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The Latest: Indian states warn of COVID-19 vaccine shortages

The Latest: Indian states warn of COVID-19 vaccine shortages

Health
NEW DELHI — Multiple Indian states are warning the federal government of COVID-19 vaccine shortages as another spike in cases threatens to overrun the country and its already-feeble medical infrastructure.Authorities in New Delhi and in Punjab and Rajasthan states said Saturday that they would not be able to continue vaccinations in the coming days unless stocks were replenished. Earlier this week, western Maharashtra state, the epicenter of the country’s outbreak, closed some vaccination centers and turned people away due to inadequate vaccine supplies.Indian Health Minister Harsh Vardhan has said the country has enough doses and urged state governments to put an end to “fearmongering.”India, a major vaccine manufacturer, has so far administered 97 million shots but is facing major supply...
Over 60% Indian consumers ‘newly constrained’; report decline in household incomes: Nielsen

Over 60% Indian consumers ‘newly constrained’; report decline in household incomes: Nielsen

Finance
Over 60% consumers in urban India are “newly constrained”, and have experienced a decline in household income or their financial situation has worsened, leading them to consciously watch what they spend due to the pandemic, a new report by NielsenIQ said on Monday. In urban India, 63% consumers fall within this consumer group and are in the top five across countries surveyed. This is higher than the global average of 46%, the report said, adding that consumers’ circumstances and intentions relative to spending has changed. Four consumer cohorts are driving spends in urban India, with these cohorts adapting new coping mechanisms to manage household budgets as consumption trends shift. “The cautionary spending environment means brands will need to be laser-focused on this group's newly emerg...
Indian Bank says customers may face service disruptions this weekend due to software migration

Indian Bank says customers may face service disruptions this weekend due to software migration

Finance
New Delhi: State-owned on Thursday said customers may face inconvenience later this week as it will carry out software migration with respect to its merger with Allahabad Bank. The scheme of amalgamation of Allahabad Bank into Indian Bank came into force from April 1, 2020. "Our bank has scheduled technical migration of CBS/ITMS software of erstwhile Allahabad bank with CBS/ITMS software of Indian Bank on 13-14 February 2021. "As such, some of the services related to banking operations may be disrupted from 9 PM on February 12 to 9 AM on February 15, causing inconvenience to the bank's customers/stakeholders on these dates," Indian Bank said in a regulatory filing. The bank shall take all possible efforts for non-occurrence of any such disruptions and strive for immediate redressal/re...
Rescuers look for survivors of Indian glacier flood disaster

Rescuers look for survivors of Indian glacier flood disaster

Technology
Hundreds of rescue workers were scouring muck-filled ravines and valleys in northern India for survivors after part of a Himalayan glacier broke off, sending a devastating flood downriver that has left at least 31 people dead and 165 missingBy RISHABH R. JAIN Associated PressFebruary 9, 2021, 8:00 AM• 2 min readShare to FacebookShare to TwitterEmail this articleJOSHIMATH, India -- Hundreds of rescue workers were scouring muck-filled ravines and valleys in northern India on Tuesday looking for survivors after part of a Himalayan glacier broke off, unleashing a devastating flood that has left at least 31 people dead and 165 missing.One of the rescue efforts is focused on a tunnel at a hydroelectric power plant where more than three dozen workers have been out of contact since the flood occur...
COVID impact: Nearly half of Indian millennials report increased borrowing in Aug-Sep

COVID impact: Nearly half of Indian millennials report increased borrowing in Aug-Sep

Finance
Mumbai: Nearly half of Indian millennials surveyed by a foreign bank have reported an increase in borrowing in August-September amid COVID-19 pandemic. The survey by British lender Standard Chartered also said that the millennials – defined as those born after 1981 – are finding it "highly challenging" to manage their day-to-day expenses such as household bills as compared to other segments. It can be noted that the pandemic has resulted in heavy job losses across the country, especially in the organised segment as economic activity came to a halt. However, activity has improved lately with the unlock measures and the GDP is now expected to contract by a lesser degree than originally feared. The bank surveyed 12,000 adults across 12 countries, including India, between September 25 to Octob...