#Forex trading stock market institute in Delhi

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Forex stock market course in Delhi

Market Mind is proud to offer one of the most comprehensive Forex trading courses in Delhi. Designed for beginners and experienced traders alike, this course covers everything you need to know to confidently enter the world of Forex trading. Whether you are looking to learn the basics or sharpen your existing skills, our well-structured curriculum will guide you through each step of the process.

Forex Trading Stock Market Institute in Delhi

As a leading Forex trading stock market institute in Delhi, Market Mind is committed to providing high-quality education and practical experience. Our experienced mentors ensure that students gain hands-on exposure to real trading environments. This helps them develop the skills required to succeed in the ever-evolving Forex market.

Best Forex Trading Course in Delhi

Market Mind’s program is known as the best Forex trading course in Delhi because it combines theoretical knowledge with practical exercises. We focus on helping our students develop strategies that work in real market conditions. With a focus on building confidence, our course ensures that traders are ready to make informed decisions in the fast-paced Forex market.

Top Rated Forex Trading Institute in Patel Nagar

Conveniently located, Market Mind is a top-rated Forex trading institute in Patel Nagar. Our institute is known for providing personalized attention and a supportive learning environment. Students not only learn about Forex but also receive insights from professional traders, enabling them to understand the market from multiple perspectives.

Best Forex Trading Institute Near Me

Looking for the best Forex trading institute near you? Market Mind offers a course that is perfect for those who want to start or enhance their Forex trading journey. With our institute’s approachable mentors and flexible learning schedules, you’ll find everything you need to succeed in Forex trading right in your neighborhood.

Forex Stock Market Course in Delhi

The Forex stock market course in Delhi at Market Mind covers key concepts such as currency pairs, leverage, risk management, and much more. We ensure that each student receives a comprehensive understanding of how the Forex market works, providing them with the skills to trade successfully and manage their portfolios.

Forex Trading Institute in Patel Nagar

Market Mind is your go-to Forex trading institute in Patel Nagar. We offer students a blend of theoretical knowledge and practical trading experience. Whether you’re looking to pursue Forex trading as a full-time career or just want to understand how the market works, our course will guide you on the right path.

ConclusionMarket Mind stands as a leading Forex trading institute in Patel Nagar, offering one of the best Forex trading courses in Delhi. With a focus on providing both theoretical and practical knowledge, our course prepares students to navigate the complexities of the Forex market confidently. Whether you're a beginner or an experienced trader, our expert mentors will guide you every step of the way. Our goal is to equip you with the skills and strategies needed to succeed in the world of Forex trading, making us your ideal choice for quality financial education.

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Forex Course | Forex Course in Delhi

Learn Forex Trading Course in Delhi at affordable prices. Under the guidance of experts, learn forex trading and share market tips.

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Sri Lankaʹs Economic Crisis

Sri Lanka is in the midst of a serious economic crisis, with the government running out of foreign money and unable to pay for essential imports like fuel, food, and other necessities.

Huge debt caused by years of cumulative borrowings, high inflation, a lack of international currency, key sectors experiencing a sharp drop in demand due to the pandemic, and alleged poor governance are just a few of the factors that have dragged Sri Lanka into not only an unimaginable financial downturn but also enormous political unrest.

After the country depreciated its currency sharply last month, just ahead of talks with the International Monetary Fund (IMF) for a loan program, Sri Lankans have been suffering from rising costs and shortages. The negotiations are still ongoing.

Sri Lanka is experiencing its biggest economic crisis since gaining independence in 1948. The cost of basic necessities such as food, fuel, and medicines has risen dramatically. Rice costs 500 Sri Lankan rupees per kilogram, while sugar costs 290 rupees. In Indian Rupees, this is roughly Rs 126 and Rs 73, respectively. Even for basic necessities, citizens must wait in lines for hours. Troops have been stationed at state-run petrol outlets to facilitate distribution. In the sweltering heat, the residents have to bear daily power outages of more than seven hours.

Many people blame the current situation on successive Sri Lankan administrationsʹ economic mismanagement. The countryʹs tourism sector, which is one of the countryʹs largest revenue producers, has been severely hit by the 2019 series of bomb bombings in Colombo. The Covid epidemic exacerbated the problem.

The Finance Minister has been ousted, several Cabinet ministers have resigned, and demands for the Presidentʹs resignation are growing louder. As the protests become stronger, the rest of the globe is left wondering what really is causing this turmoil.

The countryʹs economy was shut off from global markets as the crisis worsened. As a result, the FX reserve has decreased by about 70% in the last two years. As per Bloomberg, Sri Lanka had a $2.3 billion forex reserve in February and close to $7 billion in external liabilities, the majority of which was due in July.

In addition, the governmentʹs policy to phase out chemical fertilizers in 2021 has resulted in decreased rice yield this year. The present government, led by President Gotabaya Rajapaksa, has raised the debt. The President, on the other hand, has attributed the issue to the pandemic.

MP de Silva stated in a December statement in Parliament stated that the only way to bring the country out of its current dilemma is to seek assistance from the International Monetary Fund (IMF). He claimed that domestic efforts would be useless and that the countryʹs economy could only be rebuilt with the help of the International Monetary Fund (IMF). In late December, then-Agriculture Secretary Udith Jayasinghe cautioned reporters that the government may need to seek foreign assistance to feed the destitute and needy.

With national expenditure exceeding national revenue and imports exceeding exports, the South Asian republic has become a textbook example of a twin deficit economy. Itʹs evident that unless the country receives assistance, it may not be able to put itself back together. To withstand the crisis, it has requested financing from the Asian Development Bank, India, and China.

Sri Lanka has requested help from India and China. In addition to a $500 billion line of credit granted in February, India recently extended a $1 billion line of credit. Sri Lanka has also received food and gasoline from India. The Rajapaksa regime has asked New Delhi for an additional $1 billion.

Happy Trading, Happy Investing!!!

For more updates follow Aryaa Money which is an online share market training providing Institute engaged in Stock, Commodity, Forex market trading, training and consultancy services.

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Stock Trading and Investing

Businesses are growing on a daily basis and there are numerous of them that are being incorporated globally. One of the most popular and lucrative businesses of all times is that of Stock Market Trading. There are high chances of losses and risks in the field, but at the same time, there is no more profitable business venture than trading. You can trade using multiple assets and one of them is stocks.

All about Stocks and Stock Trading

A stock is also known as equity, and it represents an ownership of a fraction of a company. A unit of a stock is called as a share. All the stocks of different companies are held by a stock exchange where the exchange between these stocks take place. Stock trading are regulated by certain government regulations to prevent investors and traders from fraudulent activities. Basically, there are 2 types of stocks namely common and preferred, and these are issued by a company to raise funds for proper functioning of a business. Stock Trading is the process of selling and buying of shares of a particular company. Stock trading focus on short term profits rather than long term ones, at the same time without proper knowledge, the entire business will be riskier.

Stock trading is a process of buying and selling of stocks

There are mainly 2 types of stocks trading namely active trading and day trading

To start trading, you need to open a brokerage account which can be opened via a registered broker

A point to remember while trading with any asset is that invest only that much amount that you can afford to lose

Try to build positions gradually

There are several concepts of trading that must be well learnt and understood from no less than a professional, before jumping into the business. ICFM is one of the most sought after and reliable Best Stock Market Training Institute in India that offers various stock trading certificate courses for all interested students.

