Lockdown, Day 24: RBI pulls out the 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	13,835	452

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 6,50,000; 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.