Seeing these for the first time

In our present world, for the first time in our lives, we have seen the following:

a) A complete lockdown of countries globally 

b) Zero Economic Activity in many sectors 

c) Oil Prices going below zero 

d) 30 million Americans have filed for unemployment which is approximately 20% of their workforce. Similar credible data is not available for India, but we can see similar or worse trends here. 

e) We are seeing the biggest central bank and government fiscal interventions worldwide. In the US, the first set of monetary and fiscal stimulus was around $4.3 Trillion which is around 124% of their government revenue in 2019 (and more is coming). We have seen negligible fiscal stimulus in India so far and everyone has been waiting for announcements for the last several weeks. 

f) Escalation of geo-political tensions (US and China) or Oil Wars (Saudi Arabia and Russia). US and other countries are going after China as the cause of Coronavirus (generated in their Wuhan Lab). 

g) Disruption in supply chains leading to shortages of supply for products everywhere and now demand side crisis because of the economic impact. 

This means we have a pandemic, an equity market crisis, oil market crisis, bond market crisis, a currency crisis in the making, a supply and demand side crisis all at the same time. 

In short, the world is changing at a faster pace than ever before. A few months back words such as contact tracing, social distancing and flattening the curve were not even a part of our vocabulary.

Yes Bank depositors cannot withdraw more than Rs 50,000; RBI imposes moratorium

The Reserve Bank of India has imposed a moratorium on Yes Bank on Thursday. Yes Bank cannot pay depositors more the Rs 50,000 during the moratorium period. Also, the depositors won't be able to withdraw more than Rs 50,000 irrespective of the number of accounts held with the bank.

Citing a steady decline in Yes Bank's financial health and its inability to raise capital despite its multiple efforts, the RBI has taken the following measure.

Citing a steady decline in Yes Bank's financial health when the bank started facing regular outflow of liquidity, and its inability to raise capital despite making many efforts, the RBI took this decision.

Meanwhile, the central bank in consultation with Central Government has superseded the Board of Directors of Yes Bank for a period of 30 days owing to serious deterioration in the financial position of the Bank.

Yes बैंक जमाकर्ता 50,000 रुपये से अधिक नहीं निकाल सकते हैं; आरबीआई स्थगन लागू करता है

भारतीय रिजर्व बैंक ने गुरुवार को यस बैंक को मोहलत दी है। यस बैंक जमाकर्ताओं को अधिस्थगन अवधि के दौरान 50,000 रुपये से अधिक का भुगतान नहीं कर सकता है। साथ ही, जमाकर्ता बैंक के साथ रखे गए खातों की संख्या के बावजूद 50,000 रुपये से अधिक नहीं निकाल पाएंगे।

Yes बैंक के वित्तीय स्वास्थ्य में लगातार गिरावट और इसके कई प्रयासों के बावजूद पूंजी जुटाने में असमर्थता का हवाला देते हुए, आरबीआई ने निम्नलिखित उपाय किया है।

Yes बैंक की वित्तीय सेहत में लगातार गिरावट का हवाला देते हुए जब बैंक ने तरलता के नियमित बहिर्वाह का सामना करना शुरू किया, और कई प्रयासों के बावजूद पूंजी जुटाने में असमर्थता, आरबीआई ने यह निर्णय लिया।

इस बीच, केंद्रीय सरकार के परामर्श से केंद्रीय बैंक ने बैंक की वित्तीय स्थिति में गंभीर गिरावट के कारण 30 दिनों की अवधि के लिए येस बैंक के निदेशक मंडल को अलग कर दिया है।

German doctors pose naked to protest protective equipment shortages

German medical workers is calling attention to the working conditions and protective equipment needed by frontline workers amid the coronavirus pandemic.

"Blanke Bedenken," shows photos of apparently nude people, some of whom are partially obscured by medical equipment, paperwork and other props, including stethoscopes, anatomical skeletons and even toilet rolls.

"We are your GPs. To be able to treat you safely, we need protective gear. When we run out of the little we have, we look like this."

As the coronavirus pandemic spreads around the world, healthcare workers on the frontline of the fight against Covid-19 in countries around the world have warned of shortages of personal protective equipment (PPE).

"Due to worldwide rapid rise of Covid-19 infection numbers the demand for medical supplies, such as gloves, breathing masks, protective clothing and ventilators, increased. This led to worldwide supply shortages," a spokesman for Germany's Federal Ministry of Health told CNN in a statement.

India's History of Ideas

 

Koi Bole Ram Ram (hymns from Sri Guru Granth Sahib ji - page #885) shabad by Bhai Jaswinder and Saathi

UK says India will manufacture the Coronavirus vaccine

India is among the largest manufacturer of generic drugs and vaccines in the world. It is home to half a dozen major vaccine makers and a host of smaller ones, making doses against polio, meningitis, pneumonia, rotavirus, BCG, measles, mumps and rubella, among other diseases.

The world's largest vaccine maker is producing 40 million units of a coronavirus vaccine on trial in Oxford.

Serum Institute of India, the world's largest vaccine maker by number of doses produced and sold globally... Now the firm has stitched up collaboration with Codagenix, an American biotech company, to develop a "live attenuated" vaccine, among the more than 80 reportedly in development all over the world... "We are planning a set of animal trials [on mice and primates] of this vaccine in April. By September, we should be able to begin human trials," said Adar Poonawalla, chief executive officer of Serum Institute of India.