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RBI paper suggests caps on NBFCs IPO, real estate financing, tighter regulations

RBI paper suggests caps on NBFCs IPO, real estate financing, tighter regulations

Finance
Mumbai: A Reserve Bank of India (RBI) discussion paper on a new regulatory framework for non banking finance companies (NBFCs) has proposed a cap on lending by NBFCs to subscriptions in initial public offerings (IPOs) and in lending to real estate unless government approvals are obtained. The new norms which were put in the public domain for discussion on Friday, said the internal ceiling on sensitive sectors for NBFCs should separately disclose capital market and commercial real estate exposures. IPO financing by NBFCs, a large business for some of these companies has come under close scrutiny, as while there is a limit of Ra 10 lakh for banks financing IPOs, there is no such limit for NBFCs. "Taking in to account the unique business model of NBFCs, it is proposed to fix a ceiling of Rs ...
Is lockdown 3 working? Data suggests people have become used to bending the rules

Is lockdown 3 working? Data suggests people have become used to bending the rules

Technology
On 4 January, Boris Johnson told England to stay at home. Again.Last time this happened the response was almost universal. Movement plummeted, falling by every available measure. Transport app Citymapper tracks how many people plan journeys in London, Manchester, and Birmingham. It doesn't track car trips but it captures everything else.According to its data, journeys during the first lockdown fell to less than 10% of pre-pandemic levels, and stayed that way for days.On the streets of England's cities, every day in was like Christmas Day. Advertisement ...
Study suggests COVID-19 may have remained in Wuhan past April

Study suggests COVID-19 may have remained in Wuhan past April

Health
Jan. 7 (UPI) -- The COVID-19 outbreak in Wuhan, China may have lasted into May, according to an analysis published Thursday by PLOS Neglected Tropical Diseases. If accurate, the findings are significant given that Chinese officials declared the city free of the virus and lifted lockdown restrictions there in April. Advertisement "We conclude that ... a large amount of asymptomatic carriers of [the new coronavirus] existed after elimination of clinical cases of COVID-19 in Wuhan City," the researchers wrote. The global pandemic is believed to have started in the city, and it accounted for nearly two-thirds of the more than 96,000 cases of infection reported in China, according to figures from Johns Hopkins University. However, as of Thursday, World Health Organization officials attempting...
Global warming to keep driving winds poleward, deep sea dust suggests

Global warming to keep driving winds poleward, deep sea dust suggests

Science
Jan. 6 (UPI) -- New analysis of dust grains dredged from the bottom of the North Pacific suggests the westerlies moved toward the poles during the warmest stretches of the Pliocene, between 3 and 5 million years ago. Scientists on Wednesday published their findings in the journal Nature. Advertisement The westerlies, sometimes called the anti-trades, are a series of prevailing winds blowing from west to east across the middle latitudes. Over the last several decades, scientists have noticed the winds slowly migrating away from the equator, inching into higher and higher latitudes. "Much of the work that has been done in describing changes to the westerlies over the last several decades suggests that warming caused by greenhouse gases may be a major contributor to this movement of the wes...
Ancient DNA suggests people from Philippines may have settled Mariana Islands

Ancient DNA suggests people from Philippines may have settled Mariana Islands

Science
Dec. 22 (UPI) -- New research suggests people from the Philippines may have first settled the Mariana Islands. According to the study, published online this week in the journal PNAS, early inhabitants of the Mariana Islands and Polynesia shared common ancestors. Numerous studies have investigated the origins of the first Polynesian settlers, but little attention has been given to the peopling of the Mariana Islands, situated more than 1,600 miles east of the Philippines. Advertisement Positioned next the world's deepest ocean trench in the Western Pacific, the Mariana Islands were settled roughly 3,500 year, only slightly earlier than the initial peopling of Polynesia, roughly 5,000 miles east-southeast. "We know more about the settlement of Polynesia than we do about the settlement of th...