Investing in Stocks

If your investment or trade is well planned, then there will be significant profit with investing in stocks. Although the market is unpredictable, but with appropriate knowledge and strategy, you can master the art in no time. Some of the benefits of trading stocks are as follows:

Stock trading is smooth and continuous and at the same time it will give you a fraction of ownership of a company

Stock market provides for diversification as the stock values change independently and does not depend on the value of shares or bonds

Stock trading or investing offers the benefits of dividends, which is offered by the company

Investing is considered to be profitable in long run than trading

Stocks are one of the assets with high liquidity factor, which is the ability of an asset to be converted into cash

Unlike other assets, you don’t need to hold stocks for a long time, but they offer higher returns over a short period of time

SEBI regulates stock trading and investment

The most important benefit of stocks is that you can start investing a low amount initially

[stockmarketinstituteindelhi]

Top Stock Market Institute in Delhi

Under section 1956 of the Indian Companies Act, NIFM - National Institute of Financial Markets is registered under the name "NIFM Educational Institutions Ltd." One of the top institutions in the accounting, taxes, and financial markets is NIFM. We are a private vocational training center offering both long-term and short-term courses for the development of job-oriented skills, along with both in-person and online instruction.

We offer short-term crash courses on Stock Market, Share Market, Derivatives Market, Commodities Market, Forex Market, Technical Analysis, Fundamental Analysis, Futures & Options, Options strategy, Research Analyst, Investment Advisors, Mutual Funds, Insurance Sector, Banking Sector, and Tax Saving Instruments, etc. from basic to advanced. Our specialization is in Job Oriented Vocational Training Courses in Accounts, Financial Market & stock market segments.

Under the trade name IFMC Educational Institutions Private Limited, the Institute of Financial Market Courses (IFMC) Institute is registered. Our company's motto, "Ladder to Financial Success," inspires all career and knowledge seekers to advance their education and cultivate sharp brains. One of the most reputable brands in the stock market education industry right now is IFMC.

9,500 students are enrolled in more than 26 different programs at the institution, which is rated as India's top stock market institute. Our hardworking team of more than 50 technical analysts, research analysts, financial advisors, and other faculty members work in a meritocratic and expert environment under the direction of qualified stock market instructors.

The primary goal of ISM, or the Institute of Stock Market, is to expose students to the financial market through an ecosystem that is second to none and is heavily based on live trading models. Individuals can pursue the most lucrative trade of their lives if they have a strong conviction in successful mentoring and a desire to learn. Undoubtedly, making money is good, but what's equally significant is the constant pursuit of excellence, which is precisely what we strive for.

With the aid of our knowledgeable staff, they possess decades of unrivaled expertise. Learning Sharks Stock Market Trading Institute in Delhi has made arrangements to consistently set new standards in the share trading industry. by taking into account the aspirations of several students. through a curriculum that was creatively designed. It merely helps one understand how the stock market works.

We continue to strive to be a step above and offer top-notch instruction to students who want to succeed in the lucrative fields of stock market trading and investing.

[trade-wave]

Forex Trading Coaching in Delhi

Trading Pros and Cons

Leaving a full-fledged high paying job for something as risky as trading can be equally risky. You need to make every move carefully so as to ensure that there is less loss and more profit. Trading can be accomplished by using multiple assets or securities including shares, stocks, and Forex among others. Trade wave is one of the pioneer trading training companies that provide detailed insight into different strategies and techniques involved in the trading business. One just needs to have an interest in the domain irrespective of their academic background or qualification.

Pros and Cons of Forex Trading

Of the many available assets, people who are new to Forex Trading Training in Delhi must be aware of the benefits as well as certain disadvantages of Forex. The Forex exchange market provides for high volatility and flexibility as there is no limit to the money that can be invested. There are a variety of trading options available for the Forex market, as the market provides high leverage and utmost transparency, unlike other assets. The transaction cost for Forex is low. Also, pair of currencies is traded in the Forex trading, hence buying or selling is not there rather there is an exchange of assets. Some of the disadvantages of the same are as follows:

Regulation is difficult as forex is a global platform

Owing to high leverage, the amount of risk in forex trading is comparatively high

Operation and management of Forex trades are difficult

Forex Training at Tradewave

Tradewave is one of the pioneer Forex Trading Coaching in Delhi that provides sufficient information on forex trading. It provides an array of short-term certificate courses that are suitable for students at all levels of knowledge. The available programs are:

Introductory courses which are more suitable for complete beginners

In-depth courses on trading tools, CFDs and stocks, commodities and futures contracts, and trading strategies

The academy has state of art infrastructure and it also provides easy online classes. The tutors and trainers here are well experienced and experts in the respective domain, the focus of which is totally on providing practical trading exposure rather than just theoretical knowledge. Not limited to Forex, the academy does provide trading in other securities as well including stocks and shares. It is, therefore, one of the most efficient and reliable providers of Forex Trading Institute in Delhi.

Why So Hype About Trading?

Trading is a lucrative business and that is the reason enough to get into the domain. But leaving behind everything for a risky affair is quite difficult and must be calculative. Trading is quite volatile and a short-term business opportunity while on a contrary investing is a long-term process and requires a long-term association. The benefit of trading is profit which is quite instant in comparison to investing. There are many participants in the process that includes a broker, traders, and investors, who all come together on a common platform to exchange entities or assets with each other. Trading hence becomes more dynamic with the rising number of traders and trades.

[primestockscoaching]

Importance of Technical Analysis in the Stock Market

Technical analysis is a way to forecast the market change of a share price on the basis of itspast results. Experts in technical analysis assume that,past fluctuations in a share price decide the future  price of stocks.

Technical analysis is the study and use of price and volume charts and other technical indicators to predict future price movements of stocks. With proper and efficient use of various techniques, you can forecast future price movements almost accurately. The techniques used in technical analysis works well in all stocks, commodities, forex, and derivatives markets. Technical Analysis is basically used for short-term trading whereas Fundamental Analysis used for long-term investment.

Technical Analysis is broadly based on three assumptions :

Price discounts everything

Price moves in trends

History tends to repeat itself

Technical analysis is a forecast pattern for a security price movement that is normally capable of buying and selling in the stock market. It is the demand and supply of a security that is expressed in price movements.. The technical analysis applies primarily to price shifts.

General Steps to Technical Evaluation

Many technicians use Top Down Approach . Such analysis involves 3 steps

1 Braoad market analysis through major indices.

Sector analysis to identify strongest and weakest sectors of economy

Individual stock analysis to identify the strongest and weakest stocks within the sector.

The beauty of technical analysis lies in its versatalilty . You don’t need to be a CA or CPA to analyse a chart. Charts are charts. It does not matter if the time frame is 2 days or 2 years. It does not matter whether it is a stock ,forex or commodity. The technical principles of support , resistance , trend, trading range and other aspects can be applied to any chart.

The final step that is synthesised by a technical anlystis  :

Strength of the current trend

Maturity of current trend

Risk to reward ratio of a new position

Potential entry levels for a new long / short position.

Here are some points that why technical analysis is important in the stock market:

Focus on price

Price movements usually precede fundamental developments. By focusing on price action , technicians autiomatically focus on the future.

2. Supply , demand and price action

Technicians use Open , High , Low , Close when analysing the price action of a security. There is information to be gleaned from each bit of  information.  Taken together , open  , high , low and close reflect the forces of demand and supply.

3. Support / Resistance

Simple  chart analysis can help identify support and resistance levels. These are usually marked by periods of congestion ( trading range ) where the prices move within a confined range for a long time period , telling us that forces of demand and supply are deadlocked. When the prices move above the trading range , it suggests that the demand is winning and if prices move below the trading range , it suggests supply is winning.

4  Pictorial price history

Charts are much easier to read than a table of numbers. With clear picture of charts , it is easy to identify the following :

Reactions prior to and after important levels.

Trading levels

Realtive strength of a stock versus overall market

Past and present volatility.

