all our withagricultureproduces.They thatiftheneedarises,ourteams arbitrationawards.Despitethe liabilitiesinanorderlyfashion. also have low tolerance to cer- can step in to address the challenges,weexpectthatgiven We are certain that we will be tainagrochemicalresidue. underlying issues and recover the underlying assets against abletoserviceallourcreditors. IFSCA permits banking units to transfer assets through participation pacts PRESS TRUST OF INDIA New Delhi, December 30

THEINTERNATIONALFINAN- CIAL Services Centres Authority (IFSCA) on Wednesday allowed Banking Units (BUs) to transfer assets to/from other financial institutions, persons resident in India and persons resident out- side India through any interna- tionally recognised standard risk participation agreement. The above dispensation is expectedtoencourageriskpartic- ipation of foreign currencyassets through BUs in IFSC instead of banks in foreign jurisdictions, IFSCAsaid in a statement. The first IFSC in the country has been set up at the Gujarat International Finance Tec-City (GIFT) in Gandhinagar. Transfer of assets through the risk participation agreement route is a common practice in many jurisdictions especially in the field of trade finance,it said. “Such risk participation is undertakenasabilateralcontract underastandarddocumentcalled a risk participation agreement between the two institutions (buyingandsellingentity).Oneof thecommonstandardriskpartic- ipation agreement is the Master Risk Participation Agreement (MRPA) developed bythe Bankers AssociationforFinanceandTrade (BAFT),”it said.

Sebi orders attachment of accounts of KKDIL

MARKETS REGULATOR SEBI has ordered attachment of bank accounts as well as share and mutual fund holdings of KKDIL Nidhi Ltd and some individuals to recover dues totalling over `35 lakh.Therecoveryproceedingshave been initiated against the entities aftertheyfailed to repayinvestors' moneyasdirectedbytheSecurities andExchangeBoardofIndia(Sebi) inOctober2016.—PTI

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RAMCO INDUSTRIES LIMITED Reg. Office : 47, P.S.K. Nagar, Rajapalaiyam – 626 108 (Tamil Nadu) YES Asset Management (India) Limited CIN L26943TN1965PLC005297 Registered Office: 602B, 6th Floor, ONE International Center 1&2, Senapati Bapat Website : www.ramcoindltd.com email ID : [email protected] Marg, Elphinstone Road (West), Mumbai 400 013. Website: www.yesamc.in Tel. No.: +91(22)40827600 Fax no.: +91 (22) 40827653 NOTICE Email: [email protected] CIN- U65990MH2017PLC294178 Pursuant to Regulation 47(1)(a) of SEBI (Listing Obligations and NOTICE-CUM-ADDENDUM NO. 40/2020 Disclosure Requirements) Regulations, 2015, Notice is hereby given NOTICE-CUM-ADDENDUM TO SCHEME INFORMATION DOCUMENT (SID)/ KEY INFORMATION that a Meeting of the Board of Directors of the Company will be held on MEMORANDUM (KIM) OF ALL SCHEMES OF YES MUTUAL FUND (“YMF”) Tuesday the 2nd February, 2021, to consider inter alia the unaudited Notice hereby given that, as per the provision of SEBI Circular no. SEBI / HO / IMD / DF2 / CIR /P /2020 / 175 dated Standalone and Consolidated Financial Results of the Company for the September 17, 2020, Investors are requested to note the revised provisions for applicability of NAV, with effect from Quarter and Nine months ending 31st December, 2020. January 01, 2021: This Notice is also available on the Company’s website at Applicable NAV for Subscriptions/ Switch-ins (irrespective of application amount) for YES Ultra Short TermFund: www.ramcoindltd.com and on the website of the Stock Exchanges • In respect of valid purchase applications received upto 3.00 p.m on a Business Day at the official point(s) of where the shares of the Company are listed at www.bseindia.com and acceptance and funds for the entire amount of subscription/purchase (including switch ins) as per the application www.nseindia.com are credited/realized in the bank account of the respective Scheme before the cut-off time, the closing NAV of that For RAMCO INDUSTRIES LIMITED business day shall be applicable. Both, purchase application time stamp and the realization of funds must happen Chennai S. BALAMURUGASUNDARAM on the same business day before the cut off time for the NAV applicability of same business day. 31.12.2020 COMPANY SECRETARY & LEGAL HEAD • The aforesaid provisions shall also apply to systematic transactions i.e Systematic Investment Plan (SIP), Systematic Transfer Plan (STP). Investor/ unitholders are further requested to note that, the existing provision on NAV applicability for liquid and overnight funds and cut-off timings for all schemes shall remain unchanged. All the other condition mentioned in SIDs of all the Scheme(s) shall remain unchanged. This addendum shall form an integral part of the SIDs/KIMs of the all schemes of YMF as amended from time to time. For YES Asset Management (India) Limited Place: Mumbai (Investment Manager for YES Mutual Fund) Date: December 30, 2020 Sd/- Authorised Signatory

Nippon Life India Asset Management Limited (Formerly known as Reliance Nippon Life Asset Management Limited) (CIN - L65910MH1995PLC220793) Registered O�ce: 4th Floor, Tower A, Peninsula Business Park, Ganapatrao Kadam Marg, Lower Parel (W), Mumbai - 400 013. Tel No. +91 022 6808 7000 • Fax No. +91 022 6808 7097 • mf.nipponindiaim.com NOTICE NO. 96 Record Date DIVIDEND DECLARATION January 0 5, 2021 Notice is hereby given that the Trustee of Nippon India Mutual Fund (“NIMF”) has approved declaration of dividend on the face value of Rs. 10/- per unit in the undernoted scheme of NIMF, with January 05, 2021 as the record date: Dividend NAV as on December Name of the Scheme(s) (` per unit)* 29, 2020 (` per unit) Nippon India Interval Fund - Quarterly Interval Fund - 10.0658 Series I - Dividend Option 0.0001 Nippon India Interval Fund - Quarterly Interval Fund - 10.0660 Series I - Institutional Plan - Dividend Option *Income distribution will be done/dividend will be paid, net of tax deducted at source, as applicable. Pursuant to payment of dividend, the NAV of the Scheme will fall to the extent of payout, and statutory levy, if any. *The dividend payout will be to the extent of above mentioned dividend per unit or the di�erence of NAV from the last Speci�ed Transaction Date (Ex. NAV) to the Record Date mentioned above, whichever is higher. However, the payout will be subject to the available distributable surplus in the Scheme as on the Record date. The speci�ed Transaction period for Nippon India Interval Fund - Quarterly Interval Fund - Series I is on 4th and 5th January 2021 (both business days). The following shall be applicable for application received during the speci�ed transaction period. For Subscriptions including Switch-ins under Dividend Option In respect of valid applications for subscriptions received up to 3.00 p.m. on the aforesaid Record Date, the Ex-Dividend NAV of the day on which application is received shall be applicable subject to realization of funds before cut o� time. The investors will not be eligible for dividend declared, if any, on the aforesaid Record Date. In respect of valid applications received after 3.00 p.m. on the second day of the Speci�ed Transaction Period the closing NAV of the next working day shall be applicable subject to realization of funds, provided such a day is/has been declared as a Speci�ed Transaction day for the fund. Otherwise, the application will be liable for rejection. As per SEBI circular SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020, with e�ect from January 01, 2021, in respect of purchase of units of mutual fund schemes (except liquid and overnight schemes), closing NAV of the day shall be applicable on which the funds are available for utilization irrespective of the size and time of receipt of such application subject to cut-o� timing provisions. With regard to Unit holders who have opted for Dividend Reinvestment facility, the dividend due will be reinvested by allotting Units for the Income distribution/ Dividend amount at the prevailing Ex-Dividend NAV per Unit on the record date. For Redemptions including Switch-out under Dividend Option In respect of valid applications received up to 3.00 p.m. by the Mutual Fund, on the aforesaid Record Date the Ex-Dividend NAV of the date of receipt of application shall be applicable and the investors will be eligible for the dividend declared on the aforesaid Record Date. For units in demat form : Dividend will be paid to those Unitholders/Bene�cial Owners whose names appear in the statement of bene�cial owners maintained by the Depositories under dividend plan/option of the Scheme as on record date. All unit holders under the dividend plan/option of the above mentioned scheme, whose names appear on the register of unit holders on the aforesaid record date, will be entitled to receive the dividend. For Nippon Life India Asset Management Limited (Formerly known as Reliance Nippon Life Asset Management Limited) (Asset Management Company for Nippon India Mutual Fund) Mumbai Sd/- December 30, 2020 Authorised Signatory Make even idle money work! Invest in Mutual Funds

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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''IMPORTANT''

Whilst care is taken prior to acceptance of advertising copy,it is not possibletoverify its contents. The Indian Express (P) Limited cannot be held responsible for such contents, nor for any loss or damage incurred as a result of transactions with companies, associations or individuals advertising in its newspapers or Publications. We therefore recommend that readers make necessary inquiries before sending any monies or entering into any agreements with advertisers or otherwise acting on an advertisement in any manner whatsoever.

