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Stock Markets Today Latest Updates: The market trimmed early losses as the Sensex was trading 380.33 points or 1.22 percent lower at 30,779.29 while the broader Nifty was down 115.45 points or 1.27 percent at 8,996.45 at around 10.50 am. Bajaj Finance was the top loser in the Sensex pack plunging nearly 7 percent in the morning trade. OPEC, Russia approve biggest-ever oil cut OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20 percent. Measures to slow the spread of the coronavirus have destroyed demand for fuel and driven down oil prices, straining budgets of oil producers and hammering the US shale industry, which is more vulnerable to low prices due to its higher costs. Sensex down over 600 points, Nifty down 185 points; Rupee slips 8 paise against dollar India is likely to record its worst growth performance since the 1991 liberalisation this fiscal year as the coronavirus outbreak severely disrupts the economy, the World Bank said. India’s economy is expected to grow 1.5 percent to 2.8 percent in the 2020-21 fiscal which started on 1 April, the World Bank said in its South Asia Economic Focus report. It estimated India will grow 4.8 percent to 5 percent in the 2019-20 fiscal that ended on 31 March. The COVID-19 outbreak came at a time when India’s economy was already slowing due to persistent financial sector weaknesses, the report said. To contain it, the government imposed a lockdown, shutting factories and businesses, suspending flights, stopping trains and restricting mobility of goods and people. “The resulting domestic supply and demand disruptions (on the back of weak external demand) are expected to result in a sharp growth deceleration in FY21 (April 2020 to March 2021),” it said, adding that the services sector will be particularly impacted. A revival in domestic investment is likely to be delayed given enhanced risk aversion on a global scale, and renewed concerns about financial sector resilience. “Growth is expected to rebound to 5 percent in Fiscal 2022 (2021-22) as the impact of COVID-19 dissipates, and fiscal and monetary policy support pays off with a lag,” the World Bank said. The World Bank joins a chorus of international agencies that have made a similar cut in growth estimates in recent days on concerns about the COVID-19 outbreak. The Asian Development Bank (ADB) sees India’s economic growth slipping to 4 percent in the current fiscal, while S&P Global Ratings has further slashed its GDP growth forecast for the country to 3.5 percent from a previous downgrade of 5.2 percent. Fitch Ratings puts its estimate for India growth at 2 percent, while India Ratings & Research has revised its FY21 forecast to 3.6 percent from 5.5 percent earlier. [caption id=“attachment_5678251” align=“alignleft” width=“380”]  Representational image. Reuters.[/caption] Moody’s Investors Service has slashed its estimate of India’s GDP growth during 2020 calendar year to 2.5 percent, from an earlier estimate of 5.3 percent. In its report released on Sunday, the World Bank saw the South Asian region, comprising eight countries, growing by 1.8 - 2.8 percent this year, down from the 6.3 percent it projected six months ago. Its 2019-20 estimate for India at 4.8 - 5 percent is lower by 1.2 - 1 percent of the estimate made in October 2019. The 1.5 - 2.8 percent growth estimate in 2020-21 is lower than 5.4 - 4.1 percent estimated in October last year. “The green shoots of a rebound that were observable at the end of 2019 have been overtaken by the negative impacts of the global crisis,” the World Bank report said, adding India has set aside just over 1 percent of GDP for programs to increase health sector spending and compensate the unemployed, with the bulk of the money going towards cash transfers, free food and gas cylinders, and interest-free loans. In a conference call with reporters, World Bank Chief Economist for South Asia Hans Timmer said India’s “outlook is not good.” And if the domestic lockdown is prolonged, then the economic result can be much worse than what the World Bank has in its baseline range of forecasts. Among the steps that India can take to address this challenge, Timmer said the first is to focus on mitigating the spread of the disease, and to make sure that everybody has food. “Then, it is very important to prepare for a rebound and that means there should be a focus on temporary jobs programmes, especially at the local levels. Those initiatives should be supported. And it is important to prevent bankruptcies especially of a small and medium sized enterprise,” Timmer said in response to a question. “In the longer run, this is really an opportunity to bring the Indian economy on sustainable path not just fiscally, but also socially,” he said. The World Bank is working with India to mitigate the challenge posed by COVID-19. It has approved USD 1 billion to India, of which the first tranche has already been released to deal with the emergency in the health care sector. The first tranche aims at delivering civilian diagnostic equipment, put in place additional capacity to deal with testing and make testing available that benefits the entire population, said World Bank Vice President for South Asia Hartwig Schafer. It is also working with India on two additional operations, which is anticipated to be ready in a matter of weeks. These include, employment, banking and micro, small and medium enterprises sector. In its report, the World Bank said that the COVID-19 outbreak has magnified pre-existing risks to India’s economic outlook. The government is undertaking measures to contain the health and economic fallout, and the RBI has begun providing calibrated support in the form of policy rate cuts and regulatory forbearance. “Given significant uncertainties, there is a wide confidence interval around the baseline estimate. If a large-scale domestic contagion scenario is avoided, early policy measures payoff, and restrictions to the mobility of goods and people can be lifted swiftly, an upside scenario could materialize in FY21, with growth around four percent,” it said. “However, if domestic contagion is not contained, and the nationwide shutdown is extended, growth projections could be revised downwards to 1.5 percent, and fiscal slippages would be larger,” it said.
