Shares of Tata Motors slipped 10 per cent intra-day to Rs 112.95 on the BSE on Friday after the company said the reduction in China sales owing to the outbreak of coronavirus, is expected to reduce Jaguar Land Rover's (JLR) full-year EBIT (earnings before interest and tax) margin by about 1 per cent.

It, however, added free cashflow in Q4 is still expected to be modestly positive. The coronavirus has significantly impacted China sales with February retails down around 85 per cent year on year, it said.

Finance Minister Nirmala Sitharama assured the depositor that their corpus was safe in YES Bank and the Reserve Bank of India would manage the situation well.

She said that the YES Bank board has been bypassed and former State Bank of India chief financial officer Prashant Kumar has been appointed administrator of YES Bank.

As the Coronavirus spreads like wildfire, spreading across more than 90 countries, China-the epicentre of the outbreak-has reported 30 more deaths, taking the death toll to 3,042.

The National Health Commission received information about 80,552 confirmed cases of pneumonia caused by a new type of coronavirus from 31 provinces [regions and municipalities], including 23,784 currently ill people. 5,737 people are in critical condition, 3,042 have died, 53,726 people have been discharged from hospitals, the commission stated.

The State Bank of India (SBI) has been authorised by its board members (an in-principle approval, it is being said) to invest in the capital-starved Yes Bank, hours after the Reserve Bank of India (RBI) on Thursday imposed a moratorium on the troubled private lender and the withdrawal limit for depositors at Rs 50,000.

On Thursday, the central board of SBI discussed the matter at a meeting and later informed the exchanges.

A Delhi man with a travel history to Thailand and Malaysia has tested positive for coronavirus, taking the total number of confirmed cases in India to 31, health ministry officials said on Friday.

The latest case is the third in Delhi.

Mumbai is set to host the 2023 International Olympic Committee's session after the IOC Executive Board recommended the Indian city for the annual conference.

The EB decided to put Mumbai's candidature to a vote of the members after the IOC Evaluation Commission praised the quality of the facilities at the Jio World Centre, which is the potential venue for the meet.

A dowry harassment complaint has been filed against Flipkart co-founder Sachin Bansal by his wife Priya Bansal in Bengaluru, according to LiveMint. Four persons have been named in the FIR — Sachin Bansal, his father Satprakash Aggarwal, mother Kiran Bansal and brother Nitin Bansal. The FIR was filed at Koramangala police station under two sections of the Indian Penal Code- 498A (dowry harassment), 34 (criminal intent) and under section 3 and 4 of the Dowry Prohibition Act.

All India Bank Employees’ Association (AIBEA) and All India Bank Officers Association (AIBOA) have decided to go on strike on March 27 against the government's decision to go for a mega bank merger, which was approved by the Cabinet on Wednesday.

Banks are themselves facing problems due to the huge pile of bad loans. While the public sector banks made a total gross profit of Rs 150,000 crore for the year ended 31-3-2019, because of total provisions towards bad loans, etc amounting to Rs. 216,000 crore, the banks ended with a net loss of Rs. 66,000 crore, said C H Venkatachalam, general secretary, AIBEA.

The government on Wednesday approved a scheme for the amalgamation of 10 state-owned banks into four, putting to rest any doubts about a possible delay in the process.

Effective from April 1, 2020, the balance sheets as well as stocks of these banks will be integrated, according to the scheme of amalgamation approved by the Union Cabinet.

The trade impact of the coronavirus epidemic for India is estimated to be about $348 million and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade, according to a UN report.

Estimates published by United Nations Conference on Trade and Development (UNCTAD) Wednesday said that the slowdown of manufacturing in China due to the coronavirus (COVID-19) outbreak is disrupting world trade and could result in a 50 billion dollar decrease in exports across global value chains.

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