State Bank of India (SBI) on Thursday said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity as part of the Reserve Bank of India-mandated bailout plan.

SBI will pick 7,250 million shares at Rs 10 each, and its shareholding will remain within 49 per cent of the paid-up capital of the private sector lender.

Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on Wednesday said that the Maha Vikas Aghadi (MVA) government is 'threatening' the people over the novel coronavirus.

Thackeray also said that imposing restrictions on the citizens is making them 'panicky'.

The moratorium on Yes Bank could have a transitory impact on most corporates exposed to the bank, and delays in resuming normal services may impact the near-term liquidity of some of its customers, rating agency Ind-Ra said.

India Ratings and Research (Ind-Ra) has carried out a first-cut assessment of the impact of the recently imposed moratorium on Yes Bank's...withdrawals till April 3, 2020. The disruption could be transitory for most corporates exposed to the bank, given the administrator's statement of resuming the full operational status by next week, the rating agency said.

With the coronavirus reaching tech parks, campuses of multinational companies and even schools and colleges in Bengaluru, the IT city is gearing up to shoot the trouble with the help of technology. The city has so far reported four positive coronavirus cases.

As more employees opt for work from home in this time of crisis, start-ups are launching a suite of products to support collaboration and communication among workers.

In an unprecedented move, India has suspended all visas till April 15 barring few exceptions as fears grow over coronavirus outbreak. This comes into effect on March 13, Friday at 1200 GMT. The exceptions are provided for diplomatic, official, UN/International Organizations, employment & project visas.

Visa-free travel facility granted to OCI cardholders has also been suspended till April 15, 2020, and come into effect from 1200 GMT on March 13, 2020, at the port of departure.

The special cell of Delhi Police on Thursday arrested Popular Front of India president Parvez and secretary Mohammad Illiyas for their alleged connection with the Shaheen bagh protest. The latter is a resident of Shiv Vihar and has even contested election from Karawal Nagar.

Police have also claimed that PFI was involved in the recent riots in northeast Delhi.

The total market capitalisation of companies listed on the Bombay Stock Exchange (BSE) hit an over 32-month low on Thursday as the benchmark indices crashed over 7 per cent after the World Health Organization (WHO) declared the worldwide outbreak of the new coronavirus as pandemic.

Investors had lost a whopping nearly Rs 11 trillion in the stock markets till 11:10 am today. The total investor wealth, measured in terms of the cumulative market value of all listed stocks on the BSE, fell by Rs 10.97 trillion to Rs 126.15 trillion, exchange data shows.

Fuel prices were further reduced on Thursday due to slump in demand after the coronavirus was declared pandemic. The price of petrol was reduced by 15-16 paise and that of diesel by 12-13 paise across all major cities in the country.

Petrol now costs Rs 70.14 per litre in Delhi, Rs 75.84 per litre in Mumbai, Rs 72.83 a litre in Kolkata and Rs 72.86 per litre in Chennai after the price cut.

The rupee on Thursday nosedived a whopping 70 paise against the US dollar after World Health Organisation (WHO) declared the deadly Coronavirus (Covid-19) pandemic. The currency hit a low of 74.34 during the session. However, later it trimmed some losses to trade at 74.12.

The number of cases in over 100 countries around the world has risen to more than 124,000, with over 4,500 deaths, including a jump in fatalities in Iran and Italy in particular, according to an AFP tally.

Reliance Industries Ltd, operator of the world's biggest refining complex, has bought 2 million barrels of additional Saudi oil in a very large crude carrier for loading in April, trade sources said on Thursday.

No immediate comment was available from Reliance.

State-run Saudi Aramco, the world's top oil exporter, has slashed its selling price for April and announced plans to raise output to a record 12.3 million barrels per day (bpd).

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