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<ul><li>Telangana currently has 334 active cases (as of April 6) of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword>. </li><li>While the lockdown highlighted the harsh living conditions, there were also some heros who did their bit to help them. </li><li>The story of this Hyderabad couple, Subhadra Rani and Srinivas is one of them. </li></ul>A software engineer couple in Hyderabad could have used the lockdown time to spend time with themselves, in the otherwise bustling city. But, they saw that their city had a few unexpected visitors - migrant labourers who were left stranded. With no savings,no food, these wagers had no work to support themselves either as the lockdown had already come into place by then. Subhadra Rani and Srinivas are one of the few from the large-hearted city, to offer what they needed the most - hope. They started small. Rani started donating home-cokked food to a handful of people. Then she realised that there were many mouths to feed as a huge crowd of laborers gathered outside her house while she and her husband were distributing cooked food, reported Dainik Bhaskar. After failing to produce large quantities from their ‘home kitchen’, they insisted that their neighbourhood restaurant open its kitchen to them. As they started cooking on a regular basis, a few relatives and friends too joined in to help fight hunger. And today, all of them cook food for at least 2,000 people daily. They have been sourcing material for these meals from their savings, making them one of the few heroes of the lockdown. After lockdown, Hyderabad saw a stream of people walking towards it, from the 150 km of radius. As construction activity closed, many people have been left jobless with little to go on. Yesterday, the state government announced that the lockdown might be extended as there had been a spurt in the number of Covid-19 cases. Telangana currently has 334 active cases of Coronavirus. Of these, 172 people had participated in the Tablighi Jamaat event that was held in Delhi from March 13 to 15. See also:<a href="https://www.businessinsider.in/india/news/coronavirus-cases-in-hyderabad-telangana-news-and-updates/articleshow/74823424.cms"> Coronavirus cases in Telangana </a>

A Hyderabad couple takes over a closed restaurant to dish out meals to 2,000 migrants every day

By Aditi Khanna London, Apr 14 () Over a hundred Indian diaspora organisations here have united to issue an open letter of solidarity with India and urged their compatriots caught up in the current lockdown to show patience to curb the spread of coronavirus pandemic in the country.The 107 organisations, including charities, local temple associations and state-wise representative bodies, lauded the Indian government's efforts during the outbreak as well as worldwide efforts to save precious lives during the pandemic. The letter came as Prime Minister Narendra Modi addressed the nation on Tuesday to further extend the lockdown in India till May 3. "We would especially like to commend the mammoth efforts of the Indian government and states working under the able leadership of Prime Minister Shri Narendra Modi for the wide ranging and timely measures to address this issue and to alleviate the inevitable hardship that they will endure during this time of lockdown," the letter stated."We salute the citizens of India for their fortitude, patience, disciple, and social consciousness at this testing time. We appeal to you all, sisters and brothers to continue to keep trust, keep strong and follow the continued advice and guidance of Prime Minister Narendra Modi during these testing times," it added.The Indian High Commission in London, which has been fielding hundreds of queries on a daily basis from Indian nationals stranded in the UK, also reached out to them with a message of reassurance this week."Dear Indians in UK. We are an email or phone call away and committed to find ways to help you while you are in the UK. The Indian diaspora in UK is also making efforts to do so. Have faith, be positive and stay safe," it said.Its social media pages were instantly flooded with queries regarding international flights after the Indian government's lockdown extension announcement on Tuesday."There are many students stuck in the UK, including myself, who couldn't return to India before March 18 and are stuck here. In these trying times, we really want to go home. Please help," read one plea."Can we get a clarity on when the flight operations will resume?" asked another.There are thousands of Indians stranded in different parts of the UK, with hundreds of students among the worst-hit due to financial and accommodation constraints.The UK Home Office has confirmed that any foreign students or professionals on visas that had expired or expiring would be given an extension at least until May 31. Many of the stranded students from different parts of India -- including Kerala, Tamil Nadu, Telangana, Maharashtra and Uttarakhand -- expressed their relief at the visa extension, but they remain concerned about the limited resources at their disposal in the face of mounting accommodation and essentials costs.Besides, many are exposed to greater risk of contracting COVID-19 due to being crammed into packed hostels with shared kitchen and bathroom facilities during the current lockdown imposed in the UK.The High Commission urged these Indian nationals to remain calm and follow travel advisories and updates as the lockdown and travel restrictions in India now go into place until May 3. AK SCYSCY

