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IDBI Bank surges 10% on fund raise plan, proposal to sell stake in IFLI
Posted on 9th April 2020
Shares of IDBI Bank advanced up to 10.5 per cent to Rs 21.95 on the BSE on Thursday after the private lender said it has targeted to raise up to Rs 7,500 crore through rupee bond in the current fiscal.

At 9:34 am, the stock pared its gains partially to trade 5 per cent higher at Rs 20.8 apiece. In comparison, the headline S&P BSE Sensex index was trading 3 per cent higher at 30,773.60 levels. A total of 0.56 millino shares have changed hands on the counter on NSE and BSE till the time of writing of this report. So far in calendar year 2020, the stock price of the lender has crashed 46 per cent.

At its meeting held on Wednesday, April 8, 2020, the Board of Directors approved the rupee bond borrowing limit of Rs 7,500 crore for FY 2020-21 to be borrowed in one or more tranches, IDBI Bank said in a regulatory filing.

"The borrowing programme comprises additional Tier I bonds up to Rs 3,000 crore, Basel III Tier 2 bonds up to Rs 3,500 crore and senior/ infrastructure bonds up to Rs 1,000 crore by way of private placement during 2020-21," it said.

Separately, the board of directors also approved the proposal to sell bank's stake of up to 27 per cent in its life insurance joint venture IFLI.

Recently, the bank had offered a relief to borrowers to mitigate the burden of debt servicing brought about by disruptions on account of coronavirus pandemic. The bank granted a moratorium on three installments of term loans for three months till May 31, 2020. During the said moratorium period, interest shall continue to accrue on the outstanding portion of the term loan. The Interest accrued will be added to the outstanding loan amount at the end of the moratorium period and the repayment schedule for such loans will be reframed accordingly.

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Delhi borders sealed for a week, only essential services allowed: Chief Minister Arvind Kejriwal
Posted on 1st June 2020
Chief Minister of Delhi Arvind Kejriwal on Monday declared that the borders of the national capital will be sealed for the next week, in view of the rising number of coronavirus disease (COVID-19) cases amid this pandemic outbreak. He added that only essential services will be allowed to exempted at the borders.

Coronavirus Outbreak: In highest spike yet, India's COVID-19 tally crosses 1.90 lakh cases; 5,394 deaths
Posted on 1st June 2020
The total number of confirmed cases of COVID-19 infection in India crossed the 1.90 lakh-mark on Monday, while the death toll has topped the 5,300-mark as well. At 9:30 AM on this day, the COVID-19 tally in the country has reached 1,90,535 cases, which includes 93,322 active cases; 91,819 cured, discharged, or migrated patients, and 5,394 deaths.

Online classes 'First Bell' for Kerala school students begins today
Posted on 1st June 2020
The new academic year begins today in Kerala. The Kerala government will begin virtual classes for school students from today, in an effort to ensure that they do not miss out on lessons due to COVID-19 induced lockdown.

More than 45 lakh students will be part of this online initiative.

Power bill over Rs 100,000? Now it's must to file income-tax return
Posted on 1st June 2020
The government has notified new income-tax return forms for 2019-20, making it mandatory for high spenders to file ITR and allowing assesses to avail benefits of extended timelines in view of Covid-19.

People incurring large spending will not be able to escape paying taxes, with the government making filing mandatory in specific cases even in their income is below the taxable limit.

Wajid Khan, of music composer duo Sajid-Wajid dies at 42
Posted on 1st June 2020
Wajid Khan, of music composer duo Sajid-Wajid, died at the age of 42. The news was confirmed by singer Sonu Nigam, who posted a picture on Instagram and wrote, My brother Wajid left us.

Speaking about his health condition, music composer Salim Merchant told PTI, He had multiple issues. He had a kidney issue and had a transplant a while ago. But recently he got to know about kidney infection... He was on the ventilator for the last four days, after his situation started getting worse. Kidney infection was the beginning and then he got critical.

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