Spanish drama Money Heist aka Le Casa De Papel on Netflix has quickly become of the most-watched shows on the streaming giant. From El Profesor to Tokio, fans absolutely love the characters. Bollywood Hungama recently shared the dream cast if Bollywood adapted it as a film.

During a recent interaction with Behindwoods, Money Heist director Alex Rodrigo was asked who would he select from the list of the Indian actors for the Indian version. Alex chose South superstar Thalapathy Vijay for the role of El Profesor whereas he said Shah Rukh Khan would be best suited for Berlin's role. He further said Ajith Kumar could play Bogota, Ranveer Singh as Denver. He wanted Mahesh Babu and Suriya to take on the roles Tamayo and Suarez. Thalapathy Vijay's fans trended 'Money Heist' in India on Thursday night on Twitter.

Created by Álex Pina, Money Heist aka Le Casa De Papel stars Álvaro Morte as The Professor, Itziar Ituño as Raquel, Úrsula Corberó as Tokyo, Miguel Herrán as Rio, Jaime Lorente Lopez as Denver, Alba Flores as Nairobi, Darko Peric as Helsinki, Esther Acebo as Monica, Hovik Keuchkerian, Rodrigo de la Serna, and Pedro Alonso as Berlin.

ALSO READ: From Shah Rukh Khan to Alia Bhatt, here’s the dream cast of Money Heist if remade in Bollywood

Kal Penn who played Irrfan’s son in The Namesake can’t get over the loss. “Irrfan was such an incredible artist. What a loss. It was magical. He was so gracious and giving as an artist and a person.”

Not many know about Irrfan’s wicked sense of humour. Says Kal, “He could be so funny! He had a wonderful sense of humor and I remember his approach to the craft being particularly warm.”

Kal recalls Irrfan as an actor sheared of vanity. “He was friendly. Friendly and down to earth. There was never any attitude with Irrfan, he was so comfortable in his own skin and so fully and truly embodied his character when the cameras were rolling.”

But what according to Kal really made Irrfan special was the way he embraced silences. “I've never worked with an artist who communicates so beautifully without needing to speak. When we would shoot scenes for The Namesake, so often, Irrfan would play beat after story beat with intimacy and in silence that made me immediately at ease and in the moment.”

Kal Penn learnt a lot from watching Irrfan not only while they worked together but also when they didn’t work together. “I learned a lot from working with Irrfan but also from watching him work across different mediums, different languages, and different continents. I will always admire his work more broadly, and to have had that kind of range is so remarkable.”

Kal will remember Irran as an actor who at once no one and everyone. “He was such a commensurate artist whose performances are simultaneously intimate and reflect the humanity in each of us.”

Also Read: 5 Years Of Piku: Deepika Padukone bids farewell to Irrfan Khan with an unseen picture

Indian football team striker Jeje Lalpekhlua has come to the rescue of people in dire need of blood when it is not readily available in Mizoram due to the extraordinary situation arising out of the COVID-19 pandemic. India is under a lockdown enforced to contain the Coronavirus.

"Due to the lockdown blood units are not readily available nowadays. So the hospital connected with the Young Mizo Association is seeking help. The news reached me and I knew immediately what I needed to do," he stated. "You cannot keep quiet and sit idle during such circumstances." He immediately rushed to the Synod Hospital in Durtlang, Mizoram to donate blood.

"Upon receiving the information, we chalked out our plan. We headed to the hospital from the Durtlang branch of YMA. Out of 33 who had reported, 27 were deemed fit to donate," Jeje informed. "It's not about me or someone else, it's about the human race that needs to fight together now, more than ever." The Young Mizo Association (YMA) is the largest non-governmental voluntary organisation which operates primarily in Mizoram and some parts of the other north-eastern states as well.

"It is so satisfying that I have been able to play a minor role. I thank the Almighty for giving me the strength." This is not the first time that Jeje has been involved in philanthropic activities. He has time and again rose to the cause in Mizoram whenever the situation has demanded. "Someone had to stand by them. If a hospital is falling short of blood units, we need to help. We all need to play our part during the crisis. The most difficult part, I understand is to stay at home. But it's very necessary. The longer we stay at home, the faster will India heal," added Jeje.

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

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

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

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

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

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Taiwan

Those caught up in the hustle bustle of a city life -- and craving for someplace pristine, calm and relaxed -- will fall in love with Taiwan. But along with its tranquillity and peace, there is also the effervescence of a place celebrating its culture and language with aplomb.

This small island nation in the South China Sea is truly the heart of Asia - and it is fast catching the attention of Indian travellers, offering as it does a perfect combo of fabulous food, superb night life, bustling markets, hot springs, culture, history, architecture and stunning natural beauty - from gentle mountains to lovely coastal landscapes.

It was around the Taiwan Lantern Festival 2018 that we landed at Taichung International Airport here to be greeted by our tour guide, the friendly and ever-smiling Charles Tung. And he wanted all of us - a group of travelling journalists - smiling as well. "Say cheese," he said as he got us to pose for a group photo before we embarked on our journey of exploration. And there is much to explore.

