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RBI relief package to help sustain businesses during coronavirus: Bankers

The Union Bank CEO said that the RBI's package would help in sustaining business at a time when a 21-day nationwide lockdown to stop the spread of the COVID-19 virus

Coronavirus lockdown: Centre may allow states to transport migrants

The Centre may issue an advisory to the states to screen the migrant workers and open up road transportation lines for them

SBI cuts lending rate by 75 bps as RBI introduces liquidity package

SBI also cut interest rates on retail term deposits by 20-50 bps. For bulk deposits, the cut was steeper, by 50-100 bps, due to huge liquidity in the system

Coronavirus: Centre's EPF scheme to cover only 16% of total subscribers

Employers and employees equally contribute 12 per cent of wage towards a worker's provident fund account maintained with the Employees' Provident Fund Organisation (EPFO).

Migrant workers head home in coronavirus lockdown, exposed and vulnerable

Unlike countries such as South Africa, which follow a right-based approach giving social security to everyone who joins the workforce, India sticks to an employment-based approach

Centre tells states to ensure smooth movement of bank, ATM staff

Banks told to keep adequate cash at ATMs as FM announces free cash withdrawals at ATMs

Coronavirus impact: FM offers relief measures, says bigger steps to follow

In a media briefing held through a video conference, Sitharaman also said that a larger economic package will be announced soon

Covid-19: Govt directs states to transfer cash to construction workers

Last date for annual filing of returns under labour laws for employers deferred till April 30

Coronavirus: EPFO to disburse pension early to 6.5 mn account holders

Earlier this month, the EPFO had issued a statement asking its subscribers to avail online for availing various facilities, including for their provident fund claims

No salary deduction for contractual staff during Covid-19 lockdown: Centre

All such workers will be deemed to be "on duty" during "such period of absence and necessary pay or wages would be paid," the order added

Covid-19: Govt tells companies to protect wages, not terminate workers

Companies may look to terminate the contract of workers 'on the pretext' of the Covid-19 or may force their employees to go on leave without pay

Covid-19: Banks brace for downing shutters in case cities go into lockdown

Some banks are going on an overdrive to secure employees who have to deal with the public at the branches on a daily basis with banking being one of the essential services

Covid-19: Lenders seek deferment in loan repayment, reclassification of NPA

IBA's managing committee met on Friday and decided to put up five set of demands to the central government and RBI to help the financial sector and retail and corporate borrowers alike

India to offer unemployment benefits to workers affected by coronavirus

This will be along the lines of measures taken by countries such as the US to combat impact of the pandemic on the working population

Coronavirus impact: IBA to seek relief package for financial institutions

One of the possibilities that banks would explore is to split duties and responsibilities, apart from working in different shifts and geographies

YES Bank gets Rs 3,100-cr lifeline from pvt lenders; moratorium to go soon

The YES Bank reconstruction plan will include an equity investment of at least Rs 11,350 crore from various entities, including multiple private lenders.

Ensure credit not disrupted after bank merger, Finance Ministry tells PSBs

The FM met chief executives of public sector banks which are going to be merged from April 1

YES Bank crisis: Cabinet likely to take up revival plan on March 13

RBI Governor Shaktikanta Das had met SBI Chairman Rajnish Kumar on Friday to discuss the way forward.

FM Nirmala Sitharaman to review bank merger preparedness on Thursday

Banks likely to set up common call centres and monitoring cells

Alienation, distrust and exodus loom in the aftermath of Delhi riots

Distrust among communities may lead to permanent displacement for thousands, write Arindam Majumder and Somesh Jha