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Maha govt stable,attempts to bring it down won’t succeed: Pawar Cannot accept anyunilateral change of LAC: Rajnath PRESS TRUST OF INDIA accept anyunilateral change of nityandself-respect. PRESS TRUST OF INDIA eray-ledMahaVikasAghadidis- theThackeray-ledMVAgovern- and itwill continue,"he said. partners.BJPandShivSenahad New Delhi, December 30 theLineofActualControl(LAC), The minister said there was New Delhi, December 30 pensation is stable and it will ment assumed office)... they The MVAgovernment com- contested the 2019 assembly andhopedtheLadakhdeadlock apossibilityofmoretalksatthe continuetorulethestate. (BJP) were to bring down the prising of Shiv Sena, NCP and pollstogether,buttheiralliance AS THE OVER seven-month- willberesolvedthroughtalks. militaryanddiplomaticlevels. CONFIDENT THAT ANY HealsoslammedtheEnforce- government in two months, Congresscompletedayearlast fell through over the issue of longborderstandoffwithChina Asserting that India has “The talks are going attempt by the BJP to bring ment Directorate (ED) action then they were to do so in six month.Allthroughthisperiod, chiefministership. showed no signs of solution, alwaysbeeninfavourofpeace, on....There is a possibility of downtheMaharashtragovern- against leaders of the ruling months,then in eight months. various BJP leaders have been It was Pawar who is said to DefenceMinisterRajnathSingh Singhalsosaid thecountrycan more talks at the military and ment won't succeed, NCP alliance and theirfamilymem- But, nothing will happen," saying that the government have then rallied Shiv Sena, onWednesdaysaidIndiacannot never compromise on its dig- diplomatic levels,”Singh said. supremo Sharad Pawar has bersas"misuseofauthority". PawartoldPTIinaninterview. will collapse,citing ideological NCP and Congress together to assertedthattheUddhavThack- "Ithasbeenayearnow(since "It is a stable government differencesamongthealliance form the MVAgovernment.

DOLAT INVESTMENTS LIMITED Regd. Off: Office No. 141, Center Point, Somnath, Daman, Daman & Diu- 396210 Corp .Off: 301-308, Bhagwati House, Plot A/19, Veera Desai Road, Andheri (W), Mum - 400058 Tel.: 91-22-2673 2602; Fax: 91-22-26732642; CIN: L67100DD1983PLC004760; Website: www.dolatinvest.com; E-mail: [email protected]; NOTICE Notice is hereby given pursuant to Regulation 29 read with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that a Meeting of the Board of Directors of the Company is scheduled to be held on Monday, 11th January, 2021, inter-alia, to consider and to take on record, the unaudited financial results (Standalone & Consolidated) for the quarter and nine months ended December 31, 2020 and to transact any other business with the permission of Chair. The information is also available on the website of the Company at www.dolatinvest.com as well as on the website of BSE Ltd at www.bseindia.com. For Dolat Investments Limited Sd/- Date : 30.12. 2020 Sandeepkumar G. Bhanushali Place : Mumbai Company Secretary & Compliance Officer

NOTICE-CUM-ADDENDUM Uniformity in applicability of Net Asset Value (NAV) across all schemes (except Liquid Cash Plan and Overnight Fund) upon realization of funds

Pursuant to SEBI Circular no. SEBI/HO/IMD/DF2/CIR/P/2020/175 dated September 17, 2020, Investors are requested to note that in respect of purchase requests (including switch-in) of units irrespective of amount, of all UTI Mutual Fund schemes, except UTI Liquid Cash Plan & UTI Overnight Fund (‘the schemes’), received within cut-off time on a business day, closing Net Asset Value (NAV) of the Business Day on which the funds are available for utilization shall be applicable, with effect from January 1, 2021. The existing provisions on NAV applicability for UTI Liquid Cash Plan and UTI Overnight Fund and cut-off timings for ALL Schemes shall remain unchanged. The existing scheme provisions for applicability of NAV for the Schemes for valid applications received at Official Points of Acceptance on a business day is replaced with following with effect from January 1, 2021. For Purchase (including switch-in) of any amount across all UTI Mutual Fund schemes (except UTI Liquid Cash Plan and UTI Overnight Fund):

Scenario Applicable NAV Application is received before the cut-off time Closing NAV of the day on which the funds of 3.00 P.M. and funds are available for are available for utilization before cut-off time utilization before the cut-off time. Application is received after the cut-off time of Closing NAV of the next Business Day 3.00 P.M. and funds are available for utilization on the same day or before the cut-off the next business day. Irrespective of the time of receipt of application, Closing NAV of the day on which the funds where the funds are not available for utilization are available for utilization before cut-off before the cut-off time. time.

For Switch-ins of any amount: I. Application for switch-in is received before the applicable cut-off time. II. Funds for the entire amount of subscription/purchase as per the switch-in request are credited to the bank account of the respective switch-in schemes before the cut-off time III. The funds are available for utilization before the cut-off time, by the respective switch-in schemes. IV. In case of ‘switch’ transactions from one scheme to another, the allocation shall be in line with redemption payouts For investments through systematic investment routes such as Systematic Investment Plans (SIP), Systematic Transfer Investment Plans (STRIP), Dividend Transfer Plan (DTP), etc. the units will be allotted as per the closing NAV of the day on which the funds are available for utilization by the Target Scheme irrespective of the installment date of the SIP, STRIP or record date of dividend etc. For Purchase /Switch-in applications received on Thursday, December 31, 2020 after cut-off timings for less than Rs. 2 lakhs, the NAV shall be allotted as per above revised rule i.e. based on availability of funds for utilization. All other terms and conditions of all the Schemes of UTI Mutual Fund shall remain unchanged. This addendum no. 26/2020-21 is an integral part of the Scheme Information Document (SID) / Key Information Memorandum (KIM) of all the Schemes of UTI Mutual Fund and shall be read in conjunction with the SID / KIM.

For UTI Asset Management Company Limited, Sd/- Authorised Signatory In case any further information is required, the nearest UTI Financial Centre may please be contacted.

