Gold has indeed proven itself as an effective hedge against any downside risk. It has seen a sharp rise in the price rally since the first case of Novel Coronavirus was reported in November 2019.

In the beginning of March, gold prices fell marginally, however it is on the upswing and has retained its level above Rs 40,000 per 10 grams.

Graph: Gold's rising uptrend

Gold started to ascend last year when the US and China trade talks began and escalated in trade war, followed by similar trade wars of the US with other nations.

These events have proved to be favourable for the momentum of the price of Gold. It played its role of a crucial hedge and store of value when other asset classes had witnessed high volatility and posted marginal returns.

Some of the other factors that have supported gold are...

• The outbreak of COVID-19 with no evident containment yet
• Economic uncertainty and fears of a virus-led global recession
• Global GDP growth revised downwards and for across regions
• Easy monetary policy action (of reduction in interest rates and stimulus packages) and an accommodative stance adopted by the central banks across the world to support growth
• A crash in the oil markets due to lack of demand and excess supply with storage problems
• A record-high global debt-to-GDP of nearly US$ 255 trillion (over 322% of global GDP) - 40 percentage points higher than at the onset of 2008 global financial crisis according to the Institute of International Finance (IIF), as the world is fighting the COVID-19 pandemic
• The US Presidential elections later this year, in November 2020
• Increased stock market volatility
• The potential risk to the inflation trajectory.

[Read: Coronavirus Has No Antidote. Your Bad Investments Could Have.]

Besides, the lockdown brought upon due to COVID-19 pandemic is going to hurt the economy for a couple of quarters badly which will amplify the credit risk. The economic activity will slow grind to full capacity, prompting furloughs and pay cuts, and job losses across sectors, which will affect the credit line as the number of defaulters will rise because cash strapping will be seen.

Recognising the risk stemming from the bottom hit economy, where the growth projections by the IMF are almost 1.9% due to the CoVID-19, the NPAs of banks and NBFCs are expected to increase.

[Read: How the COVID-19 Extended Lockdown Has Made Investments in 'Banking Funds' Very Risky]

Until the COVID-19 pandemic is contained and economic uncertainty prevails, the spotlight will continue to be on gold owing to the financial uncertainty it brings along. Even the IMF Global Financial Stability report highlights an increase in the level of risk among multiple global metrics and, therefore, the importance of owning gold in one's portfolio.

Hence, in my view, in the current situation consider allocating some portion of your investment portfolio to gold and its equivalents. This year buying gold in a physical form from your preferred jeweller or gold merchant may not be possible amidst the COVID-19 extended lockdown. But you can always consider Gold Exchange Traded Funds, Gold Saving Funds, Sovereign Gold Bonds, and/or Digital Gold, which are smart and unconventional ways of investing in gold.

Recently the Government of India, in consultation with the Reserve Bank of India, decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from April 2020 to September 2020 as per the calendar specified below:

Each of the tranche is offered for a limited subscription period, having a maturity tenure of 8 years and a lock-in period of 5 years

With an initial investment amount of Rs 20,000, resident individuals, Hindu Undivided Families (HUFs), Trusts, Universities and Charitable Institutions can subscribe to SGBs. The application can be also made by the guardian on behalf of the minor. One can purchase units from the secondary market as well.

The issue price of the SGB will be Rs 50 per gram less than the nominal value when applied online and the payment against the application is made through digital mode.

On maturity, the Gold Bonds shall be redeemed in Indian Rupees and the redemption price shall be based on a simple average of the closing price of gold of 999 purity of previous 3 business days from the date of repayment, published by the India Bullion and Jewellers Association Limited.

In order to encourage passive but direct gold investment, as an alternative to purchasing physical gold, Modi led Government sanctioned a Sovereign Gold Bond Scheme in November 2015. Under this scheme, investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity. The Bond is issued by the Reserve Bank on behalf of Government of India.

With the Sovereign Gold Bond Scheme, the risks and costs of physical storage are eliminated. Plus, it is free from issues like the costs of making charges and purity, as in the case of gold in jewellery form. But these bonds are held in the books of the RBI, or in demat form to eliminate even the risk of loss of scrip, etc.

Sovereign Gold Bonds will generate market returns linked to the price of gold, so there may be a risk of capital loss if the market price of gold declines. Moreover, these bonds will provide interest income at the rate of 2.50 per cent (fixed rate) per annum on the amount of initial investment to investors and will be redeemable.

The minimum investment allowed is 1 gram, while the maximum buying limit is a subscription of 4 kg for individuals, 4 kg for Hindu Undivided Family (HUF), and 20 kg for trusts and similar entities notified by the government from time to time per fiscal year (April - March).

These bonds are sold through offices or branches of Nationalised Banks, Scheduled Private Banks, Scheduled Foreign Banks, designated Post Offices, Stock Holding Corporation of India Ltd. (SHCIL), and the authorised stock exchanges, either directly or through their agents.

Do note, that the interest on the bonds is taxed as per the provisions of the Income-tax Act, 1961. If you hold the SGB till maturity the capital gains tax on redemption of SGB is exempted. But if you sold the bond in the secondary market after three years, long term capital gains (LTCGs) tax is applicable and it will be taxed at 20 per cent with indexation. And if sold before three years, a short-term capital gains (STCGs) tax will be applicable according to the income tax slab.

What should the investors do?

Defeating the Coronavirus and surviving is everyone's core focus and having liquidity, those who have an adequate contingency fund are looking for investments.

Equity and debt markets are yet to see any signs of revival despite the stimulating relief measures provided to uplift the slowing of economy but investing in gold can prove to be worthy for your portfolio.

[Read: What Could Be the Potential Impact of a Lockdown on Your Mutual Fund Portfolio? Know Here...]

Even the bond prices were at all-time lows, which are inversely proportional to gold as well. In my view allocate at least 10-15% of your entire investment portfolio to gold and hold it with a long-term investment horizon.

Remember gold offers an effective hedge during global uncertainty and a shield against inflation. Most importantly in your portfolio, it serves as a diversifier.

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.

During the COVID-19 lockdown, individuals are losing patience -- moving freely and not following the necessary social distancing. This lack of civic sense and maturity on their part is weakening our fight against the deadly contagion pathogen.

The capital markets, as a result, also has witnessed intense volatility and bears are running lose. Certain sections of investors, however, have shown tremendous maturity during these challenging times.

At a time when Foreign Portfolio Investors (FIIs) have net sold or dumped Indian equities (owing to markets worldwide falling sharply and margin calls being hit), domestic fund managers are looking for value-buying opportunities in the carnage of the markets.

It is also heartening to see retail and High Net-worth Individuals (HNIs) buying into various equity-oriented mutual funds in a lump sum as well as the SIP (Systematic Investment Plan) mode. Monthly SIP inflows have touched a record high in March 2020 and the SIP folios, too, surged to 3.12 crore.

However, in debt-oriented schemes, investors seem to be pressing the panic button. The mutual fund industry recorded a net outflow of Rs 1.95 trillion in March 2020. Barring Overnight Funds and Gilt Funds, all other sub-categories of debt mutual funds have reported an outflow in March 2020.

Advance tax payment obligations, deterioration in asset quality, potential risk of defaults in the COVID-19 lockdown, and heightened volatility in the Indian debt market are some of the key reasons for outflows from debt-oriented mutual schemes.

[Read: Why Investors Pulled Out Money from Debt Mutual Fund Schemes in March]

The massive outflows were also seen from the Liquid Funds and Arbitrage Funds.

Table 1: Action in March 2020

Unprecedented redemptions in the Arbitrage Funds and Liquid Funds, as well as the net inflows recorded by the overnight funds, suggest that investors preferred safety over returns. As you know, liquidity is a key concern as the world continues to fight the COVID-19 pandemic.

Some arbitrage schemes such as Tata Arbitrage Fund and ICICI Prudential Equity-Arbitrage Fund had stopped taking in fresh subscriptions in the third week of March 2020 for the lack of arbitrage opportunities as markets faced broad-based selling.

But now markets are finding some sort of stability and bouncing back -- rallied over 20% from March lows - although the bears continue to run loose.

So, is it a time to consider arbitrage funds again?

Yes, I think so.

Arbitrage Funds aims to exploit the price differential in two different segments (spot and futures or cash and derivatives) of the equity market. They buy stocks in the spot market and sell in the future market simultaneously thereby making gains with the price differential (called the spread).

The differential usually is in sync with the prevailing interest rates in the economy; but depending on the market volatility, it could sometimes be higher as well. That being said, these are short-term opportunities that spring up due to lack of information to a set of market participants in one of the markets.

The capital market regulator's mutual fund categorisation and rationalisation mandates that an Arbitrage Fund must strictly follow the arbitrage strategy and invest at least 65% of its total assets in equity & equity related instruments.

Since the transactions are in either direction, the positions are completely hedged. And the remaining 35% of the total asset is deployed in debt and money market instruments.

In March 2020, when the stock futures started quoting at a discount to the spot prices in the cash market, it was a concern. But now that we have seen some sharp up-moves in the Indian equity markets as the government has done relatively well in containing the spread of the deadly virus (compared to other nations) and thanks to the prompt fiscal measures also have been taken -- both by the Ministry of Finance (the Rs 1.75 trillion package) and the Reserve Bank of India (by reducing policy rates sharply, keeping monetary policy stance 'accommodative as long as it is necessary', and ensuring enough liquidity in the system) -- in my view, it would be perceived positively by the markets in times to come and enough arbitrage opportunities would be available. It is possible that Arbitrage Funds may even perform a tad better vis-a-vis Liquid Funds.

Table 2: Report Card of Arbitrage Fund, Liquid Funds and Short Duration Funds

Over the last one year, the returns generated by Arbitrage Funds have been quite satisfactory. In fact, these funds have outperformed those clocked by Liquid Funds. The 3-month returns clocked by Arbitrage Funds have been almost at par with Liquid Funds.

Do note that an Arbitrage Fund carries low risk and the returns depend on the market conditions and fund manager's ability to reap rewards from arbitrage opportunities.

Short-Term Capital Gains (i.e. realised profits within a year) on arbitrage funds are taxed at 15%, while the Long-Term Capital Gains (i.e. gains made after staying invested for more than a year) are taxed at 10% for gains above Rs 1 lakh in a financial year.

To park money for the short-term for an investment time horizon up to 1-year, you may consider investing in an Arbitrage Fund.

And if you have an extreme short-term time horizon (of 3 to 6 months), consider a Liquid Fund with high-quality debt papers, which does not have high exposure to Commercial Papers (issued by private entities).

Alternatively, if you wish to park in a much safer category, you would be better off investing in an Overnight Funds.

Happy Investing!

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.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

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

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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.

COVID-19 has started showing its impact on the mutual fund industry. Few days ago I mentioned in my article, Debt mutual funds witnessed massive outflows of Rs 1.95 trillion in the month of March.

Though we could attribute most of that outflow to corporates redeeming funds to meet their quarter end obligations, high volatility and uncertainty as consequences of the pandemic could have also played a major hand in the redemption pressure for debt schemes.

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FII have been redeeming investments heavily in equity and debt segment ever since WHO declared COVID-19 a pandemic. In March, FIIs pulled out Rs 60,375 crore from the debt market.

High redemption and lack of buying interest has made debt mutual fund schemes vulnerable, especially those with higher exposure to low rated instruments.

This instability has claimed its first casualty in debt mutual funds...

Franklin Templeton Mutual Fund (FTMF) has decided to wind down six of its debt schemes with effect from April 23, 2020 due to COVID-19 related market dislocation. This is something that is unheard of in the mutual fund industry and has perplexed many investors and advisors.

The schemes that are wound up are:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

Together these schemes have an AUM of 30,854 crore as on March 31, 2020. Notably, these are the very schemes which in the past had to create segregated portfolio for its exposure to downgraded papers of Vodafone Idea and Yes Bank.

What led to the move?

According to a statement to investors from FTMF, "Despite several measures taken by the Reserve Bank of India (RBI), the liquidity in certain segments of the corporate bond markets has fallen-off dramatically and has remained low for an extended period. In this scenario, mutual funds are facing unprecedented liquidity challenges due to a variety of factors-rising redemption pressures due to heightened risk aversion, mark to market losses following a spike in yields and lower trading volumes in the bond markets. These factors have together caused a significant and worsening liquidity crunch for open-end mutual fund schemes investing in corporate credits across the credit rating spectrum."