Stock Markets Today Latest Updates: Sensex plunges over 450 points, Nifty below 9,000-mark at close; realty, auto, bank index decline
Stock Markets Today LIVE Updates: Sensex down over 600 points, Nifty down 185 points; Rupee slips 8 paise against dollar
 "Stock Markets Today Latest Updates: Sensex plunges over 450 points, Nifty below 9,000-mark at close; realty, auto, bank index decline")
Sensex plunges over 450 points, Nifty below 9,000-mark; realty index falls 5%
The Sensex tanked 469.60 points or 1.51 percent to 30690.02, while Nifty was down 118.05 points or 1.30 percent at 8993.85 at close on Monday.
Bajaj Finance was the top loser in the Sensex pack falling over 10 percent. Other major losers included M&M, Titan Company, Hero MotoCorp, ICICI Bank and Tech Mahindra.
As many as 1,194 shares advanced, 1171 shares declined, and 201 shares remained unchanged.
On the sectoral front, realty index fell 5 percent followed by auto, bank, energy, IT and FMCG. However, buying seen in the metal, pharma and infra sectors. BSE Midcap and Smallcap indices ended lower.
Domestic passenger vehicle sales plunge 51% in March: SIAM
Passenger vehicle sales in India declined by 51 percent in March, hit by 21-day nationwide lockdown due to the coronavirus pandemic.
As per the data released by Society of Indian Automobile Manufacturers (SIAM), passenger vehicle sales last month dropped to 1,43,014 units as compared with 2,91,861 units in March 2019, a decline of 51 percent.
Similarly, commercial vehicles sales last month saw a massive dip of 88.95 percent at 13,027 units as against 1,09,022 units in March 2019.
SIAM Data | March passenger car sales at 85,229 units while passenger vehicle sales at 1.43 lakh units. Utility vehicle sales at 51,569 units, down 44.7% on a yearly basis. @siamindia says Rs 2,300 cr/day loss in production turnover due to #lockdown pic.twitter.com/N86ATff7co
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
Govt likely to amend IBC 2016
Govt set to amend Insolvency & Bankruptcy Code (IBC), 2016 as one-time measure to suspend Sec 7, 9 & 10: Govt Sources pic.twitter.com/7oxyyoQX8O
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
Regular visa, e-visa of foreigners extended till 30 April: Govt
The government has extended regular visa and e-visa of foreigners, who have been stranded in India due to COVID-19, till 30 April, said ministry of home affairs.
SHARP commits Rs 5 lakh towards PM-CARES Fund
Japanese consumer durables maker SHARP on Monday announced contribution of Rs 5 lakh to the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Trust (PM-CARES) Fund to support the fight against the coronavirus pandemic.
Besides this, the company said it has also supplied 24 units of its state-of-the-art air purifier to civil surgeon hospitals in Panchkula and Gurgaon in Haryana for providing safe and clean hospital wards for medical staff and patients.
