The Evening Wrap: Interest repayment by November 5

The Hindu Newsletter - Here are the biggest news stories of the day [The Hindu Logo]( [Facebook]( [Twitter]( [Youtube]( [Linkedin]( [Instagram]( Sunday 25, October 2020 [alt_text]( The Evening Wrap [Here are the biggest news stories of the day]( [alt_text]( Welcome to the Evening Wrap newsletter, your guide to the day’s biggest stories with concise analysis from The Hindu. We hope you are staying safe. Loan moratorium: Centre informs Supreme Court it will repay additional interest by November 5 The Centre has informed the Supreme Court that the difference in the compound interest and simple interest charged for six months of moratorium period on eight categories of loans worth up to ₹2 crore [will be paid back to borrowers by November 5, 2020](. The scheme is meant to bring "additional relief" to borrowers affected by the pandemic-induced financial distress. "The Central Government has directed that all lending institutions shall give effect to the scheme and credit the amount calculated as per the scheme into the accounts of the borrowers by November 5," the Ministry of Finance said in a short affidavit in court. All lending institutions will credit the difference between compound interest and simple interest on loans in the respective accounts of eligible borrowers for the period between March 1 and August 31, the affidavit said. "The amount shall be credited by each of the lending institutions irrespective of whether such eligible borrowers have fully availed or partially availed or have not availed of the moratorium/deferment in payment of installments as par the circulars dated March 27 and May 23 issued by the RBI," the affidavit explained. In the last hearing on October 14, a three-judge Bench led by Justice Ashok Bhushan had questioned the government's need to wait a whole month, till November 15, to notify the implementation of a scheme for waiving the compound interest (interest on interest) accumulated during moratorium against loans worth up to ₹ crore. PM has ‘decided’ date of war with China Pakistan: U.P. BJP chief In a controversial remark, BJP’s [Uttar Pradesh chief Swatantra Dev Singh said]( Prime Minister Narendra Modi has decided when the country would be at war with Pakistan and China. His remarks on Friday came amid tension at the Line of Actual Control between India and China, where the two countries have massed troops. The BJP leader linked his claim to the beginning of construction of a Ram temple in Ayodhya following a Supreme Court judgment, and the abrogation of special status to Jammu and Kashmir under Article 370 of the Constitution. Like the decisions on Ram Mandir and Article 370, Prime Minister Narendra Modi has decided when there would be war with Pakistan and China, he is heard saying in a video clip on social media. “Sambandhit tithi tai hai,” he said in Hindi, claiming that a decision has been taken on the date. Mr. Singh was speaking at an event at the home of BJP MLA Sanjay Yadav, who released the video. In his address, Mr. Singh compared Samajwadi Party and Bahujan Samaj Party workers with terrorists . When asked about the remarks, local MP Ravindra Kushwaha said the the UP BJP president made them to boost the morale of party workers. Want tension to end, but won’t cede an inch: Rajnath Singh Meanwhile, striking a more traditional tone, [Defence Minister Rajnath Singh said]( India wants an end to the ongoing standoff with China in Eastern Ladakh, but Indian soldiers will not allow even an inch of the country to be taken away by anyone. “India wants an end to the ongoing border tension with China and restoration of peace. This is our objective. But at times, some nefarious incidents keep happening. I am very confident that our soldiers will never allow even an inch of our land to be taken away by anyone,” Mr. Singh said after performing ‘Shastra Puja’ on the occasion of Dussehra at Sukna, headquarters of the Army’s 33 Corps in West Bengal. [Defence Minister made the remarks after performing “Shastra Puja” — the customary worship of weapons — at the Sukna-based headquarters of the Indian Army’s 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra.]Defence Minister made the remarks after performing “Shastra Puja” — the customary worship of weapons — at the Sukna-based headquarters of the Indian Army’s 33 Corps in Darjeeling district of West Bengal on the occasion of Dussehra. “I can say with confidence and on the basis of concrete information that the courage and deeds of Indian soldiers during whatever has happened at the India-China border in Ladakh recently will be written in golden letters by historians,” Mr. Singh said. Mr. Singh was accompanied on the visit by Army Chief Gen Manoj Naravane and after the puja, he inaugurated a road in Sikkim built by the Border Roads Organisation (BRO) through