New Delhi: Around 144.5 million people who are eligible to be provided grain (wheat or rice) under the Pradhan Mantri Garib Kalyan Package (PMGKP) did not get their entitlement for the month of May, data released by the Centre on June 3 show.

The Covid-19 outbreak and the ensuring lockdown has hurt almost all industries in India, but for the country’s $370 billion shadow banking sector, this might be the last nail in the coffin.

Since the past two years, several non-banking financial companies (NBFC) in India have been dealing with one bad news after another, including cash crunch, high cost of capital, and burgeoning bad loans.

The decision comes on the backdrop of China not letting United Airlines and Delta Air Lines resume flights this week to the country after operations were suspended earlier this year due to the Covid-19 pandemic.

The rupee surrendered all intra-day gains to provisionally settle 11 paise lower at 75.47 against the US dollar on Wednesday, even as domestic equities were trading in positive territory.

Forex traders said positive domestic equities, sustained foreign fund flows, revival of business activities and weak US dollar supported the local unit, but there are still a slew of risks, including US-China trade tiff and concerns that it may jeopardise the Phase-1 deal.

The Chinese military in Tibet has held night-time high-altitude ‘infiltration exercises behind enemy lines,’ says the Communist Party-run Global Times