10:50 (IST)
RBI Announcement Latest Updates
RBI taking measures to ensure liquidity in system, assures governor
The RBI has injected liquidity of Rs 2.8 lakh crore via various instruments equal to 1.4 percent of GDP. “Along with today’s measures liquidity measures equal to 3.2% of GDP. RBI will take continuous measures to ensure liquidity in the system,” said Shaktikanta Das in his address.
10:48 (IST)
RBI Announcement Latest Updates
Indian banking system is safe and sound, says Das
The RBI governor assured citizens that the Indian banking system is safe and sound. “In recent past COVID-19 related volatility in stock market has impacted share prices of banks as well resulting in some panic withdrawal of deposits from a few private sector banks.” he said.
He urged people to not panic withdraw their deposits from banks. “Your funds are safe,” he said.
10:43 (IST)
RBI Announcement Latest Updates
NSFR deferred to October
Offshore Rupee NDF Market has been growing rapidly, noted the RBI. Net Stable Funding Ratio (NSFR) which was required to be introduced from April 1, 2020, is now defer to October, 2020.
10:42 (IST)
RBI Announcement Latest Updates
3-month moratorium on all loans
The RBI on Friday announced that all banks, lending institutions may allow a three-month moratorium on all loans. He added that lending companies, banks are allowed tom defer interest on working capital repayments by three months.
Banks may also reassess working capital cycle and will not be treated as non-performing assets, he said. Mitigating debt servicing burden to prevent transmission of financial stress to the real economy, provide relief to borrowers said RBI chief Shaktikanta Das.
He also said that a three-month moratorium has been decided on payment of installments of loans outstanding on 1 March 2020.
10:35 (IST)
RBI Announcement Latest Updates
Cash Reserve Ratio cut by 100 bps to 3%, says RBI governor
The RBI decided to reduce the Cash Reserve Ratio (CRR) of all banks by 100 basis points to 3 percent of Net Demand and Time Liabilities with effect from the fortnight beginning 28 March for a period of 1 year.
The RBI chief said that measures will result in total liquidity injection of Rs 3.74 lakh crore to the system.
10:30 (IST)
RBI Announcement Latest Updates
MPC says global economy to come to ‘standstill’
The MPC (Monetary Policy Committee) has noted that global economic activity has come to a near stand-still as COVID19 related lockdowns and social distancing in affected countries. “Expectations of a shallow recovery in 2020 from 2019’s decade low in global growth have been dashed,” said the RBI chief.
10:29 (IST)
RBI Announcement Latest Updates
LAF cut to 4%; Reverse repo-rate reduced by 90 basic points, says RBI chief
The RBI on Friday cut LAF by 90 bps to 4 percent. It also announced that the Reverse repo-rate has been reduced by 90 basis points to 4%
India has locked down economic activity. Keeping finance flowing is the ‘paramount objective’ of the RBI, while India has locker down economic activity and financial activity is under severe stress, noted the RBI chief.
10:23 (IST)
RBI Announcement Latest Updates
World may slip into recession, says RBI
The RBI governor on Friday said that there was a rising probability that large parts of the world economy could slip into a recession. He noted that tough times were ahead but they don’t last, ‘only tough institutions do’.
10:20 (IST)
RBI Announcement Latest Updates
Repo rate at 4.20% VS earlier 5.15%, says RBI
The RBI governor announced that the Repo rate stands at 4.20 percent now vs 5.15 percent earlier. He also said: “We are not giving out inflation and growth projection numbers due to the uncertain conditions.”
10:18 (IST)
RBI Announcement Latest Updates
If COVID-19 prolongs, supply chain could get disrupted, says RBI
Shaktikanta Das, RBI Governor on Friday said that if COIV19 case prolongs and the supply chain could get disrupted and it could jeopardise India’s growth. “We hope that drop in crude oil prices will help India,” he said.
10:13 (IST)
RBI Announcement Latest Updates
RBI cuts repo rate by 75 basis point
The RBI governor Shaktikanta Das announced that the RBI repo rate was cut by 75 basis points during a media briefing on Friday. The cut has been made to encourage banks to give more to business rather than deposit it with RBI. We hope to mitigate the negative effect of COVID-19 on the economy with these efforts
10:10 (IST)
RBI Announcement Latest Updates
MPC to advance 3 April meeting, says RBI governor
The MPC has decided to advance its meeting due on 3 April was decided for 24, 25, 27 March undertook careful evaluation, said the RBI Governor during the presser on Friday.
