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Fashionistas Chill Out at Pepsi®'s Glam Lounge During Fashion Forward Dubai - Pepsi at Dubai Fashion Forward 2016

Pepsi at Dubai Fashion Forward 2016




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EPILEPSY FOUNDATION LAUNCHES “TALK ABOUT IT!” PUBLIC SERVICE ANNOUNCEMENT FEATURING ACTOR GREG GRUNBERG, ENCOURAGING AN OPEN DIALOGUE ABOUT EPILEPSY - Talk About It! PSA with Greg Grunberg

Talk About It! PSA with Greg Grunberg




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Fashionistas Chill Out at Pepsi®'s Glam Lounge During Fashion Forward Dubai - Pepsi at Dubai Fashion Forward 2016

Pepsi at Dubai Fashion Forward 2016




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FEMA, NWS Urge Families and Communities to Take Steps to Prepare for Hazards - Get Prepared with Bo and Sunny

Get Prepared with Bo and Sunny. Links to download these videos can be found in the Resources section, below.







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EPILEPSY FOUNDATION LAUNCHES “TALK ABOUT IT!” PUBLIC SERVICE ANNOUNCEMENT FEATURING ACTOR GREG GRUNBERG, ENCOURAGING AN OPEN DIALOGUE ABOUT EPILEPSY - Talk About It! PSA with Greg Grunberg

Talk About It! PSA with Greg Grunberg




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Trade groups representing PepsiCo, Procter & Gamble and others want guidance on factories from Pence

Trade groups representing the country's biggest consumer companies, including PepsiCo, Procter & Gamble and Clorox, wrote a letter to Vice President Mike Pence on Thursday urging federal guidance on how to safely manage their factory workers as states begin to reopen for business.




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Klobuchar, Warren urge FTC to take more steps to help small businesses avoid coronavirus scams

Amy Klobuchar and Elizabeth Warren raise concerns about scammers taking advantage of business owners seeking aid during the coronavirus.




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Chevron says results will be 'depressed' as long as oil stays low, takes steps to protect dividend

The company reiterated that its dividend is a priority, and that it's taking action to sustain it over the long term.





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Penn Games CEO on steps it will take to reopen casinos

The Nevada Gaming Commission has just set guidelines for casino reopenings. Jay Snowden, Penn National Gaming CEO, joins 'Power Lunch' to discuss their guidelines for reopening and partnership with Barstool.





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How to understand Covid-19 antibody testing in 10 steps

Inaccuracies in the testing, such as false negatives and false positives, are potentially harmful

Continue reading...




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Navi Mumbai: 87-year-old keeps the hills and his family legacy alive

Keeping the legacy of his father and uncle alive, T N Ganjoo, 87, climbs hills in Kharghar every day, armed with 10 litres of water and the determination to see a wave of lush greens on the hillside. On Sunday, Ganjoo planted 100 seed balls on the hills to celebrate Father's Day.

Ganjoo, a retired professor, recently moved to Kharghar. He began going to the hills after he saw a woman carrying a big bag there. He asked her what she would do with its contents, and learnt that she would use it to plant on the hillside. Soon enough, he joined her too.

Back to childhood
This activity takes the Kashmir native back to his childhood, which was full of beautiful green mountains. He missed that greenery in the concrete environs of the city, and thus began planting trees on barren hills. "But today, I see how those beautiful places have become barren due to human activities," Ganjoo told mid-day.

"I have a habit of climbing hills since childhood, because of which I'm fit. For the past year, I carry 10 litres of water on my back and climb the hills, because I want to see them streaked green. My group and I have planted more than 500 saplings. We water them daily."

Spread the word
"So many people have joined us. I spread the word to everyone who I meet, especially youngsters. They need to understand the importance of greenery. The government authorities are not thinking about it, because of which next generation will end up facing so many problems. I think my act will encourage people to try to make a greener society."

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





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Daniel Weber on Sunny Leone: She sleeps all day, her cooking sucks

Amid this lockdown, a lot of people have been quarantined together and they are either sharing their cooking videos, workout videos, or Instagram chats. Sunny Leone and Daniel Weber have gone a step ahead and done something different. The wife is in revenge mode and the husband needs help. At least her latest Instagram video suggests so.

