KALABURAGI TUESDAY SEPTEMBER 08, 2020 `7.00 PAGES 14 CITY EDITION INDIA TEST-FIRES HYPERSONIC TECH DEMONSTRATOR VEHICLE India on Monday joined a select group of countries that can develop the next-generation hypersonic cruise missiles WILL HELP IN FUTURISTIC SPACE ASSETS SCRAMJET ENGINE VS RAMJET ENGINE The indigenously developed HSTDV, developed by the Defence Research and Development Organisation, will help India develop futuristic space assets like long-range missile systems, officials said. The HSTDV is capable of powering missiles to attain a speed of around Mach 6 or six times the speed of sound. Only the US, Russia and China have such a capability ■ The HSTDV operates on a scramjet (supersonic combustion ramjet) engine, against the ramjet engine used on most missiles ■ A scramjet is a variant of a ramjet airbreathing jet engine in which combustion takes place in supersonic airflow. Scramjet powered vehicles can operate at speeds up to Mach 15 20 seconds TIME TAKEN BY THE HSTDV TO REACH AN ALTITUDE OF 32.5 KM 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 26 sectors picked for loan recast RBI accepts recommendations of Kamath panel that suggests formula for lenders EXPRESS NEWS SERVICE @ New Delhi A month after it announced a loan restructuring plan to help relieve Covid stress on industry, Reserve Bank of India on Monday released the K V Kamath panel’s report suggesting financial parameters for 26 pandemic-hit sectors. RBI said it has broadly accepted the panel’s suggestions. According to the report, lenders must mandatorily consider total outstanding liabilities/ adjusted tangible net worth, total debt/Ebitda, current ratio, debt service coverage ratio, and average debt service coverage ratio while finalising loan resolution plans. Only those companies whose loans accounts are in default for not more than 30 days as on March 1, 2020 will be eligible for one-time restructuring. RBI said the panel will vet resolution plans for all accounts where the exposure is more than `1,500 crore. For sectors where ratios have not been specified, lenders can make their own assessment. THE CHOSEN ONES Power; construction; iron and steel manufacturing; roads; real estate; wholesale trading; textiles; chemicals; consumer durables/FMCG; non-ferrous metals; pharma manufacturing; logistics; gems and jewellery; cement; hotels, restaurants, tourism; mining; plastic products manufacturing; auto manufacturing; auto components; auto dealership; aviation; sugar; port and port services; shipping; building materials; and corporate retail outlets The central bank said the resolution framework needs to be invoked by December 31 this year. Plus, the plan must be implemented within 180 days from the date of invocation. RBI had on August 7 constituted the panel led by veteran banker Kamath to suggest financial parameters to be factored in while offering resolut i o n fo r C ov i d 1 9 - re l at e d economic stress. While banks are yet to ascertain the amount that will be restructured, India Ratings pegs the restructuring quantum from the corporate sector in FY21 at `3.3-6.3 lakh crore. DETAILED COVERAGE: P12 Ragini sourced drugs, made financial transactions with peddler, says CCB EXPRESS NEWS SERVICE @Bengaluru THE Central Crime Branch (CCB) police, probing the alleged drug case in the Kannada film industry, are said to have established that actress Ragini Dwivedi allegedly procured drugs from other accused in the case, Loum Pepper Samba, and there were financial transactions between them. Samba, an African, was picked up a day after Dwive- K’ TAKA COV ID -1 9 BATTL E 4,04,324 5,773 TOTAL CASES 3,00,770 TEST POSITIVE ON MONDAY TOTAL DISCHARGES P4 6,534 DEATHS EXPRESS READ Chanda Kochhar’s husband arrested Mumbai: The Enforcement Directorate (ED) has arrested Deepak Kochhar, husband of former ICICI Bank Chief Executive Officer Chanda Kochhar, in connection with a money laundering case, officials said on Monday. Not protecting anyone: CM Bengaluru: Chief Minister B S Yediyurappa on Monday said there was no question of protecting anyone with regard to the case, adding that the government has taken tough measures against it. di’s arrest on September 4. CCB sources said that Ragini was not ready to reveal much about her involvement in the case, but the investigation exposed that she was in touch with Samba at least for the last six months. “The actress told the investigators that she met Samba at a party and they were not friends. But we have established that they were in contact with each other for several months. The messages exchanged between them, which had code words, are like conversations between a seller and a buyer,” an official said. It is alleged that she procured drugs from Samba whenever she went to parties. CONTINUED ON: P4 ‘Optics of fiscal deficit can hurt Centre-state ties’ EXPRESS NEWS SERVICE MONEY often is at the root of all ugly family squabbles. The lack of it is now threatening to fracture the giant, but fragile, Indian GST family. The Centre, which missed payments, proposed two options, both involving state borrowals, causing cracks in the One Nation, One Tax reform. But there is across the board agreement that the Centre must provide for the shortfall, else it could endan- ger the spirit of Centre-state cooperation, as underscored in TNIE’s exclusive groupchat with three state finance ministers. Dr T M Thomas Isaac, Minister of Finance, Kerala was emphatic that states cannot sacrifice GST compensation. According to him, the Centre must borrow, but if it’s too afraid of the ‘optics of fiscal deficit going up’, the least it should do is to empower the GST Council to borrow, while P5 it stands guarantee. KARNATAKA DAMAGE ASSESSMENT Rs 8,071 cr loss due to floods, Central team told E X P R E S S N E W S S E R V I C E @Bengaluru CHIEF Minister B S Yediyurappa on Monday told a Central inter-ministerial team visiting Karnataka to assess the damage caused by floods that the State had suffered losses to the tune of Rs 8,071 crore. In a video presentation on the extent of loss and damage, Yediyurappa said crops in 4.03 lakh hectares were destroyed apart from damage caused to roads, bridges, infrastructure and government buildings including schools. A six-member Central team led by K V Pratap, Joint Secretary Union Home Minis, try met Yediyurappa at his official residence , Krishna. Highlighting that 22 districts in the State were battered by floods in 2018 and 2019 as well, the Chief Minister presented them a copy of the State’s assessment of damage to life, livelihood and property due to the floods this year. The team will tour the State till Wednesday and make their own assessment. “The State government is providing financial assistance under a visionary reconstruction scheme with the motto of ‘rebuild with quality’. A sum of Rs 5 lakh for houses damaged completely Rs 3 lakh for partially , damaged houses, Rs 50,000 for slightly damaged houses is being given as assistance. And Rs 1,500 crore has been spent last year. This year, despite the Covid-19 pandemic, the State will bear the cost of Rs 200 crore,” Yediyurappa told the Central team. The State government has asked the team to recommend immediate revision to SDRF and NDRF guidelines to release additional funds. The Cente has set up four specific windows for the SDRF but Covid-19 has stalled our attempts. A sum of Rs 460 crore has been released to SDRF to manage the Covid crisis and the flood situation. But Covid cases are on the rise in the State and there is an urgent need for additional funds to carry on flood relief and rehabilitation CM Yediyurappa to the Central team
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