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Hindustan Times
20 hours ago
- Climate
- Hindustan Times
Uttarakhand National Highway blocked amid heavy rains; several states under orange alert as relief likely for Delhi-NCR
While Delhi-NCR still awaits monsoon rains, The India Meteorological Department (IMD) has sounded orange alerts for districts in Gujarat, Uttarakhand, Maharashtra, and Kerala as well as for isolated places in other states. The weather department has forecast heavy to very heavy rainfall at isolated places over the Western Ghats.(Hindustan Times) The weather department sounded an orange alert in five districts of Kerala, namely Pathanamthitta, Kottayam, Idukki, Malappuram and Wayanad. Authorities have made arrangements to evacuate 3,220 people residing in low-lying areas in Idukki district. In Uttarakhand, the Badrinath National Highway near Nandprayag and Bhaneropani was blocked amid continuous heavy rainfall. 'The Badrinath National Highway is blocked near Nandprayag and Bhanerpani. Work is underway to open the road,' the Chamoli police in Uttarakhand said in a post on their official X handle. The National Highway is a key route for pilgrims to travel to Kedarnath. Parts of Jammu and Kashmir are also on an orange alert, day after a rise in the water level of River Chenab amid heavy rainfall in the region. Due to this, the Ramban district administration has issued an advisory banning all movements near the river. Rain, thunderstorm likely in Delhi-NCR Delhi-NCR might finally receive light to moderate showers today, with the weather department sounding a yellow alert for the region. The weather department has predicted rain with thunderstorms for Delhi-NCR on Saturday and Sunday. The national capital on Saturday recorded a minimum temperature of 28.7 degrees Celsius, with the maximum temperature expected to reach 37 degrees Celsius. 53 roads closed amid heavy rains in Himachal, death toll in flash floods reaches 6 Amid moderate to heavy rains in Himachal Pradesh, 53 roads were closed, restricting traffic movement on these routes, according to PTI news agency. Of these, 23 roads were blocked in Kullu, 16 in Mandi, seven in Lahaul and Spiti, four in Una and three in Sirmaur districts, PTI quoted the state emergency operation centre as saying. The local met office in the state has issued an orange alert for Sunday, with light to moderate rainfall likely at most places on Friday, Sunday and Monday. Meanwhile, the death toll in the flash floods which occurred on Wednesday in Kangra reached six as one more body was recovered, PTI quoted officials as saying. The search and rescue operations, being undertaken by National Disaster Response Force (NDRF), State Disaster Response Force (SDRF), police and home guards, were disrupted due to rainfall. The search for two more persons resumed Saturday morning, Additional Superintendent of Police (ASP), Kangra, Aditi Singh, said. Uttarakhand bus accident toll rises to 4 as violent currents hinder search ops The toll in the bus accident which took place in Rudraprayag has risen to four, as another body was recovered on Friday from the Alaknanda river. The bus, which was carrying 20 pilgrims to Badrinath, swerved off the road and plunged into the Alaknanda river near Gholtir. With eight people still missing, search and rescue operations are underway, Superintendent of Police Akshay Prahlad Konde told PTI. However, members of the rescue teams said that the search for the bus and missing people is challenging because of the strong current in the river at present, amid continuous rainfall in the state. A member from the SDRF deep divers team said that diving is also not possible because of the muddy waters, which compromises vision. Key weather updates Heavy rainfall over Goa, Punjab, Himachal and other states The weather department has forecast heavy to very heavy rainfall at isolated places over the Western Ghats, including Konkan and Goa, Ghat areas of central Maharashtra and Gujarat over the next seven days. Meanwhile, heavy rainfall is also likely over isolated places in Punjab, Haryana, Uttarakhand, Himachal Pradesh, and East Rajasthan from June 28 to July 3. Very heavy rainfall might be witnessed over Himachal Pradesh and Punjab on June 29, Haryana on June 29 and June 30, Uttarakhand between June 28 to July 1, and Uttar Pradesh between June 29 to July 2. In East and Central India, heavy rainfall is forecast over Madhya Pradesh, Chattisgarh, Odisha, Jharkhand, Bihar, West Bengal and Sikkim during June 28 to July 3. Very heavy rainfall is also predicted in Gangetic West Bengal on June 29 and June 30, in Odisha on June 30 and July 1, and in Jharkhand on June 29. Very heavy rainfall will also occur in Arunachal Pradesh in the North East and Tamil Nadu, coastal Karnataka, and parts of Kerala in South India. Thunderstorm, lightning over Andaman & Nicobar, coastal Andhra Pradesh, Telangana Thunderstorms accompanied by lightning and gusty wind speed reaching 40-50 kmph is predicted over parts of Andaman &Nicobar Islands, Madhya Pradesh, Vidarbha, Chattisgarh, Jharkhand, Gangetic West Bengal, Bihar, Jharkhand and Odisha over the next week. Thunderstorm and lightning will be witnessed over isolated parts of coastal Andhra Pradesh and Yanam, Telangana, and interior Karnataka over the next seven dayss.