In the video, we could see a shirtless Weber and he could be seen holding a number of placards that only indicated how desperately he wanted our help. His placards read- "Help me! She is driving me crazy. She sleeps all day, her cooking sucks, she"s so lazy, she lives in pyjamas, she takes selfies all day."

Have a look at the video right here:

 
 
 
View this post on Instagram

Hmmm...just saw this! Tomorrow I will show you what @dirrty99 is really doing all day! REVENGE!! It’s on!

A post shared by Sunny Leone (@sunnyleone) onApr 19, 2020 at 12:06pm PDT

Now, all we have to do is wait and see how does she extract her revenge on her husband! The actress is also having a lot of fun during this lockdown and she keeps uploading her fun videos that her fans are clearly enjoying. We are now waiting for the next one!

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

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Priyanka Chopra Jonas on Earth Day: Earth keeps us connected

Sharing two happy selfies on Instagram, actor Priyanka Chopra Jonas extended Earth Day wishes to during late hours of Wednesday.

In the post, the actor pointed out how the entire humankind on the planet is apart yet connected with each other through Earth.

The 'Quantico' actor posted two pictures of herself on the platform where she is seen wearing a black and white printed floral shirt.

"We may be apart right now, but Earth keeps us connected. This is our home. Let's heal Mother Earth together. #EarthDay #EarthDayEveryDay," she captioned the post.

The 37-year-old actor is currently staying indoors with her singer husband Nick Jonas in the United States.

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

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

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




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Keep it cool like Ahan Shetty this summer; get this look in five steps

Suniel Shetty's son Ahan Shetty was snapped at a coffee shop in Bandra, Mumbai. The star kid was all smiles when clicked by the paparazzi in the city. While on the stroll to the city with a friend, the actor, who is all set to make his Bollywood debut with Milan Luthria's next, showed off his uber cool side. 

"RX 100 caught our attention amongst many other scripts. But this story stood out since the film has been appreciated. The idea was to provide Ahan with a film that is gripping and entertaining. We were looking for a complete package. It's in the space of action-drama, a genre I wanted to tap into," said Milan Luthria in an old interview with mid-day. 

Take a look at his casual outfit right away:

White t-shirt: 

Buy a basic white t-shirt at the discounted price of Rs 315/- and be that cool fashionista of your group. You can get it in a few easy steps. Shop here

Blue denim:

No matter how many denims you buy, they are always a few. Get Diverse Men's Relaxed Fit Jeans at the discounted price of Rs 589/- only. Shop here

Checkered shirt:

Look stylish in a checks casual shirt. Buy it at the discounted price of Rs 699/- only. Shop here

Boots: 

Buy Brown Leatherette Zipper High Ankle Length Casual Chelsea Boots at the discounted price of Rs 399/- only. Shop here

Also Read: Gauri Khan's airport look will give every woman fashion inspiration; see photos

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Watch baby Olive Ridley turtles take their first steps into the Arabian Sea


Baby Olive ridley turtles all set to embrace the sea in Velas.

Turtles - female Olive ridley turtles in particular - have a phenomenal memory. In their lifespan of about 50 years, where they swim for thousands of miles in the underwater world, they never forget one route. The females return to the same beach where they hatched to give birth to new life. The creatures are also communal in nature - they arrive at their native beach in thousands to lay eggs. The phenomenon, which makes for a stunning sight, is called Arribada.

Inhabitants of warm waters, the species has two haunts on the Indian coastline: Rushikulaya in Odisha and Velas in Ratnagiri. Over the years, Olive ridley turtles have borne the brunt of human activities and are now recognised as vulnerable by the International Union for Conservation of Nature Red List. Conservation measures have been underway to ensure the eggs hatch in a conducive environment and the hatchlings safely take their first steps to the sea. If Arribada has piqued your interest, a two-day eco-tour organised by Mumbai Travellers will take you to the Velas beach where you can watch the phenomenon unfold before your eyes.

