Facebook announced that it will provide more financial support for the news industry working during the COVID-19 pandemic. The investment fund includes USD 25 million in emergency grant funding for local news through the Facebook Journalism Project and USD 75 million in additional marketing spend, the official blog notes. The first round of the grants went to 50 local newsrooms in the US and Canada. Publishers used the grant to support coverage through covering travel costs, remote work capabilities and hiring freelance reporters. Facebook is working on providing support to publishers most in need in the hardest-hit countries.
Sanitisation drive was conducted at Bharat Petroleum plant in UP's Ghaziabad. Four layers of sanitisation were done amid coronavirus outbreak. Cylinders were also disinfected during the process. Keeping in mind the current situation, social distance was maintained during the process.
Defence Research and Development Organisation Chairman G. Satheesh Reddy on March 30 informed that the organisation has developed a mechanism with which one ventilator can be used by multiple patients. "In case, there is a large number of patients and a shortage of ventilators, then we can use one ventilator for multiple patients," said Reddy. Reddy asserted that the ventilator has been tested in a couple of hospitals and a couple of doctors, and it is working fine. "That ventilator has been tested in a couple of hospitals and a couple of doctors, and it is working. Medical experts have given more suggestions to us. Probably in the next couple of days, we'll be ready with the final product with new features added to it," He added.
Migrant workers who have returned to the various villages of UP's Etawah district from Delhi and other places, are being quarantined at the local primary schools and junior schools which have been turned into quarantine centres. District Magistrate Jitendra Bahadur Singh said, "People were returning in large numbers so it was difficult to determine who all have been tested. So we sought a list of all such people from all village heads. Then they were put under quarantine. They'll be sent home if they don't show any symptom."
Equity benchmark indices traded weak during early hours on Monday in line with Asian peers as fears mounted over the rising cases of coronavirus and economic impact of lockdown in most parts of the world. At 10:15 am, the BSE SandP Sensex was down by 575 points or 1.93 per cent to 29,241 while the Nifty 50 edged lower by 178 points or 2.06 per cent to 8,482. Except for Nifty IT and pharma, all sectoral indices at the National Stock Exchange were in the red with Nifty auto down by 4.1 per cent, metal and realty by 3.4 per cent each, PSU bank by 2.4 per cent and financial service by 2.9 per cent. Among stocks, Bajaj Finance was the top loser after clocking a loss of 9.04 per cent to Rs 2,312.60 per share. Mahindra and Mahindra fell by 6.5 per cent, Eicher Motors by 6.3 per cent, Maruti Suzuki by 4.3 per cent and Bajaj Auto by 4.2 per cent. The other prominent losers were Bajaj Finserv, JSW Steel, Tata Steel, ONGC and UPL. However, Cipla, Axis Bank, Tech Mahindra, GAIL and Zee Entertainment traded with a positive bias. Meanwhile, Asian shares slid and oil prices tumbled as fears mounted that the global shutdown for coronavirus pandemic could last for months. MSCI's broadest index of Asia Pacific shares outside Japan lost by 1.1 per cent while Shanghai blue chips shed 1.4 per cent. Central banks within and outside India have mounted an all-out effort to bolster economic activity with interest rate cuts and asset-buying campaigns. Still, the projections for global economy in 2020 continue to depress investor sentiment.
Hindustan Petroleum Corporation Ltd (HPCL) Chairman, Mukesh Kumar Surana informed that the management and staff are trying best to make sure petroleum products reach public and requested everyone to not panic. Mukesh Kumar Surana, HPCL Chairman said, "Our staff is trying their best to make sure that essential commodities like petrol, diesel and LPG reach the public as per their requirement. I request everyone to not panic buy. There is no shortage of products."
A massive fire which broke out at a shop in Shaheen Bagh was doused off on March 29. Fire tenders rushed to the spot immediately after the incident was reported. No casualty or injury was reported.
Union Health Ministry, Joint Secretary, Lav Agarwal informed that under Indian Railways, around 1.25 lakh wagons have been operated in the last 5 days. These wagons were operated for the transportation of essential commodities, such as food grains, sugar, salt, coal, petroleum, etc. The Joint Secretary further said that Prime Minister Narendra Modi has set up a dedicated fund - PM CARES- for COVID-19 through which philanthropics and citizens of the country can extend their support towards this effort.
It seems like humanity is recounting itself amid this pandemic, as people stepping out to help each other in every possible manner. A young farmer from Maharashtra's Nasik decided to distribute wheat grain to needy villagers. However, the decision was not easy as Ramrao Patil himself is an average earning farmer. Meanwhile, the numbers of coronavirus cases is rising continuously. According to Union Health Ministry, the total number of coronavirus cases in the country raised to 979 (including 86 cured/discharged and 25 deaths).
A day after Modi Govt began its economy rescue in right earnest with a Rs 1.70 lakh crore coronavirus counter, the Reserve Bank of India joined the big fight on Friday with a host of measures aimed at minimizing the damage from Covid-19. A moratorium of three months of EMIs on all outstanding loans to the reduction of repo rate by 75 basis points to 4.4 per cent. What it means to the common man and how it is going to help the economy in trying times. All the questions answered by international tax expert Mr Sanjay Jain in an exclusive interview with NYOOOZ
Shaktikanta Das, Governor, Reserve Bank of India, said the Indian banking sector is safe and sound. Depositors of commercial banks including pvt banks need not worry on the safety of their funds, he said in his press conference at 10 AM in Mumbai today.