Spot gold markets remain shut due to lockdown: HDFC Securities
Spot gold markets remained shut on Monday due to nationwide lockdown to prevent spreading of COVID-19, according to HDFC Securities.
In the international market, gold was quoting higher at $1,690 per ounce, while silver was flat at 15.21 per ounce.
“Gold prices have continued upside on strong physical demand in global markets,” it said.
NCAER survey suggests most people support lockdown extension
A survey by economic policy think tank NCAER suggests that majority of people are in favour of lockdown extension in the country by another two weeks despite facing hardships on multiple fronts.
The Delhi National Capital Region Coronavirus Telephone Survey (DCVTS) was conducted during 3-6 April 2020, by the National Council of Applied Economic Research (NCAER) and is based on responses from 1,750 people.
It also suggests that about 29.3 percent of households were affected by shortages in supplies of food, cooking fuel and medicine and the problem was more severe in rural areas in the wake of 21-day coronavirus lockdown, which is coming to an end on 14 April.
Wellthy Therapeutics raises $4 mn from Saama Capital
Chronic disease management firm Wellthy Therapeutics on Monday said it has raised $4 million (around Rs 30 crore) from Saama Capital as part of its pre series A funding round.
With the investment, the venture capital firm has acquired around 16 per cent stake in the company, Wellthy Therapeutics said in a statement.
Apart from utilising this raise to deepen its product-suite and expand geographically, the company will accelerate the launch of its respiratory digital therapeutic portfolio, especially relevant in the current situation, it added.
Steel ministry directs PSUs to feed migrant workers
Union Steel Minister Dharmendra Pradhan has directed steel PSUs to adopt the ‘Annadaan initiative’ for feeding migrant workers and weaker sections of the society in and around their areas of operation.
A ministry official said Pradhan is holding meetings with senior ministry officials and chiefs of the PSUs on a daily basis through video conference to take stock of the situation.
“Steel CPSEs have been advised (by the minister) to adopt ‘Annadaan’ initiative in and around their areas of operation for feeding migrant workers and weaker sections of the society. They (PSUs) have also taken initiatives for it,” the official said.
ONGC gas output drops 15% as shut factories refuse to take supplies
State-owned ONGC has been forced to cut natural gas production by over 15 per cent as factories shut down following the unprecedented nationwide lockdown have refused to take supplies.
Oil and Natural Gas Corp (ONGC), which produced 64.3 million standard cubic meters of gas per day (mmscmd) prior to the lockdown imposed on 25 March, has reduced the flow to 53.4 mmscmd, sources aware of the development said.
Gas sales are down to 40 mmscmd against 50 mmscmd previously, they said.
India, Pakistan plan to restart some economic activity during lockdown
India and Pakistan are planning to partially open up some parts of the economy, officials in the two countries said on Monday, as the costs of harsh lockdowns to limit the outbreak of the coronavirus mount across the region.
India and Pakistan are planning to partially open up some parts of the economy, officials in the two countries said on Monday, as the costs of harsh lockdowns to limit the outbreak of the coronavirus mount across the region.
But the shutdown has left millions of people without work and the World Bank forecast India’s economic growth could drop to 1.5 percent to 2.8 percent in the fiscal year that started on 1 April, the weakest pace in three decades.
Prime Minister Narendra Modi has asked his cabinet colleagues to come up with plans to open up some crucial industries as the livelihoods of millions of people were at stake, a government source involved the deliberations said.
Startup engage4more comes out with special ‘Lockdown’ edition of digital IPs
Employee engagement company, engage4more’s inter-corporate IPs that were largely about on-ground events have gone online. For entertainment and to de-stress employees, CTC or Corporate Talent Championship, the flagship 8-year-old IP has come up with its ‘Lockdown’ edition.
To communicate, engage and train remotely, tikkle by engage4more is a 3in1 mobile app. Dr Reddy’s Laboratories uses tikkle app to communicate, engage and train its employees in India.
“It is essential now more than ever to keep the employees digitally engaged be it through new learning models or via exciting online contests. One of our recent initiatives was to run an online quiz contest using the tikkle app, and it worked well for us. The daily quiz contests on topics related to business, current affairs and sports are favourite among our employees,” said, Archana Bhaskar, CHRO, Dr Reddy’s Laboratories.
