More than 1,000 died of Covid-19 in the US as the death toll stood at 5,137 and the number of infections at 216,000 on Thursday. The country grappled with an unprecedented health crisis, including a huge shortage of medical supplies and protective equipment.

The number of confirmed infections rose by over 25,000 in a day. More than 6.6 million Americans applied for unemployment benefits last week — doubling a record high set just one week earlier — a sign that layoffs are accelerating in the midst of the coronavirus outbreak.

Facing aggravated fiscal woes due to the lockdown, states have demanded an immediate release of their pending goods and services tax (GST) dues by the Centre, besides a hike in the borrowing limit. To tide over the crisis, states have sought an increase in the fiscal responsibility and budget management (FRBM) limit to 4 per cent, from 3 per cent.

With over four months of GST compensation of more than Rs 40,000 crore still pending, some states even plan to drag the central government to the Supreme Court.

The World Bank on Thursday approved $1-billion emergency financing for India to tackle the coronavirus outbreak, which has claimed 76 lives and infected 2,500 others in the country.

The World Bank's first set of aid projects, amounting to $1.9 billion, will assist 25 countries, and new operations are moving forward in over 40 nations using the fast-track process, the bank said.

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.

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.

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.

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.

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.

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.

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.

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