NITI Aayog CEO Amitabh Kant hailed RBI Governor Shaktikanta Das' announcement of putting moratorium for 3 months on all loans."I compliment the RBI Governor on putting this moratorium of 3 months and also waving off interest and bringing down the repo rate, this is the way to go. This is a progressive and timely measure," said Kant after RBI Governor Press briefing.
Reserve Bank of India Governor Shaktikanta Das on March 28 assured the bank depositors of safety of their funds despite stock market taking a big hit since the start of this month due to coronavirus pandemic, and said it would be fallacious to link the safety of deposits to the downfall of share prices of banks. Das also said the Indian banking system is safe and sound, and the coronavirus pandemic has only resulted in panic withdrawal of deposits from a few private sector banks.
The Reserve Bank of India on March 27 announced that all commercial banks including regional rural banks, cooperative banks, NBFCs (including housing finance companies) and lending institutions are being permitted to allow a moratorium of 3-month on payment of instalments in respect of all term loans outstanding as on March 1. The decision was announced by RBI Governor in view of coronavirus pandemic.
The Reserve Bank of India on March 27 reduced 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 March 28 for a period of one year. The decision was announced by RBI Governor in view of coronavirus pandemic which has put the Indian economy to a standstill.
Reserve Bank of India (RBI) Governor Shaktikanta Das said that Repo rate has been reduced by 75 basis points to 4.4%. Reverse repo-rate reduced by 90 basis points to 4%. "Repo rate has been reduced by 75 basis points to 4.4%. Reverse repo-rate reduced by 90 basis points to 4%," said Das while addressing press conference.
Equity benchmark indices were buoyant during early hours on Friday ahead of a media briefing by Reserve Bank of India (RBI) Governor Shaktikanta Das, raising hopes of liquidity-infusing steps to absorb the economic impact of coronavirus amid a countrywide lockdown. A day earlier, Finance Minister Nirmala Sitharaman unveiled a Rs 1.7 lakh crore economic package and announced various welfare measures to tide through the rising pandemic. At 10 am, the BSE S and P Sensex was up by 940 points or 3.14 per cent to 30,887 while the Nifty 50 edged higher by 341 points or 3.95 per cent to 8,983. All sectoral indices at the National Stock Exchange were in the positive terrain with Nifty private bank up by 8.4 per cent, PSU bank by 8.1 per cent, financial service by 6.8 per cent and realty by 6.2 per cent. Among stocks, IndusInd Bank continued its yesterday's upward glide and clocked a gain of 20 per cent to Rs 523.05 per share while Axis Bank was up by 15 per cent.
Finance minister Nirmala Sitharaman, on March 26, announced a Rs 50 lakh medical insurance cover per person for frontline health workers involved in managing the Coronavirus (COVID-19) outbreak.
A destitute couple residing at Jantar Mantar is going through difficult times after the nation went under 21-days lockdown. The couple resides on road near Jantar Mantar in a makeshift tent and depends on daily wages. The woman is 8 months pregnant. Sapna said, "We had 1 kg of rice that we ate in past 3-4 days. We get Rs 50-100 by cleaning nearby area. We can't even go to work." Sanjay broke down while sharing health concerns of his heavily pregnant wife. He said, "We clean garbage and get Rs 50 or 100, to carry on our lives. The quota of food finished today, for future may god help us." Nationwide lockdown has put people in unorganised sector in grim situation. The administration is working relentlessly to provide food and shelter to such people.
Air India evacuated over 300 Israel nationals from Delhi (India) to Tel Aviv (Israel) on March 26. Israel's Ambassador to India, Ron Malka said, "Today, we are evacuating 317 Israelis today. In another flight tomorrow, 200 more Israelis to be evacuated. Indian govt has helped us a lot, I want to thank them. Israel took drastic measures to fight coronavirus, situation there is under control."
Defence Minister Rajnath Singh on March 26 chaired a review meeting with the Chief of Defence Staff General Bipin Rawat, Chiefs of Army, Navy and Air Force and senior officials on the preparedness for tackling COVID-19 menace. Government has imposed national lockdown from March 24 in the country in wake of coronavirus outbreak.
Equity benchmark indices ruled higher during early hours on March 26 following reports that the government may soon announce an economic stimulus package to soften the blow of countrywide lockdown amid spreading coronavirus. At 10:15 am, the BSE S and P Sensex was up by 1,175 points or 4.12 per cent to 29,711 while the Nifty 50 edged higher by 327 points or 3.93 per cent to 8,645. All sectoral indices at the National Stock Exchange were in the positive zone with Nifty IT up by 4 per cent, private bank by 3.8 per cent, realty by 3 per cent and pharma by 2.5 per cent. Among stocks, IndusInd Bank made a dramatic gain of 25 per cent to Rs 376.60 per share while Axis Bank was up by 7.3 per cent.
Yes Bank Administrator Prashant Kumar on March 17 held a press brief in Mumbai. While addressing the mediapersons he said that the bank will resume normal operations from 6 PM on March 18. He said that all Yes Bank ATMs has sufficient cash and all the branches have adequate cash supply.
Yes Bank Administrator Prashant Kumar on March 17 held a press brief in Mumbai. While addressing the mediapersons he said the staff of Yes Bank handled the situation very well when the RBI had superseded Yes Bank's board and capped withdrawals at Rs 50,000. "On the very first day there were long queue outside the banks but subsequently customers were handled very well and there were not a single untoward incident," Kumar added that on the very first day, the ATMs were made available to our customer and within 48 hours other banks ATMs were also made available to the customers. On March 05, the RBI had superseded Yes Bank's board and capped withdrawals at Rs 50,000.