ICICI Bank to deploy mobile ATMs during lockdown in Tamil Nadu. Details here

In view of the coronavirus lockdown amid a rapid surge in positive cases, the ICICI Bank on Thursday announced to launch mobile ATM services in Tamil Nadu after its successful launch in New Delhi, Mumbai and Varanasi. The aim of launching ICICI mobile ATMs is to serve the customers at their doorstep amid nationwide COVID-19 lockdown. The mobile ATMs have been deployed in Ranipet near Vellore under this initiative.

How the ICICI mobile ATMs will work?

The ATM vans would be stationed at various localities in consultations with the local government authorities and would offer the service till the lockdown ends. 

Which services ICICI mobile ATMs will provide?

Besides offering cash withdrawals, other facilities customers can avail include transfer of funds, PIN change among others.

ICICI Bank launched voice banking services on Amazon Alexa, Google Assistant:

Earlier, ICICI Bank had launched voice assistance-based banking services for its customers, using which they can check balance, seek credit card details as well as ask other queries among others through this application.

The bank said it has integrated its artificial intelligence (AI) powered multi-channel chatbot iPal with Amazon Alexa and Google Assistant through which its retail banking customers can undertake a host of banking services through voice commands.

ICICI Bank has come up with these techniques to avoid social distancing as much as possible and facilitate their customers during this lockdown period, keeping the safety of its customers in mind.  

(With inputs from PTI)

Banking declared as public utility service for 6 months. What it means for bank employees

The government has declared the banking industry as a public utility service for six months till October 21 under the provisions of the Industrial Disputes Act. The order to make banking an essential service was issued by the Department of Financial Services in a circular dated April 20. The order said the labour and employment ministry through a notification has declared "banking industry as a public utility service" for six months with effect from April 21.

The notification was issued by the labour ministry on April 17 against the backdrop of the coronavirus pandemic which has significantly impacted economic activities. The Department of Financial Services' circular has been addressed to the RBI Governor, SBI Chairman, Managing Directors and CEOs of nationalised banks, and the CEO of Indian Banks' Association (IBA).

Banking declared essential services: What it means

Bringing banking services under the provisions of this Industrial Disputes Act.t means that the banking sector would not see any strikes by employees or officers during the operation of the law starting from April 21.

There are over a dozen employees and officers unions in the banking sector. These unions enjoy a considerable say in wage negotiations, which the IBA deals with every three years. 

All public sector banks, old generation private sector banks like HDFC Bank, ICICI Bank, Axis Bank and Federal Bank are members of the IBA. Some of the oldest foreign banks -- HSBC, StanChart and Citibank -- are also part of it. All of them come under wage settlements and other employee issues that are taken up by IBA.

New generation private sector lenders like Kotak Bank, IndusInd Bank and Yes Bank are outside the purview of IBA norms.

PTI Inputs

OYO cuts 25% salary of all employees in India for April-July; some sent on leave

OYO on Wednesday asked some of its staff in India to go on leave with limited benefits from May 4 for four months, and also asked all employees in the country to accept a cut in their fixed salaries by 25 per cent due to the impact of the COVID-19 on the hospitality industry. The company currently has around 10,000 employees in the country.

"We had to take the hard decision of placing some OYOpreneurs on a leave with limited benefits (LwLB) from May 4, 2020, for four months until August 2020," OYO India and South Asia CEO Rohit Kapoor said in an email send to the employees which have been accessed by PTI. Those going on this leave will avail benefits such as the continuation of medical insurance and parental insurance, school fee reimbursement and ex-gratia support, he added.

"In addition, to our colleagues on LwLB, in case there is an unforeseen medical emergency, we will support beyond the insured amounts, if the need so arises," Kapoor said. All these colleagues remain integral to the OYO family and "we hope we will be in a position to welcome them back into full-time roles sooner rather than later," he added.

OYO is taking all necessary actions to mitigate COVID-19's impact and ensure long-term success and sustenance of the business while ensuring there are no job cuts despite the economic pressures, Kapoor said.