The Hindu
02-06-2025
- Business
- The Hindu
Tamil Nadu sees drop in microfinance gross loan portfolio in fiscal 2025
The Gross Loan Portfolio (GLP) of the microfinance industry in Tamil Nadu has declined in fiscal 2025, influenced by anticipated ordinances and increased regulatory intervention on collection practices, according to CRIF High Mark, a credit bureau. According to data from CRIF, the GLP in Tamil Nadu declined by 19.6% to ₹46,800 crore in fiscal 2025, from ₹58,200 crore in fiscal 2024. On a quarter-on-quarter basis, the GLP fell 7.7%, from ₹50,700 crore. Tamil Nadu (-7.7%, quarter-on-quarter basis), followed by Karnataka (-7.0% quarter-on-quarter basis), recorded steep GLP decline. State-level data revealed notable contractions in Tamil Nadu and Karnataka portfolios, influenced by anticipated ordinances and increased regulatory intervention on collection practices, the credit bureau said. Overall, the microfinance industry's GLP stood at ₹381.2K crore as of March 2025, marking a 2.6% decline quarter-on-quarter and a 13.9% drop year-on-year. The Tamil Nadu government has proposed to come out with a legislation aimed at fair collection and recovery practices, signalling further regulatory shifts in the sector, the further impact of which is yet to be seen, CRIF said. In April 2025, the Tamil Nadu Legislative Assembly passed the Tamil Nadu Money Lending (Prevention of Coercive Actions) Act, 2025. The Bill aims to protect and relieve the economically weaker and vulnerable groups and individuals from the undue hardship of coercive means of recovery of any loans by money-lending lending entities, such as microfinance institutions, money-lending agencies, and money-lending organisations. 'The fall in the gross loan portfolio was in line with the national trend. There were numerous factors involved, including the elections, impact of heatwaves and cyclones in some parts, and also over-leverage by borrowers in certain pockets affecting recoveries,' according to Jiji Mammen, executive director and CEO of Sa-Dhan, a self-regulatory organisation for the microfinance industry. The proposed Tamil Nadu legislation clearly excludes regulated entities. He claimed that with the passing of the Bill, some people in certain pockets have tried to take advantage of it by refusing to pay; however, overall, business has remained normal. Sa-Dhan has made a representation to the State government regarding the inclusion of all types of lenders under the 'coercive' clause in the Bill, which can get misrepresented. 'We have sought suitable amendments when the rules are framed to exclude regulated entities from the coercive clause,' he added. Aditi Singh, chief strategy officer, Satin Credit Network Ltd, which has a portfolio of ₹227 crore in Tamil Nadu, said during the initial discussions around the Bill, 'we took a cautious approach by slowing down disbursements in Tamil Nadu to evaluate the on-ground situation. However, after assessing the situation and seeing there is normalcy at the ground level, we gradually resumed business operations.'
