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No more barbecue beef steak for Manchester City footballer Sergio Aguero

Manchester City's Argentine footballer Sergio Aguero has revealed that the secret to his goal-scoring prowess is a switch in diet from barbecued beef to chicken.

Sergio, who joined City from Atletico Madrid for £38million (R357 crore) in 2011, is their all-time high scorer with 254 goals from 368 games.

However, he struggled with weight issues until a few years back as his love for barbecued beef steaks lowered his blood pressure, leaving him feeling dizzy on the pitch.

"From 2013 to 2016, I could not adapt to food well. Then, I met an Italian doctor online and told him what I usually ate, which was a lot of meat. He said I should try chicken at least once a week. Initially, I was like 'uhhh' but then I adapted. He told me that if I'm very hungry, I should put rice and chicken together. Today, I'm a big fan of rice. Earlier, my weight was 81 or 81.3 kg. Now I am 79.5. In football, even if it's only half a kilo, you feel the difference. It's incredible," Sergio, 31, told Argentine TV channel, TyC Sports.

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Cristiano Ronaldo donating money to help Portugal's lower league players

Football superstar Cristiano Ronaldo flew back to Italy on Monday after almost two months in Coronavirus lockdown in his native Madeira, Portugal, but he is continues to help with donations during this COVID-19 pandemic.

Lokomotiv Moscow's Portuguese player Joao Mario has told British tabloid, The Sun that Cristiano is donating money to lower league players in Portugal, who are financially hit due to the pandemic.

"It's a bad situation for everyone but in these kinds of situations, it's worse. They [Portugal's lower league players] really need our help. Cristiano presented us an initiative for us all to help especially those players that are struggling, that do not have professional contracts," said Joao.

Meanwhile, Manchester City star Bernardo Silva said, "Ronaldo suggested that Portugal players should donate 50 per cent of their Euro 2020 qualification bonus towards a players's fund in the Portugal Football Federation."

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Cristiano Ronaldo's girlfriend Georgina's latest photo sparks pregnancy rumours

Portuguese football superstar Cristiano Ronaldo, 35, could be expecting his fifth child going by an indication from his girlfriend Georgina Rodriguez, 26, via social media.

On Monday, just before leaving for Turin, Italy from Madeira in Portugal where they spent nearly two months, Georgina hinted in a social media post that she was pregnant.

She Instagrammed this blurred picture (above) of herself chewing gum with the words 'baby girl' accompanied by a heart wrapped in a bow emoji.



Cristiano has four children, Cristiano Jr, nine, twins Eva and Mateo, two, born via a surrogate mother and Alana Martina, two, from Georgina. Cristiano and his family arrived in Italy, where he will now self-isolate for two weeks before resuming training with his club, Juventus.

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Five things you might not know about Sergio Ramos

From a childhood nickname to his world champion horse, these are some of the lesser-known facts about the Real Madrid captain and legend

1. His nickname as a child was Schuster
As a child, Sergio played up front and was nicknamed ‘Bernd Schuster’ after the great German goalscorer by the friends he played with on the grass outside his apartment block. He’d go on to play in defence throughout his career, at right-back and centre-back, but has maintained his brilliant goalscoring ability. Coincidentally, he was even coached by Schuster at Real Madrid between 2007 and 2008.

2. He’s only ever worn the number 4 shirt at Real Madrid, but never for Spain…
When Ramos arrived at Real Madrid, he was touted to fill the void left by the departing legend Fernando Hierro. Ramos wasn’t shy about taking on the challenge and adopted Hierro’s famous No.4 jersey from day one. That has been the number on his back during his entire decade-and-a-half career at the Santiago Bernabéu. Funnily enough though, Ramos picked a different number for when he plays with the Spanish national team: 15.

3. He has never scored for Spain at a major tournament
Sergio is Spain’s all-time record appearance holder (170) and has scored 21 goals for his country, a mightily impressive tally for a defender. Bizarrely enough, though, he’s never scored for Spain at a major tournament. Each of his 21 strikes has come in qualification rounds, in friendlies, or in the UEFA Nations League. Beyond penalty shootouts, he’s never scored at a World Cup, European Championship or even the Confederations Cup.

4. He didn’t win a Champions League knockout tie until the age of 25
Ramos has four Champions League titles to his name, winning the tournament in 2014, 2016, 2017 and 2018. He may undoubtedly be one of the all-time greats of the competition, but it’s easy to forget that he didn’t reach the competition’s quarter-final until the age of 25. He never played in the Champions League with Sevilla, then his first few years at Real Madrid coincided with a barren spell for the capital city club in which they were consistently knocked out in the first knock-out phase. Finally, in 2010/11 after the arrival of Jose Mourinho, Ramos made it to his first quarter-final, against Tottenham Hotspur. He’s certainly overcome that initial disappointment as the years have gone on.

5. His horse Yucatán de Ramos is a world champion
Like any true Andalusian, Sergio loves horses and has done since childhood. He owns stables near his hometown of Seville, and Yucatan de Ramos, his star horse, won a world championship at the 2018 Interntional PRE Horse Fair recognising it as the finest pure-bred Spanish horse in the world.

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Will Change in Valuation Norms Make Investing in Debt Mutual Funds Safe?

Posted by Equitymaster
      

Last month, SEBI had asked credit rating agencies not to consider any delay in payment of interest or principal loan amount arisen solely due to the nationwide lockdown conditions as a default.

The stress in the Indian mutual fund industry due to the pandemic impact deepened after Franklin Templeton MF decided to wind down six of its debt schemes. The lack of liquidity and redemption pressure compelled FTMF to take the extreme step.

In this economic environment, Mutual Fund houses are concerned about companies that are likely to delay and default in payments. Many companies have sought deferment/rescheduling of payment due to COVID-19 related disruptions. In order to minimize the resultant damage, market regulator SEBI recently provided temporary relaxation in valuation norms for instruments mutual funds hold.

SEBI has asked valuation agencies to avoid treating delays in payment of interest/principal or extension of maturity of a security as default for the purpose of valuation of money market or debt securities held by Mutual Funds, if it has been caused solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by RBI.

[Read: Will Mutual Fund Houses Act Against Companies Approaching Courts To Prevent Rating Downgrade Amidst COVID-19?]

"In view of the nationwide lockdown and the three-month moratorium/ deferment on payment permitted by RBI, a differentiation in treatment of default, on a case to case basis, needs to be made as to whether such default occurred solely due to the lockdown or loan moratorium", SEBI circular said.

SEBI has stated that in the above mentioned scenario, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted. This revised norm will be in effect until the RBI's period of moratorium.

However, AMCs shall continue to be responsible for true and fairness of valuation of securities.

Mutual fund houses have to mark the value of their assets based on valuations provided by valuation agencies appointed by AMFI.

At present, a debt or money market security is classified as 'Default' if the interest and/or principal amount has not been received on the day such amount was due; or when such security has been downgraded to 'Default' grade by a credit rating agency. Default denoted that the security is below investment grade.

This leads to mark down of the respective security and thereby impacts NAV of the scheme.

SEBI's move provides some relief in this regard. It will ensure that all fund houses follow a uniform approach while dealing with defaults/delay due to COVID-19.

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Will it make investment in debt fund safe?

SEBI has not yet provided any moratorium on commercial paper and corporate bond repayment. According to a report published in Livemint, Rs 1.5 trillion worth of commercial paper and corporate bonds will be maturing in the first quarter.

As mentioned earlier, AMCs shall continue to be responsible for true and fairness of valuation of securities. But in the absence of rating downgrade from valuation agencies, fund houses cannot side-pocket their exposure to a defaulting company. Therefore, we may still see some write-offs if the AMC finds recovery to be difficult even after the relaxation period.

COVID-19 has impacted businesses across sectors. Some sectors such as NBFCs were under stress even before the pandemic. The default risk has thus amplified.

The relaxation of valuation would delay the issue, but downgrades would arise subsequently. Spike in number of side pockets (by fund houses) may thus become imminent.

My colleague, Rounaq, rightly mentioned yesterday, losses the investors suffer will be directly proportionate to the stress, pressure mutual fund houses and their investors will face. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

What should investors do?

In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio and avoid funds that take higher credit risk. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

Choose a fund house that follows prudent investment process and stringent risk-management system.

Our friends at Quantum Mutual Fund have highlighted the secret behind their debt management strategy, which has helped them provide safety and liquidity to investors when it comes to investing in quantum funds. Don't Worry, Quantum Liquid Fund always aims for Safety and Liquidity.

SEBI has time and again taken steps to tighten norms for debt funds. As an investor, if you take portfolio risks, align it with your own risk appetite and financial objective.

PS: If you wish to select worthy mutual fund schemes, I recommend you to subscribe to PersonalFN's unbiased premium research service, FundSelect.

Additionally, as a bonus, you get access to PersonalFN's popular debt mutual fund service, DebtSelect.

If you are serious about investing in a rewarding mutual fund scheme, Subscribe now!

Author: Divya Grover

This article first appeared on PersonalFN here.

Join Now: PersonalFN is now on Telegram. Join FREE Today to get 'Daily Wealth Letter' and Exclusive Updates on Mutual Funds



PersonalFN is a Mumbai based personal finance firm offering Financial Planning and Mutual Fund Research services.

Disclaimer:
The views mentioned above are of the author only. Data and charts, if used, in the article have been sourced from available information and have not been authenticated by any statutory authority. The author and Equitymaster do not claim it to be accurate nor accept any responsibility for the same. The views constitute only the opinions and do not constitute any guidelines or recommendation on any course of action to be followed by the reader. Please read the detailed Terms of Use of the web site.




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COVID-19: Play not possible, feel Rafael Nadal, Novak Djokovic

Rafael Nadal thinks the global nature of tennis means there is little chance tournaments will go ahead any time soon as sport continues to be paralysed by the coronavirus pandemic. Novak Djokovic also anticipates a lengthy delay before tennis can be played even behind closed doors, with the world number one expecting players to have to wait a "few months". The French Open, which Nadal has won a record 12 times, has been postponed until September, shortly after the US Open, while Wimbledon was cancelled earlier this month for the first time since World War II.

But the prospect of either grand slams at Roland Garros or Flushing Meadows being played with fans appears increasingly remote. "Tennis is a global sport," Nadal told Spanish radio station Onda Cero on Wednesday night. "We go from country to country and a lot of people have to move around.
"It seems difficult to me for any big tournament to be played in the short or medium term."

Football's major leagues are preparing to play behind closed doors for several weeks to complete their seasons and avoid losing considerable sums of money from broadcasting contracts. But tennis tournaments are more reliant on fans for their income, making it more complicated to stage competitions in empty stadiums. "It is not an easy decision," Djokovic told the same programme.

"I am ready but I think we have to wait a few months." "If you could play behind closed doors, I would be delighted but I think it's very difficult," added Nadal.

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Novak Djokovic, Roger Federer, Rafael Nadal have a relief fund plan during COVID-19

Novak Djokovic said that he, Roger Federer and Rafael Nadal are organising aid for players struggling with the paralysis of the game due to the Coronavirus pandemic. "I spoke to Roger and Rafa a few days ago," Djokovic, the World No. 1, said in an Instagram chat with friend and rival Stan Wawrinka on Saturday.

No support from federation
"We had a long conversation about the near future of tennis, what is going to happen, how we can contribute and how we can help especially lower-ranked players, who are obviously struggling the most. The majority of the players who are ranked between 200, 250 in the world, and the 700th or 1,000th do not have federation support, do not have sponsors. They are completely independent and left alone," he said. "Guys who are ranked between 200-250, especially to 700...are thinking of leaving tennis right now."

He said players, the ATP and the four Grand Slams "would all get together and will contribute to a player relief fund that ATP will distribute." "It looks, hopefully, that there will something between $3 million (2.75 million euros) and $4.5 million that is going to be distributed," he estimated. Djokovic said the cash could come from the prize money for the season-ending World Tour Finals or the final bonus pools for top players.

