Three Issues To Watch

Jyotiraditya Scindia Joins BJP

The Royal Scion ended his 18-year-old association with the Grand Old Party to join the saffron camp, Bharatiya Janata Party this week, plunging Kamal Nath government in Madhya Pradesh into a crisis of survival. In his public statement, Scindia said it was not possible for him to serve the people while staying in the Congress. While Congress leaders called his step as breach of trust, many slammed him for joining the divisive and majoritarian agenda of the BJP. Apparently, Scinidia’s political ambition played a role for his decision, but the headless Congress is also to be blamed for pushing him towards the exit.

Coronavirus Spooks Stocks, WHO Calls It Pandemic

No more than 24 hours after the World Health Organisation classified Covid-19, better known as Coronavirus, as global pandemic, stock indices the world over tanked. A majority of countries has already placed travel bans to and from the countries that are severely affected by the disease. The global economic setback of the pandemic is still to be fully measured but most experts feel it will take a long time for the world’s major economies to recover from the losses. India, meanwhile, has taken appropriate steps and well in time, by suspending all visas, except that of diplomats, into the country and mandated a 14-day quarantine for all incoming visitors from select nations. It is believed that more people will be left bankrupt than dead by the time the world gets over the health calamity.

Yes Bank Crashes, SBI Steps In To Rescue

For last one year, it was believed to be an eventuality; the only question was when. Ever since Yes Bank founder Rana Kapoor was removed from the private bank’s board in January 2019, and its stocks plummeted, the institute stumbled over one crisis after another. Now, with Kapoor’s questionable means to keep the bank floating out in the open, Enforcement Directorate and Central Bureau of Investigation are building up strong charge-sheets against the banker. The biggest worry is the small depositors whose money is locked in the bank’s frozen accounts. Mercifully, with a nudge from RBI, the cash-rich State Bank of India, a Fortune Global 500 entry, and the private ICICI Bank have stepped in to retrieve the sinking entity. Will it end well is the worry of thousands of small investors.