Viewpoints of Spokespersons on the recent RBI Monetary policy

 Views of Ms. Anagha Deodhar – Chief Economist,
ICICI Securities on the RBI Monetary policy

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As expected, the MPC voted unanimously to keep repo rate unchanged and the stance of monetary policy ‘accommodative as long as necessary’. The decision to hold rates came on the back of a difficult backdrop of slowing growth are rising inflation. The MPC upped inflation forecast for better part of FY22 by 20-30bps and lowered GDP growth forecast sharply to 9.5%, mainly due to lower than expected growth in H1FY22. This shows that the committee’s priority is supporting growth recovery. The RBI also announced on-tap liquidity window of Rs 150bn for contact-intensive sectors, additional liquidity facility of Rs 160bn to SIDBI and enhanced the threshold for resolution. Moreover, it announced purchase of government securities worth Rs 1.2trn under GSAP 2.0 in Q2FY22. All these measures together are likely to keep financial conditions in the economy benign and support recovery.

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 Client: Muthoot Finance

“RBI left the policy rates unchanged for sixth straight time and has avowed to continue accommodative stance as long as necessary to revive growth and help sustain it on a durable basis. This commitment by the central bank was supported by additional measures announced today such as a separate liquidity window of Rs. 15,000 crore for certain contact-intensive sectors and enhancing exposure threshold to Rs. 50 crore from Rs. 25 crore for MSMEs, small businesses and individuals for business loan purposes under Resolution Framework 2.0. Such steps will help borrowers to better mitigate the impact of pandemic’s second wave and we stand resolutely with every Indian to support all finance needs for a truly Atmanirbhar Bharat.”

Views of Indranil Pan, Chief Economist - YES BANK on the RBI Monetary policy

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As was expected, there were no change in the headline monetary policy rates as also the stance. In his statement, the Governor acknowledges the growth risks and now projects a lower real GDP growth for the year at 9.5%. Inflation projections have been raised too. Given the current evolution of the growth-inflation dynamics, there was absolutely no scope for the RBI to change its policy rates. Instead, the RBI endeavoured to keep the system fluid with adequate liquidity and also targeting rescue operations for the most stressed sectors in the economy. Consequently, a liquidity window was opened up for the contact intensive sectors that continue to totter with the burden of the pandemic. SIDBI was provided with a special liquidity facility to on-lend to MSMEs, specially the smaller ones. To enable the government to borrow at attractive rates, another round of bond buying was announced under G-SAP 1.0 while a G-SAP 2.0 was announced. We think that over the current FY, the RBI will not have any leeway to change its interest rates to provide support to the economy. Instead, it will do whatever necessary to push credit and liquidity to the stressed areas of the economy so as to prevent erosion of the supply chains in the economy.

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Client: Bank of India

Policy a fine balancing act between growth and inflationary expectations

Policy yet again proved to be a fine balancing act between growth and inflationary expectations. Expanding the scope of Covid 2.0 resolution framework coupled with the recent ECLGS modification is a welcome move to support the needy segments.

Shri A. K. Das, Managing Director & CEO, Bank of India

Client: Shriram Transport Finance

RBI’s monetary policy today was along expected lines with status quo on rates and continued accommodative stance. While the central bank acknowledged that the spread of Covid-19’s second wave into rural areas had brought forth downside risks and a slight reduction in GDP estimates for the year, the forecast of a normal monsoon bodes well for pickup in demand indicators going ahead. In continuation of a slew of measures taken by RBI since the start of the pandemic to better mitigate its impact on businesses & economy, there were additional ones announced today such as a separate liquidity window of Rs. 15,000 crore for certain contact-intensive sectors like supply chain, private bus operators, rent-a-car service providers, vehicle repair services among others. Such steps will keep liquidity abundant and financing conditions congenial necessary for preserving financial stability of all stakeholders.

Client: CREDAI

“RBI continues to maintain an accommodative stance as it is crucial to mitigate the impact of COVID Pandemic. Focus on equitable distribution of liquidity is expected to solve the fund shortage crisis to an extent. Modifying the ECLGS scheme and clear instructions to banks & other financial institutions on sanctioning funds to labour intensive sectors like Real Estate is the need of the hour. Moratorium on principal & interest for 6 months and freezing of SMA classification for another year will aid revival of businesses and thus the economy. The impact of the second wave on large businesses which provide millions of livelihoods is a lot deeper than it appears. MSMEs are staying afloat with the much needed support from the Government. Growing retail inflation coupled with increasing unemployment rates call for immediate & drastic measure from the Central bank.”