"The baby turtles trek to the sea in early mornings and evenings, so we take travellers straight to the beach as soon as we arrive in Velas," shares Karishma Joshi, eco-tours division head of the travel group. The trip includes a visit to the Bankot Fort and Harihareshwar. "In the evening, travellers will be taken to conservationist Mohan Upadhye's home, where they will watch a documentary on the turtles. This will be followed by a skit presented by local children on turtle conservation," shares Joshi.





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Five Feet Apart Movie Review: In the footsteps of Fault In Our Stars

Five Feet Apart
U/A: Drama romance
Director: Justin Baldoni
Cast: Cole Sprouse, Haley Lu Richardson
Ratings: 

Justin Baldoni's film latches on to cystic fibrosis (CF) for its cause, and makes two teens go through the motions of suffering from the disease to develop its romance and effect. CF is a disease that makes its victim struggle for every breath. Those suffering from it rarely survive beyond the age of 10. So, of course, go ahead and blame advances in modern medicine for allowing the two protagonists to live on as teenagers.

They obviously can't risk any infection, and more so from the disease's fellow-sufferers, who are considered high-risk. At all times, they are meant to be separated by latex gloves; no touching, and six feet between them, at all times. The villain here is the disease; not parents or society.

The first rule to be violated is that of the distance. It conveniently becomes five feet, at the heroine's suggestion. Though the film's main premise is about keeping the protagonists interested and engaged in each other, despite their restrictions, it takes plenty of liberties while trying to establish their connect. They even break away from the hospital's restrictions and risking death when heading on a freakish date in snowy conditions. While they cavort in the snow with no care, viewers hold their breath watching their tragedy unfold amidst compulsive melodrama.

Stella (Haley Lu Richardson) treats the hospital as her second home. She is aware of her disease, stays strictly within her regimen, and looks forward to extending her life (through a lung transplant that offers her five years) while carrying the hope that a new cure may be developed. Her best friend Poe (Moises Arias) is back in the hospital and has his own relationship problems to grapple with. Will (Cole Sprouse), another teenage CF patient, receives an experimental drug to take care of his B-cepacia infection. While Stella is hyper-cooperative with those treating her, Poe and Will cope differently. Will, a cynic and rebel, is persuaded by Stella to keep up with his regimen. Of course, you know where this is going to end, but Baldoni lays on a few surprises along the way.

The director may have gotten his inspiration for this film from his documentary titled My Last Days, about the terminally ill. Reportedly, screenwriters Mikki Daughtry and Tobias Iaconis developed it further while Rachel Lippincott churned it into a best-selling novel later. Baldoni kick-starts the narrative with no-nonsense flair, zooming in on Stella and her friends as they party before she must return to her dreaded hospital routine.

Baldoni and cinematographer Frank G DeMarco keep the narrative bright and cosy, straying away from medical restrictions to chart a course that has the young hopefuls straining at every bit. The production design makes the setting look luxurious; unlike regular hospital set-ups. The actors are amiable; able enough to gather empathy without going heavy-duty about their woes. This is a genre flick meant to ply on your sympathies and does the job efficiently.

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





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India Post steps in to help Madh Islanders facing cash shortage

India post – a subsidiary of the Ministry of Communications – stepped in to help the residents of Madh Island, after a report in mid-day highlighted their plight regarding cash. They had been plagued by dysfunctional ATMs since the national lockdown was announced due to the COVID-19 pandemic. But very few transactions were successful, since most residents didn't have their active mobile numbers linked to their Aadhaar cards — which is a must for availing the service.

After reading mid-day's April 26 report, India Post sent a team of three postmen to the area on Monday, to provide door-to-door cash withdrawal services — at no extra charge — via their mobile phones. Using their government-authorised mobile phones, these postmen helped residents withdraw money from their bank accounts and handed the cash to them—provided their bank accounts and active mobile phone numbers were linked to their Aadhaar accounts. Although a handful of residents were able to carry out successful transactions, a majority of residents could not avail the service since either their active phone numbers were not linked to their Aadhaar cards or their bank accounts.

