New Delhi: The National Green Tribunal (NGT) on Friday issued notices to LG Polymers, Union Environment Ministry, Central Pollution Control Board (CPCB) and others regarding the Vizag gas leak incident.

The NGT has directed LG Polymers, India, at whose plant the gas leakage occurred, to forthwith deposit an initial amount of Rs 50 crore taking note of damages caused due to the incident.

Further hearing in the matter is scheduled for May 18.

On Thursday, a styrene gas leak at the plant of LG Polymers in RR Venkatapuram village in Visakhapatnam district of Andhra Pradesh had claimed 11 lives.

NGT's principal bench headed by its Chairperson AK Goel also issued notice to Andhra Pradesh Pollution Control Board (PCB) and District Magistrate of Vishakhapatnam.

The Tribunal has also sought a report from a 5-member committee comprising former Judge of Andhra Pradesh High Court, Justice B Seshasayana Reddy, Former Vice-Chancellor of Andhra University, Professor Ch V Rama Chandra Murthy, Head of Chemical Engineering Department of Andhra University, Professor Pulipati King, CPCB Member Secretary and Director of CSIR-Indian Institute of Chemical Technology.

NGT said that the committee may visit and inspect the site at the earliest and give its report before the next date via email and site visit may be initially conducted by members available locally in consideration with outside members online.

It said that the committee may specifically report on the sequence of events, causes of failure, the extent of damage to life, human and environment, steps to be taken for compensation of victims and restitution of the damaged property among others.

The bench has directed the District Magistrate of Vishakhapatnam and Regional Office of Andhra Pradesh PCB to provide logistic support to the Committee to enable their fact-finding and reporting.

It took suo-motu cognisance on the basis of media reports on the leakage of hazardous gas, Styrene from a chemical factory owned by the South Korean company LG Polymers. The incident has caused damage to the environment and habitat.

Styrene gas is a hazardous chemical and as per rules, it requires on-site and off-site emergency plans to ensure prevention of damage.

NGT noted that there appears to be a failure to comply with the rules and other statutory provisions and leakage of hazardous gas at such a scale adversely affecting public health and environment clearly attracts the principle of 'Strict Liability' against the enterprise engaged in a hazardous or inherently dangerous industry.

"Such an entity is liable to restore the damage caused under the Environment Law, apart from other statutory liability. The statutory authorities responsible for authorizing and regulating such activities may also be accountable for their lapses, if any, in dealing with the matter," the NGT said.

Stressing that it is necessary to ascertain the facts relating to the extent of damage, the extent of the failure and consider remedial measures, the bench listed the matter for May 18 for further hearing.

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A chance to act with Leo and De Niro

Leonardo DiCaprio and Robert De Niro are giving fans the chance to appear in their upcoming film, Martin Scorsese’s adaptation of Killers of the Flower Moon. DiCaprio and De Niro are using the upcoming production to raise funds for the All-In Challenge, an online initiative that gives stars from all corners of the entertainment industry a chance to offer donation initiatives to benefit America’s Food Fund, as per reports. They explained that those who make a donation will have a chance to win a walk-on role in the production.

Ellie helps those in lockdown

Singer Ellie Goulding has helped source 400 mobile phones, which will be given to homeless people to help them through the lockdown. The distribution of the phones began on April 15. The phones will go towards people that the organisation, Crisis, supports, as well as those who are staying in hotels across London.

Tom Hardy to read bed-time stories

Tom Hardy will read night-time tales on the long-running series Bedtime Stories. The episodes of the BBC Children’s channel CBeebies will run from April 27 through May 1. The episodes were shot in Hardy’s garden, following social distancing guidelines. He will be joined by his French bulldog named Blue for some of the bedtime stories. The development, the channel alludes, is a step further in providing engaging content relevant to the situation. 

Ben, Matt play poker

Ben Affleck, Matt Damon and other stars raised $1.75mn through poker, for an online celebrity poker tournament, All In For America’s Charity. They raised $1.75 million for Feeding America, a non-profit organisation that distributes food to those in need amid  the outbreak, as per reports. Celebrities such as Tom Brady, Adam Sandler and Bryan Cranston bought in for $10,000 each at the food bank fundraiser.

Off screen superhero Krasinski to play one on screen?

Actor John Krasinski, who has been lifting spirits amid the pandemic with his series, Some Good News, has reportedly met with Marvel Studios for an unspecified project. Although details about the project are awaited, it is reported that Marvel has been holding “virtual meetings” with actors, directors and writers lately, and Krasinski was one of them. It also indicated that Krasinski might be in talks for a role in Young Avengers. Another possibility that the site mentioned is a Fantastic Four reboot. Neither Marvel nor Krasinski has confirmed the development.

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Actor Matthew Perry, best known as Chandler Bing in the popular sitcom "Friends", has been spending some time in kitchen amid the coronavirus lockdown. Taking to social media, Matthew posted a picture of cookies that he baked himself. More than the tempting cookies, it's his caption that grabbed attention of his fans.

 

 

 

View this post on Instagram

I made these by the way. Also I’m not wearing any pants. #gettingreadyforsomeseriousnudeeating

A post shared by Matthew Perry (@mattyperry4) onApr 20, 2020 at 6:07pm PDT

Revealing a bit of the trademark Chandler Bing wry humour, Perry wrote: "I made these by the way. Also, I am not wearing any pants. Getting Ready for some serious nude eating," he wrote.

On the work front, Matthew and his other "Friends" co-stars -- Courteney Cox, Jennifer Aniston, Lisa Kudrow, David Schwimmer and Matt LeBlanc -- will be soon seen in a "Friends" reunion special.

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Veteran actor Sylvester Stallone extended his warm wishes to the Hollywood superstar Al Pacino who celebrated his birthday on Saturday. The 'Rocky' legend greeted the 80-year-old turned icon on Saturday on Instagram.

The 'Rambo' actor shared a dashing picture of the two on his official handle showing both in Black, all suited up. Taking it to the captions, the 73-year-old wrote: "A very very happy birthday to the brilliant Al Pacino !!!!"

 

 

 

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A very very happy birthday to the brilliant Al Pacino !!!!

A post shared by Sly Stallone (@officialslystallone) onApr 25, 2020 at 12:26pm PDT

Scores of comments followed the post with many of the icon's fans extending birthday wishes. Having an impressive array of films under his belt, Pacino has been a part of classics like the 'Godfather' series, 'Scarface', 'Serpico', 'The Devil's Advocate', and many more during a career spanning more than five decades.

Regarded as one of cinema's greatest and most influential actors, the legendary actor received the Academy Award for his character in the 1992 released movie 'Scent of a Woman'

Recently, the superstar also starred in ace filmmaker Quentin Tarantino's 'Once Upon A Time... In Hollywood', along with the other star cast -- Leonardo DiCaprio, Brad Pitt, and Margot Robbie

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Known for belting out hits like "Love story", "Blank space" and "Look what you made me do", singer Taylor Swift is spending her lockdown hours cooking, sipping wine and listening to old classic numbers. "I love spending a full evening cooking a meal while sipping a glass of wine and listening to old music," Swift told People, reports femalefirst.co.uk.