Talking about latest digital adaptations, Nishant Parashar, founder director, engage4more said, “Through our specially curated digital employee engagement IPs, we assist the corporate world.”
Market continues to trade in red zone, Nifty below 9,000-mark
The benchmark indices continued to trade in the red zone as Sensex was trading 444.79 points or 1.43 percent lower at 30,714.83 while the Nifty was down 118.95 points or 1.31 percent at 8,992.95 at around 3 pm.
Bajaj Finance was the top loser in the Sensex pack declining over 10 percent.
Rupee settles on flat note at 76.27 against dollar
The rupee pared initial losses and settled for the day on a flat note at 76.27 (provisional) against the US dollar on Monday amid weakening of the greenback in international market.
Forex traders said the rupee is trading in a narrow range as losses in the greenback supported the rupee, while weak domestic equities weighed on the local unit.
Moreover, investor confidence strengthened after the minutes of the central bank’’s policy meeting revealed that the RBI will use any instrument necessary to revive growth and preserve financial stability.
“The Reserve Bank will continue to remain vigilant and will not hesitate to use any instrument – conventional and unconventional – to mitigate the impact of COVID-19, revive growth and preserve financial stability,” Reserve Bank of India (RBI) governor Shaktikanta Das said.
#Rupee ends almost flat against the US Dollar pic.twitter.com/ecaqXtaHrW
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
IndiGo shares up 5% from lows
#CNBCTV18Market | Sharp surge in IndiGo, up 5% from lows pic.twitter.com/kbkfJxl8th
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
LIC extends 30-day grace period to policyholders for premiums due in March, April
Life Insurance Corporation of India (LIC) has extended period of payment of premium for all policies due in the month of March and April 2020 by 30 days.
The extension has been announced to reduce the difficulties faced by policyholders due to the outbreak of COVID-19.
For February premiums, where grace period was expiring after 22 March, relaxation is now allowed up to 15 April.
LIC said that wherever policies can be revived without any evidence of good health, this can also be done online.
ADB triples financial aid to fight COVID-19 to $20 billion
The Asian Development Bank (ADB) on Monday said it has tripled the size of its COVID-19 response package for its member nations to $20 billion.
The multilateral funding agency said it has also approved measures to streamline its operations for quicker and more flexible delivery of assistance.
The package expands ADB’s $6.5 billion initial response announced on 18 March, adding $13.5 billion in resources to help its developing member countries counter the severe macroeconomic and health impacts caused by COVID-19, it said in a release.
The USD 20 billion package includes about USD 2.5 billion in concessional and grant resources, it added.
Market extends losses as Sensex tanks over 600 points
The benchmark indices continued to extend the losses as Sensex plummeted 632.29 points or 2.03 percent to 30,527.33 while the Nifty was down 164.60 points or 1.81 percent at 8,947.30 at around 2.20 pm.
Swiggy expands essential services to over 125 cities
Food ordering and delivery platform Swiggy on Monday said it has expanded delivery of groceries and household essential services to over 125 cities and has also tied up with a number of national brands and retailers.
The company has partnered with several national brands and retailers such as HUL, P&G, Godrej, Dabur, Marico, Vishal Mega Mart, Cipla and many other city specific stores to supply branded essential products and food items to the customers’ doorstep, Swiggy said in a statement.
“While the grocery and essentials category has always been a part of our long-term strategy of delivering hyperlocal convenience, we have enabled faster ramp up for the benefit of our consumers,” Swiggy COO Vivek Sunder said.
Extending the hyperlocal delivery offering will unlock a new dimension of convenience and safety for company’’s consumers as well as earnings for its delivery partners during these extraordinary times, he added.
Foreigners aggressively sold Asian bonds in March on coronavirus worries
Asian bonds recorded their biggest foreign outflows in at least seven years in March, as investors turned risk averse on concerns over the coronavirus outbreak and chased safer assets such as the US dollar and money market instruments.
Foreigners sold a net $17.28 billion worth of regional bonds last month, the highest since at least January 2013, according to data from regional banks and bond market associations in Indonesia, Malaysia, Thailand, South Korea and India.Indian debt saw the biggest outflows, worth $8.13 billion in March and the highest since at least January 2002, the data showed.