One postman = 1 micro ATM
Speaking to mid-day, Saranya U, senior superintendent of Post Office of Mumbai North Division (under whose jurisdiction Madh Island falls), said that each of the postmen deployed for this service is equipped with government-approved mobile phones that are pre-loaded with the India Post Payment Bank (IPPB), as well as a biometric scan device that can be connected to the mobile phone. "For us, each postman acts like a micro ATM. Using their mobile phones, each of them could enable people to withdraw up to R50,000 from their bank accounts," she said. This limit was extended from R10,000 to R50,000 in the light of the COVID-19 situation.

She explained that a person had to simply run their biometric fingerprint scan through the device connected to the postman's mobile phone (Aadhaar requires thumbprints to cross-confirm). "If a bank account has been linked to the Aadhaar account, then money can be withdrawn from that account. The person's current active mobile number is also required since an OTP will be sent to it. Another step also includes authenticity confirmation from UIDAI," she said.

If all these criteria are fulfilled, people can withdraw money from the comfort of their homes. "However, we were able to distribute only R11,000 in total because most people either don't have their Aadhaar or active mobile numbers linked to their bank accounts. We carried out a total of 25 transactions, but only 4 of them were successful," said Saranya, adding that India Post's door-to-door cash withdrawal service is more popular in rural areas.

'It was easy'
India Post also reached out to Manisha Suryavanshi, a resident who is disabled with polio in a leg, and was mentioned in the mid-day report. "I was surprised to see them. They ran me through the entire process… and I got the amount instantly in my hands. I also received a debit message on my mobile phone…it was easy and we were not charged for the service," she said.

4
No. of successful transactions

25
No. of total transactions attempted

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

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COVID-19 in Mumbai: Businessman's OPD cabin keeps doctors safe from infection

While many doctors have been complaining about the non-availability of safety equipment when they examine COVID-19 patients, a businessman has come to their aid by creating a cabin for such examinations, where they need not use PPEs.

The 38-year-old Vile Parle-based man has created an 'OPD' cabin that is divided into two sections for the doctor and patient. The doctor can examine the patient without using a mask or PPE as she/he does not come into direct contact with the patient, and can immediately sanitise the cabin after this. The businessman, Jatin Shah, gave one of the cabins free of cost to the Balasaheb Thackeray Trauma Care Centre at Jogeshwari last week, and every day doctors examine at least a 100 people in it.

Shah is involved with the aluminum industry and has used the material and glass to make the cabin. He has also donated 40 cabins to the Maharashtra, Goa and Karnataka governments to examine people at the states' borders.

Shah said, "I saw many videos on social media about the challenges doctors have been facing while treating COVID-19 patients. So I decided to invent something that would help them. Within two days I created this cabin and gave it to the Jogeshwari-based trauma care centre free of cost with the help of an NGO."


Jatin Shah, the businessman

Shah said, "At the borders, 4-6 hours after testing when the report comes, if a traveller is found to be COVID-19 positive, doctors send her/him to hospital and if any patient is found negative, she/he is allowed to enter the state. I took the help of Wipro general electric, which finalised the design of this cabin and asked the Seva trust in Mumbai to contact the hospital and get the cabin approved," Shah added.

Doctor speak

"The cabin is really useful. We sent our four labourers to Shah's factory to help him construct this cabin. We also issued a letter to him from hospital superintendent Vidhya Mane. Within two days he manufactured it and gave it to us," said Dr Rangnath Jawhar of Balasaheb Thackeray Trauma Care Centre.

Features of the cabin

The cabin is 8X4 ft and divided into two spaces separated by glass. One section is used by the doctor and the other by the patient. Screening equipment including a digital thermometer and a fever gun kept inside. Both sides have a mike and speaker. A 20 lt tank stores disinfectant which gets sprayed inside

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'She keeps calling me...'