Indian diaspora groups in UK urge patience amid COVID-19 lockdown

New Delhi, Aug 17 (IANS) India's FY21 GDP contraction has already crossed the (-) 6.8 per cent mark for 2020-21, SBI Ecowrap report said on Monday. An earlier Ecowrap report had estimated GDP for FY21 was 2.6 per cent when India had first imposed lockdown. Since then, the GDP forecast has been progressively reduced to a negative 6. 8 per cent in FY21. "Now the situation has changed drastically and India has climbed to 3rd position in overall Covid-19 cases in the world with more than 26 lakh total cases (12 per cent of global tally)," the report said. "During Unlock-1 since June 1 the spread of pandemic has increased significantly and almost 93 per cent of total cases have come post June 1. Owing to this, various states have again imposed partial lockdown (like West Bengal, Bihar, Maharashtra, Rajasthan, etc.) in staggered manner." Accordingly, using the bottom-up approach the report estimated total GSDP loss due to Covid-19 is at 16.8 per cent of GSDP. "State-wise analysis indicates that top 10 states accounted for 73.8 per cent of total GDP loss with Maharashtra contributing 14.2 per cent of total loss followed by Tamil Nadu (9.2 per cent) and Uttar Pradesh (8.2 per cent)," the report said. "Subsequently, the per capita loss for all India is around Rs 27,000 with states like Tamil Nadu, Gujarat, Telangana, Delhi, Haryana, Goa, etc. exhibiting loss of more than Rs 40,000 per person in FY21." --IANS rv/sn/rs/

FY21 GDP contraction already crosses 6.8%: SBI Ecowrap

Mumbai, May 26 () The country's GDP is estimated to have grown at 1.2 per cent in the last quarter of the previous fiscal as economic activity came to a standstill in the last week of March due to the nationwide lockdown to contain spread of COVID-19, a report said. According to the SBI's research report – Ecowrap - the gross domestic product (GDP) growth is likely to be 4.2 per cent for FY20 and (-) 6.8 per cent for FY21. The fourth quarter GDP growth number for FY20 will be announced by the National Statistical Office (NSO) on May 29. In the third quarter of FY20, GDP growth slipped to a nearly seven-year low of 4.7 per cent. In Q1 and Q2 of FY20, GDP growth was 5.1 per cent and 5.6 per cent, respectively. "We believe that Q4 (FY20) GDP growth would be around 1.2 per cent as the economic activity in the last seven days of March month was completely suspended due to the nationwide lockdown," the research report said. The report sees a loss of at least Rs 1.4 lakh crore during those seven days of lockdown. "Subsequently, the annual FY20 GDP growth would be around 4.2 per cent as compared to 5 per cent as it was projected earlier," the report said. It estimates FY21 GDP growth to be around (-) 6.8 per cent and gross value added (GVA) growth would be nearly (-) 3.1 per cent. The loss is maximum (around 50 per cent) in red zones and where almost all the big districts of the country are located. The combined loss of orange and red zones is around 90 per cent of total loss. State-wise analysis indicates that top 10 states accounted for 75 per cent of total GDP loss with Maharashtra contributing 15.6 per cent of total loss followed by Tamil Nadu (9.4 per cent) and Gujarat (8.6 per cent). These three states also have the largest number of confirmed COVID-19 cases in the country. The report further said COVID-19 cases in the country could peak anytime in the last week of June. "Based on the current 7-day moving average of new cases witnessed in the country, we believe that new cases are likely to peak somewhere in the last week of June, beginning June 20," the report said. Following that, the new cases are expected to witness steep fall till the beginning of August after which it is expected to gradually reduce to flatten by mid-September. The report, however, said the estimates are purely based on an assessment of current trends that can quickly change given the cyclonic disaster in West Bengal and the continued return of migrant labourers. The number of COVID-19 cases in the country stood at 1,45,380, as per health ministry data. HV ANS ANS