Assist with Entry Point

Technical Analysis can help with timing a proper entry and exit point. Fundamental Analysis tells u what to buy whereas Technical Analysis tells you when to buy a stock. Technical Analysis can help spot demand and supply levels as well as breakouts.

Prime Stocks is the Best Stock Market Institute in Delhi NCR that focuses on teaching the use of a blend of technical analysis and fundamental analysis that most of the times help in price predictions accurately.

[daily-media]

Some of the Tools to Consider to Facilitate Different Investments by S Ravi Fmr BSE Chairman

Sethurathnam Ravi (S Ravi) is a chartered accountant (CA) based in India, promoter and managing partner of Ravi Rajan & Co and the former Chairman of Bombay Stock Exchange (BSE). He also serves as an Independent Director of Tourism Finance Corporation of India. In 2019, Ravi also joined SBI Payments Services Pvt. Ltd as one of the Board Directors. Before joining BSE, Ravi served on boards of various companies such as, UTI Company Pvt Ltd., SMERA Ratings, SBI-SG Global Securities, STCI Finance, and BOI Merchant Bankers. He also serves as a member of SEBI��s takeover panel and Institute of Chartered Accountants of India.

Sethurathnam Ravi, former BSE chairman, shares some tips for smart investing to reduce investment risk.

Sethurathnam Ravi (S Ravi) is a chartered accountant (CA) based in India, promoter and managing partner of Ravi Rajan & Co, a consultancy and accountancy firm based in New Delhi, India and the former Chairman of Bombay Stock Exchange (BSE) (November 2017 to February 2019).

Mr. S. Ravi holds a Master’s Degree in Commerce and a Diploma in Information Systems Audit (DIS).  He is an Associate Member of the Association of Certified Fraud Examiners (CFE), USA, and is registered as an Insolvency Resolution Professional. In this article Mr. s Ravi sheds light into smart investing tips to reduce risk.

An individual's investment needs are driven by a variety of goals and objectives that are different from self / child education, child marriage, retirement needs, creating a fund for down payment for a home purchase, travel fund, and emergency fund.

Based on the needs and objectives of the investment, individuals evaluate their risk tolerance detail, time to achieve goals, and the ability to replace capital erosion.  Investment decisions are guided by the traditional investment principle of risk-return trade-off, which is related to high risk with high return.

According to S Ravi, the current markets offer a variety of investment products for investment needs such as fixed deposits, debt securities, equities, debt, equity or hybrid, SIPs, equities or hybrids, SIPs, ETFs, gold, real estate and currency. There are different types of risks associated with them, some of which are manageable and some of which are not. Market risk is the fluctuation of revenue due to macroeconomic factors and the political risks posed by changes in uncontrolled government policy changes.

Former BSE Chairman S Ravi also talks about price risk, which is the fall in the value of investment instruments, the loss of capital and the risk of inflation damaging purchasing power.  There are risks associated with interest rate fluctuations, default risk (from which the loan interest has not been repaid since), risk of fluctuations, i.e., daily / frequent fluctuations in prices, and concentration risk due to investment. The theme of a single type / sector / asset, including currency risk in terms of a portfolio of investments, includes investing in foreign markets / forex instruments.

S Ravi also provides certain tools that an individual may have, which should be considered to mitigate the various investment risks involved. Such as:

1.      Due diligence:

Due diligence is an investigation, audit, or review performed to confirm facts or details of a matter under consideration. In the financial world, due diligence requires an examination of financial records before entering into a proposed transaction with another party.

It is essential to do research before making an investment, says S Ravi.  For example, before investing in a stock, it is important to examine the revenue growth, PE ratio, debt load and management team and then compare them with other stocks in the same industry in key parameters.  Stocks with high PE ratio, unstable management, unstable profitability and revenue growth can be eliminated.

 2.   Capital allocation:

Deposit funds into different categories of debt, equity or a combination of both, depending on the growth requirement of the capital, of the total capital available for investment.  If a person starts investing at an early age, investing in equities that offer high returns on long-term investments will reduce the risk of instability and inflation.  Debt instruments, such as bonds, on the other hand, have higher inflation risk over time and are subject to interest rate fluctuations.

 3.  Portfolio diversification:

It includes a selection of different investment products, exposure to equity from different sectors, and a mix of different options available for equipment.  As a strategy, the potential for low returns may be minimized, but the risk of significant capital loss is mitigated.

4.   Monitoring portfolio:

This is essential at regular intervals.  For example, during periods of low interest rates, the price of debt securities may rise and the portfolio may change.  If an individual is unable to control oversight, it is a good idea to switch to mutual funds to save capital.

Currency risk needs to be assessed, i.e., in the case of IT and pharma sectors, opportunities arise when the rupee weakens, while in the case of Capital Goods & Power sector, strong rupee improves investment opportunities.

 5.  Blue chip stocks:

To mitigate capital losses and avoid liquidity risk, it is best to continue investing in belvetere stock or funds.  Investors should pay attention to the credit rating of debt securities and invest in securities with better ratings to avoid default risk.

Mr. S Ravi BSE also states that the amount of money invested, the duration of the investment, the income, growth, associated expenses and risk tolerance influence the achievement of investment objectives.  All types of investment products / securities carry some other risks. Before deciding on any investment, one should consider the risk appetite which is determined on the basis of wealth / net worth and risk capital at hand.  Investment decisions should be made so as not to jeopardize the lifestyle.

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Top rated Forex trading institute in Patel Nagar

At Market Mind, we offer a comprehensive Forex course designed for individuals looking to trade in the global currency markets. Our mission is to provide high-quality education and hands-on training in Forex trading so you can confidently navigate this dynamic market. With expert guidance and a well-structured curriculum, we ensure that our students are prepared for the challenges of Forex trading. 

Forex Trading Course in Delhi

Our Forex trading course in Delhi covers everything you need to know about the foreign exchange market. From understanding currency pairs to learning about leverage, pips, and lot sizes, our course equips you with the knowledge needed to start trading effectively. Whether you’re new to Forex or looking to improve your strategies, this course is designed to meet your needs.

Forex Trading Stock Market Institute in Delhi

As a leading Forex trading stock market institute in Delhi, Market Mind provides a practical approach to learning. We don’t just teach theories; we help you apply them in real trading situations. Through live market analysis and practice trades, you will gain the confidence to trade in the global currency markets.

Best Forex Trading Course in Delhi

Recognized as one of the best Forex trading courses in Delhi, our program is known for its thoroughness and practical focus. We cover everything from technical analysis to risk management, helping you develop a strong foundation for long-term success. Our experienced trainers offer personalized support, ensuring that each student fully grasps the concepts taught.

Top Rated Forex Trading Institute in Patel Nagar

If you’re looking for a top-rated Forex trading institute in Patel Nagar, Market Mind is the right choice. With a curriculum tailored to both beginners and experienced traders, we offer in-depth lessons on market trends, chart patterns, and trading strategies. Our institute is well-equipped to help you excel in the Forex market.

Best Forex Trading Institute Near Me

For those searching for the best Forex trading institute near me, Market Mind is your local solution. Conveniently located and highly regarded, our institute provides top-tier training with a focus on practical learning. Whether you want to start trading as a hobby or a full-time career, we’ll help you build the skills you need to succeed.

Forex Stock Market Course in Delhi

Our Forex stock market course in Delhi dives deep into the foreign exchange market, focusing on trading strategies, risk management, and market analysis. We teach you how to read charts, identify trends, and execute trades confidently. This course is ideal for anyone wanting to gain a deeper understanding of how the Forex market operates.

