Policy balance
The recent appointment of Sanjay Malhotra as Governor of the Reserve Bank of India (RBI), replacing Shaktikanta Das, signals a pivotal shift in India’s monetary policy dynamics.
With the league on hold, the NBA and the National Basketball Players Association (NBPA) has announced that they have reached agreement on the method for reducing player compensation in the event of permanent cancellation of 2019-20 regular season or playoff games due to the COVID-19 pandemic.
“Through this agreement, and in order to provide players with a more gradual salary reduction schedule, partial reductions of 25 per cent will begin with the players’ twice-a-month payment due on May 15,” NBA said in a statement.
Advertisement
The league noted that the collective bargaining agreement between the league and NBPA stipulates that compensation of all players will be reduced in the case of a “force majeure” event such as an epidemic or government order.
Advertisement
The amount of salary lost is calculated based on the number of games missed.
NBA has been suspended since March 11 due to the outbreak of novel coronavirus. However, players have continued to receive their full salaries and are to receive their full wages on May 1.
The NBA was forced to suspend the season indefinitely after a Utah Jazz player tested positive for coronavirus. NBA star Kevin Durant also was among the four basketball players from Brooklyn Nets who have tested positive.
Advertisement
