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Friday, April 17, 2020

Lockdown, Day 24: RBI pulls out Swiss knife

CORONAVIRUS UPDATES

17 Apr, 2020 | 05:40 PM IST


Lockdown, Day 24: RBI pulls out Swiss knife

In a renewed effort to pave the way for a recovery, the Reserve Bank of India today announced various measures to deal with the collateral damage from the coronavirus pandemic.

Amid a general ramp-up in screening and testing for the disease, Gujarat became the third state to register 1,000 Covid positive cases.

Below are the other major developments during the day.



COUNT SO FAR:
    Eight deaths in Indore, and 245 new cases.
    Two deaths in Gujarat, brings death tally to 38; cases up to 92.
    62 new cases in Delhi, total up to 1,640.
    38 new cases in Rajasthan, 1,169 in total.
    38 new cases in Andhra Pradesh, tally rises to 570.
    38 new cases in Karnataka, tally up to 353.
    34 new cases in Maharashtra, total now 3,236.
    Three new cases Bihar, tally up to 83.
    Three new cases in Chhattisgarh, case total now 36.

World India
Tally Toll Tally Toll
21,65,500 1,45,705
13,387 437

BUSINESS:
    Boeing to restart commercial production next week.
    SIAM urges government to temporarily cut GST taxes by 10%.
    Discoms to suffer Rs 30,000 crore revenue loss due to lockdown.

RBI MEASURES:
    Reverse repo rate has been cut by 25 bps to 3.75%.
    States Ways and Means Allowance limit increased by 60%.
    A second tranche of TLTRO worth Rs 50,000 crore.
    Liquidity Coverage Ratio has been brought down to 80% from 100%.
    Rs 1.2 lakh crore fresh currency pumped into the system.

AROUND THE WORLD:
    US cases up to 6,50,00; deaths over 33,000.
    Germany's cases rise by 3,380.
    Belgium deaths cross 5,000.

CHINA:
    26 new cases reported in the Mainland
    China posts 6.8% decline in GDP; first decline in decades.
    China revises Wuhan death toll to 3,869; 50% increase.


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