The schemes had to resort to continuous borrowing to fund redemptions during this time, and were unable to repay the borrowings through sale of portfolio securities due to the prevailing market environment. The Investment manager did not believe it was prudent to continue funding redemptions through potentially increasing levels of borrowings.

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FTMF follows a high-risk high-return strategy for the above mentioned funds - Meaning a major part of its portfolio is exposed to lower rated securities (rating below AAA). The market disruption due to the virus outbreak has impacted these securities the most.

Under conditions of high redemption pressure, mutual funds sell their liquid assets to meet the demand, leaving the portfolio highly exposed to illiquid assets.

Thus, investors who choose to stay invested are at a disadvantage here.

Anticipating continued liquidity stress to the funds, the fund house thought winding up the scheme is the only viable option for the unitholders to minimize erosion of value.

Table: Details of schemes being wound up

What does it mean for investors of these schemes?

Investors of these schemes will not be able to purchase/redeem investment, switch to other schemes or do systematic transactions. In short their funds will be locked. The fund will not charge any management fees for the funds that are being wound up.

The fund house will rely on coupon payments, maturity value of underlying securities, and selling of securities at realisable value. While the fund house expects to realise most of the proceeds as per maturities, there may be some low rated securities that may even default on the due date. The fund house may create segregated portfolios for such securities and pay back as and when the money is realised.

It will be prudent to check the average maturity of portfolios of each fund and expect major repayment within that period.

What should investors in debt funds do?

Debt mutual fund Investors are not as confident, due to incidents of exposure to toxic papers in the past. This event could make them even more wary about their investment in debt schemes. As a consequence, there may be some panic selling in other debt schemes by investors worried about their funds getting locked.

However, instead of taking any hasty decisions, it would be a great idea to check your funds for the quality of assets it holds.

Choose a fund house that follows prudent investment process and stringent risk-management system. In these uncertain times, it would be wise sticking to liquid funds and overnight funds for the fixed-income part of your portfolio. Alternatively, if you prefer safety of capital, invest in Bank fixed deposits.

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

The way ahead...

While the fund house has done this to protect investors' interest, it has made the funds illiquid from the investors' point of view. Many investors may lose faith in debt funds for their short-term goals.

Going further, investors may have to consider liquidity risk due to AMC action, while investing in any high credit risk oriented debt funds.

It is time for the regulator to step up and clarify the illiquidity part for other debt schemes out there to investors. Moreover, it needs to provide a framework of strict guidelines to restrict fund managers from putting investors' hard-earned money at risk by exposing them to low rated securities for higher yield.

Meanwhile, AMFI has assured investors that a majority of the fixed income fund assets is invested in superior credit quality securities, and the schemes have appropriate liquidity to ensure normal operations. It further stated that the industry remains fully committed to the investors' interests and there is no need for them to panic and redeem investments.

Author: Divya Grover

This article first appeared on PersonalFN here.

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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.

Unnerving movements for debt mutual funds investors!

Just last week my colleague, Divya explained the fiasco at Franklin Templeton Mutual Fund, which took a decision to abruptly wind down six debt mutual fund schemes, namely:

• Franklin India Low Duration Fund
• Franklin India Dynamic Accrual Fund
• Franklin India Credit Risk Fund
• Franklin India Short Term Income Plan
• Franklin India Ultra Short Bond Fund
• Franklin India Income Opportunities Fund

In all, the above debt mutual fund schemes had an AUM of Rs 30,854 crore as of March 31, 2020.

The fund house cited, "severe market dislocation and illiquidity in the fixed income space" caused by the COVID-19 pandemic, as the reason behind the decision.

Investors in these schemes are now left in the lurch: they cannot sell (nor buy) these funds and will have to rely on the fund house to get back their hard-earned money. Investors will have to hold their investments in these schemes until liquidity is available to the mutual fund house by either selling securities in the fund's portfolio or receiving maturity proceeds.

Currently, a fact is, not just Franklin Templeton Mutual Fund, but debt mutual fund schemes of many other fund houses are have a remarkable exposure to stressed assets.

According to portfolios disclosed on March 31, 2020, mutual funds collectively held Rs 1.38 trillion of exposure to debt securities issued by Non-Banking Financial Companies (NBFCs). Approximately Rs 51,000 crore of the exposure in debt securities has a maturity profile of less than 3 months; and now, mutual funds fear that there will be defaults.

NBFCs and other corporate borrowers claim that they do not have enough liquidity to fulfil their obligations and have requested for additional time. Given that, rating downgrades from rating agencies look likely.

However, some companies are playing smart: they are approaching the Courts to prevent a rating downgrade, plus seeking a stay on sale of pledged shares. Of course, they are well within their right to approach the judicial authority or Courts and contest.

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But the capital market regulator, seems to be in no mood in offering them any leeway. On the contrary, the regulator is asking the mutual fund industry to act against the issuer of securities who are possibly carrying high credit risk; facing asset quality problems.

Delays in repayments would mean the creation of more side-pockets by mutual funds. And in my view, more the losses investors suffer, more frustrating it will be for mutual fund houses and their investors. Eventually retail and High Net-worth Individuals, particularly, will lose confidence and may not be keen to invest in debt funds.

If you are wondering what has gone wrong, here's everything you may like to know about liquidity, credit risk and the exposure of mutual funds to corporate debt in the present scenario.

If you remember, the capital market regulator had mandated large corporations to source at least 25% of their borrowings from the bond markets from the beginning of FY 2019. This move was expected to deepen Indian bond markets and reduces the stress on banks. Just a year later, the same move is proving fatal for companies that went to the bond markets to raise money.

Now that the COVID-19 lockdown has forced many business units to shut off temporarily or operate much below their optimal operational capacity with a skeletal staff, companies, including the large organisations that relied heavily on debt markets, are finding it difficult to honour maturity claims on Commercial Papers (CPs), Non-Convertible Debentures (NCDs), and Bonds.

They were hoping for an 'at-par treatment' with Banks when the Reserve Bank of India (RBI) offered a moratorium period to borrowers. But the RBI circular came to them as a shocker. The devil was in the details.

On March 27, 2020, the RBI issued a notification allowing a three-month moratorium on all outstanding term loans and working capital facilities on account of disruptions caused by the outbreak of coronavirus. This circular did not cover around 10 thousand NBFCs, who mainly depend on CPs, NCDs, and Bonds for their funding requirements.

As far as NBFCs are concerned, the RBI has already provided them with a liquidity facility through the banking channel. The RBI directed banks to utilise funds infused under Targeted Long Term Repo Operations (TLTRO) facility to invest in 'investment-grade' CPs, NCDs, and Bonds issued by NBFCs. Also, RBI mandated banks to allocate 50% of Rs 50,000 crore of liquidity introduced by way of TLTRO 2.0 to small and mid-size NBFCs and small finance banks.

But NBFCs seemed not too happy with just liquidity and many of them are now approaching courts to prevent rating downgrades. This is not a best practice for the industry, although fund houses may be well within their rights to contest.

Recently, Indiabulls Housing Finance was successful in receiving the interim order from Delhi High Court, throttling any coercive action against the housing finance company for its inability to repay its bondholders. The Delhi High Court will hear the case further on May 19, 2020.

This has added to the worries of mutual fund houses that now fear other NBFCs will follow the same path.

The capital market regulator, only recently (a few days ago) following the three moratorium by RBI (due to disruptions caused by COVID-19 pandemic) has relaxed the valuation norms for debt and money market instrument held by mutual funds vide a circular dated April 23, 2020, wherein it states as under:

• Based on assessment, if the valuation agencies appointed by AMFI are of the view that the delay in payment of interest/principal or extension of the maturity of a security by the issuer has arisen solely due to COVID-19 pandemic lockdown and/or in light of the moratorium permitted by Reserve Bank of India (RBI) (vide notification no. RBI/2019-20/186, dated March 27, 2020) creating temporary operational challenges in servicing debt, then valuation agencies may not consider the same as a default for the purpose of valuation of money market or debt securities held by Mutual Funds.
  
  However, in the scenario, as stated above, if there is any difference in the valuation of securities provided by two valuation agencies, the conservative valuation shall be accepted.

But then what is the point of coming up with these valuation norms as an afterthought, and not in close synchronisation when the RBI came with its notification a month ago?

The damage now is already done and companies are anyways approaching the Courts to prevent a rating downgrade.

Let's say shares of a company are pledged and to recover the proceeds -- if they cannot be sold due to a court order -- then such lending would be as good as unsecured lending.

Also, why should that not be construed as an instance of deviation from the stated fundamental attributes of a debt mutual fund scheme? After all, mutual fund investors invest in debt fund schemes taking into account a certain level of risk. Change in the risk profile of a scheme is a change in the fundamental attribute/s.

According to India Ratings, NBFCs having the asset base of Rs 500 crore to 5,000 crore, largely fall between "A" and "BBB" rating categories.

The mid-path could be a decision on payment or deferring the payment in consultation with all stakeholders, including debenture trustees. The industry will require a blanket resolution because a case-to-case resolution approach is cumbersome and may create more chaos.

Unless the RBI takes a clear stance on NBFCs and other financial institutions, mutual fund houses are likely to feel the heat of redemptions. Suppose, there's no further statement issued by the banking sector regulator; mutual funds will have to be prepared to handle large-scale defaults, which might look inevitable. After all, a majority of NBFCs' customers are retail borrowers and they enjoy a moratorium on the EMI payment for 3-months. This has been the trickiest part for NBFCs.

While COVID-19 outbreak has been the genuine reason for the potential defaults this time, asset-liability mismatches of NBFCs are well-known. Many NBFCs have gone overboard with cheap credit available during stable market conditions. Their credit underwriting has been questioned widely. The industry has also witnessed belly-up instances such as IL&FS and DHFL. Many mutual fund houses have burned their fingers badly in such defaults.

At the time of writing this piece, to ease the liquidity pressure on mutual funds, the RBI today decided to provide a special liquidity facility of Rs 50,000 crore for mutual funds. Under this facility, the RBI will conduct repo operations of 90 days tenor at the fixed repo rate. This will be on-tap and open-ended, and banks can submit their bids to avail funding on any day from Monday to Friday (excluding holidays). The scheme is available from today i.e., April 27, 2020, till May 11, 2020, or up to utilization of the allocated amount, whichever is earlier. The Reserve Bank will review the timeline and amount, depending upon market conditions.

The RBI has stated further that the liquidity support availed under the Special Liquidity Facility for Mutual Funds shall be used by banks exclusively for meeting the liquidity requirements of mutual funds by, 1) extending loans; and (2) undertaking outright purchase of and/or repos against the collateral of investment-grade corporate bonds, CPs, debentures and certificates of Deposit (CDs) held by mutual funds.

Having taken this measure, keep in mind that it does not make investing in debt mutual funds risk-free. Considering the prevailing investment environment, you should stay away from mutual fund schemes whose portfolio characteristic appears compromised. Also, avoid credit risk funds and corporate bond funds as they are likely to be more vulnerable amidst the financial crisis followed by COVID-19 pandemic.

As a thumb rule: Choose mutual fund schemes from fund houses that follow prudent judicious investment processes and stringent risk-management systems.

In these uncertain times, it would be wise sticking to liquid funds and overnight funds while considering debt funds.

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.

As with all financial matters, better be safe than sorry!

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.

Each fund recommended under FundSelect goes through our stringent process, where they are tested on both quantitative as well as qualitative parameters.

Every month, PersonalFN's FundSelect service will provide you with insightful and practical guidance on equity mutual funds and debt schemes - the ones to Buy, Hold, or Sell.

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

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

Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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.

Coronavirus or Covid-19 is showing no signs of receding. On the contrary, the number of cases is increasing by the day and the situation is rather depressing, as almost every region of the world and country is infected.