10:07 (IST)
RBI Announcement Latest Updates
10:03 (IST)
Coronavirus in India Latest Update
Moody’s slashes India GDP growth in 2020 to 2.5%
Moody’s Investors Service on Friday slashed its estimate of India’s GDP growth during 2020 calendar year to 2.5 percent from an earlier estimate of 5.3 percent, on account of the rising economic cost of the coronavirus pandemic. This compares to a 5 percent growth in 2019.
Moody’s said, at the 2020 estimated growth rate, a sharp fall in incomes in India is likely, further weighing on domestic demand and the pace of recovery in 2021.
09:59 (IST)
Coronavirus in India Latest Updates
Rupee up by 56 paise against US dollar
The rupee appreciated by 56 paise to 74.60 against the US dollar in early trade on Friday, tracking positive opening in domestic equities, as investors awaited positive cues from the Reserve Bank of India to tide through the coronavirus crisis, reports moneycontrol.
09:57 (IST)
Coronavirus in India Latest Updates
RBI chief’s presser comes after Centre declares COVID-19 relief package for poor
RBI chief Shaktikanta Das will address media at 10 am, the central bank has tweeted, as economic uncertainty prevails amid nationwide lockdown over coronavirus pandemic. The RBI Governor’s address comes a day after the central government announced Rs 1.75-lakh-crore stimulus package to help the poor and migrants tackle the financial difficulties arising from the coronavirus (COVID-19) outbreak.
09:53 (IST)
Coronavirus in India Latest Updates
All stocks in green ahead of RBI press meet
At 09:16 hrs IST, the Sensex is up 1,079.02 points or 3.60 percent at 31025.79, and the Nifty up 366.00 points or 4.24 percent at 9007.45, ahead of RBI presser on Friday. About 505 shares have advanced, 62 shares declined, and 34 shares are unchanged.
Follow LIVE updates on Stock Market here
09:43 (IST)
Coronavirus in India Latest Updates
Sensex, Nifty surge ahead of RBI governor presser at 10 AM
Sensex jumped over 1,100 points or 3.25 percent to reclaim 31,000-mark on Friday. The broader Nifty 50 index soared to trade above 9,000 level in the morning session.
Benchmark indices are trading positive in the pre-opening session with Nifty around 8900. At 09:01 hrs IST, the Sensex is up 855.49 points or 2.86 percent at 30802.26, and the Nifty up 257.95 points or 2.99 percent at 8899.40.
Follow LIVE updates on Stock Market here
09:35 (IST)
Coronavirus in India Latest Updates
India proposes online platform for SAARC to jointly fight pandemic
India has proposed setting up of a common electronic platform for all SAARC nations to share expertise and best practices in jointly combating the novel coronavirus.
India made the proposal at a video-conference of senior health officials of the South Asian Association for Regional Cooperation (SAARC) countries on Thursday.
At an India-initiated video-conference of SAARC leaders on 15 March, Prime Minister Narendra Modi had suggested that health professionals of the member nations could come together to jointly fight against the coronavirus pandemic.
09:22 (IST)
Coronavirus in US Latest Update
Mark Blum, Desperately Seeking Susan actor, passes away aged 69
Actor Mark Blum, who starred in Desperately Seeking Susan, Crocodile Dundee and the TV series You, has died due to complications from coronavirus. He was 69.
The Playwrights Horizons theatre group and SAG-AFTRA executive vice president Rebecca Damon confirmed the news on Thursday. Blum ls survived by his wife and fellow actor Zarish, whose credits include Law & Order, Seinfeld, and Blue Bloods.
09:16 (IST)
Coronavirus in India Latest Update
NPPA chairman urges states to facilitate Pharma companies during lockdown
NPPA chairman Shubhra Singh wrote to chief secretaries of all states and union territories requesting them to instruct district administrations to facilitate Pharma companies and ensure unobstructed movement of raw and packaging material and manpower to accomplish work-related to production, packing and distribution during the lockdown.
09:11 (IST)
Coronavirus in India Latest Update
Indian Embassy in US to start free online yoga classes
The Indian Embassy in Washingotn has announced free online yoga classes for the millions of Americans to keep them “healthy” and “cheerful” while they are forced to stay indoors and work from home due to the fast-spreading novel coronavirus that has taken the lives of more than 1,100 people.
The free yoga class would be imparted daily from Monday to Friday at 5 pm. It would be streamed live through the Facebook page of the Indian Embassy.
