Top headlines: Doctors, nurses prep for 3rd wave; EC set to give poll dates

Centre seeks relaxation in promoter shareholding cap for IDBI Bank sale. More in today's top headlines

The third wave of coronavirus is here in India and the medical fraternity is bracing up for yet another year of the pandemic. Read more on that in today's top headlines.

Doctors and nurses brace for third wave of Covid-19

Winter break cancelled; join duty immediately. This was the message from the All India Institute of Medical Sciences, Delhi, to its staff earlier this week.

The third wave of Covid-19 is upon India. And like the last time and the time before that, it is doctors and nurses who will be at the forefront, tackling it – night and day. Read more

Centre seeks relaxation in promoter shareholding cap for IDBI Bank sale

The central government has approached the Reserve Bank of India (RBI), seeking relaxation in the promoter shareholding cap for the new buyer of IDBI Bank.

The Centre has sought relaxing the 26-per cent cap for new promoters of IDBI Bank, as it looks to initiate a strategic divestment of the lender. The RBI is considering the Centre’s proposal, as the government plans to come up with an expression of interest (EoI) and preliminary information memorandum for the bank's sale. Read more

Budget 2022-23: Worst-hit sectors may get credit guarantee breather

With concerns about the economic impact of the Omicron variant growing stronger due to restrictions in various states, the Centre is likely to fall back on one of its major economic recovery planks – the Emergency Credit Line Guarantee Scheme (ECLGS). Read more

Assembly elections to be announced any time, but no decision on e-voting

With the Assembly election schedule to five states due to be announced any day now, and India in the grips of a surge in Covid cases, the Election Commission of India (ECI) is preparing to reply to a query from the Uttarakhand High Court (HC), which has asked whether virtual campaigning and online voting is possible in the upcoming Assembly elections in the state. Read more

Omicron restrictions may shave off up to 150 bps from FY22 GDP growth

Omicron-induced lockdowns, among other factors such as an increase in raw material prices, may pull down growth in gross domestic product (GDP) by up to 150 basis points (bps) for this fiscal year, according to economists.

Meanwhile, the government will release the first advance estimates of GDP for FY22 on Friday. It is to be seen whether it takes the Omicron effect into consideration. Read more