Dear Diana,
I met this girl last month at a party. She was introduced to me through a common friend. We exchanged numbers, but I did not give much thought to it. She was just one among the several people I met at the bash. In fact, I forgot about her. A week after the bash, I get a SMS from her. She then sent me some snapshots of the party on WhatsApp. As they were group photos, I could not even recall who she was. She then sent me a solo snapshot of herself. That night, we were all high and I could not even recall who I met at the event. So, I just told her that I remembered her and that we had a great time at the party. Ever since, this girl has been hounding me with calls and messages. She is keen to meet me for some business deal. I know this is just an excuse to get to know me better. I am not the least interested in her. How do I tell her to stop calling and texting me? I often do not reply or tell her I am busy and will catch up with her at a later date, but she just does not give up.
— Avinesh

Dear Avinesh,
She has been bombarding you with calls for some business deal. May be that is the reason, but you feel she is interested in you. One way to get her off your back is to ask her what the deal is about. If it is a genuine business proposition, she will tell you. If not, then you know what is on her mind. By avoiding her calls and telling her that you will meet at a later date, you are sending mixed signals. Just tell her clearly that you are not interested, if you think she is pursuing you. You are not being forthright with her so she is unsure what is on your mind. Tell her the truth. You have no feelings for her nor care for her — so what is stopping you from clearly expressing what is on your mind?





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'My wife keeps the house messy...'

Dear Diana,
I work in a multinational company and I have to put in long hours at work. My wife chose to quit her job after our wedding since she thought one of us needs to take care of the house. However, I am constantly appalled at the way she keeps the house. It is always messy and sometimes downright dirty when I enter the home after a long day at work. I tried talking to her about the cleanliness and hygiene part, but she snaps back at me saying she doesn’t get enough time. But I see her lazing all the time. What do I do? Please help.
— Nishant Khare

Illustration/Uday Mohite

Dear Nishant,
Different people have different ideas about cleanliness and hygiene. Perhaps because of the way they have been brought up. You should have had a clear communication with your wife about her duties before marriage. Even now you can sit her down and explain to her about what you expect from her. Since you work hard to make sure that her financial needs are met, it is only fair that you expect her to work enough to keep you happy at home.

If she resists, how about hiring a maid to do the cleaning work? Not every woman can be expected to be house proud and take pride in sweeping and swabbing. Your wife might be having other hobbies. If hiring a maid is an extra financial burden you can put down certain basic rules gently to your wife. If she loves you enough, she is bound to bend a little.





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Bobby Deol on younger son Dharam: He has a six-pack already and keeps challenging me to try new things

Bobby Deol is not only a brooder but also one of the youngest-looking fathers in Bollywood. He looks way younger than his actual age and doesn't really look like a father of two boys- Aryaman and Dharam. He spilled the beans on them in a recent interview with Mumbai Mirror and got candid.

Talking about Dharam first, he said, "Dharam is completely into fitness. He learns new techniques online and teaches me. I wish I had the access he does at his age. He has a six-pack already and keeps challenging Tanya and me to try new things. I have to tell him I'm not that flexible anymore." Well, if the kid has indeed built six-packs, we would love to see them soon. Here's hoping Deol posts a picture of his ripped body on social media.

And then talking about Aryaman and how they both were able to meet luckily before the lockdown was announced. "Luckily, Aryaman came home a day before Holi without hassles or travel restrictions." The duo celebrated the actor's 51st birthday in the U.S earlier this year in January. Deol will be completing 25 years in Bollywood this year, having started off his career in 1995 with Barsaat.

He went on to deliver hits like Gupt, Soldier, Ajnabee, and Humraaz in his career. After a slump, he jumped back with two massive films in 2018 and 2019- Race 3 and Housefull 4. He now has Netflix and Red Chillies Entertainment's Class of 83 coming up soon.

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Coronavirus Lockdown: Nagpur Police steps in as orphan bride's family, wins hearts on Twitter

In a heartwarming gesture, Nagpur Police stepped up to stand in as a orphan bride’s family on her wedding day after her relatives could not attend the ceremony due to the restrictions imposed as part of the nationwide lockdown due to the coronavirus outbreak.

The officers of the police department showed up for the wedding to bless the couple so that the bride does not miss her family on her special day. They shared a post about the moment on Twitter with the photo of the newlyweds with officers. The post said that the bride’s parents had died and her relatives could not attend the wedding due moment restrictions.

“The bride's parents had passed away. There was no one from her family to attend her marriage due to movement restrictions. #NagpurPolice tried to fulfill this absence.PI and staff were present to bless the newly wedded couple at #Nagpur,” said the tweet by the police, with the hashtag #alwaysthereforyou.