video-conference. The 19.85 Km alternate alignment of the National Highway 310 was necessitated due to the previous alignment having seen extensive damages due to sinking and other natural hazards, Defence Ministry said in a statement. Since the standoff along the disputed boundary in Ladakh in May, the Army has been on high alert along the entire LAC. On June 15, 20 Indian soldiers were killed in a violent clash in Galwan valley in which China suffered an unknown number of casualties. A government official said China, through diplomatic channels, has accepted five personnel killed including a Commanding Officer. RBI Governor tests positive for Covid-19 Reserve Bank of India Governor Shaktikanta Das on October 25 said he has been tested positive for COVID-19 and will continue to work from isolation. [Mr. Das said he is asymptomatic]( and has alerted those who came in contact with him in recent days. “I have tested COVID-19 positive. Asymptomatic. Feeling very much alright. Have alerted those who came in contact in recent days. Will continue to work from isolation. Work in RBI will go on normally. I am in touch with all Dy. Govs and other officers through VC and telephone,” he tweeted. Currently, the RBI has full strength of four Deputy Governors B.P. Kanungo, M.K. Jain, M.D. Patra and M. Rajeshwar Rao. The RBI Governor was quite active during the lockdown period and post unlock period to keep the economy and financial market in good shape. Covid watch - Numbers and Developments The number of reported [coronavirus cases from India]( has crossed 6 million and stands at 78,99,520 at the time of publishing this newsletter with the death toll at 1,18,932. [ Medical staff at the entrance of the Covid Ward of the LNJP Hospital during Covid 19 Pandemic in New Delhi. File ] Medical staff at the entrance of the Covid Ward of the LNJP Hospital during Covid 19 Pandemic in New Delhi. File Tamil Nadu’s Minister for Agriculture R. Doraikannu, who tested positive for Covid-19 on October 13, [remains critical on ventilator and Extracorporeal membrane oxygenation (ECMO) support]( at Kauvery Hospital. Chief Minister Edappadi K. Palaniswami, accompanied by ministers D. Jayakumar and C. Vijaya Baskar, visited the hospital on Sunday to enquire about his health condition and interacted with his family members. In Brief: [U.S. Vice President Mike Pence's chief of staff tested positive for Covid-19]( on Saturday, a spokesman said, the latest in a list of figures connected to Donald Trump's administration to do so. Marc Short began quarantine and was assisting in the contract tracing process, Pence spokesman Devin O'Malley said in a statement. "Vice President Pence and Mrs. Pence both tested negative for Covid-19 today, and remain in good health," he added. Pence, who has been campaigning ahead of the November 3 election, will maintain his current schedule in consultation with White House doctors, said the spokesman. [Ruturaj Gaikwad of Chennai Superkings celebrates his fifty during the Indian Premier League match against Royal Challengers Bangalore at the Dubai International Cricket Stadium in Dubai on October 25, 2020. ]Ruturaj Gaikwad of Chennai Superkings celebrates his fifty during the Indian Premier League match against Royal Challengers Bangalore at the Dubai International Cricket Stadium in Dubai on October 25, 2020. [Chennai Super Kings finally displayed the much-needed intent](, keeping themselves just mathematically alive with a comprehensive eight-wicket victory over Royal Challengers Bangalore in an Indian Premier League match here on Sunday. Young Ruturaj Gaikwad (65 not out off 51 balls) showed his potential with a maiden fifty but skipper Dhoni wouldn’t be wrong in thinking that it came too late in the day when the ‘Yellow Brigade’ is all but out of the play-off reckoning. The fifth edition of the [Kochi-Muziris Biennale has been postponed to November 1, 2021](. Originally, it was set to get under way on December 12 this year. In a communication, the Kochi Biennale Foundation stated that the move to postpone the visual arts festival was taken as there were no signs of the pandemic abating in India and with Kerala having slipped into a second spike in COVID-19 cases. Evening Wrap will return tomorrow. Today's Top Picks [alt_text]( [Poirot at 100]( [alt_text]( [Consumer Capers]( [alt_text]( [The brightest star]( [alt_text]( [Sex, lies and Zoom calls]( You are receiving this email because you are a user of [thehindu.com]( If you do not wish to receive any such emails, [unsubscribe here.](mailto:rm-0b46rqp4bf2f90kauhrxfebysa8hkhz@newsalert.thehindu.com?subject=Unsubscribe&body=You will be unsubscribed from our mailing list.) To ensure you continue to receive emails from The Hindu in your inbox, please add newsletters.th@newsalert.thehindu.com to your contact. 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