Forex Trading Institute in Patel Nagar

Located in Patel Nagar, Market Mind is a trusted Forex trading institute where you can learn from seasoned professionals. We provide hands-on experience with live trading platforms, allowing you to practice what you’ve learned in real-time. Our goal is to help you become a successful trader by offering practical knowledge and support throughout your learning journey.At Market Mind, our Forex course is designed to make you proficient in trading currencies, understanding market fluctuations, and making informed decisions. Whether you're a beginner or an experienced trader, we provide the guidance and tools you need to succeed in the world of Forex trading. Join us today and start your journey to financial independence!

[roberttecksmith]

IBBM is a premier chain of institutions in Delhi NCR and around the country and a pioneer in financial market education and is known for practical training of Stock Market (Commodity, Currency, FOREX, Derivatives, Technical Analysis, Arbitrage, Algo Trading etc). IBBM is backed by dedicated group of professionals who are active participants and have decade of experience in financial industry at national & international levels .

For Further Details visit www.ibbm.co.in, 8920039203/9810923254

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Icfm india Trading Academy Stock Market, commodity, forex Classes in Delhi

Institute of Career in Financial Market or ICFM is a well-recognised Stock Trading Academy that provides for short term certificate level courses for all interested students irrespective of their academic background or prior exposure. Get more info: https://www.quora.com/profile/ICFM-India-3/Icfmindia-Trading-Academy-Stock-Market-commodity-forex-Classes-in-Delhi

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DEMONETIZATION

Organizations such as Transparency International have rated India as comparatively higher on the corruption index compared to developed countries. Corruption is fast becoming a fact of life in India. To remove corruption, Black Money should be finished. In India, black money refers to funds earned on the black market, on which income and other taxes have not been paid. Demonetization is the step taken by the Prime Minister to fight against corruption and black money.

What is DEMONETIZATION?

The Demonetization of 500 and 1,000 banknotes was a policy enacted by the Government of India on 8 November 2016, ceas

ing the usage of all 500 and 1,000 banknotes of the Gandhi Series as legal tender in India after 9 November 2016.

Announcement was made by the Prime Minister Narender Modi in an unscheduled live televised address at 20:10 (IST) on 8th November. In the announcement Modi declared that use of all 500 and 1,000 bank notes of Mahatma Gandhi Series would be invalid after the midnight of the day, and announced the issuance of new 500 and 2,000 notes of the new series in exchange for the old banknotes.

The government claimed that the Demonetization was an effort to stop the current banknotes used for funding terrorism, as well as a crackdown on black money in the country. The move was also described as an effort to reduce corruption, drugs and smuggling.

Is this step already taken in the Past?

Historically, previous Indian governments had demonetized bank notes. In January 1946, the banknotes of 1,000 and 10,000 rupees were withdrawn and new notes of 1,000 and 5,000 and 10,000 rupees were introduced in 1954. The Janata Party coalition government had again demonetized banknotes of 1,000 5,000 and 10,000 rupees on 16 January 1978 as a means of cutting counterfeit money and black money.

In, 2012  the Central Board of Direct Taxes had recommend against demonetization may not be a solution for tackling black money or economy, which is largely held in the form of benami properties, bullion and jewelry.

AIM to achieve the vision of Digital India:

Most people have been exchanging their 500 and 1,000 rupees notes for more cash. But the Finance minister Arun Jaitely has also made it clear that the government wants to rapidly start a transition to a cashless society.

Other side the fight against corruption, is the Indian government’s key policy initiatives is Digital India, an ambitious plan,  to connect the country’s huge population to the internet and enter into the social and economic opportunities from which other country have benefited.

One of tech’s global leaders agrees that: Bill gates, the world’s richest man-and, through the Gates Foundation, a major philanthropist in India recently praised Modi’s policy. The company tells me it experienced a 300 percent increase in downloads of its app following the announcement and that it now has 150 million users.

The bold move is to demonetize high-value demonization’s…is an important step to move away from a shadow economy to an even more transparent economy. India’s digital payment startups have responded very quickly

Within days of announcement made by Modi, Paytm, which is based near Delhi, had produced several new advertisements urging Indians to adopt mobile money and avoid the hassle of dealing the cash.

Benefits of Demonetization

Black Money Will Be Out

The biggest advantages of demonetization is that it helps the government to track people who are having large sums of unaccounted cash or cash on which no income tax has been paid because people who earn black money keep that black money as cash in their houses or in some secret place which is very difficult to find and when demonetization happens all that cash is of no value, such people have only two options one is to deposit the money in bank account and pay taxes on such amount.

Illegal Activities Decreased

Since black money is used for illegal activities like terrorism, funding, gambling, money laundering and also inflating the price of major assets like real estate, gold due to demonetization all such activities will get reduced for some time and also it will take years for people to generate that amount of black money again and hence in a way it helps in putting an end to people doing illegal activities to earn black money.

TAX Revenue Increased

Another benefit is that due to people disclosing their income depositing money in their bank accounts government gets a good amount of tax revenue which can be used by the government towards the betterment of society by providing good hospitals, educational institutions, roads and many facilities for poor and needy persons of society.

Effects of Demonetization

    1.Cash Rush

The scarcity of cash due to demonetization to led to chaos, and most people holding old notebooks faced difficulties exchanging them due to endless lines outside banks and ATM across India, which became a daily routine for billions of people waiting to deposit or exchange the 500 and 1,000 banknotes since 9 November. ATM were running out of cash after a few hours of being functional, and around of the half the ATM in the country were non-functional.

Stock market crash

As a combined effect of demonetization and US presidential election, the stock market dropped to an around six month low in the week following the announcement. The day after the demonetization announcement, SENSEX crashed nearly 1689 points.

Seizures of new Rs. 2,000 notes

Huge amount of cash in the form of new notes were seized all over the country after the demonetization.

Income tax raids and cash seizures

The Finance Minister instructed all revenue intelligence to join the crackdown on forex traders, hawala operators and jewelers besides tracking movement of demonetized currency notes. Income Tax department raided various illegal tax-evasive in Delhi, Mumbai, Chandigarh, Ludhiana and other cities that traded with demonetized currency.

How to Exchange old notes

The Reserve Bank of India laid down a detailed procedure for the exchange of the demonetized bank notes with 500 and 2,000 notes of the Mahatma Gandhi New Series and 100 banknotes of the preceding. Following are the key points:

 Citizens will have until 30 December 2016 to tender their old banknotes at any office of the RBI or any bank branch.

  Cash withdrawals from bank account were restricted to 10,000 per day and 20,000 per week account from 10 to 13 November 2016. This limit was increased to 24,000 per week from 14th November 2016.

 For immediate cash needs, the old banknotes could be exchanged for the new 500 and 2,000 notes as well as 100 banknotes over the counter of bank branches by filling up a requisition from along with a valid id proof. It was announced that this facility would be available until 30 December 2016.

    Initially the limit was fixed at 4000 per person from 8 to 13 November.

This limit was increased to 4500 per person from 14 to 17 November.

  This limit was reduced to 2000 per person from 18 November.

However, exceptions were given to petrol, CNG and gas station, government hospitals , railway and airlines booking counters, state-government recognized diaries and ration stores, and crematorium to accept the old 500 and 1,000 notes until 11 November, which was later extended to 14 November and once again to 24 November 2016.

“Perhaps the decision will be proved right, but at this point their hopes of future benefits must be weighed against the present pain. Even if demonetization ends up producing some gains, the question of whether it was sufficiently good its considerable costs will linger. The simple fact that no credible expert suggested such an extreme policy before Mr. Modi announced it makes many arguments in its support look like belated apologia.”