We are happy to announce the online #Yoga classes during weekdays @ 5 PM EST, starting from Monday, 30 March 2020. The classes will be live streamed through the Embassy ’s Facebook page https://t.co/n86L6UZT7K. Please join in. @MEAIndia @IndianDiplomacy @SandhuTaranjitS pic.twitter.com/sLUfj2EVu0
— India in USA (@IndianEmbassyUS) March 26, 2020
09:04 (IST)
Coronavirus in India Latest Update
RBI governor to address media at 10 am
The governor of Reserve Bank of India, Shaktikanta Das, is set to address a press conference on Friday at 10 am. The RBI chief’s addresses comes a day after the central government announced a coronavirus relief package of worth Rs 1.7 lakh crore. The central bank on Friday took to the official Twitter handle to inform about RBI Governor’s press briefing.
Watch out for RBI Governor @DasShaktikanta address to the media live at 10:00 am today (March 27, 2020) #rbitoday #rbigovernor
YouTube: https://t.co/tUkqOXKusy
Twitter: @RBI
@RBIsayshttps://t.co/X2ON7F8SCw— ReserveBankOfIndia (@RBI) March 27, 2020
08:57 (IST)
Coronavirus in Maharashtra Latest Update
Three patients recover in Pune
Three COVID-19 patients from Pune’s Pimpri-Chinchwad in Maharashtra have tested negative in their repeat samples on Friday. They are expected to be discharged today following due process, Pimpri-Chinchwad Municipal Commissioner Shravan Hardikar told ANI.
The total number of Coronavirus positive cases in Pune district is now at 32, out of which 5 have been already cured and discharged.
08:54 (IST)
Coronavirus in Andaman and Nicobar Islands Latest Update
Second positive case reported in Andamans
A second positive case of COVID19 has been reported from Andamans and Nicobar Island. According to officials, he had traveled with the first positive case. Both patients are currently undergoing in hospital and protocols being followed, Chetan Sanghi, Chief Secretary, Andaman and Nicobar Islands toLD ANI.
08:49 (IST)
Coronavirus in India Latest Update
Narendra Modi pitches for new crisis management protocol at G-20 video conference
As the world reels under the economic and social fallout of the coronavirus outbreak, Prime Minister Narendra Modi on Thursday pitched for developing a new crisis management protocol to deal with global health crisis and urged the powerful G20 grouping to work towards addressing shockwaves triggered by the pandemic.
In his address at an extraordinary videoconference of the G-20 leaders, Modi also urged the grouping to come out with a concrete action plan to fight the pandemic and said human beings rather than economic targets should be put at the centre of its vision for global prosperity and cooperation.
Joined the #G20VirtualSummit earlier today. Various world leaders discussed ways to fight COVID-19. In my remarks, I spoke about the need to place health and human welfare at the top of our global priorities. Here are the highlights. https://t.co/Tt8RaWGahN
— Narendra Modi (@narendramodi) March 26, 2020
08:46 (IST)
Coronavirus in India Latest Update
AIMPLB urges Muslims to offer prayers at home
All India Muslim Personal Law Board (AIMPLB) urged Muslims to offer Zuhur prayers at home instead of praying Jumah at mosques in the view of novel coronavirus outbreak.
“Due to novel coronavirus pandemic, Muslims are recommended to offer Zuhur at home instead of praying Jumah at mosques. Don’t come out for congregational prayers and stay at home to save lives. It is mandatory upon all to avoid causing harm to their fellow citizens. #NoJumahInMasjid,” AIMPLB tweeted.
Mukarram Ahmed, Imam Fatehpuri Masjid said it is need of the hour that people offer prayers at their homes and follow the advisory regarding the lockdown.
At the same time, Don’t leave mosques abandoned. Around 4 individuals should remain in mosques to establish the congregational prayers due to the #RightofMasjid.
— All India Muslim Personal Law Board (@AIMPLB_Official) March 26, 2020
08:40 (IST)
Coronavirus Latest Update
Global job losses could exceed 25 mn, much more than estimated by UN days ago
Global job losses from the coronavirus crisis could far exceed the 25 million estimated just days ago, UN officials said on Thursday, as US jobless claims surged to record levels, starkly showing the scale of the economic disaster.
The International Labour Organization, a UN agency, had estimated a week ago that, based on different scenarios for the impact of the pandemic on growth, the global ranks of the jobless would rise by between 5.3 million and 24.7 million.
However Sangheon Lee, director of the ILO’s employment policy department, told Reuters in Geneva on Thursday that the scale of temporary unemployment, lay-offs and the number of unemployment benefit claims were far higher than first expected.