Mumbai December 30, 2020 Toll Free No.: 1800 266 1230 Website: www.utimf.com

REGISTERED OFFICE: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. Phone: 022 – 66786666. UTI Asset Management Company Ltd. (Investment Manager for UTI Mutual Fund) E-mail: [email protected], (CIN-U65991MH2002PLC137867). For more information, please contact the nearest UTI Financial Centre or your AMFI/ NISM certified Mutual fund distributor, for a copy of Statement of Additional Information, Scheme Information Document and Key Information Memorandum cum Application Form. 30.12.20 ADD/eng Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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● HOPE FOR VACCINE Xi sees threats to China's security China has all it needs to vaccinate everywhere heading into 2021 BLOOMBERG rity review on foreign invest- December 30 ments in a broad range of sec- tors, from development of millions,except approved vaccines IN XI JINPING’S China,nearly energy and agricultural everything is becoming a resources to critical infrastruc- use.Last month,Liu Jingzhen, nationalsecurityissue. tureandinternettechnology. Across the country,local govts plan the chairman of Sinopharm, This month Xi called on Themovewasmetwithcrit- whichhastwovaccinesinlate- CommunistPartyofficialsinthe icism by the European Union to inoculate 50 mn people against stage trials, said that none of 25-memberPolitburotobuilda Chamber of Commerce's chap- the coronavirus by early next year theroughlyonemillionpeople “holisticnationalsecurityarchi- ter in Shanghai, China’s main vaccinated so far had any tecture”thatwouldextendto“all financial center,which said the adverse reactions and that aspects of thework of the party measures“areinconsistentwith THE NEW YORK TIMES middle of February,before the “only a few had mild symp- and the country.”He listed 10 thecomingperiod.” China’s stated goals of further December 30 Lunar NewYear holiday,when toms.” components, including “safe- Yuan’s presence at the opening-up.”China’s National hundredsofmillionsofpeople On Wednesday,Sinopharm guarding” China’s one-party meeting shows the extent to Development and Reform HOSPITALS ALL OVER China areexpectedtotravel. saidthatoneofitsvaccinecan- political system and focusing whichthepartyispreparingfor Commission had defended the have almost everything neces- China,where the virus first didates, made by its Beijing moreon“forestallinganddefus- the worst in its strategic battle newrules,sayingtheywere“not saryforamasscoronavirusvac- emerged a year ago,is going to Chinese officials have largely issued broad statements with InstituteofBiologicalProducts ingnationalsecurityrisks.” with the US even after Presi- protectionist”in a Q&Aposted cination drive: Millions of great — and scientifically few details, assuring the public that the vaccines are safe arm, had proved to be 79% AlsospeakingattheDecem- dent-elect Joe Biden takes onitswebsite. doses. Refrigerators to store unorthodox - lengths to pre- effectiveininterimPhase3tri- ber12 meetingwasYuan Peng, office next month.The Trump “Onlybytighteningcontrols them. Health care workers vent a resurgence of the out- monthforgraduateschool. 281,800 people had been vac- als. Sinopharm said it had who heads a think tank affili- administration has been to prevent and control security trainedtoadministerthem. break. While Beijing has not “Because my situation is cinated. In Wuhan,where the applied for Chinese regulatory ated with the Ministry of State relentless in targeting Beijing riskscanwelaythefoundations Everything, that is, except officially announced the vac- pretty urgent and all the stu- coronavirus was first detected, approval for the vaccine, but Security—China’smainintelli- duringitslastfewweeks,mov- foranewroundofopeningup,” muchproofthattheirvaccines cine target, the government dentsaroundmegoingabroad thegovernmentsaidithaddes- the company provided no gence agency.In a June article, ingtorestrictsalesofkeytech- thegovernmentagencysaid. work. hassignalledtherolloutwillbe havetakenit,Ifeelit’srelatively ignated 48 vaccination clinics breakdownofresults. he outlined a new post-pan- nologytodozensofcompanies SeenasChina’smostpower- Unlike their Western com- managed in much the same reliable,”Ms.Zhangsaid. for its emergency program, The data and approval are demic global orderwith the US including Semiconductor ful leadersince Mao Zedong,Xi petitors,mostChinesecompa- wayas the outbreak,through a Even before this current whichstartedonThursday. expectedtocomewithinweeks. and EU on the decline and the Manufacturing International, isenteringacrucialperiodinhis nies have not disclosed data top-down approach that can campaign,more than one mil- The United States and While there have been promis- world facing an imminent eco- China’slargestchipmaker. rule: a once-every-five-year from late-stage clinical trials mobilisethousandsofworkers lion people had lined up to get Britain only started inocula- ing signs,they have come with nomic depression,in which he “The party is increasingly leadershipshufflein2022could thatwouldshowwhethertheir to produce,ship and adminis- vaccinated,bewildering scien- tions after reviewing and caveats.The scale and speed of also touted the benefits of concernedaboutforeignthreats see him hold on to the presi- vaccinesareeffective;justone, ter the shots. Local officials tistswhohavewarnedthattak- approvingfinal-stagetrialdata the vaccination drive are the China’s tech-driven mass sur- looking to destabilise its rule,” dency for a third term. In the the state-owned Sinopharm, were told that the drive was a ing unproven vaccines poses thatshowstheefficacyofthese outgrowthofacentralisedpub- veillance model over that of consultancyTriviumChinasaid past,therun-uptothoseevents has released findings,which it “politicalmission.” potential health risks. Their vaccines. By contrast, China, lic health infrastructure in an Westerndemocracies. inanoteonthePolitburomeet- have seen infighting among did on Wednesday with mini- The campaignwill focus on efforts now,which arewiderin which has five vaccines in authoritarian system.During “The impact of Covid-19 is ing.“This fear will inform not potential rivals for power that maldetails.RegulatorsinChina what China calls“key priority scope,are being rolled out in a Phase 3 trials,has provided lit- the crisis,China showed how it no less than a world war,”Yuan just national security policy occasionally have spilled into have not officially approved groups,” including doctors, similarlyadhocfashion. tleinformationbeforemoving can mobilise thousands of wrote,emphasisingtheneedto making,butallpolicymaking,in public view,a rarity in China’s anyofthem. hotel employees, border In southern Guangdong aheadwithitscampaign. workers to reach millions of ensure national security is pri- thecomingyears.” opaquepoliticalsystem. That has not deterred local inspection personnel, food Province, 180,000 people - Instead, Chinese officials people;ittested11millionpeo- oritisedinChina’sdevelopment The party’s proposed five- “Ourpartywasbornintimes governments across the coun- storage and transportation mostlyworkersinvolvedinfood havelargelyissuedbroadstate- pleinWuhanin10days. plans to guard against external yearplan in Octoberincluded a of domestic and external prob- try,whichhavebegunanambi- workers, as well as travellers. storage and transportation, ments with few details,assur- Chinese vaccine makers attacks.Inparticular,heargued, focus on security issues for the lemsandnationalcrisis,”Xitold tious vaccination campaign. IreneZhang,a24-year-oldstu- quarantinefacilitiesandborder ingthepublicthatthevaccines haveworked to ramp up their “the struggle and competition firsttime,andthedirectivesare thePolitburomeeting.“Wehave Thegoalistoinoculate50mil- dent,got a vaccine on Decem- inspection — had been inocu- are safe and effective.Three of production, both for the forhightechnology,liketheCold already having an impact.This an indelible understanding lionpeople—roughlythepop- ber 22 in the city of Hangzhou lated as of December22.In the the vaccines have been country’s own needs and for War arms race,will be a central month, China said it would about the significance of ulation of Colombia — by the ahead of going to Britain next eastern province of Zhejiang, approved only for emergency global exports. issueininternationalpoliticsin implementanewnationalsecu- nationalsecurity.” Drive for $2,000 checks China clamps down in hidden hunt for coronavirus origins ASSOCIATED PRESS informationbecauseofpolitical The Chinese govt is activelypromotingfringetheo- ping,accordingtointernaldoc- labinChinastudyingthetrans- bogs down Senate Mojiang, December 30 sensitivityandsecrecy. handing out hundreds of riesthatitcouldhavecomefrom uments obtained by The AP.A mission of infectious diseases Abat research teamvisiting thousands of dollars in outsideChina. rare leak from within the gov- fromanimalstopeople. despite Trump push DEEP IN THE lush mountain recentlymanaged to take sam- grants to scientists The government is handing ernment,thedozensofpagesof The AP investigation was valleys of southern China lies ples but had them confiscated, researching the virus’ out hundreds of thousands of unpublished documents con- based on dozens of interviews BLOOMBERG theentrancetoamineshaftthat two people familiar with the dollars in grants to scientists firmwhat manyhave long sus- withChineseandforeignscien- December 30 once harbored bats with the mattersaid.Specialists in coro- origins in southern China researchingthevirus’originsin pected:The clampdown comes tists and officials, along with closest known relative of the naviruseshavebeenorderednot and affiliated with southern China and affiliated fromthetop. public notices, leaked emails, THE PROSPECTS FOR boost- Covid-19virus. tospeaktothepress.Andateam the military with the military, the AP has As a result, very little has internal data and the docu- ingstimuluspaymentsformost The area is of intense scien- of Associated Press journalists found.Butitismonitoringtheir been made public.Authorities mentsfromChina’scabinetand Americansto$2,000arefading tificinterestbecauseitmayhold wastailedbyplainclothespolice findings and mandating that are severely limiting informa- the Chinese Center for Disease fast in the Republican-con- cluestotheoriginsofthecoron- in multiple cars who blocked with the coronavirus, an AP the publication of any data or tionandimpedingcooperation Control and Prevention. It trolledUSSenateevenwithGOP avirusthathaskilledmorethan access to roads and sites in late investigationshowstheChinese researchmustbeapprovedbya withinternationalscientists. revealsapatternofgovernment leaders under pressure by both 1.7 million people worldwide. November. government is strictly control- new task force managed by “What did theyfind?”asked secrecy and top-down control President Donald Trump and As the chances for quick Yetforscientistsandjournalists, More than a year since the ling all research into its origins, China's cabinet, under direct GregoryGray,aDukeUniversity that has been evident through- congressionalDemocrats. action on bigger stimulus it has become a black hole of no firstknownpersonwasinfected clamping down on some while orders from President Xi Jin- epidemiologist who oversees a outthepandemic. The partisan clash over the checks faded, US stocks payments also is entangling pulled back from record anotherpiece ofyear-end busi- Thai women gold ness in the Senate — a vote to highs with the S&P 500 US detects first case of Covid-19variant 'Boris the betrayer' has overrideTrump’sveto of a cru- Index falling 0.2% panners are rare cial $740.5 billion defense pol- swindled us over Brexit, icybill.SenatorBernieSandersis as Biden offers gloomyvaccine outlook winners in Covid- attempting to force a delay on respondstothreeissuesTrump England's fishermen say the defense legislation unless has said he wants, but a bill REUTERS amongothers. hit economy Senate Majority Leader Mitch combining them likely will Wilmington/Denver, Polis said in a statement the REUTERS From the boats in Newlyn, McConnell relents and allows a alienate enough senators in December 30 infectedpatientwasamaninhis AS THE YELLOWISH mud Newlyn, December 30 England’s biggest fishing vote on a standalone bill on the both parties to collapse under 20swithnorecenttravelhistory swirls away in the waters of port by tonnage landed, THEFIRSTKNOWN FORENGLAND’SFISHERMEN, biggerstimuluschecks. its own weight. Even though UScaseofa who is currently in isolation in Thailand’sSaiBuririver,Sunisa to the fishermen’s McConnell on Tuesday many Democrats and some highly infectious coronavirus ElbertCounty,asemi-ruralarea Srisuwanno lifts her wooden Prime MinisterBoris Johnson’s blocked an attempt byDemoc- Republicans want to see variantdiscoveredinBritainwas on the outskirts of the greater pan with a cluster of gleaming Brexit trade deal is a betrayal cottages perched above ratic leader Chuck Schumer to changes to the way Facebook, detectedinColoradoonTuesday Denvermetropolitanarea. speckscaughtinthecentre. because it allows some Euro- the harbour, the feeling of setupavoteonaHouse-passed Twitter, Instagram and other as President-elect Joe Biden “Public health officials are Withglobalgoldpricesnear pean Union boats continued betrayal is all around billthatwouldincreasethepay- social media platforms police warned it could take years for doing a thorough investiga- anall-timehigh,thewomenare access to Britain’s rich inshore mentsto$2,000fromthe$600 contentontheirsites,manyare most Americans to be vacci- tion” and the individual has a rare bright spot for an econ- coastalwaters. — theamount inthe pandemic notlikelytosupportfullrepeal nated against Covid-19 at cur- progressing as it should,”Biden “noclosecontactsidentifiedso omy hard hit by the collapse of Johnson,who led the 2016 for their campaign and when relief measure Trump signed of liability protections or back rentdistributionrates. saidinWilmington,Delaware.At far,”Polis said,adding that the tourismamidcoronavirustravel Brexit campaign, cast the push has come to shove,we’ve into law on Sunday. As the jamming it into an unrelated Biden’s prediction of a grim the current rate,“it’s going to state had notified the US Cen- restrictions. Christmas Eve trade deal as a had the shove and we’ve been chancesforquickactiononbig- pieceoflegislation. winter appeared aimed at low- takeyears,notmonths,tovacci- ters for Disease Control and “The gold panning business way to take back control of the dumpedonfromagreatheight,” ger stimulus checks faded,US Democrats are also loath to ering public expectations that natetheAmericanpeople.” Prevention (CDC). is doing well,especially during UK’s destiny including as an saidMitchell,aBrexitsupporter. stocks pulled back from record give credence to Trump’s the pandemic would be over Shortly after Biden’s Colorado State Laboratory Covid-19,”saidSunisa.“Panning “independentcoastalstatewith From the boats in Newlyn, highs with the S&P 500 Index unfoundedassertionthatfraud soonafterhetakesofficeonJan- remarks, Colorado Governor scientists confirmed the UK gold is our main staple.We sell fullcontrolofourwaters.” England’s biggest fishing port falling0.2%. cost him 2020 election by uary20,whileputtingCongress JaredPolissaidhisstatehaddis- variant after noticing that a gold today, we are able to buy But in Newlyn, an ancient bytonnagelanded,tothefisher- Increasing stimulus checks endorsing a commission to on notice that he wants to sig- coveredthenation’sfirstknown diagnostic test sample was foodtofeedthefamily.” Cornish fishing port as far men’s cottages perched above to$2,000from$600wouldlift investigate voting security, at nificantlyincrease spending to case of the highly infectious missing a key gene signal, The area’s name — Gold from London as Paris, there is the harbour, the feeling of GDPgrowthin2021by1.1per- least not before President-elect expedite vaccine distribution, coronavirus variant B.1.1.7, prompting them to sequence Mountain—indicatesthatmin- anger that Johnson has let EU betrayalisallaround. centagepoint,ona4Q-over-4Q JoeBidenisswornin. expand Covid testing and help which was originally docu- the patient'sviral genome.This inghasgoneonlongerthanany- boats continue plying the rich The anger gives an insight basis,according to Bloomberg McConnell’sbillisstillbeing reopenshutteredschools. mentedintheUnitedKingdom. revealed eight mutations spe- one can remember in Sukhirin 6-12 nautical mile inshore intothemotivationsofthefren- economists. drafted and Republicans are Biden, a Democrat, said Scientiststherebelievethevari- cific to the spike protein gene District,onThailand’ssouthern fishing zone. zied five-year Brexit crisis and InsteadofbackingtheHouse expectedtodiscussitscontents about 2 million people have ant is more contagious than associatedwiththeBritishvari- borderwithMalaysia. “Boris the betrayer has thelimitsofthesettlementthat increase,McConnell is moving when the Senate convenes on receivedtheinitialdoseofoneof other previously identified ant,Polissaidinhisstatement. But it has been made more slayed us andwewon’t forget,” Johnson has tried to impose to present an alternative that Wednesday.Alreadysomesena- two newly approved two-dose strainsoftheSAR-CoV-2variant The Denver-based online lucrativebyrisinggoldprices,up Phil Mitchell, the 51-year-old aftertheUK’stempestuous48- wouldaddtoitarepealofliabil- tors are pushing for changes. vaccines, well short of the 20 butnomoresevereinthesymp- news outlet Coloradopoli- nearly a quarter over the past skipper of the 23-metre yearliaisonwiththeEU. ityprotections for social media John Cornyn,a Texas Republi- million that outgoing Republi- tomsitcauses. tics.com,citingElbertCounty's year.TherestofThailand’secon- Govenek of Ladram, told For fishermen from Corn- companies and creation of a can,saidhewouldliketoattach can President Donald Trump It has also been detected in public health director, later omy is suffering,with the cen- Reuters.“We had the opportu- wall to Scotland,EU member- commission to study electoral his proposal to shield compa- hadpromisedbyyear'send. several European countries,as reported that a second sus- tral bank forecasting a 6.6% nity to actually take back con- ship and the decline of fishing fraud. nies from Covid-19 lawsuits, “Theefforttodistributeand well as in Canada, Australia, pected case of the variant was contractionthisyear. trolandwe’vepasseditup.” gohandinhand.Theyvotedfor McConnell’s proposal whichDemocratsoppose. administer the vaccine is not India, South Korea and Japan, underexamination there. —REUTERS “Theywere happy to use us Brexitindroves. Plea for emergency travel as India extends UK travel ban over mutant virus Ronaldo plans ‘many years’ PRESS TRUST OF INDIA theGraduaterouteonaconces- 70-78% of students who had London, December 30 sionarybasisiftheyspentsome plannedtogotoIndiaforChrist- playing as 36th birthday looms time studying outside the UK,” mas break had already left for INDIANSTUDENTGROUPSin theadvisorynotes. India before December22.The ASSOCIATED PRESS pean Championship with Por- theUKonWednesdayurgedthe “Studentswhoarecomplet- remainingstudents,tilldate,are Turin, December 30 tugal in 2016 leaves theWorld Indiangovernmenttoconsider ing their course in summer not reporting any serious con- Cup as the only major prize to emergency travel options in 2021,includingthosewhocom- cerns due to the travel ban or a APPROACHING HIS 36TH eludehim. extremely exceptional cases mencedaone-yearMasterspro- possible extension,”said Prerit birthday in February,Cristiano “We have to have the steps during the current suspension gramme in September 2020, Souda, spokesperson for the Ronaldo has no intention of under the ground because we of air travel imposed to try and will benefit from this conces- Indian National StudentsAsso- slowingdown. won(in)2016andnowwewant block out a fast-spreading sion if they enter the UK on or ciation(INSA)UK. “Istillfeelgood,sharpandin towin theWorld Cup,”Ronaldo mutant strain of coronavirus to travel due to bans — another help!!!There have to (be) excep- before April 6,2021 and com- “Students who were plan- a good moment in my life,”the said.“Everythingispossible,but detectedinBritain. just last week,” said Sanam tionstotherule,”shesaid. plete the final semesterof their ningtoreturntotheUKforJan- Juventus and Portugal starsaid happen in your life with your youhavetoberealisticaswell.” As the Union Civil Aviation Arora, Chair of the National NISAU-UKhasalsoissuedan studiesintheUK,”itadds. uaryintakeornext-sessionstart in a video interview.“I hope to family’.” A taste of the 2022 World ministry announced that the Indian Students and Alumni advisory for Indian students While a majority of Indian are taking a wait and watch playmany,manyyearsmore,but It’s tougher than expected Cup will come with friendlies suspensionwill be extended by Union UK (NISAU-UK),a repre- hoping to start an academic studentshadmanagedtoflyout approachwithpossibletravelby youneverknow” for Juventus this season, with next year against host nation another week until January 7, sentative group for Indian stu- term in the NewYear and con- of the UK forwhat is a custom- mid or late Januaryif the travel Theforwardstillhasanother thenine-timedefendingSerieA Qatar.“I win (titles with) every the groups sought some emer- dentsintheUK. firmed that under UK Home aryChristmasandNewYearhol- banisremoved.Therehavebeen full season on his contract at champions unusually low in club that I've played with,” gency intervention after being “I’m in desperate need of Office rules,their applicability iday period,a handful of them twocasesthathavecometoour Juventus, expiring in 2022 sixth place — 10 points behind Ronaldo said.“But (the) World contacted by individuals des- helpforflyingtoIndiafromthe for the new Graduate or post- werecaughtoutbythecancella- attentionwhereinafamilycrisis when retirementwon't be con- leaderACMilan—albeitwith25 Cup,it'sadream.” perate to get to India due to a UK.Mymomisverycriticaland study work visa will not be tion of the India-UK air bubble had created a need for emer- sidered.“Ifyoufeelmotivated,it gamesremaining. Bythen,Ronaldowillhopeto familycrisisorbereavement. itisimperativeformeto(be)able impactedadversely. arrangement from December gencytravel.Wehavepassedon doesn’tmatter.Cristianonowis “Myeyesseethefuturevery, be back playing in front of full “Ihopethistimeemergency to fly to Bangalore,”said Netal, “If students are required to 22 after England recorded a these cases to relevant authori- good,”he said. “When I speak verybright,”Ronaldosaid. crowds again, which the pan- travel arrangements can be one of those affected,in aTwit- either continue their current worrying spike in coronavirus ties,”hesaid. withtheyoungboys,I’malways “So, I’m happy with that.” demic restrictions still prevent made forIndian travellerswith terpleatotheMinistryofExter- studies or commence a new casesasaresultofanewhighly- The Indian High Commis- givingadvicetothemthatIsay, Happytoothathehaswontitles inItalyheadinginto2021.Next a familymembercriticallyill or nal Affairs (MEA) and other course by distance or blended transmissible variant of the sion in London said that it is on ‘Enjoythe moment becausewe withLisbonclubSporting,Man- year will also see Portugal justpassedaway.I’veseenfirst- seniorIndianministers. learning due to Covid-19,they deadlyvirus. standby for any "emergency neverknowwhat’sgoingtohap- chesterUnited,RealMadridand defend its title in the resched- handtheplightofthoseunable “UrgingMEAIndiatoplease willstillbeeligibletoswitchinto “As perour analysis,around visa"requirements. pen tomorrow.Something can Juventus. Winning the Euro- uledEuropeanChampionship.

