WARANGAL TUESDAY JANUARY 12, 2021 `7.00 PAGES 12 CITY EDITION $ CORPORATE AMERICA DECIDES TO PAUSE POLITICAL DONATIONS US business houses are rethinking political contributions in the wake of the Capitol siege by Trump supporters last week GOLDMAN, JP MORGAN, CITI HALT CONTRIBUTIONS Goldman Sachs has announced freezing of donations through its political action committee (PAC). JPMorgan, the largest US bank by assets, will halt donations for six months, while Citigroup will put all contributions on hold for a quarter. Meanwhile, some firms like Marriott are pausing donations to Republicans who sought to overturn the election results ■ $14 bn POLITICAL ACTION COMMITTEES VS E-BONDS ■ Blue Cross Blue Shield, Boston Scientific and Commerce Bancshares are taking a targeted approach to donation freezes In the US, companies contribute to political parties or candidates through PACs which make the details public. In India, companies can anonymously pay political parties through electoral bonds ESTIMATED MONEY SPENT DURING THE 2020 U.S. PRESIDENTIAL ELECTION 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 NPA situation set to worsen, warns RBI EXPRESS NEWS SERVICE SC set to issue orders today on setting up a court-monitored committee to address the farmer agitation; raps Centre for sloppy talks, prods it to put contentious legislations on ice for now Stay on farm law implementation? @ New Delhi GROSS bad loans of banks could swell to 13.5% of total assets under the baseline stress scenario by the end of September 2021, according to an RBI report. Gross NPA of banks was 7.5% in September 2019. However, if the macroeconomic environment worsens, bad loans could rise to 14.8% --the highest in two decades, Reserve Bank of India’s Financial Stability Report (FSR), released on Monday warned. , The last time banks piled up NPAs was in 1996-97 at 15.7%. The stress test projections are close to what RBI had estimated in the last FSR in July It . had then said bad loan ratios might rise to 12.5% of total advances by March 2021 under the baseline stress scenario and to 14.7% under the very severely stressed scenario. Notably, the RBI report also cautioned the stress in the banking system is hidden for now, due to the regulatory forbearances such as loan moratorium, the standstill on asset classification and Covidled restructuring allowed, and may surface eventually . “The data on fresh loan impairments reported by banks may not be reflective of the true underlying state of banks’ portfolios. This can underestimate the impact of stress tests,” the report said, urging banks to assess their respective stress situations and follow it up with measures to raise capital proactively . RBI’s stress test projections have come with several caveats. “...Considering the uncertainty regarding the unfolding economic outlook, and the extent to which regulatory dispensation under restructuring is utilised, the projected ratios are susceptible to change in a nonlinear fashion,” it said. to say that it did not want any blood on its hands, and also voiced concern about the possibility of the protests turning violent. “Who is going to take responsibility for bloodshed if this sabrerattling goes on and results in c o n fl a g r at i o n ? ” t h e b e n ch questioned. K A N U S A R D A @ New Delhi THE Supreme Court on Monday indicated that it could stay the implementation of the three contentious farm laws as it came down heavily on the government for insisting on continuing with the laws despite the nearly twomonth-long farmers’ protest in and around Delhi’s borders. A bench headed by Chief Justice of India S A Bobde told Attorney General K K Venugopal and Solicitor General Tushar Mehta that the government had failed to hold effective negotiations with the protesting farmers, and stressed the need for a courtappointed committee to break the logjam. The bench will pass its order on Tuesday . The court blamed the government for framing the laws without enough consultation. “We do not want to repeat the criticism but we do not believe your negotiations are effective. We are attempting to make the atmosphere conducive by keeping the implementation of the laws in abeyance,” the CJI observed while referring to the suicides by farmers Farmers during their ongoing agitation over the farm reform laws, at the Singhu border in Delhi on Monday | PTI NOT EVEN ONE PLEA IN SC SAYING LAWS ARE GOOD, FINDS BENCH Observing that there is not a single petition before the Supreme Court saying the farm laws were beneficial, the bench told the Centre, “It will not help you to say that this was started by the last government. We are discussing constitutionality.” Sense of responsibility “We don’t see why there is an insistence on implementation of the laws. It’s our intention to see if we can bring about an amicable