Indonesian bonds posted $7.44 billion worth of outflows, the most in at least 10 years, while Malaysian and Thai bonds saw outflows worth $ 2.85 billion and $2.45 billion, respectively.
Sterlite Power commissions Gurgaon-Palwal transmission project
Transmission solutions provider Sterlite Power on Monday said it has commissioned Rs 1,027 crore worth Gurgaon Palwal Transmission Project (GPTL) in Haryana.
This project is expected to enhance the power capacity of Gurugram and Palwal areas in Haryana by nearly 2,000 MW, the company said in a statement.
“Envisaged as part of the inter-state transmission system project, the Rs 1,027 crore GPTL will meet the peak energy requirements of Haryana, which is expected to reach more than 12,000 MW in FY 2020-21 from 9,000 MW in FY 2014-15,” it said.
The project will evacuate 2,000 MW to Haryana Vidyut Prasaran Nigam ensuring access to reliable power for more than three million households in the state.
Exclude moratorium period from 90-day NPA timeline, orders Bombay HC
Bombay HC allows lockdown period to be excluded from 90-day NPA recognition cyclehttps://t.co/bRKGvFnOc3
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
Pidilite to contribute Rs 25 cr towards coronavirus relief funds
Pidilite Industries on Monday said it will contribution of Rs 25 crore towards relief funds to fight the coronavirus pandemic.
This contribution will be made to the central as well as other emergency state relief funds, the company said in a statement.
Pidilite Industries managing director Bharat Puri said, “We stand in solidarity with the people of India and our government’’s efforts to overcome this unprecedented pandemic."
He further said that the company will continue to care for the health and well-being of its partners and employees while constructively supporting the various relief efforts announced by the government.
Grasim shares rise nearly 5%
#CNBCTV18Market | Grasim gains 9% from lows hits in opening hour of trade pic.twitter.com/24rhU9tSss
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
Market extends losses as Sensex plunges over 500 points, Nifty below 8,900-mark
The benchmark indices extended the morning losses as Sensex plunged 565.21 percent to 1.81 percent to 30,594.41 while the Nifty was down 148.10 points or 1.63 percent at 8,963.80 at around 1.30 pm.
Bajaj Finance was the top loser in the Sensex pack declining over 9 percent.
Hyundai Motor donates Rs 5 cr to Tamil Nadu CM relief fund
Hyundai Motor India Ltd (HMIL) on Monday said its CSR arm Hyundai Motor India Foundation has donated Rs 5 crore to Tamil Nadu Chief Minister Relief Fund towards its contribution in the fight against coronavirus.
Commenting on the initiative, HMIL managing director & CEO SS Kim said, “We stand united with the Government of Tamil Nadu to provide relentless support in these challenging times. This contribution is an expression of our solidarity with the people of the state which has been home for Hyundai for over two decades.”
A Rs 5 crore cheque was handed over to N Muruganandam, principal secretary to government of Tamil Nadu, industries department, by Hyundai officials, the statement said.
NSE contributes Rs 26 cr to COVID-19 relief funds
Leading stock exchange NSE on Monday said it has contributed Rs 26 crore towards PM CARES Fund and a few state government funds in the fight against the novel coronavirus pandemic. The employees of the NSE Group are also separately contributing one day’’s salary towards the PM CARES Fund for this purpose, a release said.
“NSE is committed to supporting the government in the nation’’s battle against the pandemic and in providing assistance to alleviate the difficulties faced by the ecosystem due to COVID 19,” the release said.
The Prime Minister’’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) was set up on 28 March to raise money for combating the coronavirus outbreak and to provide relief to the affected people.
Political leaders, corporates, defence personnel, employees of PSUs such as railways, and Bollywood personalities have made contribution to the PM CARES Fund.
RBI to use any means necessary to revive growth: Shaktikanta Das
All-out efforts are needed to mitigate the adverse impact of the COVID-19 pandemic, and the RBI will use any instrument necessary to revive growth and preserve financial stability, according to the minutes of the central bank’’s policy meeting.