The post that went viral on Wednesday garnered 757 likes and was retweeted 81 times and counting. Users commenting on the post praised the Nagpur police for their noble deed.

What do you think about the post?

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Boston Legal actress Lake Bell's five-year-old daughter has epilepsy

Boston Legal actress Lake Bell's five-year-old daughter has been diagnosed with epilepsy.

Bell and her husband Scott Campbell, discovered the news a few months ago but the actress has just come to terms with the diagnosis, reports aceshowbiz.com.

She wrote on Instagram: "My daughter has epilepsy. It's taken me a few months to gather the courage to post about it because I do not want to endorse it's existence."

"I also didn't know why I should share it. Why tell a bunch of strangers? however in a time where we are so isolated I crave community. We all do. We want to be reminded we are not alone in any reality.

"And above all, I am grateful... Grateful to have a partner in @scottcampbell who, with his research and smarts, is giving these seizures a worthy adversary. Scott and I, along with the care of the incomparable @childrensla, will conquer them."

She added "For Nova... so she doesn't have to cry in fear after she gets sucked into one. They are like invaders, that come on without invitation nor warning. We will fight for Nova. For her future. For tomorrow. For today."

Bell said it's the beginning of a "long journey and I want/need to remember that I am not alone. And if you are dealing with a loved one with epilepsy, I get it... You are not alone."

Catch up on all the latest entertainment news and gossip here. Also, download the new mid-day Android and iOS apps.

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

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




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Taapsee Pannu reveals she is enjoying her stay at home, keeps sitting at her favourite corners

For many of us, this lock-down is turning out to be the longest break we've ever taken, from going out, or going anywhere for that matter. And for actors, it is a break with no 'work from home' which they are spending with family and loved ones. Taapsee Pannu is also making the most of it in her Mumbai house, along with sister Shagun Pannu.

Speaking to a leading daily, Taapsee opened up on how actors work so hard to have a house of their own but would barely have any time to spend there as they were always traveling for work. She added that she was reveling in her uninterrupted free time and would just sit at her favourite corners of the house.

Several cities including Mumbai and Taapsee's hometown Delhi, where her parents live, come under the red zone. However, the actor says she is relieved that her parents do not live around the hotspot zones, since they both are above 60 years in age and needed to be careful. She went on to add that her parents, one retired and another a house wife, did not go out much and hence weren't very severely affected by the lock-down.

Taapsee will be next seen in Akshay Kumar starrer Rashmi Rocket and Aanand L Rai's Haseen Dillruba.




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RBI Steps in to Take Some Pain Off Mutual Funds. Will It Help?

Posted by Equitymaster
      

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.

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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.

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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.

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

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




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Tax-News.com: BRICS Nations Affirm Support For BEPS Project

The heads of tax authorities from the BRICS states met in Mumbai, India, on December 5-6, 2016, to discuss the implementation of the OECD's base erosion and profit shifting project.




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Tax-News.com: Russia To Sign OECD's BEPS Convention

Russia will sign the OECD's Multilateral Convention to implement tax treaty-related measures to prevent base erosion and profit shifting, the Government announced on May 20.




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Lockdown Diaries: Smriti Mandhana sleeps 10 hours, watches movies, plays ludo, works out

Working out, washing utensils, watching movies and playing Ludo online -� these are some of the few activities which ace Indian batter Smriti Mandhana is indulging during the lockdown period in place as the country battles the coronavirus outbreak.

In a one-minute 38 second video shared by the BCCI, Mandhana has revealed her day to day activities in order to make sure how she makes the most of the lockdown period currently in place in the entire country.

She is working out as per the training schedule given by Team India trainer. "Staying fit is very important, so I am working out. I keep in touch with the trainer and receive the feedback. He keeps sending us (all Indian players) all the workouts that we need to follow."

"The other thing I like is spending time with my family. We love playing cards. I help my mother with cooking. I guess washing utensils has become a part of my daily routine. However, my favourite pass time is to trouble my brother," said the left-handed Indian batswoman.

"The third thing which is love is watching movies. I am a big movie buff. So, I make sure I watch two-three movies a week, not many because I don't want to get addicted. I want to spend time with my family.