Pune WWW.FINANCIALEXPRESS.COM THURSDAY, DECEMBER 31, 2020 FINANCIAL EXPRESS 21

NOTICE-CUM-ADDENDUM Change in Key Personnel of UTI AMC Ltd

All investors are requested to note that the following employee has been identified as Key Personnel of UTI AMC Ltd, with effect from January 01, 2021.

Name and designation Age (in years) Brief Experience of the Key Personnel Qualifications Mr Rajnish Kumar 49 years 23 years’ experience in Mutual Fund Executive Vice President – BA Hons -Bachelor of Arts (Hons) domain with extensive exposure in Dealing – Economics sales promotion , marketing & MA - Master of Arts – Economics product verticals under the overall MBA - Master of Business Admin. ambit of Business Development & – Finance Marketing . Accordingly, the section ‘Information on Key Personnel of the UTI AMC’ under Statement of Additional Information (SAI) shall include the above details. SOUTHEASTCENTRALRAILWAY This addendum no. 25/2020-21 is an integral part of the Statement of Additional Information (SAI) and Scheme Information Documents (SID) / Key Information Memoranda (KIM) of the Schemes of UTI Mutual Fund and shall be read in conjunction with the SAI & SID/KIM.

For UTI Asset Management Company Limited, Sd/- Authorised Signatory

In case any further information is required, the nearest UTI Financial Centre may please be contacted.