Lack of tournaments
"Maybe if we don't have any tournaments this season, we can take a certain percentage from our prize money from Australian Open in January," he said. "These guys are the grass roots of tennis. The future of tennis. We need to show them they still can rely on support of the top guys." According to reports in tennis media, Djokovic, as president of the ATP Players' Council, which also includes Federer and Nadal, proposed to members that players in the Top 100 for singles and the Top 20 in doubles contribute according to their rankings.

The proposed scale runs from $30,000 for a Top-5 player to $5,000 for those between 51 and 100. That would raise approximately $1 million and the ATP would make a similar contribution. On Friday, ATP chief Andrea Gaudenzi echoed the call for unity on the tour website. "Our guys are at home, obviously unable to play, unable to earn money and financially struggling, so we will try to help," he said.

"I've been quite touched by the top players who reached out, the big names expressing their desire of helping the lower-ranked players and putting those players first. We are also talking with the Grand Slams about it. They may want to join in the effort. I think it would be a great message for the sport." World tennis has been at a standstill since the beginning of March and will not resume until mid-July at the earliest following the postponement of Roland Garros and the cancellation of Wimbledon.

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Novak Djokovic: I am against vaccination

Novak Djokovic has said he would be against a compulsory Coronavirus vaccination if it became a requirement for tennis players to travel to tournaments. "Personally, I'm against vaccination. I wouldn't like that someone forces me to get a vaccine in order to be able to travel," the World No. 1 said late on Sunday.

The Serbian star was speaking from Spain, where he is in lockdown with his family, in a video conference held on his Facebook for Orthodox Easter. "We [players] will have to travel. I think it will be the number one challenge," he said.

"If it [vaccination] will become compulsory what will happen? I will have to take a decision," on whether to get a vaccine or not, he said. "This is my opinion at the moment. Whether it will change I don't know."

No vaccine currently
There is currently no vaccine for the virus that has claimed some 1,65,000 lives around the globe, though labs around the world are racing to develop a treatment. Like the rest of the sporting world, tennis has been on pause since early March, with the ATP and WTA Tours suspended until mid-July at the earliest and Wimbledon cancelled for the first time since World War II.

'No play before Sept, Oct'
Djokovic estimated tournaments would not restart "before September or October". "The season will officially restart when everyone will be 100 per cent certain that people can return, that there is no risk, that people are resistant to the virus and this takes time." Tournaments with travel limited to one country or a region could be possible, he said.

17
No. of Grand Slam singles titles won by Novak Djokovic

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USTA tells players: No chest bumps like Bryan brothers

The U.S. Tennis Association is warning folks: "No Bryan Brothers chest bumps." That was among the suggestions from the USTA on Wednesday, when it offered return-to-play guidelines to help players and people running tennis facilities know when " and how " the sport should resume at the amateur level as coronavirus lockdown restrictions ease.

The USTA thinks it will be safe to again play tennis "in some cities and states sooner than in others." One of the recommendations is to maintain social distancing by staying 6 feet apart from other people " and, therefore, to avoiding playing doubles, because it "could lead to incidental contact and unwanted proximity." The group that runs the U.S. Open went on to add: "If you do play doubles, avoid all incidental contact, no Bryan Brothers chest bumps and no whispering to each other from a close distance to strategize."

American twins Bob and Mike Bryan have won 16 Grand Slam titles in men's doubles together and celebrate wins by jumping simultaneously and bumping chests. All professional tennis has been suspended at least until mid-July. The U.S. Open is still scheduled to begin main-draw play in New York on Aug. 31.

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Sania Mirza becomes first Indian to be nominated for Fed Cup Heart Award

Tennis star Sania Mirza on Thursday became the first Indian player to be nominated for the Fed Cup Asia/Oceania Group I Heart Award. Former world number one and multiple Grand Slam winner, Sania, returned to Fed Cup competition for the first time since 2016 and guided Team India with her stunning performance, recording three doubles wins in the Asia/Oceania Group I tournament earlier this year in March. Her performance, along with another senior compatriot Ankita Raina, proved decisive in India's historic qualification to the Fed Cup Play-offs.

Reflecting on her nomination, Sania said the Fed Cup result at the Asia/Oceania tournament is one of the greatest achievements of her playing career. "Stepping on to the court for the first time in India colours was a moment of pride for me, back in 2003. It has been an eighteen-year long journey since then and I feel extremely proud and privileged to have contributed to the success of Indian tennis. The Fed Cup result at the Asia/Oceania tournament last month is one of the greatest achievements of my playing career. These are the moments an athlete plays for and I am grateful to the Fed Cup Heart Awards selection panel for this recognition" Sania said in a statement.

The Fed Cup Heart Award is an International Tennis Federation (ITF) initiative that was established in 2009 to recognize Fed Cup players. This year, six players have been nominated for the three regional Group I Fed Cup Heart Awards. In Fed Cup Heart Award's 11th edition this year, Priska Madelyn Nugroho of Indonesia is the second player nominated from the Asia/Oceania region. They are joined by Anett Kontaveit (Estonia) and Eleonora Molinaro (Luxembourg) from Europe/Africa; Fernanda Contreras Gomez of Mexico and Paraguay's Veronica Cepede Royg from the Americas, as the remaining four regional Group I nominations.

The winners of the Heart Awards will be determined by online voting by fans which will go live on 1st May and will go on until 8th May.

In 2019, Zarina Diyas from Kazakhstan emerged victorious from Asia/Oceania Group I.

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Did Novak Djokovic break lockdown rules after playing at a club?

Novak Djokovic has apparently broke confinement rules in Spain by going back to a tennis court. Djokovic posted a video on Instagram showing him exchanging shots with another man at a tennis club in the coastal city of Marbella, where the Serb has reportedly stayed. Djokovic filmed the video while hitting shots and wrote he was "so happy to play on clay...well, just for a bit with my phone in the hands."

Spain on Monday loosened some of the lockdown measures that had been in place since mid-March because of the COVID-19 pandemic, allowing professional athletes to return to practice. But sports facilities are supposed to remain closed at least until next week in most parts of the country, with the exception of training centres for teams in professional leagues in sports such as soccer.

The Spanish tennis federation said in a statement on Monday that professional players in Spain were allowed to exercise by themselves or with a coach, but not yet on a tennis court. It said it would work on a set of guidelines to inform players and clubs about what they would be permitted to do beginning next week.
The federation's statement did not appear to be related to Djokovic's appearance on the court in Marbella.

Requests for comment made to the federation and to Djokovic's staff late on Monday were not immediately answered. It was not clear if Djokovic, the reigning Australian Open would be subjected to fines or sanctions if it was confirmed he broke the lockdown rules.

The No. 1-ranked Djokovic recently said he was against taking an anti-Coronavirus vaccination if it became mandatory to travel once the pandemic subsides, though he later said he was open to changing his mind.

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Spanish club sorry for letting Novak Djokovic train amid lockdown

The tennis club where Novak Djokovic broke confinement rules in Spain has said it mistakenly allowed the top-ranked Serb to practice and apologized for the error. Djokovic published a video of him training on Monday in apparent violation of Spain's current rules amid the coronavirus pandemic. The video posted on Instagram showed Djokovic exchanging shots with another man at the club in the coastal city of Marbella, where the Serb has been staying for the past several weeks.

Djokovic filmed the video while hitting shots and wrote he was "so happy to play on clay .. well, just for a bit with my phone in the hands. Spain has eased some of the lockdown measures that had been in place since mid-March, allowing professional athletes to return to practice, but most training centers and sports facilities must remain closed until next week. We are sorry that our interpretation of the regulation could have been erroneous, and this could have inconvenienced Mr. Djokovic or any other citizen acting in good faith," the Puente Romano Marbella Tennis Club said in a statement.

The statement, which was relayed by Djokovic's management team, said the club received a request from the player to practice and gave him the go-ahead with the "understanding that from May 4 all professional sports players were authorized to train." The club said it therefore believed he was "permitted to train in our facilities." It said it later received a "clarification" from the Spanish tennis federation and "both parties have agreed that training should resume" only next week.

Rafael Nadal said he also went to train on a court this week, but he did it on private property because the rules weren't fully clear to him. Soccer players were among the exceptions who could start training inside sports facilities beginning this week.

Spain has been one of the countries most affected by the pandemic but it started loosening some of its restrictions on movement as the number of confirmed cases of COVID-19 started to go down recently. The nation went into a lockdown on March 14.

Djokovic recently said he was against taking a vaccine for the coronavirus if it became mandatory to travel once the pandemic subsides, though he later said he was open to changing his mind.

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Watch video: Maria Sharapova recalls fun dinner outing with Novak Djokovic

Five-time Grand Slam champion Maria Sharapova has revealed that fellow tennis star and World No.1 Novak Djokovic was once fanboying on her over dinner. During an Instagram Live chat with the Serbian ace, Sharapova, who called time on her illustrious career in February, said: "I remember we played this little exhibition. I was young, you were young, way before you had any Grand Slam titles. I don't know if you'd even won a tournament at that point," said Sharapova. This part of the chat was shared by ATP Tour on their official Twitter handle.

"You said that if you'd win (in a mixed doubles match), I would have to pay dinner. I was like, ‘Okay, whatever, who is this kid?'" Sharapova recalled. "You won and you were like, ‘We have dinner tonight. We're going to the Japanese place!' I was like, ‘Are you serious? You and me, going to dinner, tonight?' So we did. We ended up going to dinner and it was so funny because you pulled out I think it was an old Kodak camera and you asked the waiter to take a photo of us… and here we are," she further said.

"It's actually what happened. Maria is saying the truth," Djokovic said, laughing. "I think you were fanboying," Sharapova replied. Djokovic recently said that he was "mentally empty" and "confused" at the beginning of the ongoing freeze of the tennis calendar due to the coronavirus pandemic.

The sport has been on a full stop for over a month due to the pandemic outbreak.


Novak Djokovic

Djkovic has enjoyed a revival in form after a slump in late 2017 and most of 2018. He was set to defend his Wimbledon title this year before the grass court Grand Slam was cancelled for the first time since the Second World War.

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Roger Federer was advised not to date wife Mirka

Former chief of the Swiss Tennis Federation, Sven Groeneveld has revealed that tennis champ Roger Federer was advised not to pursue his now wife, Mirka Vavrinec, when he first met her at the 2000 Olympic Games in Sydney.

Mirka, who was also a professional tennis player and part of the Switzerland squad in Sydney, went on to partner Roger at the 2002 Hopman Cup.

However, in 2000, Roger's friends were initially against him getting together with her. "Roger asked everyone if he should go out with her. Everyone advised him against it. But as Federer did it, now it shows that it was the best decision of his life," Sven said on former tennis player Christopher Kas's online show, Kasi Live.

Mirka eventually retired from tennis in 2002 due to a foot injury.

Roger and Mirka got married in 2009 and have two sets of twins, daughters Myla and Charlene, nine, and sons Lenny and Leo, five.

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Now you can book hotels with Google Flights



Google has introduced updates to its existing "Google Flights" service that will now let users book a hotel at their travel destination directly from Search. Earlier, the service helped users predict flight delays and find the cheapest fare by using machine learning capabilities.

According to Engadget, the company might introduce more integration to help users with the entire travel process.

According to Google, it also added improved price filtering, easier to find information on amenities, along with the new booking feature.

"There are some new interface features that help you check travel options on your mobile phone, too. Over the next few days, you'll see a 'Hotels' option to tap at the top of a 'Google Flight' search page," the report said.

If users want to search for hotels first, they could flip over to the 'Flights' tab as well to check prices and book air travel.

In addition, one could search by destination, then look up flights and hotels from there.

A simple tap on "More Destinations" at the top left of the search results and see more places to go.

"If you've booked travel via Google or have reservations in your Gmail, you'll be able to see it all in the new private 'Your Trips' section," the company said.

A user could also e-mail these details directly from "Your Trips". In case of offline access, the information would show up in the "Google Trips" app.





