Michelle Prater (nee Wheatley) brings a unique perspective to the natural tension between landlords and tenants in the current market – she is a director of the country’s largest car dealer and one of their largest landlords.…
The Finance Ministry on Friday released Rs 17,287 crore to states to enhance their financial resources during the COVID-19 crisis.
Of this amount, Rs 11,092 crore is towards State Disaster Response Mitigation Fund (SDRMF) to all states.
An amount of Rs 6,195 crore has been released as ‘Post Devolution Revenue Deficit Grant’ to 14 states namely Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand and West Bengal.
“The @FinMinIndia today released a total of Rs 17,287.08 crore to different States to enhance their financial resources during the #COVID19 crisis, ” the Office of Finance Minister Nirmala Sitharaman said in a tweet.
These States are Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab, Sikkim, Tamil Nadu, Tripura, Uttarakhand & West Bengal. The remaining Rs 11,092 crore is to all States as advance payment of Central share of 1st instalment of SDRMF. pic.twitter.com/GqiIc1FnAr
— NSitharamanOffice (@nsitharamanoffc) April 3, 2020
This includes Rs 6,195.08 crore on account of ‘revenue
When the lockdown was announced, Feroze, who worked as a food delivery agent with Swiggy in Bengaluru, panicked and rushed home to Davangere, five hours away. Now he wants to return. “I have no income; I am exhausting my savings. If I get a pass somehow, I will go back to work,” says Feroze, who earned Rs 28,000-30,000 a month at the start-up.
Though food delivery orders have reduced on the platform, grocery orders have picked up, says another Swiggy rider who had just completed his 18th delivery of the day.
Online grocery, which is barely about four per cent of India’s $600-700 billion grocery market, has seen an overnight surge. Zomato, too, has begun these services under Zomato Market.
At online grocery store BigBasket, slots get filled within the first 15 minutes of opening, post-midnight. “We are serving 75,000 orders but the number of people seeking to order would be 300,000 to 400,000 a day,” says Hari Menon, co-founder and CEO of the Bengaluru-based company. “All our warehouses are open and we have enough stock. We are short of people, that’s all. And we can’t run a business
If your big bank has turned down your application for a small business loans, they are legally obligated to refer you to an alternative provider under the Small Business, Enterprise and Employment Act 2015 as part of the bank referral scheme.
The scheme exists to ensure that owners of businesses have somewhere to go for financial help.
The issue is, the referral is not always great. It is sometimes to another large bank who, once again, will reject your application for finance.
This is unfair. If you have an established business, a workable business model and finances that show you can repay, you should be approved for a loan. You should also be recommended lenders who are more likely to accept your application.
Why did your bank reject you?
The next step to take is to find out why your bank turned down your application for a small business loan in the first place. The reason may be something as innocent as spelling the name of a director wrongly. Or it might be something as alarming as the bank being unhappy with your balance sheets. Either way, you need to know why you were rejected so you can submit
One of Western Australia’s biggest residential property managers has called for more clarity around how tenants impacted by COVID-19 renegotiate rental agreements and how landlords can continue to service debt under the federal government’s moratorium on evictions.
Rental Management Australia chief executive Andrew Graham, who manages a rent roll of more than 3,500 properties in WA, Queensland and Victoria, said relief was desperately needed not only by renters, but also by landlords willing to support their tenants.
Mr Graham said issues that needed to be addressed included the ability for landlords to make mortgage payments if they grant a rent-free period or an abatement to their tenants, the ability to continue to maintain properties, and the prospect of continuing to make other statutory payments.
On the tenant side, Mr Graham said more clarity was particularly needed over a tenant’s obligations in the forms of paying additional rent or accepting an extended lease period once the COVID-19 crisis passes.
“The impact of this pandemic will be felt by many, if not most people, and that includes tenants and the hundreds of thousands of hardworking Australians who own investment properties,” Mr Graham told Business News.
“We haven’t yet heard any
The civil aviation ministry has ordered a 50 per cent waiver in demurrage charges in order to unclog import warehouses and facilitate smooth transport of essential items during lockdown period.
However, the customs department feels that this will only discourage more importers and brokers from lifting their consignments and cause further congestion of ports.
Demurrage refers to the penalty levied on importers by air cargo terminal operators for delays in clearing shipments and is collected on per-kilogram basis.
The reduced charges will apply to goods which are cleared by midnight of April 16 and subsequently normal rates will apply.
“With anyway no demand of imported items amid lockdown of manufacturing facilities, the waiver will basically incentivise importers to continue keeping the shipment at the airports itself,” said a senior customs officer.
In it’s April 1 order the civil aviation ministry said the imported cargo could not be cleared creating a congestion