She had earlier told the portal SiriusXM that she has been watching old films that she had not seen before. "A lot of people have been watching lots and lots of TV in this time of quarantine. I have actually been going back and watching old films that I hadn't seen before. I went and watched - I actually hadn't seen 'Rear Window' and if you haven't seen that film go check it out. It's got Grace Kelly, it's phenomenal, it's (by) (Alfred) Hitchcock," she said.

Recently, the singer lashed out at Big Machine Records after it was revealed that they were releasing an album of live performances of Swift's old songs. Earlier this month, Swift participated in pop star Lady Gaga's COVID-19 relief concert "One World: Together at Home", which raised almost $128 million in the US.

The two-hour event also saw the participation of Bollywood stars Shah Rukh Khan and Priyanka Chopra, besides international stars as Gaga, Stevie Wonder, Paul McCartney, Elton John and Lizzo among others.

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Hollywood superstar Angelina Jolie has expressed her condolences on the demise of Indian actor Irrfan Khan, in a message shared with IANS.

"I had the privilege of working with Irrfan Khan on the set of A Mighty Heart. He stood out for his generosity as an artist, which made it a pleasure to work in any scene with him. I remember the intensity of his commitment, and equally his smile. I send my condolences and my sympathy to his family, his friends, and all admirers of his work, in India and around the world," Jolie said in her message.

"A Mighty Heart", is a 2007 drama directed by Michael Winterbottom based on the 2003 memoir of the same name by Mariane Pearl. The film accounts the aftermath of the kidnapping of Marianne's journalist husband Daniel Pearl in Pakistan, and his subsequent beheading by the kidnappers.

Jolie played Marianne Pearl while Irrfan impressed Karachi police chief Zeeshan Kazmi, in a well-written role. Most of the Karachi sequences of the film were shot in Pune.

The critically-acclaimed film was screened out of competition at the 2007 Cannes Film Festival, and is widely considered one of the earliest films to train the global spotlight on Irrfan Khan.

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Oscar-winning actress Natalie Portman has sent her love to the near and dear ones of Irrfan Khan, who died on Wednesday in Mumbai. Remembering Irrfan, Portman took to Instagram to share a photo of herself with the actor. In the photo, she is in a white bridal wear and is held by Irrfan, who is in a black and white suit with a hat. "Sending love to Irrfan Khan's loved ones today," she captioned the snap.

The two had featured together in Mira Nair's segment of "New York, I Love You", a 2008 American romantic comedy-drama anthology film.

Ever since the news of Irrfan's demise came out on Wednesday, celebrities from Bollywood as well as Hollywood where he was the face of India, have been pouring in.

Earlier, Hollywood star Angelina Jolie had also expressed her condolences, in a message shared with IANS.

"I had the privilege of working with Irrfan Khan on the set of 'A Mighty Heart'. He stood out for his generosity as an artist, which made it a pleasure to work in any scene with him. I remember the intensity of his commitment, and equally his smile. I send my condolences and my sympathy to his family, his friends, and all admirers of his work, in India and around the world," Jolie said in her message.

"A Mighty Heart", is a 2007 drama directed by Michael Winterbottom based on the 2003 memoir of the same name by Mariane Pearl. The film accounts the aftermath of the kidnapping of Marianne's journalist husband Daniel Pearl in Pakistan, and his subsequent beheading by the kidnappers.

Jolie played Marianne Pearl while Irrfan impressed Karachi police chief Zeeshan Kazmi, in a well-written role.

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Laughter is the best medicine and what more do you need to get through these tough times than some amazing sitcoms? Even though the world is in turmoil, nothing should stop you from spreading some much-needed light and laughter. So, this World Laughter Day, huddle in front of your TV sets with your loved ones and binge on these shows that will make you burst into laughter!

Brooklyn Nine-Nine

The Detectives in NYPD's 99th Precinct are the most entertaining lot you'll come across. With quirky tactics and brilliant detective skills, they are all so different and yet work so seamlessly together. You must watch the show for some hilarious moments that will surely make you roll on the floor laughing. Catch all the drama on this surprisingly functional precinct on Comedy Central on Saturdays at 7 pm.

Two and a Half Men

There is nothing more entertaining than two brothers who are stark opposites with one's son who has a different personality of his own. Charlie Harper is the epitome of cool while his brother Alan is somewhat socially awkward. Add to this Alan's son, Jake, who takes inspiration on life from both his dad and his uncle and you've got yourself 12 seasons of uninterrupted laughter. Tune in to Colors Infinity every day at 7 pm and witness the madness unfold.

Modern Family

When Modern Family first premiered on our screens, we could never have guessed it would turn into the juggernaut it is today. Centring around the lives of one extended family with three branches of immediate families, the show is one of the funniest and most relatable. Overcoming multiple challenges and addressing social diversity, the show has managed to change the way we look at families. Catch this unique family in its element only on Disney+ Hotstar.

FRIENDS

Let's not forget the classics. There is a strong possibility that you have watched this show countless times, yet whenever you watch it again, you realise how much you missed it. You must watch Chandler cracking sarcastic jokes when he is uncomfortable and Phobe being her quirky self while the rest of the gang continue to make you laugh. Watch the six Friends on COMEDY CENTRAL and amp up your Sunday.

The Marvelous Mrs Maisel

A clutter-breaking show, Midge Maisel is a brilliant comedienne trying to rise to stardom while she deals with her marriage and it's falling out. If you appreciate stand-up comedy yet like the twist of an extended back story, this is the show for you. Set in the late 1950s, the show portrays the life of a young American couple and their struggle to do comedy. Watch this brilliant show on Amazon Prime Video.

What are you waiting for? Celebrate World Laughter Day with these amazing shows and laugh your way into the new week.

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A day after the protest by hearing-and speech-impaired people turned violent in Pune, the government has assured them that their demands would be met. On Monday, thousands of deaf-mute protesters were badly thrashed by the police as they stood outside the social welfare department office in Pune. They wanted 16 demands to be fulfilled by the government.

On Tuesday, Social Justice Minister Dilip Kamble met the protesters and assured help. Social Justice and Special Assistance Minister Rajkumar Badoley, while addressing the Vidhan Sabha, has also assured that their grievances would be heard.

State Level Association for the Deaf (SLAD) president Pradeep More said, "The government has partially agreed to our demands, of which they have given priority to our secondary and higher secondary schooling for deaf children and also to recruit sign language teachers in such schools and colleges."

Minister Kamble said, "We were working on it and have assured them that their issues will be addressed before the session gets over. A meeting will be organised with members of SLAD and other NGOs under the chairmanship of Chief Minister Devendra Fadnavis." The Pune police administration issued a press release on the lathi-charge on Monday saying they "had to take action to maintain law and order".

