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<ul><li>The Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report.</li><li>On Sunday, the National Disaster Management Authority (NDMA), the nodal department, announced lockdown 4.0 till May 31 to check the spread of the novel coronavirus </li><li>In March, RBI had allowed a three-month moratorium on payment of all term loans due between March 1, 2020 and May 31, 2020. </li></ul>With the government extending the nationwide lockdown up to May 31, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report. On Sunday, the National Disaster Management Authority (NDMA), the nodal department, announced lockdown 4.0 till May 31 to check the spread of the novel coronavirus. The lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the COVID-19 pandemic. It was first extended till May 3 and again till May 17. In March, RBI had allowed a three-month moratorium on payment of all term loans due between March 1, 2020 and May 31, 2020. "With the lockdown now extended up to May 31, we expect RBI to extend the moratorium by three months more," SBI's research report- Ecowrap said. The report said the moratorium for three more months will imply that companies need not pay till August 31, 2020, and this means that there is almost minimal possibility of companies being able to service their interest liabilities then in September. Failing to repay the interest liabilities will mean the account might be classified as non-performing loans as per the RBI norms. "Thus, the RBI needs to give operational flexibility to banks for a comprehensive restructuring of the existing loans and also a reclassification of 90 day norm," the report said. The RBI's June 7 circular is stringent and gives little flexibility to banks. "The revised restructuring norms should give banks to restructure like say converting interest liabilities up to March 2021 into term loans, repayable in 3-5 years for working capital and at the end of the tenor in case of term loans," the report said. RBI also needs to also clarify whether working capital expansions classify as COVID-19 debt, it said.

RBI may extend moratorium on repayment of loans for three more months: Report

Mumbai, May 16 () Hotel and restaurant players on Saturday urged the government for giving relaxation for the sector during 'lockdown 4.0', at least in green and orange zones, that will help mitigate hardships faced by the industry.The apex hospitality association has proposed that hotels and restaurants in green zones be allowed to operate at 100 per cent and in orange zones at 50 per cent capacities, the Federation of Hotel and Restaurant Associations of India (FHRAI) said in a statement."Even today, containing the spread of the virus remains the country's priority. But we also have to take into account that the hospitality and tourism industry employs over 4.3 crore people. They are relying for their survival. Every lockdown extension is making it difficult for us to keep people employed and to sustain. "Since the government is relaxing operations for several industries to keep the wheels of economy moving, we are hoping that it allows our industry some relaxation too," FHRAI Vice-President Gurbaxish Singh Kohli said.Due to the lockdown to curb COVID-19 pandemic, the industry is staring at a potential job loss of around 3.8 crore, which is 70 per cent of the total workforce."According to the World Travel and Tourism Council (WTTC), as many as 7.5 crore travel and tourism jobs are at risk worldwide, one in eight of them are in India. We hope to resume operations and adhere to all the safety measures and follow the compliances strictly. We stand united with the government for eradicating the virus and together we will show the way to the world in achieving this," Kohli added. SM MR

Hotel, restaurant players seek relaxations in lockdown 4.0

New Delhi, May 17 () The Indian equity market's movement this week will hinge on coronavirus-related developments such as lockdown 4.0 specifics and new infections trend, besides quarterly earnings, analysts said. In addition, experts said, domestic bourses will take cues from global peers which have been reeling from fears of a second wave of COVID-19 in some countries. The market will also assess the effectiveness of the government's mega Rs 20-lakh crore stimulus package that, analysts believe, would be critical for the revival of the economy. The first of the five tranches of the mega stimulus, unveiled by Finance Minister Nirmala Sitharaman last Wednesday, had failed to enthuse the market on Thursday. "Government has made it clear that it will introduce the measures in tranches, but execution is key and that will be followed by the markets. Markets will also be driven by the rate of infections, lockdown 4.0 norms and any stock specific earnings commentary in the ongoing results season," said Vinod Nair, Head of Research at Geojit Financial Services. Ajit Mishra, VP - Research, Religare Broking Ltd, said, "It seems like markets are awaiting further details (of stimulus package) before making any reaction and we may see the possible response on Monday i.e. May 18." The government in its first four tranches of the stimulus package focussed on credit line to small businesses and new fund creations to be shouldered by banks and financial institutions with very little extra budget spending. In the last set of measures, the finance minister on Sunday announced plans to privatise PSUs in non-strategic sectors and suspend loan default-triggered bankruptcy filings for one year, and also gave a Rs 40,000 crore hike in allocation for the rural employment guarantee scheme to provide jobs to migrant workers. "Now the market would again focus on global cues and may continue to remain under pressure. There is also fear of a second wave of pandemic spread and extended period of economic slowdown. Further, the earnings season so far suggest more volatility and disruption," Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said. Markets would now await for the new norms of lockdown 4.0, he said. Last week, the Sensex fell 544.97 points or 1.72 per cent. On the earnings front, Bharti Airtel Limited, Apollo Tyres, Bajaj Finance, Tata Power Company, Bajaj Auto, Dr. Reddy's Laboratories and Hindustan Zinc are some of the major companies to announce their results this week. According to the Health Ministry, the death toll due to COVID-19 crossed 2,800 and the number of total positive cases surpassed 90,000 till Sunday morning. SUM MKJ