"Taiwan has a truly unique natural beauty. There are beautiful places like Sun Moon lake, Yangmingshan National Park, Black Dwarf Cave... to name just a few. These places provide an escape from the chaos of urban living," Noel Saxena, Country Head, Taiwan Tourism Bureau India Office, told IANS. Saxena said Taiwan is also very rich when it comes to art.

"Be it dance, music or even folk art, the Taiwanese have earned critical acclaim with an exceptional display of talent. Taiwanese hand puppetry and Taiwanese opera are two foremost examples of art forms that are authentically Taiwanese, in that they use the Taiwanese language, not Mandarin," he informed.

The Taiwanese love for music and art was evident at Ten Drum Ciatou Creative Park, located in Kaohsiung. Once a sugar processing plant, it is now the hub of a percussion group -- the Ten Drum Percussion Group that has won accolades globally, including a Grammy in the Best World Album category.

While taking a walk around the former factory, we had to take a path made up of the branches of trees... Quite literally, we were walking on trees without fear of falling down -- a unique experience.

Other stops included the Formosan Aboriginal Culture Village, a comprehensive recreational area featuring Taiwanese indigenous people's cultural relics as well as amusement park facilities; and the Sun Moon Lake, situated near Yuchi township, was truly mesmerising. One of the most beautiful alpine lakes in Taiwan, it is shaped like a crescent moon; hence the name.

The Buddha Memorial Centre at Fo Guang Shan is a landmark in the country. Touching 108 metres in height, the Buddha is made up of 1,872 metric tonnes of copper and iron and is currently the world's tallest bronze seated Buddha.

"Taiwan is blessed with natural beauty, scenic areas, great food, astonishing history and culture -- and Taipei 101. This makes it a great destination. It is a destination for all age groups," said Saxena.

The country is home to only about 20 million people and is a technology powerhouse. This was quite evident even at the traditional Lantern Festival - held earlier this month -- where all the work displayed was high-tech.

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Representational picture

New Delhi: With travel bug catching up in India, European countries are a preferred destination for Indians this summer, according to a survey.

Searches were conducted by travel search engine KAYAK.co.in between October 1, 2017 to March 23, 2018 for travel dates between May 5, 2017 and August 31, 2018.

As per the search, Moscow and Istanbul are taking the lead with year-on-year increase in flight searches by 269 and 252 per cent respectively.

Other trendy destinations this summer show that Indians are interested in travelling not only to the well-known European destinations like Spain, Germany and Greece but also to some less conventional ones like Norway, Hungary and even Iceland.

Europeans on the other hand are travelling to Palma Mallorca in Spain the most, followed by London and Lisbon.

Considering the budget, several European locales are emerging as good options for travel from India without burning a big hole in the pocket.

Istanbul, which is also the second top-trending destination, is seeing a price drop as high as 95 per cent compared to the average trip cost.

This is followed by Milan, Italy, with a 37 per cent drop in the average trip cost. With warm weather in Europe, this represents a good opportunity to travel to these European destinations for a summer adventure at a reduced price.

Abhijit Mishra, Director of India and Middle East, KAYAK, said in a statement: "With the summer holiday period quickly approaching, travel planning is on the rise and it was interesting to see how European countries have emerged as the preferred destination for Indians this year."

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The recently-released Emma Stone film, Battle of the Sexes, takes a relook at the debate on gender equality. Four Indian women, all in a minority in their professions, share mantras to come up trumps at the workplace

Go beyond misogyny
Priyanka Kochhar, Model and professional racer
Motorcycling remains a male-centric field. I model for a living so that makes it even stranger for men to see me on a bike. Luckily, I am my own boss but for every motorcycle I ride or event I participate in, I'm usually the lone woman. It used to be intimidating at first because I knew I wasn't as well-read about the technicalities of motorcycles.

But now, after two years of BikeWithGirl [her Instagram account], many male riders have begun to see me as they see their colleagues. I'm happy to note that motorcycle brands treat me the same way they treat male bikers. Maybe my hunger to do this is what they see and not my gender. The way I've tackled misogyny is by going beyond it. It used to rile me up at one point.

But work still has to get done, so I figured there was no point mulling over it. It has been hard, there's no denying it. And yes, there are still some critics but I've received a lot of support as well.

Be proactive at work
Archana Savleram Hadawale, Code-maker and software engineer
I am the only woman in a team of 11 men. I love to accept challenges, and coding offers a new challenge every day, which is why I picked the profession. You press an enter key, and the world changes. I come from a simple family where no one is a post graduate.

It wasn't easy to pick software engineering. My parents weren't supportive at first; they wanted me to get a nine-to-five job and pay attention to household work too. They also didn't want me to stress too much due to a health condition. There is a solution for everything. I meditate to deal with the stress that comes with the job.

If someone says you can't do it, tell him or her, 'Maybe I can't, but I will sit with you to get it done.' Don't wait to get work, ask for it. Whenever I work late, I see to it that there is someone whom I can trust around. Having a good senior helps. Since I don't come from the same social background as my colleagues, my manager provides me guidance to tackle hurdles. In the end, your work will do the talking.