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Unfriends is a film that revolves around rape, cyber crimes. It is a story about a middle class man named Veer (Sahil Akhtar) is who hopes to start his own business and is in search of an investor. Vijay (Nafe Khan), son of a minister, becomes friends with Veer through Facebook and decides to invest in his startup company. To celebrate their new venture, the two of them head off to Lonavala. While on their way, they meet a girl named meet Mouli (Mousumi Biswas). After spending time, Vijay takes advantage of her and rapes her. Veer, then, jumps in to save Mouli and the two escape from there. Vijay, who hails from an influential family, becomes the talk of the town over the huge controversy. Veer makes sure seek justice for Mouli and keeps his career on hold. Amid this, the politicians make sure to make life a living hell for Veer and Mouli. Veer even accepts Mouli as his life partner. Will Veer get justice for Mouli? This is how the story heads ahead.

Actress Rakul Preet Singh took to Twitter to debunk false news being shared about her. It was reported that she was spotted buying alcohol in the market.

“What was @Rakulpreet buying during the #lockdown? She was buying alcohol?,” read a tweet by @KRKBoxOffice. In the video shared, Rakul was seen in casuals. She had a mask on her mouth and is seen carrying a few items in her hands. Replying to the tweet, Rakul wrote, "Oh wow ! I wasn’t aware that medical stores were selling alcohol.”

What was @Rakulpreet buying during the #lockdown? She was buying alchohol? pic.twitter.com/XmBVYVL8Gn

— KRKBOXOFFICE (@KRKBoxOffice) May 7, 2020

Following Rakul's response, several netizens came to her support and tweeted that she need not justify the video as buying alcohol is not wrong. Some also pointed out that it is an invasion of privacy by making a video and posting it online.

All liquor shops were shut down when the lockdown was first imposed on March 25. During the third phase of lockdown which started on May 4, the government allowed liquor shops to function. However, owing to the chaos outside liquor shops on day one of the lockdown 3.0, several state governments shut down liquor shops.

Rakul will soon be seen in a cross-border romantic-comedy with actor Arjun Kapoor. The film is directed by debutant Kaashvie Nair and produced by Bhushan Kumar, Nikkhil Advani and John Abraham.

ALSO READ: Rakul Preet Singh talks about how her parents were more comfortable with the idea of her wearing a bikini

Sanjay Dutt is an actor who has appeared in a great many numbers of films spanning across genres, thus time and again proving his adaptability to wear the mask of different characters. The actor has been in the industry for a very long time and has even been part of the transformation and evolution of the Indian film industry.

Of late, Bollywood has been going through a paradigm shift as the world of content has been brought to digital platforms. OTT platforms have opened up new avenues and make any genre of series or films available, just a click away, which has been benignant for the viewers.

Actor Sanjay Dutt comments on how he feels OTT platform can be beneficial for artists, he says, "OTT platforms are flourishing and have brought about so much variety in terms of content. They also enable artists to experiment with material and characters. If I get a script that excites me, I would love to foray into digital entertainment."

Sanjay Dutt is an actor who is enriched with the experience of the various characters he has played on-screen and it would be thrilling to see him make a debut on OTT platform. The actor shows interest in foraying into the world of digital entertainment so the audience can just keep their fingers crossed and wait to see what happens!

2020 is an immensely packed year for Sanjay Dutt as the actor will be seen in five big banner films namely, KGF: Chapter 2, Shamshera, Bhuj: The Pride of India, Torbaaz and Sadak 2. The actor will certainly ace the characters as he can slip into any character given to him as he is rich with the experience of numerous characters he has played on -screen.

With the ongoing pandemic, our lives have almost come to a stand-still, and the lock-down is taking a toll on the mental health of many of us. At such a time of crisis, one can only try to keep the optimism alive and not let the situation get the best of them. Actor, Ranveer Singh, in a recent Instagram live session, appealed fans to do the same.

“It’s been a very difficult couple of weeks, emotionally difficult. Turbulent times with everything that is going on in the world. To all my friends & fans stay safe, hang in there, stay healthy. Sending you love, positive vibes & good energy. I’m always an optimist, I like to look at the bright side of things. I always like to stay positive in any situation that life throws up. To be honest, this is unprecedented. We all are in this together and I believe that on the other side of this we’ll come out with more compassion,” he said.

”Its been a very difficult couple of weeks, emotionally difficult. Turbulent times with everything that is going on in the world. To all my friends & fans stay safe, hang in there, stay healthy. Sending you love, positive vibes & good energy.” -Ranveer Singh live on insta today pic.twitter.com/qtYCbiUxyU

— RanveerSingh TBT | #83????♥️ (@RanveerSinghtbt) May 8, 2020

Ranveer and wife Deepika Padukone, at home, are keeping themselves occupied with workouts and household chores as they also keep sharing glimpses of their locked-down life. Post lockdown, they both await the release of Kabir Khan's sports drama '83.

An EU-funded project is developing software designed to prevent, detect and act on cyberattacks on smart meters in big infrastructure installations, boosting the security of our power supplies.

Liverpool's star footballer Mohamed Salah, 25, has donated a huge amount of money besides food to families in his hometown of Nagrig, a village in the Egyptian city of Basyoun, to help in the battle against the Coronavirus pandemic.

According to a report in British tabloid, The Sun, the Egyptian footballer sent supplies to poverty-hit residents along with some advice on how to stay safe from the virus.

Salah Ghaly, the Liverpool striker's father, said that the village has been sanitised and residents have been given facemasks to prevent the spread of the virus, which has already killed 205 people in the North African country. It is believed that the total amount donated by the Liverpool star is around £405,000 (R3.8 crore).
Mohamed is currently in lockdown like the rest of the UK, where the death toll has crossed 15,000.

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Former England footballer Rio Ferdinand's wife Kate has said that while she was initially 'anxious and stressed' with the Coronavirus-caused lockdown, she is now spending most of her time homeschooling her three children Lorenz, 13, Tate, 11, and Tia, nine. Kate, 28, in association with an online education company, has launched a free toolkit of edutainment activities for primary school children to help those homeschooling during the current lockdown.

"At the beginning of lockdown, I felt a bit anxious and stressed. I didn't have any routine but this is something to do every day. You feel like you're in a little community doing it together," Kate, 28, told Britain's MailOnline.

Speaking of the homeschooling experience, Kate said that she and hubby Rio, 41, are trying their best to make things fun: "For the first three weeks of homeschooling, I was overwhelmed. It's quite hard for us having three children and all having sessions at different times. It's about trying to get the balance of making it fun as well as doing school work and trying to manage a good family life."

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A video of Hertha Berlin forward Salomon Kalou shaking hands with his team-mates "shocked" key German politicians, who are set to decide Wednesday whether the Bundesliga can resume next month. "The video has done the German league (DFL) and professional football a disservice," Anja Stahmann, chairwoman of Germany's regional sports ministers, told radio station RBB on Wednesday. "I have heard from colleagues that they are shocked and shaken.

"We were struck by great doubts when we watched the video," admitted the sports senator for the state of Bremen. "I got the impression that good rules were being written down on paper, but that they were not actually being lived out." The Bundesliga is set to be given the green light by the government on Wednesday to resume later this month behind closed doors and with strict hygiene measures in place.

