COIMBATORE TUESDAY SEPTEMBER 08, 2020 `7.00 PAGES 14 LATE 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 ‘$100bn output by 2025’: EPS unveils new electronics manufacturing policy CHANDA KOCHHAR’S HUSBAND DEEPAK ARRESTED ED has arrested Deepak Kochhar in connection with a money laundering case. Kochhars were questioned for alleged irregularities in giving bank loans to Videocon group | P12 C S H I V A K U M A R @ Chennai IN yet another industrial push amid the pandemic-induced economic gloom, Chief Minister Edappadi K Palaniswami on Monday unveiled “Tamil Nadu Electronics and Hardware Manufacturing Policy”, aimed at attracting global investors to the State. At the heart of the policy is the ambition to ramp up the State’s electronic sector output to an impressive $100 billion, and to contribute to one-fourth of the country’s total electronic exports by 2025. The policy provides adequate infrastructure and supporting ecosystem to Electronic System Design and Manufacturing (ESDM) companies, while planning to develop the Semiconductor Fabrication industry (FAB) in the State, where devices such as integrated circuit chips are manufactured. According to sourc- es, the State is looking to attract at least two major FAB investments over the next three years. There are also plans to incentivise the homegrown startups in the sector. The document underlines the need for skill training for over one lakh people (skilled and semi-skilled) by 2024, to meet the incremental human resource requirement, projected by the National Skill Development Corporation. ‘Optics of fiscal deficit can hurt Centre-state ties’ Scan the QR code or watch the full YouTube video on bit.ly/2ZfdTQy 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 endanger the spirit of Centre-state cooperation, as underscored in TNIE’s ex- T M Thomas Isaac T Harish Rao Basavaraj Bommai clusive group-chat 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 it stands guarantee. Concurring with Isaac, T Harish Rao, Minister of Finance, Telangana put forth the elementary logic of lower borrowing costs for the Centre and access to overseas capital. “We were told, if Centre bor- For transcript on TNIE site, go to bit.ly/3i89w0Z rows economy will go down, but if states borrow it won’t. How can it be?” he wondered. On the other side of the spectrum, Basavaraj Bommai, Minister of Finance (Additional Charge), Karnataka, said such confrontationist attitudes won’t offer solutions and urged states to be prudent. COVID BATTLE TN woman re-infected, sparks concern S I N D U J A J A N E @ Chennai A 35-year-old doctor in Chennai who had tested positive for Covid in May and had recovered, has now been infected again, according to the woman’s husband. Although a few cases of suspected reinfection have been reported across the world, the Health Department said it was yet to start studying it. Scientists are closely watching such cases as it may indicate the degree of immunity one has, post recovery . The woman, a gynaecologist, was on duty when she tested positive on May 28, said her husband, who is also a doctor. She was treated for fever and myalgia (pain in a muscle), and had no signs of chest infection. “About 10 days ago, she developed fever and myalgia again,” her husband said, adding that a CT scan showed the infection affected about 20 per cent of her lungs. Meanwhile, the Satish Dhawan Space Centre in Sriharikota, has become a Covid hotspot. For the second day in a row, it recorded 31 new cases. Despite the spurt in cases, it has been decided not to suspend operations.
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