Sadly, there is no antidote or a vaccine conclusively developed to fight this deadly pathogen yet. And according to the World Health Organisation (WHO), Coronavirus will be with us for a long time. Most cases are still in the early phase of the epidemic and some countries which were affected early in the pandemic, are now seeing a resurgence in the number of cases, said the WHO Chief.

COVID-19 is truly playing havoc and may be followed with a financial crisis owing to the lockdowns imposed to contain the spread. The risk of global recession undeniably looms large. "This crisis is like no other", as what the International Monetary Fund's (IMF), Chief Economist, Ms Gita Gopinath wrote in the foreword to the World Economic Outlook, April 2020.

Graph 1: The virus has spread even to Indian equities

The graph above depicts the S&P BSE Sensex falling off the cliff and investors' wealth being eroded. Since the all-time high of the S&P BSE Sensex (42,273.87 points made on January 20, 2020), we have fallen more than -25% and overall sentiments seem downbeat and volatility has heightened.

On a year-to-date basis, Indian equity is down nearly -23.2% (as of April 27, 2020), while gold -- with uncertainty looming around the world -- has exhibited its sheen and demonstrated its trait of safe haven and an effective portfolio diversifier, clocking nearly +5.0% absolute return as of April 27, 2020.

Graph 2: YTD Performance of key asset classes

The graph above validates the importance of tactical asset allocation. The key lesson here is: all asset classes will not necessarily move in the same direction (up or down) always - over the long-term; some may even move in the opposite direction as what we have seen in the recent past (in the case of equities and gold).

As we (the world) continue to fighting COVID-19 and the aftereffects of it are conceivable, a further correction cannot be ruled out and the bottom is unknown. COVID-19 is likely to impact corporate earnings amidst a time when India is already facing slowdown blues. As people are quarantined, demand would remain muted and inflation risk will begin to surface, particularly in food prices.

So, although the current levels offer a decent value-buying opportunity, skewing your portfolio completely to equity as an asset class could endanger wealth creation. In such times you, as an investor, need to follow tactical asset allocation while you aim to generate wealth.

Tactical Asset Allocation with Quantum Multi Asset Fund of Funds

To invest sensibly in the current times, you need a Multi-Asset Fund that invests in mainly three asset classes: equity, debt and gold; and is truly balanced.

Among the plethora of Multi-Asset Funds, the Quantum Multi Asset Fund of Funds (QMAFOF) incepted on July 11, 2012, is truly balanced and holds well-diversified portfolio (across the three key asset classes: equity, debt and gold) at all the times -- unlikely many of its peers who swayed by the excess exuberance in equities, lost sense, and eroded investors wealth.

Table 1: Asset Allocation of Quantum Multi Asset Fund of Funds

The Scheme predominantly invests in the units of Equity, Debt / Money Markets and Gold schemes of Quantum Mutual Fund. Currently, the following schemes are used to gain exposure to a particular asset class:

For equity - Quantum Long Term Equity Value Fund, Quantum Nifty ETF

For debt & money market instruments - Quantum Liquid Fund, Quantum Dynamic Bond Fund

For Gold - Quantum Gold Fund (ETF)

The Units of any other Equity and Debt / Money Markets scheme launched by Quantum Mutual Fund from time to time would be eligible to be part of the above asset allocation components.

Although QMAFOF aims to invest predominantly only in the schemes launched by Quantum Mutual Fund, QMAFOF may seek to invest in the units of similar schemes of other mutual fund houses in case of any investment and regulatory constraints that arise that prevent the Scheme from increasing investments in the schemes of Quantum Mutual Fund.

The investment objective of Quantum Multi Asset Fund of Funds is, "to generate modest capital appreciation while trying to reduce risk (by diversifying risks across asset classes) from a combined portfolio of equity, debt/money markets and gold schemes of Quantum Mutual Fund"

QMAFOF benchmarks it against the Crisil Composite Bond Fund Index (40%) + S&P BSE Sensex Total Return Index (40%) + Domestic price of Gold (20%).

Being a fund of fund, this benchmark is most suitable to compare QMAFOF's performance. The unique combination clubs together the relatively risky assets with other stable asset classes in the portfolio.

Backed by an astute investment strategy, taking the relative valuations between asset classes into consideration such as Price-to-Earnings relative to historical averages; the relationship between earning yield to bond yield relative to historical averages; and macroeconomic factors prevailing globally and within India, the two fund managers of QMAFOF, namely Mr Chirag Mehta (MMS - Finance, M.Com, and CAIA with over 13 years' experience in research and investments) and Mr Nilesh Shetty (B.Com, MMS -Finance, and CFA with collectively 16 years in equity markets), have generated respectable returns for investors.

Table 2: Report card of QMAFOF versus some of its peers

Even as the equity market is panting for breath attributable to COVID-19 and volatility has intensified, QMAFOF due to its sensible asset allocation to equity, debt and gold through its underlying portfolio, has fared relatively better than some of the peers.

ICICI Prudential Multi-Asset Fund, Axis Triple Advantage Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, on the other hand, have all eroded investors wealth posting double-digit negative returns (see Table 2) in this downturn. Some of these schemes have fared well during upswings by keeping to the allocation to equities high, but on the downside, they have not managed the risk very sensibly. Investors, as a result, have experienced a roller-coaster ride in the journey of wealth creation.

A multi-asset fund, ideally, is expected to be truly balanced and sensibly allocate its assets whereby the downside risk of one asset class is compensated by the positive returns of the other asset classes.

Here are five good reasons to invest in Quantum Multi Asset Fund of Funds

1. You gain from a diversified portfolio across asset class which, in turn, reduces risk and optimizes returns.
2. You do not have to worry about portfolio rebalancing; the fund manager will astutely do it for you at regular intervals in the endeavour to achieve the set-out investment objective of the fund.
3. Portfolio tracking will be easy for you instead of tracking 10 different schemes
4. You will benefit from the lowest expense ratio in the category
5. And above all, Quantum Mutual Fund's strong research capabilities across various asset markets - equity, debt and gold, -- with robust investment processes & systems followed at the fund house.

Suitability of Quantum Multi Asset Fund of Funds

QMAFOF is a perfect fund for investors looking to tactically diversify the portfolio with a single fund across equity, debt and gold, plus leave the aspect of rebalancing to the discretion and expertise of the fund manager.

Furthermore, the fund is appropriate for investors seeking long term capital appreciation, who have a moderately high-risk appetite, and an investment time horizon of 3 to 5 years.

It is the best time to invest in the Quantum Multi Asset Fund of Funds. Valuation-wise, Indian equities look attractive and there appears to be a decent margin of safety (with a high return potential if the equity markets ascend).

Similarly, given the uncertainty surrounding the world, gold is expected to display its lustre. The economic uncertainty surrounded by the COVID-19, GDP growth rates being revised downwards, easy monetary policy action and stance followed by central bank across the world, geopolitical tensions, trade tension, and increased stock market volatility are likely to keep spotlights on gold.

Likewise, with credit risk getting amplified, it makes sense to have exposure to a pure Liquid Fund (that does not take exposure to Commercial Papers issued by private entities). Now that policy rates are already lowered by RBI to address growth concerns, it does not make much sense to take exposure to the longer end of the yield curve; it could prove less rewarding and risky (may encounter high volatility) in the foreseeable future. Deploying your hard-earned money is short-end of the maturity curve, would be far better.

By investing in Quantum Multi Asset Fund of Funds, you will be able to balance the risk better with a sensible investment strategy in place.

Just as an excess drug dosage cannot treat COVID-19, your investment portfolio, too, needs just a fair amount of diversification to clock optimal risk-adjusted returns in the journey of wealth creation.

Go ahead and consider investing in Quantum Multi Asset Fund of Funds.

Happy Investing!

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Author: Rounaq Neroy

This article first appeared on PersonalFN here.

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

Disclaimer:
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Australian tennis star Nick Kyrgios has apparently followed through on a promise to help people going hungry in the coronavirus shutdown, with social media images showing boxes of essential items prepped for delivery.

The controversial Kyrgios, infamously outspoken and known for his fiery on-court antics, said on Monday he would personally drop food on doorsteps after COVID-19 restrictions closed down entire industries, forcing huge numbers of people out of work across Australia. People queueing for welfare payments across the country have been likened to scenes from the Great Depression. "Please don't go to sleep with an empty stomach," Kyrgios, the world number 40, posted on Instagram Monday. "Don't be afraid or embarrassed to send me a private message. I will be more than happy to share whatever I have.

"Even just for a box of noodles, a loaf of bread or milk. I will drop it off at your doorstep, no questions asked!" he said in a post that attracted almost 100,000 likes. His mother, Norlaila Kyrgios, posted on Instagram over the weekend a photo of a table laden with food -- including bread, fruit and canned goods -- with the caption "dining room or food distribution centre".

Images of Canberra-based tennis star's Instagram stories shared on News Corp websites showed boxes of essentials captioned "deliveries in progress". It comes just months after the 24-year-old led a bushfire relief campaign that raised millions of dollars. Kyrgios gave Aus$200 (US$125) for every ace he hit across his home tennis summer, which ran until the end of the Australian Open. Other players and Australian Open organisers jumped on board the fundraising drive, also contributing large sums to people affected by the deadly fires.

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While sports stars across the globe are trying their hands at doing things they never got to do thanks to the Coronavirus lockdown, Bulgarian tennis star Grigor Dimitrov has revealed he will be taking up a course at the Harvard Business School soon.

In a column for the ATP Tour website, Grigor wrote: "I'm starting a course at Harvard Business School in a few weeks. It's something I've always wanted to do. I loved being in school, but haven't had the chance to experience it to the extent that I would have wanted to. Now I have the time to do something new and different."

Grigor, who is currently in California, USA, during quarantine, added: "I decided to stay on the west coast of the US once it was announced that Indian Wells was cancelled. Tennis players are creatures of habit, so I still make sure to structure my day. Go to bed on time, wake up early, be productive in the morning. I'm a crazy fanatic when it comes to laundry and have been doing that twice a day."

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With the world coming to a standstill due to the coronavirus outbreak, sporting events across the globe have either been cancelled or suspended and Indias star tennis player Sania Mirza cannot wait to go back to the tennis court.

Taking to Twitter, she wrote: "Waiting to play tennis again like." Earlier, Sania had made her displeasure known as there has been a rise in the number of 'cooking' posts that celebrities are putting out on social media as they stay indoors to fight the coronavirus outbreak. Sania feels posting such pictures in these times is unwanted.

Waiting to play tennis again like 🎾 ⏳
📸- @avigowariker pic.twitter.com/RUZaNRjHHf

— Sania Mirza (@MirzaSania) April 14, 2020

Taking to Twitter, she wrote: "Aren't we done with posting cooking videos and food pictures yet ? Just spare a thought - there are hundreds of thousands of ppl, specially in our side of the world starving to death and struggling to find food once a day if they are lucky."

After giving birth to her child in October 2018, Sania returned to the court in January this year. She clinched the women's doubles title at Hobart International, pairing up with Nadiia Kichenok, in her comeback competition.

Sania recently shared a photo of her son with a tennis racquet in hand, looking confused. "I am pretty sure he's thinking what the fuss is all about? #IzhaanMirzaMalik". Sania said in her Twitter post.

Sania last played at the Qatar Open in February. She has helped raise Rs 1.25 crore in one week which will help close to 1 lakh people in need during the 21-day lockdown to fight the coronavirus pandemic.

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Wimbledon champion Simona Halep, 28, is pretty shocked to see a global lockdown due to the Coronavirus pandemic. "Not even in my worst nightmares could I think that the globe can stop in such a way. For me, it's a shock because I'm pretty young and haven't gone through too many tough times. This is something that belongs to a fantastic realm. They have stopped travelling, flight in order to avoid affecting our health and well-being. Maybe it's the best interdiction," Simona, 28, told Romanian TV show Garantat 100%.

The former World No. 1, who is currently in isolation at her Bucharest home, is taking "maximum care" to avoid contracting the virus, fearing it could affect her lungs.

"In the beginning, I had this fear but then analysed the situation and figured out that if you protect yourself, everything will be OK but I'm afraid for those with health issues. I fear this virus because even if we are healthy and have good immunity–we may resist it–but it [the virus] will leave us with a serious lung affection. That's why I have decided to take maximum care of myself. That's why I have decided to take maximum care of myself," added Simona.

