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.
As the coronavirus has put every sports activity on a halt in the past months leading to financial loss for the related clubs, the players of Sheffield United have agreed to “partial pay and relevant bonus deferrals”.
“Proving that the Blades are totally united, the players have mirrored the senior management by agreeing to partial pay and relevant bonus deferrals during the current Covid-19 pandemic,” said the club in a statement on Tuesday.
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“It was announced on Monday that manager Chris Wilder, members of his backroom staff and chief executive officer Stephen Bettis agreed to the measures for six months to assist the Football Club’s cash flow issues.
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“And now the entire professional playing staff have emulated the decision, accepting a partial pay deferral, plus bonus payments, until the end of 2020, amid uncertainty regarding the timing for a return to action,” the statement added.
Blades’ CEO Bettis sympathised with those directly affected by the issues related to COVID-19 and thanked his players for their kind gesture.
“First and foremost, our thoughts remain with those directly affected by the issues related to Covid-19,” said Bettis.
“I am pleased that we have reached an agreement with our first-team players, manager and backroom staff to help support the Club,” he added.
Due to the loss incurred by the novel Coronavirus, Arsenal on Monday announced a 12.5% salary cut for their players and staff and became the first Premier League club to implement the move. The wage cut will come into effect from April.
Meanwhile, the Premier League have extended the suspension of the 2019/20 season beyond May and said it “will only return when it is safe and appropriate to do so” amid the deadly outbreak of the COVID-19 pandemic.
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