Coronavirus wrap: India sees highest cases in a day, SBI’s new credit plan

India on Friday reported 50 (Covid-19) cases, highest in a single day, taking the tally to 223, even as Prime Minister discussed with chief ministers ways and preparedness of the states to check the virus spread. Several states went under partial lock down to halt the virus, with offices and shops shut in Mumbai and Pune. Here’s a wrap up of all the developments during the day related to Tune in for LIVE updates

How to check virus spread? PM Modi, Chief Ministers discuss ways

Prime Minister deliberated ways to check the spread of with chief ministers of various states. Union Health Minister Harsh Vardhan and top health ministry officials were also present in the meeting held via video link.

Lenders seek relaxation in NPA norms

The Indian Banks’ Association (IBA) is set to demand a host of relaxations towards repaying loans in a bid to tide over the coronavirus crisis, including an extension of 90 days in classifying accounts as non-performing assets (NPA) and deferring the installment of term loans.

Offices shut in Mumbai and Pune

All the shops, establishments and offices excluding those engaged in essential services will have to remain shut till March 31 in Mumbai, Pune and Nagpur, chief minister Uddhav Thackeray announced. Groceries, milk centres, pharmacies and banks are exempted from the restrictions which will kick-in from Friday midnight.

SBI offers a new credit scheme

In relief to existing borrowers, the State Bank of India (SBI) on Friday announced a new scheme where the lender will provide emergency credit to borrowers whose operations are hit by the Coronavirus (Covid-19) pandemic. The government lender will make additional credit available via Covid-19 Emegency Credit Line (CECL) to existing borrowers on an ad-hoc basis. CECL will come into effect from March 30.

RBI to inject Rs 30,000 cr into market

The (RBI) will inject liquidity of Rs 30,000 crore through open market operations next week to maintain financial stability in the system in the wake of the coronavirus outbreak. The central bank has decided to conduct purchase of government securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 crore in two tranches in March.

Delhi metro to be shut on Sunday

The Delhi Metro services will be closed on Sunday in view of the ‘Janata curfew’, officials said. The total number of coronavirus cases in the capital on Thursday rose to 14, according to the Delhi Health Department.

China’s economy normalisng, says IMF

The officials on Friday rekindled hopes of normal activity in China after a full-blown shock caused by the coronavirus on their economy.

US warns citizens against foreign travel

The United States warned Americans to return home or stay abroad indefinitely, while Senate Republicans unveiled a $1 trillion economic stimulus plan to provide funds directly to businesses and the American public, as the number of coronavirus cases in the country surged past 13,000.

MPs who shared space with BJP MP Dushyant Singh go for self-quarantine

Several Members of Parliament including TMC’s Derek O’Brien and Apna Dal’s Anupriya Patel on Friday went into self-quarantine following the announcement by BJP MP Dushyant Singh and his mother former Rajasthan chief minister Vasundhara Raje that they were self-isolating themselves after attending a party last week with singer Kanika Kapoor who has tested positive for COVID-19.

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