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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 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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Former US Davis Cup captain Patrick McEnroe, who was diagnosed with COVID-19 in March, said Saturday that he has now tested negative for the virus. "All right everyone, great news for me and my wife, Melissa, we both tested negative for COVID-19," McEnroe said in a video posted on Twitter. "We just got the tests back this morning.

The 53-year-old younger brother of seven-time Grand Slam singles champion John McEnroe, said he was tested at the same drive-up facility in suburban Westchester County, New York, where he obtained his initial test. He said the procedure was even more efficient, with more technicians testing six lines of patients instead of two. "I know we're talking a lot about testing on TV, we need more of them, we all know that. It was great to see this going so well for us and for New York state in general," said McEnroe, who quarantined at home during his illness. New York state has seen more than 12,000 deaths from COVID-19, although the state reported its lowest one-day death toll in two weeks on Saturday of 540. McEnroe said that as someone who had recovered from the virus he hoped to be able to contribute to the fight against the disease. "Now I'll try to go for the antibody test when that's available to give my blood, my plasma," he said.

Researchers are studying treatments in which coronavirus patients are given blood plasma from recovered individuals who have developed antibodies that can fight the disease. "Still thinking about everyone on the front lines," McEnroe concluded. "We've got to stay the course." McEnroe, who had first tweeted a video announcing his diagnosis from the basement of his home, was outdoors in the sunshine on Saturday. McEnroe won his only ATP singles title in 1995 at Sydney. He captured a Grand Slam doubles crown at the 1989 French Open alongside compatriot Jim Grabb. He was captain of the 2007 US Davis Cup squad that beat Russia 4-1 in the final at Portland, Oregon.

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Rafael Nadal on Monday expressed his frustration that tennis players remain unable to practise due to the coronavirus pandemic, while Roger Federer revealed he was happy with his recovery from knee surgery. The Spanish government has extended the country's state of alarm until May 9, with the entire population confined to their homes except a small number working in specific sectors, leaving Nadal perplexed as to why he can't train. "It's true I don't understand very well because we cannot play tennis when many people are going to work and even more so in our sport, where we keep at a large and safe distance and we play on opposite sides of the court," world number two Nadal said during an Instagram Live.

"But I understand that we are in a very critical situation, that the government is dealing with something unprecedented and I also understand that the last thing they think of is who can train and who cannot train. "I understand the situation and obviously there are many things that are not logical but you have to accept the rules." Nadal treated tennis fans to an Instagram Live in which he spoke to both Roger Federer and Andy Murray about their experiences during lockdown.

The men's and women's tours have been halted due to the virus, while Wimbledon was cancelled last month for the first time since World War II and Nadal's favourite Grand Slam the French Open was pushed back to September 20. "I am not playing tennis, I do not have a court at home and I miss it a little," Nadal said. "I am sticking to my physical routines.

From the gym of my academy they were able to bring me some machines when lockdown began so I try to work a little in the morning, a little in the afternoon. "It is very important to have both the head and the body focused and it is what I am trying to do at all times." Federer meanwhile gave an update on his right knee after the 20-time major winner decided to undergo surgery in February.

"I've been hitting a bit against a wall, (doing) rehab with the knee," Federer said. "It's OK, I had a really good first six weeks, then it was a bit slower, now it's getting better again but I have plenty of time. "There is no stress, no rush. If there is anything positive (about being in lockdown) that's the only thing really. I just want the knee to be good, it doesn't matter when I return."

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American tennis player Sloane Stephens has started a fundraiser for students and teachers in Haiti in association with her fiance Jozy Altidore's JA Foundation. "Can you imagine climbing 200 flights of stairs every day simply to access clean water, and education, and healthcare? The children and families in Marre-a-Coiffe, Haiti do just that. I'm taking the Hike for Haiti Challenge to raise awareness and funds to help provide students and teachers in Haiti vital support.

Jozy Altidore

From April 17 to May 17, we'll be hiking 200 flights of stairs in solidarity," Sloanne, 27, says on her fundraising page. Meanwhile, Jozy remarks: "In these times of adversity and social distancing, it's so important to find ways to virtually stay connected to others in our community, and to stay healthy and active at home. The JA Foundation will be matching funds donated to my team page up to $2,500, so your contribution will have double the impact."

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20-time Grand Slam champion Roger Federer came up with a radical proposal regarding the future of international tennis. The Swiss superstar suggested a merger between men's tennis body ATP and women's governing body WTA.

Federer believes this could be the right time for a merger between ATP and WTA for the betterment of the sport. The former World No.1 also explained that he isn't asking for competitions being merged but only the governing bodies.

"Am I the only one thinking that now is the time for men's and women's tennis to be united and come together as one?" Federer wrote on his Twitter handle.

"I am not talking about merging competition on the court, but merging the two governing bodies (ATP and WTA) that oversee the men's and women's professional tours."

"It's too confusing for the fans when there are different ranking systems, different logos, different websites, different tournament categories," he wrote further.

The entire sporting calender of the world is reeling due to Covid-19 pandemic and tennis is not different. The season has been put on hold with multiple tournaments being postponed or cancelled.

The second slam of the year, French Open, has been postponed from May to September while the Wimbledon was cancelled earlier this month in the wake of coronavirus crisis. Wimbledon had only been cancelled twice before, because of World War 1 and World War 2.

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Australia's World No. 1 tennis ace Ashleigh Barty, 24, likes to see the positives in life even in the most negative situations.

The French Open champ, currently at home Down Under due to the Coronavirus-caused lockdown, says there is no point in stressing over the uncontrollables.

"Everyone is in a unique situation, depending on what country they're from and all the governing bodies making different decisions. It's not a time to worry or stress about because it's something out of our control. There's always a silver lining, there's always something we could be grateful for, to be happy about. For me, it's being able to spend time with my family," Ashleigh told the WTA Tour website.

Meanwhile, Ashleigh has kept in touch with some of her friends on the Tour. "I spoke to Kiki [Bertens] and Jule [Goerges] and Simona [Halep] and Petra [Kvitova]. It's just to check it they and their families are fine. Firstly, it's always about health and looking after yourself and your family, and then sports is a bonus. This is a time where we can really appreciate the little things."

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Rafael Nadal said on Sunday that he was "very pessimistic" over a full resumption of the professional tennis circuit which has been halted by the coronavirus pandemic. "From my point of view, I'm very pessimistic that the circuit can resume a normal activity," said the world number two in a virtual chat origanized by the Spanish Federation of Tennis (RFET) involving the team that won last year's Davis Cup.

"In tennis, you need to travel every week, stay in hotels, go to different countries," Nadal said. "Even if it we play without an audience, to organise any event you need a lot of people involved, which cannot be ignored. At an international level I see a serious problem." Nadal said he hoped that restrictions can be relaxed gradually, but added that he was aware that the global health situation is serious. "We have had a very tough month and a half, with many irreparable losses as well as others that are less important that will still bring great suffering to society, I hope only for a few months, at the economic level," he said.

"Many people are going to lose their jobs." "These are sad moments when you see so many people dying," he said. Nadal had already told Spanish radio that he thought it would be "difficult" to stage one of the majors "in the short or medium term." Nadal has been working with his friend Pau Gasol, the Spanish basketball player, to raise funds in the fight the coronavirus. Along with other leading tennis players such as Roger Federer and Novak Djokovic, Nadal is one of the promoters of a plan to create a fund to help low-ranked players who are suffering financially.

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American tennis ace Serena Williams, a successful entrepreneur with fashion labels, handbags and jewelry lines to her name, believes her daughter Alexis Olympia, two, could grow up to be a good businesswoman.

Serena, currently in lockdown due to the COVID-19 pandemic, is busy working from home with her little girl by her side throughout—even during online meetings.

"I love being a full-time mom and not having the responsibilities to travel and play. I love to spend so much time with her but it's interesting. She's in every single call that I have, every single meeting. I feel like she's getting a little bit of it, so she's going to be a really good businesswoman when this is all over," the 23-time Grand Slam champion told USA's People magazine.

The former World No. 1 offered some valuable parental advice too. "You should schedule your day well, and always include your kids. They are the voice of the future.

It's like we're living a future history lesson and that's rare. My advice to parents is to always bring your kids in. You never know what they're going to pick up," added Serena, 38.

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Moldovan tennis player Dmitrii Baskov has been hailed as an Indian hero after joining a campaign to feed Ahmedabad's poor, who are struggling during the COVID-19 pandemic. The Davis Cup player arrived in India in January to visit a tennis academy before the advancing pandemic prevented him from returning home. Dmitrii, 25, once a hitting partner for Wimbledon champion Simona Halep, has since been helping out by packaging food for the needy in Ahmedabad.

He is among a team packing bread, rice and other dishes at the Ace Tennis Academy, destined for the city's slums and containment zones. "My friend Pramesh Modi mentioned this [idea of feeding the poor] and I said yes, sounds great and the next day we did it and it continued day after day," said Dmitrii. "He is an Indian hero and could be a role model for a number of Indians who have not come out of their houses to even help out in one way or the other," said Mitul Parikh, who packs food alongside Dmitrii.

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Spain's tennis ace Rafael Nadal, who is in self-isolation due to the COVID-19 pandemic, is trying to remain positive but is getting affected by the suffering of the people around him.

"I am a sentimental person, who is affected by things, and to see so many people suffering so much, so many people who have lost family their members without being able to even say goodbye...," the World No. 2 was quoted as saying by Tennis World USA.

The 19-time Grand Slam champion urged his fans to keep moving forward. "In the end, being able to give your brother or sister a hug will relieve some pain, and imagine that they have not been able to do it. You have to be positive and keep moving forward. There is no other choice. I am a super lucky guy." he added.

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Indian cricket team head coach Ravi Shastri on Wednesday urged people to beat coronavirus by staying at home and by maintaining social distancing. He termed the virus 'mother of all World Cups' and asked people to combat this disease together and win the World Cup of humanity.

Taking to Twitter, Shastri shared a video post where he cited cricket examples to aware people about the seriousness of the COVID-19 pandemic. "As I would know, sports teaches you life lessons that can be applied to just about anything you want to pursue in rest of your life. Today the COVID-19 has put us in a situation where we got our backs to the wall. To combat this coronavirus is like chasing a World Cup where you give your everything in trying to win it. What's staring you at the face is no ordinary World Cup. This is the mother of all World Cups where not just eleven are playing but 1.4 billion are in the playing arena and competing. Guys we can win this. For that, we have to observe the basics. You have got your Prime Minister leading from the front ahead of the curve like other countries have farmed out," Shastri said.

Stay Home, Stay Safe! 🙏#Lockdown2 #COVID19 #StayHome #IndiaFightsCorona pic.twitter.com/JQTZVib2in

— Ravi Shastri (@RaviShastriOfc) April 15, 2020

"You have to obey the orders that come from the top: be it centre, state or the frontline workers who are risking their lives. Two orders that stand out: staying home and maintaining social distancing. It is not easy but to win the game you got to go through the pain to break the chain and see the gain. Come on, guys! let's do it together. Let us get out there in a bruit force of 1.4 billion and beat this corona and get your hands on the World Cup of humanity. Let's do it," he added.

With 1,076 new COVID-19 cases reported in the last 24 hours, India's tally of coronavirus cases has risen to 11,439, said the Union Ministry of Health and Family Welfare on Wednesday.

Out of the total tally, 9,756 cases are active while 1,306 patients have been cured/discharged and migrated. With 38 new deaths reported in the last 24 hours, the death toll rises to 377.

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India women’s cricketer Smriti Mandhana posted this picture to her two million Instagram followers, enjoying lunch with her parents during the Coronavirus lockdown. “Nothing compares to Maa ke hath ka khana and Papa ki kahaniya sunna [food cooked by mom and listening to dad’s stories],” she captioned the post that went on to receive nearly four lakh ‘likes’ within a few hours.

See the full post below.