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Valentine's Day: Five not-so-predictable ideas to make the day special

For mid-air thrills
If you love the rush of adrenaline, sign up for Sky Waltz Balloon Safari near Pune (also available at Kamshet). Spend an hour in the air in a hot air balloon, where organisers can also make special arrangements for a planned marriage proposal or birthday celebration. It's run by licensed commercial hot air balloon operators authorised by the Directorate General of Civil Aviation.
On: date as per choice meet
At: Hotel Orritel, Talegaon.
Log on to: insider.in
Cost: Rs 6,800 onwards

For an aerial view
If your partner is bored of exploring the same old sights in the city, book a view from the top in a helicopter joyride. On offer are 10- to one-hour rides with routes that will cover the Bandra-Worli Sea Link, Dadar, Mahalaxmi, Haji Ali, Girgaum Chowpatty, airport, Filmcity, Pagoda, Marine Drive and other attractions.
On: date as per choice
Meet at: Juhu
Log on to: accretionaviation.com
Cost: Rs 8,250 onwards

For lilting tunes
If you are a music buff, take your beloved to scout for old records at The Revolver Club, which has a vast library of vinyls from various genres. You can also head to the chaotic Chor Bazaar to scour for rare music finds. With your musical gift sorted, head to the historic Royal Opera House and attend a jazz performance by Karim Ellaboudi on piano, Adrian D'Souza on drums, Dee Wood on bass, and Shreya Bhattacharya on vocals.
At: The Revolver Club, Mahim; Chor Bazar, near Bhendi Bazaar; Opera House, Girgaum.

For a brush with the sea
Pick a day to explore the harbour of the city in an open sail boat by Small Steps Adventures. The weather makes it the perfect time to set sail before the summer starts. Pack a picnic basket and make it the perfect date with goodies cooked by you for your other half.
On: date as per choice
Meet at: Jetty no 5, Colaba.
Log on to: eventshigh.com
Cost: Rs 4,500 onwards

For a heritage class
If you dig the past and want to learn more about the city's ancient history, hike to Kanheri Caves in the heart of Sanjay Gandhi National Park. These rock-cut Buddhist monuments date back to 1st century BCE - 10th century CE. Another option is a ferry ride to the Elephanta Caves, a UNESCO World Heritage Site off the harbour, that house Hindu and Buddhist relics, the Trimurti relief (in pic) being the most popular sight.
How to reach: Take a train to Borivali (East, for the National Park); hail a taxi to the Gateway of India from CSMT or Churchgate (for a ferry ride to Elephanta Island).

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Tourism among five sectors to exploit on mission mode in northeast

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Agartala: The first meeting of the 'Niti Forum for North-East' (NFNE) on Tuesday chosn five sectors including tourism and food processing to exploit them on mission mode basis to accelerate inclusive and sustainable economic growth of the region, said NITI Aayog Vice Chairman Rajiv Kumar.

Union Minister for Development of North Eastern Region (DoNER) Jitendra Singh, in a significant announcement, also said that henceforth 100 per cent funding would be made by the Central government for central sector projects in the eight northeastern states, which were earlier being undertaken on the basis of centre-state sharing in the ratio of 90 :10.

"In the first meeting, NFNE has identified five sectors to exploit them on mission mode basis to speed up inclusive and sustainable economic growth of the northeastern region," Rajiv Kumar told the media after the meeting.

The other sectors are bamboo, horticulture and 'Made in Northeast'.

Rajiv Kumar said that the focus of development and infrastructural projects in the northeastern region would be based on the concept of "HIRA" -- Highways, Inland Waterways, Railways and Airways as conceptualised by Prime Minister Narendra Modi.

The NITI Aayog Vice Chairman and DoNER Minister are Co-Chairmen of the NFNE constituted last month following Modi's direction to supplement the functioning of the DoNER ministry and North Eastern Council (NEC).

On the new funding pattern for central sector projects, Jitendra Singh said that this will only be applicable to the eight northeastern states, unlike the earlier 90:10 funding pattern which was in force for 11 special category states - which also included Himachal Pradesh, Jammu and Kashmir and Uttarakhand.

He said the infrastructure of the northeastern region, which had been neglected for 65 years, had got a boost under the NDA government, with utilisation of funds increasing to Rs 30,000 crore in the last financial year from Rs 24,000 crore in 2014-15 fiscal.

Singh said that for the development of highways and roadways and tourism sectors, two separate corporations were formed and to boost the industrialisation of the region, the "North East Industrial Development Scheme" was finalised last month by the union cabinet with the financial outlay of Rs 3000 crores up to March, 2020.

He said that under the UDAN phase two and phase three, all the northeastern states would be connected by airways and the region's connectivities with the neighbouring countries would be further developed.

Chief Ministers, Deputy Chief Ministers, Planning and Coordination, PWD Ministers of Tripura, Meghalaya, Nagaland, Mizoram, Arunachal Pradesh, Sikkim and Assam and top officials of all the eight northeastern states and various Central ministries attended the day-long NFNE meeting.

Rajiv Kumar said that 14 districts of eight northeastern states among the 115 most backward districts across the country and dubbed as "aspirational" districts, identified to accelerate the all-round development.

Of the 14 districts, seven are in Assam and one each in remaining seven states - Tripura, Meghalaya, Mizoram, Arunachal Pradesh, Nagaland, Manipur and Sikkim.

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10 multi-purporse travel essentials you cannot do without

Are you planning a long distance travel or a long vacation? Confused what to take and how to pack all your belongings? Worry not, as experts like Shikhee Agrawal, (Head - Training, The Body Shop India) and, Shubhika Jain (Founder of RAS Luxury Oils), have listed 10 must-haves for long distance travel. Also, while travelling long distances, it is best to choose products which are more multi-purpose and carry essentials in travel-size bottles. 

Here are 10 such travel essentials you just cannot do without:

1. Face mask: A face mask is one of those essential and handy things that will make you feel better instantly when you are travelling. If you don't have space in the bag to pack your sleeping creams, a mask will help you wake up with refreshed and moist skin.

2. Face elixir: A face elixir with a blend of beauty oils with rose, sandalwood, frankincense, patchouli, rosehip and vetiver nourishes your skin, ensuring your face always has a gorgeously glowing, satin complexion. After your morning/evening cleansing ritual, take 2-3 drops in the palm of your hand and rub them together to warm before pressing gently onto your face and neck to infuse into the skin. These elixirs can be used as a handy to-go multi-purpose moisturiser when in need of hydration.

3. Cleanser: Don't forget to carry your skincare routine with you especially when it comes to cleanser. They can prevent multiple problems like dust. It will even help you remove make-up and moisturise skin.

4. BB cream: This cream is not just subjected to ultra-fine glow of the face anymore but also contains optimal SPF factor and acts as the skin perfecto and primer. It's best and sensible to avoid multiple products but simply replace it with a good BB cream for the radiance with protection.

5. Eye concentrate or serum: Travelling can make your dark circles appear big due to the long journey and lack of sleep. So an eye concentrate or serum is a must to be included during your daily skincare regime. Eye creams are usually enriched with ingredients which detoxify and reduce puffiness around the tired eyes.

6. Lena perfume bottles: When you need to select a scent for your vanity, pick up one in a travel-sized package. The lean bottles easily slip into your bag and will never spill.

7. SPF enriched lip balm: Lip balm with minimum SPF 15, keeps your pout nourished and soft with moisture boosting lip balm that contains a minimum of SPF 15.

8. Hand and foot cream: A hand and foot cream is a must for keeping every part of your body moisturised, with no rough sides. Travelling while caring for your skin is a must.

9. Lavender and geranium salt polish: For exfoliation, a lavender and geranium salt polish is a good, safe and natural choice. It is a perfect way to get rid of dry, dead skin which may have resulted from a sunburn or just not enough hydration. The salt polish can also be used as bath salts.

10. Use distinct pouches: Keep similar items together and it's best to use distinct pouches for everything and pack them right in the middle of your luggage so as to form a gentle cushion over them and to make sure that they don't get squeezed accidentally.

(Edited by mid-day online desk, with inputs from PTI)

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Anoushka Shankar: Always wanted to score film track

Anoushka Shankar, who scored the recently restored silent film, Shiraz, recalls the challenge of the task, her upcoming India tour with the film and why Mumbai will always remain special

An emperor's love for his queen was immortalised in white marble in 1653. Three centuries later, when cinema was still at a nascent stage in India, the Taj Mahal and the love story of Shahjahan and Mumtaz Mahal became one of the earliest subjects to be celebrated on the big screen with Franz Osten's silent classic, Shiraz (1928). Almost 90 years on, the film starring Himanshu Rai, Charu Roy, Seeta Devi and Enakshi Rama Rau was restored to its former glory by the British Film Institute (BFI), in a manner most fitting.


The music for Shiraz is a blend of Indian and western instrumentation

While sitar player and composer Anoushka Shankar was invited to score the music of the film, she will also present a live performance, alongside a screening in four Indian cities, being brought here by the British Council and BFI.
We spoke to Shankar about what went into reliving an era musically. Edited excerpts from an interview:

How did a project of this nature come about?
The BFI undertakes frequent film restoration projects, and in 2017, as part of the UK-India Year of Culture, they decided to work on Shiraz. When they asked me to do the score, I was thrilled. I had been wanting to start scoring films for some time. And this seemed like a lovely fit with my musical background and skill set.


Stills from the restored film

How did you approach the music for a silent film?
It's much more challenging to score for a silent film because there's no conversation, and this means it needs constant music. The sheer volume of output required was huge. While we tried to give a feel of the time in which the film is set and the time in which it was made, we also wanted the audience to enjoy a cinematic effect in the music with a rich, modern sound. In some ways, it's been the most creative process that I have been a part of. I found it incredibly fulfilling.


Shiraz: A Romance of India. Pics/British Council and BFI

What does the music sound like?
We are an eight-member orchestra, and it's relatively evenly spaced out for the Indian and western instrumentation. We've used Indian percussion, the bansuri, sitar, cello, piano, violin, clarinet and some elements of live electronic music as well. It's a long film of an hour and 47 minutes, and throughout the duration, I have tried to create variety. For example, the opening piece is purely classical and then, within the course of the first half hour, we move to a different soundscape. When scoring the film, I knew it was going to be a live show as well and I was mindful of making music that people would want to sit and listen to and watch as a show.



How has composing music for Shiraz impacted you as a musician?
Whenever I take up any music project, it involves a mix of something that I have to offer, but also an opportunity where I can learn and grow. With Shiraz, I have grown a lot as a composer. I have learnt how to orchestrate my own music for an ensemble within a western harmony, in a way that allows Indian music to stay. I have also learnt a lot technically.

Around the time Shiraz premiered in London, the Taj was called a blot on Indian culture by an Indian politician...
If you take out the politics and think of it in terms of people, it's like one person putting another person down in order to make himself feel bigger. There is a lack of confidence in that. If someone is a fantastic human being in a way that's different from me, it doesn't make me a bad human being. We are different, but we can both be wonderful. As a culture, we have so much diversity in our history that there is room to celebrate everything.

How do you look at Mumbai as a performance venue?
Mumbai is a place that I have been coming to since I was a child. As a classical musician, it's such an important city. I have had years of memorable concert experiences here with my father initially, and with my own work in more recent years. I am always happy to play for Mumbai. It's a kind of place where you get a cosmopolitan audience that listens to diverse types of music.

On: November 5, 7.30 pm
At: Sri Shanmukhananda Auditorium, Sion East.
Log on to: bookmyshow.com
Entry: Rs 300 onwards





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Will Sanam maintain its numero uno position if it ditches the covers?