 

  

 

MuDiTa Express Cargo partners with

MuDiTa Express Cargo partners with SpiceJet for Covid19 vaccine distribution across India

India’s leading express logistics company, MuDiTa Express Cargo has signed an MoU with SpiceJet for distribution of Covid19 vaccine across India. With Cross dock facilities at all major cities and a pan India distribution network woven together by a fleet of Super Express Dedicated vehicles for distribution from major airports to Tier 2 and Tier 3 cities, MuDiTa has the capability to turn around Vaccine shipments in the shortest possible time.

Announcing the partnership, Amit Gulati, Director – MuDiTa Express Cargo, said, “Our vast network and in-depth reach across geographies of India will help in the last mile delivery of Covid19 vaccine in the country.  We have been at the forefront of distributing the Pulse Polio Vaccine on behalf of the Govt. of India for the last 20 years, and possess deep domain knowledge of the (minus) -20Degrees temperature control required for such movements.”

MuDiTa has been transporting vaccines for major pharma companies like Serum Institute, Sanofi India, Sun Pharma, Wockhardt, Glenmark, Panacea Biotec through the entire length and breadth of the country. The logistics company uses Air Transport, Refrigerated Trucks and Dedicated vehicles for the vaccine movements and has a vast vendor base across the country offering live GPS based trackers with continuous Temperature updates and Web Based tracking and recording.

 "We are trained to handle Dangerous Goods and have the necessary certifications to document, pack and transport Cold Chain Vaccines which are covered as Class 9 Packing Groups under UN 1845 Packing Instructions using Dry Ice as a packing material. Mission Critical deliveries are our forte and what could be more critical than the Covid19 vaccine”, added Amit Gulati.

SpiceJet facilitates insurance of

SpiceJet facilitates insurance of passengers for COVID-19 hospitalisation starting at ₹ 443/-

First and only airline in India to offer a medical insurance cover for hospitalisation due to coronavirus

·         Policy to be valid for a period of 12 months

·         Covers expenses from hospitalisation due to COVID-19 for up to ₹ 3 lakh & pre and post hospitalisation expenses for up to 30 and 60 days respectively

·         Covers hospitals (private, government, army), tests, medication & consultations as recognised by Government upon testing positive for COVID-19

·         No limit on ICU or room rent charges until the insured sum lasts

·         Insured can make a cashless or a reimbursement claim

SpiceJet, the country’s favourite airline and the biggest air cargo operator, has facilitated insurance cover for COVID-19 hospitalisation which can be availed by its passengers – a first-of-its-kind initiative by an airline in India. As part of our constant efforts to ensure the safety and well-being of our passengers amidst the pandemic, SpiceJet has joined hands with Go Digit General Insurance Limited through its Digit Illness Group Insurance Policy to offer this insurance cover that will further boost the confidence and morale of passengers.

Passengers can opt for the insurance cover ranging between ₹ 50,000 to ₹ 300,000 at a premium for as low as ₹ 443 to ₹ 1564 a year (including GST). The insurance covers hospital expenses and all pre and post hospitalisation expenses for 30 and 60 days respectively. The comprehensive cover includes tests, medication and consultations upon testing positive for COVID-19. 

Ajay Singh, Chairman & Managing Director, SpiceJet, said, “The health, well-being and safety of our passengers is our topmost priority and this medical insurance cover that we have facilitated is certainly relevant for the current times. It will further boost the morale of our passengers to travel freely and frequently. The insurance cover is not only very affordable but is also valid for a one-year period. I would also reiterate the fact that air travel was and remains the safest mode of public transport and we have not seen a single case of transmission of the coronavirus on a SpiceJet flight.”

This insurance has no restrictions on room or ICU rent. This implies there is no limit on ICU charges or room rent until the insured sum lasts.

The policy will be valid for a period of one year from the date of issuance and covers all types of hospitals including Private, Military, Army, Government etc. and ensures a zero-touch process to avail the claim. While making a claim, customers can either opt for a cashless claim post positive diagnosis report of Covid-19 or a reimbursement claim. Under cashless, the amount is settled with the hospital or the provider directly whereas in case of a reimbursement claim, the claim amount is transferred to the customer’s bank account. The claim process offered by Digit is completely “zero-touch” enabled by Audio Claims, Soft-copy Document submission & 24*7 customer care assistance.

The pandemic has taken a huge toll on people’s physical, emotional as well as financial health. At a time when anyone could face sudden health mishaps, health insurance plays an important role. With its association with Digit, SpiceJet has brought a product offering that is relevant -- available at low premium, offering comprehensive coverage in terms of hospitalisation and medication and a hassle free claim process.

To avail the cover, passengers can click on ‘Get Insured’ button at   https://www.spicejet.com/covidinsurance.aspx. By selecting the premium option and filling in the details of the members, customers can then proceed to pay and complete the enrollment.