ARM - I BRANCH, MUMBAI Mumbai 37, Kshamalaya, Opp. Patkar Hall, December 30, 2020 Toll Free No.: 1800 266 1230 Website: www.utimf.com New Marine Lines, Thackersey Marg, Mumbai - 400020. REGISTERED OFFICE: UTI Tower, ‘Gn’ Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. Email- [email protected] Phone: 022 – 66786666. UTI Asset Management Company Ltd. (Investment Manager for UTI Mutual Fund) (Auction Sale Notice for Sale of Immovable Properties) E-mail: [email protected], (CIN-U65991MH2002PLC137867). SALE NOTICE For more information, please contact the nearest UTI Financial Centre or your AMFI/ NISM certified Mutual E-Auction Sale Notice for Sale of Immovable Properties under the Securitization and fund distributor, for a copy of Statement of Additional Information, Scheme Information Document and Key Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 Information Memorandum cum Application Form. 30.12.20 ADD/eng read with proviso to Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002. Notice is hereby given to the public in general and in particular to the Borrower and Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Guarantors that the below described immovable property mortgaged to the Secured Creditors, the Symbolic Possession (for Lot No. 1 below) and Physical Possession (for Lot No. 2 below) of which has been taken by the Authorised Officer of the Canara Nariman Point Large Corporate Branch Bank, will be sold on “As is where is”, “As is what is” and “ Whatever there is” 92 - 93, 9th Floor, Free Press House, 215, Free Press Journal Marg, on 05.02.2021, for recovery of Rs. 28,88,59,297/- (as on 30.06.2019) plus further Nariman Point, Mumbai - 400 021 Ph No:022-22041553/50 interest from 01.07.2019 and cost due to ARM-I Branch of Canara Bank from the Fax No.: 022-2204 1569/70 E-mail:[email protected] BorrowerM/s.PurviCommoditiesPvt.Ltd.and theGuarantors(1)ShriPravinParekh, E-Auction Sale Notice for Sale of ImmovableAssets under the Securitisation and Reconstruction of FinancialAssets and Enforcement of (2) Bharat Parekh, (3) Aruna Parekh, (4) M/s. Real Diamond Multitrade Pvt. Ltd. (Full Security InterestAct, 2002 read with proviso to Rule 8 (6) of the Security Interest (Enforcement) Rules, 2002 address are mentioned below). The Reserve Price and Earnest Money Deposit (EMD) Notice is hereby given to the public in general and in particular to the following Borrower(s) and Guarantor(s) that the below described are as mentioned below: immovable property mortgaged to Bank of India(SecuredCreditor),the constructive/physical possession of which has been taken by the Lot Reserve Authorised Officer of Bank of India, will be held on “as is Where is”“as is what is”, and “whatever there is”, for recovery of respective dues Property Details EMD (in Rs.) as detailed here under against the secured assets mortgaged/charged to Bank of India from respective borrowers and guarantors. The No. Price (in Rs.) reserve price and earnest money deposit is shown there against each secured asset.The sale will be done by the undersigned through E- 1 Bunglow No. 13 (having built up area 2216 Rs. 47,25,000/- Rs. 4,72,500/- Auction platform provided here under. sq.ft.), Ghat No 21, Lal Bunglow Complex, (Rupees Forty (Rupees Four E-AUCTION SALE NOTICE UNDER SARFAESIACT2002 CUM NOTICETOBORROWER/ GUARANTOR (Rs. In Lakh) Om Ganesh Sai nagar CHS Ltd., Village Seven Lakhs Lakhs Seventy S.N. Names of the Description of the properties Reserve price/ O/s Dues Date/ Time of Contact No. Divl. Railway Manager (Engg.) Kusgaon-Budruk, Taluk Maval, Dist. Pune - Twenty Five Two Thousand Borrower/Guarantor EMD Amount/ (Excluding Int, on site CPR/10/367 S.E.C. Railway, Bilaspur. 410401, admeasuring Plot area 4602 sq.ft. Thousand Only) Five Hundred Last Date Penal int&Exp) inspection of South East Central Railway @secrail Standing in the name of M/s. Real Diamond Only) (for sub of EMD) In Rs Lakh property Multitrade Pvt. Ltd. 1 Borrower:- Office No 401, 4th Floor, Suntek 894.00/ 6610.40 + 05.01.2021/ 9769714776/ 2 Part and Parcel of Unit No. 50, 2nd Floor, Rs. 1,20,00,000/- Rs. 12,00,000/- st M/s. Vemb Retail India Grandeur CTS No 42, S. V. Road, 89.40/ Interest+ Cost+ 12.00 AM to 022- Regd. Office: 9, M.P.Nagar, 1 Street, Kongu Nagar Extn., Tirupur - 641607. Sidhpura Industrial Estate, Plot No. 3, (Rupees One (Rupees Twelve Pvt Ltd , admeasuring 3585 Sq. Ft carpet 18.01.2021 Legal Expenses 2.00 PM 22041569/70 Corporate Office: C/515, Kanakia Zillion, Junction of LBS Road & CST Road Gaiwadi Road, Off S.V Road, Goregaon (W), Crore Twenty Lakhs Only) BKC Annexe, Near Equinox, Kurla (West), Mumbai - 400070. And area and other carpet area for Mumbai - 400062, admeasuring 1360 sq.ft., Lakhs Only) Tel. No.: 022-26544000 / 9594407347 M/s. MaxApex Ltd services & parking 1940 Sq. Ft., standing in the name of M/s. Real Diamond Guarantors:- CTS- No 42, Andheri (W), Mumbai- [APPENDIX - IV-A] [SEE PROVISO TO RULE 8 (6)] Multitrade Pvt. Ltd. SALE NOTICE FOR SALE OF IMMOVABLE PROPOERTIES MrPunit Agrawal (also 400058, together with all fixtures DATE OF E-AUCTION: FEBRUARY 2, 2021 The Earnest Money Deposit shall be deposited on or before 03.02.2021 at 05:00 P.M. known as Punit and fittings and all undivided right, E-Auction Sale Notice for Sale of Immovable Assets under the Securitisation and Reconstruction of Financial The property can be inspected, with Prior Appointment with Authorized Officer on ShivkumarAgarwal), title and interest in common Assets and Enforcement of Security Interest Act, 2002 read with provision to Rule 8 (6) of the Security Interest 15.01.2021. EMD amount of 10% of the Reserve Price is to be deposited by way of MrsNeetu Agarwal Physical possession with bank. (Enforcement) Rules, 2002. Demand Draft in favour of Authorised Officer, Canara Bank, ARM - I Branch, Mumbai OR ( Also known as Neetu Residential Flat No 101, 728.00/ 6610.40 + 05.01.2021/ 9726909463/ Notice is hereby given to the public in general and in particular to the below mentioned Borrowers(s) and Guarantor(s) Shall be deposited through RTGS/ NEFT/ Fund Transfer to credit of account of Canara Punit Agarwal), admeasuring 1841 Sq. Feet Carpet 72.80/ Interest+ Cost+ 11.00 AM to 022- named hereinafter that the below described immovable properties mortgaged / charged to the Secured Creditor, Bank, ARM Branch, Mumbai A/c No.: 1389296000002, IFSC Code: CNRB0001389 on M/S Tanya Enterprises the symbolic possession of which has been taken by the Authorised Officer of Bank of India and by Assignment or before 03.02.2021; 05:00 P.M. For the said properties there is no encumbrance to Area, plus 1359 Sq Ft carpet area of 18.01.2021 Legal Expenses 01.00 PM 22041569/70 th Pvt Ltd Agreement Dated 7 January, 2020, Bank of India has absolutely assigned & transferred his all rights in toto in favour of the knowledge of the bank. Open Terrace, GopiKunj Building M/s. Omkara Assets Reconstruction Private Limited (OMKARA ARC) in the capacity of Trustee of Omkara For detailed terms and conditions of the sale please refer the link “E-Auction” provided in and along with 2 garages situated in the PS17/2019-20 Trust related to the credit facilities provided to Borrower/ Co- Borrowers. M/S Vemb Lifestyle Pvt same building, GopiKunj Co- Accordingly, Omkara ARC is entitled to recover dues and enforce the securities. It will be sold in exercise of rights Canara Bank’s website www.canarabank.com or may contact Mr. Manoj S R, Authorised Ltd Operative Houshing Society Ltd, and powers under the provisions of sections 13(2) and (4) of SARFAESI Act; on “As is where is”, “As is what is” and Officer, ARM-I Branch of Canara Bank, Mob. No. 9787242782, Ph. No. 022-22065425, Road No 1, Khar (West), Plot No “Whatever there is” and “Without recourse Basis” on 02.02.2021 at 1.00 PM (last date and time for submission of 30, 38 during office hours on any working day. 506 of Suburban Scheme No-VII bids is 01.02.2021 before 6.00 PM), for recovery of amount shown below in respective column due to Omkara Assets Date: 30.12.2020 Sd/- Reconstruction Pvt. Ltd. as Secured Creditor from respective Borrowers and Guarantors shown below. The Reserve Khar, City Survey No E/52, Mumbai Place: Mumbai Authorised Officer, Canara Bank Price and the earnest money deposit of respective property has been mentioned below in respective column. To, -400052, together with all fixtures The description of Borrowers and Mortgagors with description of the immovable property and known encumbrances 1) M/s. Purvi Commodities Pvt. Ltd., and fittings ( both present and (if any) are as under:- Sri Bharat Parekh, G/1, Ganesh Bhuvan CHS Ltd., Daftry Road, Malad (East), future) and all undivided right, title Date of Description of Inspection Mumbai - 400097. and interest in common . Physical Name of Borrower Reserve Price Outstanding Demand immovable Date and 2) Smt. Aruna Parekh, G/1, Ganesh Bhuvan CHS Ltd., Daftry Road, Malad (East), Dues in Rs. possession with bank Name of Guarantors Notice Property EMD Time Mumbai - 400097. Terms and Conditions of the E-auction are as under: M/s. Dunnimaa Engineers and 25.01.2017 All that Piece Rs. 175.00 Date: Rs. 3) M/s. Real Diamond Multi Trade Pvt. Ltd. (Mortgagor), 21/23, Mumbadevi Mansion, �E-Auction is being held on “AS IS WHERE IS” basis, “AS IS WHAT IS BASIS” and “WHATEVERTHERE IS BASIS” and will be conducted “On Divers Enterprises Pvt.Ltd. (Under and Parcel of Lakh 25.01.2021 20,62,00,000/- 2nd Floor, Shop No. 14/A, Dhanji Street, Mumbai - 400003. Line”. Liquidation) Residential (Rupees 4) Damyanti Parekh, 602, Panchavati Apartment, Tilak Vidyalay Road, Vile Parle (East), E-Auction bid form, Declaration, GeneralTermsand Conditions of online auction sale are available in websites - 1) Mr. Sumer Singh Rathore Date of Land & Building EMD Time: Twenty Crores Mumbai. a. https://www.bankofindia.co.in, 2) Mrs. Mithilesh Rathore Symbolic at Plot No.188A, Rs. 17.50 Lakh 11:00 AM Sixty Two Lakh 5) Sri Pravin Parekh, 602, Panchavati Apartment, Tilak Vidyalay Road, Vile Parle b. Websiteaddress of our e-Auction Service provider: - https://www.mstcecommerce.com/auctionhome/ibapi/index.jsp 3) Mr. Ajayraj Singh Rathore Possession Sarsole (GES) to Only) as on (East), Mumbai. Also contact to Mr.RiteshNath- 09668551395 and Mr. Rakesh Ranjan – 09911700233 , 18001025026 and 011-41106131 4) Mr. Arjun Singh Rathore (Deceased) 18.05.2017 Village, Nerul, 01:00 PM 25.01.2017 Bidder may visit https://www.ibapi.in , where “Guidelines” for bidder are available with educational videos. Bidders have to complete following 5) M/s. Modular Storage Systems Navi Mumbai - plus interest & formalities well in advance: Pvt. Ltd 400706. other charges. CLASSIFIED CENTRES IN MUMBAI Step 1: Bidder/purchaser Registration: Bidder to register on e-Auction Platform(link given above) using his mobile number and email-id. CLASSIFIEDS MINIMUM BID INCREMENT AMOUNT: Rs. 50,000/- (RUPEES FIFTY THOUSAND ONLY) Sanjeet Communication Step 2: KYC verification: Bidder to upload requisite KYC documents . KYC documents shall be verified by e-auction service provider ( may take Fort. two working days.) Terms & Conditions: (1) The auction sale will be conducted online through the auctioneer portal www.bankeauctions. Phone : 40024682/ 40792205. Step 3: Transfer of EMD amount to Bidder Global EMD Wallet: On line/off-line transfer of fund using NEFT/Transfer using challan generated com on “As is where is”, “As is what is” “whatever there is” and “Without Recourse Basis”. (2) The secured assets will not BUSINESS S. Arts Advtg. on e-Auction Platform. be sold below Reserve Price. All statutory dues/ attendant charges/other dues including registration charges, stamp duty, Masjid Step 4: Bidder process andAuction Result: Interested registered bidder can bid online on e-Auction platform after completing step 1,2, and 3. taxes etc. shall have to be borne by the successful bidder. (3) E-Auction tender document containing online e-auction bid BUSINESS OFFERS Phone: 23415111 3. To the best of knowledge and information of the Authorised Officer, there is no encumbrance on the property/ies. However, the intending form, Declaration, General Terms & conditions of online auction sales are available in website https://www.bankeauctions. Taj Publicity Services, bidders should make their own independent inquiries regarding the encumbrances, title of property/ies put on auction and claims/ rights/ dues/ com (Support mail Id [email protected] support mobile No. +91-7291981124/25/26). The last date for payment Horizon Supports For Byculla (W), affecting the property, prior to submitting their bid. The E-auction advertisement does not constitute and will not be deemed to constitute any of EMD, and submission of Bid form & Documents is February 01, 2021 up to 6:00 PM. (4) To the best of knowledge and Phone : 2305 4894. Take over Merger of Mobile : 9892011371. commitment or any representation of the bank. The property is being sold with all the existing and future encumbrances whether known or information of the Authorised Officer, there is no encumbrance on the property. However, the intending bidders should make Running Industrial unknown to the bank. The Authorised Officer/ Secured Creditor shall not be responsible in any way for any third party claims/ rights/ dues. No their own independent inquiries regarding the encumbrances, title of property/ ies put on auction and claims/ rights/ dues/ Yugarambha Advertising, Units. Also Deals in Girgaon, claim of whatsoever nature will be entertained after submission of the online bid regarding property/ies put for sale. effecting the property, prior to submitting their bid.The E-Auction advertisement does not constitute and shallnot be deemed Phone : 2386 8065. 