The Monetary Policy Committee (MPC), headed by Reserve Bank of India (RBI) governor Shaktikanta Das, was originally scheduled for 31 March, 1 and 3 April 2020, but was advanced in view of the coronavirus pandemic.
After the three-day meeting which ended on 27 March, the RBI reduced the key policy rate by 75 basis points.
To mitigate the economic difficulties arising out of the virus outbreak, the government of India has announced a comprehensive package of Rs 1.70 lakh crore, covering cash transfers and food security, for vulnerable sections of society.
As per the minutes of the MPC meet, released by the RBI, Das said the global macroeconomic situation has abruptly worsened in the last fortnight or so.
Auto dealers body FADA seeks boosters to support auto sales
FADA seeks extension in working capital limits, demand boosters to support auto sales, writes @Alisha2494 https://t.co/IlGjo8xqov
— CNBC-TV18 (@CNBCTV18News) April 13, 2020
Pandemic or not, cheaper dollar hedging to bolster US inflows
The coronavirus pandemic has slashed costs for foreign investors seeking to neutralize the currency exposure of owning dollar-denominated assets, making US securities more attractive and providing additional boost for the nation’s fixed income market.
Dollar hedging costs since the virus outbreak have declined by as much as 100 basis points for European and Japanese investors, two of the biggest overseas buyers of US assets. A significant factor in the reduction was the Federal Reseve cutting US interest rates to zero last month to mitigate the economic impact of the pandemic.
Additionally, the Fed is now actively backstopping every corner of the bond and credit sector, except distressed debt, and the US economy looks primed for what could be a slew of inflows from offshore investors in the coming weeks and months, analysts said.
For foreign investors, this is one big incentive for investing in the United States, even amid a global health crisis.
“It’s a global competition for capital. What matters here is the relative performance of each country in confronting the crisis,” said Robert Brauns, portfolio manager for multi-strategy fixed income at BNP Paribas Asset Management in New York.
Max Life Insurance, Yes Bank announce 5-year extension of partnership
Max Life Insurance and Yes Bank on Monday announced a five-year extension of their strategic bancassurance relationship, reaffirming their commitment to invest in building a digitally-enabled ecosystem that will provide a seamless experience for customers in their financial planning and protection journey.
Building on the 15-year partnership, both companies said they remain committed to offering customers a broad range of need-based products and services, deploying technology across the customer value chain to further enhance efficiencies and leveraging existing ecosystems to facilitate superior experiences for their customers.
Sensex falls over 250 points, Nifty holds 9,000-mark
The Sensex fell 260.98 points or 0.84 percent to 30,898.64 while the Nifty was down 65.50 points or 0.72 percent at 9,046.40 at around 12.50 pm.
Bajaj Finance, Titan, Mahindra & Mahindra and Tech Mahindra were the top losers in the Sensex pack.
Bandhan Bank reports 60% jump in loans, advances to Rs 71,825 cr in FY20
Bandhan Bank said on Monday its loans and advances grew by 60 percent to Rs 71,825 crore in the financial year ended 31 March from Rs 44,776 crore in the year-ago period.
The growth was aided as Ahmedabad-based Gruh Finance — the affordable housing finance arm of HDFC Ltd with a loan portfolio of Rs 17,700 crore — merged with the Kolkata-based lender.
Total deposits of Bandhan Bank increased by 32 percent to Rs 57,073 crore in FY 20 from Rs 43,232 crore in FY 19.
Capital Float raises $15 mn in equity funding
Bengaluru-based digital lender Capital Float announced on Monday it has completed a $15 million (Rs 110 crore) equity fund-raise from its existing investors.
Participants in the round included Ribbit Capital, Amazon, SAIF Partners and Sequoia Capital India.
The company said in a statement it would be using these funds to bolster its capital base and expand its lending operations to SMEs and consumers.
“With this new addition, the total equity raised by Capital Float till date stands at USD 125 million (Rs 800 crore), said the company which has also raised $300 million (Rs 2,200 crore) in debt funding to date.
Since its inception, Capital Float said it has disbursed over $1.2 billion (Rs 8,800 crore) and has more than half a million customers in India.
