India grossly under-tested on coronavirus, say experts : Bulletin: Business Today
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India grossly under-tested on coronavirus, say experts

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March 18, 2020

Indian banks to appeal for relief on bad loans amid coronavirus concerns
The coronavirus pandemic has sparked concerns about a fresh surge in bad loans at India's lenders, and the industry body representing the banks plans to appeal to regulators to provide some reprieve in bad-debt classification, as reported by Reuters. The appeal to the Reserve Bank of India (RBI) will be made via the Indian Banks' Association.

India grossly under-tested on coronavirus, say experts
The official numbers on the tested cases of coronavirus reflect a worrying signal. Experts feel we are grossly under-tested. The numbers from the Indian Council of Medical Research (ICMR),  tell us that so far around 6,500 samples have been tested. Out of these, 78 cases were found positive as of March 13. In other words, we are testing roughly about four per million people. The tests are being conducted at ICMR labs, the number of which has grown to 65 from 51  earlier. Experts feel we should be testing 10 times the current numbers.

China approves human trials of possible novel coronavirus vaccine
China has given the go-ahead for researchers to begin human safety tests of an experimental coronavirus vaccine in the race to develop a shot against the COVID-19 epidemic that has killed more than 7,000 people worldwide. A Phase 1 test in China will examine whether experimental shot is safe in humans and aims to recruit 108 healthy people to take part between March 16 and December 31.

Yes Bank: No cap on withdrawal from today 6 pm; full banking services to be restored
All the restrictions imposed on the troubled Yes Bank will be lifted at 6 pm today. Customers will be able to access full banking services from March 19. All ATMs are fully stocked and there is no need for panic withdrawals say officials.

Coronavirus impact: Mukesh Ambani prepares to protect half a million Reliance employees
RIL's business has been affected by coronavirus outbreak as well as the crash in crude price. The company has lost Rs 4.4 lakh crore market value over the last three and a half months. But Reliance Industries chairman Mukesh Ambani is taking several measures to counter the effects of the virus on RIL.He's chairing meetings on the pandemic every second or third day to take stock. Medical teams have been set up at all Reliance campuses, a helpline has been offered and divisions have activated work from home.

SBI will not sell single Yes Bank share before 3 years, says Rajnish Kumar
State Bank of India (SBI) Chairman Rajnish Kumar on Tuesday said that not even a single Yes Bank share the PSB holds will be sold before three-year lock-in period. None of the banks are planning to sell their stake in private lender ahead of the three year lock-in period, the SBI chairman said.

Probe into VG Siddhartha's death may find Rs 2,000 crore missing from CCD books
A probe into debt-laden Coffee Day Enterprises Ltd (CDEL) is likely to reveal that at least Rs 2,000 crore ($270 million) is missing from the company's accounts, according to a Bloomberg report. The investigation, which was initiated by the company's board after the death of founder V.G. Siddhartha, is likely to be tabled before it by early April.
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