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Biz EOD: Banking, retail worst-hit; crude oil at Re 1 per barrel; What's COVID India Seva

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

twitter-logo BusinessToday.In   New Delhi     Last Updated: April 21, 2020  | 22:20 IST
Biz EOD: Banking, retail worst-hit; crude oil at Re 1 per barrel; What's COVID India Seva
Top stories from the world of business and economy

With the majority of the population staying indoors due to the nationwide lockdown, the economic growth has taken a severe hit resulting in various sectors of the economy facing financial stress. Multi Commodity Exchange (MCX) has fixed the interim settlement price of April crude oil futures contract at Re 1 per barrel after the US oil futures turned negative. Ministry of Health & Family Welfare (MoHFW) has launched 'COVID India Seva' for establishing a direct channel of communication with millions of Indians during the novel coronavirus (COVID-19) pandemic. Read for more top stories from the world of business and economy:

1. Coronavirus impact: Banking, retail, real estate, auto worst hit sectors, says report

While subdued loan growth has negatively impacted banking, supply side constraints have affected the sectors such as retail and real estate, the report said.

2. Former MP to make COVID-19 ventilators for Rs 40,000

An ICU ventilator today costs around Rs 5 lakh. But, according to KV Reddy, these cannot be compared with the COVID-specific versions because the latter have fewer features than the former but are more than sufficient to treat COVID-19 patients.

3. Re 1 per barrel! MCX revises crude oil price after US rate drops below $0

The contract for West Texas intermediate crude (WTI), the benchmark for US oil rates, fell below the $0-a-barrel level on April 20.

4. What is COVID India Seva? An explainer

"Over time, Twitter has proved to be an essential service for both the government and citizens to interact and exchange information, especially in times of need. We are happy to make a concerted online effort by adopting the Twitter Seva solution," Union Health Minister Harsh Vardhan said.

5. BT Buzz: Right time to pick equity bets? Here's what Nilesh Shah suggests

Apart from advising to invest in equities and gold at the current levels with a five-year horizon, Shah suggested hunting for bargains in real estate.

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