Top headlines: Automakers halt production, STT collection up 5%, and more

From private diagnostic chains starting coronavirus testing to Uber India assuring financial assistance to drivers, Business Standard brings to you the top headlines of the day

Metropolis, Thyrocare say they will start tests for coronavirus from today

At least two leading private diagnostic chains on Sunday said that they got the final go-ahead from the government to start Covid-19 testing. They would start collecting samples for testing from today. For starters, this would happen in Mumbai. Thyrocare and Metropolis Healthcare both got the final clearance from the government to go ahead with the testing. Read more...
 

LIC declares relaxation on premium payments amid coronavirus spread

State-owned Life Insurance Corporation said it would give relaxation to policyholders in payment of premiums due on inforce policies up to April 15 owing to the Covid-19 outbreak in the country. Policyholders are requested to stay indoors and avoid visiting any office to pay premium. They can, however, use online services of LIC. Read more...

Indian Oil becomes first firm to begin supply of BS-VI fuel in country

Indian Oil Corp (IOC), the nation's biggest oil firm, has begun the supply of the world's cleanest petrol and diesel across the country with all its 28,000 petrol pumps dispensing ultra-low sulphur fuel a good two weeks before the April 1 deadline. Read more...

Coronavirus outbreak: After HUL, ITC, Godrej cut price of sanitizer packs

Godrej Consumer (GCPL) and ITC on Sunday slashed the price of their entry-level hand sanitizer packs under Godrej Protekt and Savlon, respectively, by nearly 66 per cent, in response to Hindustan Unilever (HUL) reducing its prices. Read more...

Brookfield may take over Rs 1,500-crore Piramal loan to Bengaluru realtor

In one of the largest among refinancing deals, Canada-based Brookfield Asset Management is in talks with Piramal Capital & Housing Finance to take over a loan given to Bengaluru-based Adarsh Developers, say sources. The debt is around $200 million or Rs 1,500 crore. Read more...

Securities transaction tax collection up 5% on higher derivatives trade

The weak markets have not had an impact on the government’s securities transaction tax (STT) kitty, which went up about 5 per cent year-on-year (YoY) in the current fiscal year to date. According to an official in the Income Tax Department, STT collection stood at Rs 11,247 crore for fiscal year 2019-20 (FY20), until March 15, against the targeted Rs 12,500 crore. Read more...

Vedanta creates fund to combat Covid-19; to not cut salaries, fire staff

Vedanta Ltd has set up a Rs 100 crore fund as part of its endeavour to join hands with the Government of India to combat the widespread outbreak of Covid-19. The fund will cater to three specific areas – livelyhood of daily wage workers, employees and contract workers and preventive health care providing timely help to communities in and around various plant locations of the company. Read more...
 

Coronavirus impact: Maruti to M&M, automakers put brakes on production

Some of the country’s top automakers have taken the lead in suspending production to safeguard its employees as Covid-19 continues to spread despite lockdowns. Maruti Suzuki India said it was suspending production at its facilities in Haryana “till further notice”. Read more...
 

COVID-19: Uber India assures financial assistance to drivers tested positive

In the wake of Coronavirus, ride-hailing company, Uber India has assured financial assistance to its drivers if they are diagnosed positive with the virus. In order to curb the spread of Coronavirus, the Central Government is taking many precautionary measures, reported Hindu BusinessLine.
 

Parthasarathi Mukherjee, a former banker with Lakshmi Vilas Bank, buys 5% of Uttrayan Financial Services

Parthasarathi Mukherjee, a former banker with Lakshmi Vilas Bank and Axis Bank, along with former colleagues has bought 5 percent of micro lending firm Uttrayan Financial Services as rural India and small businesses become the new frontiers for lenders, reported Economic Times.