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Coronavirus Outbreak LIVE Updates: INS Jalashwa to evacuate residents of Kerala and Lakshadweep from Male on 15 May

11:05 (IST)

Coronavirus Outbreak in Uttar Pradesh Latest Update

Gurugram opens new dedicated COVID-19 hospital  

  In order to deal with rising COVID-19 cases in Gurugram, a new COVID-19 only facility has opened up in Manesar, Gurugram. This has happened as a coming together of Medanta – The Medicity, Fortis, Artemis and Medeor. 

The facility was opened to the public on Monday by Kundu, Haryana’s Additional Chief secretary and CEO, Gurugram Metropolitan Development Authority (GMDA) along with Ashok Sangwan, IAS, Commissioner, Gurugram, Vinay Pratap Singh, IAS, MCG Commissioner, Gurugram and Amit Khatri, IAS, Deputy Commissioner, Gurugram.

10:59 (IST)

Coronavirus Outbreak in Haryana Latest Update

Migrant labourer walking to Bihar killed near Ambala after being hit by car

A migrant labourer was killed while another seriously injured when a car hit them on the Ambala-Jagadhri highway near Ambala Cantonment on Tuesday morning, police said.

A group of migrant labourers told the police that they were headed towards their native village in Bihar's Purnia district from Punjab's Ludhiana on foot when the incident occurred.

The driver of the car fled the spot along with the vehicle after the incident, the police said, adding that they have got inputs about the vehicle and the driver would be nabbed soon. The deceased was identified as Ashok Kumar (25) while the injured labourer was admitted to the civil hospital at Ambala Cantonment, they said.

10:55 (IST)

Coronavirus Outbreak in India Latest Update

Rupee falls 22 paise to 75.95 against US dollar in early trade

The rupee depreciated 22 paise to 75.95 against the US dollar in opening trade on Tuesday amid strengthening American currency overseas and weak opening in domestic equities.

Forex traders said the local unit opened weak against the greenback tracking gains in the US dollar. Moreover, sell-off in domestic equities and rising coronavirus cases in the country weighed on investor sentiment.

The local unit opened at 75.89, then lost further ground and fell to 75.95 against the US dollar, down 22 paise over its previous close. It had settled at 75.73 against the US dollar on Monday.

10:46 (IST)

Coronavirus Outbreak in West Bengal Latest Update

CISF personnel succumbs to COVID-19 in Kolkata

An Assistant Sub-inspector of CISF deployed in Kolkata lost his life last night due to COVID-19 infection, according to Central Industrial Security Force (CISF) official, reports ANI.

10:42 (IST)

Coronavirus Outbreak in Bihar Latest Update

15 test positive for COVID-19 in Bihar, taking total to 761

Bihar reported 15 fresh cases of COVID-19, taking the state's virus tally to 761, a top health department official said on Tuesday.

While nine of the patients hail from Begusarai, two are from Darbhanga, one each from Nalanda, Samastipur, Sheikhpura and Supaul districts.

"We are ascertaining the infection trail," Health Department's Principal Secretary Sanjay Kumar said. Most of the patients are in the 20-40 age group, he said.

Coronavirus has spread to 37 of the state's 38 districts, leaving Jamui unaffected.

10:39 (IST)

Sensex slumps over 400 pts; Nifty drops below 9,200

Equity benchmark Sensex dropped over 400 points in the opening session on Tuesday dragged by losses in index-heavyweights HDFC twins, Reliance Industries and ICICI Bank amid weak cues from global markets.

After touching a low of 31,097.50, the 30-share index was trading 400.20 points or 1.27 percent lower at 31,161.02. Similarly, NSE Nifty declined 103.95 points, or 1.13 percent, to 9,135.25.

Asian Paints was the top loser in the Sensex pack, falling over 3 per cent, followed by HDFC duo, Maruti, ONGC, HUL, ICICI Bank and Kotak Bank.

Follow LIVE updates on stock market here

10:26 (IST)

Coronavirus Outbreak in India Latest Updates

INS Magar expected to arrive in Kochi with 900 Indians 

A total of 900 people have been already evacuated from Maldives with the second ship INS Magar expected to reach Kochi on Tuesday. The ship is carrying 202 Indian nationals including 24 women and a patient.

10:20 (IST)

Coronavirus Outbreak in India Latest Updates

INS Jalashwa to bring back Indians from Male on 15 May

As part of Samudra Setu Mission, Indian navy ship INS Jalashwa will sail again from Maldives capital of Male on Friday bringing back residents of Kerala and Lakshadweep. The ship had earlier brought back 698 Indians to Kochi on Sunday.

The ship, in its second ferry, was scheduled to bring people to Tuticorin but destination was changed since necessary approvals from Tamil Nadu government were not received.

INS Jalashwa of @indiannavy will sail again from #Maldives capital Male on Friday bringing back residents of #Kerala and #Lakshadweep; Residents of other states to be repatriated by special @airindiain flights to different destinations.#SamudraSetu #VandeBharatMission pic.twitter.com/paV0yGyvZx

— Prasar Bharati News Services (@PBNS_India) May 12, 2020

10:16 (IST)

Coronavirus Outbreak in Maharashtra Latest Updates

Special flight carrying 300 Indians to depart from Chicago for Mumbai 

A special flight carrying more than 300 Indians will shortly depart from Chicago for Mumbai on Tuesday. The flight will land in Mumbai in the early hours of Wednesday and then head to Chennai. 

USA: A special flight carrying more than 300 Indians to depart from Chicago for Mumbai shortly. The flight will touch down in Mumbai in the early hours tomorrow and will then head to Chennai. pic.twitter.com/5gAoNWAS2B

— ANI (@ANI) May 12, 2020

10:12 (IST)

Coronavirus Outbreak in Jammu and Kashmir Latest Updates

At least 169 Indian students arrive at Srinagar from Dhaka 

Bangladesh: 169 Indian students to return to Jammu and Kashmir's Srinagar from Bangladesh's Dhaka today, on an Air India special flight#VandeBharatMission pic.twitter.com/w35vlgQRJ4

— ANI (@ANI) May 12, 2020

10:07 (IST)

Coronavirus Outbreak in West Bengal Latest Updates

Special train from Bengaluru arrives in Bengal's Bankura with 1,200 passengers

A special train from Bengaluru, carrying around 1,200 passengers, arrived in Bankura on Tuesday morning, official sources said. The passengers included patients, labourers and students, he added.

The 22-coach train departed the Karnataka capital on 10 May and reached in Bankura after a two-day journey.

09:50 (IST)

Coronavirus Outbreak in Rajasthan Latest Updates

Jaipur reports 1,255 COVID-19 cases of Rajasthan's total at 4,305

Of the total 4,035 confirmed cases in Rajasthan, the maximum was reported in Jaipur with 1,255 COVID-19 positive cases being identified. More than half of the total 115 deaths were reported in the city with 59 COVID-19 patients succumbing to the infectious disease.

09:41 (IST)

Coronavirus Outbreak in India Latest Updates

Manmohan Singh's condition stable after complaining of chest pain, tests negative for COVID-19 

Former Prime Minister Manmohan Singh, who was admitted to All India Institute of Medical Sciences (AIIMS) after he complained of chest problems, is stable. He has been shifted out of the ICU and moved to a private ward of Cardio-Thoracic Sciences Centre (CTVS) unit of the institute

The 87-year-old senior Congress leader was admitted to the institute at 8.45 pm Sunday. "He was admitted for observation and investigation after he developed a febrile reaction to a new medication," said a senior doctor from the institute.

According to the sources, his COVID-19 report has come negative.

09:37 (IST)

Coronavirus Outbreak in Rajasthan Latest Updates

4,305 COVID-19 cases with 151 deaths reported in Rajasthan 

With 47 more individuals testing positive for the novel coronavirus in Rajasthan, the total number of COVID-19 positive cases in the state climbed to 4,305, said the health department. 

