VILLUPURAM SUNDAY JULY 12, 2020 `8.00 PAGES 24 CITY EDITION IPHONE MAKER FOXCONN MAY PUMP $1 BN INTO TN PLANT TWITTER ABOUT 6,000 NEW JOBS OVER THREE YEARS A total of $1 billion will be invested over three years in the Sriperumbudur plant, sources told the news agency. This will create about 6,000 jobs. Foxconn currently makes iPhone XR in Chennai. Once expanded, the facility would produce other models as well. This will let Apple avoid import dues and make its products more competitive in the Indian market The company is under strong pressure from Apple to slowly shift production of iPhones out of China, Reuters reported ■ Apple BIG BOOST FOR MAKE IN INDIA ■ Apple can also utilise India’s cheaper labour force, and with the gradual expansion of its supplier base here, it could use the country as a significant export hub, the report noted The big-ticket investment would be a major boost for PM Modi’s Make in India campaign, and would hit China where it hurts | P10 ACCOUNTS FOR ABOUT 1% OF TOTAL SMARTPHONE SALES IN INDIA CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOGGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ WARANGAL ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI CHENGALPATTU It has become a lot more important that the banks improve governance, sharpen risk management skills and raise capital on an anticipatory basis instead of waiting for a situation to arise 266 Says the economic impact of the pandemic may result in higher non-performing assets and capital erosion of banks EXPRESS NEWS SERVICE @ New Delhi RESERVE Bank of India Governor Shaktikanta Das on Saturday warned that the economic fallout due to the coronavirus pandemic may worsen the bad loan situation in the country and urged banks to guard against capital erosion. “The economic impact of the pandemic -- due to lockdown and anticipated post lockdown compression in economic growth -- may result in higher non-performing assets and capital erosion of banks,” Das said. He was addressing the seventh SBI Banking and Economics Conclave through a video call. Calling the pandemic “the biggest test of robustness and resilience of our economic and financial system, Das said the outlook for economic recovery still remains uncertain and will depend on how the pandemic unfolds. “The Indian economy has started showing signs of getting back to normalcy in response to the staggered easing of restrictions,” he said adding it is still uncertain when supply chains will be restored fully . Also, it is not clear how long will it take for demand conditions to normalise, he noted. In this context, he called for a recapitalisation plan for public sector banks as well as private banks. Das said the banking regulator has already directed all lenders and non-banking financial firms to take stock of critical processes, revisit their business continuity plans and conduct stress test on their balance sheets to evaluate the risk posed by the pandemic. The RBI gover nor also warned of the adverse impact of stress on banks over housing finance companies and mutual funds. “While the NBFC sector as a whole may still look resilient, the redemption pressure on NBFCs and mutual funds need close monitoring, “ he said. Das also called for a legislative backing for a ‘resolution corporation’ to deal with the financial sector stress. “Traditionally the approach has been to merge a field bank with a larger bank. While that definitely protects the depositors’ interest, it also tends to pull down the balance sheet of the larger bank to which the failed bank is merged. We need legislative backing to have a resolution corporation which has to deal with resolution and revival of stressed financial firms,” Das argued. GOLD SMUGGLING NIA detains Swapna Suresh from B’luru 215 273 TOTAL 1,840 242 134 112 213 171 July 1 169 87 86 July 10 THE National Investigation Agency on Saturday evening detained Swapna Suresh and Sandeep Nair, the key suspects in the Kerala gold smuggling case, from a hotel in Koramangala in Bengaluru, top sources told TNIE. Swapna’s minor daughter and another minor, who had accompanied the suspects, were also reportedly present at the time of the duo’s detention. “Swapna and Sandeep are being questioned by the NIA in Bengaluru and they will be arrested in due course. They will be taken to Kerala and produced before the special court there,” said an officer. According to sources, Swapna and Sandeep Nair had reportedly travelled to Bengaluru in a private car along with her husband Jagmohan, their minor daughter and another minor child. A former woman employee of the UAE consulate, Swapna is a key suspect in the gold smuggling bid through diplomatic baggage and was booked under the Unlawful Activities (Prevention) Act. FROM July 13, the Supreme Court will start