COVID trend, lockdown 4.0 details, Q4 earnings to decide maket course: Analysts

New Delhi, May 18 () Ride-hailing platforms Ola and Uber on Monday announced resuming operations in more cities, including Delhi and Bengaluru, following new guidelines for the fourth phase of the lockdown. Cab services were suspended for more than 50 days in Delhi and Bengaluru due to restrictions imposed by the government to contain the spread of coronavirus. "In compliance with Lockdown 4.0 guidelines by the Government, Uber is resuming services across more cities in India. Riders will constantly be notified with further information and the status of specific cities through our app," it said in a blogpost. With the 10 new cities, Uber will be available in total of 35 cities in the country. The company had earlier resumed operations in 25 cities. Ola said driver-partners operating three and four-wheelers on the platform will be available in the states of Karnataka, Telangana, Delhi, Haryana, Chandigarh, Punjab, Tamil Nadu (except Chennai), Andhra Pradesh, Kerala, and Assam. "This also brings relief to millions of drivers-partners whose livelihoods depend on serving citizens on a daily basis. In all of the over 160 cities where Ola is now operational, enhanced safety protocols are applicable across every single trip," Ola said in response to an emailed query. In Delhi, taxis and cabs will be allowed but only two passengers at a time will be allowed in the car. According to industry executives, services for travelling between locations in two states (for example, Delhi and Gurugram) will still not be available under the current rules. Ola and Uber outlined steps for ensuring the safety of riders and driver-partners. Ola said its safety protocol includes compulsory mask usage for driver-partners and passengers, complete sanitisation of cars post-trips, and adhering to social distancing norms by limiting to two passengers per ride. Earlier on Monday, Uber announced that both driver and rider will mandatorily have to use face masks during a ride. Also, drivers will have to upload a selfie wearing a face mask before going online on the platform. These companies will also allow drivers and riders to cancel trips if they do not feel safe, including if a user is not wearing a mask or face cover. Uber and Ola had suspended operations after the government announced a nationwide lockdown from March 25 to contain the spread of COVID-19 infection. They allowed only people in essential services like healthcare, banking and media to commute and the restricted mobility left driver-partners of cab services like Ola and Uber with no source of income. After 40 days of lockdown, some relaxations were provided in the third phase (May 4 onwards), including allowing cab services to operate in orange and green zones. Uber started operations in 25 cities, including Jamshedpur, Kochi, Cuttack and Guwahati (green zone) as well as locations like Amritsar, Rohtak, Gurugram and Visakhapatnam (orange zone). Ola had said its services were available in more than 100 cities. The demand and supply had been low in the first few days after these platforms had resumed services. According to industry executives, demand was low in various cities as people were stepping out only for essential travel, while the number of vehicles on the road was also limited as a fraction of drivers logged onto work. SR MRMR

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RBI may extend moratorium on repayment of loans for three more months: Report

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Hotel, restaurant players seek relaxations in lockdown 4.0

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COVID trend, lockdown 4.0 details, Q4 earnings to decide maket course: Analysts

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Lockdown 4.0: Uber, Ola resume services in more cities

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