When asked about the number of employees it is placing on leave, the company refused to share any numbers. The company, however, confirmed that the employees will receive an ex-gratia amount equal to a total of 60 per cent of the monthly fixed salary, paid in two equal instalments across May and June. OYO is also taking a difficult but necessary step for India, whereby the company is asking all employees to accept a reduction in their fixed compensation by 25 per cent. This will be effective for April-July 2020 payroll, Kapoor said.

"All other benefits and terms of your contract will remain unchanged. Also, note that this action will be planned in such a way that post the proposed pay cut, the fixed compensation for any employee is not less than Rs 5 lakh per annum.

“This ensures a large percentage of our colleagues at lower pay scales see no impact," he added. Earlier this month, OYO had started placing some of its employees on furloughs or temporary leaves in the US and other select markets on account of the slump in the hospitality industry due to COVID-19 pandemic.

"OYO has been a leading brand in the hospitality industry, hence the revenue impact of the crisis is significant - about 50-60 per cent revenue drop now... For our peer hotel chains in the industry, the revenue drop impact is as high as upwards of 75 per cent," OYO Founder and Group CEO Ritesh Agarwal had said at that time.

Amazon founder Jeff Bezos, already world's richest man, gets richer by $6.4 billion

The founder and CEO of Amazon, Jeff Bezos, added $6.4 billion to his fortune on Tuesday, on the back of overall gains registered in the market, with S&P Index climbing by more than two per cent, multiple news outlets have reported. Bezos' company Amazon's stocks witnessed a rise of 5.3 per cent, with a share trading for $2,283. The overall wealth of Bezos now stands at $138.5 billion.

Russian news agency Sputnik reported that Bezos is not the only member to feature in the Forbes' list of world's richest people to have added to his personal wealth during the unfolding coronavirus pandemic. The Walmart Family and Tesla CEO Elon Musk have also added a good deal of wealth to their kitty this year.

Sputnik also highlighted that even as the world's richest 500 people have lost $553 billion due to the economic slowdown caused by the outbreak, as per the Bloomberg Billionaire Index, their combined worth has risen by 20 per cent from March 23.

Businesses and supply chains have been disrupted as governments across the world have announced countrywide lockdowns in an effort to tackle the spread of the virus.

The International Monetary Fund (IMF) said on Tuesday that the global growth will be the hardest hit this year, the worst slump since the Great Depression and "far worse" than the Global Financial Crisis of 2008-09. "Under the assumption that the pandemic and required containment peaks in the second quarter for most countries in the world, and recedes in the second half of this year, in the April World Economic Outlook we project global growth in 2020 to fall to -3 percent. This is a downgrade of 6.3 percentage points from January 2020, a major revision over a very short period," the IMF said in its blog.

Sensex surges over 600 points in opening session; Nifty nears 9,200-level

Equity benchmark Sensex jumped over 600 points in opening trade on Wednesday tracking gains in index-heavyweights Reliance Industries, ICICI Bank and L&T even as concerns over coronavirus-led economic blow mounted. Following a high of 31,400.36, the 30-share index was trading 639.83 points or 2.08 per cent higher at 31,329.85. Similarly, the NSE Nifty was quoting 187.20 points, or 2.08 per cent, up at 9,181.05. 

Sun Pharma was the top gainer in the Sensex pack, rallying up to 5 per cent, followed by L&T, HUL, Axis Bank, UltraTech Cement, ICICI Bank. 

Reliance Industries jumped nearly 3 per cent after the company said it will raise Rs 9,000 crore through an NCD sale this week to refinance the existing high-cost rupee debt. 

On the other hand, ONGC, Maruti, Kotak Bank and Titan were the laggards. 

In the previous session on Monday, the BSE barometer ended 469.60 points or 1.51 per cent lower at 30,690.02, while the Nifty dropped 118.05 points or 1.30 per cent to 8,993.85. 

Market remained closed on Tuesday for Ambedkar Jayanti. 