India's GDP growth seen at 1.2 pc for Q4 FY20: SBI report

<ul><li>With the changing outdoor scenario, Madison has decided to launch an extension to its Traffic Count Tool.</li><li>As per the tool, Mumbai has seen an average recovery of 57% of traffic across key junctions while cities like Bengaluru and Delhi have recovery in the range of 65%-70%.</li></ul>The COVID-19 lockdown has significantly changed the user mobility (<keyword id="609600" type="PERSON" weightage="20" keywordseo="traffic-flow">traffic flow</keyword> patterns). The current traffic movements are very different when compared to the Pre-COVID Lockdown movements, and are quite unpredictable. Realizing this unpredictable outdoor scenario, Madison decided to launch an extension to its Traffic Count Tool. This tool will provide clients with legitimate data to help them note the actual changes in OOH mobility in the Post COVID lockdown era. Madison’s technology partner for this is <keyword id="9568356" type="UNKNOWN" weightage="20" keywordseo="admavin">AdMAVIN</keyword> – a Geo-spatial marketing solutions company, founded by alumni from IIT Madras. The extension of Traffic Count Tool utilizes the Google mobility reports. These reports are available for various countries and contain state-wise summaries for each touchpoint. The algorithm of Traffic Count Tool is updated to provide OTS based on the current OOH Mobility with a location level detailing. Mobility of a particular location is estimated based on the latitude and longitude of 25,000+ sites which have been tagged in the Madison OOH system across all major markets. A 1km vicinity to a particular location is mapped and the dispersion of touchpoints studied. A change % is determined and applied on the base line OTS to provide present day OTS numbers. The dataset provides the change compared to a baseline value for any given day of the week. The baseline defined by the Google Mobility report, is the median value corresponding to the respective day of the week, during the 5-week period Jan 3 – Feb 6 To further advance and enhance the Madison Traffic count tool, further granularity will be provided based on the market Population and Live Traffic flow data. The OTS COVID-19 update will help in providing current and realistic OOH estimations to clients and will be updated on a weekly basis. This will help in providing clients with real time OTS which are the best possible impression numbers that can be shared for OOH roadside media. The Traffic Count Tool can help provide OOH mobility data at key touchpoints and key markets. From the consumer in their work, live &amp; play arenas like retail and recreation, groceries, and pharmacies, parks, transit stations, workplaces, and residential points of interest respectively. Considering the dispersion of traffic, we see a difference in recovery basis the touchpoint spread and market. For e.g. Mumbai has seen an average recovery of 57% of traffic across key junctions while cities like Bengaluru and Delhi have recovery of movement to the range of 65%-70%. Although few locations have shown encouraging signs of traffic movement compared to Pre-COVID conditions, the majority of the locations range in the 57%-60% recovery. Smaller cities like Lucknow, Patna and Vijayawada have seen a 10%-15% point better recovery of traffic movement than the larger cities. <keyword id="89313" type="PERSON" weightage="20" keywordseo="Vikram-Sakhuja">Vikram Sakhuja</keyword>, Partner &amp; Group CEO, <keyword id="9568355" type="COMPANY" weightage="20" keywordseo="madison-media-ooh">Madison Media &amp; OOH</keyword>, said, “Thanks to traffic count data that we have built data tech partnerships in, it is now possible to track the post lockdown recovery of traffic on our metro roads. This should help build confidence amongst OOH advertisers.” Traffic at some key Junctions in Metro: <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Monthly Impressions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Pre covid </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Post covid 07/07 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 1.5pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">%Recovery </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">MumbaiWEH Bandra </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3040650 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1524278 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50.1 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Dadar TT </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2638170 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1746865 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">66.2 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Mumbai Worli Naka </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2700630 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1071070 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">39.7 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Delhi Connaught Place </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2953350 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1769943 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">59.9 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Gurgaon Cyber City </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">4344000 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2054713 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">47.3 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Bangalore Mg road </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2832840 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1781290 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">62.9 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Chennai- Mount road </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3271140 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1640639 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">50.2 </td></tr><tr><td style="border-left:solid #000000 1.5pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Calcutta Park street </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">3710430 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1892319 </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 1.5pt;border-bottom:solid #000000 1.5pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">51.0 </td></tr></tbody></table>

