www.thehansindia.com VOL. 10 | NO. 85 | SATURDAY 10 OCTOBER 2020 | HYDERABAD | PAGES 10 | `5.00 Forecast: Showers late. Afternoon clouds. Temp: Max.31°C. Min.23°C. Humidity: 56% Sunrise: 06:08 Sunset: 05:57 H Simultaneously published from Hyderabad | Warangal | Tirupati | Amaravati | Visakhapatnam | Khammam | Kurnool | Delhi H H Follow @ /thehansindia | /thehansindiaweb | /thehansindia | /thehansindia | /thehansindia H BOOSTING REALTY WINDOWS RBI rejigs home loan norms Differential risk weights applicable to individual loans Piyush gets additional charge of Food Ministry New Delhi: A day after the demise of Union Minister Ram Vilas Paswan, President Ram Nath Kovind has given the additional charge of Ministry of Consumer Affairs, Food and Public Distribution to Railway Minister Piyush Goyal. Earlier, the Union Cabinet met and condoled the demise of Paswan, and also observed silence for two minutes in memory of the late leader. Mumbai: In a bid to improve liquidity for home buyers and boost realty demand, the Reserve Bank of India (RBI) has decided to rationalise the risk weights of new individual home loans sanctioned up to March 31, 2022. Under the extant regulations, differential risk weights are applicable to individual housing loans, based on the size of the loan as well as the loan-to-value ratio (LTV). Addressing the media after the Monetary Policy Committee's bimonthly meeting, RBI Governor Shaktikanta Das said: "In recognition of the role of the real estate sector in gen- erating employment and economic activity, it has been decided to rationalise the risk weights and link them to LTV ratios only for all new housing loans sanc- tioned up to March 31, 2022." He noted that the move is expected to give a ﬁllip to the real estate sector. Realty players have hailed the decision which would boost liquidity for the prospective home buyers. "The linking of risk weight of home loans to LTV for all new housing loans is a step in the right direction, this will benefit the real estate sector," Krish Raveshia, CEO, Azlo Realty said. BUSINESS RBI goes for liquidity boost Mumbai: The Reserve Bank on Friday made an expected move by retaining key lending rates, but cheered investors and home buyers by giving a liquidity boost and an optimistic outlook. The central bank's Monetary Policy Committee, in its penultimate meet for 2020, decided to maintain the repo - or shortterm lending - rate for commercial banks, at 4 per cent on the back of persistently high inﬂation, fanned in part due to supply side disruptions along with seasonal factors. The reverse repo rate was also left unchanged at 3.35 per cent, and the marginal standing facility (MSF) rate and the 'Bank Rate' at 4.2 per cent. S Report: P9 Sudden downpour late on Friday night left many roads waterlogged in Hyderabad. Nizamabad bypoll for Council ends 24 Covid patients donning PPE kits cast votes HANS NEWS SERVICE Nizamabad/ Hyderabad: The bypoll to the Nizamabad Local Authorities MLC seat in Telangana ended on a peaceful note on Friday. The counting of votes would take place on October 12. This election has assumed importance since K Kavitha, daughter of the Chief Minister and former Nizamabad MP is in the fray. It is said that out of total of 824 votes, 821 votes were polled. The elections were conducted keeping in view the corona pandemic situation. Twenty-four voters came to the polling booth in PPE kits to exercise their franchise since they were tested positive. Other voters had come with masks and gloves on as per the directions of the election commission. Arrangements for hand sanitisation and thermal screening of voters was done at the entrance of the polling station. Markings were made in the polling booths to maintain physical distancing. The polling staff applied indelible ink on the ﬁngers of the voters. The election personnel were also wearing masks, gloves and frequently used had sanitizers. Medical team was also stationed in the polling station stocked with medicines in case of emergency. The public representatives came in batches to vote in the election. The TRS public representatives, including ZPTCs and MPTCs, who were camping in Hyderabad were taken to Nizamabad in buses. The results will be declared on October 12. Continued on Page 5 Crowdfunding brings ray of hope to struggling handloom artisans MD NIZAMUDDIN Hyderabad: One of the ﬁnest Ikat weavers, Jayamma from Koyyalagudem of Yadadri-Bhuvanagiri district who was struggling to meet ends following the lockdown, is amongst the hundreds of handloom artisans being helped through crowdfunding. Already coping with the onslaught of power looms, this pandemic was a major jolt to artisans and pushed them to destitution. But artisans of different age groups are able to slowly bringing back their lives on track, with little assistance of working capital. “This pandemic has taken away whatever little extra earning I had. We are just beginning to earn a little better and recuperating from the ﬁnancial crunch. I