IndiGo launches Tough Cookie campaign to

IndiGo launches Tough Cookie campaign to thank medical frontline warriors

Announces up to 25% discount for doctors and nurses serving during COVID-19

At a time when the country is grappling with the most unprecedented pandemic of our times, IndiGo has launched ‘Tough Cookie’ campaign on the occasion of National Doctor's Day to express gratitude towards the tireless commitment and service being given by the medical fraternity to the nation and humanity. As part of the campaign, IndiGo will provide up to 25% Tough Cookie discount on the airfares to the nurses and doctors who have serviced in these challenging times. As part of the initiative, IndiGo will track the Tough Cookie journey to make it special every step of the way, starting from a complementary cookie tin at check-in, welcome announcement at the boarding gate, special Tough Cookie sticker on the PPE and in-flight announcement giving them a warm welcome on-board.

The nurses and doctors will be required to provide valid hospital IDs at the time of check-in as a proof of their identity. The discount will be offered while booking through IndiGo’s website, valid for sale and travel from July 01, 2020 till December 31, 2020.

William Boulter, Chief Commercial Officer, IndiGo said, “At IndiGo, we understand and respect the commitment that India’s frontline workers have shown during these challenging times. This campaign is our way of expressing profound gratitude for the services of the medical community in the nation. This is a heartfelt gesture for frontline medical workers everywhere - the undisputed heroes of 2020 – and a small way for us to demonstrate our support and thanks for their indispensable efforts.”

The ‘Tough Cookie’ campaign has been conceptualised to thank the frontline workers who are constantly putting themselves at risk to save lives and contribute in our battle against COVID-19. The campaign is conceptualised on the back of the initiative to express our gratitude to the frontline workers. IndiGo will run a 360-degree campaign on multiple platforms including Print, OOH, PR, social media, along with other on ground and in-flight activations to promote the initiative, which will go on till the year end. Content including interesting videos, static creatives, giphys, will be published across social media platforms to engage customers and create awareness around the service provided by the medical fraternity. Here’s to the brave hearts, the fearless, and the selfless – our doctors and nurses – a grand IndiGo salute to these Tough Cookies!

கொரோனா பரவலை கட்டுப்படுத்த

கொரோனா  பரவலை கட்டுப்படுத்த அமல்படுத்தப்பட்டுள்ள ஊரடங்கால், நியூ அவாடி சாலை, அமைந்தகரை மற்றும் சுற்றியுள்ள குடிசை மாற்றுவாரிய பகுதிகளில் வசிக்கும் 200 க்கும் அதிகமான மக்களுக்கு சமூக ஆர்வலர் அதிதி மதுசூதனன் அத்தியாவசிய பொருட்களை வழங்கினார்

தின கூலிகளான இவர்கள் அனைவரும் தமிழக அரசின் குடும்ப அட்டை இல்லாதவர்கள். உதவிகள் கிடைக்கப்பெற்ற பயனாளிகள் பட்டியல் பெருநகர சென்னை மாநகராட்சி அதிகாரிகளிடம் அளிக்கப்பட்டு, தமிழக அரசின் நலத்திட்டங்களும் கிடைக்க வழிவகை செய்யப்பட்டுள்ளது. 

 கோவிட் 19 தொற்று பரவிவரும் இதுபோன்ற சூழ்நிலையில், பல்வேறு குடிசை பகுதிகளைச் சேர்ந்த 2000 க்கும் மேற்பட்ட குடும்பங்கள் அடையாளம் காணப்பட்டு அவர்களுக்கு தேவையான அத்தியாவசிய பொருட்கள் அளிக்கப்பட்டுள்ளன. 

நாள்தோறும் 30 க்கும் அதிகமான நாய்களுக்கும் சமூக ஆர்வலர் அதிதி மதுசூதனன் உணவளித்து வருகிறார்...

Social Activist Aditi Madhusudhanan distributed

Social Activist Aditi Madhusudhanan distributed Greater Chennai corporation's 200 dry ration kits to Daily Wagers & Non Ration Card holders at Aminjikarai for Covid 19 Pandemic.

 

Distributed almost 200 dry ration kits today in New Avadi Road, Aminjikarai and surrounding slums.The beneficiaries are non ration card holders and daily wagers.

A list of these beneficiaries is sent to the Officials at Greater Chennai Corporation, who in turn issue the dry ration kits to be distributed.

So far, during this Covid 19 pandemic, close to 2000 families from various slums have been identified and benefited with basic supplies.

Being an ardent Animal Lover, Social Activist Aditi Madhusudhanan  also  feeding around 30 + stray dogs on a daily basis .