GETI, TARGETplus ink pact to train principals, teachers
Global Education & Training Institute (GETI), working in partnership with Ed Tech company TARGETplus, has been training school principals and teachers on how to maximise learning and ensure universal participation, said Sunita Gandhi, Founder, GETI.
A quick online training in Zoom by GETI trainers across the nation is followed by training in Google Classroom and active use of WhatsApp, she said.
As many children could not get their course books before the lockdown, GETI is providing them their e-books of child-centric textbooks which are perfect for home-schooling. Children carry out the hands-on activities provided on teacher / parent pages that help make learning real.
“The key is proper structuring of the online lessons and building confidence of teachers, showing them how quick and easy it is. The result is excitement and creativity we had not imagined. Teachers and children are getting hooked, and it is shifting everyone’s thinking about how to teach and learn by effectively integrating technology,” said Gandhi.
Even without online access, WhatsApp on mobiles has proven sufficient. The results in several smaller cities and rural areas like Chikmangalore in Karnataka, or Dibrugarh in Assam have also shown highly encouraging results, she said.
Tata Motors stake jumps 4% from lows
#CNBCTV18Market | Tata Motors turns positive, up 4% from lows pic.twitter.com/SWmdFqKPoB
— CNBC-TV18 (@CNBCTV18Live) April 13, 2020
Google chief Sundar Pichai donates Rs 5 cr to Give India
Google chief Sundar Pichai has donated Rs 5 crore to Give India, matching Google’s earlier donation to the non-profit organisation for the coronavirus pandemic.
“Thank you @sundarpichai for matching @Googleorg’s Rs 5 crore grant to provide desperately needed cash assistance for vulnerable daily wage worker families…,” Give India said in a tweet.
Thank you @sundarpichai for matching @Googleorg 's ₹5 crore grant to provide desperately needed cash assistance for vulnerable daily wage worker families. Please join our #COVID19 campaign: https://t.co/T9bDf1MXiv @atulsatija
— Give (@GiveIndia) April 13, 2020
IMF to consider $1.4 bn loan to Pakistan
The International Monetary Fund (IMF) is all set to consider a loan of $1.4 billion for cash-strapped Pakistan to boost its foreign exchange reserves in the wake of the economic slowdown due to the coronavirus crisis.
The $1.4 billion loan is in addition to the USD 6 billion bailout package that Pakistan has signed with the IMF in July last year to stave off a balance of payment crisis.
The global money lender has called its executive board meeting on 16 April to consider an extra loan of $1.4 billion for Pakistan to boost its foreign exchange reserves and extend budgetary support in the wake of the economic slowdown the country is facing due to the deadly viral infection, the Express Tribune reported on Monday.
Pakistan in March had requested the IMF for a low-cost, fast-disbursing loan under the fund’’s Rapid Financing Instrument (RFI) to deal with the adverse economic impact of COVID-19.
Eupheus Learning offers digital solutions to students
Startups are reaching out to students either directly or indirectly through the schools. In the current situation, when schools are closed, the urgent need is to address how schools can continue to impart knowledge using digital methods – be it through virtual classrooms or access to learning resources, said Sarvesh Srivastava, co-founder and MD, Eupheus Learning.
“We at Eupheus Learning are offering such solutions to schools. However, such initiatives cannot bridge the digital divide. Nearly all solutions assume the learner to have online or mobile access to the solutions being offered. Nevertheless, given the current penetration of smart mobile phones it is safe to assume that a large segment of the student population could potentially benefit from these digital solutions.”
Benchmark indices recover as Sensex regains 31,000-mark
The market recovered sharply in the afternoon trade as the Sensex was trading 148.55 points or 0.48 percent lower at 31,011.07 while the Nifty was down 48.30 points or 0.53 percent at 9,063.60 at around 12.05 pm.
Chennai Ranks #1 in Challan Checks: ACKO Insights for Smarter Car and Two Wheeler Insurance Decisions
Chennai leads India in challan checks, with drivers checking their e-challans over 5 times a month on average. Helmet non-compliance is the most broken rule, accounting for 34.8% of all traffic offences in Chennai. Regular digital challan checks help drivers avoid hefty fines, promote safe driving, and improve insurance premiums.
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