When we meet them on a windy November afternoon, the quartet that calls itself Sanam (named after lead singer/composer Sanam Puri) is comfortable taking questions on, and dealing with fame. They could be the biggest band in India, say insiders. Their YouTube channel has 208 million subscribers and enjoys 14 million views per month. And they have fans across South Africa, Trinidad, Netherlands, Bangladesh, England, Nigeria, and even Suriname. "We just realised the other day that there isn't a country in the world that hasn't visited our channel," says Keshav Dhanraj, drummer. Thank God Indians are everywhere, we say, and he laughs, "Yes! Bangladesh is the biggest consumer of our music!" And they admit that they are drawing in more women than men. "It's quite a tough fight," says bass guitarist Venkat Subramaniyam, who is scrolling through figures as we talk over watermelon juice at the clubhouse of their plush residential complex in Madh-Marve. "It's 50:50," he adds, "women are more active on social media, I mean they comment more, but otherwise the gender ratio is roughly equal."


Pic/Nimesh Dave

It has taken them a while to get here. Brothers Sanam and guitarist Samar Puri, from Delhi, Subramaniyam, from Bengaluru and Dhanraj, from Chennai won a contest called SUPASTARS hosted by a recording label in 2010. Free gigs, great for exposure, but not of particular value, followed, until they met their manager Ben Thomas. "Under Ben's guidance, we started making videos and music of all types [originals and Hindi, English covers], says Dhanraj. Their first song, Hawa Hawa, saw a decent traction. But then, a cover of Lata Mangeshkar's Lag Jaa Gale got them almost 36 million views (and counting).

But their success is also a product of consistency. The first-time visitors on their channel often discover other songs, which they may not have done as well when they released, but gradually gained popularity. "So, our song, Dua [23 million views] which is an original, got popular after people had already discovered us through perhaps a cover version of some song, and wanted to listen to other stuff," says Sanam. They do remember the time that they tried first to get their songs heard. "I have been banned by Facebook so many times because I have spammed so many people [in an attempt to get them to hear our music]!" laughs Dhanraj. "I remember tagging people in the comments section of our videos. Facebook only allows 10 mentions per comment. So, you can imagine how many comments I posted!" smiles Sanam.

Today, they have the numbers, but they won't take their success for granted. They try and put up at least one new video every month (original or cover), update their social media accounts every few hours, and tour the country and outside. They now have a team that handles the logistics, including mixing and editing of videos, so they can "concentrate on the music". "We used to do it all ourselves. Now, it's about making music we are proud of so that you, the listener, likes it."

Ask them if they will ever ditch covers for originals only, and they have a smart, sorted reply. "In India, originals are respected more. We get that, and we aim to make more and more of them. But in many countries we visit, our fans are into the classics, like Mohammed Rafi's songs, and we want to give them what they want. They are our unique versions, they carry our stamp, in any case," says Subramaniyam.

As we leave them, they tell us about their musical influences, and there are some surprising answers. Sanam doesn't listen to much else because he doesn't wish to influenced, but if he must, he will pick, "strings and background music". Subramaniyam loves funk and blues, and Dhanraj and Samar like Arabic tunes. As Samar says, "We sing in all languages, and with our success and fan base, we now get that music really does have no language."





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A BBC radio show proves proves Mumbai's arts' scene is nothing short of buoyant

On the stage at the majestic Royal Opera House, artistes take their seat in a semicircle for what is an unusual gathering. At the centre is British radio and television presenter Nikki Bedi, who, along with familiarising her guests with the flow of the show is also breaking the ice between participants. They are here to record The Arts Hour, a BBC radio production that goes on a tour once a month to capture the best in arts across the world. The Mumbai edition airs today.


Actor Bhumi Pednekar (with Nikki Bedi to her right) calls out the boors behind Padmavati protests. Pics/Pic/Bipin Kokate

In the city on the evening of November 22, the researchers have picked six artistes who they feel best represent the dynamic cultural scene of the city. Flanking Bedi are film critic and director of the Mumbai Film Festival Anupama Chopra, and actor Bhumi Pednekar. Seated next to them are stand-up comedian, screenwriter and novelist Anuvab Pal, and Shamir Reuben, head of content and social media at the spoken word collective, Kommune. On either side of the stage, fine-tuning their arrangements are the popular Hindi rock ensemble Anand Bhaskar Collective and pop duo from Kolkata — with a big fan following in Mumbai — Parekh & Singh in signature fruity suits. "The show is a way of seeing a people and their culture, and understanding their politics and issues through the prism of art. Stand-up comedy and spoken word are burgeoning fields in Mumbai. There is also a sea change in the kind of subjects that Indian cinema is choosing. Issues like sanitation, erectile dysfunction and fat shaming are not just making it to film, they are also managing to attract audiences into theatres," says Bedi about why it was a good time to come to Mumbai.


Nischay Parekh readies to perform the band's hit song

For this edition's research, Bedi, who was born a Moolgaokar and has roots in Mumbai, played the fact checker for producer Nicki Paxman along with providing other insider inputs. A regular feature of the show, The Culture Cab, involves the presenter hailing a cab with an artiste who then takes her around the city to explore it like a local. Though her Mumbai guide was Pal, with whom she explored the splash of global colours at the ongoing Sassoon Docks art project and the murals of Bandra, Bedi shared her favourite part of the city with him, too — Walkeshwar's Banganga.

Throughout the recording that lasted two and a half hours, the team's homework kept the conversation alive and relevant. Bedi, a natural at hosting, puts her guests at ease. It comes across in Pednekar's candour, who minces no words when asked about the ongoing controversy around Padmavati. "You know, these are people who don't give a s**t about history," she says, a word Paxman gets politely replaced at the end of the show with the milder "damn". Bedi then moves on to ask Pal and Reuben if comedy and spoken word have become popular for similar reasons and how social media has played a part. With artistes as guests, each segment packs in a performance. While Pal's jibes about SoBo residents have the audience in splits, Reuben's poetry moves many to tears. Vocalist Nischay Parekh of Parekh & Singh shares the inspiration behind their music video with a million hits, I Love You Baby, I Love You Doll, before performing it, and Anand Bhaskar shares why all his compositions are in Hindi before segueing the show to its end with a rendition of Fanaa.


An audience member comments about the need to see more everyday people in films

Rahul Baswani, who came to know of the show through Pal's tweet, is happy to have made it in the audience. "I listen to a lot of podcasts. So, the most fascinating bit for me was towards the end when they did the retakes," he says. In the green room, mutual understanding and fandom fill the air. "At the end of the day, we are all artistes, and we could feel the synergy and a shared language throughout," says Parekh, who has just promised Pal that he'll be there for his Kolkata gig the next day, even as Pal admits that the music duo is everything he would have wanted to be as a 27-year-old.


The sound engineers at work

Chopra, on the other hand, is happy that the show recognises the power of Indian cinema and how it is evolving. "Outside India, there is a fixed notion of what Bollywood is. But there is a different language [spoken] now, which most people don't know of. I am hoping that the show will communicate that." For Reuben, it has been a platform for artistic exchange. "The beauty of tonight was people might have come to watch comedy and they learnt a bit about spoken word. Or that they wanted to hear a poem and they left with music," he says. "For the BBC to say that there is something stirring in Mumbai is a statement."





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Why you can't get enough of your favourite songs

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If you have played your favourite Kishore Kumar song or a Beatles classic umpteen times but do not know why you forget to press the stop button for some particular numbers, new research offers some clues. Listeners often engage and develop a "deep connection" with some of their favourite songs, said the study published in the journal Psychology of Music.

The study involved more than 200 participants who completed an online questionnaire about their experience listening to their favourite song, including how it made them feel and the frequency with which they played the song. The participants reported listening to their favourite song hundreds of times.

The mean among the sample was more than 300 times and this number was even larger for listeners who had a deep connection to the song -- something that was particularly likely if they had mixed emotions, such as "bittersweet," while listening. Certain features of the song were particularly important reasons why respondents listened many times, said Jason Corey, Associate Professor of Music at the University of Michigan in the US and a co-author of the study.

The most important features were the song's "melody," "beat/rhythm" and "lyrics", the study found. For songs that made listeners happy, beat/rhythm was especially important for relistening. Finally, the more times people listened to their favourite song, the more the listeners could hear it internally, the researchers said.

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Do you know these health benefits of bottle gourd or doodhi

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A bottle gourd or dudhi as we call it is one of the healthiest vegetables. When it is fresh, the fruit has a light green smooth skin and white flesh. Doodhi is about 92 percent of water and minerals which keeps your body hydrated. The bottle gourd or doodhi has a long list of health benefits. Dr. Manoj Kutteri, Wellness Director at Atmantan Wellness Director lists some of them

  • Cooked bottle gourd aids for better digestion. It is cooling, calming, diuretic and anti-bilious (reduces bile and stops indigestion). The B vitamins assist in increasing the body’s metabolic rate to better digest fats, proteins, sugar and carbohydrate.
  • Like cranberries, bottle gourd supports the kidneys and the urinary system of our body by reducing burning sensation from high acidic urination. It also reduces the chances of urinary infection because it is alkalizing and has a diuretic effect. Consume if you have high creatine and uric acid.
  • A nutritious vegetable for the female reproductive system.
  • It is extremely popular for weight loss especially the bottle gourd juice.
  • Bottle gourd is extremely popular for reducing high blood pressure and bad cholesterol in some people.
  • Bottle gourd is known to combat excessive thirst in diabetic patients.
  • The fiber and the minerals in the bottle gourd support healthy digestion and combats constipation, colic pain and ulcer.
  • Helps to prevent premature greying and improve hair growth.
  • The Vitamin C and Zinc in lauki prevent pre mature aging and wrinkles as well.
  • Bottle gourd is recommended for reducing liver inflammation.
  • Lauki juice taken with ginger or black pepper can help with respiratory health.
  • Bottle gourd is over 90% water therefore it is easy to digest
  • The vitamins, minerals and dietary fibre in lauki keep the body well-nourished and curb unnecessary appetite, especially if you drink its juice in the morning on an empty stomach.
  • It also contains sodium, potassium, essential minerals and trace elements, which regulate blood pressure and prevent the risk of heart ailments.
  • High in sodium and potassium, bottle gourd is also an excellent vegetable for people with hypertension.
  • Mixing the juice with sesame oil provides an effective medicine for insomnia. Massage the scalp with this preparation every night.

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'My mother thinks my girlfriend is not perfect for me'

How do I convince my mother that my girlfriend is perfect for me? She keeps thinking I will find someone better, just because she doesn't understand her very well. I want the two of them to get along, because they are both important to me. How do I make this happen?
She won't understand her until the two of them spend some time together and make an attempt to. To begin with, ask your mother if she wants to understand your girlfriend, and explain to her why she must try. You can't understand another person until you are open enough to give another point of view an opportunity. Speak to them both and tell them why this is important to you.

My boyfriend was great during the first year we were together, but something has changed over the past couple of months. He is now openly abusive, which came as a shock to me because he was always polite and well-behaved before. He now abuses me the minute we have an argument and, when I ask him to stop saying stuff like that and behave himself, he abuses me even more. A week ago, he almost slapped me. I saw him raise his hand and then pull back, because he must have seen my reaction. He apologised the next day, but it didn't seem like a genuine apology. I am afraid of him now, because his temper is out of control. I don't want to be with someone abusive, who doesn't respect me and actually threatens me with physical violence. Is this reason enough for me to end this relationship?
It is. End it today. Don't spend a minute with anyone who doesn't respect you. If he threatens you with violence again, please walk into the nearest police station and file a complaint against him. Don't allow anyone to get away with this sort of behaviour. Relationships work only when there is mutual respect, and you deserve to be with someone who understands that.

The inbox is now open to take your most carnal and amorous queries. Send your questions on email to lovedoc@mid-day.com

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How Jivya Soma Mashe made Warli painting relevant then and now


Yashodhara Dalmia with Mashe and his family in the early 1980s. Pic/Maseeh Rahman

When art historian and curator Yashodhara Dalmia first met Jivya Soma Mashe in the early 1980s, the Warli artist had just started working on paper instead of the walls on which his peers and ancestors had for generations. "I found it inventive, brave and fascinating," says Dalmia, who authored The Painted World of the Warlis: Art and Ritual of the Warli Tribes of Maharashtra in 1988.