resolution. That is why we asked why don’t you put the bills on hold. You want time for negotiation. If there is some sense of responsibility then you will not implement the laws,” the bench said When Venugopal claimed that the laws were based on the recommendations of various expert committees set up by past governments, including those of the UPA, the CJI cut him short. “It will not help to say that some oth- Centre to foot bill for 3 crore worker jabs EXPRESS NEWS SERVICE @ New Delhi THE Centre will bear the full expense of vaccinating three crore healthcare and frontline workers in the first phase. This was confirmed by Prime Minister Narendra Modi during his videoconference call with chief ministers on Monday . “Health workers, both government and private, will be vaccinated first. Sanitation workers, other frontline workers, defence forces, police and other paramilitary forces will also be vaccinated in the first phase,” Modi said. Thereafter, those above 50 years and younger people with serious co-morbidities will be given the vaccine against Covid19. The PM also told the chief ministers that politicians including people’s representatives such as MPs and MLAs should not try to get the vaccine in the first phase. He also asked states to ensure that no rumours are spread against vaccination as the massive drive kicks off. During his interaction with the CMs, Modi said that apart from the two already-approved vaccines — Covishield manufactured by Punebased Serum Institute and Hyderabad-based Bharat Biotech’s Covaxin — four others are in the pipeline. “Our experts have taken all precautions to provide the countrymen with effective vaccines,” he said. The vaccine rollout will begin on January 16 with the help of 61,000 programme managers, 2 lakh vaccinators and 3.7 lakh other vaccination team members, the CMs were informed. The priority of vaccination has been decided as per advice of experts and the scientific community after consultation with the states, the PM said. The vaccination for Covid-19 has been going on in about 50 countries since past 3-4 weeks, and till now, only about 2.5 crore people have received vaccination, he said. On the other hand, India has set an ambitious target of vaccinating 30 crore people in the next few months, he added. VACCINE TO BE GIVEN AT 1,213 CENTRES: KCR I P4 Singareni opencast mine spells danger for Ramappa Temple A I H I K S U R @ Hyderabad EVEN as Ramappa Temple awaits UNESCO’s decision on the World Heritage Site nomination, there may be a bigger concern regarding the safety of the archaeological structure due to the location of the upcoming Kakatiya Khani (KTK) Opencast III of the Singareni Collieries Company Limited (SCCL). The temple lies within the buffer zone (10km of project area) of KTK Opencast III at a specific distance of around 5.7 km. This proposed mine, and its various blasting and oth- er similar activities at the site may cause damage to the structure. As per officials, scientific studies will be taken up to determine the impact of such activities on the temple. The concerns regarding the presence of this archaeologically important structure was first highlighted in the Environmental Impact Assessment/Environmental Management Plan prepared by the Hyderabad-based Environment Protection Training and Research Institute for CONTINUED ON P4 the SCCL. er government started it. We are not on the merits of the laws,” CJI Bobde said. To Venugopal’s complaint that the farmers were being stubborn on their demand to repeal the laws, the CJI said they will be heard by the proposed court-appointed committee. Referring to the bench’s suggestion to stay the legislations, Venugopal requested it not to take such a drastic decision and to wait for some more time before passing orders. But the CJI was in no mood to relent. “Sorry to say, we have to, because you, as the Union of India, did not take responsibility You were not able . to solve the problem. You should have been able to solve the strike, but you did not,” CJI Bobde said. Mehta sought to defend the government when the CJI asked him if the Centre was part of the problem or the solution. The Solicitor General said many organisations had come forward to support the laws as progressive. The bench also made it clear that the protesting farmers would have to move to another site to continue their agitation. FIRST CENTRE OUTSIDE US GCC in Hyderabad is MassMutual’s first centre outside the US 1,50,000 sft 300 leased in the Vamsiram’s BSR IT SEZ in the Financial District in Nanakramguda personnel already hired by the company. The centre can house 600+ employees MassMutual to invest `1K cr in Hyd facility E X P R E S S N E W S S E R V I C E @ Hyderabad MASSMUTUAL, a US-based Fortune 500 company which offers life insurance products and investment services, will be initially