Women must support women
Devita Saraf, Technology entrepreneur
Technology is challenging, engaging and futuristic; it's why I chose this field. I have two challenges, one that I am a woman, and two, I am a leader; people don't take this combination seriously. Whenever I am meet somebody or am at a meeting with a retailer, I show that I am in charge.

Your confidence should be high and your words must carry weight. This helps people take you seriously. It gets difficult in towns and cities outside metros where the older generation might show disregard. But you need to react graciously as they may not have dealt with women in business.

The number of women in technology is increasing; I interact with several female technology graduates but many suffer from parental pressure to choose marriage over career. I push for women in my company; women must support other women. Several department heads in my company, be it corporate sales or R&D, are women. Technology is a good industry for women as you are known for your IQ, and if you walk the talk, men respect you.

Set up pro-women systems
Seethalakshmy Narayanan, Investment banker
The female:male ratio in my company is 10 women to 65 men. However, the men are supportive. It is important for workplaces to set systems in place to help women produce a solid output.

An action as simple as having a peon stay back for the safety of a woman when she is working late makes a big difference. Give your 100 per cent, no one will hold you back.

Sharan Parekh with his rug inside Massimiliano Locatelli's 3D-printed house at the Milan Design Week

When Italian architect Massimiliano Locatelli of CLS Architetti called rug company ILO's Sharan Parekh and said he wanted one of their rugs, Parekh thought it would be for a party at his home.

"But he said he would using it inside his 3D-printed house, which was going to be showcased at the Milan Design Week, that too, in the bathroom!" he said. Parekh, also the managing director of ILO's parent company, Splendour (a known name in furnishings), tells us he had been meeting Locatelli many times as part of the Milan social scene. "We have worked with CLS for many ventures. We have designed carpets for the Belagio in Las Vegas, for the Miss Sixty and Philip Klein stores. It all started off socially. Also, we have been given space at Nilufar, known as the world's best design gallery, and that's how we have inroads in Milan," says the 30-year-old.

ILO, which means Joy in Finnish, is a Mumbai-based company, working in sustainably produced rugs, which are hand-tufted and hand-knotted by Tibetan artisans working in Nepal and North India. The aim is to combine traditional techniques with an edgy, contemporary design aesthetic. Not just is this ILO'S first outing, exhibiting on an international platform, but also the first Indian company showcasing at Fuorisalone (2018 Milan Furniture Fair).

The 3D-printed house is Locatelli's way of showcasing creativity, sustainability, flexibility, affordability and rapidity, at Piazza Cesare Beccaria, which is a square in the middle of Milan. It's also an experiment in low-cost housing, but with a slight difference. "The house is extremely low cost, but inside, everything is super expensive." There are lights by Italian architect, Gio Ponti, which are vintage, solid brass chairs, furniture by Nilufar, and the rug by ILO. "This is what the rug looks like — it's oval with an oval cutout in the middle. It's made of bamboo silk, silk and pashmina. It's almost like standing on a cloud. When Locatelli saw it, he said he couldn't have done better himself. He wanted the juxtaposition of low-cost housing which is super luxurious from within," explains Parekh.

Now, that they are back, they are focusing on many more such collaborations, and are now fielding offers from royal families from the Middle East. But, as Parekh says, the main thrill is in knowing that an Indian company, working with traditional craft, can understand the European aesthetic and be accepted there. "At the end of the day, it's about showcasing India."

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Shawna Pandya

While the world is already counting Dr Shawna Pandya in the league of Kalpana Chawla and Sunita Williams, the lady in question feels it's all "a bit premature".

Canadian scientist and astronaut, Dr Pandya, is known for her work as part of Citizen Science Astronaut (CSA) candidate with project PoSSUM (Polar Suborbital Science in the Upper Mesosphere) and PHEnOM (Physiology, Health and Environmental Observations and Microgravity) that she has been pursuing for two years now to understand several aspects of outer space, ranging from cloud formation to physiology and microgravity. She was one of the two candidates to be shortlisted from 3,200 people enrolled in the CSA programme.

While she has been working extensively in the field of outer space, and has in the past even worked with NASA, she clarifies that there has been "no announcement, flight assignment or selection of missions" [scheduled to take flight] yet. They will soon head off to a Mars simulation for two weeks though, that will help them prepare better for the mission, as and when it happens.

In a telephonic interview from Canada, where Dr Pandya is based, she tells us, "We are still developing our science and our mission. Our programme has done a phenomenal job of recruiting great candidates regardless of gender, ethnicity and country of origin. In fact, India has better representation in PoSSUM now. It is interesting that there is so much international representation in space programmes. It's not a competition to say, 'I will be the first such and such...' It's only about working with the passion and excitement."

Pandya is now part of a show on Sony BBC Earth titled Astronauts — Toughest Job In The Universe. Ask her what makes her job the toughest and she says, "I think everyone is serious and passionate about their job and consider it the toughest in the universe. This job, however, requires a tremendous amount of dedication and time. It's team-based and there is much risk involved. You cannot afford to let anyone down and that really raises the stakes."