 

 

 

View this post on Instagram

Nothing compares to Maa ke hath ka khana and Papa ki kahaniya sunna😇🥰

A post shared by Smriti Mandhana (@smriti_mandhana) onApr 14, 2020 at 9:48am PDT

Smriti Mandhana is part of the Indian women's cricket team and is one of the most instrumental batswomen in the team. Smriti Mandhana won the  International Woman Cricketer of the Year in 2019. In the same year, Mandhana also became the third-fastest women's player to score 2,000 runs in ODIs. At age 22, she was also the youngest women's T20I captain for India eves. She has 4 centuries and 17 fifties in women's ODIs.

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Cricketer-turned-politician Gautam Gambhir has called upon all countrymen to stand united and adhere to the guidelines of the government amid the ongoing lockdown in place in order to win the battle against coronavirus pandemic. "We can only win this war if we stand together and the most important thing is to follow the guidelines," Gambhir said while speaking on Star Sports 'Cricket Connected' show. "If we have been asked to stay at home and not leave our house at any circumstance then it's really important for us to follow this, as it is for the betterment of our nation," he added while requesting people to stay indoors and maintain social distancing.

"Since we were talking about donations, according to me there's no limit, if a person gives one rupee with the right emotion, it's a very big contribution," the former Indian opener further said while calling on people to make a contribution in fight towards COVID-19 which has so far claimed more than 400 lives in the country. Gambhir, who is also a BJP MP from East Delhi, has donated Rs one crore to the Delhi Government for procurement of medical equipment and treatment of COVID-19 patients in the national capital.

Besides that, he has pledged to donate his two years' salary towards Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) and has already released Rs one crore out of his MP Local Area Development Scheme (MPLADS) Fund towards the relief efforts amid the coronavirus outbreak. Speaking about how he spends time at home during the lockdown, the 38-year-old said: "I have been given a responsibility during this lockdown to maintain the plants and the lawn in our garden."

"But the interesting part is that I've been watering the lawn for three days, but there's still no grass growing. Just as (VVS) Laxman does not listen to me, so also does this grass not listen to me," he added.

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The International Cricket Council (ICC) is not in a hurry to take a decision whether the T20 World Cup should be postponed in the wake of COVID-19 or staged as scheduled, saying it is "exploring all options" as part of its comprehensive contingency planning for all its events. The T20 World Cup is scheduled to be held in Australia from October 18 to November 15 but with all sporting events either postponed or cancelled due to the global health crisis, the fate of the tournament remains uncertain.

With Australia sealing its borders and putting restrictions on travel to contain the dreaded disease, there have been speculations that the T20 World Cup could be postponed to next year or held inside closed doors. "We are continuing with our planning for ICC events as they are, but given the rapidly evolving situation as a prudent and responsible measure we are also undertaking a comprehensive contingency planning exercise," an ICC spokesperson was quoted as saying by SkySport. "This includes exploring all options available to us based on a range of scenarios connected to the pandemic."

The T20 World Cup is still six months away and ICC said it will take a decision after consulting all stakeholders, including the Australian government. "We will continue to take advice from experts and authorities, including the Australian government and will take decisions at the appropriate time," the spokesperson said. "We will utilise all the data available to us to ensure we can take well-informed, responsible decisions that are in the best interests of our sport."

Former captain Allan Border and star all-rounder Glenn Maxwell have already given a thumbs down to the prospect of the tournament happening without spectators, while former batsman Simon Katich and wicket-keeper batsman Alex Carey feel delaying the event remains an option.

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Bangladesh wicketkeeper-batsman Mushfiqur Rahim will be putting his most cherished bat on auction in order to raise funds for the relief efforts put in place in the country to fight the coronavirus pandemic.

Mushfiqur will be putting the bat -- with which he scored his first double hundred against Sri Lanka at Galle in 2013 -- for online sale and has urged people to contribute to the cause so that maximum funds can be generated for the poor.

"I am putting up the bat with which I made a double hundred for auction," Mushfiqur told the Dhaka-based Bengali daily 'Prothom Alo'.

"It will be put up online, so let's see how we can go about it. I urge everyone with the ability to push up the price of the bat since the proceeds will be spent entirely for the poor people," he added.

Last week, Shakib-al-Hasan had called upon the players to auction their belongings like jerseys and cricket equipments.

"We can do anything like that. It can also be a bat with any of our autographs. We can auction these things through Facebook or the foundation," Shakib had said on Facebook Live.

More than 2000 confirmed cases of coronavirus have been reported and many people have also lost their lives till now in Bangladesh.

England batsman Jos Butter had raised more than 65,000 pounds for two London-based hospitals by auctioning the shirt which he wore in the 2019 World Cup final.

Legendary Pakistan bowler Wasim Akram also auctioned a bat and ball signed by him to raise funds for a charity as the entire world fights against COVDI-19 pandemic which has so far claimed more than 1.6 lakh lives.

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Flamboyant India batsman KL Rahul is auctioning the bat he used during the World Cup last year and other memorabilia to raise funds for vulnerable children.

In a video message posted on Twitter on his birthday, Rahul said all proceeds from the auction will go to the Aware Foundation, that works to provide dispossessed, disadvantaged and vulnerable children in India the right to education. "I have decided to donate my cricket pads, my gloves, helmets and some of my jerseys to our collaboration partner Bharat Army. They are going to auction these things out and the funds will go towards the Aware Foundation," Rahul said. "It's a foundation that look towards helping children. It is very special and I couldn't pick a better day to do this."

The items up for auction, which started on Monday, includes Rahul's signed 2019 World Cup bat, Test, ODI and T20 jersey along with his batting gloves, helmet and pads. "Go on check out the auction and show some love for me and the children and let's stay strong together during this difficult time and all of us will come out of this stronger," Rahul said. The coronavirus outbreak has infected over 24 lakh people and caused more than one lakh deaths worldwide. In India, more than 17,000 people have been infected with 550 deaths reported.

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With the entire world currently fighting the coronavirus pandemic, athletes across sports are utilising time to make the most out of the forced break. Delhi Capitals opener Prithvi Shaw recently revealed what he has been spending time during the nationwide lockdown. "I've been working out a bit indoors and shadow practicing to maintain my fitness levels. I've also been helping my father in the kitchen. I can cook eggs quite well and I'm trying to learn a few new things. I've been playing some PUBG too," Shaw said on Tuesday during an Instagram LIVE session on the franchise's official handle.

Talking about the importance of mental health in such unprecedented times, Shaw said: "Mental strength is very important at this time, given that we are all restricted indoors. A lot of us don't have patience for things in life, so now is a great time to work on it." "Everyone should find something to do that they like, and work towards perfecting that. That process in itself will help one grow calmer and become more patient." Shaw also spoke about the 2019 season of the Indian Premier League (IPL) where Delhi Capitals finished third, having made it to the play-offs after a seven-year gap.

"On and off the field, our team was like a family," he said. "We had Ricky (Ponting) Sir, Dada (Sourav Ganguly), (Mohammad) Kaif Sir to help us with anything – the environment was perfect." When asked to recall a funny anecdote from the season gone by, Shaw spoke about how Ponting had once scared him by ordering him to take ten rounds of the Feroz Shah Kotla as he had reported slightly late for a pre-training team meeting.

"I was looking for some new spikes in the dressing room that day and reached the ground a bit late," he said. "I completed the entire training -- fielding and batting sessions -- and had no energy left to run ten rounds of the ground. Luckily, I didn't have to. Turns out Ricky Sir just wanted to scare me off for my late attendance that day!" The 20-year-old, who spent a part of 2019 serving a doping ban, reflected on his time away from the game and the lessons learnt.

"It was a mistake. And the period away from cricket was a torture," he said. "Doubts and questions arise, but I kept the faith and belief. I spent some time in London where I was working on my fitness, as I wasn't allowed to bat anywhere.

"When the ban got over, and I returned to domestic cricket, I was hungrier than before. I picked up my bat and realised I hadn't lost my touch at all. If anything, that time off made me a more determined person," he added.

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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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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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The COVID-19 pandemic has not just made cricket icon Sachin Tendulkar realise the importance of freedom to do simple things in life. It has also left the record-breaking Indian batsman a bit worried about the impact it will have on his beloved sport.

In an interaction with mid-day over the phone on the eve of his 47th birthday on Thursday, the former India captain said he is expecting the sport to change where the dynamics of shining the ball is concerned. He also felt it will be strange to see matches being played before empty stands when action resumes.

Edited excerpts from the interview:

How do you see cricket when normalcy comes around?

Time will tell. You can't put saliva on the ball so how are you going to shine the ball as much? Those landing marks leave dry patches on the ball. How do you cover that all the time with sweat instead of saliva and still maintain the shine? If you are not going to shine the ball frequently then how will the ball swing? All these elements will come into play, which nobody is familiar with. So the game could change.

To get the ball to reverse [swing], you keep one side dry and then you keep shining the other side. So, how shiny would that other side be will also determine how much the ball is going to swing or reverse. As you keep shining one side, the other side gets automatically lighter.

Cricket boards are contemplating hosting matches in front of empty stands…

It's going to be strange because you are used to having crowds around and that noise, that buzz inside the stadium. When you hit a boundary or a six or pick a wicket, the crowd also becomes a big part of your celebration. You draw energy from the crowd when you hit a boundary. So, all that won't be there and it's going to be strange. It's like watching Wimbledon with Roger Federer and Rafael Nadal playing but there are no spectators. It's going to look strange and feel different for sure.

Would you recommend closed-door matches?

This is the government's call, especially the health ministry. We have to follow their guidelines. Whatever they feel is safe should be done. I've tried to do the same things with whatever directives have been given. We have also tried to spread the message on our social media platforms. There are a lot of rumours floating around. It's important to convey the right message to everyone and show them the complete picture because rumours can sometimes disrupt your thought process and make you think otherwise.

How would you have handled this situation in your playing days and what's your advice to youngsters who are eager to be on the park again?

I would continue my training and I'm sure all players are continuing their physical preparations. But sometimes, it's good to give yourself a break after a reasonable long season. So it's good to get that break for a while and then come back to action. There are two elements—batting and bowling. One has to prepare yourself by practising various drills. The other would be to practise mentally by doing visualisation and mental drills. Both these elements coming together from a good combination for preparation. I fully understand that nothing beats being on the field, hitting the ball again. If someone who is thinking otherwise—that this is a period where I can't do much except sit back and relax—those guys will be caught napping.

What has the lockdown made you realise?

The freedom we have to do simple things in life. Like, the last time I met any outsider—that includes my friends—was March 15. So, it's a long time. The most important thing is freedom, the freedom to be what you like and go out, do certain things which you are not able to do now. These are different kind of circumstances, completely unprecedented. I cannot instruct elderly people, so my friendly message to them would be: You wished well for me for such a long time and prayed that I don't get out and stay at the crease. So, my wish for you is, not to get out too—from your homes. That way, you will be safe and secure. So, follow the government's guidelines and let's stay safe.

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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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Veteran batsman David Warner believes Australia's upcoming limited-overs tour of England will be scrapped because of the coronavirus pandemic. The Australians were scheduled to play three one-dayers and three Twenty20 matches against England in July. But last week the England and Wales Cricket Board delayed the start of their season until July 1 at the earliest and players may need some warm-up cricket before returning to the international arena.

There has been speculation the tour could be delayed until September, but Warner was doubtful if it would go ahead. "At the moment it's highly unlikely we're going to go over there given what's happened in England," Warner told cricket.com.au. He said the fact British Prime Minister Boris Johnson had been hospitalised with COVID-19 showed the gravity of the problem in the host nation.

"He's back up on his feet now and that's fantastic news, but there's a lot more to this than just sport being played," Warner added. Australia have already cancelled a two-Test tour of Bangladesh in June, and a limited-overs home series against Zimbabwe is also in doubt. Australia are due to host the Twenty20 World Cup in October-November, for which the International Cricket Council has said it is "exploring all options".

Cricket Australia is particularly keen to go ahead with a Test series against India due to be played after the T20 tournament, warning this month it could lose hundreds of millions of dollars if it were scrapped.

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Star Australian opener David Warner does not see the need to abolish the use of saliva to shine the ball when cricket resumes in the post COVID-19 world as he feels it is no more or no less risky than sharing the change room with fellow players. There is speculation that use of saliva to shine the ball will be stopped to cut down the risk of the highly contagious infection when international cricket restarts. "You're sharing change rooms and you're sharing everything else, I don't see why you have to change that," Warner told 'cricket.com.au'.