Two new COVID-19 deaths took the toll across the state to 151.

09:24 (IST)

Coronavirus Outbreak in India Latest Updates

Vande Bharat Mission: 12 flights carrying stranded Indian nationals to arrive today 

As many as 12 flights carrying stranded Indians, as part of the off-shore evacuation drive of nationals under the Vande Bharat Mission during the COVID-19 lockdown, will be arriving on Tuesday. 

The flights arriving today are - AI 1375 Manila to Ahmedabad, AI 162 London to Hyderabad, AI 144 Newark-Mumbai-Ahmedabad, AI 0381 Singapore to Delhi, AI 1242 Dhaka to Srinagar, AI 1924 Dammam to Kochi, AI 1377 Kuala Lumpur to Mumbai, AI 1375 Manila to Delhi, IX 350 Muscat to Chennai, IX 814 Dubai to Kannur, IX 384 Dubai to Mangalore and IX 485 Singapore-Bengaluru-Kochi. 

09:15 (IST)

Coronavirus Outbreak in India Latest Updates

3,604 fresh COVID-19 cases across nation take India's total to 70,756 

The total number of coronavirus cases in India climbed to 70,756 after more 3,604 individuals tested COVID-19 positive in the past 24 hours, said the health ministry on Tuesday. The COVID-19 toll reached 2,293 across the nation. 

The figure includes 46,008 active cases, according to the data released by the Ministry of Health and Family Welfare. 

The recovery rate stood at 31.7 percent after 22,454 COVID-19 patients were cured of the infectious disease. 

09:07 (IST)

Coronavirus Outbreak in India Latest Updates

Indian Railways to resume passenger services from Tuesday: Full list of trains and their timings

The Indian Railways is resuming passenger train service from Tuesday, 12 May. The Railways had stopped the functioning of passenger trains on 22 March in the wake of the coronavirus pandemic. A total of 15 pairs of special trains will be running from today.

As per the Ministry of Railways, these services shall be in addition to the Shramik specials for transporting stranded migrants which started from 1 May.

The Ministry of Railways posted the train timings on Twitter.

Read more here...

Passenger services on Indian Railways shall be partially restored w.e.f. from 12th May 2020 in a graded manner. 15 pairs of special trains shall be operated to 15 cities. Only online E-Ticketing will be done through IRCTC website. See attached list.https://t.co/HSfscqd7GQ pic.twitter.com/fUjBiTndDj

— Ministry of Railways (@RailMinIndia) May 11, 2020

08:52 (IST)

Coronavirus Outbreak in India Latest Updates

No wait listed train tickets issued: Indian Railways 

All social distancing norms to be followed at the stations and on the trains. Only asymptomatic persons and those with confirmed tickets can travel. No wait listed tickets issued, said RD Bajpai, Railways Executive Director.  

The Indian Railways will restart passenger train operations with special trains from New Delhi connecting Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad,Bengaluru,Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi on Tuesday.

All social distancing norms to be followed at the stations & on the trains. Only asymptomatic persons and those with confirmed tickets can travel. No waitlisted tickets issued: RD Bajpai, Railways Executive Director (11.05.2020) pic.twitter.com/6rhl1unRyA

— ANI (@ANI) May 12, 2020

08:42 (IST)

Coronavirus Outbreak in India Latest Updates

Train tickets worth Rs 10 crore sold to 54,000 passengers

Indian Railways sold train tickets to 54,000 passengers worth about Rs 10 crore within hours of bookings for passenger trains that begin operating a limited schedule from Tuesday, reported The Economic Times.

This marking the phased restart of interstate public transport after 49 days into lockdown.

"By 9.15 pm, approximately 30,000 PNRs had been generated and reservations issued to more than 54,000 passengers," the railway ministry said.

08:36 (IST)

Coronavirus Outbreak in India Latest Updates

30,000 tickets issued to 54,000 rail passengers in three hours

With passenger train services set to begin from Tuesday, the Indian Railways on Monday said reservations were issued to more than 54,000 passengers within three hours. 

Within minutes after booking started, all tickets across the three AC classes were sold out for Mumbai Central-New Delhi special train till 18 May, The Times of India reported.

Initially, the Railways announced booking of tickets on the IRCTC website on Monday from 4 pm, but the website did not respond due to huge traffic of prospective passengers. The services of the portal resumed around 6 pm.

08:19 (IST)

Coronavirus Outbreak in India Latest Updates

Lockdown likely to extend beyond 17 May, no easing of restrictions on public transport, say media reports

During his fifth meeting with the chief ministers of States, Prime Minister Narendra Modi hinted at a possible extension of coronavirus lockdown. He had asked for suggestions on easing of economic activities before 15 May, CNN-News18 reported.

Majority of CMs were in favour of relaxation in lockdown restrictions but raised concerns over reopening of public transport. 

07:55 (IST)

Coronavirus Outbreak in India Latest Updates

Centre releases Rs 6,195.08 cr to 14 states as per recommendations of 15th Finance Commission

The government released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the Post Devolution Revenue Deficit Grant on Monday.

"This would provide them additional resources during the coronavirus crisis," the finance ministry said in a statement Monday.

The grant was recommended by the 15th Finance Commission, and an equal first installment of the grant was issued by the Centre to states on 14 March.

On Monday, the Centre released advance payments of over Rs 1,276 crore to Kerala, followed by over Rs 952 crore to Himachal Pradesh and over Rs 638 crore to Punjab. Assam received Rs 631 crore, Andhra Pradesh Rs 491 crore, Uttarakhand Rs 423 crore, and West Bengal got Rs 417 crore.

07:47 (IST)

Coronavirus Outbreak Latest Updates

We have seven to eight top candidates for COVID-19 vaccine: WHO chief 

The World Health Organization chief said Monday there are around seven or eight "top" candidates for a vaccine to combat the novel coronavirus and work on them is being accelerated.

WHO Director-General Tedros Adhanom Ghebreyesus told in a UN Economic and Social Council video briefing that as per initial presumption two months ago it might take 12 to 18 months for a vaccine. But he said an accelerated effort is under way, helped by 7.4 billion euros ($8 billion) pledged a week ago by leaders from 40 countries, organizations and banks for research, treatment and testing.

"We have good candidates now," Tedros said. "The top ones are around seven, eight. But we have more than a hundred candidates."

He said the $8 billion will not be enough, and additional funds will be needed to speed up the development of a vaccine, but more importantly to produce enough "to make sure that this vaccine reaches everyone — (and) there’s no one be left behind."

07:33 (IST)

Coronavirus Outbreak in Maharashtra Latest Updates

Mumbai reports 14,355 cases of Maharashtra's total at 23,401

Of the total 23,401 COVID-19 cases in Maharashtra, over 14,000 were reported in Mumbai alone. With 791 fresh cases as of Monday, the total number of infected patients in the city climbed to 14,355.

Moreover, with 20 more deaths, the toll increased to 528, said Municipal Corporation Greater Mumbai.

In addition to this, 57 more confirmed cases in Dharavi, the largest slum area in the city, took the total number of COVID-19 patients in the area to 916. The toll stood at 29.

07:26 (IST)

Coronavirus Outbreak in Maharashtra Latest Updates 

23,401 COVID-19 cases in Maharashtra with 868 deaths

After reporting 1,230 fresh COVID-19 cases in the past 24 hours, the total confirmed cases of the novel coronavirus in Maharashtra reached 23,401 on Monday. Along with that, the toll in the state increased to 868 after 36 more fatalities were registered, said a health official. 