Madison OOH extends its OTS Measurement Updates for COVID-19 Unlock times

New Delhi, Jun 30 () The finance ministry on Tuesday said banks have sanctioned over Rs 1 lakh crore loans under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under coronavirus-induced economic slowdown. While, Rs 45,860 crore is disbursed under the 100 per cent ECLGS for the micro, small and medium enterprises (MSMEs) till June 26, it said. The scheme is the biggest fiscal component of the Rs 20-lakh crore 'Aatmanirbhar Bharat Abhiyan' package announced by Finance Minister Nirmala Sitharaman last month. The latest number on ECLGS, as released by the Finance Ministry, comprises all 12 public sector banks (PSBs), 20 private sector banks and 8 NBFCs. "Under the 100 per cent ECLGS backed by a government guarantee, banks from public and private sectors have sanctioned loans worth over Rs 1 lakh crore as of June 26, 2020, of which more than Rs 45,000 crore has already been disbursed," the finance ministry said in a statement. This would help more than 30 lakh units of MSMEs and other businesses restart their businesses post the lockdown, it said. PSBs have sanctioned loans of Rs 57,525.47 crore, whereas private sector lenders have sanctioned Rs 44,335.52 crore under ECLGS, which started on June 1, it said. As on June 26, public sector banks have disbursed Rs 29,232 crore and private sector peers Rs 16,628 crore. The top lenders under the scheme are State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank and HDFC Bank, it added. Market leader SBI has sanctioned Rs 19,593 crore and disbursed Rs 12,026 crore as on June 26. It is followed by Bank of Baroda with a sanction of Rs 7,273 crore and disbursement at Rs 2,695 crore. The second largest lender Punjab National Bank was at the third spot, as per the data, with the cumulative sanction of Rs 7,188 crore. Its disbursement was nearly one-third at Rs 2,125 crore. State-wise, business units of Maharashtra have got the highest cumulative sanction of Rs 6,179 crore from banks, while disbursement was to the tune of Rs 2,774 crore at the end of June 26. It is followed by Uttar Pradesh with a sanction of Rs 5,646 crore, with disbursement of Rs 2,861 crore. On May 21, the Cabinet had approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through ECLGS for the MSME sector. Under the scheme, 100 per cent guarantee coverage will be provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and interested Micro Units Development and Refinance Agency (MUDRA) borrowers, in the form of a guaranteed emergency credit line (GECL) facility. For this purpose, a corpus of Rs 41,600 crore was provided by the government, spread over the current and next three financial years. The scheme will be applicable to all loans sanctioned under GECL facility during the period from the date of announcement of the scheme to October 31 or till an amount of Rs 3 lakh crore is sanctioned under GECL, whichever is earlier. The main objective of the scheme is to provide an incentive to member lending institutions to increase access and enable availability of additional funding facility to MSME borrowers, in view of the economic distress caused by the COVID-19 crisis, by giving them 100 per cent guarantee for any losses suffered by them due to non-repayment of the GECL funding by borrowers. All MSME borrower accounts with an outstanding credit of up to Rs 25 crore as on February 29, which were less than or equal to 60 days past due as on that date, i.e., regular, SMA-0 and SMA-1 accounts, and with an annual turnover of up to Rs 100 crore, would be eligible for GECL funding under the scheme. DP MKJ MKJ

You Searched For "statewise lockdown" and got 6 results

A Hyderabad couple takes over a closed restaurant to dish out meals to 2,000 migrants every day

Preeti Soni

Indian diaspora groups in UK urge patience amid COVID-19 lockdown

PTI

FY21 GDP contraction already crosses 6.8%: SBI Ecowrap

IANS

India's GDP growth seen at 1.2 pc for Q4 FY20: SBI report

PTI

Madison OOH extends its OTS Measurement Updates for COVID-19 Unlock times

BI India Partner

Banks sanction over Rs 1 lakh cr loans to 30 lakh MSMEs under credit guarantee scheme

PTI

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