"It's been going around for hundreds of years now, I can't recall anyone that's got sick by doing that. If you're going to contract a bug, I don't think it'd necessarily be just from that. "I'm not too sure but it's not my place to comment on whether or not we should or shouldn't (use saliva to shine the ball). It's up to the ICC and the governing bodies to decide."

However, former fast bowler Shaun Tait believes it is important to be open about changes and the use of saliva could become a thing of the past. "I've never been a huge fan of the saliva on the ball, it's not very nice really," Tait said. "We have to open to some possible changes there." The subject of legalisation of ball tampering has led to divided opinions with West Indies pace great Michael Holding saying it is a bit "self contradictory", while South Africa legend Allan Donald being open to the idea.

Among others, batting great Sachin Tendulkar said players will be wary of using saliva to shine the ball, while Pakistan legend Waqar Younis, former India pacer Ashish Nehra and spinner Harbhajan Singh have supported the use of spit.

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New Zealand batsman Henry Nicholls has donated his ICC 2019 World Cup shirt to UNICEF to help raise funds for the battle against COVID-19. The 28-year-old has offered his half-sleeve shirt signed by his teammates to facilitate meals for Kiwi families. The official Twitter handle of UNICEF New Zealand wrote, "NZ Cricketer @HenryNicholls27 has offered up one of his prized 2019 Cricket World Cup jerseys, signed by the whole team! One lucky donor who has supported our #FoodForKiwiFamilies appeal will receive it. You've got to be in it, to win it so donate now!"

Anyone who donates by Monday, irrespective of the amount, will enter a draw and one lucky person will get the shirt. The Blackcaps played their second consecutive final but failed to bring the trophy home as they lost to England on the basis of the boundary-countback rule. As a result, the Three Lions went on to lift their first-ever 50-over title.

The normal 50-over match action and super over had ended as a tie, and in the end, England was announced as the winners after scoring more boundaries in the match. As all the sporting activities including cricket have been suspended due to the global surge of the coronavirus pandemic, the left-handed batsman was last seen in action against Australia in an ODI on March 13.

He has played 33 Tests, 49 ODIs, and 5 shortest format games for Kiwis. The player has scored 3,095 runs across all formats including six centuries.

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When Vikrant Keni, who led the Indian team to its maiden Physical Disability T20 World Series in England last year, and teammate Gurudas Raut were invited by BCCI president Sourav Ganguly & Co to the Cricket Centre on March 4 to receive the token cheque of R65 lakh as prize money for their flawless performance, their achhe din may have begun to look like coming true.

A few weeks later, India went into lockdown to fight against the dreadful Coronavirus and the 18-player team have not received their share of R3 lakh each. The Indian cricket board has yet to release the payment but say the players will receive their dues soon.

The Supreme Court-appointed Committee of Administrators (CoA) had approved the prize money for the Indian physically challenged team before their term ended last October. With most of the players from the T20 World Series-winning squad living a hand-to-mouth existence, they feel the BCCI prize money would make a huge difference to them especially in these COVID-19 pandemic-caused testing times.

All-rounder Ramesh Naidu, 24, whose father M Ramu earns R15,000 from driving cars at Vijaya Medical Centre in Visakhapatnam, is finding it difficult to cope with the lockdown. "My family is completely dependent on my father's income. It's difficult to manage during this period," said Naidu, who is in his last year of M Tech (Master of Technology) in Electrical Engineering at IIT Chennai. Naidu had taken an education loan of Rs 4.5 lakh.

Wasim Khan, who hails from the turbulent Kashmir region, was banking on the prize money to cope with the lockdown.

"With no job, it's quite tough to exist. My elder brother is a lawyer but he is without any work at the moment. We have some groceries at home but I don't know how long they will last. We have got no help from anyone. It will be a big relief if BCCI releases our prize money soon," said Wasim, who had scored a match-winning 40-ball 79 in the semi-final against Pakistan.

Hard-hitting batsman Sudanese Mahendaran, 29, who changed the complexion of the game in the final against England with his 11-ball 33, said the lockdown has rendered his family income-less. "There has been no income for the last month as my father has not been able to ride his auto rickshaw due to the lockdown. My close friends are helping us out," said the Tamil Nadu lad.

Bengal-based wicketkeeper batsman Debabrata Roy, 31, is confident BCCI president Ganguly will rescue the players. "I was earning R8,000 till last month as a salesman at a cloth store. I am sure Dada [Ganguly] will look into our problems," said Roy.

Left-arm spinner Anish Rajan, who was India's highest wicket-taker (11) in the tournament, has had his share of suffering in the lockdown.

Skipper Vikrant Keni (right) and teammate Gurudas Raut with the R65 lakh cheque they received from the BCCI in March. Pic/ Suresh Karkera

A mechanical engineer by profession, Rajan quit his job in 2015 to pursue a career in cricket.

"My dream was to play for India. I play as a professional for Tripunithura Cricket Club in Kochi and I also officiate in matches as umpire or scorer. However, due to the lockdown, there has been no source of income," he said.

Skipper Keni, who is lucky to have a steady source of income, sympathised with the financial condition of some of his teammates. "Most of the players from my team are struggling as they have no jobs. I think the BCCI prize money is taking time due to the lockdown," said Palghar-based Keni.

BCCI's General Manager Cricket Operations, Syed Saba Karim told mid-day on Friday that the prize money will be remitted in a couple of days. "It has been approved and in a day or two, it will be processed. The amount will be deposited in their [players'] bank account. It has been cleared from our side," Karim said.

I will talk to BCCI: AICAPC prez Ghavri

AICAPC prez Karsan Ghavri

The president of the All India Cricket Association for Physically Challenged (AICAPC), Karsan Ghavri said he would talk to the BCCI officials to release the prize money of the Physical Disability T20 World Series-winning team once the lockdown ends. "It [the prize money] was supposed to go into the players' account, but it has not happened. This is not the right time to talk. Let everything settle down. We will definitely speak to the authorities," the former India all-rounder told mid-day.
Ghavri is also hopeful of sorting out the employment problems of the physically challenged cricketers. "We are definitely trying to help them out. In fact, Nitin Gadkari, a senior minister in the central government, is helping us a lot in this regard," he added.

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BCCI president Sourav Ganguly is deeply saddened and intimidated by the devastation caused because of the COVID-19 pandemic and has equated the unprecedented crisis to playing a Test match on a dangerous wicket. The decorated former player opened up on life under lockdown due to the novel coronavirus pandemic that has claimed over 2.40 lakh lives across the world while infecting more than 34 lakh people. "This situation is a Test match on a very dangerous wicket. The ball is seaming and spinning as well - the batsman has very little margin of error," Ganguly said while speaking on '100 Hours 100 Stars', an initiative started by Fever Network.

"So, the batsman has to score runs and keep his wicket safe with this little margin of error, and win this Test match," he added. A winner of innumerable fierce battles during his playing days when there was no dearth of fearsome fast bowlers and quality spinners, Ganguly was tempted to draw a parallel between the tough moments in the sport and the health crisis. "This is very difficult, but we hope that we will win this match together," he added. Ganguly expressed his sadness at the number of lives lost in the pandemic and the irreparable damage that it has caused. "I am really upset seeing the current situation, because so many people are suffering outside. We are still struggling to understand how to stop this pandemic," he said. "This atmosphere all over the world has really bothered me. We don't know how, when and where it came from - we all were unprepared for this," he added. Not just upset, Ganguly conceded he cannot help feeling a big scared of what's unfolding because of the disease. "People are being affected by this so much. There have been so many deaths. This situation upsets me, and I also feel scared," he said.

"People come to my house to deliver groceries, food, so I feel a little scared as well. So it's a mixed feeling. I just want this to end as quickly as possible," he added, He said cricket has taught him to face tough situations in life and the importance of staying alert at all times. Asked how he keeps himself positive, the former captain said: "Cricket has taught me a lot. I faced real life, high-pressure situations. You have to make runs and there is just one ball left. "If you make one wrong move, one wrong footwork, you will not get another chance. These kind of situations make you alert and aware about real life situations," he said. The BCCI chief, though, also added that he is getting to spend a lot of time with his family after a long time. "It's been a month into the lockdown. I didn't mind it earlier. Earlier, I wouldn't get time at home like this. My lifestyle involved travelling for work everyday. "For the past 30-32 days, I have been at home with my family, spending time with my wife, daughter, my mother and my brother. "I have got a time like this after long, so I am enjoying myself," he said.

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With no cricket in sight in the near future due to the COVID-19 pandemic, the sport's groundsmen are the worst affected. Touched by their plight, India women's all-rounder Anuja Patil has came forward to help the groundsmen in her hometown, Kolhapur. Patil has distributed groceries worth approximately Rs 40,000 to groundsmen besides providing financial aid to some in dire need.

Supporting Patil in this cause are former Maharashtra pacer Ramesh Kadam, her Maharashtra teammate Rutuja Deshmukh, U-23 batsman Ranjit Nikam and trainer Swapnil Kadam. The group visited Kolhapur's Shaupuri Gymkhana, Shivaji Maharaj Stadium and Shau Stadium and provided aid to 11 groundsmen.

'Challenging times'

"This is a challenging time for all. And having undergone some of these tough situations personally, I understand how challenging it is to manage things. I feel it's my duty to help the needy," Patil, whose father Arun used to be an auto rickshaw driver till a few years ago, told mid-day.

"This crisis may last for another couple of months, so I plan to meet these groundsmen again to help out," added Patil.

Kadam said: "So far, we have distributed 11 grocery kits comprising rice (25kg), wheat (25kg), sugar (10kg), oil (5litre), dal (5kg), tea powder, soap etc."

India A's Anuja Patil during the first ODI against Australia A at Brisbane last December. pic/Getty Images

Having represented India in 50 T20Is, Patil can't wait to put on her India jersey and get on the cricket field again. But before that, she is keen to use this lockdown phase to upgrade her skills. "I'm utilising this time to work on my game. I'm following the schedule that has been given to us by our coach WV Raman sir and also speaking to my local coaches—Suraj Jadhav and Anil Sangawkar. I spend two hours training every morning and evening. I do my batting drills by hanging the ball on a rod and also bowl a bit in my parking lot. I'm also working on improving my visualisation of the ball with certain drills," said Patil, who has claimed 48 T20I wickets with her off-spinners.

Mental preparation

Patil made a fine impression in the fifth and final T20I on November 20 last year at the Providence Stadium in West Indies, returning with figures of 3-1-3-2 to help India win by 61 runs. "I want to ensure that I am mentally prepared because whenever the situation is normal again, cricket will begin and I should be ready to perform," Patil concluded.

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Mumbai Cricket Association (MCA) have completed the formalities in transferring Rs 50 lakh to the Maharashtra Chief Minister's COVID-19 Relief Fund, according to an MCA official on Thursday.

Though the decision was taken on March 26, the amount was not remitted as there was no direction whether to make the donation to the CM's Relief Fund or the specially-created fund for the COVID-19 pandemic.

Maharashtra is one of the worst-hit states in India with over 14,000 positive cases reported.

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The Treasury Department has ordered President Donald Trump's name to be printed on all stimulus checks being sent to millions of Americans struggling financially because of coronavirus. The unprecedented decision announced by the Treasury Department on late Monday, states that when recipients open the USD 1,200 paper checks, which the Internal Revenue Service (IRS) is scheduled to begin sending to 70 million Americans in coming days, "President Donald J. Trump" will appear on the left side of the payment, The Washington Post reported.

It will be the first time when a president's name appears on an IRS disbursement, whether a routine refund or one of the handful of checks the government has issued to taxpayers in recent decades either to stimulate a down economy or share the dividends of a strong one. The checks are the centerpiece of the US government's USD 2 trillion stimulus economic relief package to stave of the effects of the coronavirus pandemic. The package was passed by a bipartisan vote in Congress and signed by the President.

