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Local banks offer relief to help borrowers and themselves in COVID crisis

first_img“We realize that MSMEs are facing a tough time because of COVID-19. That’s why we have tried to come up with a way to ensure debtors in this segment can get through this tough time,” vice president director Hery Gunardy said in the statement issued on March 24.The bank’s corporate secretary, Rully Setiawan, explained on Friday that, in addition to corporate borrowers, borrowers of automotive loans and app-based motorcycle taxi drivers would be given similar relief.Read also: ‘It’s time to work together’: Comradeship among SMEsState-owned Bank Rakyat Indonesia (BRI) said it would provide relief in the form of extended repayment periods, adjusted interest rates, deferred loan repayment as well as reduced penalties. Companies engaged in the sectors of tourism, transportation, hotel, trade, manufacturing, agriculture and mining would be given priority in applying for the relief, BRI president director Sunarso said in a statement.The relief would vary for each debtor, as the bank would factor in a business’s prospects and repayment capacity, said Sunarso.The move followed a new rule issued by the Financial Services Authority (OJK) on March 19 that requires banks to provide relief in the form of loan restructuring to ease the financial difficulties faced by borrowers affected by the coronavirus crisis. The OJK proposed that relief be given to borrowers with a loan ceiling of Rp 10 billion.Read also: COVID-19 impacts across Indonesia’s business sectors: A recapIn a statement on March 24, President Joko “Jokowi” Widodo had called on banks to defer by one year loan repayments by business owners, app-taxi drivers and fishermen hit by the COVID-19 crisis.“Banks and nonbanking financing firms are banned from chasing after loan instalments, especially using debt collectors. It is prohibited and I’m asking the police to [oversee] the matter,” the President said in a teleconference with the media.Meanwhile, the OJK announced on Monday that a number of local banks had agreed to provide relief to customers affected by the coronavirus outbreak.”Banks that have offered relief include Bank Mandiri, BRI, Bank Negara Indonesia, Panin Bank, Bank Permata, Bank BTPN, DBS Bank, Index Bank and Ganesha,” OJK spokesperson Sekar Putih Djarot said in a statement.Read also: Jokowi relaxes loan settlements to help small businesses cope with COVID-19 effectsMost of the banks have provided relief in the form of deferred loan repayment and reduced administrative fees.Panin Bank and Bank Permata, for example, provide relief in the form of an extended loan repayment period, a delay in the repayment of loan principal and an adjustment in lending rates.Meanwhile BTPN said the relief would also be given to borrowers engaged in the informal sector, especially MMSEs.Although the new OJK rule does not stipulate that all banks are obligated to relax loan terms, Bank Permata economist Josua Pardede said banks were likely to comply with the rule.“The relaxation could significantly help banks to at least maintain their performance until next year and prevent their nonperforming loan (NPL) ratio form rising too fast due to the pandemic,” he said.Read also: Battered by virus: Businesses across Indonesia feel the pinchWith the leniency applied by the banks, Josua projected the banking industry’s NPL ratio to rise only to 3 percent this year from last year’s 2.52 percent.Despite the expected positive impact of the leniency on banks’ performance, he believes banks will be selective in providing relief as they remain prudent to prevent misuse by irresponsible parties.For this reason, Indonesia SMEs Association chairman Ikhsan Ingratubun said he hoped banks would be transparent toward the OJK in their loan assessments.“We also hope that the OJK can create clear sanctions on multifinance firms that still use debt collectors and go about their business as usual to protect us while we face this ordeal,” said Ikhsan. A number of local banks have announced relief programs to help corporate and individual borrowers cope with uncertainties caused by the coronavirus outbreak, which has severely hit business activities in the country.State-owned lender Bank Mandiri said it would provide relief in the form of deferral of loan payments and a reduction of administrative fees for borrowers with a loan ceiling of up to Rp 10 billion (US$624,221), especially micro, small and medium enterprises (MSMEs).center_img Topics :last_img read more

I’m gay. I oppose gay marriage. Am I a bigot?

first_imgMail Online 12 June 2012Despite the opposition of every major faith group — notably the Catholic Church — Mr Cameron is arrogantly pressing ahead with an issue which excites his chums in the metropolitan elite, but which disregards the sentiments of millions of ordinary people who, as poll after poll has shown, are against it. Even some of the Prime Minister’s admirers concede that the policy has less to do with offering equality to the gay community and more to do with decontaminating the allegedly ‘toxic’ Tory brand. Perhaps the Prime Minister has calculated that anyone who stands up and argues against his proposals will be branded a homophobe and a bigot.Well, Mr Cameron, I am a Conservative and a homosexual, and I oppose gay marriage. Am I a bigot? And what about Alan Duncan, the first Conservative MP to come out as gay? Mr Duncan, the International Aid Minister who is in a civil partnership, is implacably opposed to gay marriage. So is Dr David Starkey, the celebrated historian, who is openly gay. The Labour MP Ben Bradshaw, meanwhile, who was the first Cabinet minister to enter into a civil partnership, is contemptuous of Mr Cameron’s motive for smashing down centuries of traditional Church teaching in reference to marriage. He’s right. It’s yet another sop to the wretched Lib Dems, even though they number only 57 of the 650 MPs at Westminster.http://www.dailymail.co.uk/debate/article-2158416/I-m-gay-man-opposes-gay-marriage-Does-make-ME-bigot–Mr-Cameron.htmllast_img read more