Germany's regional sports ministers have already approved the Bundesliga's plans to resume, but Stahmann said Ivory Coast international Kalou's video left a bad impression. "Some people think the Bundesliga has lost its grip in times of a pandemic," Stahmann added. On Monday, the former Chelsea forward was suspended by Hertha after posting a video to Facebook showing him greeting team-mates and club employees with handshakes, flaunting hygiene guidelines laid out by the league. Kalou apologised for disregarding the social distancing rules, saying: "it was a big mistake".

The 34-year-old also said he could understand how his video, shot in the dressng room, caused shockwaves as the league was seeking permission to return to action. Kalou has scored 48 goals in 151 Bundesliga games for Hertha, but is out of contract at the end of the season and could have played his last game for the club. "It was respectless and I want to apologise for that sincerely," he added.

"But I am about more than those five bad minutes that people see of me in the dressing room." However, Kalou's video drew criticism from the top of the German government. Health minister Jens Spahn said it was "right" that Hertha suspended Kalou and there were "consequences after the video".

Bavaria's premier minister Markus Soeder said the league has developed an "excellent" hygiene concept but "there are individual players, as we have read, who are behaving very, very poorly".

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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.

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

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

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

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

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

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

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

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

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

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

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

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

Will it make investment in debt fund safe?

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

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

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

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

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

What should investors do?

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

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

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

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

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

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

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

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

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

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!

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.

Last week the mutual fund industry was jolted by the news of Franklin Templeton MF winding down six of its debt schemes. The fund houses cited high redemption pressure and lack of liquidity due to COVID-19 as the reason behind the move.

There has been a rush of redemption in the debt market due to high volatility and uncertainty caused by the outbreak of pandemic. The stress is more evident in high-risk category of securities where liquidity has dried up. Notably, the schemes that were wound up belonged to the high credit risk category.

The recent FTMF fiasco led RBI to take note of the situation and step up to build confidence in the capital market.

On April 27, 2020, RBI announced the opening of a special liquidity facility (SLF-MF) worth Rs 50,000 crore to ease liquidity pressure on mutual funds.

Under SLF-MF, RBI will conduct repo operation of 90 days tenor at the fixed repo rate. Banks can avail funds under this facility between April 27, 2020 and May 11, 2020 or up to utilization of the allocated amount, whichever is earlier. RBI will review the timeline and amount, depending upon market conditions.

Banks have to utilise the funds availed under this exclusively for meeting the liquidity requirements of MFs by:

• Extending loans, and
• Undertaking outright purchase of and/or repos against the collateral of investment grade corporate bonds, commercial papers (CPs), debentures and certificates of Deposit (CDs) held by MFs.

The liquidity support under this would be eligible to be classified as held to maturity (HTM) even if it goes beyond the 25% limit of total investment in the HTM portfolio.

Will banks come to the aid?

For banks, availing funds at a lower rate (repo rate) and using it to purchase investment grade, which generally carry higher interest, and holding them till maturity seems like a good opportunity, but they may not be as enthusiastic to come to the aid of MFs.

You may recall that few days ago, RBI came out with a similar liquidity window worth Rs 50,000 for NBFCs. Of these, 50% of funds had to be dedicated towards investment in investment grade bonds, commercial paper, and non-convertible debentures small and mid-sized NBFCs and MFIs.

NBFCs who have been dealing with liquidity crunch for quite some time now is one of the worst affected sectors with rising risk of bad loans amid the COVID-19 outbreak.

As a result, the first tranche of the operation worth Rs 25,000 crore conducted few days ago received bids for just Rs 12,850 crore.

Similarly, the stress in debt mutual fund segment is not new - some categories of debt funds have been facing redemption pressure ever since the IL&FS debacle came to light. Banks may be reluctant to lend to mutual funds with higher exposure to lower quality papers, which have been lacking in liquidity.

If banks do lend to MFs it may be limited to those with good quality papers. This will not serve the intended purpose of the facility.

Many mutual funds investing in credit-risk grade securities may have offloaded good quality papers to meet the high redemption and may be now left with only lower quality papers. Risk aversion in banks has magnified due to rising fear of bad loan pile up. Hence, banks may not be keen to accept lower quality papers as collateral.

Besides, some mutual funds may already have high borrowing rate availed to fund redemptions and further borrowing may not be a viable option for them.

Thus, if redemption pressure continues, liquidity strain will continue in schemes carrying higher exposure to lower rated securities. Hence, RBI may have to come out with alternative steps to deal with issue that would infuse liquidity directly to mutual funds rather than relying on banks.

Word of caution for investors in debt funds

RBI and AMFI have assured investors that stress in capital market is confined to the high-risk debt MF segment at this stage; the larger industry remains liquid.

In the current market volatile and uncertain environment, it would be advisable to stay away from credit risk schemes. However, do not resort to panic selling. Doing that will have an exponentially negative effect on funds, primarily those having exposure to moderate and low rated assets.

Redemption pressure may force the fund managers to sell good quality papers in the portfolio in the secondary market and pile up exposure to low rated assets because it will be difficult to liquidate at fair value.

Keep in mind that debt funds are not risk-free. Investment in debt funds carry various risks relating to liquidity, credit quality, and interest rate. Therefore, before investing in debt funds understand the various risks involved and invest in schemes where the portfolio risk aligns with your own risk appetite and financial objective.

Moreover, choose a fund house that follows prudent investment process and stringent risk-management systems.

In these uncertain times, it would be wise to stick with liquid funds and overnight funds for the debt part of your portfolio as they are highly liquid and carry lower risk.

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.

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

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

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

Author: Divya Grover

This article first appeared on PersonalFN here.

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

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

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

The Indian equity markets are on a rollercoaster with the uncertainty surrounding the COVID-19 pandemic. It's been a nerve-racking experience for investors and wealth has been eroded.

As we continue to battle COVID-19 with lockdown 3.0, on a year-to-date basis the S&P BSE Sensex is down -23.9% as of May 5, 2020, (see Table 1 below).

Table 1: Wealth erosion across market cap segments

Balanced Hybrid Funds that are supposed to be balanced and protect downside risk have gone on to erode investors' wealth by seldom maintaining a 'fair balance' and displaying unreasonable love and exuberance for equities plus for taxation reason -- to be treated as an equity-oriented fund. (see Table 2 below).

Similarly, many multi-asset funds that hold the mandate to invest with allocation across three asset classes i.e. equity, debt and gold with minimum 10% in each have posted negative returns (see Table 2 below).

Table 2: Report card of Balanced Hybrid Funds and Multi-Asset Funds

ICICI Prudential Multi-Asset Fund, HDFC Multi-Asset Fund, and UTI Multi-Asset Fund, in particular, have not lived up to the expectation and the trust evinced by investors (going by their AUM size). Not just are their recent returns amidst the outbreak of COVID-19 crisis unappealing, but even the 3-year and 5-year compounded annulaised return is nothing to vie for. This is because they haven't been able to sensibly allocate to the three key asset classes: equity, debt and gold, and play the investment strategy astutely.

On the other hand, the Quantum Multi-Asset Fund of Funds (QMAFOF) has depicted true balance backed by its sensible investment strategy arrested the downside risk and relatively fared better vis-a-vis its peers over 3-year and 5-year time periods.