“We are trying to factor the temporary massive shock into our estimate modelling. The magnitude of fluctuation is much bigger than expected,” he said. “The projection will be much bigger, far higher than the 25 million we estimated.”
08:36 (IST)
Coronavirus in Assam Latest Update
Assam govt sets up account to crowdfund resources
The government of Assam has set up an account for crowdfunding resources to ensure that every step possible was being taken to safeguard the health of people in wake of COVID-19 outbreak. Taking to Twitter, the government shared account details for anyone who wanted to contribute to the fund.
Govt of Assam has been taking every step possible to safeguard health of people in wake of #COVID2019 outbreak. In this hour, every help adds to our strength. Should you wish to contribute, you may do so:
Assam Arogya Nidhi, A/c No. 32124810101, SBI, IFSC Code: SBIN0010755
— Finance Department, Govt of Assam (@AssamFinDept) March 26, 2020
08:31 (IST)
Coronavirus in Bihar Latest Update
27 migrant labourers from Bihar walk 160 km on way to home
A group of 27 migrant labourers, who work in West Bengal’s Hooghly district, walked about 160 km to reach Dumka in Jharkhand on Thursday, failing to get any transport on the way to their homes in Bihar’s Saharsa district, officials said.
They left Hooghly on 23 March and reached Burdwan on some vehicle, officials said, adding that hey failed to any transport over there and started walking. They wanted to go ahead with their journey on foot to reach their homes in Saharsa district, but were not allowed and have been moved to a shelter home in Dumka, sub-divisional officer Rakesh Kumar said.
08:26 (IST)
Coronavirus in Venezuela Latest Update
Venezuela reports its first death
Venezuela has confirmed the country’s first death from the novel coronavirus, Vice President Delcy Rodriguez said in comments broadcast over state television.
08:23 (IST)
Coronavirus in Bangladesh Latest Update
Bangladesh receives more medical equipment from China
A second batch of medical equipment, donated by the Chinese government, has arrived in Dhaka from Kunming, to help Bangladesh tackle the COVID-19 pandemic better on Friday.
Confirming the matter to Dhaka Tribune, Dr Shahriar Sajjad, in-charge of the airport’s medical team, said the equipment included 10,000 testing kits, 10,000 personal protective equipment (PPE) and 1,000 infrared thermometers.
Emergency medical supplies provided by the Chinese government, including 10,000 testing reagents, 15,000 surgical masks, 10,000 medical protective clothing and 1,000 infrared thermometers, has arrived in Bangladesh to help combat #COVID19 https://t.co/n1q09jSHJL pic.twitter.com/KKEkpnxHgZ
— China Xinhua News (@XHNews) March 27, 2020
08:11 (IST)
Coronavirus in Maharashtra Latest Update
50% of Maharashtra’s patients aged 31-50, says report
According to an analysis by Times of India, prepared by the state department on the first 122 COVID-19 cases in the state, has found out that almost half of the patients were in the age group of 31-50 years.
The report also noted the novel virus, which originated in China’s Wuhan, was ‘imported’ in the state as almost 66 percent of the cases in the state had an international travel history.
08:05 (IST)
Coronavirus in US Latest Update
Don’t expect to get back to normal life by April, warns Bill Gates
If you’re hoping to return to normal life, work, and social gatherings by April, be prepared to bunker down for a lot longer, warned Bill Gates at the ongoing CNN town hall on the coronavirus pandemic.
An April resuming of life is “not realistic. The numbers are still going up. That only happens after the numbers have peaked and are going down a lot and getting down to an absolute level,” Gates told CNN on Friday.
“The light is not at the end of the tunnel in terms of a mid-April reopening.” Bill Gates says he doesn’t expect the US will return to normalcy by April. https://t.co/VIlC2DJPeu #CNNTownHall pic.twitter.com/xgZ9KUXFm1
— CNN (@CNN) March 27, 2020
07:58 (IST)
Coronavirus in US Latest Update
US reports most number of confirmed cases in world
Over 16,000 confirmed cases were reported in a single day in the US on Thursday as the total number of COVID-19 patients soared to 85,088, the highest for any country, according to data compiled by Worldometer.
The United States surpassed China (81,285) and Italy (80,589) in terms of number of people infected with the novel coronavirus.
According to Worldometers, the website that records confirmed cases of infection and deaths globally, the US by Thursday night had 85,088 individuals infected with coronavirus, of which 16,877 were added just in a single day. A week ago, the number of confirmed cases were 8,000. It has dangerously surged 10 times in the span of a week.
