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As amalgamation with United Bank, OBC takes effect, PNB becomes India’s second largest PSB after SBI
Posted on 1st April 2020
The Punjab National Bank (PNB) has become the second-largest nationalized bank of the country - both in terms of business and branch network - after its amalgamation with United Bank of India and Oriental Bank of Commerce which came into effect on April 1.

The State Bank of India (SBI) still remains the largest state-run bank in the country.

BMC moves to seal coronavirus affected areas in Mumbai
Posted on 1st April 2020
With over 150 coronavirus cases reported from Mumbai alone, highest from any city in the country, the Brihanmumbai Municipal Corporation (BMC) is racing against time to seal the areas where positive cases have been found.

The areas which the BMC plans to seal include where contacts of confirmed cases live.

TVS Motor hits 4-yr low ahead of March auto sales nos; skids 40% in 2-mths
Posted on 1st April 2020
Shares of TVS Motor Company hit an over four-year low of Rs 279, down 6 per cent, on the BSE on Wednesday on concerns that sales volume in the month of April could decline significantly due to the lockdown until April 14 amid the outbreak of coronavirus (Covid-19) pandemic.

The stock of the company, which primarily makes two-wheelers and three-wheelers, was trading at its lowest level since March 2016.

Merger of 10 PSU banks into 4 effective from today; 6 banks cease to exist
Posted on 1st April 2020
The biggest ever consolidation exercise in the public sector banking space is slated to take shape on Wednesday when six PSU lender will be merged into four in a bid to make them globally competitive.

The exercise assumes significance as it is taking place at a time when the entire country is under the grip of COVID-19 outbreak. It has triggered 21-day lockdown to contain the spread of the deadly virus.

BMC leases vacant buildings in Mumbai to use them as isolation centres
Posted on 1st April 2020
The Brihanmumbai Municipal Corporation (BMC) on Tuesday decided to use vacant buildings in the wake of lockdown such as marriage halls, vacant hotels, hostels, colleges, community centres, gyms, clubs, and exhibition centres to use them as isolation centres so that people can be quarantined if required.

The places will be paid reasonable rent for usage.

Govt slashes interest rates on Fixed Deposits, savings schemes amid coronavirus crisis
Posted on 1st April 2020
Days after the Reserve Bank of India slashed the repo rate by 75 basis points, the Department of Economic Affairs, Ministry of Finance on Tuesday announced interest rate cuts on small savings schemes for the first quarter of the Financial Year 2020-2021.

The interest rate has been slashed on several schemes in the range of 70 basis points to as much as 140 basis points.

Deaths in US surpass China's official toll, Trump warns country headed for 'tough two weeks'
Posted on 1st April 2020
More than 42,000 people have died worldwide in the coronavirus pandemic as the cases continue to rise dramatically, with the US becoming the new epicentre of the outbreak where the death toll surpassed China's official toll on Tuesday.

The virus has so far infected more than 858,000 people, killing at least 42,139 of them, according to the latest update provided by the John Hopkins University's coronavirus tracker.

Amid coronavirus crisis, Maharashtra govt warns of strict action against spreading rumours on April Fool's Day
Posted on 1st April 2020
As Maharashtra continues to be troubled by coronavirus with the number of positive crossing 302, the state government on Tuesday warned people against spreading rumours on April 1 and said that strict action will be taken against the perpetrators.

April 1 marks as the April Fool's Day.

FIR against Tablighi Jamaat preacher Maulana Saad, others for organising congregation despite lockdown
Posted on 1st April 2020
The Crime Branch of Delhi Police on Tuesday registered an FIR agaist Maulana Saad and other members of the Tablighi Jamaat for violating the government order restricting religious gatherings in wake of the coronavirus crisis. The case was filed under Section 269, 270, 271 of Epidemic Disease Act 1897 and Section 120-B of the Indian Penal Code (IPC) for violation of directions given to the management of Markaz of Basti Nizamuddin.

The order was issued to restrict social, political, and religious gatherings as well as take safety measures such as including social distancing for prevention of coronavirus infection.

Research on coronavirus vaccine moving at fast pace: Health Ministry
Posted on 1st April 2020
As the cases of coronavirus continue to rise in India, the Union Health Ministry on Tuesday said that research is going on at a fast pace on the development of a vaccine for the virus and the government is moving in the right direction.

The information was given by Joint Secretary in Health Ministry Lav Agarwal during the daily media briefing on coronavirus situation in the country. 227 positive cases were reported in the last 24 hours, taking the total number of confirmed cases in India to 1,251, including 32 deaths, he said.

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