The Quantum Multi-Asset under normal circumstances by maintaining 25%-65% exposure to units of equity schemes (vide Quantum Long Term Equity Value Fund, Quantum Nifty ETF); 25%-65% exposure to units of debt and money market instruments (vide Quantum Liquid Fund, Quantum Dynamic Bond Fund); 10%-20% in units of gold schemes (vide Quantum Gold ETF); and up to 5% in money market instruments, Short-term Corporate Debt securities, Tri-Party Repo, Repo/ Reverse Repo in Government securities and Treasury Bills has been able to generate modest, yet appealing returns than the rest, and mitigated the risk by diversifying across asset classes: equity, debt and gold.

Historically it is proved that all classes never move in the same direction -- up or down -- at the same time. There could be times when certain asset classes perform better than the other and/or show an inverse relation to another (see Table 3).

Table 3: Here's how various asset classes fared per calendar year

If your multi-asset fund strategically allocates between equity, debt, and gold sensing the pulse of each asset class, maintains balance, and takes calculated risk sensible wealth creation is possible.

In the on-going COVID-19 crisis, equities will remain volatile, but given the sharp correction, there are and will be, enough long-term value-buying opportunities with a decent margin of safety.

Gold in such uncertain times would continue to gain all the attention. Easy monetary policy action and accommodative stance to address growth concerns, a record-high debt-to-GDP ratio, trade war tensions, geopolitical tensions, the potential risk to the inflation trajectory mainly due to food prices, increased stock market volatility, and the U.S. Presidential election in November 2020 are some of the factors expected to work in favour of gold. The precious yellow metal will demonstrate its trait of being a portfolio diversifier, a hedge (when other asset classes fail to post alluring returns), and command a store of value.

And speaking of debt & money market instruments, with exposure to highly rated papers and predominantly government securities, will act as a stabilizer.

A unique aspect of QMAFOF is that it has always taken 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

It is this wide-ranging and sensible approach that has helped QMAFOF to protect against the downside risk and reward its investors better than many of its peers. The fund managers, 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 strategically moved in and out of the aforesaid asset classes wisely recognising their upswings and downswings.

[Read: Why Tactically Invest Across Asset Classes amidst COVID-19 with Quantum Multi-Asset Fund Of Funds]

The choice is completely yours: to stay invested in a 'Balanced Hybrid Fund'/ Multi-Asset Fund that does not show true balance and keep harming your health and wealth; or make a sensible move and switch over to Quantum Multi Asset Fund of Funds that is truly balanced and has sensibly generated wealth for investors without the shrieking experience of a rollercoaster.

Wish to invest in Quantum Multi Asset Fund of Funds? Click here.

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.

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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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Russian tennis ace Maria Sharapova has allegedly flouted the strict Coronavirus-caused lockdown rules in the US, where over 55,000 have died due to the pandemic.

According to British tabloid, The Sun, Maria, 32, recently visited some friends around Los Angeles with boyfriend Alexander Gilkes, 41, whom she has been dating since 2018.

Maria was photographed on Friday, relaxing on a balcony alongside another couple at a Manhattan beach pad.

The quartet were in clear breach of the two-metre social distancing norm that has been laid down by the authorities in LA where there have been 850 COVID-19 deaths
till date.

A few days ago, Maria had announced on Instagram that she was heading to a friend's beach house. "Last night, we took a sunset road trip along PCH, picked up lobster brioche rolls from @broadstreetoysterco drive thru and made our way to a friend's beach house," the 2004 Wimbledon champion wrote.

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Nearly 125 sailors from 10 countries participated in the sailing and regatta events as part of the three-day vClusive Cup - India Yachting Festival, which concluded in Goa on Sunday. Organised by vClusive, Luxury Hues Group and Marine Solutions, the event was conducted under the auspices of the state Tourism Department, along with the Confederation of Indian Industries.

Representational picture

"The vClusive Cup - India Yachting Festival is a platform that focuses on lifestyle experience. Our success lies in the fact that the mega event connects brands and consumers on an engagement platform," Vinu Sundaresan, founder and CEO of vClusive, told reporters here.

"We are committed to shaping the development of the luxury and marine sector, hence, we believe in involving the industry towards the growth of the tourism and leisure industry at large."

The aim of the event, Sundaresan said, was to expand the horizons of marine and lifestyle tourism in the country, considering the fact that India has a coastline of 7,000 km which could be tapped.

Gautama Dutta, Executive Director, Marine Solutions, said: "Yachting is a leisure past time that is waiting to be developed into a highly leveraged lifestyle and leisure activity.

"We realise its potential and we are committed to developing it in India. We also understand that yachting is waiting to be experienced as a lifestyle that is satisfying, adventurous and thrilling."

There is a New India rising. Along with this rise, there is a growing demand for experiential leisure, he said.

"We believe yachting can fill this space promoting not only marine tourism but also building infrastructure and creating employment," Dutta added.

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This year, (fortunately or unfortunately) has shaped out to be a traveller's paradise, with over 16 long weekends coming up. There are a number of destinations, both domestic and international, that have gained popularity in the recent past as popular travel spots among tourists. Here are top 7 places you could visit in India and abroad, as per ixigo, a travel marketplace:

1. McLeod Ganj (Himachal Pradesh)
McLeod Ganj is a paramount center of Tibetan Buddhism and culture. Precisely known as Little Lhasa, the town is home to a number of monasteries, essential temples, and other ancient structures. This beautiful hill station has it all, from treks to strolls, delicious cuisines to amazing beverages, adventures to spiritual places and much more. If you are an adventure junkie, experience trekking and camping on the Triund trail.

Coorg. Pic courtesy/YouTube

2. Coorg (Karnataka)
One of the best times to experience the raw natural beauty of Coorg is during March. This month sees the blooming of tea and spice plantations which fills the valleys with fragrances, refreshing your senses to the core. Must visit places in Coorg include Abbey Falls, Nagarhole National Park, Namdroling Monastery, Burude Falls, Honnamana Kere Lake, among others.

3. Sundarbans (West Bengal)
In the pre-winter month of November, the gates of Sundarbans National Park open. This month makes traveling to the dense mangrove forests easier to navigate through the meandering rivers to spot the Royal Bengal Tigers, as they are out sunbathing by the river. With enjoyable temperatures, dense foliage, and a wondrous wildlife, Sundarbans is easily one of the best places to visit in November. Beware of crocodiles and wild boar.

4. Mount Abu (Rajasthan)
The only hill station of Rajasthan, Mount Abu is the perfect escape from the scorching heat of June. Sitting amidst green forests, it lies in the Aravalli mountain range, around 1,220 meters above sea level. Get most of your vacation here and visit places like Nakki Lake, the famous Sunset Point, Achaleshwar Mahadev Temple, Trevor¿s Tank and Toad Rock.