Ever since she was a child, Pandya had been fascinated by space. "I remember when I was in grade seven, I'd read books on astronomy and the universe. I think that's where it all began for me," says the 33-year-old, who works as a general physician. When it comes to the areas that she has dabbled in, it's an extensive laundry list. From a black belt in Taekwondo to baseball, to motivational speaking, to walking the ramp and crooning as an opera singer, Pandya seems to have done it all. Ask her how does she pack in so much, and she says, "When I am asked this, I tell people, 'relax, I'm not doing all this in the same 24-hour period'. The trick is to prioritise what you do with your time, line up goals, set deadlines for yourself and act accordingly."

Pandya shares a deep connect with Mumbai and tries to visit the city once every five years. The last time she was here was last February. "I have most of my extended family here, my uncles, cousins and up until recently, my grandmother. There's no other city in the world like Mumbai, for me. There's so much going on here all the time but there's always something that comes out of the constant commotion. This city is always home away from home for me."

Also Read: Virender Sehwag Pays Heartwarming Tribute To Astronaut Kaplana Chawla

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

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

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

1. While all sectoral indices are in a sea of red since the outbreak of coronavirus, here's a look at the worst hit sectors since coronavirus outbreak:

   Sector	Since 1 March (%)	Since 1 Jan (%)
   BSE Metal	-30%	-45%
   BSE Bankex	-31%	-37%
   BSE Oil & Gas	-24%	-36%
   BSE Auto	-24%	-36%
   BSE Finance	-30%	-36%
   BSE Realty	-31%	-36%
   BSE Capital Goods	-25%	-33%
   BSE Power	-22%	-32%
   BSE Basic Material	-26%	-32%
   BSE Consumer Discretionary	-24%	-28%
   BSE IT	-25%	-27%
   BSE FMCG	-18%	-22%
   BSE Consumer Durables	-24%	-20%
   BSE Healthcare	-15%	-15%
   BSE Telecom	-18%	-14%

   *Note that prices are as on 19 March 2020
2. As you can see in the table above, metal sector has been hit the worst on year-to-date (YTD) basis. Note that, the sector has been witnessing selling pressure since last two years. The coronavirus situation has only exacerbated the situation.
3. Another sector that is largely impacted is banking and NBFCs. After being the most preferred in the Indian equity indices for over half a decade, things have changed for stocks in the financial sector. In India it is a double blow for financial sector in the form of YES Bank fallout and prolonged slowdown which increased the chances of credit quality deterioration.
4. To put things into context, foreign institutional investors (FIIs) were heavily positioned in the Indian financial space, and stocks in the sector witnessed maximum inflows during good times. Downward spiral for financial sector began since IL&FS crisis.
   
   Both, BSE Bankex and BSE Finance Index have plunged over 30% since the beginning of the month.
5. Shares of most hotel, leisure and airline firms have tumbled over 60% year-to-date, as the coronavirus outbreak across the world has forced people to cancel vacation plans. India also stand to lose foreign tourists due to the entry restrictions that have been put in place. And this has meant things getting worse for hotels and airlines sector.
6. Out of the 90 stocks listed on BSE from tourism, hospitality and film distribution segments, only 15 have given positive returns YTD.
7. Another sector that's facing the brunt is the automobile sector. Coronavirus couldn't have come at a worse time for India's auto sector that is battling a prolonged slump in demand. The virus outbreak has added to the pain, hitting production and lowering the demand even further as consumer spending is unusually low. Reportedly, the correction in the auto index is now close to what was seen during the 2008 global financial crisis. BSE Auto Index is down 36% on a YTD basis.
8. The fall in other indices like FMCG, consumer durables, capital goods and IT is relatively moderate as they do not have any direct impact of the pandemic. However, they too have been witnessing selling amid the sharp correction in Indian share markets.
9. Interestingly, Indian pharma has been doing much better than the overall index. Since the beginning of March 2020, the Sensex is down by 26% while the BSE Healthcare index is down only by 15% (till 19 March 2020).
   • One factor is the rupee weakness which has weakened well beyond the Rs 75/$ mark. A weak rupee helps exporters and pharma obviously benefits.
   • Another factor is the spread of the novel coronavirus has led global investors to rush for pharmaceutical stocks recently, on back of a rise in demand for generics and branded generics leading to shortages and over-pricing for drugs.
10. However, as the markets took a breather on Friday, the sectors that rallied the most were BSE FMCG, BSE IT and BSE Oil & Gas indices, gaining over 8% each.

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

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

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

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

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Stock markets around the world witnessed one of the most painful correction phases in the month of March 2020.

Indian stock markets too mirrored the trend.

Here are six charts showing how Indian financial markets performed in March 2020.

1. Record Wealth Destruction
   
   

   In the month of March 2020, the Sensex fell as much as 23%.

   It is not the month where the market has fallen the most. That honor goes to October 2008 where markets tanked 23.9%, beating the 23.1% the market lost last month by a whisker.

   However, March 2020 wins hands down in wealth destruction.

   Wealth destruction of Rs 4.4 lakh crores back in 2008 pales in comparison to the Rs 14.6 lakh crores worth of wealth destroyed on the Sensex in the last month alone.