Traditionally associated with the rituals and ceremonies of the Warli community, who reside in the Maharashtra-Gujarat border, the art form found new horizons through Mashe, who passed away on May 15 in Ganjad village, Palghar. He was 84. On his passing away, he was remembered as the artist who popularised the folk art form, rendering figures on paper smeared with cow-dung or a red background, and nudging Warli into mainstream visual culture.


Mashe's The Fish Bowl

Cultural theorist and curator Nancy Adajania says that it is a misconception that Mashe 'popularised' or 'preserved' Warli. "He did neither. He invented Warli art, as we know it today. He was a pioneer," she says. Before him, there was no "Warli art" as such. In its ritual form, it was practised in the Warli community by its women, not men, who would paint on the walls of their houses, a sacred square with the fertility goddess, surrounded by human and animal forms. "But Mashe wasn't consecrating the goddess in his paintings. He was a witness to his times, using the existing vocabulary of the ritual form and creating a new one," she says.

Cultural historian, prof Jyotindra Jain, who included Mashe in his seminal exhibition Other Masters: Five Contemporary Folk and Tribal Artists of India (1998), says the artist went far beyond the conventional themes of Warli, infusing the form with a narrative quality. "In 1998, Jivya produced an epic work comprising two large paintings on wooden boards entitled: My Life. This work relates to memory — memory of fragmentation and fear," he says.


(From left) Former gallerists Kekoo and Khorshed Gandhy with Mashe (centre) at his 1975 solo exhibition at Chemould Pic/ChemoulD Prescott Road archive

Jain's observation cuts through common misconceptions about Warli being a simplistic 'folksy' art. In My Life, a bipartite work, Jain observes that in one section, Mashe ruthlessly depicts a railway line cutting a village in two, dividing the fields, the river, the families, and the community. The second section depicts the memory of Jivya's first visit to this city, arriving at the Mumbai Central railway station filled with an ocean of people. "Despite the limited vocabulary of thin, linear humans of the Warli idiom, Jivya powerfully characterises each figure, be it a coolie carrying luggage, a policeman chasing a thief, or a monkey jumping on to a roof," he says.

In his paintings, we find signs of modernity — schools, railway junctions, as well as a depiction of the crafty moneylender, observes Adajania. His themes may find growing relevance now, as they did then, particularly through what Adajania describes as 'an environmental ethic' — an interdependence of human beings with other living things. Recalling one of his most famous and captivating works, Fisherman, she says, "A vast cosmic net held by a speck of a human being overpowers the painting. But this is not an expression of a competition with the powers of the divine; instead, Mashe is transmitting an ethic of empathetic coexistence among species, even as he asserts his own artistic agency."

The commercialisation of Warli art these days, says Adajania, is a symptom of a chronic problem faced by these artists. "They are susceptible to exploitation, because there are two unequal economies in our art world — one for the contemporary artist, the other for the so-called folk artist," she says. As a practice running parallel to other contemporary practices, as Mashe's did with the Bombay Progressives, there is the continuing need to give the art form the place it deserves. Dalmia, when she remembers that first meeting with Mashe, says he was living in poor circumstances. He would soon become the first from his community to find recognition, both Indian and international, as an artist.

Mentored by Bhaskar Kulkarni, a senior member of Crafts Board, Mashe had his first solo exhibition in 1975 at Kekoo and Khorshed Gandhy's Gallery Chemould. It was the first time that an exhibition of an artist from an indigenous community was held at a contemporary art gallery. When the gallery shifted in 2010, from Kala Ghoda to Fort, the gallerists decided to bid farewell by revisiting Mashe's works, instead of a group show of any of the other stellar Modernists. "He was not just an artist who transported the ritual tradition into a parallel contemporary form of art, but also a man of vision. He could foresee that this art would convey the daily life of his people and his own life," says Dalmia.

Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates





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'Mumbai, is the b*****d child no one wants'


Vikramaditya Motwane. Pic/Sayed Sameer Abedi

Vikramaditya Motwane, who is readying for the release of his upcoming film Bhavesh Joshi: Superhero, says the movie is about a b*****d child. Except, the protagonist is not a person, but a city. This city. With star kid Harshvardhan Kapoor playing Bhavesh, the film uses a superhero premise to discuss the water mafia, and what happens when vigilantes take matters in their own hands. The story started off as one film about a man, keen to take care of his street, but changed gears somewhere.

"I have been here 40 years, but my love for the city faded away when Bombay became Mumbai. I have mixed feelings about it now, although I can't live anywhere else. It's treated like a b****** child, which no one cares about. Everyone just wants to leech off it. People around the world take pride in where they live. Not us," says the director before he gets into the studio for a morning edit. At 41, Motwane is old enough to know that a superhero cannot solve a megalopolis' crises. But Batman and Superman arrived on the scene, he argues, because justice failed. "It takes one brave person to change society. Come watch my movie, and have fun, and if you walk away with being inspired to do the right thing, great. Make a change, and be a hero yourself," he smiles. Like Bhavesh then, Motwane is grappling with ills that threaten to destroy his city. Mid-day discusses what gets Vikramaditya Motwane's goat, over a cup of morning coffee.


Bhavesh Joshi: Superhero

Traffic
Traffic management is a nationwide problem. Cars are weapons; how can you let anyone and everyone drive? We all know how easy it is to get a license. I read somewhere that around 382 people die every day on our roads. Anywhere else, there would be a suit filed against the RTO for murder. And, we don't have pavements. Pedestrians have first right of way, but if they don't have anywhere to walk, they will walk the road and it's up to motorists to avoid them. This often leads to traffic snarls and accidents. Bombay has a phenomenal public transport system, but it's ageing. And so, people like myself drive. But traffic makes it stressful.

Garbage disposal
My apartment in Juhu started a waste management programme six months ago. It's 2018 and we are talking about segregation now! An incident, actually one of many, that led me to make Bhavesh Joshi was watching a mother and son eat pizza in heir car, and then fling the box and remains on the street. The other side to this conundrum is that the city doesn't have enough dustbins, and those that are there get stolen. But how do you blame a scavenger for wanting to make money off scrap metal?

Water harvesting
My father owns a building in Juhu. A few years ago, he got a waste water harvesting system installed there. Through it, dirty water is cleaned up and goes back into loos for flushing. It cost him only two-and-half lakh rupees. Every housing society can do it. We suffer floods every year in low lying areas because we get sufficient rain and our drains are clogged, but we waste that water.

Pollution
I have a three-year-old daughter and she gets a cold every other day. It's nothing but the polluted air that we breathe that's causing it. No one is working towards stopping it. We use too many cars, especially older cars. We don't have an incentive to use public transport anymore. I love walking — I walk to my mixing studio, which is one kilometre from home. I don't mind the heat, but just give me a pavement to walk. Because if you can't walk comfortably, you will end up using transport.

Also Read: Here's Why Vikramaditya Motwane Put Bhavesh Joshi Superhero On Hold For Over 5 Years

Catch up on all the latest Mumbai news, crime news, current affairs, and also a complete guide on Mumbai from food to things to do and events across the city here. Also download the new mid-day Android and iOS apps to get latest updates





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Tax-News.com: Technology Cutting Tax Compliance Burden: Paying Taxes 2018

The use of technology by business and government in tax compliance is driving continued simplification and reduction in the burden of tax compliance on businesses, says Paying Taxes 2018, a report by The World Bank Group and PwC.




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Tax-News.com: Russia Clarifies Tax Treaty Access Rules For Non-Res Holding Companies

In a letter dated August 8, 2019, the Russian Federal Tax Service amended the rules for non-resident holding companies to be considered as the beneficial owner of Russia-sourced income.




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Please let me know the advantages of GST, sectors will get impacted,products become costly (VALLUKANNA)

I request you to kindly give me your advise on GST which is going to be implemented very shortly. Thanks and Regards, Varadarajan Kasturi..




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Can we get an economist to do the column instead of Vivek Kaul? (Krishpkkk)

Mr. Vivek Kaul once again interpret numbers like a politician - Don't see any difference between him and our politicians - be it ministers in govt. or opposition. I think he has forgotten economics in his eagerness to score political brownie points. Recen..




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FM Nirmala Sitharaman Inherits an Economy Facing a Number of Headwinds

Posted by Equitymaster
      

A former defense and trade minister, Nirmala Sitharaman became the first woman finance minister of India after Indira Gandhi.

She has inherited an economy facing a number of risks.

She faces immense challenges as finance minister. India's economy is starting to splutter on the back of a slow-down in consumption and private investment.

Fixing this and jump-starting the economy are the first order of business.

The data released on Friday was disappointing at different levels.

Lower growth in GDP, stagnant growth in core sector in April 2019, and the government just about managing the 3.4% deficit number in FY19 pose puzzles for the new Cabinet which assumes responsibility of kick-starting the economy.

A look at key macroeconomic indicators presents a gloomy picture.

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Sinking GDP Growth Means FM Nirmala Sitharaman has to Push for Sweeping Reforms

According to the data released by the Central Statistics Office on Friday, gross domestic product (GDP) grew by only 5.8% in the last quarter of financial year 2019 (FY19), between January and March.

GDP Growth Slips to 5-Year Low


The data demonstrates GDP growth slowing steadily, from 8 to 7 to 6.6% in the first three quarters of FY19.

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

India's core economy grew at 4.3% in FY19, its second slowest pace in the past 5 years, down from 4.9% in FY15, according to latest data by the ministry of commerce and industry.

The 8 core industries include Coal, Crude Oil, Natural Gas, Refinery, Fertilisers, Steel, Cement, and Electricity.

8 Core Sectors Report Flat Growth in FY19


The growth rate is also flat since fiscal FY18 which had also recorded a 4.3% growth.

Manufacturing and Services Sector Activity Decelerates

Core sector growth will have a direct impact on the Index of Industrial Production (IIP) as these sectors account for a major chunk of total factory output.

Worries Rise as Factory Output Shrinks in March


The Index of Industrial Production (IIP) and the Manufacturing Purchasing Managers' Index (PMI) are used to gauge the level of activity in the manufacturing sector.

What Does the PMI Say?


The country's manufacturing sector performance fell to an eight-month low in April as new business growth moderated, curbed by the elections and a challenging economic environment.

The Nikkei India Manufacturing Purchasing Managers' Index declined from 52.6 in March to 51.8 in April, reflecting weakest improvement in business conditions since August 2018.

However, this was the 21st consecutive month that the manufacturing PMI remained above the 50-point mark.

In PMI parlance, a number above 50 means expansion, while a score below that denotes contraction.

The April PMI data indicated a softer increase in new orders had restricted growth of output, employment, and business sentiment.

Further, the Indian service sector lost momentum in April, with rates of new business and output growth both cooling to seven-month lows.

Indian Service Sector Loses Momentum Too


Falling from 52.0 in March to 51.0 at the start of FY19, the seasonally adjusted Nikkei India Services Business Activity Index pointed to the weakest upturn in output since last September.

Besides these, there are many other indicators of a slowdown.

A decline in consumer demand, a slowdown in government spending, and weak private investment have likely impacted India's growth in the fourth quarter.

One such high frequency indicator is automobile sales.

What do these numbers indicate?

Vehicle sales are a very important economic indicator about how the people of India feel about their economic prospects.

After all, no one is forcing anyone to buy a car and given that if a consumer buys a car, he chooses to make a down payment and/or take on an EMI.

This is only possible if the consumer is feeling positive about his future economic prospects.

Automobile Sales Skid as Demand Remains Sluggish


On Saturday, India's largest carmaker, Maruti Suzuki, reported a 22% decline in sales in May, the lowest in seven years.

Other auto-makers such as Tata Motors, Eicher Motors, and Hero Moto Corp reported declines in sales too.

All these economic indicators basically provide evidence of the Indian economy slowing down further since January 2019.

Another major area that needs immediate attention by the government, is job creation.

According to a CMIE survey, the unemployment number stands at 41 million people. That is too big a number to be ignored.