07:51 (IST)
Coronavirus in Jammu and Kashmir Latest Update
Over 180 people with undeclared recent travel histories traced, shifted into quarantine in Srinagar
Over 180 people with undeclared recent travel histories have been traced and shifted into quarantine in Srinagar, officials said. The Ministry of Health and Family Welfare had earlier on Thursday reported 88 new COVID-19 cases, which is the highest in a single day, taking the total countrywide tally to 694.
COVID-19: Over 180 persons with undeclared recent travel histories have been traced and shifted into quarantine this past week in Srinagar. Some 200 more complaints are being verified. Just hoping no one is infected as it’s just too hard to even imagine the possible consequences.
— Srinagar district administration (@srinagaradmin) March 26, 2020
07:45 (IST)
Coronavirus Latest Update
Half-million infected worldwide as economic toll rises
The human and economic toll of the lockdowns against the coronavirus mounted Thursday as India struggled to feed the multitudes, Italy shut down most of its industry, and a record-shattering 3.3 million Americans applied for unemployment benefits in a single week. The US surpassed the official Chinese government numbers to become the country with the most reported infections.
As the number of cases worldwide reached a half-million and deaths climbed past 23,000, the damage to people’s livelihoods and their well-being from the effort to flatten the rising curve started to come into focus.
07:42 (IST)
Coronavirus in India Latest Update
Relatively stable trend in rate at which coronavirus infection is increasing, says Health Ministry
There has been no solid evidence of community transmission of COVID-19 in India as yet and the infection appears to be relatively stabilising considering the rate at which it is increasing, the health ministry said on Thursday.
At the same, it said the latest figures do not establish a clear trend and in no way, the government is relaxed about anything at this point.
The number of coronavirus cases climbed to 694 in India on Thursday and the death toll rose to 16, according to the Health Ministry.
Lav Agarwal, Joint Secretary in the ministry of health, told a press conference that while the “numbers of COVID-19 cases are increasing, there appears to be relatively a stable trend or even little bit reduction in the rate at which they are increasing”.
“This, however, does not establish a clear trend and in no way are we relaxed about anything at this point,” he added.
07:28 (IST)
Coronavirus in Rajasthan Latest Update
Patient dies in Rajashthan; cases in state rise to 43
A COVID-19 positive patient, who had comorbid conditions including diseases relating to kidney and blood pressure, has died in Rajasthan’s Bhilwara.
“A COVID-19 positive person has died in Bhilwara, Rajasthan. He had other conditions including diseases relating to kidney and blood pressure,” said Rajan Nanda, Principal, Mahatma Gandhi Hospital told ANI.
On Thursday, five more people were tested positive for COVID-19, taking the total positive cases in the state to 43, according to Rajasthan Health Department.
Curfew has been imposed in one km radius of the person who tested positive in Ramganj area of Jaipur as it is a highly congested area. According to Rajasthan Health Department Additional Chief Secretary Rohit Kumar Singh, intense contact tracing has started.
07:24 (IST)
Coronavirus in West Bengal Latest Update
Over 450 held in Kolkata for defying lockdown order
Over 450 people have been arrested in the city in the last 24 hours since Wednesday at 5 pm for defying the lockdown order imposed by the West Bengal government to contain the spread of the disease, a senior police officer said.
The arrests were made by the Kolkata Police during Naka-checking and patrolling across the city, he said. A total of 453 people have been arrested by the city police in the last 24 hours till 5 pm on Thursday for violating the Total Safety Restrictions, he said.
Of the 453 apprehended, 112 are from the north division and 75 from the eastern suburban division, the police officer said. As many as 65 offenders have been arrested from the south suburban and 62 more from the central division, he said.
07:14 (IST)
Coronavirus in Madhya Pradesh Latest Update
Cases in MP climb to 27
The number of coronavirus cases in Madhya Pradesh rose to 27 on Thursday. The death toll of COVID patients in the state also increased to two, with a man who had died in Indore on Wednesday testing positive for the disease.
So far, 15 coronavirus cases have been reported in Indore, six in Jabalpur, two in Bhopal and Shivpuri and one in Gwalior and Ujjain, a senior health department official said. Ten new cases were found in Indore.
07:09 (IST)
Coronavirus in India Latest update
Cases rise to 694 as India reports highest single-day rise
India saw the highest rise in novel coronavirus cases in a single day on Thursday, even as the Central Government announced a Rs 1.7 lakh crore fund aimed mainly at underprivileged sections of the society. The health ministry said that 88 new cases of the novel coronavirus were reported in the country in a day, taking the total number of infections in India to 694.