hearing miscellaneous as well as regular matters, bringing some respite to lawyers as well as litigants. This comes at a time when courts across the country seem to have been crippled by the Covid-19 lockdown. The judiciary, already reeling under huge pendency of cases, has found ‘virtual hearings’ have not brought much relief as these are meant only for urgent matters. For regular cases, both lawyers and litigants are facing a tough time. In normal circumstances, the top court takes a two-month vacation every summer. This year, it has slashed the vacation time to just two weeks but it hasn’t helped matters. The main reason for hearing less number of cases during lockdown is non-availability of infrastructure for virtual hearings. In the Supreme Court and high courts, special arrangements were made only after the pandemic spread. Beginning from e-filing to virtual court WITH THIS ISSUE 67 61 July 10 31 July 1 175 172 217 134 TOTAL 2,017 July 10 An analysis of the daily cases in Chengalpattu, Kancheepuram and Tiruvallur districts indicates that around 30 per cent of total cases in these districts have been reported in the first 10 days of July MICROSCOPE TRIO NEIGHBOURING CHENNAI FACES HEAT O M J A S V I N M D @ Chennai ARE Chennai’s three neighbouring districts turning into major clusters of the Covid-19 pandemic? A close analysis of the daily cases in Chengalpattu, Kancheepuram and Tiruvallur districts indicates that around 30 per cent of total cases in these districts have been reported in the first 10 days of July . Former director of public health Dr K Kolandasamy suspected that this could be a sign that the State is seeing the second wave of infection, and there could also be a third wave. “After Chennai, now the Biocon drug gets nod Bengaluru: Biotechnology major Biocon on Saturday announced that its “breakthrough drug,” itolizumab has received Drugs Controller General of India’s (DCGI) approval for its use in moderate to severe Covid cases Study raises questions New Delhi: A cohort study of Covid-19 patients in Kota found that a majority of those admitted to hospitals there had no symptoms and was not in need for hospital care, negatively affecting those in real need hearings, all was done during this period. Several glitches crop up every day at times frus, trating lawyers and judges. The Supreme Court had suspended the entry of lawyers and litigants to the court premises a day before the lockdown began in March. Later, a judicial direction was given, asking high courts to operate similarly The high courts, too, issued . orders to the subordinate judiciary to hear cases through video-conferencing. Since March 23, a total of 618 benches have heard 6,994 cases, in addition to 150 matters that were heard by the Registrar. During this period, the Supreme Court delivered 672 judgments in 134 main and 538 connected matters. In normal circumstances, these numbers would nearly be double as on an average, the Supreme Court hears hundreds of cases on each working day . High courts have adapted to the new technology and heard maximum cases but if we compare the number of cases heard last year in high courts, the number is much higher. READING MINDS PLUS 12 PAGES 164 209 300 July brings more cases spread could possibly be in the surrounding corporations and districts. It is the characteristic of the virus. The third wave could possibly be in smaller towns,’’ he said. Between July 1 and 10, Chengalpattu recorded 1,840 cases, which is 24 per cent of the total 7,653 cases in the dist r i c t s o f a r. S i m i l a rl y, Kancheepuram recorded 1,154 cases in the first 10 days of July, which is 37 per cent of the total 3,099 cases reported in the district so far. Meanwhile, Tiruvallur saw 2017 cases, which is 33 per cent of the total 6,075 cases in the district. When taken together, cases reported in the three districts in the first 10 days of July turn out to be close to 30 per cent of all cases recorded in these districts. While the three districts reported a total of 16,827 cases from March to July, as many as 5,011 cases among them were added in the last 10 days. While Kancheepuram and Tiruvallur mostly had cases in two digits till mid June, both the districts are reporting cases in three digits in July How. ever, Chengalpattu, which is the closest to Chennai Corporation, has been continuously witnessing an upward trend P2 of cases. TA M I L N A DU COV I D -1 9 BAT T L E Ranipet 50 Tirupathur 12 Krishnagiri 15 Dharmapuri 14 Salem 136 Erode 42 Tiruchy 128 Nilgiris 1 Coimbatore 71 Karur 6 Tirupur 6 Dindigul 5 Theni 119 Madurai 277 Virudhunagar 94 Tenkasi 65 Kanniyakumari 133 Tiruvallur 346 Vellore 135 Kancheepuram 119 Chennai 1,185 Chengalpattu 237 Tiruvannamalai 64 Villupuram 44 Kallakurichi 102 Cuddalore 17 Perambalur 2 Ariyalur 