The Post reported that the decision is another sign of the president's effort to cast his response to the pandemic in political terms. Three administration officials, who spoke on the condition of anonymity, told the newspaper that Trump had privately suggested to Treasury Secretary Steven Mnuchin, who oversees the IRS, to formally sign the checks. However, the president is not an authorised signer for legal disbursements by the US Treasury. It is standard practice for a civil servant to sign checks issued by the Treasury Department to ensure that government payments are nonpartisan, the media reported.

Computer code must be changed to include the president's name and the system must be tested, these officials said. "Any last-minute request like this will create a downstream snarl that will result in a delay," said Chad Hooper, a quality-control manager who serves as national president of the IRS's Professional Managers Association. A Treasury Department spokeswoman, meanwhile, denied any delay and said the plan all along was to issue the checks next week.

Since the beginning, Trump has repeatedly called the legislation "a Trump administration initiative" and placed himself singularly at the center of what the government is doing to help Americans during the coronavirus response. About 150 million Americans and others are expected to receive the one-time payment. The first wave of recipients includes mainly people who filed a 2018 or 2019 tax return and gave the IRS their direct-deposit information.

Under the stimulus plan, single filers earning up to USD 75,000 a year will receive a payment of USD 1,200. Married couples earning up to USD 150,000 a year will receive a payment of USD 2,400. Parents will receive an additional USD 500 for each child under 17, the media reported.

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Beijing: The authorities of the Chinese city of Wuhan - the epicenter of the COVID-19 pandemic - have recalculated statistics of the coronavirus disease, increasing the number of confirmed cases by 325 to 50,333 and the death toll by 1,290 to 3,869.

"The number of confirmed cases has risen by 325 to 50,333, the number of victims has increased by 1,290 to 3,869," the authorities said via the Weibo social network.

The World Health Organization declared the COVID-19 outbreak a pandemic on March 11. To date, more than 2.1 million people have been infected with the coronavirus worldwide, with over 144,000 fatalities, according to Johns Hopkins University.

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The worldwide death toll from the novel Coronavirus pandemic rose to 160,685 on Sunday, according to a tally from official sources compiled by AFP. More than 2,334,130 declared cases have been registered in 193 countries and territories since the epidemic first emerged in China in December.

Of these cases, at least 518,900 are now considered recovered. The tallies, using data collected by AFP from national authorities and information from the World Health Organisation, probably reflect only a fraction of the actual figures.

Only serious being tested
Many countries are testing only the most serious cases. In the US, now the worst-hit country, the death toll stood at 39,090 with 7,35,287 infections. At least 66,819 patients have recovered. Italy is the next most-affected country with 23,227 deaths and 1,75,925 confirmed infections.

It is followed by Spain with 20,453 fatalities and 1,95,944 infections, France with 19,323 deaths and 1,51,793 infections and Britain with 15,464 deaths and 1,14,217 cases. China — excluding Hong Kong and Macau — has to date declared 4,632 deaths and 82,735 cases.

Europe has listed 1,153,148 cases and 101,493 deaths to date, the US and Canada together have 7,68,670 cases with 40,619 deaths, Asia 1,62,256 cases with 6,951 deaths, the Middle East 1,22,819 cases with 5,559 deaths, Latin America and the Caribbean 98,202 cases with 4,915 deaths, Africa 21,165 cases with 1,058 deaths and Oceania 7,879 cases with 90 deaths.

2,334,130
No. of people infected worldwide

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US President Donald Trump has warned China that it should face consequences if it was "knowingly responsible" for the spread of COVID-19, upping the ante on Beijing over its handling of the COVID-19 pandemic.

Trump, who has expressed disappointment over China's handling of the disease, alleged non-transparency and initial non-cooperation with the US on dealing with the crisis. "If they were knowingly responsible, yeah, then there should be consequences. You're talking about, you know, potentially lives like nobody's seen since 1917," he said on Saturday.

Trump said his relationship with China was very good till the time the deadly COVID-19 swept across the world. He said there was a big difference between a mistake that got out of control and something done deliberately. He also expressed his doubts over the official Chinese figures on the number of deaths in their country, claiming that the fatalities were way ahead of the US.

A premier Chinese virology laboratory in Wuhan, which is in the eye of the storm for allegedly being the source of Coronavirus, has for the first time refuted the charge that the deadly virus originated from his lab before it spread across the world and wreaked havoc.

Hungry, jobless turn to food banks in US

Thousands of families hit by the pandemic are turning to food banks to get by, waiting hours for donations in lines of cars stretching as far as the eye can see. And with 22 million people out of work seemingly overnight, the charities feeding homeless and scared people fear the day will come when they cannot cope with the tsunami of demand.

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Despite the World Health Organisation's warnings to not rush into easing the Coronavirus restrictions as it could lead to a resurgence of the disease, some of the affected countries have started to restart their economies.

Spain, which was also planning to ease the lockdown when the daily deaths dropped below 400, had to reconsid its plan after recording a spike for the second day on Wednesday. Another 435 people died in the past 24 hours, bringing the overall death toll to 21,717, said the authorities.

Pedro Sanchez, Spain PM

Spain has suffered the third-highest number of deaths in the world after the US and Italy, with infections now hitting 2,08,000 cases, health ministry figures showed. Monday's figure of 399 deaths was the lowest in four weeks, but a day later, it rose to 430 with officials explaining the numbers tend to go up slightly on Tuesday following delays in receiving regional data on weekend deaths.

The March 14 lockdown has been twice extended with Spain Prime Minister Pedro Sánchez seeking parliament go-ahead to prolong nation's state of emergency until May 9. "We must avoid missteps. If we stay on top of the virus and our health system maintains and reinforces that impression, then we will propose another step," BBC quoted him as saying.

A worker on a construction site on Wednesday in Cenon, France, as works resume after stopping several weeks; long lines built up outside the few McDonald's drive-thrus that started serving customers again; more than 10 million employees in France - one out of every two in the private sector - have been laid off during the lockdown. Pic/AFP

But from Sunday, the conditions are to be eased for youngsters in Spain, who have not been allowed out of the house for nearly six weeks under one of the most restrictive lockdowns in the world. From April 26, those under 14 will be allowed to go for a walk with one of their parents or accompany them on trips out to buy food, medicine or go to the bank.

Addressing MPs at Wednesday's parliamentary session, Sánchez said moves to ease the lockdown would likely begin in the second half of May. "The second half of May offers the prospect of a scaling-back [of the lockdown], of phase two of the fight" when the restrictions "will be modified", he said.
But the lockdown "will not be lifted until we are prepared for it because we are not going to take any risks," he said, insisting that "any optimism must be tempered by prudence".
'
"We must be incredibly careful in this phase," he said. "The scaling-back period will be slow and gradual, precisely because it has to be safe." Restrictions were also being eased in Denmark, Austria and France. In the US, too, some states were relaxing restrictions. The pandemic has infected over 2.5 million people and killed over 1,77,000 around the world.

Iran and Iraq continue to report new deaths

Iraq, which had on Tuesday partly eased the lockdown restrictions, recorded one more fatality, bringing the tally to 83 on Wednesday. The Health Ministry said the total number of cases reached 1,602 with 28 new cases, reported Anadolu Agency. In Iran, where local shops were reportedly allowed to open from April 20 but with social distancing in place, reported 94 new deaths on Wednesday. But the cases of infections was on the way down, it said. Health ministry said the fatalities detected in the past 24 hours took Iran's overall toll to 5,391; and infections climbed to 85,996 with 1,194 new cases. "If we arrogantly think that the job is done and we have won, then this would be the biggest problem that could affect us," President Hassan Rouhani said. Iran has struggled to contain the outbreak. Despite that, Iran has allowed many businesses to reopen since April 11 after shutting most down in mid-March to prevent the spread of the disease.

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Sunlight kills COVID-19 while warmer temperatures and humid weather significantly damage the virus, measured in terms of the virus' half-life or the time it takes to cut its potency in half, according to the latest breakthrough research from the US Department of Homeland Security's most advanced biocontainment lab, released at the White House on Thursday.

The coronavirus outbreak in the US has killed nearly 50,000 Americans and infected more than 860,000 till date. Research around the effect of temperature and humidity has been gaining traction for weeks, these are the most downloaded papers on research websites but this is the first time the US government has put an official stamp on initial results of temperature tests on COVID-19.

"Our most striking observation to date is the powerful effect that solar light appears to have on killing the virus, both on surfaces and in the air. We've seen a similar effect with both temperature and humidity as well. Increasing the temperature and humidity or both is generally less favourable to the virus," Bill Bryan, chief of the science and technology directorate at the US Department of Homeland Security, said.

In a room at 70-75F temperature with 20 per cent humidity, the half-life of the virus is about an hour, according to Bryan. "But you get outside and it cuts down to a minute and a half, very significant difference when it when it gets hit with UV rays," he said.

According to the same research, the virus' half-life on surfaces reduces dramatically with a combination increase of temperature and humidity. When the temperate is kept constant at 70-75F and only the humidity is cranked up from 20 per cent to 80 per cent, the virus' half-life is shown to crash from 18 hours to 6 hours. If the temperature is increased to 95F, the half-life sinks to barely 60 minutes.

Bryan said this testing was done at DHS' advanced biocontainment lab in Maryland, just outside the national capital. Pointing to charts with data from experiments on the COVID-19 virus, Bryan said the virus half-life plunges "drastically" with exposure to higher temperatures and even minimal exposure to humidity.

Bryan said the DHS biocontainment lab is the only one in America that has the capability to do the kind of testing that has led to the research on the virus' UV and temperature tolerance.

Bryan explained the mechanics of the COVID-19 temperature tolerance experiment in simple terms. He said the virus was first locked into a 5-gallon bucket and suspended in the air inside. "We're able to take a particle of a virus and suspend it in the air inside of this drum and hit it with various temperatures, various humidity levels, multiple different kinds of environmental conditions to include sunlight. And we're able to measure the decay of that virus while it's suspended in the air. This is how we do our aerosol testing."

"While there are many unknown links in the COVID-19 transmission chain, we believe these trends can support practical decision making to lower the risks associated with the virus," Bryan said. The DHS team has also tested the effect of bleach and isopropyl alcohol on the virus, "specifically in saliva and respiratory fluids".

"And I can tell you that bleach will kill the virus in five minutes, isopropyl alcohol will kill the virus in 30 seconds, and that's with no manipulation. No rubbing."

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Washington: Girls her age play Candy Crush or like watching cartoons, but 15-year-old Hita Gupta peps up hundreds of lonely Americans, including the elderly and children, marooned in nursing homes due to the COVID-19 lockdown by sending them gift packs and spirit-lifting notes.

The 10th-grade Indian-American student from Pennsylvania's Conestoga High School has an NGO 'Brightening A Day' and is using it to spread love, hope and joy among America's nursing homes' residents, especially senior citizens, to help them keep at bay their boredom arising from the COVID-19 restrictions.

Gupta brightens up their lives by sending them handwritten notes and gift packs containing puzzle and colouring books and a packet colour pencils.

"It saddens me to think of how lonely or depressed many nursing home residents feel because they cannot see their loved ones. Our seniors are already one of the most isolated groups. A research has shown that more than 40 per cent of seniors regularly feel lonely," Gupta told PTI in an email interaction.

"During this uncertain time, which is causing panic among many seniors, it's our responsibility to let them know that they are not alone. I initially started sending gift packs to nursing homes using self-funding. Now, I have sent them to residents of 16 local nursing homes," she said.

Each gift pack contains one puzzle book, one colouring book, and a pack of colour pencils/crayons, Gupta said. "It also contains an uplifting note written by my 9-year-old brother Divit Gupta," she said.

Her NGO has reached more than 2,700 kids and seniors in 50 hospitals and nursing homes in seven different States in the US with hand-made cards on holidays like Christmas and Valentine's Day. "We have also sent school supplies and cards to orphanages in India," Gupta said.

Gupta's initiative has won her praise from one and all.

"Need some inspiration? 15-year-old Hita Gupta, from Pennsylvania, USA, is brightening the lives of nursing home residents with gift packs through her NGO, Brighten A Day," the US Embassy in New Delhi wrote on its Facebook page.

"She aims to lift the spirits of those who are in need of some cheer by sending them love, hope, and joy through cards and gifts. During the COVID-19 lockdown period, she is sending handwritten notes and gift packs to cheer the residents and help them overcome loneliness and isolation. More power to you Hita!" the embassy said.