investing `1,000 crore for their upcoming Global Capability Centre (GCC) in Hyderabad, IT and Industries Minister KT Rama Rao announced on Monday . “MassMutual, a 170-year-old top Fortune 500 organisation and a world leader in the insurance industry choosing Hyderabad and establishing its first GCC outside USA here is a testimony to the investor-friendly policies and the value proposition the city and Telangana offers,” Rama CONTINUED ON P3 Rao said. CHINA MOVES TROOPS DEPLOYED IN REAR E X P R E S S N E W S E R V I C E @ New Delhi CHINA recently moved around 10,000 People’s Liberation Army (PLA) personnel deployed deep inside the Line of Actual Control (LAC) on their side, further away from the border. But there was no change in its deployment of troops and equipment on the Ladakh border, where they ingressed into Indian territory several months ago. Confirming the development, a senior Army officer said, “There is no change in the troop positions from the Chinese side.” The deployment of equipment and systems, including the artillery ar, moured vehicles and missile regiments in the stand-off mode, have also not changed. Though the purpose of the Chinese troop reorganisation was not immediately clear, there was speculation that it could be due to bad weather. Schools to reopen from Feb 1 for Class 9 & above E X P R E S S N E W S S E R V I C E @ Hyderabad INDICATING that the situation is back to normal, Chief Minister K Chandrasekhar Rao on Monday directed the officials concerned to make arrangements for the reopening of schools from February 1 for Classes 9 and above. During a review meeting held at Pragathi Bhavan, the Chief Minister directed the officials to reopen classes from 9th Standard upwards in all the private and government educational institutions from February 1. “Classes should be held for the students of 10th, Intermediate, degree and other professional courses. Meanwhile, keep ready hostels, residential schools and all educational institutions and ensure that the toilets are clean. The District Collectors should take the necessary measures to keep the educational institutions clean and hygienic,” he said. Since the educational institutions were closed for months, Rao directed the officials to clean the entire premises and ensure that the food grains and essential commodities are not rotten. “Keep the educational institutions ready by January 25 to conduct the classes. Ministers should visit SC, ST, BC hostels and see to that they are fit for the students to stay he said. CONTINUED ON P4 ,” BLOCK-BUSTER TEST Draw of inspiration: Battered Vihari-Ashwin defy pain, odds in Sydney S W A R O O P S W A M I N AT H A N @ Chennai SHRIPAD NAIK INJURED Ayush Minister Shripad Naik was injured and his wife and personal assistant killed when their car overturned at Ankola in Karnataka on Monday night IT was a day for new heroes. It was a day for unfairly maligned cricketers to remind India of the talent they possess. It was a day for putting bodies on the line to save careers. Weeks after being bundled out for their lowest score ever, they married heart, fight and spirit to outlast the Australian bowlers in a display of guts that will be re- counted in history books that will chronicle the triumphs of Indian cricket. That too by a bunch that included players who wouldn’t have figured in the XI if everyone was fit. The scoreboard will say Hanuma Vihari remained unbeaten on 23. It will say R Ashwin made an undefeated 39. What it won’t say is they battled their body, the Aussie bowlers and cheap shots from close-in field- ers for over 40 overs to steer India to a draw when that possibility seemingly did not exist after they lost captain Ajinkya Rahane in the second over of the day. While Rishabh Pant and Cheteshwar Pujara played their part, the unbroken sixthwicket stand between Ashwin and Vihari made the difference. They shut out the pain and repelled everything. On Twitter, Ashwin’s wife, Hanuma Vihari and R Ashwin hug after the match in Sydney on Monday | AFP Prithi, posted “he could not stand up straight when he woke up this morning”. So he opted to keep stretching in the dressing room, shadow practicing while Pujara and Pant shared a 148-run partnership. By the time he joined Vihari, the latter was limping. Retiring was not an option. So they started to block. They took blows, they flinched, they popped a pill, they opted for extra protective gear when the easier way out was to walk away. Their vigil lasted more than 40 overs. They spoke in Tamil, as the countdown began. Vihari acknowledged how Ashwin kept guiding him during his innings llike an ‘elder brother’. Such was the emotion that “We did not even celebrate towards the end because we did not know what to make out of it,” Ashwin revealed on bcci.tv.
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