Now, job creation at such a mass level won't be a walk in the park. To set the wheels in motion, the government will have to look at infrastructure spending.

Capacity expansion in new projects has seen a gradual slowdown in the past few years.

Infra Capacity Expansion Likely to Be the Key Focus of the Modi Government


From Rs 3.3 trillion in June 2018, the number has come down sharply to Rs 2.1 trillion as of March 2019.

Co-head of research, Tanushree Banerjee believes this is first area the government will look to focus on.

Apart from creating jobs in the infrastructure sector, it opens a lot of other avenues.

Here's an excerpt of what she wrote in The 5Minute WrapUp:

  • Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.

    This is a trend I see clearly playing out in the coming years.

    Infrastructure spending -> Improved roads -> Increased two-wheeler sales.

    It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

Typically, when the capacity utilisation rises, it prompts companies to expand their capacities. If this gradual pick-up sustains, it could lead to a pick-up in private sector investment.

Thus, a revival in the investment cycle could be underway despite the current economic slowdown.

And, as far as equity markets are concerned, participants were expecting a weak fourth quarter growth data.

As such, the now published data may not weigh on the market but will raise expectations from the government and the RBI.

The pressure points in the form of finance, tax rates, infra expenditure, specific sector-related policies etc, must be addressed.

While the weak GDP data will be an important input for the Union Budget.

Most investors are now keen to know what's in store in the first week of July.

Warm regards,
Rini Mehta



This article (FM Nirmala Sitharaman Inherits an Economy Facing a Number of Headwinds) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know

Posted by Equitymaster
      

Coronavirus fears have spooked the investors worldwide with BSE Sensex and NSE Nifty falling over 25% this month, in line with many other global indices.

After sharp corrections in three trading sessions on March 9, March 12, and March 16 by 5.1%, 8.1% and 7.9% respectively, the Sensex crashed by an overall 22% this month.

Let's dive a bit deeper and look at how the impact has been on individual sectors...

  1. While all sectoral indices are in a sea of red since the outbreak of coronavirus, here's a look at the worst hit sectors since coronavirus outbreak:
    Sector Since 1 March (%) Since 1 Jan (%)
    BSE Metal -30% -45%
    BSE Bankex -31% -37%
    BSE Oil & Gas -24% -36%
    BSE Auto -24% -36%
    BSE Finance -30% -36%
    BSE Realty -31% -36%
    BSE Capital Goods -25% -33%
    BSE Power -22% -32%
    BSE Basic Material -26% -32%
    BSE Consumer Discretionary -24% -28%
    BSE IT -25% -27%
    BSE FMCG -18% -22%
    BSE Consumer Durables -24% -20%
    BSE Healthcare -15% -15%
    BSE Telecom -18% -14%
    *Note that prices are as on 19 March 2020
  2. As you can see in the table above, metal sector has been hit the worst on year-to-date (YTD) basis. Note that, the sector has been witnessing selling pressure since last two years. The coronavirus situation has only exacerbated the situation.
  3. Another sector that is largely impacted is banking and NBFCs. After being the most preferred in the Indian equity indices for over half a decade, things have changed for stocks in the financial sector. In India it is a double blow for financial sector in the form of YES Bank fallout and prolonged slowdown which increased the chances of credit quality deterioration.
  4. To put things into context, foreign institutional investors (FIIs) were heavily positioned in the Indian financial space, and stocks in the sector witnessed maximum inflows during good times. Downward spiral for financial sector began since IL&FS crisis.

    Both, BSE Bankex and BSE Finance Index have plunged over 30% since the beginning of the month.
  5. Shares of most hotel, leisure and airline firms have tumbled over 60% year-to-date, as the coronavirus outbreak across the world has forced people to cancel vacation plans. India also stand to lose foreign tourists due to the entry restrictions that have been put in place. And this has meant things getting worse for hotels and airlines sector.
  6. Out of the 90 stocks listed on BSE from tourism, hospitality and film distribution segments, only 15 have given positive returns YTD.
  7. Another sector that's facing the brunt is the automobile sector. Coronavirus couldn't have come at a worse time for India's auto sector that is battling a prolonged slump in demand. The virus outbreak has added to the pain, hitting production and lowering the demand even further as consumer spending is unusually low. Reportedly, the correction in the auto index is now close to what was seen during the 2008 global financial crisis. BSE Auto Index is down 36% on a YTD basis.
  8. The fall in other indices like FMCG, consumer durables, capital goods and IT is relatively moderate as they do not have any direct impact of the pandemic. However, they too have been witnessing selling amid the sharp correction in Indian share markets.
  9. Interestingly, Indian pharma has been doing much better than the overall index. Since the beginning of March 2020, the Sensex is down by 26% while the BSE Healthcare index is down only by 15% (till 19 March 2020).
    • One factor is the rupee weakness which has weakened well beyond the Rs 75/$ mark. A weak rupee helps exporters and pharma obviously benefits.
    • Another factor is the spread of the novel coronavirus has led global investors to rush for pharmaceutical stocks recently, on back of a rise in demand for generics and branded generics leading to shortages and over-pricing for drugs.
  10. However, as the markets took a breather on Friday, the sectors that rallied the most were BSE FMCG, BSE IT and BSE Oil & Gas indices, gaining over 8% each.

What do you think will be the long-term impact for these sectors? Well, you can let us know by dropping your views in the comments section below.

While most sectors have been falling, our co-head of research, Tanushree Banerjee believes in long term, Indian auto ancillaries, textiles, chemical companies, Pharma R&D contract manufacturers, will all be the major beneficiaries of what she calls the Rebirth of India megatrend.

Also, in times like these, our special report, How to Trade the Coronavirus Crash, will help you get a grip on the current market situation...and figure out ways to profit from it.

This is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. I strongly recommend you read it now. Claim your FREE copy here...

Happy Investing!



This article (Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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Indian Banking Sector Amid the Corona Crash - 10 Points to Know

Posted by Equitymaster
      

Most sectors in the Indian share markets have been drowning in a sea of red due to the crash led by coronavirus outbreak. The biggest blow, however, has been felt by the banking sector.

The sector was already reeling under pressure due multiple factors for quite some time. And things started getting worse since the start of 2020.

Here's a timeline showing some major events that happened in the Indian banking sector and led to the slowdown we are witnessing in the past few months...

  1. Mounting Pile of Bad Loans: Indian banks have for years worked to beat down mounting piles of bad loans of the sort that led to the Yes Bank fallout. The ratio of gross non-performing assets (NPAs) at Indian banks rose to 11% in 2018 from about 2% in 2008, before starting to ease off.
  2. IL&FS Crisis Kicks Off the Downward Spiral: Foreign institutional investors (FIIs) were heavily positioned in the Indian banking and financial space, and stocks in the sector witnessed maximum inflows during good times. However, they started noticing cracks with consistent negative performance in the banking and financial sector and started moving out of them. The downward spiral for these sectors began since IL&FS crisis camec out into the open.
  3. Credit Quality Deteriorates: After being the most preferred sector for over half a decade, things started changing for stocks in the banking sector since 2020. This came as the sector witnessed a double blow in the form of YES Bank fallout and prolonged economic slowdown. And all this only led to credit quality deterioration for banks.
  4. YES Bank Crash: The Yes Bank crisis and the sight of Rana Kapoor being taken to court in early March came in as one of the worst months for India's banking sector.
  5. Bailout for Yes Bank: To save Yes Bank, a range of Indian lenders led by the State Bank of India (SBI), infused funds in return for an equity stake. The episode came as a jolt to investors, who worried it could exacerbate vulnerabilities in the financial system.
  6. Panic Selling Amid SC Order: Then came another blow. Before the dust settled on Yes Bank, the Supreme Court ruled that telecom operators must pay dues worth billions owed to the government. This caused panic-selling in bank stocks due to their heavy exposure to the telecoms sector.
  7. Coronavirus Threat: The challenges now facing India's banking sector have reached another order of magnitude due to the coronavirus threat to the economy. Banking stocks have been among the hardest hit.
  8. Sharp Fall for BSE Bankex: The BSE Bankex has fallen about 46% so far this year, outpacing the 32% fall in the BSE Sensex. Shares of Axis Bank and IndusInd Bank have lost the most during this period.
  9. Relief Measures: Owing to all these shocks, banks have sought various relief measures. On 27 March 2020, the Reserve Bank of India (RBI) came out all guns blazing to arrest a potential slowdown caused by coronavirus (Covid-19). It did not just lower the cash reserve ratio (CRR) by 1% to 3% but also cut the repo rate by 0.75%. Also, there is a three-month moratorium on payment of loan installments.
  10. PSB Merger: Then came the major announcement effective from 1 April 2020. First announced in August 2019, the government's ambitious plan to merge 10 state-owned banks into four came into effect from 1 April 2020. The move, aimed at strengthening the banking system and creating more large institutions with size and scale, has seen...
    • Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank,
    • Andhra Bank and Corporation Bank merged into Union Bank of India,
    • Allahabad Bank merged with Indian Bank, and
    • Syndicate Bank amalgamated into Canara Bank

So, that were some top pointers on what the Indian banking sector has been going through amid the coronavirus led stock market crash.

I reached out to Tanushree Banerjee, who is closely tracking the banking sector in the current scenario. Here's her view on the sector...

  • The Covid-19 lockdown has hit cash flows of both individual borrowers and corporates. This, in turn, will impact their loan repayment capability.

    The RBI's repo rate cut came as a temporary lifeline for Indian companies with debt on books. It will offer both companies and retail borrowers some breather. If banks use this phase judiciously, it may save the NPA ratios from worsening significantly.

    However, only the banks that have adequate capital and provisioning cushion may be able to tide over the economic crisis. Eventually, another round of consolidation in private sector banks, like the one after 2002, cannot be ruled out.

Tanushree's latest StockSelect recommendation is one such midcap bank.

You can read the entire report here (requires subscription).

Also, speaking of ongoing stock market crash, our special report, How to Trade the Coronavirus Crash, is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. You can claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!



This article (Indian Banking Sector Amid the Corona Crash - 10 Points to Know) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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The Sharp Fall in Indian Rupee: 6 Points to Know

Posted by Equitymaster
      

As the Coronavirus pandemic continues to haunt the global financial markets, the rupee has been hit badly.

The domestic currency has been continuing its downtrend and hit its record low level against the dollar last week.

Here's a timeline showing how the Indian rupee has performed lately and the factors behind it...

  1. Rupee in 2018:

    The Indian rupee was the worst performer in Asia in 2018. As can be seen from the chart below, it fell by around 12% against the US dollar. This was seen due to a strong dollar and high oil prices in 2018. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey weighed on the rupee in 2018.

    Indian Rupee: The Worst Performing Currency in Asia in 2018

  2. Rupee in 2019:

    The rupee traded on a volatile note last calendar year. However, for most of 2019, it traded on a negative note against the US dollar.

    While it started the year at 69.71 against the US dollar and also witnessed some uptrend from April 2019 to August 2019, it went on to depreciate during the end of the year. On December 2019, it ended at 71.31 against the US dollar.

    Rupee Trades was Volatile in 2019

  3. Rupee in 2020 So Far:

    On a year-to-date (YTD) basis, the rupee has depreciated sharply against the US dollar. While it started the calendar year 2020 at 71.28 against the US dollar, it is currently trading at 76.27 against the US dollar. This translates to a depreciation of around 7% for the domestic currency.

    YTD Performance of the USD/INR

  4. Downtrend in March 2020:

    The massive sell-off in equities and bonds led to a huge fall in rupee against the dollar in the month of March 2020. Most of the selling pressure was due to the slump in equities and currencies globally.

    Investors were concerned that support measures from governments and central banks may be insufficient to halt the economic damage caused by the coronavirus pandemic.

    Here's how the currency performed in the month of March:

    Huge Depreciation of the Rupee in March 2020

  5. Rupee Hits Record Low in April 2020:

    The rupee fell to a new record low of 76.55 against the US dollar on 9th April, 2020.