"The best thing which I love doing the most at home is sleeping. I make sure I sleep for at least 10 hours to keep myself happy the entire day," she added.

The star Indian batswoman also urged people to stay indoors during the lockdown. "Stay home, stay safe and keep yourself physically and mentally fit."

India has been in lockdown since March 25, a step taken in order to stop the spread of coronavirus which has so far claimed more than 300 lives in the country. However, with an upstage in number of infected people, the lockdown is likely to be extended further after Tuesday.

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

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

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




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ICC keeps ball rolling for T20 World Cup amidst COVID-19 crisis

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

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

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

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

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

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

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




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Indian-American Democratic National Committee CEO steps down

Indian-American Seema Nanda has announced that she was stepping down as the CEO of the Democratic National Committee (DNC), it was reported. The Boston College Law School and Brown University grad, who took over as the DNC CEO in June 2018, succeeding Mary Beth Cahill, announced the move via Twitter on Friday, the American Bazaar reported.

"After two years, I will be stepping down as CEO of the DNC. I couldn't be prouder of the infrastructure we have built, the primary process we have run, and the team we have built. "I look forward to continuing the fight for our democracy and to elect Democrats everywhere," she added.

Nanda however, did not reveal the reason behind her decision nor did she announce her next move. During her tenure, Nanda worked closely with DNC Chair Tom Perez, managing the group's day-to-day operations.

The two had worked together at the Department of Labor during the former administration of President Barack Obama. Perez's term as DNC chair will end after the November presidential election. While accepting the position in 2018, Nanda described the job as "the opportunity of a lifetime".

Catch up on all the latest Crime, National, International and Hatke news here. Also download the new mid-day Android and iOS apps to get latest updates.

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

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




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Tax-News.com: India Adds BEPS Provisions To Qatar Tax Treaty

India has approved amendments to its double tax agreement with Qatar.




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Tax-News.com: EU MEPs Back New Direction For Taxing Aviation's Emissions

Members of the European Parliament have preliminarily agreed to continue with the aviation industry's current treatment under the EU's emissions trading scheme to allow for the development of a new industry-specific carbon tax arrangement.




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Tax-News.com: Luxembourg Ratifies BEPS Multilateral Instrument

Enhancements to Luxembourg's network of double tax agreements to mitigate base erosion and profit shifting will become effective from August 1, 2019.




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Tax-News.com: Swiss Gov't Approves BEPS Multilateral Instrument

The Swiss Federal Council has approved an OECD multilateral convention designed to prevent BEPS-related abuse of the international tax treaty system.




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Tax-News.com: Singapore, Germany Add BEPS Amendments To DTA

Singapore and Germany have signed a protocol to their double taxation agreement, which brings the treaty into line with international standards and amends the maximum withholding tax rates that may be charged.




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Tax-News.com: Labuan Urged To Adapt To BEPS By Removing Harmful Tax Offerings

Muhammad bin Ibrahim, the Governor of the Central Bank of Malaysia, has stressed the need for Labuan to review its international tax framework in light of the OECD's work on Action 5 of the base erosion and profit shifting project, on harmful tax practices.




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Tax-News.com: OECD Releases Mining Sector BEPS Guidance For Developing States

The OECD and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development have finalized three practice notes intended to support resource-rich developing countries to protect their tax bases from erosion and profit shifting.




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Tax-News.com: BEPS Project Has Triggered Near-Global Tax Reform: OECD

The OECD has committed to providing proposals to fix the taxation of the digital economy by 2020, in an update to G20 leaders on international efforts to mitigate base erosion and profit shifting (BEPS).




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Tax-News.com: OECD Fleshes Out Int'l Tax Reform Plans During BEPS Webcast

During a webcast on June 11, the OECD provided a technical update on its work to develop new, modernized international tax rules for the digitalized economy.




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Tax-News.com: Canada Ratifies BEPS MLI

On June 21, 2019, Canada ratified the BEPS multilateral convention, to introduce amendments to its network of tax treaties to prevent abuse.




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Tax-News.com: Italy To Support Armenia To Implement BEPS Reforms

Tax officials in Armenia are to receive support from the Italian Revenue Agency to implement initiatives to tackle tax base erosion and profit shifting.