Deadlier than Corona!

Invisible virus Corona has shaken the entire world!  Till yesterday, it has engulfed 154 countries, infected 2,86,932+ people and killed 11,906 persons.  Italy's figures of 793 deaths (on 21st March) is scary. World's most powerful country USA is virtually shut down with fears of fatal spread. With only 315 infections and 4 deaths, India's figures are only looking deceptive.  Experts have warned that coming days are very crucial!

Virus attacks on mankind is not new.  The worst of them is the 'Spanish flu 1918' which lasted for 2 years till end of 1920.  Its attack period virtually extended the disastrous effects of World War I (1914-18). Spanish flu's death estimate of about 50 millions to 100 millions (about 5% of then world's population) had virtually eclipsed the first World War's toll which killed 9 millions soldiers and 7 million civilians.  Even in India about 15 million people became victims due to Spanish flu. 

Spanish flu was first of the two pandemics caused by H1N1 influenza virus, second being the 'Swine flu' of 2009. Doctors unsuccessfully tried to cure it with 'aspirin'.  Ultimately the virus weathered down on its own.  Strangely Spanish flu killed more youth and the middle-aged than the old!

Virus attacks are natural and man can do little to avoid their occurrence.  Unfortunately man-made disasters are bigger killers than the virus attacks. 

Road accidents kill about 1.5 million people every year around the world and the figures are ever increasing.  90% of these deaths occur in low and middle income countries and most killed are young people.  The reasons for road accidents include rash driving, bad roads, liquor consumption and over-crowded roads. 

Surprisingly the biggest killer of mankind is 'hunger'.  As per UNO estimation, about 800 million people, the world over suffer from hunger which is more than 10% of world population.  About 25,000 people die every day because of hunger, which adds up to about 10 million deaths every year.  

Both the vaccine and the medicine for combating hunger are known to all of us. That is providing them food!  But not many care for this easy solution as hunger kills only poor whereas virus kills even the rich!

Hunger is rampant in Asian and African countries.  Hunger in children causes stunted physical and mental growth affecting the entire generation to come.  Mothers who are malnourished invariably give birth to weak children.  An interesting observation is that the education level of the mothers greatly influences the level of nourishment provided to children.  As per one study India is faring worse than her smaller neighbours, Srilanka and Bangladesh in combating hunger, malnutrition and child mortality!  

As per another estimate every year, food worth 750 billion dollars are wasted all over the world, whereas food worth 30 billion dollars annually is enough to combat world hunger! Strange that the mother earth is providing food for all, whereas man does not know how to make it reachable to the needy.  

All these doesn't mean that we can downplay the threat of Corona.  Let us take a pledge today on the occasion of  'Janata Curfew' to resolve and restrict ourselves for combating the ugly virus.  

Let's clap, ring bells and blow conchs at 5 pm today from our roof-tops, for thanking all those who are working tirelessly for fighting Corona.

Short live Corona!

Long live mankind!!

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CORONOMICS CURE

Corona virus is a deadly killer.  But it is proving more deadly for the world economy.  Rapidly spreading Corona is engulfing the entire world, leading to shattering of stock markets, travel, tourism and trade.  Schools and colleges are being closed.  India's top brand IPL-2020 is postponed.  Even the Japan Olympics scheduled for July-Aug 2020 is under serious threat! Already limping world economy is heading towards deep recession.  Nobody knows how long it may stretch?

Crumbling crude oil price has brought more anxiety than cheers.  Gains of lower oil prices may be more than wiped out for India, by its poorly performing economy. US dollar has gone up to IRs.74.

Yes Bank crisis may not have anything to do with Corona. It's a case of reckless lending by a notorious management with vested interests.  Burden of bailing out always falls on the Government which has lost no time in choosing SBI for the rescue act.  Saner sense seems to be prevailing, as private bodies like HDFC, ICICI too are being roped in for bail-out process.  But the role played by the regulator RBI and bank auditors which could not prevent the decay also must come under scanner! It's time RBI comes out with a rating of safety of banks from depositors point of view.  Customers certainly have a right to know!

With the looming recession, more NPAs are bound to confront all banks.  Less said the better about NBFCs!  IL & FS and DHFL may only be a tip of the ice-berg.  Telcom giants like Airtel and Vodafone too are asking for their pound of flesh.  Will Government be able to pull out all these white elephants?  It may take longer time to contain the impact of Coronomics than Corona itself!