Nursing homes throughout the US are limiting the interaction of senior citizens who remain mostly confined to their rooms. Outsiders are also prohibited form visiting them, resulting in feelings of loneliness and isolation in many of them.

The US is the worst affected country from the coronavirus, with 842,000 infections and over 46,000 deaths reported so far. According to Centre for Diseases Control and Prevention, eight in every 10 deaths due to the coronavirus reported in the US are adults, and people who are 65 years old or above.

Globally, the coronavirus pandemic has claimed over 185,000 lives and infected more than 2.6 million people, according to the Johns Hopkins University data.

China has approved its third coronavirus vaccine for the second phase of clinical trials as it reported 12 new COVID-19 cases, taking the total number of infections in the country to 82,816. China has approved three coronavirus vaccines, including the one developed by Chinese military, the People's Liberation Army (PLA) for clinical trials. An "inactivated" vaccine developed by Wuhan Institute of Biological Products under the China National Pharmaceutical Group (Sinopharm) and the Wuhan Institute of Virology (WIV) started its clinical trials, state-run Xinhua news agency reported.

An "inactivated" vaccine consists of virus particles, bacteria, or other pathogens that have been grown in culture and then lose disease producing capacity. In contrast, live vaccines use pathogens that are still alive. WIV has been in the eye of the storm in recent weeks as US President Donald Trump and top American officials alleged that the coronavirus may have escaped from there and demanded a probe into it. An official of the WIV denied it, terming the allegation "entirely based on speculation".

A total of 96 persons in three age groups have received the vaccine in the first phase of clinical trial as of April 23. The vaccine has shown good safety results so far and vaccine receivers are still under observation, said the Chinese pharmaceutical company Sinopharm. The randomised, double-blind and placebo-controlled clinical trials of the inactivated vaccine are conducted in Jiaozuo, central China's Henan Province, and the second phase of clinical trial will focus on the vaccination procedure, it said.

The vaccine will also go through the third phase of the clinical trial, and it may take about one year to complete the clinical trial before finally reaching the conclusion on the vaccine's safety and efficacy, it said. China has approved three COVID-19 vaccine candidates for clinical trials. An adenovirus vector vaccine, developed by Institute of Military Medicine under the Academy of Military Sciences, was the first to be approved to enter a clinical trial. The first phase of the clinical trial was completed at the end of March, and the second phase started on April 12.

Meanwhile China's National Health Commission, (NHC) said on Saturday that 12 newly confirmed COVID-19 cases were reported in the country on Friday, of which 11 were imported. The other one was domestically transmitted in Heilongjiang Province bordering Russia. The death toll in the country remained at 4,632 people as no fatalities were reported due to coronavirus on Friday, it said.

The overall confirmed cases on the mainland had reached 82,816 by Friday, including 838 patients who were still being treated and 77,346 people discharged after treatment. The total number of imported cases of the coronavirus in China increased to 1,629 on Friday, of this 909 had been discharged from hospitals after recovery, and 720 were being treated with 25 in severe conditions, it said. Also on Friday, 29 asymptomatic cases were reported. So far, 983 suspected asymptomatic cases, including 150 from abroad, were still under medical observation, it said.

Coronavirus' first epicentres Hubei and its capital Wuhan had 553 asymptomatic cases under medical observation, state-run Xinhua news agency reported. The asymptomatic cases were a cause of concern as the government has lifted over two-month lockdown in Hubei and Wuhan after cases abated.

Asymptomatic cases refer to people who are tested positive for the coronavirus but develop no symptoms such as fever, cough or sore throat. They are infectious and pose a risk of spreading to others.

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China has approved its third Coronavirus vaccine for the second phase of clinical trials as it reported 12 new COVID-19 cases, taking the total number of infections in the country to 82,816. The approved vaccine also includes one developed by Chinese military, the People's Liberation Army (PLA) for clinical trials. An "inactivated" vaccine developed by Wuhan Institute of Biological Products under the China National Pharmaceutical Group (Sinopharm) and the Wuhan Institute of Virology (WIV) started its clinical trials, state-run Xinhua news agency reported.

The inactivated vaccine consists of virus particles, bacteria, or other pathogens that have been grown in culture and then lose disease producing capacity. In contrast, live vaccines use pathogens that are still alive. WIV has been in the eye of the storm in recent weeks as US President Donald Trump and top American officials alleged that the Coronavirus may have escaped from there and demanded a probe into it. An official of the WIV denied it, terming the allegation "entirely based on speculation".

A total of 96 persons in three age groups have received the vaccine in the first phase of clinical trial as of April 23. The vaccine has shown good safety results so far and vaccine receivers are still under observation, said the Chinese pharmaceutical company Sinopharm.

72 therapeutics trial underway, 211 in planning stages in the US

A top Trump administration health official has said that as many as 19 therapeutics trial are underway and 211 in planning stages in a bid to find the cure for Coronavirus. "We are leaving no stone unturned to find the antidote for Coronavirus... We don't have any approved therapeutics for the virus but we are actively involved with the academic, commercial and private sector to find it," FDA commissioner Stephen M Hahn told reporters at a White House news conference.

"Seventy-two trials of therapeutics are underway in the United States under FDA oversight and 211 are in the planning stages, so we expect to see more. This includes convalescent plasma as well as antiviral therapies," Hahn added. According to Hahn, work is continuing on finding a vaccine. FDA has authorised two firms on vaccine trials. Hahn said that the FDA has told manufacturers that in order to market anti-body tests in the US, they have to validate their tests.

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A four-year-old Indian girl in Dubai has become one of the youngest in the United Arab Emirates (UAE) to have recovered from the novel coronavirus after walking free from hospital last week, it was reported.

The girl, known only as Sivani, was given a fitting send off by medical staff at Al Futtaim Health Hub on April 20, 20 days after being admitted on April 1, the Gulf News report said.

Sivani contracted the virus from her mother - a front line health worker - who fell ill in March.

Both Sivani and father dad were also tested despite not having any symptoms and, unlike her father, Sivani was found to be positive.

The girl and her mother were kept in the same facility, but concern was greater for the minor who had also fought off a rare type of kidney cancer last year called ganglioneuroblastoma.

Being a cancer survivor, doctors made extra precautions.

"Sivani had undergone chemotherapy sessions only last year and hence her immune system was still weak," Gulf News reported citing Tholfkar Al Baaj, group medical director at Al Futtaim Health Hub and the consultant in family medicine who treated Sivani, as saying.

"The doctors were concerned as she was at higher risk of developing a severe form of the disease and therefore, we had put her under close monitoring. Fortunately, she did not develop any complications from the infection," he added.

Sivani remained under treatment for 20 days before two consecutive negative swab tests rendered her all clear. She will now undergo 14-days quarantine at home.

Her mother remains under observation and was expected to be released soon.

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The White House released new guidelines Monday aimed at answering criticism that America's coronavirus testing has been too slow, and President Donald Trump tried to pivot toward a focus on 'reopening' the nation. Still, there were doubts from public health experts that the White House's new testing targets were sufficient. Monday's developments were meant to fill critical gaps in White House plans to begin easing restrictions, ramping up testing for the virus while shifting the president's focus toward recovery from the economic collapse caused by the outbreak. The administration unveiled a 'blueprint' for states to scale up their testing in the coming week, a tacit admission, despite public statements to the contrary, that testing capacity and availability over the past two months have been lacking.

The new testing targets would ensure states had enough COVID-19 tests available to sample at least 2.6 per cent of their populations each month, a figure already met by a majority of states. Areas that have been harder hit by the virus would be able to test at double that rate, or higher, the White House said. The testing issue has bedeviled the administration for months. Trump told reporters on March 6 during a visit to the CDC in Atlanta that 'anybody that wants a test can get a test,' but the reality has proved to be vastly different. The initial COVID-19 test developed by the Centers for Disease Control and Prevention was contaminated, and early kits operated only on platforms able to perform a small number of test per day. While the rate of testing increased as tests developed for higher-capacity platforms, they were still limited by shortages of supplies, from nasal swabs to the reagents used to process the samples.

Administration officials maintained Monday that the limiting factor now is actually the availability of samples from people who have been tested ' either because guidelines on who could be tested are too stringent or because there are not enough health workers able to take nasal swab samples from them. The CDC moved to address one of those concerns Monday, expanding the list of people to be prioritized for virus testing to include those who show no symptoms but are in high-risk settings like nursing homes. And Trump met with leaders of businesses including CVS, Walmart and Kroger, who said they were working to expand access to tests across the country. 'Testing is not going to be a problem at all,' Trump said later in the Rose Garden.

However, many of the administration's past pledges and goals on testing have not been met. Jeremy Konyndyk, a disaster preparedness expert who helped lead the Obama administration response to Ebola, said the administration's testing plans are well short of what is needed. Researchers at Harvard have estimated the country needs to be testing a minimum of 500,000 people per day, and possibly many more. Konyndyk said the aim should be 2 million to 3 million per day. Trump said the current total, up sharply in recent days, is over 200,000 per day. Konyndyk said, 'Over the past month, we've doubled or if you want to be really generous tripled the testing capacity in this country. We need to take where we are now and expand it 10-fold."

The testing blueprint for states provides details missing from the administration's guidelines for them to return to normal operations that were released more than a week ago. It includes a focus on surveillance testing as well as 'rapid response' programs to isolate those who test positive and identify those with whom they had come in contact. The administration aims to have the market 'flooded' with tests for the fall, when COVID-19 is expected to recur alongside the seasonal flu. Trump and administration medical experts outlined the plan on a call with governors Monday afternoon, before unveiling them publicly in a Rose Garden press conference. The White House announcements came as Trump sought to regain his footing after weeks of criticism and detours created in part by his press briefings.

Days after he set off a firestorm by publicly musing that scientists should explore the injection of toxic disinfectants as a potential virus cure, Trump said he found little use for his daily task force briefings, where he has time and again clashed with medical experts and reporters. Trump's aides had been trying to move the president onto more familiar and, they hope, safer, ground: talking up the economy in more tightly controlled settings. Republican Party polling shows Trump's path to a second term depends on the public's perception of how quickly the economy rebounds from the state-by-state shutdowns meant to slow the spread of the virus.

On Monday, the White House initially announced there would be a Trump briefing, but canceled it as Trump's greatest asset in the reelection campaign ' his ability to dominate headlines with freewheeling performances ' was increasingly seen as a liability. But hours later, Trump it became clear Trump had other ideas. He held court in the Rose Garden for a bit less than an hour. Spokeswoman Kayleigh McEnany said that briefings would be held later in the week but 'they might have a new look to them, a new focus to them.' Trump said he hoped that virus deaths would end up no more than 60,000 to 70,000, slightly revising upward his public estimate of recent days as the U.S. toll neared 56,000 on nearly 1 million cases.

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The UK came together on Tuesday for a minute's silence in the honour of hundreds of healthcare and other workers who have lost their lives on the frontline of the Coronavirus fight across the country.

Prime Minister Boris Johnson, who just recovered from a severe coronavirus attack, led the tributes with UK Chancellor Rishi Sunak at 10 Downing Street for the National Health Service (NHS) and other key workers across care homes and public transport.

The tribute comes as the government announced a new time-bound insurance scheme for the families of such public sector healthcare workers who lost their lives while on duty during the pandemic, with a £60,000 Life Assurance Scheme.

"Financial worries should be the last thing on the minds of their families so in recognition of these unprecedented circumstances we are expanding financial protection to the NHS and social workers delivering publicly funded care on the frontline," said UK Health Secretary Matt Hancock.

"Nothing can make up for the tragic loss of a loved one during this pandemic. We owe a huge debt to those who die in service to our nation and are doing everything we can to protect them.

"We will continue to strive night and day to provide them with the support and protection they need and deserve to keep them safe as they work tirelessly to save lives," he said.

He said that bereaved family members will receive a £60,000 lump sum, worth roughly twice the average pensionable pay for the NHS staff, with the cost met by the government. The cases in the UK has reached 1,58,348 while 21,092 people have died, according to Johns Hopkins University tracker.

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