   March 2020 the Second Worst Month in History

2. Huge Selling Pressure for Individual Stocks
   
   

   Except two, all the stocks in the BSE Sensex plunged in March 2020.

   The decline was mainly led by banking stocks and financial stocks.

   Stocks such as IndusInd Bank, Bajaj Finance, and Axis Bank fell as much as 40%-70%.

   Top BSE Gainers and Losers in March 2020

3. All Sectors in a Sea of Red
   
   

   Among sectors, all the BSE indices gave negative returns in March 2020.

   BSE Realty, BSE Bankex, BSE Finance, and BSE Auto Index fell more than 30%.

   It was a double whammy for banking and finance stocks that witnessed most of the brunt on the back of coronavirus outbreak and Yes bank crisis.

   Worst Hit Sectors in March 2020

4. Crude Oil Slumps Over 50%
   
   

   Crude oil crashed over 50% in March 2020.

   The fall was seen because of oversupply amid subdued demand.

   Oil prices crashed last month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

   Oil markets faced a double whammy from the coronavirus outbreak and a price war between Saudi Arabia and Russia after OPEC and other producers failed to agree on deeper cuts to support oil prices in early March.

   Shares of oil marketing companies such as Hindustan Petroleum Corporation (HPCL), Bharat Petroleum Corporation (BPCL), GAIL, ONGC, Indian Oil Corporation (IOC) and Indraprastha Gas were in focus in March amid record low crude oil prices.

   They witnessed buying interest and capped most losses led by the stock market crash.

   In his latest video, Ajit Dayal shares his views on the impact of the coronavirus crisis and the oil price war on the Indian economy and the stock market. You can view the same here.

   Crude Oil Continues Free Fall

5. Gold Prices Shine
   
   

   Base metals also remained under pressure as lockdown imposed in several parts of the world curbed demand, pushing stockpiles higher.

   However, gold prices rose 3% in March 2020 as demand for the safe haven asset rose with market participants bracing prolonged uncertainty in the wake of the novel coronavirus outbreak.

   To know more about gold, you can check one of Vijay Bhambwani's recent articles here: Is the Price of Gold About to Go Higher?

   Gold Witnesses Buying

6. Rupee Hits Record Low in March 2020
   
   

   Massive sell-off in equities and bonds led to a huge fall in rupee against the dollar in the month of March.

   The rupee hit a record low of 76.32 against dollar earlier this week.

   Most of the selling pressure for rupee was seen on the back of slump in equities and currencies globally. Investors were concerned that support measures from governments and central banks may be insufficient to halt the economic damage caused by the coronavirus pandemic.

   Rupee Continues Downtrend

So, that was a round-up on how Indian financial markets performed in the month of March 2020.

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

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

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

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

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

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

• The Covid-19 lockdown has hit cash flows of both individual borrowers and corporates. This, in turn, will impact their loan repayment capability.
  
  The RBI's repo rate cut came as a temporary lifeline for Indian companies with debt on books. It will offer both companies and retail borrowers some breather. If banks use this phase judiciously, it may save the NPA ratios from worsening significantly.
  
  However, only the banks that have adequate capital and provisioning cushion may be able to tide over the economic crisis. Eventually, another round of consolidation in private sector banks, like the one after 2002, cannot be ruled out.

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

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

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

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Happy Investing!

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

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

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

1. Rupee in 2018:
   
   

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

   Indian Rupee: The Worst Performing Currency in Asia in 2018

2. Rupee in 2019:
   
   

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

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

   Rupee Trades was Volatile in 2019

3. Rupee in 2020 So Far:
   
   

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

   YTD Performance of the USD/INR

4. Downtrend in March 2020:
   
   

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

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

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

   Huge Depreciation of the Rupee in March 2020

5. Rupee Hits Record Low in April 2020:
   
   

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

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

6. Factors Behind the Rupee's Fall:
   
   

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

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

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

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

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

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

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

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

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

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

You can listen the entire episode here...

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

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

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

Happy Investing!

The threat of online corrupt approaches does not cause much anxiety to BCCI's head of Anti Corruption Unit (ACU) Ajit Singh, who says Indian players are well aware of the modus operandi of fixers and are quick to report anything suspect. The ICC ACU head Alex Marshall, in an interview to 'The Guardian', said that prolonged lockdown and players using various social media platform could lead to corrupt approaches being made and people need to tread carefully. Singh said BCCI ACU is in control. "...we have made our players aware about the way people approach you and modus operandi through social media. We have told them 'look this is how they (potential fixers and bookies) would approach you'," the veteran IPS officer told PTI in an interaction. "(They will) try and behave like a fan and then try to meet you through someone who may be your acquaintance," he added. "Somehow these elements try and touch base with players. Most of them (India players), whenever it happens, they do report to us that I have got a contact."