4.Date of Inspection will be on 05/01/2021 for properties situated at Mumbai between 11.00 AM to 2.00 PM with prior appointment with to constitute any commitment or any representation of the OMKARA ARC. The property is being sold with all the existing Factory Shed, Industrial Mobile : 9869074144. Land, MIDC Land , above mentioned contact numbers and Bank of India, Nariman Point Large Corporate Branch, contact nos. 022-22041553/50/68/ Mobile: and future encumbrances whether known or unknown to the OMKARA ARC. (5) The Authorised Officer/ Secured Creditor Aaryan Publicity 9619666577 shall not be responsible in any way for any third-party claims/ rights/ dues. To the best of knowledge and information of the Warehouse Sale Dadar (E), 5. The date of on line E-auction will be between11.00AM to 2.00 PM on 21-01-2021. Authorised Officer, there is no encumbrance on the property statutory dues like property taxes, society dues etc. The Purchase Rent. (In Phone: 022-65881876 Mobile: 9320111876 6. Bid shall be submitted through online procedure only. OMKARA ARC however shall not be responsible for any outstanding statutory dues/encumbrances/tax arrears, if any. Maharastra) Contact 7. The Bid price to be submitted shall be above Reserve price and bidders shall improve their further offer in multiple of Rs.50,000/-(Rupees The intending bidders should make their own independent inquiries regarding the encumbrances, title of property/ies & to B. Y. Padhye Publicity Services, Vasu Patil 9657141085. Dadar (W), FiftyThousand Only). inspect & satisfy themselves. Properties can be inspected strictly on the above-mentioned dates and time. (6) The 0050173043-1 Phone : 2422 9241/ 8. Bidders are advised to go through the website for detailed terms & conditions of auction sale before submitting their bids and taking part in E- successful bidder shall deposit 25% of bid amount (after adjusting EMD) immediately i.e. on the same day but not later 2422 0445. Auction sale proceedings. than the next working day, as the case may be and balance 75% amount must be paid within 15 days from confirmation of DATEY Advertising, 9. Bidders shall be deemed to have read & understood the terms & conditions of sale & be bound by them. sale. On failure to pay the sale price as stated all deposits including EMD shall be forfeited without further notice. However, SERVICES Datey Bhavan, Dadar (W) 10. It shall be the responsibility of the interested bidders to inspect and satisfy themselves about the property before submission of the bid. extension of further reasonable time to make the balance 75% payment in exceptional situations shall be at sole discretion of Mobole : 8452846979/ 9930949817 11. The Earnest Money Deposit (EMD) of the successful bidder shall be retained towards part sale consideration and the EMD of unsuccessful authorized officer and subject to terms & conditions as may be agreed upon in writing between the purchaser & the secured Hook Advertainment bidders shall be refunded. creditor in accordance with applicable provisions of law. (7) Interested parties are advised to independently verify the area COURIER Dadar Mobile : 8691800888 12.The Earnest Money Deposit shall not bear any interest. The successful bidder shall have to deposit 25% of the sale price including EMD of land, building and other details. Secured Creditor do not take any responsibility for any errors / omissions / discrepancy already paid, within next day of acceptance of bid price by theAuthorised Officer and the balance of the sale price on or before 15th day of sale. / shortfall etc. in the Secured Asset or for procuring any permission, etc. or for the dues of any authority established by AVAILABLE International Central Advertising Agency, The auction sale is subject to confirmation by the Bank. Default in deposit of amount by the successful bidder would entail forfeiture of the whole Mahim (W), law. (8) The EMD shall be payable through NEFT / RTGS in the following Account: 50504240802 Name of the Beneficiary: Couriers Worldwide Phone : 24468656 / 24465555 money, already deposited and property shall be put to re-auction and the defaulting bidder shall have no claim/ right in respect of property/ Omkara PS 17/2019-20Trust, Bank Name:Allahabad Bank, Branch Name:BKC Branch, Mumbai IFSC Code:ALLA0212755. Services (DHL) USA, amount. Charudatta Advertising, Please note that the Cheques / Demand Drafts shall not be accepted as EMD amount. (9) The intended bidders who have Dubai, Japan, China, 13. Neither theAuthorised Officer/ Bank nor e-Auction service provider will be held responsible for any Internet Network problem/Power failure/ Mahim (W), deposited the EMD and require assistance in creating Login ID & Password, uploading data, submitting bid, training on New Zealand. For Phone : 24221461 any other technical lapses/failure etc. In order to ward-off such contingent situation the interested bidders are requested to ensure that they are e-bidding process etc., may contact e-Auction Service Provider “M/s.C1 India Pvt.Ltd”, Tel.Helpline: +91-7291981124/25/26, Details Call 7045601444, Jay Publicity, technically well equipped with adequate power back-up etc. for successfully participating in the e-Auction event. Helpline E-mail ID: [email protected], Mr. Jay Singh, Mobile: 77388 66326, E Mail - [email protected], or 22703881. Pickup Fort. Dadar (E), 14. The purchaser shall bear the applicable stamp duties/ Registration fee/ other charges, etc. and also all the statutory/ non-statutory dues, Mr. Haresh Gowda, Mobile: 95945 97555 E mail - [email protected], and for any property related query may Phone : 24124640 taxes, assessment charges, etc. owing to anybody. 0070721525-1 contact the concerned Authorised Officer Sandeep Gupta (Mobile - 9594407347), E-Mail : [email protected] Pallavi Advtg. 15. The Authorised Officer/Bank is not bound to accept the highest offer and has the absolute right & discretion to accept or reject any or all at address as mentioned above in office hours during the working days. (10) The highest bid shall be subject to approval Dadar (W), offer(s) or adjourn/ postpone/ cancel the e-Auction or withdraw any property or portion thereof from the auction proceedings at any stage & confirmation of Omkara Assets Reconstruction Pvt Ltd the secured creditor. The Authorised Officer reserves the right to ''IMPORTANT'' Mobile: 9869109765 without assigning any reason there for. postpone / cancel or vary the terms and conditions of auction and accept/ reject all or any of the offers/ bids so received Whilst care is taken prior to Shree Swami Samarth Advertising, 16.The Sale Certificate will be issued in the name of the purchaser(s) / applicant (s) only and will not be issued in any other name(s). without assigning any reasons whatsoever. His decision shall be final & binding. (11) The bidders must hold valid e-mail acceptance of advertising copy, Dadar (W), 17. The sale shall be subject to rules/ conditions prescribed under the Securitisation and Reconstruction of Financial Assets and Enforcement it is not possible to verify its Phone : 24440631 address and may participate in e-auction for bidding from their place of choice. Internet connectivity shall have to be ensured contents. The Indian Express Mobile : 9869131962 of Security InterestAct, 2002. Further details/enquiries if any on the terms and conditions of sale can be obtained from the respective branches (P.) Limited cannot be held by bidder himself. OARPL/service provider shall not be held responsible for the internet connectivity, network problems, responsible for such contents, Stylus Arts, on the contact numbers given. system crash down, power failure etc. (12) The OMKARA ARC reserves its right to sell the property through private treaty as nor for any loss or damage SALE NOTICE TOBORROWER/ GUARANTORS incurred as a result of Dadar (W), per law, in the event of failure of e-auction. (13) The Authorised officer/secured creditor shall not be responsible for any error, transactions with companies, Phone : 24304897 The undersigned being theAuthorized Officerof the Bank of India is having full powers to issue this notice of sale and exercise all powers of sale inaccuracy or omission in the said proclamation of sale. (14) All bidders are advised to visit on www.omkaraarc.com, http:// associations or individuals under securitization and reconstruction of financial assets and Enforcement of Interest Act,2002 and the rules framed there under. You have advertising in its newspapers Time Advertising, omkaraarc.com/auction.php or www.bankeauctions.com for detailed terms and conditions of E-Auction. or Publications. We therefore Matunga (W), committed default in payment of outstanding dues and interest with the monthly rest, cost and charges etc. in respect of the advances granted recommend that readers make Phone : 2446 6191 Statutory Notice For Sale Under Rule 8(6) / Rule 9(1) Of Statutory Interest (Enforcement) Rules, 2002 necessary inquiries before by the bank mentioned above. Hence, the Bank has issued demand notice to you under section 13(2) to pay the above mentioned amount This notice is also a mandatory Notice of 30 (Thirty) days to the Borrower/ Guarantors of the above loan account under Rule sending any monies or entering within 60 days.Youhave failed to pay the amount even after the expiry of the 60 days.Therefore, theAuthorized Officerin exercise of the powers into any agreements with Vijaya Agencies, 8 (6) of Security Interest (Enforcement) Rule, 2002 and provisions of Securitisation & Reconstruction of Financial Assets advertisers or otherwise acting Dadar (W), Phone : 2422 5672. conferred under section 13(4), took possession of the secured assets more particularly described in the schedule mentioned above. Notice is and Enforcement of Security Interest Act, 2002, informing them about holding of auction/sale through e-auction on the on an advertisement in any hereby given to you to pay the same as mentioned above before the date fixed for sale failing which the property will be sold and balance if any manner whatsoever. Mobile : 9920640689 above referred date and time with the advice to redeem the assets if so desired by them, by paying the outstanding dues as will be recovered with interest and cost from you. Please note that all expenses pertaining to demand notice, taking possession, valuation and Media Junction, mentioned herein above along with cost & expenses In case of default in payment, the property shall at the discretion of the sale of assets etc. shall be first deducted from the sale proceeds which may be realized by the undersigned and the balance of the sale Matunga (W), Authorized Officer/Secured Creditor be sold through any of the modes as prescribed under Rule 8 (5) of Security Interest Phone: 022-66393184/ 022-66332340 proceeds will be appropriated towards your liability as aforesaid. You are at liberty to participate in the auction to be held on the terms and (Enforcement) Rule, 2002. Sd/- Mobile: 9820295353/ 9821656198 conditions thereof including deposit of earnest money. Sd/- Authorized Officer, Achievers Media Date: 23.12.2020 Authorized Officer Date: 31.12.2020 Omkara Assets Reconstruction Pvt Ltd. Bandra (W.), Phone : 22691584 Place: Mumbai Bank of India Place: Mumbai (Acting in its capacity as a Trustee of Omkara PS 17 / 2019-20 Trust)