5. Istanbul (Turkey)
November in Istanbul is a few degrees warmer than the neighbouring countries of Europe and also provides a vigorous push of the exotic to ward off the winter blues. Quite literally the meeting ground of the East and the West, Istanbul is lined with frescoed palaces, churches, museums and art galleries. Indulge in a reviving Turkish bath, see the city from high above on a hot balloon or fill up on Baklava with Turkish tea.

6. Sri Lanka
Sri Lanka is stunningly picturesque, affordable and full of simple, smiling people. One of the most beautiful island nations of the world, its geography boasts of blissful beaches, rolling rainforests, and magnificent mountains while its culture and creative cuisine guarantee a trip most memorable.

7. Egypt
After the fierce heat of the summer months, September is pleasantly perfect to explore the ancient wonders and the endlessly spellbinding landscapes of Egypt. With peering pyramids, deserts, soaring minarets and temple ruins, this `Gift of the Nile¿ deserves a place in everyone¿s travel bucket list.

To loosen up and de-stress, millennials have understood that travelling is the best therapy. Utilising long weekends, Indians are exploring more offbeat locations rather than going to another city with the same hustle bustle, say experts. Dhruv Raj Gupta, Founder and CEO, TripShelf and Dhruv Sharma, CEO and Founder of GuestHouser, have listed few travel trends this year:

1. Staycation is in: Staycation or staying in the same city has undergone a very interesting paradigm shift due to over-tourism. Travellers are increasingly seeking out relaxed, luxury stays at holiday homes around them in the same city.

2. Choosing home stays over hotels: A growing population of well-travelled urban millennials has grown tired of conventional tourism; which focuses on the simple historical sightseeing and standardized hotel rooms. This population is looking for something more personal and unique wherein they can take a dip in an unfamiliar culture, and experience it by living with a native family. They also look forward to eating authentic food of the place they're visiting and home stays thus prove to be a good option.

3. Exotic or offbeat destinations: Stress busting and exploring unexplored places are the two top reasons for travel on long weekends amongst millennials instead of catching up with friends, research or writing. From quaint solo getaways to off-season mountain escapes and immersive adventures, urban millennials are not nervous about trying unexplored places. They prefer short backpacking trips with just 2-3 nights to stay, and don't mind taking overnight buses or road trips to destinations within a distance of 400 km from Delhi.

4. Last minute travel: With the upswing of various online portals and last-minute attractive deals, spontaneous trips are trending among millennials and they don't hesitate in making plans on the go. Bookings are made less than 24 hours before the trip to various off beat locations.

5. Solo travel on an all-time high: With an all-time high number of people travelling solo, the travel industry has completely transformed to enrich the experience of young solo explorers. These young travellers engage in enriching experiences, learning new skills, immerse themselves in culture while they are out there exploring. The solo excursion helps in a personalized experience that is curated based on individual likes and preferences.

6. Wellness retreat: As people are taking care of their mental health and are paying it equal attention to as their physical health, wellness trips are taking a huge hike. The goal is to be more mentally sound and relaxed before returning to the routine life. Activities like yoga, meditation, hiking, surfing, long treks or even running are the focus of such trips to reduce stress. Various places like Rishikesh, Gokarna, Coimbatore and Mysore have amazing wellness retreats.

New York: Maintaining strong social networks with positive, warm and trusting friendships in old age might be key to slowing down age-related decline in memory and brain functioning, researchers say.

Representational picture

The findings showed that superagers -- who are 80 years and older -- who have the cognitive ability at least as good as people in their 50s or 60s can have more satisfying, high-quality relationships compared to their cognitively average, same-age peers.

"This study supports the theory that maintaining strong social networks seems to be linked to slower cognitive decline," said Emily Rogalski, Associate Professor at the Northwestern University in the US.

"The study is particularly exciting as a step toward understanding what factors underlie the preservation of cognitive ability in advanced age, particularly those that may be modifiable," added Amanda Cook, doctoral student at the varsity.

Previous studies have shown psychological well-being in older age to be associated with reduced risk of developing Alzheimer's dementia.

"It's not as simple as saying if you have a strong social network, you'll never get Alzheimer's disease," Rogalski said.

"But if there is a list of healthy choices one can make, such as eating a certain diet and not smoking, maintaining strong social networks may be an important one on that list," Rogalski noted.

For the study, published in the journal PLOS ONE, the participants answered a 42-item questionnaire called the Ryff Psychological Well-Being Scale, which is a widely used to measure of psychological well-being.

The scale examines six aspects of psychological well-being: autonomy, positive relations with others, environmental mastery, personal growth, purpose in life and self-acceptance.

Superagers scored a median overall score of 40 in positive relations with others while the control group scored 36 -- a significant difference, Rogalski said.

My husband and I have a great relationship, except for the fact that he responds to every argument with the silent treatment. He stops speaking to me, sometimes for days. This is very frustrating, because I usually forget about arguments the next morning while he holds on to them and thinks about every little thing for a lot longer than necessary. I don't think this is healthy in the long run. I have asked him why he behaves like this, and he doesn't have a good reason because he says he can't even explain it himself. We are planning to have a child, and I would like him to address this, because I can't imagine how a child will react to this sort of behaviour. What should I do?
It's good that you have a great relationship, and that he admits to not understanding why he behaves the way he does, because it means he is ready to do what it takes to make this work. I also think it's good for you both to address this before having a child. Have you asked him to consider speaking to a therapist? Depression can take a number of forms, which isn't to say your husband is depressed, but it's always good to get a professional's opinion because identifying the source of a problem is the first step towards finding a solution. I suggest you both speak to a counsellor as soon as possible. This isn't a serious problem, but getting an outsider's opinion will help.

I don't know why my boyfriend watches as many violent movies as he does. I am worried about the effect they may have on his personality. Should I stop him from watching them?
Assuming he is not a child, I'm not sure how you can forbid someone from watching something. There are a lot of awful things one can be influenced by, but only if one chooses to be. Go by his actions, not his fondness for these films.

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The BRICS countries – Brazil, China, Russia, India, and South Africa – closed out a recent summit with an agreement on supporting one another, and developing nations, with tackling tax evasion and plugging opportunities for tax avoidance.

The US-based National Bureau of Economic Research has released a new report that looks at which countries' taxpayers have the most wealth stored in so-called "offshore tax havens."

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

She has inherited an economy facing a number of risks.

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

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

The data released on Friday was disappointing at different levels.

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

A look at key macroeconomic indicators presents a gloomy picture.

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

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

GDP Growth Slips to 5-Year Low

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

The signs of slowdown are visible throughout the economy.

Growth of Core Sector Industries Remained Flat

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

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

8 Core Sectors Report Flat Growth in FY19

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

Manufacturing and Services Sector Activity Decelerates

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

Worries Rise as Factory Output Shrinks in March

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

What Does the PMI Say?

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

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

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

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

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

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

Indian Service Sector Loses Momentum Too

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

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

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

One such high frequency indicator is automobile sales.

What do these numbers indicate?

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

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

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

Automobile Sales Skid as Demand Remains Sluggish

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

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

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

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

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

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

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

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

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

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

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

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

• Better infrastructure will mean better connectivity to non-metros. This will attract manufacturing companies to set shop in these towns. It will give a boost to the urbanisation of the population.
  
