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Biz EOD: How ready are banks; tough times ahead for aviation; IndiGo suffers from COVID-19

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

twitter-logo BusinessToday.In        Last Updated: March 20, 2020  | 01:37 IST
Biz EOD: How ready are banks; tough times ahead for aviation; IndiGo suffers from COVID-19
Top stories from the world of business and economy

After NPAs, the AGR debacle and Yes Bank row, Indian banks now have to deal with coronavirus. Indian airlines are looking a 50 per cent decline in demand. IndiGo has grounded 16 planes and asked its employees to take a salary cut. Read for more top stories from the world of business and economy.

1. Are Indian banks ready to absorb Covid-19 impact?

COVID-19 pandemic was like a bolt from the blue. Over the last seven years, the banks had braved the first of its kind balance sheet clean up with RBI's asset quality review for stressed loans.

2. Coronavirus: Demand for tax cuts, relaxed NPA norms, cash transfers grows as economy hits rock bottom

The benchmark indices Sensex and Nifty crashed around one-third from their peaks in January this year, while the rupee hit Rs 75 a dollar, reflecting gloom and doom in the economy post the outbreak of coronavirus.

3. Demand in Indian aviation may dip 50%, govt intervention may fail: CAPA

Indian aviation is staring at grimmer times with demand possibly dipping with the government urging people to cut down on non-essential travel, according to a report by Centre for Asia Pacific Aviation India.

4. Coronavirus impact: IndiGo grounds 16 planes; staff to take 10-20% salary cuts

As the coronavirus scare grips the domestic market, airlines are witnessing large-scale cancellations and rescheduling even among Indian passengers.

5. Coronavirus effect: Investors lose Rs 7 lakh crore wealth in early trade

Banking stocks led the losses today with BSE bankex tanking 2,267 points intra day to 21,256. Bank Nifty, too, crashed 1,900 points to 18,675 in early trade before recovering to 19,945 in afternoon session.

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