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������������� ������ AUNDH- Mayureshwar Enterprise, Suyog Enterprises, Latish Balkawade, C/o Sandeep Book Stall, Chaphekar Chowk, Swajas Complex, Parihar Chinchwadgaon, Chowk, Aundhgaon, Pune. Ph.no. 9422082164. Pune-7. Mob. 9422011181. Raka Advertising, Chordia Communications, Mrs. Vimal Bafna, Raka Arshad Ajit Chordia. Chambers, Bombay-Pune 17/18, Aundh Gaon, opp. Road, Chinchwad lane of Cosmos Bank, Station, Pune-19. Aundh, Pune-7. Tel: Ph. no. 27475055/ 25886118, 9960111123. 27472250. Shraddha Ads, CAMP - Mrs.Ujwala Kotbagi, 'A' Ad India, wing, Vastu-sunder, Near Office No. 102, 1st Floor, Kumar Classic, Pune-7. Sterling Centre, Opp. Tel. 9371055799. Hotel Aurora Towers, San Ads, M.G. Road, Pune-1. Anurag, Plot No. 10, near Ph. No. 26131993, Kobe Silzler Cave, Aundh- 26135659, Mo: 9422083670. 411007. Tel: 25881302/3/4. Hindustan Advertising APPA BALWANT CHOWK Agency, M/s V. V. Medhi, Mr. Hiroo Surtani, 7, 153, Budhwar Peth, Gitanjali Kunj, Near Jogeshwari Temple, Opp. Nehru Memorial Above Shri Samartha Hall, Ambedkar Road, Agency, Pune-2. Ph.no. Pune-1. Ph. No. 26138113, 64005767/ 24492149/ 26133510, 30227516. Fax: 26131487. BIBVEWADI - Meenat Advertising, Ad Services, Mukund Saigaonkar, Amol Nalawade, 827/7, Dastur Meher Sr. No.659/28, Rajiv Road, Camp, Pune-1. Gandhi Nagar, Upper Last Tel. 26130542. Bus Stop, Bibvewadi, DAPODI- Pune-17. Mobile Vantage Advertising & 9420729914, 9021851460 Mktg., Akash Advtg, A-17, 'C' Building, C. S. Sawar, 645/1, Shop 3rd Floor, Kate Residency, No.4, Rasakar Campus, Near Dapodi Railway Bibawewadi Main Road, Station, Dapodi, Bibawewadi, Pune-37. Tel: Pune-411 012. 9922221261. Ph.no. 27143243/ Ganesh Advertising, 9822847256/ 9822132500. Mr. Vijay Deshmukh, S.no. DECCAN - 672/2a /2b, Ganesh Prajakta Advertising, Complex, Shop No.3, Mr. Sudhanva Jadhav, Bibvewadi, Pune-37. Greetwel, 1250 Deccan Ph.no. 24219660, Gymkhana, F. C. Road, 9822841930. Pune-4. Ph.no. 25531409, BAJIRAO ROAD - 66014132. Sri Ganesh Advertising, DEHU ROAD - R. Nirmala, R. Ravi, Mundakal Enterprises, 'Remedy', 1929, Bajirao Mr. Roji Samuel Raju, 6 Road, Opp. Telephone Unique Housing Society, Bhavan, Pune-30. Ph. No. Near Telephone 25232762, 9922220985. Exchange Dehu Road, BANDGARDEN RD - Pune-1. Apex Advtg, M. 9422519264. Mapadan Firlosh, Office FC ROAD - No 26-6-7-8, Ashoka Mall, Dhandhania Agencies, Opp. Sun & Sand Hotel, Mr. Ravi Dhandhania, 1st Bandgarden Rd, Pune. Floor, Srinath Plaza, Ph. No. 8975758860. Dnyaneshwar Paduka BHAWANI PETH - Chowk, F. C. Road, Globe Enterprises, Pune-5. Ph.no. 25521699/ Tanveer Rehman Shaikh, 25537933. 718, Bhawani Peth, Poona Konark Media Solution College Road, Pune-1. Pvt Ltd., M. 9890073883. Flat No.6, First Floor, BHOSARI - Prabha Tara Appt., Behind Samvad Ads., Hotel Vaishali, F.C. Road, Near Gawli uilding, Shivajinagar, Pune Nashik Highway, Pune-4. Ph. No.32606012, Bhosari, Pune 411039. Telefax: 2553 7013, CHINCHWAD - Mobile: 9823142410. Impex Advertising, Meera Publicity, Mr. Ashfaque A. Shaikh, 1st floor, 10, Oswal Park, C-25, MIDC Comml. Opp. Rachana Lodge, Building No.1, Nr I.B.M.R. behind Safari Hotel, College, hinchwad, Pune- nr S.T.Stand, 411019. Ph. no. 27470282/ Shivajinagar, 9822792583. Pune-05. Ph. 9421017457.