    This was seen as a rise in coronavirus cases fanned fears of the government extending the lockdown to contain the pandemic.

  6. Factors Behind the Rupee's Fall:

    Some major factors behind the recent fall in rupee are...

    • Weak sentiments in the currency markets due to global risk aversion
    • Sharp fall in the Indian stock markets
    • Sharp fall in global financial markets due to coronavirus fears
    • Strengthening dollar
    • Thin liquidity due to reduced participation

These are some top pointers on how the Indian rupee has been performing in recent years and amid the coronavirus led stock market crash.

I reached out to Vijay Bhambwani, editor of Weekly Cash Alerts, who is closely tracking the Indian rupee in the current scenario. Here's what he has to say...

    The onset of Corona virus has not been kind to the INR.

    The Rupee futures (USDINR ) opened in March at 72.36 and have closed at 76.61 on April 09 2020. That is a decline of 5.87% in 6 short weeks.

    The implications of the same will be widespread. India is a net importing Country. Everything that we import will now be more expensive. Approximately two thirds of all our imports are fossil fuels. Fuels are what we call multiplier effect commodities. If fuel prices rise at the petrol pumps, everything from fruits, vegetables, grains to dairy and poultry products get expensive.

    That impact will be felt at a later date. I expect the trickle down effect to start appearing in prices after the April-June quarter is over.

    I have already factored in this aspect in my statistical data model and plan to identify such events to generate profitable trading opportunities for my WCA plan subscribers.

Vijay has also talked about the Indian currency in a special edition podcast from Investor Hour. He shares what's around the corner for Indian rupee and how to should position oneself for potential gains.

You can listen the entire episode here...


Speaking of ongoing stock market crash, our special report, How to Trade the Coronavirus Crash, is the most comprehensive report on how to trade the coronavirus, both from a short-term and long-term perspective. You can claim your FREE copy here...

And rest assured, Equitymaster is with you all the way on this journey. To that end, we have decided to offer you two of our premium learning courses free!

From the comfort of your home, you can learn the basics of fundamental investing with Equitymaster Secrets and the ins and outs of making money using derivatives with Derivantage. Get started right away.

Happy Investing!



This article (The Sharp Fall in Indian Rupee: 6 Points to Know) is authored by Equitymaster.

Equitymaster is a leading 'independent' equity research initiative focused on providing well-researched and unbiased opinions on stocks listed on the Bombay Stock Exchange.




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Sachin Tendulkar shares sports injury knowledge with 12,000 doctors

Always eager to share his vast knowledge and experience, cricket icon Sachin Tendulkar has interacted with 12,000 doctors on sports injuries. In his over two decade long illustrious career, Tendulkar suffered many health issues, the most prominent being the tennis elbow injury.

The veteran of 200 Tests and 463 ODIs, got to know through one Dr Sudhir Warrier, an orthopaedic surgeon, that several young doctors across the country were utilising the lockdown time to effectively gain knowledge on sports injuries through live webinars. A session on sports injuries was held on Saturday and Tendulkar, knowing that his experiences will help these doctors, volunteered to be a part of it.

Tendulkar, accordingly, interacted with around 12,000 doctors, who attended the session. It is reliably leanrt that the 46-year-old legend said he was grateful to the medical fraternity for their service. During the session, the young orthopaedic doctors got to know how the requirements and treatment outcomes of athletes are different from regular patients, sources said. Dr Warrier moderated the session with Dr Nitin Patel, physiotherapist, who has worked with Indian cricket team and IPL franchise Mumbai Indians.

Catch up on all the latest sports news and updates here. Also download the new mid-day Android and iOS apps to get latest updates.

Mid-Day is now on Telegram. Click here to join our channel (@middayinfomedialtd) and stay updated with the latest news

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever




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Virat Kohli is good enough to adapt to any situation: Nathan Lyon

As all sporting action across the world has come to a halt due to the coronavirus pandemic, Australian bowlers are pondering as to how Indian skipper Virat Kohli might play in front of no spectators. India and Australia are scheduled to play a four-match Test series later this year, and it is being speculated that the series might end up taking place without any crowds due to the COVID-19 pandemic. Australian spinner Nathan Lyon on Tuesday said that it would be interesting to see how Kohli goes about it if he does not get a chance to get the audience behind him. "He is probably good enough to adapt to any scenario. But I was talking to Mitch Starc the other day and we actually said that if we are playing with no crowd, it'll be quite amazing to see Virat trying to rev up the empty seats," cricket.com.au quoted Lyon as saying.

"It is going to be a little bit different, but Virat is a superstar. He will be able to adapt to any climate that we are able to play in," he added. During the 2018-19 series, India managed to defeat Australia in Australia for the first time in a Test series. Australia, at that time were without the services of David Warner and Steve Smith. However, the series later this year promises to be a mouth-watering prospect. "I am excited about the prospect of India coming out to Australia, it's up there with the biggest series alongside the Ashes. They are an absolute powerhouse of the cricket world, and to have those guys out here is going to be fantastic. Playing in front of crowds or no crowds is out of our control, we have got to follow the advice of all the amazing medical people around the world," Lyon said.

"I have not thought about no crowds or massive crowds, it is just about the opportunity of playing against India again. They had the wood over us last time they came over here but we are a much stronger Australian cricket side at the moment, and I am just unbelievably excited about playing them here at home," he added. Lyon was slated to represent Hampshire in County Championship this year, however, his stint was called off last week due to COVID-19. He is Australia's third-highest wicket-taker in the longest format of the game as he has total of 390 wickets in Test cricket. Lyon was last seen in action in the Big Bash League for Sydney Sixers.

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Shoaib Akhtar responds to Sunil Gavaskar: There was snowfall in Lahore

Former Pakistan fast bowler Shoaib Akhtar responded to Sunil Gavaskar after the former India skipper said that it was more likely to snow in Lahore than a bilateral series to take place between India and Pakistan any time soon. Akhtar pointed out in a tweet that there was indeed snowfall in Lahore last year. "Well Sunny bhai, we did have a snowfall in Lahore last year.. So nothing is impossible," said Shoaib in his tweet which included an image of Gavaskar with his quote and an image of snow in Lahore.

Akhtar was the first to suggest that India and Pakistan should play a bilateral series to raise funds in the fight against coronavirus for both countries. Gavaskar however said in a Youtube chat with former Pakistan captain Ramiz Raja that any possibility of such a series happening is next to nothing. "There are more chances of snowfall in Lahore than bilateral series between India and Pakistan," said Gavaskar in a Youtube chat with former Pakistan captain Ramiz Raja.

"Both teams will keep on meeting in World Cups and ICC tournaments, but a series between them seems unlikely right now." Earlier, Akhtar's suggestion got backing from his former teammate Shahid Afridi. But India's 1983 World Cup winning captain Kapil Dev said that the match wasn't needed because India doesn't need funds.

"The entire world is fighting against coronavirus and we need unity in our region to defeat this common enemy. Such negative comments don't help at all. I don't see anything wrong with Shoaib Akhtar's suggestion for Pakistan and India to play cricket. "Kapil's reaction has surprised me. I expected better from him and feel one should not talk like this in these crisis times. Sport is supposed to bring people together and build bridges. It is pretty disappointing," Afridi had said.

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Stats man Mohandas Menon's discovery is worth looking into

YouTube is becoming more than just a great ally during the Coronavirus-caused lockdown. On Friday, ace cricket statistician Mohandas Menon stumbled upon something that could force a change in the record books if dug deeper.

Menon happened to watch a Pathe Films news clip of the 1936-37 Ashes Test in Brisbane, where Gubby Allen’s Englishmen were in early trouble against Don Bradman’s Australia on a sticky wicket.

Arthur Fagg, who came in at the fall of TS Worthington’s wicket, is seen being caught by a short midwicket fielder. However, in the scorecard of that Test, Fagg is mentioned as caught behind by Bert Oldfield off Ernest McCormick for four.

Worthington departed, caught by Oldfield off the first ball in the Test.


Arthur Fagg

“While watching the 1936/37 #Ashes series - the 1st Test at Brisbane (4 Dec 1936), I find that England’s Arthur Fagg in the first innings was caught by a fielder at short mid-wicket and not by wicketkeeper Bert Oldfield. But all sources since then, ie in the last 83-and-a-half years have recorded it in the scorebooks as ‘caught Oldfield’. Time to change this error,” wrote Menon on his Facebook page. When this writer asked Menon what made him compare the footage to the scorecard, he replied: “Usually, when I watch old film clippings, I keep the scorecard ready so I can match the unknown players who are batting, bowling or fielding.”

There is a small possibility that the producers of the newsreel may have got the batsman wrong and the scorecard is right, but with Australians being no slouches when it comes to digging up archives (one Aussie recently found coloured footage of Bradman’s last competitive game at the Sydney Cricket Ground in February 1949 in his garage), this case is worth digging up. If the footage is right, will there be a change in Oldfield’s 130 Test dismissals?

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Mohammed Shami: My priority is seam and swing, not pace

Team India boasts of a fast-bowling attack that skipper Virat Kohli says he is proud to lead. And the man who has been an integral part of the transformation of a young attack into world beaters is Mohammed Shami. Having started off under former skipper MS Dhoni, Shami is now the leader of the pack under Kohli. While bowlers tend to get slower as a Test match progresses, Shami is someone who gets better with each passing session and has time and again shown that he can be a match-winner in the second innings for Team India. So what is his area of focus when he has that ball in hand?

"I try to ensure that my pace doesn't fall below the 140kmph mark, but my focus is on the seam and swing. I have always tried to make sure that these two things remain perfect. I can bring pace with my physical strength and you can always work on it by doing strength training. But I have always given priority to swing and seam and never for a minute let them take a backseat," he smiles.

"As you keep playing, you learn a lot of things. It is all about following one process after the other. So, when you have learnt one trick and mastered it, you then move to the next one and work on that. In the beginning, I didn't have much idea about reverse swing. But slowly I came to understand what the process of reverse swing is all about and how it can be an integral part of a pace bowler's armoury," he explained.

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DDCA secretary Vinod Tihara in Meerut jail, does not have COVID-19

Controversial Delhi and Districts Cricket Association (DDCA) general secretary Vinod Tihara is in a Meerut jail for allegedly violating GST norms, a development which has come to light a month after he went "incommunicado" and fuelled speculation of being self-isolated with symptoms of COVID-19. "A Delhi resident named Vinod Tihara was arrested by Directorate of Revenue Intelligence (DRI) wing of Noida on March 17 on allegations of violations of GST norms and is currently in Meerut jail," SSP Meerut, Ajay Sahni, told PTI.

The SSP's version was later corroborated by Meerut Jail Superintendent Dr B P Pandey, who gave more details on the charges against Tihara. "Vinod Tihara, a resident of Delhi's Rohini has been in Meerut jail since March 17. The case no is 2/20 and he has been charged under Customs Act 132 and 135," Pandey said. Under Section 132 of Indian Customs Act, "if a person knowingly makes, signs or uses, or causes to be made, signed or used, any false declaration, statement or document in the transaction of any business relating to the customs, he shall be punishable with imprisonment for a term which may extend to 2 years, or with fine, or with both."

Under section 135, there are multiple clauses and sub clauses dealing with "misdeclaration, fradulent evasion and carrying, concealing or purchasing goods which are liable to confiscation." There was no immediate clarity on the exact violation Tihara has been accused of committing. Tihara is Delhi cricket's representative at the BCCI and an influential figure in state's cricket body. He had been "unreachable" since mid-March leaving DDCA officials, including members of his faction, flummoxed.

"For the longest time, we were under the impression that Vinod ji has tested positive for COVID-19. One or two people who contacted his family members were told that he is under isolation. His phone is switched off for the past one month," a senior DDCA office-bearer told PTI. During a recent online hearing in a matter of financial misappropriation of funds, organised by DDCA ombudsman Justice (Retd) Deepak Verma via Skype, one of the body's lawyers, known for his proximity to Tihara, told the apex council members that he had tested positive for novel coronavirus.