thanked God for help, when I saw that some money was added in my account,” says Jayamma. To compensate the wage-loss that these artisans and handloom workers are incurring following lockdown, the Creative Bee Foundation (CBF), along with the support from crowdfunding platform Milaap could send grants to the accounts of over 2,000 weavers and artisans directly in 7 villages, to help them tide over the tough times. Continued on Page 5 Photo: N Shiva Kumar Meru India gets 2nd tranche of Swiss bank a/c details New Delhi: India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's ﬁght against black money allegedly stashed abroad. India is among the 86 countries with which Switzerland's Federal Tax Administration (FTA) has exchanged information on ﬁnancial accounts within the framework of global standards on AEOI this year. India had received the ﬁrst set of details from Switzerland in September 2019 under AEOI (Automatic Exchange of Information), when it involved 75 countries. The information exchange this year involved nearly 3.1 million (31 lakh) ﬁnancial accounts, FTA said in a statement on Friday. The number of such accounts was similar in 2019. While the statement did not explicitly name India among the 86 countries, officials said that India is among the prominent countries with which Switzerland has shared details about ﬁnancial accounts of clients of Swiss banks and various other ﬁnancial institutions. Continued on Page 5 CABINET NOD FOR AMENDMENT TO GHMC ACT LIKELY Best vaccine against chaos HANS NEWS SERVICE Hyderabad: The State Cabinet will meet on Saturday at 5 pm at Pragathi Bhavan to discuss the draft bills to be introduced in the State Assembly on Monday which includes amendments to the GHMC Act. The Cabinet to be chaired by Chief Minister K Chandrasekhar Rao will also discuss the regulatory farming policy to be implemented during the summer season and purchase of paddy among other issues. This meeting assumes importance since the government will be holding the session of the Legislative Assembly on October 13 and Legislative Council session on October 14. "The Legislative Assembly Session will begin at 11.30 am and the Council at 11 am. The Bills introduced in the Legislative Assembly on October 13 will be placed before the Legislative Council on October 14. Prior to the cabinet meeting, the chief minister will hold a review meeting with Agriculture and Civil Supplies Department officials. UN food agency WFP wins Nobel Peace Prize Oslo/Geneva: The United Nations’ World Food Programme (WFP) won the Nobel Peace Prize on Friday for its efforts to combat hunger around the world and improve conditions for peace in areas affected by conflict. The Rome-based organisation says it helps some 97 million people in about 88 countries each year, and that one in nine people worldwide still do not have enough to eat. “The need for international solidarity and multilateral cooperation is more conspicuous than ever,” Berit Reiss-Andersen, chairwoman of the Norwegian Nobel Committee, told a news conference. She called the WFP a driving force in efforts to prevent the use of hunger as a weapon of war and conflict, and said the Covid-19 pandemic, which the WFP says could double hunger worldwide, had made it even more relevant. “Until the day we have a medical vaccine, food is the best vaccine against chaos,” the Nobel committee said in its citation. “There is an estimate within the World Food Programme that ... there will be 265 million starving people within a year, so of course this is also a call to the international community not to underfund the World Food Programme.” WFP runs a logistics service that has dispatched medical cargoes to over 120 countries throughout the pandemic to help governments and health partners fighting Covid-19. It also has provided passenger services to ferry humanitarian and health workers where commercial flights were unavailable. “At a time when we are living through a global pandemic, the need for food, humanitarian help has intensified,” Reiss-Andersen told Reuters. Continued on Page 5
thehansindia.com is a news portal which strives to keep you hooked on to news-as it happens. Our team aims to keep you abreast with whatever is making headlines across the world including politics, business, sports, lifestyle and entertainment. thehansindia.com is a part of The Hans India, an English Daily published across Telangana and Andhra Pradesh. The newspaper was launched in 2011 and publishes editions from Hyderabad, Visakhapatnam, Amaravati, Rajahmundry, Khammam, Kurnool, Nizamabad, Tirupati and Warangal simultaneously, the newspaper is on its way to becoming the leading English Newspaper in Telangana and Andhra Pradesh. We are soon going national too. The Newspaper is owned and operated by Hyderabad Media House Ltd, which also runs the Telugu-language news channel, HMTV. In a nutshell, we closely highlight socio-economic development of India in general and the two Telugu states in particular.