Most of the top players, with millions of followers, have been very active online with Q and A sessions on twitter, interactive chats on instagram and Facebook live. So is the BCCI's ACU team tracking the online content? "Whatever can be tracked online, we do that. But obviously the physical verification part of going out and checking locations is out of question in times of a lockdown," he spoke about practical problems. "But if something comes to our notice, it automatically goes into our database and once lockdown is over, we will verify those if the need arises." Singh said the easiest aspect of tracking social media content is that it doesn't require too much manpower. "A few men who know their jobs can do it pretty well," the former DGP of Rajasthan said. But Singh said that, in his two year stint, all current India players have been honest and upright, very aware about their responsibilities. "We are not adversaries of players. The players and ACU are one team. It's the people who are trying to corrupt the games, they are the ones we need to track down." He said that both tracking social media and physical verification of corrupt approaches has its own set of challenges.

"Those who were trying to corrupt the players with physical presence and those using fake IDs on social media handles, converge at some point," he said. "Either it's the same person with a fake ID who tries to approach the player or uses someone on his behalf. So there is a pattern of convergence. One has to follow both the lines," he added. Singh said even former players have approached the ACU when they have found something unusual. "There have been things coming from current players and also retired players. There has been information coming from them. Things that they doubted, which look suspicious. "Any information is useful. Even if it's a false alarm, it raises the awareness level of the players as well as the skills of the team investigating it," the retired top cop said. There are some structural plans for the BCCI's ACU which will only materialise once normalcy returns after the COVID-19 pandemic. "Every zone will have a zonal head as it had been said earlier. A few zones don't have zonal heads, so we will fill those posts," he said.

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Cricket is rightly considered as a religion in India and is the most celebrated sport in the country. Whoever makes a career in cricket has one longing wish to play for the country and Indian cricketers rightly inspire with their story and innumerable achievements. With a dream to become a cricketer since childhood, Jeel Pareshbhai Gajipara grew up looking at his hero Mahendra Singh Dhoni's journey as a sportsperson. Gajipara born on October 24, 2001, in Ahmedabad, Gujarat is a notable name in the cricket. Since his school, he was fascinated by the sport after which he decided to make become a cricketer.

Currently, he is pursuing his B.Com from GLS University. The young and good looking guy also loves to do modeling. However, he considers cricket as his only passion in life. He has played for both domestic as well as international tournaments. He has played for many tournaments from Nepal, Mumbai, Ahmedabad, Kolkata, and Hyderabad. The batsman has also created many records for himself including his smashing batting of 97 runs from 32 deliveries for the Mumbai domestic team. Some of his other best scores include 136 runs in 67 deliveries, 116 runs in 71 deliveries and 177 runs in 122 deliveries respectively.

These batting scores totally show his love for the sport and prove that he is here to stay. His hard work and passion for cricket will one day surely fulfill his dream. Calling MS Dhoni as his idol, Jeel has a dream of playing for India and be successful as the former Indian skipper. "Before playing for India, I want to play in the IPL (Indian Premier League)", he quoted. For his achievements, Jeel was also featured in a Gujarati newspaper and had his interview on E24 news channel. The young blood's journey is commendable and we hope to see him play for the Indian Cricket Team one day.

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Former skipper Inzamam-ul-Haq believes the difference between India and Pakistan teams during his playing days was that Indian players played for themselves while Pakistani players played for the team.

"When we played against India, their batting was more powerful than us on paper. But even our batsmen scored 30 or 40 runs, it was for the team, but for India, even if they scored 100 runs, they played for themselves," Inzamam said during the chat show with Ramiz Raja on YouTube.

"So, that was the difference between the two sides," he added.

Inzamam, who represented the national team in 120 Tests, 378 ODIs and 1 T20I between 1991 to 2007, played at a time when Pakistan used to dominate India on the cricket field.

However, in recent times, the tables have turned with India having an upper hand over their Asian neighbours.

Overall, Pakistan and India have played 59 Tests, 132 ODIs and 8 T20Is against each other in which India have won 9, 55 and 6 matches respectively while Pakistan have emerged victorious in 12, 73 and 1 games respectively.

When it comes to 50-over World Cup, India have won all the seven matches they have played against Pakistan. In T20 World Cup, India have won four out of five matches against Pakistan while the remaining one yielded no result.

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Veteran India off-spinner Harbhajan Singh on Thursday said the current Indian team lacks a match-winner down the order and is too dependent on Virat Kohli and Rohit Sharma.

"This team is too dependent on Virat and you (Rohit). After Virat and you are gone, we lose 70 percent of the matches. Lower down the order few (players are there who can) win matches," Harbhajan said during an Instagram chat with India limited overs vice-captain Rohit.

"During our time, we had the trust that someone will make runs even after top three is out, taaki match na nikal jaaye haath se (match does not slip out of our hands). This is one area I think this team can work on. You need to find more match-winners," said Harbhajan, India's third highest wicket-taker in Test cricket.

"Like you (Rohit) had great World Cup (2019). But one had a great World Cup and we reach the semi-finals. Had we got three who did well in the World Cup, we could have won"

The ace offie, who helped India win the 2011 50-over World Cup, also heaped praise on K.L. Rahul saying he is another match-winner besides Virat and Rohit and can bat anywhere in the order.

"Apart from you (Rohit) and Virat, K.L. Rahul is a real match-winner. He can play at No. 5, No. 6 and can open as well," said the Turbanator, as he is fondly called.