"We all freaked out as we had met Tihara till March 15 at various places. We told him that why weren't we informed as we all needed to quarantine ourselves. "He then changed track and said that if you people would have been COVID-19 positive, then you would have known by now. It was very suspicious," the Apex Council member who was suspended that day, said.

In fact, some of the members are now wondering how did a letter signed by Tihara in support of one of the lawyers, whose service was being terminated, was submitted to Ombudsman, when all this while he had been in jail.

It is understood that because of the lockdown, his bail plea has been deferred.

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Sachin Tendulkar will not celebrate his 47th birthday due to COVID-19 crisis

Indian cricket legend Sachin Tendulkar, who will turn 47 on Friday, will not celebrate his birthday due to the ongoing coronavirus crisis in the country.

A source close to Tendulkar revealed cricketer's decision to ANI.

The whole country is currently dealing with the COVID-19 crisis which has claimed more than 600 deaths so far in India. In an attempt to contain coronavirus, Prime Minister Narendra Modi on April 14 extended the nationwide lockdown until May 3.

Several sports personalities have come forward to contribute to PM-CARES Fund to help the country combat coronavirus.

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No Mumbai visit for Sachin Tendulkar's fan Sudhir

Before becoming India cricket's most famous fan, Sudhir Kumar Gautam came to be known as Sachin Tendulkar's biggest supporter by painting his body in the tri-colour and blowing his conch shell every time Tendulkar took guard.

There hasn't been a year when the crazy fan has failed to meet Tendulkar, 47, on his birthday since November 2003, when Sudhir, 39, first met the Indian batting legend. Today will be different due to the nationwide lockdown. "I am sad that I won't be able to meet and wish Sachin sir this time. However, I will call to wish him. Sachin sir too has decided not to celebrate his birthday this time [due to the worldwide health crisis]," Sudhir told mid-day on Thursday from New Delhi where he is put up at his friend's home. He lives in Muzzafarpur, Bihar.

"For the last three years, I have gifted him something on his birthday. Once it was a Lord Ganesha painting made by me. On other occasions, a collage of his old pictures put together by me. I will share my special gift for him on Instagram tomorrow," he said.

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COVID-19 impact: No match fees for West Indies cricketers since January

West Indies cricketers haven't received their match fees since January as Cricket West Indies (CWI) seem to be struggling to generate funds amid coronavirus pandemic which has stalled the game.

According to a report published in ESPNcricinfo, international West Indies men players have not been paid their match fee for the Ireland series at home and the subsequent tour of Sri Lanka in February-March.

Meanwhile, international women players of the country are owed match fees for the four matches they played in the Women's T20 World Cup held in February-March.

"Cricket West Indies is facing a tough time financially," CWI chief executive officer Johnny Grave told ESPNcricinfo. "Whilst all of our contracted players have received their salaries and allowances, and some players have received prize money and match fees, there is still money that is outstanding and we are trying to settle these player payments as a priority."

"We are two months behind making match fee payments," he added.

West Indies players' association secretary Wayne Lewis revealed players have been receiving their allowance salaries but not their match fees.

"The players who are contracted, their monthly salary (and allowances) are up-to-date," Lewis said. "The problem we are having is the retained players in the regional first-class competition have not been paid their match fees for the eight rounds that have been played so far."

Former Pakistan captain Ramiz Raja has also pointed out that it will become increasingly difficult for cricket board across the world to continue giving salaries to players and staff if matches are not held in the near future.

"Cricket fans are starved now and the coronavirus pandemic has brought life to a standstill but I don't think cricket boards can survive for long like this. They can't continue to pay out salaries and expenses without having cricket activities it would be disastrous for them," Raja said in a video uploaded on his Youtube channel.

"I would also urge the Pakistan Cricket Board to think on these lines and hold talks with other boards to see how cricket activities can be resumed even behind closed doors."

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Harbhajan Singh: When MS Dhoni is not playing cricket, he goes off radar

Veteran off-spinner Harbhajan Singh is convinced that MS Dhoni will not play for India again, adding to the guessing game over the former captain's future. Dhoni, 38, has not appeared for club or country since last year's 50-over World Cup and India's Coronavirus lockdown could threaten his chances of getting back into the national team.

IPL-caused hurdle

The Indian Premier League, the main platform before this year's scheduled T20 World Cup, is likely to be truncated or cancelled because of the pandemic. Harbhajan, who plays with Dhoni at IPL side Chennai Super Kings, said that international retirement was on the cards for Dhoni and that he was increasingly being asked about his teammate. "It's up to him. You need to know whether he wants to play for India again," Harbhajan said in an online forum. "As far as I know him, he won't want to wear India's blue jersey again. IPL he will play, but for India I think he had decided the [2019] World Cup was his last."

Meanwhile, India's limited-overs vice-captain Rohit Sharma said he has no idea what's happening with elusive former captain Dhoni, about whom he hasn't heard anything since India's semi-final exit from the World Cup last year. With the IPL postponed indefinitely, the chances of an improbable India comeback look even more bleak for Dhoni, who has not played cricket for months now.

During an instagram chat with Harbhajan, Rohit said that he has "no news about Dhoni". "We don't know what's happening with him. We haven't heard any news about him. The last match of the World Cup was in July. From there, till now we haven't heard anything, I have no idea," Rohit said during the live chat.

'MS is off the radar'

In his typical tongue-in-cheek manner, Rohit said that anyone who wants to know about Dhoni should personally contact him. "When MS Dhoni is not playing cricket, he goes off radar. He goes underground. Whoever wants to know, can directly go to him, you know he stays in Ranchi. You can't go now but after the lockdown, you take a car, bike or flight go to his place and ask him 'What are you going to do? Will you play or not?" he quipped.

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Umar Akmal gets three-year ban for not reporting corrupt approaches

Temperamental Pakistan batsman Umar Akmal was on Monday banned for three years by the PCB for failing to report corrupt approaches ahead of the country's premier T20 league this year. The Pakistan Cricket Board (PCB) had suspended the 29-year-old in February pending an anti-corruption investigation by its disciplinary panel.

The PCB charged him for two breaches of Article 2.4.4 of its Anti-Corruption Code in two unrelated incidents in February this year ahead of the Pakistan Super League -- a T20 event also featuring international cricketers. Akmal had decided against appealing against the charges last month. "Umar Akmal handed three-year ban from all cricket by Chairman of the Disciplinary Panel Mr Justice (retired) Fazal-e-Miran Chauhan," read a tweet from the official handle of the PCB's media department.

Akmal was suspended hours before his PSL team Quetta Gladiators was to take on Islamabad in the opening match of the 2020 edition. Reacting to the ban imposed on him, former Pakistan captain Ramiz Raja said time has come to criminalise match-fixing. "So Umar Akmal officially makes it to the list of idiots! Banned for 3 years. What a waste of a talent! It's high time that Pakistan moved towards passing a legislative law against match fixing. Behind bars is where such jack asses belong! Otherwise brave for more!!"

Raja tweeted. Akmal is the younger brother of former Pakistan wicketkeeper-batsman Kamran Akmal, who played 53 Tests, 58 T20s, and 157 ODIs for Pakistan, and cousin of current captain Babar Azam. Akmal, who last played for Pakistan in October, has featured in 16 Tests, 121 ODIs and 84 T20s, scoring 1003, 3194 and 1690 runs respectively. Akmal promised a lot after making a hundred in New Zealand on his Test debut, but failed to live up to the high expectations that came with some fine performances early in his career. Constant run-ins with the authorities also marred his stop-start career. Akmal had earlier escaped a PCB ban in February for allegedly making crude remarks to a trainer during a fitness test at the National Cricket Academy in Lahore.

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We might not be able to see any live sport for maybe 4-5 months: Sunil Gavaskar

The coronavirus outbreak has brought the world to a standstill and sporting events across the globe have either been cancelled or suspended. And former India skipper Sunil Gavaskar has said that with the way things are going, live sporting action may return only after another 4-5 months.

"The way things are going we might not be able to see any live sport for maybe 4-5 months. That's gonna be tough not just on the current players but also those who follow sport," Gavaskar told India Today.

"There are so many fans of different sports, for them to be able to only look at the old action after a time it gets boring, for nostalgia you can go back and see what happened earlier but actually you wanna see live sport be it on television or ground and for that not being able to be seen till September that's a worrying thing and I am pretty certain that the officials of all the sports are planning plan a, b, c to get over this period of uncertainty," Gavaskar explained.

While there have been talks of holding an IPL behind closed doors, Gavaskar said that it should be the last option.

"I think that's gonna be absolutely the last resort otherwise you know when you can't have absolutely anyone at the ground only then you should play without crowds.

"Every performer likes to perform in front of a crowd which appreciates the skills and temperament. Same in theatre. So i think it's not going to be easy on the performers as well. Players also want to do the high fives and hugs."

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Yuvraj Singh on Irrfan Khan's death: I know the journey and pain

On Wednesday when the world came together to mourn the death of veteran Bollywood actor Irrfan Khan who died with a colon infection, Yuvraj Singh, who had also made a return from cancer before finally calling curtains on his illustrious career in 2019, opened up about his struggle against the dreadful disease. Talking about it, Yuvraj Singh took to Twitter to say he 'knew the journey and the pain' well enough and paid tribute to acclaimed actor Irrfan Khan.

"I know the journey I know the pain and I know he fought till the end some are lucky to survive some don't I'm sure you are in a better place now Irfan Khan my condolence to your family. May his soul rip," Yuvraj, who starred in India 2007 T20 and 2011 ODI World Cup wins, said Yuvraj on Twitter.

Yuvraj Singh later posted a video of Irrfan Khan from one of the advertisements he appeared for which is quite inspirational and resonates at a time like this. Yuvraj also wrote, "This clip seems like a fitting tribute to the man who thought and inspired so many out there that success is not a hand down, and that if you worked hard enough you will shine against all odds coz talent and hardwork always prepares ordinary people for an extraordinary journey."

Irrfan, who had been admitted in Mumbai's Kokilaben Dhirubhai Ambani hospital with a colon infection, since Tuesday, passed away on Wednesday morning.

The actor has been ailing ever since he was diagnosed with neuroendocrine tumour a while back, and has been under medical attention for the same. He even went abroad for treatment.

Ever since the news of his untimely demise broke on social media, various people from all walks of life came together to pay homage to the late Irrfan.

Besides Yuvraj Singh, other sports stars such as Virat Kohli, Sachin Tendulkar, Saina Nehwal, Sunil Chhetri and Virender Sehwag also took to the micro-blogging site to pay homage to the 'Life of Pi' actor.

Irrfan Khan last appeared in the 2020 Bollywood film Angrezi Medium alongside Kareena Kapoor Khan, Deepak Dobriyal and Radhika Madan.

Inputs from IANS

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No Indian cricketer in Dale Steyn's best XI he played with or against

Kumar Sangakkara and Brett Lee were the only overseas players that made it to veteran South African pacer Dale Steyn's best XI of players he has faced or played with.'

Interestingly, the team included his "school bowling partner", "best friend" and his "club captain," Cricket South Arica said in its tweet.

Steyn picked his former South African skipper Graeme Smith and former Sri Lankan captain Sangakkara as openers. Jacques Kallis, widely rated as one of the greatest all- rounders of all time, slots in at no.4 while Jhonty Rhodes comes in at no.5.

Wicketkeeper and current South African limited overs skipper Quinton de Kock came in at no.6.

Australia's Lee, former South African spinner Paul Harris and Proteas fast bowling great Allan Donald made up the bowling department.

A notable omission from Steyn's XI is AB de Villiers, with whom he played most of his international matches with and was considered among the batsmen in the world throughout his international career. Also, there was no India in the XI picked up by Steyn.

Steyn's Best XI he played with or against: Kumar Sangakkara, Graeme Smith, Dave Hawken, Jacques Kallis, Jonty Rhodes, Quinton de Kock, Bret Bargiachi, Peter Lombard, Brett Lee, Paul Harris, Allan Donald.

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