  This is a trend I see clearly playing out in the coming years.
  
  Infrastructure spending -> Improved roads -> Increased two-wheeler sales.
  
  It is just one of the 50 irreversible trends I believe will carry the Sensex to 1,00,000.

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

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

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

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

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

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

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

Warm regards,
Rini Mehta

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

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

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

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

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Binge watching has become the most common activity in the Coronavirus-forced lockdown. Mumbai's India all-rounder Shivam Dube is no different than the rest but his choice is rather unusual.

Dube, 26, who was drafted in the Indian team in place of injured Hardik Pandya (India v Bangladesh T20I series in November 2019), has been watching India's World Cup title campaigns spearheaded by MS Dhoni, for motivation.

India lifted the inaugural World T20 trophy in 2007 and the 50-over World Cup in 2011. "To keep my mindset healthy, I am watching India's two World Cup titles. They inspire me and provide me a pathway for what I can do for my country in the future. It keeps me motivated," Dube told Sunday mid-day on Saturday.

All-rounder Shivam Dube (right) with father Rajesh, mother Madhuri and sister Pooja at their Andheri East residence on Saturday

"I watched the 2011 ODI World Cup final many times because I am confident India can do it again [in 2023]. I also watched the T20 World Cup games several times. I think India are the best team in any format. I am sure we can win these two World Cups again," said Dube, who has featured in 13 T20Is and one ODI. Dube is working hard on his fitness at his Andheri East home. He was part of the Royal Challengers Bangalore team in the last IPL, where he scored 40 runs in four games. He was looking forward to playing the IPL again but it has been indefinitely suspended.

"I am missing everything of the IPL. It's difficult but we don't have a choice. We have to stay home and fight the virus," remarked Dube. But there are positives: "I am with my family after a long time, so I am helping my mother, father and sister as much as I can with household chores. I sometimes help my mother with cooking and cleaning. This also helps in bonding."

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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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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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England fast bowler Stuart Broad said that the UK government will have a big role to play in dictating the return of cricket in the country post the coronavirus pandemic. Broad however said that he personally does not feel nervous about playing whenever he is needed to.

"Cricket will literally be governed by the government. It's not as though the ECB (England and Wales Cricket Board) are going to have to be lone wolves and decide when we get back out there," Broad is quoted as saying by Daily Mail.

"The government will give the go-ahead and then us players will have to make sure we are in the physical capability to get match fit. I know how I feel about not seeing live sport and I know how much joy live sports brings me. So the players' responsibility is to make sure we are ready to go at the drop of a hat," he said.

Manchester City forward Sergio Aguero had said that many footballers were nervous to get back to playing because of the threat of the virus. Broad however said that he trusts medical staff fully and is not nervous because of that.

"I know everyone feels very differently about this. Sergio Aguero has been talking about how nervous the players would be. Personally, I wouldn't be," said Broad.

"I have huge faith in our medical team at the ECB. I have known Nick Peirce, the chief medical officer, for a long, long time and I have full faith in what he and his team believe is right for cricket.

"Yes, we all want to see cricket being played whether it is behind closed doors and just on TV or in front of spectators. And I know that the England doctors I've worked with over a long period of time would not cut corners to make it happen.

"So if one of Nick or Gurjit Bhogal, our current England team doctor, rings and tells me 'I think this is a good way to do it,' I will 100 per cent trust what they are saying."

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Australia can deal with the challenge of getting teams into the country for the T20 World Cup but whether it is worth having the tournament in empty stadiums is the main point for consideration, feels sports minister Richard Colbeck. Travel restrictions and question marks over how long it would take to contain the COVID-19 pandemic has put the future of T20 World Cup and India's tour of Australia in doubt. Cricket Australia is staring at a staggering loss of 300 million Australian dollars if things don't go ahead as planned.

"I'd love to see an Australia-India Test series this summer and I'd really like to be able to see the World Cup go ahead "... the issue is not so much the teams as the crowds and that's probably one of the hurdles we really have to consider and probably one that world cricket will look at pretty closely as well," Colbeck told SEN Radio on Monday. He said logistics of hosting the event in the post COVID-19 world can be dealt with. "We all know the difference in atmosphere ... but in a team sense I'd like to think that we can build some protocols with the cooperation of the sport and the players, that's going to be extremely important, with appropriate quarantine and bio-security protocols to see if we can make the competition go ahead."

While T20 World Cup is scheduled for an October 18 start, India's tour of Australia will begin with a T20 tri-series in October and end with a four-match Test series in December. The legendary Allan Border has said it would defy belief to host a World Cup without spectators, while Australian all-rounder Glenn Maxwell and some other cricketers have also expressed similar sentiments. The International Cricket Council recenly said that preparations were still on for the 16-team tournament and a final decision will be taken by August.

Australia is considering making travel exemptions for the Indian team's tour Down Under to save the cricket board for the financial loss but Colbeck said they need to be careful in expanding exemptions to other nations for the T20 World Cup. "Those conversations are being had, discussions about what the protocols might look like," Colbeck said. "They will be difficult because one of the things that has been a key part of our success is that we limited access to Australia from areas where there were significant outbreaks of Covid-19 and that's contributed to the low rate of spread we have now. "But we would have to be prepared to consider appropriate plans put forward by the various codes."

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England star all-rounder Ben Stokes will run his first ever half marathon on Tuesday to raise funds for the National Health Services (NHS) Charities Together and national children's cricket charity Chance to Shine. The 28-year-old all-rounder who admitted that the longest he had ever run was 8 km, will be running a half marathon near his home. "A half marathon is always been something that I've thought about doing a but never really got around to overdoing it. Obviously we have been in lockdown so I thought what a great option to go out and if I'm going to do it I might as well try and raise some funds for a good cause," Stokes said in an Instagram video.

Stokes got inspired by the efforts of three men who ran full marathons in their back gardens over the weekend. "I will be hopefully inspiring people to make some donations towards the Cricket Garden Marathon, I'm just trying to add some more funds to what they've managed to do for the great cause," said Stokes. "I've done absolutely no training, the longest distance that I've ever run is 8 kilometres. So, I don't even know I'm going to be able to complete it but hopefully, I can," he added.

The left-handed Stokes on April 8 became the first English cricketer since 2005 to be named as Wisden's Leading Cricketer in the World. In 2005, Andrew Flintoff was named as Wisden's Leading Cricketer of the Year.

The year 2019 proved as an instrumental year for Stokes as he played a key role in England's first 50-over World Cup win and then he went on to play a memorable inning against Australia during the third Ashes at Headingley.

Also, the English all-rounder was named as ICC's cricketer of the year in January 2020.

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Help continues to flow for virtually out-of-work cricket groundsmen in the city knocked down by the Coronavirus-caused lockdown.

Former Mumbai left-arm spinner and current Mumbai under-19 coach Rajesh Pawar, a product of maidan cricket, was at Shivaji Park on Thursday, distributing grocery packets to 16 groundsmen. "I spoke to a few of them over the phone, learnt about their situation and decided to do something about it. It's a small help from my side," Pawar told mid-day.

