Shares of IndusInd Bank were locked in the 20 per cent lower circuit in an otherwise firm market, at Rs 329.25, on the BSE on Tuesday after the bank said the outbreak of coronavirus (Covid-19) could push up its credit costs to around 200 to 210 basis point in March 2020 quarter, indicating a rise in bad loans. At 9:45 am, the S&P BSE Sensex was at 28,996.35, up 556 points or nearly 2 per cent.

In an analysts call on Monday, the management said the near-term impact of covid-19 would have limited impact on their portfolio, assuming a 3-month disruptuon.

Amid nationwide lockdown over novel coronavirus, the Central Government on Tuesday said that the validity of documents like driving licenses, permits and vehicles registration that expired after February 1 has been extended till June 30.

In an advisory to all states and Union Territories, Ministry of Road Transport and Highways has asked them to treat documents that expired since February 1 as valid till June 30.

Amid a report circulating that the new financial year will start from July 1 instead of April 1, the government on Monday clarified that it has not extended the current 2019-20 fiscal year and it will end as scheduled on March 31.

There is no extension of the financial year, the Finance Ministry said in a press release.

In wake of a financial crisis due to the coronavirus pandemic, the Telangana government on Monday announced a massive pay cut for all its employees ranging from 10% to as high as 75%.

The decision was taken at a high-level meeting convened by chief minister K Chandrashekar Rao at his camp office Pragati Bhavan to assess the state’s financial position.

In an attempt to help the Government of India to fight the novel coronavirus pandemic, Mahindra group has come up with in-house ventilators, that will play a crucial role during these unprecedented times.

Mahindra's Igatpuri and Mumbai teams are working on an affordable respiratory device project and have already prepared the first ventilator prototype within days of the official announcement.

US President Donald Trump has said that the next 30 days are very vital for America in the fight against the coronavirus pandemic, as the confirmed cases of those infected by the deadly disease soured to 164,000 and fatalities crossed 3,100 in the country.

His remarks came a day after he extended the "social distancing" guidelines until April 30, expecting the peak death rate from COVID-19 to hit the country in two weeks.

Hours after the government assured the country has not entered the community transmission stage of Covid-19 yet, alarming news came from Telangana on Monday. The state government late in the day admitted that six persons, who attended a religious prayer meeting from March 13 to March 15 at Markaz in Delhi’s West Nizamuddin, have died at different hospitals in the state.
Police and paramilitary personnel have cordoned off the area near Markaz and evacuated hundreds of people suspected to have contracted coronavirus.

Fearing massive layoffs in America due to the coronavirus crisis that is hitting businesses around the globe, foreign technology professionals on H-1B visas, most sought after among Indians, demand the Trump administration extend their permissible post-job loss limit to stay in the US from the existing 60 to 180 days.

The H-1B visa is a non-immigrant visa that allows the US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.

Air India crew members are being provided with substandard, ill-fitting and flimsy personal protective equipment (PPE) on special flights being operated during the lockdown, a union of the airline's pilots complained to Civil Aviation Minister Hardeep Singh Puri on Monday.

With India under a 21-day lockdown till April 14 to curb the spread of coronavirus, all domestic and international commercial passenger flights have been suspended for this period.

Six doctors and four nurses of Ram Manohar Lohia (RML) Hospital have been sent for quarantine after they were exposed to a COVID-19 positive patient, officials said.

A chronic kidney disease (CKD) patient was admitted in medicine unit-2 for treatment. However, he was likely a COVID-19 patient, officials told ANI.

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