12 Tiruvarur 13 Nagapattinam 6 Thanjavur 27 Pudukottai 36 Namakkal 12 Sivaganga 67 Ramanathapuram 81 Thoothukudi 175 Tirunelveli 80 3,965 new cases reported in TN TN continued to witness a surge in Covid-19 infections as 3,965 cases and 69 deaths were reported on Saturday, taking the tally to 1,34,226 and the toll to 1,898. Chennai saw a marginal dip in cases, recording 1,185 cases against the daily average of 1,200plus cases in the last four days. The city had been recording a daily average of around 2,000 cases in the last weeks of June. 61 among 69 victims had comorbidities Among the deaths reported on Saturday, 61 patients had comorbid conditions. Among the victims, close to 45 people were aged above 60 years and about 20 people were aged above 70 years. A 24-year-old old man with no comorbidities, who was admitted on July 9 at the Stanley Hospital, died on the same day. His results came positive only on July 10. Minister K P Anbalagan stable On Saturday, as many as 3,591 people were discharged, taking the total figure to 85,915, which is almost double that of the active cases which stands at 46,410. The State conducted 36,628 tests on the day, taking total tests to 15,00,909. According to a statement given by the MIOT hospitals, Minister K P Anbalagan who is admitted there, is in a stable condition. Govt warns against rush to use experimental drugs EXPRESS NEWS SERVICE @ New Delhi THE Centre has asked the states and medical colleges across the country to focus on providing standard care for Covid-19 patients and advised against the indiscriminate use of investigational therapies. The advisory comes amid reports of a mad rush to use experimental drugs such as remdesivir and tocilizumab to treat Covid-19 cases. Courts bear brunt of lockdown; expect some relief from Monday K A N U S A R D A @ New Delhi 251 133 106 TOTAL 1,154 July 1 364 152 121 PANDEMIC BLUES B A L A C H A U H A N @ Bengaluru TIRUVALLUR 182 274 RBI Governor Shaktikanta Das Bad loan mess may get messier, warns RBI guv KANCHEEPURAM 330 Kerala HC shows the way Kerala High Court on March 24 became the first in the country to hold hearings via video conferencing in light of Covid19. Twenty-one benches have disposed of 7,521 cases so far. Telangana High Court too has performed well, hearing more than 9,000 cases and passing as many as 1,401 judgments through video conferencing. SOP to issue books The State has issued standard operating procedure for free distribution of text books to Class X, XII students from Monday “These can be used in specific sub-groups of patients on the basis of informed and shared decision making with the patient before prescribing these drugs..their indiscriminate use or use in conditions for which they are not desirable, may cause more harm than good,” the Union Ministry of Health and Family Welfare said in a statement. Experts from ICMR and AIIMS, Delhi on Friday underlined that for moderate and se- vere cases, adequate oxygen support, appropriate and timely administration of blood thinners and the use of widely available and inexpensive corticosteroids should be considered the mainstay of Covid-19 treatment. The ministry said, available evidence for remdesivir suggests it may decrease the time for clinical improvement when used in moderate to severe cases, but there has been no evidence of reduced mortality . “It has to be used with extreme caution due to its potential for liver and kidney injury,” the ministry noted. “Similarly, for tocilizumab, studies have not shown any benefits in mortality reduction. Rampant use is to be discouraged since the drug’s main purpose is to suppress a Covidinduced immune reaction.” The health ministry recommended the use of anti-malarial drug hydroxychloroquine to treat mild cases. Let States decide assessment methods: CM EXPRESS NEWS SERVICE @ Chennai INDICATING that Tamil Nadu may not be in a position to conduct the final semester examinations of college students by September, due to the prevailing situation, Chief Minister Edappadi K Palaniswami on Saturday urged the Centre to allow the States to work out their own assessment methods, without compromising on the quality and academic credibility . Though the State had scheduled to conduct semester examinations in April, it could not conduct them because of the pandemic outbreak, the CM said and recalled the UGC guidelines dated April 29 which gave flexibility to universities and colleges for the conduct of examinations. Taking exception to the latest guidelines issued by the UGC on July 6, mandating all educational institutions across the country to conduct examinations by September for the final-semester students, the Chief Minister said the UGC directive has posed many difficulP4 ties.
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