We the people are more concerned about safeguarding our investments.  Especially the senior citizens, most of whom depend on returns from investments are really worried.  They have already fulfilled all their family responsibilities.  Still they have to look after themselves.  Health care is always a matter of concern.  Even the monthly expenses are ever increasing.  Food expenses may be a small fraction, but the cost of services and repairs is asking for the bigger piece of the pie! Stock market uncertainty will certainly loom longer this time. They have to tread with caution although they need not exit from the market. Where do they go from here?

While the bank deposit rates have dropped down to below 6%, National Small Savings Schemes (administered through Post Offices and Banks) are still attractive.  The flag-ship scheme among them is the 'Senior Citizens Savings Scheme (SCSS)' which carries 8.6% (Interest payable quarterly) with an investment cap of Rs.15 lakhs per head!  Other schemes too are quite attractive.  Post Office Fixed deposits of 1, 2, 3 and 5 years (Max 7.7%, no investment cap) carry much better rates when compared to banks.  

LIC's Pradhan Mantri Vaya Vandana Yojana is one more attractive 10 year scheme with an interest rate of 8% (payable montly, with return of corpus at the end).  Interest is payable on monthly basis.  But the investment cap per person is 15 lakhs.

LIC's Jeevan Shanthi which assures 5.6% (payable monthly, with return of corpus at the end) return till the end of lives of husband and wife was looked down so far as low yielding.  But with bank deposit rates dropping below 6%, suddenly Jeevan Shanthi has caught attention of even experts.  Moreover there is no cap on investments.  Ten years from now, who knows?  The bank deposit rates may fall much below 5.6%!

One has to hurry-up as these interest rates may revised downwards after 31st March 2020 or even earlier!

The old adage says 'don't keep all your eggs in a single basket'.  Also the master investment guideline says 'higher the age, lower the risk'.  'Not taking a risk is also a risk' is one more prescription and it may not be inapplicable for seniors too!  Therefore we, especially seniors, have to work out a balanced healthy portfolio out of our hard earned funds, so that risk and returns are optimized. We don't know how to conquer Corona, but certainly we can find a cure for the ills of Coronomics!

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P.S.: I had a family health cover of 10 lakhs till 31-12-2019 under the Group policy of my employer.  I had applied for availing continued health cover even after my relief from the job, but there was no response from the insurer.  A fortnight ago, I complained to IRDAI and because of their intervention, the Insurer has now come forward to give me the continued cover.  

Also seniors may forget renewing the health cover in time.  Losing health cover at advanced age is certainly dangerous.  Therefore I suggest that we all individually and collectively will have to appeal to IRDAI to come out with a single premium health policy which assures continuous health cover till death.

T20 Finals on Women's Day

Tomorrow's International Women's Day (8th March 2020) is memorable for us.  Our women cricketers will be fighting for the T20-World Cup title against current champions Australia at Melbourne, Australia.

It's maiden appearance for India in the finals, whereas it is the seventh for Australia, who are already five time champions.  India have the psychological advantage of beating Australia in their opening match of this tourney.  Poonam Yadav's (2nd in row below) magical leg spin spell helped our team in containing the hosts.

Shefali Verma (1st in row below) has hit a purple patch in this tournament.  Her quick-fire batting was helpful in winning over New Zealand and Srilanka.  While Radha Yadav's  (3rd in row below) 4-wicket haul proved too much for Sri Lanka, Veda's (last in the row) lightning 20 runs of only 11 balls sealed the fate of Bangladesh.

Rain-washed semi-finals against England has robbed the much needed match-practice for our team.  They have not played a match since last 8 days, which has caused some concern.  

It's also time to remember our veteran women cricketers.  Shantha Rangaswamy (left top) was India's first Test captain during 1976 against West Indies.  She was also the first Indian Woman to hit a century against New Zealand in Dunedin (1977).  She also rose to become General Manager for Canara Bank.

Mithali Raj (right top) with her over 10,000 runs in international cricket is rightly called as the Tendulkar of Women's cricket.  

Let's wish our 'girls' all the best for tomorrow's finals and let us hope that they will win the cup to make us proud on the eve of International Women's Day!

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