Top headlines: Kirana shops beat online giants, milk demand down, and more

From New India Assurance to insure health workers, Centre disbursing first VRS package for BSNL, MTNL staff to challenges of e-commerce firms, Business Standard brings you top headlines of the day

Kirana stores beat e-commerce giants during coronavirus crisis: Study

Kirana stores have clearly emerged as winner against e-commerce firms amid 21-day Covid-19 lockdown. The e-commerce platforms hit by shortage of delivery personnel and travel restrictions have not been as successful as the kirana stores in supply of essential goods. Read More...

New India Assurance to insure health workers engaged in coronavirus fight

After FM Nirmala Sitharaman's press brief last week where she pledged to insure health workers, the government has chosen New India Assurance to provide insurance coverage to more than 2 million health care professionals taking care of the patients diagnosed with the deadly Covid-19. The special insurance scheme would be a group personal accident policy, which includes accidental loss of life on account of contracting the deadly virus. Read More...

Used cars could see an upswing after BS-VI switch despite sales slump

The used car segment is going to witness a spike as half of the buyers of the new cars are poised to sell their old ones. The used car car space is expected to reach 7.2 mn cars per year worth Rs 50,000 cr as the owners of old cars who were waiting for the BS-VI norms to be implemented from April 1 may start selling their vehicles. Read More...

Govt disburses first tranche of BSNL, MTNL employees' VRS package

The Centre has begun disbursing the first Rs 5,000 crore installment of the voluntary retirement scheme (VRS) to its BSNL and MTNL employees. Now, the employees of both the companies will be given their March salaries on April 3. This comes after the government in October last year approved a package of nearly Rs 70,000 crore for BSNL and MTNL and also drew up a timeline to merge them. Read More...

Covid-19: Milk consumption down 25% in one month as eateries remain shut

The 21-day lockdown has hit milk consumption hard as demand has fallen 25% in the last month with the closure of hotels, restaurants, and roadside tea stalls. The milk is in abundant supply and at some places farmers are forced to sell their produce at 50% discount. Maharashtra, Gujarat, Karnataka, and Tamil Naduare some of the states where this distress is clearly visible. Read More...

Coronavirus lockdown: Auto volumes hit slow gear, could witness 50% decline

Auto sales for March seems gloomy as demand is likely to have declined 50% due to the coronavirus lockdown. Passenger vehicle segment is expected to fall 40-50% while sales of commercial vehicles can slump as much as 70-80% with most of the cancellations coming in the over the past two weeks. Read More...

Promoter pledging hit a six-month high on sustained decline in markets

So far in March, fresh pledge creation stands at Rs 15,316 crore, which is highest seen in six months triggered by the recent meltdown in markets. Analysts' data has indicated 24% rise in pledging in March and the market cap erosion of these companies has forced their promoters to beef up the collateral value with more shares. Read More...

E-commerce firms to resume services, but short on delivery executives

Despite the fact that e-commerce platforms have been allowed deliveries amid the lockdown, they are facing operational challenges like shortage in delivery executives and obtaining curfew passes in many cities. Firms said that many delivery executives have returned to ther hometowns and brining them is going to be a challenge. The firms are also facing warehousing challenges in villages as delivery executives are not allowed to enter the sarpanch. Read More...

Covid-19 impact: Tax and duty relief likely in package for industry

The government may soon announce second economic rescue package which is likely to include tax and duty relief for industry sectors hit hard due to coronavirus lockdown. The government has also started discussions with the World Bank for a massive package to ramp up the healthcare infrastructure in the country, reported the Economic Times. 

NRAI and BigBasket partner to help restaurant staff gain temporary employment

The National Restaurant Association of India (NRAI) is encouraging employees of restaurants that are temporarily shut to those who are currently out of jobs to take up temporary employment with online grocer BigBasket that is trying to fulfill increased demand across cities, Livemint reported.