How Vain

first_imgRecently I read an article about Gene Keady and his famous hair piece.  It was reported that Gene spent $600 a week for his famous comb over.  Not only did he have this comb over hair piece, he also added hair extensions to cover more of his baldness.If the hair piece alone wasn’t enough, he went to a hairdresser twice a week to further dye the hair, add cream, and get it combed out in an attempt to look good on TV.  Most people would tell you that it didn’t work!Today if you see a St. John’s men’s basketball game on TV, you will see a very bald headed Gene Keady sitting on the bench.  He is now an assistant coach for a former assistant of his, Steve Lavin.  Steve is the head coach at St. John’s.  He went back to coaching after a stint as a TV commentator.last_img read more

10 Tech Jobs Where Women Earn Less

first_imgTech is one of several industries under the microscope when it comes to equal pay for equal work. But according to Glassdoor’s new research report titled Demystifying the Gender Pay Gap, the tech industry, like all industries, has some room for improvement when it comes to closing pay gaps between men and women.According to the research, within the U.S., the unadjusted pay gap between men and women is 24.1%, meaning women earn, on average, 76 cents ($0.76) for every $1.00 men earn. However, when controls are factored in (controls such as age, experience, level of education, occupation, industry, location, year, company and job title), the adjusted pay gap between men and women is 5.4%, meaning women earn, on average, $0.95 for every $1.00 men earn.When looking at the tech sector, however, the pay gap between men and women is slightly bigger than this adjusted average, standing at 5.9%, meaning within the tech industry, women earn, on average, $0.94 for every $1.00 men earn.In addition, all tech-related occupations are not created equal. Within the tech industry, our research has also identified the 10 tech jobs where the pay gap between men and women is biggest:10 Tech Jobs Where Women Earn Less*1. Computer Programmer28.3% base pay differenceWomen earn $0.72 for every $1.00 men earn2. Game Artist15.8% base pay differenceWomen earn $0.84 for every $1.00 men earn3. Information Security Specialist14.7% base pay differenceWomen earn $0.85 for every $1.00 men earn4. Data Specialist13.6% base pay differenceWomen earn $0.86 for every $1.00 men earn5. Software Architect10.6% base pay differenceWomen earn $0.89 for every $1.00 men earn6. SEO Strategist10.2% base pay differenceWomen earn $0.90 for every $1.00 men earn7. Front End Engineer9.7% base pay differenceWomen earn $0.90 for every $1.00 men earn8. Database Engineer9.7% base pay differenceWomen earn $0.90 for every $1.00 men earn9. Sharepoint Developer9.2% base pay differenceWomen earn $0.91 for every $1.00 men earn10. SAP Developer8.4% base pay differenceWomen earn $0.92 for every $1.00 men earnCurious how some other tech jobs compare in terms of pay between men and women? Here are a few more for additional perspective:Software Engineer6.0% base pay differenceWomen earn $0.94 for every $1.00 men earnProduct Manager4.3% base pay differenceWomen earn $0.96 for every $1.00 men earnMobile Developer2.9% base pay differenceWomen earn $0.97 for every $1.00 men earnWhy do we see these trends in tech occupations?Despite progress in recent years, most tech jobs today remain male-dominated roles. This fact may influence pay setting, promotions, and whether the best and brightest women feel welcome in these positions.In general, we see the biggest gender pay gaps in the most advanced and highly paid jobs, both in tech and across other industries. Computer programmer is a job that fits this pattern, as it is an advanced and older tech role that includes many scientific coders and programmers for advanced applications such as mainframe computers.One bright spot is that a handful of tech jobs have gender pay gaps that are smaller than the U.S. average.Here at Glassdoor, we believe in equal pay for equal work and provide a platform for employers who want to pledge their commitment to equitable pay practices. More than 1,700 employers to date, including several in tech, have pledged to pay women and men equally for equal work and experience.Curious how other industries compare for pay between men and women? Want to know what factors contribute to the gender pay gap and what can be done to eliminate pay gaps? Read more in our research report, Demystifying the Gender Pay Gap.Plus, check out the jobs in which women earn less, about the same and more than men.Share your salary anonymously and help countless others negotiate fair pay regardless of gender.*For the purposes of this blog post, “job” and “job title” are used interchangeably with “occupation,” which is the term used in the official research report, Demystifying the Gender Pay Gap. As noted in the full report, sample size per occupation differs. The 10 Tech Jobs Where Women Earn Less is based on jobs (occupations) from the full data set in which men earn more than women.last_img read more