Harbhajan also urged the team management to give longer ropes to players who can then express themselves better.

"They play well in the IPL but I don't see them playing like that for the national team. They are a totally different player in IPL. I think they are scared of their place being gone. If you give them a run of 9-10 games, they have a better chance to succeed," said the 39-year old.

"Same in Tests also. The team won in Australia we played well in India too. But in New Zealand you (Rohit) were injured, Prithvi Shaw was brought back which is a good thing. My concern is someone like Shubman Gill..he was in team from before. Now Rohit is a successful Test opener. But Gill...if he is not playing it is not healthy for him and the team as well. So he has to get a chance. It is not just for Gill I am saying."

Harbhajan also said it is good to see Shreyas Iyer doing well at No. 4 and the team management has done well by giving him a long rope.

On M.S. Dhoni making a comeback to the Indian team, he said: "When I was in Chennai Super Kings camp, people asked me about Dhoni. I don't know its upto him. You need to know whether he wants to play for India again.

"As far as I know him, he won't want to wear India blue again. IPL he will play but for India I think he had decided World Cup (2019) was his last."

Harbhajan, who now plays for CSK but has also turned out for Mumbai Indians, said while the former are a chilled out unit under Dhoni, the pressure of expectation is there in MI.

"It is a chilled out setup here. MI... we were under pressure that you need to win. There was pressure of expectation always."

Harbhajan also named the likes of Jacques Kallis, Mathew Hayden, Brian Lara, Younis Khan, and Inzamam-ul-Haq as the foreign batters he found it tough against.

As far as the best spinners are concerned, he named Nathan Lyon, Muttiah Muralitharan, Graeme Swann and Saqlain Mushtaq among those that come to his mind.

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

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

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

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

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

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

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

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Former Pakistan captain Javed Miandad has recalled how he and Zaheer Abbas went after the Indian spin attack -- comprising of Bishan Singh Bedi, Bhagwath Chandrasekhar and Erapalli Prasanna -- and scored bulk of runs in the three-match Test series in 1978-79.

Both Miandad and Abbas took the famous Indian spin troika to cleaners in the series which Pakistan won 2-0.

"Chandrasekhar, Bedi, Prasanna... India's strength was this, their spinners. And they did well around the world but when they came here (Pakistan), they were taken to the cleaners. Our players robbed them for so many runs," said Miandad in his Youtube channel.

Miandad recounted the first Test of the series played in Faisalabad and said how he and Abbas went after the Indian spinners.

"I remember that Chandrasekhar was giving some troubles to Zaheer bhai. Then he told me 'Javed please tackle him for me'. I obviously said yes. Meanwhile from the other end, Zaheer bhai was taking a lot of runs off Bedi sahib and Prasanna," said Miandad.

"Then I said, 'Zaheer bhai please allow me to take some runs too, I will also use my feet against them. I'm stuck here. I won't take a single off the last ball'," he added.

Both Miandad (154) and Abbas (176) scored big hundreds in that match which ended in a draw.

In the second Test in Lahore, there was still no respite for the Indian spinners as Abbas scored a brilliant double hundred as Pakistan won the match by eight wickets.

In the final Test in Karachi, it was the turn of Miandad to score a century as India lost the Test and ultimately lost the series 0-2.

Chandrasekhar took eight wickets in that series at an average of 48.12 while Bedi scalped six wickets at an average of 74.83. Prasanna managed to pick just two wickets in the two matches he played in the series at an average of 125.50.

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With the world coming to a standstill due to the coronavirus pandemic, former and current sportspersons have been interacting on social media to keep fans engaged and former Pakistan fast bowler Shoaib Akhtar has said that he would love to take up an offer to coach the Indian fast bowlers.

In an interview on social networking app Helo, Akhtar said that he has never stepped back from sharing his knowledge and he would be more than happy to do the same with Indian bowlers.

Asked if he was open to coach the Indian team if such an offer came, he said: "I will definitely. My job is to spread knowledge. What I have learned is (ilm) knowledge and I will spread it. I will produce more aggressive, fast and more talkative bowlers than the current ones who will tell-off the batsmen in a way that you will enjoy a lot."

Earlier, Akhtar had proposed a series between India and Pakistan to help raise funds to fight the pandemic. While former India skipper Kapil Dev was against the idea, Akhtar found the support of former captain Shahid Afridi.

"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," he said.

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Amidst the break from cricketing events due to the COVID-19 pandemic, legendary Pakistan cricketer Mohammad Yousuf picked his favourite Indian batsman of the current era.

During a recent Question and Answer session on social media with fans, Yousuf was asked to name his favourite Men In Blue cricketer.

The legendary middle-order batsman then picked Indian skipper Virat Kohli and swashbuckling batsman, Rohit Sharma, as his favorite cricketer.

Rohit, who is now the vice-captain of the ODI team, has played 224 ODIs, 108 T20Is, and 32 Tests so far. The limited-overs vice-captain has so far scored 14,029 runs across all formats.