Coronavirus Outbreak LATEST Updates:  As part of Samudra Setu Mission, Indian navy ship INS Jalashwa will sail again from Maldives capital of Male on Friday bringing back residents of Kerala and Lakshadweep. The ship had earlier brought back 698 Indians to Kochi on Sunday.

The ship, in its second ferry, was scheduled to bring people to Tuticorin but destination was changed since necessary approvals from Tamil Nadu government were not received.

With 47 more individuals testing positive for the novel coronavirus in Rajasthan, the total number of COVID-19 positive cases in the state climbed to 4,305, said the health department.

Two new COVID-19 deaths took the toll across the state to 151.

The total number of coronavirus cases in India climbed to 70,756 after more 3,604 individuals tested COVID-19 positive in the past 24 hours, said the health ministry on Tuesday. The COVID-19 toll reached 2,293 across the nation.

The figure includes 46,008 active cases, according to the data released by the Ministry of Health and Family Welfare.

The recovery rate stood at 31.7 percent after 22,454 COVID-19 patients were cured of the infectious disease.

With passenger train services set to begin from Tuesday, the Indian Railways on Monday said reservations were issued to more than 54,000 passengers within three hours.

Within minutes after booking started, all tickets across the three AC classes were sold out for Mumbai Central-New Delhi special train till 18 May, The Times of India reported.

The government released Rs 6,195.08 crore to 14 states as the second equated monthly installment of the Post Devolution Revenue Deficit Grant on Monday.

"This would provide them additional resources during the coronavirus crisis," the finance ministry said in a statement Monday.

The grant was recommended by the 15th Finance Commission, and an equal first installment of the grant was issued by the Centre to states on 14 March.

On Monday, the Centre released advance payments of over Rs 1,276 crore to Kerala, followed by over Rs 952 crore to Himachal Pradesh and over Rs 638 crore to Punjab. Assam received Rs 631 crore, Andhra Pradesh Rs 491 crore, Uttarakhand Rs 423 crore, and West Bengal got Rs 417 crore.

As India registered a record jump of 4,213 COVID-19 cases in the last 24 hours, Prime Minister Narendra Modi in a virtual interaction with chief ministers said that the biggest challenge for the country will be to ensure that the infection does not spread to rural India and that the country will have to devise a "balanced strategy" to deal with the pandemic and step up the economic activities in a gradual manner.

Separately, the Union health ministry observed that some relatively large outbreaks have been noticed in particular locations and it is important to focus on containment efforts to ensure that the country does not reach the community transmission stage.

The government also said the coronavirus tracking app Aarogya Setu is secure as it was designed keeping in mind privacy of people and is playing a crucial role in India's fight against COVID-19.

Record jump in number of cases takes total infections to 67,152

In a press briefing on the COVID-19 situation in the country,the health ministry said that a record number of 4,213 COVID-19 cases and 97 deaths have been reported in the last 24 hours ending 8 am, taking the total cases to 67,152 and death toll to 2,206.

As many as 20,917 COVID-19 patients have been cured till now, taking the recovery rate to 31.15 percent. Also 1,559 patients have recovered in the last 24 hours, the highest number of recoveries in one day, the ministry said.

According to the health ministry data, Maharashtra has reported the highest number of infections (22,171) and fatalities (832) with Gujarat following with 8,194 cases and 493 deaths.

However, a PTI tally of figures reported by different states and Union Territories, as of 9.10 pm, put the nationwide tally of confirmed cases much higher at 70,480, showing an increase of more than 6,000 cases since Sunday morning. It showed 2,217 deaths and more than 22,000 recoveries so far.

Maharashtra reported 1,230 new cases, taking the state tally to 23,401, while its death toll rose to 868 after 36 more fatalities. Tamil Nadu reported 798 new cases and six more deaths on Monday. Mumbai's case count  reached 14,355 with 791 new cases detected on Monday, while its death toll is 528 now with 20 more fatalities. At least 57 new cases were reported from the city's Dharavi slums.

Gujarat saw 347 fresh cases and 20 more fatalities, including 268 cases and 19 deaths in Ahmedabad itself. In the National Capital also, more than 300 new cases were detected.

Fresh cases were reported from various other states as well including Punjab, Haryana, Kerala, Jammu and Kashmir, Karnataka, Bihar and Odisha

Health ministry advocates strong containment measures 

Asked if there has been community transmission of COVID-19 in India, joint secretary in the Union health ministry Lav Agarwal said "Some clusters have been found here (in the country), and in some cases in some particular locations relatively large outbreaks have also been noticed," adding that it was important to focus on containment measures so that the country does not reach the stage of community transmission.

Agarwal said the government's focus is on identifying pockets which have been reporting a larger number of cases so that strong containment measures can be implemented.

He also said that people who develop coronavirus symptoms should not go into hiding and come forward to report so that they get timely treatment and also do not spread the infection to their family members and others.

Ajay Sawhney, Chairman, Empowered Group 9, which deals with technology and data management, said the Aarogya Setu app has been developed to alert people before they come in contact with infected patients and to alert the health system. Information about 697 potential COVID-19 hotspots was generated through the app and it is secure,used only for health interventions and does not reveal identity of people, he said. Around 1.4 lakh Aarogya Setu users have been alerted via Bluetooth contact tracing about possible risk of infection due to proximity to infected patients, Sawhney said.

States demand greater freedom in deciding lockdown guidelines

Prime Minister Narendra Modi held the fifth virtual meeting with chief ministers of states to discuss strengthening the containment strategy and gradual resumption of economic activities as the third phase of the nationwide lockdown draws to an end on 17 May.

Economic activities in India are set to "gather steam", Modi told  the chief ministers, while asserting that the country will have to devise a "balanced strategy" to revive the economy and deal with COVID-19 with a sharp focus on ensuring that rural areas remain free from the pandemic, sources told PTI.

According to a statement released by the Prime Minister's Office, the prime minister also asserted that the world has fundamentally changed due to the COVID-19 pandemic and said that the new way of life would be on the principle of “Jan Se lekar Jag Tak”, from an individual to the whole of humanity.

"Even as we look at the gradual withdrawal of the lockdown, we should constantly remember that till we do not find a vaccine or a solution, the biggest weapon with us to the fight the virus is social distancing," he said.

Modi also thanked the chief ministers for their proactive role in the country’s fight against the pandemic and asked chief ministers to share by 15 May a broad strategy on how they want to deal with lockdown regime in their states.

"I am of the firm view that the measures needed in the first phase of lockdown were not needed during the 2nd phase and similarly the measures needed in the 3rd phase are not needed in the fourth," he said.

Chief ministers of at least three states demanded that states be given greater freedom in deciding lockdown guidelines. Some chief ministers also sought measures to expand the testing infrastructure, while many of them also demanded fiscal support for the states due to the pandemic having hit hard various revenue-generating economic activities

Punjab chief minister Amarinder Singh pitched for the extension of the coronavirus lockdown, but with a carefully crafted exit strategy backed by economic empowerment of states to save lives and secure livelihood. The decision on designating red, orange/yellow and green zones should be left to the states, which are more cognizant of the ground realities, he said.

Chhattisgarh chief minister Bhupesh Baghel reiterated the demand that states be allowed to determine green, red and orange zones and the level of economic activity permissible in the state. He also demanded Rs. 30,000 crore for implementing relief and welfare schemes.

Delhi chief minister Arvind Kejriwal asked for the resumption of economic activities in all parts of the National Capital barring the containment zones.

