Covid-19: India partially lifts ban on export of paracetamol and HCQ

Delhi : With coronavirus (Covid-19) spreading at a rapid pace in the country and the neighbourhood, India has partially eased restrictions on export of paracetamol and Hydroxychloroquine. It has decided to licence paracetamol & Hydroxychloroquine (HCQ) in appropriate quantities to all our neighbouring countries who are dependent on India's capabilities, the Ministry of External Affairs announced. HCQ is the same drug that US President Donald Trump had sought from India and warned of retaliation if India did not supply the drug. MEA said, "We will also be supplying these essential drugs to some nations who have been particularly badly affected by the pandemic. We would, therefore, discourage any speculation in this regard or any attempts to politicise the matter". "India has always maintained that the international community must display strong solidarity and cooperation. Coronavirus crisis to hit Indian, Chinese, Indonesian banks hard, says S&P   Delhi : Global rating agency Standard and Poor’s (S&P) has said the Covid-19 crisis will hit the Indian, Chinese, and Indonesian banking systems the hardest in the Asia Pacific region. Non-performing assets could rise by $600 billion and credit by $300 billion in 2020 in the region, it said. The credit cost, amounts set aside for bad and stressed loans, for the Indian banking system will rise to 2.8 per cent in 2020-21, from the previous estimate of 1.5 per cent, S&P said in a statement. The pandemic will hit the demand and supply sides of the economy via domestic and external channels. It said if the slowdown is accompanied by mass unemployment, it may hurt the personal loan book of banks, which now form around 7 per cent of the total loan book.