"I got a lot of calls after my friend Mandar Phadke [ex-Mumbai batsman] posted a picture of me distributing the packets on social media. Some said they are willing to help and I think we should all come forward to help the groundsmen and needy persons in this crisis," remarked Pawar. Each groundsman got four kilos of rice, a kilo of tur dal, two kilos of sugar, one litre of cooking oil and 250 gms of tea powder.

Mumbai Cricket Association (MCA) Apex Council member Nadim Memon also distributed groceries to groundsmen at Dadkar Maidan in Matunga, Azad Maidan, Cross Maidan and Oval Maidan. He also provided them financial assistance. Memon handed out cooking oil, wheat and other essentials that will last the groundsmen a month.

Meanwhile, a group of match officials headed by former Mumbai Cricket Association (MCA) managing committee member and BCCI umpire, Ganesh Iyer, who has been providing financial assistance to umpires and scorers ever since the lockdown began, helped a further 32 officials with Rs 1,500 each. Last month, 62 needy individuals (47 umpires and 15 scorers) were given Rs 3,000 each. Financial help in two more installments were granted to needy umpires and scorers apart from groceries. According to Iyer, the total expenditure towards this cause is around R4,78,000. "We thank all our contributors. Without their benevolence and support, we could not have done our bit," said Iyer.

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Thousands of people on Saturday defied the countrywide lockdown to attend the funeral of a Muslim cleric in Bangladesh, triggering fears of rapid spread of the Coronavirus pandemic.

The news media in Bangladesh reported that thousands of people, without masks and in clear violations of social distancing, participated in the funeral prayers of Khelafat Majlish's 'Nayeb-e Amir' Maulana Zubayer Ahmad Ansari, held at a madrasa in Bertola village under Sorail Upazila of Brahmanbaria district. The cleric had passed away at his home last night.

The gathering was large and the authorities did not stop it, media reports said. Noted Bangladeshi author, Taslima Nasreen, who lives in exile in Sweden, tweeted that 50,000 people had attended the funeral prayers, defying the ban on mass gatherings during the lockdown. "Stupid government didn't even try to stop these stupid people," she tweeted.

Like many other countries where religious congregations are turning out to be a major multiplier in the pandemic, the Saturday funeral gathering could become Bangladesh's hotspot for the outbreak. So far, over 2,100 people have tested positive and 84 have died due to Coronavirus in Bangladesh.

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In a viral video that left the internet in splits, a dog exposed the owner's fake handstand pose. The video that went viral on Facebook shows a woman pretending to do handstand by lying down and pressing her hands against the wall, while a man on a chair reading a newspaper is seen sitting besides her.

The nearly-perfect clip seemed convincing until the act was exposed when a dog made an appearance in the picture. At that point, the viewers realised that the man and the woman were simply lying on the floor and the handstand pose was created by tweaking the camera angle and successfully tricking people into believing that the pose was legitimate.

Paulinho Martins, who posted this video on Facebook on Tuesday, said in the captions, "Everything was going well, until the dog ruined everything." The video has received over 6.1 million views with more than 48,000 likes and was shared over 225,000 times.

Amid hilarious reactions, users commenting on the post said that they would love to try it out with their friends while one user commented, "Is that spiderdog?" Another user said, "It is not that bad to cheat, well done!" while one more comment read, "It is absolutely obvious, when he touched his glasses. Newspaper fell on him."

What do you think of the video?

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Keeping calm and focused towards the task in hand is a recommended recipe for success. A journalist from US is being lauded for doing the same. News reporter Kirsten Welker was reporting a live event and remained unfazed even after dodging two light stands that fell near her becuase of strong windy conditions.

Welker wearing a mask was reporting live from Washington DC on a windy day when two tall lighting fixtures fell near her. However, she calmly dodged the falling stands and continued with her reporting, which has impressed netizens across the globe. Ever since the clip went viral, Welker is being hailed as a legend and received several appreciating comments for her commitment.

With many people sharing the clip, even Welker responded to comments she received in a witty manner. When a sports news website shared the clip saying, “First-round pocket presence”, here’s how she responded:

Put me in, coach!

cc: @Eagles https://t.co/OF3IaULCv2

— Kristen Welker (@kwelkernbc) April 22, 2020

The clip that has received more than 1.4 million views and over 23,600 likes on Twitter was retweeted more than 3,600 times. Users commenting on the video posted about how Welker handle the situation with presence of mind.

“If you can dodge a light stand you can dodge a ball”

— Robert Kurhajetz (@rkurhajetz) April 22, 2020

Legend!

— Jesse Jones (@JesseKIRO7) April 23, 2020

That looks like a scene from a supernatural thriller! Bravo Kristen!

— Roger Clark (@RogerClark41) April 22, 2020

Handled like a BOSS! Booyah!

— SRH (@Bijouxforu) April 23, 2020

She didn’t miss a beat. 👍🌟

— C Colcombe (@ColcombeL) April 22, 2020

pic.twitter.com/FYs4vXJVqV

— Watch Dog (@Usefulnotes_) April 22, 2020

What do you think about the video?

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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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Australian flag carrier, Qantas on Tuesday extended international flight cancellations till the end of July, but said that it was in a strong position to endure disruptions caused by the COVID-19 pandemic.

The company said that domestic flights would be cancelled till the end of June and international services until the end of July, adding that domestic and trans-Tasman services could be quickly reinstated should restrictions ease in coming weeks, reports Xinhua news agency.

"Australia has done an amazing job of flattening the curve and we're optimistic that domestic travel will start returning earlier than first thought, but we clearly won't be back to pre-coronavirus levels anytime soon," Group CEO Alan Joyce said.

"With the possible exception of New Zealand, international travel demand could take years to return to what it was."

The company, which includes budget branch Jetstar, also revealed it had secured a further A$550 million ($354 million) in debt funding, placing it in a stronger position to endure the COVID-19 crisis.

According to Qantas, by reducing expenditure and borrowing against its fleet of aircraft, the company could survive several recovery scenarios, including one where current travel restrictions persisted until December 2021.

The reduction in expenditure is largely due to the standing down of more than 25,000 staff who were forced to use leave entitlements before receiving delayed financial assistance from the government.

"The impact of this stand down is deeply regrettable but has been greatly softened by the Australian Government's JobKeeper program, which the Group commenced paying several weeks ahead of the official payment start date," the airline said in a statement.

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[Source: Research & Innovation] The Danish island of Bornholm is the first ever winner of the EU RESponsible Island Prize. The Danish island won the title in recognition for its innovative energy solutions and its contribution to a sustainable and climate-friendly Europe, the European Commission announced today. The second prize went to the island of Samsø, also in Denmark, and the third prize to the Orkney Islands in the United Kingdom.

[Source: Research & Innovation] Illegal fishing destroys marine habitats and threatens species living at sea. An EU-funded project is helping authorities to crack down on these operations by developing the world's first seabird ocean-surveillance system.

India has again extended the due date for furnishing the annual GST return and reconciliation statement for the 2017-18 fiscal year.