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* ADVERTORIAL An initiative by

Boosting local businesses Rajasthan: Delivering dreams, through Atmanirbhar Bharat sharing prosperity The government firmly believes that the time has come ADE IN India. Go local.Trust local. Go ating the valuation of their brand.These brands to usher in a new era of development with a new thought for self-reliant Bharat. Make in India. are marketing themselves under the nationalis- MThese tags have been floating around tic banner.These brands have played a role in process — the ‘Atmanirbhar Bharat Abhiyan’ now for quite some time. Made in India move- enrichingthestateeconomy.TheMSMEsectorin mentandPrimeministerNarendraModi'sclarion Rajasthanhasgrownsteadilyandnowbecoming ITH the country opening on a generational business families. Over the call about 'Vocal for Local' made excited local a leading state in introducing business reforms. month-on-month basis, it is OUR LONG past few months,the Indian business com- organizations in the state follow the action. The state government's efforts are bearing fruit. W clear that the government is DEPENDENCE ON munity has adapted to the current times Many local organizations started manufactur- In every corner lies a story of hope.Across the keen on providing respite to businesses to and are now also making productsthat are ingproductsatthelocallevel.Itseemsthatlocal- state's length and breadth,countless dreams are spur economic activities. From the recent IMPORTS, EVEN FOR under the‘essential’ items now,especially ization vision for a while is followed for now by coming true, bringing in prosperity and happi- reforms to new initiatives, it appears that BASIC NECESSITIES, PPEs,masks,gloves,sanitisers,etc. local manufacturers. ness for industry and people. the government has made up its mind to With the PM Modi’s clarion call for At- The five primary pillars listed by PM Naren- Pink City Mills (PCM Masalas) is Rajasthan's boost the local economy and make India HAS CAST A manirbhar Bharat getting stronger,the In- draModiinhisaddressarethekeyfortheself-re- leading food company being appreciated for its self-reliant as much as possible. dian business community should further liant state, which includes Infrastructure, Econ- food quality across the state and nation. They Dueto the serious impactof coronavirus SHADOW ON OUR take up the mantle to manufacture prod- omy,Technology-driven system, Demography, have attained this success in the last 46 years on the world economy, countries across COMMITMENT ucts that are not being manufactured in and Demand.These well-crafted words are es- by introducing quality products, responding to the globe continue to face an uphill task the country currently so that as a nation sential for the organizations and manufacturers changing consumer needs, and government of reviving their flailing economies.In such TOWARDS LOCAL we’reindependent.Thisinitiativeonpartof to follow in becoming self-reliant.Accentuating support.Vaibhav Global limited,headquartered a scenario,it is essential to spread aware- the community will also ensure a better ex- on self-reliance,orAtmanirbhar Bharat govern- infrastructure, and opportunities, and effective in Jaipur,has thrived globally as an electronic re- ness regarding the benefits of going INDUSTRIES port potential as well. However, for ex- ment is promoting organizations to make 'made service delivery. tailer of fashion jewelry and lifestyle products in ‘swadeshi’ or self-reliant.Seeing the plight ports, the quality of products matters a in India' products, but the government is also Local organizations have already started the US and United Kingdom.They are delivering of our industries and the other emerging great deal. Most businesses should also promoting local brands manufacturers and sup- training people to make handmade products joy to customers every day through low-cost, business opportunities,the Prime Minister ate a lot of confidence among our local in- consider selling their products through e- ply chains. and locally sourced raw material. When PM high-quality products. had announced to go‘Vocal for Local’,sig- dustries. commerce giants,if they haven’t been do- Rajasthan is a state that is rebuilding and mentioned going 'Vocal for Local,' he empha- The coronavirus crisis has undoubtedly made nalling a strong push for self-reliance. On the one hand, the pandemic has ing so already. reinventing itself. It is already home to leading sized competitive products with good quality, us realize the importance of local manufactur- The government firmly believes that the crippled our economy,on the other hand,it In his‘Mann Ki Baat’ programme inAu- companiesreapingtheadvantagesofournatural notjustlogoandtaglinesmentioningMadeinIn- ers,local products,and the local supply chain.In time has come to usher in a new era of de- has opened up new business avenues. gust, PM Modi had also urged start-ups endowments,infrastructure and policy reforms. dia. He has given significance and opened av- the crisis,local manufacturers have fulfilled our velopment with a new thought process — Consider this — when in the beginning of and entrepreneurs to develop innovative The state is investing in human capital and fa- enues for local brands to have a glocal presence. dreams and saved us.It is now our responsibility the‘Atmanirbhar BharatAbhiyan’. the lockdown,the demand for‘non-essen- toys and games to meet local demand and cilitating organizations to grow and prosper Campaigns for promoting 'Vocal for Local' have to be with locals.It's time for us to promote the Our long dependence on imports, even tial’ products was low,the Indian business toexploreopportunitiesintheglobaltoyin- with ease of doing business.It offers an opportu- been underway by many regional brands. The products through local channels,use digital me- for basic necessities,has cast a shadow on community leveraged the current crisis to dustry market, estimated at around Rs 7 nity for profitable investment in several sectors, state government is certainly trying to make sure dia and online tools, connect with consumers, our commitment towards local industries. turn it into an opportunity for their com- lakh crore. both traditional and new age. It is a call to ex- they use locally made products and ban inferior skillteamswithvariousaspectsofproduction,lo- Why to import at all when we can produce panies.While some of them ventured into With people nowadays moving away ploreandexperiencetheeco-system putin place quality ingredients. gistics,packaging,marketing,etc.This will help and manufacture on our own? Don’t we other sectors, others started to explore from buying Chinese products during this that has made the world of business look at Ra- Alotoflocalbrandsandproductsareenjoying sustain the business and grow in a long way,.it trust our capabilities and expertise? Don’t new business opportunities in emerging festive season,this presents a great oppor- jasthan as a land of promise. sales and presence in the global market. Ra- will create more jobs and employment opportu- we have the resources to make at least the segments. tunity to our local business community to Atmanirbhar Rajasthan provides lots of ad- jasthan has given us many iconic brands that nities for the state.The support of industry,local necessary products on our own?The lesser During the lockdown, many business manufacture festival-related products. If vantages to the industry,including access to eco- have found success globally, and they are still players,and the government is necessary to take theimports,thelesserisourdependenceon entities moved onlineand started conduct- theIndianbusinesscommunityisabletore- nomic growth centers,robust connectivity,pow- called authentic Rajasthani from Bandhani to this movement forward and realize the dream a country like China.Think of the possibili- ing their business operations digitally,else spond to this huge demand-supply gap in ering growth, skilled workforce, ready Bikaneri Bhujia, from Doria sarees to Marble of self-reliance.This calculated move anddrive to ties that this attitude towards going they would have vanished amidst restric- the market,their businesses will bring in a infrastructure,financial incentives from the gov- handicrafts. Blue Pottery, Bikaneri Bhujia, Kota push will certainly witness success. It is a step ‘swadeshi’ might open for us — not just tions.The shifting of businesses online is a whole new paradigm shift in the indige- ernment and other necessary support for doing Doria Sarees, Gems and Jewelry, Sanganeri & taken to advance the journey to anAtmanirbar increased job opportunities but our asser- new reality for the Indian business com- nous market of the country, giving wings business.Atmanirbhar Rajasthan's model draws Bandhej Prints and other local handicrafts.This is Bharat. tion on being self-reliant will also gener- munity,especially for those who were from to the‘Atmanirbhar Bharat’ campaign. its lifeline from the triad of livelihoods,access to helping in carving a name for them and appreci- — Dr Sheenu Jain,Associate Professor

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