Economic activities should be allowed to resume in all parts of Delhi except containment zones: Chief Minister Arvind Kejriwal during video conference meet with PM Modi today #COVID19 pic.twitter.com/AP0AJCvGTp

— ANI (@ANI) May 11, 2020

// <![CDATA[ <script> // ]]>

During the meeting, Maharashtra chief minister Uddhav Thackeray said that a cautious approach must be taken while making any decision on the lockdown as the infection was expected to peak in May or June. He also demanded that central armed forces be deployed in the state as the police were under a lot of pressure and there were rising number of cases among police personnel. Thackeray also suggested that local trains be restarted for those providing essential services.

Kerala chief minister Pinarayi Vijayan said that states face different challenges and therefore should be given the freedom to make reasonable changes to the guidelines. He also demanded that states be allowed to resume metro ail services in cities, apart from those in the red zones.

States face different challenges & therefore should be given the freedom to make reasonable changes to the guidelines relating to the lockdown: Kerala Chief Minister Pinarayi Vijayan during video conference with PM Narendra Modi today #COVID19 pic.twitter.com/Vto44faona

— ANI (@ANI) May 11, 2020

// <![CDATA[ <script> // ]]>

However, the chief ministers of Tamil Nadu and Telangana opposed the resumption of train services from Tuesday and asked the Centre to push it back.

"We know from media that regular train service to Chennai (from Delhi) and from Chennai will commence from 12 May. As the positive cases in Chennai are showing an increasing trend, don’t permit train service up to 31 May in my state," Tamil Nadu chief minister E Palaniswami told Modi during the virtual meeting.

West Bengal chief minister Mamata Banerjee said on one hand, the Centre wants strict enforcement of the lockdown, on the other, it is resuming train services.

According to the statement, Modi said that the resumption of rail services was needed to rev up economic activity, but all routes will not be opened.

The Home Ministry earlier said that only asymptomatic people with confirmed tickets will be allowed to travel in 15 trains to be operational from Tuesday. Online bookings began for these trains on Monday evening, after some delay due to a technical glitch, and some routes got fully booked within ten minutes.

The Railways have been running 'migrant special' trains for ferrying migrant workers since May 1, but this will be the first time in nearly 50 days that the general public can also undertake train journeys even though flight and inter-state bus services remain suspended as of now till May 17, when the third phase of the lockdown is scheduled to end.

The first phase of the nationwide lockdown began on 25 March, which was supposed to be of 21 days, but it got extended later till 3 May and then further till 17 May with some relaxation.

With inputs from agencies

via Blogger https://ift.tt/35RJv0m

[ainvestops]

Sensex outlook: Coronavirus updates, SBI Card listing among key factors that may guide Dalal Street this week

NEW DELHI: Indian stock market plunged into bear territory last week after the coronavirus outbreak was termed a pandemic and the US suspended travel from Europe, threatening more disruptions to the business and the world economy.

The news around the pathogen is likely to hog the limelight this week, with infected and death counts increasing across the world. Movement in crude, FII selling and SBI Card listing are among other factors that may impact the movement of the market going ahead.

“This appears to be a great opportunity for investors to invest in quality compounders for the next decade and create wealth. Sectors such as FMCG sector, consumer durables, IT, private sector banks can be looked at for accumulation while cyclicals such as metals, PSUs should be avoided,” said Jimeet Modi, Founder & CEO, SAMCO Securities & StockNote.

Going by the buzz on Dalal Street, these are the factors that may guide the market in the coming week:

Coronavirus: Death count mounts India reported its second death as the number of infections climbed over 93 till Sunday morning. Indian Council of Medical Research warned community transmission of the virus in India is inevitable and then the new cases may increase rapidly.

A sharp rise in cases in the country may give the bears more ammunition to hammer equity markets.

Globally, the number of cases is moving rapidly towards the 1.5 lakh mark with Europe being the new epicentre, as per World Health Organisation. Italy has reported 1,266 deaths with total cases around 18,000. The US, which has over 2,000 active cases, declared a national emergency to battle the rapidly spreading virus.

Dip in oil prices to cut India’s bill Brent crude dropped 25 per cent last week, the biggest weekly fall since the 2008 global financial crisis. The US West Texas Intermediate (WTI) crude futures fell about 23 per cent on the week, also the biggest percentage decline since 2008.

The huge dip was due to a price war started by Saudi Arabia’s decision to reduce the oil price for preferred customers and Opec members planning to increase production.

“The demand outlook for oil was anyways weak, following the impact of Covid-19, and with the price crash, it is expected to put extra pressure on the global GDP growth. However this will benefit India, being a net importer of oil, and will give more fiscal manoeuvring room for the government to stabilise the economy,” said Vinod Nair, Head of Research at Geojit Financial Services.

SBI Card listing SBI Cards and Payments (SBI Card) is scheduled to debut on the bourses on Monday, March 16. Going by the trends in unofficial markets for unlisted shares, the issue may see a flat to discount listing. If that is the case then HNI investors who borrowed money to invest with hopes of listing gains may take a hit.

However, some Dalal Street analysts said a huge amount refunded by the company to those who were not allocated the shares may be diverted to the stock, providing some support.

AGR issue There could be more clarity on the AGR issue for telcos this week as the Supreme Court’s deadline to pay the amount ends on March 17. The apex court is scheduled to hear the AGR matter on the same date.

Bharti Airtel has asserted that it has paid the amount in full as per its own assessment. Tatas have also said the same. Telecom firms have calculated the amount dues much lower than the estimates by the Department of Telecom.

Meanwhile, the department will carry out reassessments on the basis of documents submitted by telcos on self-assessment of AGR dues as per licence agreement, and issue revised demand notices, Minister of State for Communications Sanjay Dhotre said in a written reply to Rajya Sabha.

YES Bank saga Twists and turns in the unfolding YES Bank saga sees no end. The government on Friday announced the restructuring scheme for the private lender, but the clause that investors who hold 100 shares will have a lock-in for 75 per cent of their holding for three years. The announcement has irked many retail investors and shares of the lender may see some volatility in the coming weeks.

Yes Bank late on Friday reported a loss of Rs 18,564 crore for the December quarter against a profit of Rs 1,000 crore a year ago.

FII dumping shares Foreign institutional investors hammered Indian shares last week. They withdrew a net Rs 19,613 crore from the markets in just four sessions as per NSE data compiled by Accord Fintech. In March till now, foreign money managers have pulled out Rs 30,334 crore from Indian equities as ETF redemptions have grown.

If they continue the trend, the sentiment on Dalal Street will dampen further.

WPI data due Traders will keep an eye on wholesale price inflation (WPI) data for the month of February, scheduled to be released on March 16. WPI in India rose 3.1 percent year-on-year in January 2020, following 2.59 percent gain in the previous month. It was the highest wholesale inflation rate since April last year, driven by a rebound in cost of both manufacturing and fuel.

Forex reserve data Marketmen will also be eyeing foreign exchange reserve data to be announced on March 20. Forex reserve in India increased to $481 billion in February 29 from $476 billion in the previous week.

Rupee hovers at record low The rupee hit its lowest ever of 74.50 on Friday before rebounding as RBI assured to maintain sufficient liquidity in the currency market. The USD/INR pair trades at 73.91.

Recently, RBI announced a $2-billion swap for six months to address the dollar shortage in the market due to massive selling by FIIs. It means the central bank decided to sell dollars in the market now and buy them back six months down the line (or decide to roll over).

Technical outlook Nifty on Friday formed a Long Bearish Candle on the daily chart. Analysts said the index could now head for levels up to 8,900, if the 9,550-9,500 range is broken next session.

“The index tested 100 month EMA on the monthly chart which was never seen after 2008 bottom. This was an extreme overreaction clouded by coronavirus and global equity sell off. Increase in volume confirms that panic selling is almost over,” said Jimeet Modi.

This forms a short-term bottom at least for some time and traders can exploit this opportunity for a sizable up-move by taking buying on dips, he added.

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