In the longest format, he has also reinvented himself as the batsman started opening the batting in Test cricket last year. Rohit is the only player in the world to have three double tons to his name in ODI cricket.

He also holds the record for the highest individual score in the 50-over format as he played a knock of 264 runs against Sri Lanka at the Eden Gardens.

On the other hand, Kohli is widely hailed as the run-machine and has many records under his belt.

In 86 Test matches, he had 7,240 runs studded with 27 centuries and 22 half-centuries. In 248 ODIs, he has amassed 11,867 runs with an average of 59.33.

In the shortest format of the game, he has played 82 games in which he slammed 2,794 runs at an average of 50.80 with the help of 24 fifties.

Both Rohit and Kohli would have been in action for their respective franchise had the Indian Premier League (IPL) commenced from March 29.

However, the tournament has been suspended indefinitely due to the coronavirus pandemic.

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

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

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

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

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

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

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

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

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

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

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

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

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

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".

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

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

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

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

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

Being a cancer survivor, doctors made extra precautions.

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

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

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

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

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A Singapore-based Indian worker and his colleague were killed in an accident involving a car and the motorcycle they were on, it was reported.

The Police were alerted on Saturday morning that a male motorcyclist from Malaysia, 27, and the pillion rider, Sulthan Abdul Kathar Rahman Kareem, 33, from India, were involved in an accident with a sedan car at the junction of Hougang Avenue 3 and Airport Road, The Straits Times reported on Sunday.

The two were taken to the Changi General Hospital, where they were later pronounced dead. The two colleagues were heading to a restaurant where they worked, said a relative of Sulthan's.

"My cousin is the sole bread winner of his family, who were living back home in the Kottaipattinam village in southern India," the relative added. Prior to his death, Sulthan had been working in Singapore for over four years.

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India's GST Council has decided on a number of goods and services tax regime amendments to boost the availability of affordable housing in the country.

A number of goods and services tax regime amendments, intended to simplify compliance for traders, will become effective in India from April 1, 2019.

As of September 1, 2019, India introduced an obligation for tax to be deducted at source at a two percent rate if a taxpayer's cash withdrawals totaled INR10m (USD138,350) or more in the previous year.

India's GST Council agreed a number of changes to the country's goods and services tax regime, at its meeting on September 20, 2019.

Local authorities in India have been instructed to draw up lists of taxpayers that have filed fraudulent or potentially fraudulent requests for input tax credits and where appropriate share this information with other state authorities.

Share markets in India are presently trading on a positive note. Benchmark indices advanced today tracking firm global cues.

Further, talks of an economic stimulus for small businesses battered by the coronavirus outbreak improved sentiment.

Reportedly, the government may unveil fiscal stimulus amounting to 0.3% of the country's gross domestic product, focusing on small and medium sized businesses, real estate firms and banks.

The BSE Sensex is trading up by 524 points while the NSE Nifty is trading up by 146 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.7%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while power stocks are witnessing selling pressure.

The rupee is currently trading at 75.44 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,134.

Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.

You would be interested in knowing when the market will likely bottom out.

Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.

You can check the same here - This is When the Stock Market Will Bottom Out

Moving on, market participants are tracking Shree Cement share price, TCI Express share price, and SBI Cards and Payment Services share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems, SKF India.

In news from the banking sector, public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore for the March-April period to 41.81 lakh accounts, according to the finance ministry.

The borrowers represented the micro small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors.

Reportedly, PSB loans amounting to Rs 265 billion have been sanctioned in 2.37 lakh cases for MSMEs.

This is part of the PSB initiative to prioritise pre-approved emergency credit lines and enhanced working capital requirements to the sector.

Meanwhile, PSBs sanctioned loans worth Rs 773.8 billion to non-banking financial companies (NBFCs) and housing finance companies (HFCs) between March 1 and May 4.

Including the Reserve Bank of India's (RBI) targeted long term repo operations (TLTRO) window, PSBs extended Rs 1.08 lakh crore of financing to ensure business stability and continuity.

The finance ministry said that the three-month loan moratorium facility announced by the RBI has been availed by 3.2 crore PSB accounts.

On Thursday, Finance Minister Nirmala Sitharaman said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with PSB sanctioning loans worth Rs 5.66 lakh crore in just two months.

Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.

This is evident from the chart below:

India's Huge Lending Opportunity

Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

• Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.
  
  The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.
  
  Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.
  
  Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

Moving on to news from the FMCG sector, shares of Hindustan Unilever (HUL) rose 4% today after institutional investors bought stake in the company via open market on Thursday.

The NSE bulk deal data showed that foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 129 million shares of HUL at an average price of Rs 1,902.

UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals, yesterday.

According to the term sheet, over 133 million shares were offered in the range of Rs 1,850-1,950 to investors through a special block window.

The deal is valued roughly between Rs 246 billion to Rs 259 billion.

Note that last week, HUL reported a 7% decline in volumes in Q4FY20. The company's profit before tax fell 10.6% to Rs 19.9 billion, while net profit declined 1.2% year-on-year (YoY) to Rs 15.2 billion.

HUL share price is presently trading up by 3%.

To know more about the company, you can HUL's latest result analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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