Foreign portfolio investors (FPIs) were net buyers in the capital market in the last trading session, as they bought equity shares worth Rs 1,243.74 crore, according to provisional exchange data. 

The government, after market hours on Monday, notified Mauritius as an "eligible country", enabling its investment entities to register as Category-I FPIs with lower KYC requirements. 

Experts said that considering the size of investment in Indian capital market by overseas entities from Mauritius, this is a welcome move. 

According to traders, positive cues on the FPI front and stock-specific action pulled the market higher. 

However, concerns over the spike in COVID-19 cases and an extension in the nationwide lockdown in the country kept investors cautious. 

The death toll due to COVID-19 rose to 377 while the number of cases in the country climbed to 11,439 on Wednesday, according to the Union Health Ministry. 

Global tally of the infections has crossed 19 lakh, with over 1.2 lakh deaths. 

Meanwhile, bourses in Shanghai, Hong Kong and Tokyo were in the red. 

Stock exchanges on Wall Street ended significantly higher in overnight trade. 

Brent crude futures, the global oil benchmark, rose 1.35 per cent to USD 30 per barrel. 

Amazon to hire 75,000 more workers as orders increase during coronavirus pandemic

As the order requests are drastically rising, Amazon on Monday announced that it would hire 75,000 more workers. The decision comes less a month after the online retailer hired 100,000 extra staff to handle coronavirus-induced demand. 

According to reports, the hiring of additional workers to help meet customer demand and fulfill orders will bring the company's workforce to just under 1 million worldwide. The company said its move to temporarily increase the hourly pay of its workers — by $2 globally — would now cost more than $500m, up from its initial estimate of $350m as reported by Financial Times. 

Meanwhile, warehouse workers continue to demand better safety measures, with some going on strike, as employees at more than 50 facilities have tested positive for COVID-19.

Coronavirus case tally worldwide has crossed the 19 lakh mark. As of Tuesday morning, 07:00 am, 1,924,618 people worldwide have been infected with the virus while 119,682 people have died. While the US closes in on 600,000 cases, the death toll in the country has reached 23,640 making the United States the worst impacted country by COVID-19. 

Sensex slips 600 points; Zee Entertainment tumbles 10%

Indian equity markets ticked lower on Monday amid weak global cues and the buzz of a lockdown extension beyond April 14.

Among headline indices, the S&P BSE Sensex dipped 660 points, or 2.08 per cent, to 30,500 levels and the Nifty50 index hovered around 8,920 levels, down 188 points. Bajaj Finance (down 7%), Mahindra & Mahindra (down 6%), and Titan (down 5%) were the top laggards while Bharti Airtel jumped 2 per cent. Zee Entertainment, on the other hand, dipped 10 per cent. 

Majority of the Nifty sectoral indices were in the red, led by Nifty Auto index, down 2 per cent. On the other hand, Nifty Pharma index was up 1.8 per cent.

Shares of Zee Entertainment Enterprises Ltd (ZEEL) fell 10 per cent to Rs 135 on the BSE on Monday after the media major invested Rs 522 crore in tech subsidiary Margo Networks, which offers streaming and advertising services under the ‘SugarBox’ brand name. ZEE owns 80 per cent in Margo.

Till 09:34 am, a combined 1.8 million equity shares had changed hands and there were pending sell orders for 330,000 shares on the BSE and NSE. In comparison, the S&P BSE Sensex was down 1.7 per cent at 30,608 points.

“The Company will invest a sum of Rs 522 crore in SugarBox over a period of time and will provide operational support including through providing performance and corporate guarantees as appropriate and necessary and has authorized SugarBox to finalize the terms of 10 years contract with RailTel Corporation of India Limited,” ZEE said in exchange filing

ZEE had acquired 80 per cent equity stake in SugarBox in 2017. This investment was made to exploit strong synergies of the technology developed by SugarBox with the current business of the Company and with a potential to significantly augment the digital content consumption.

SugarBox operates in the content delivery network (CDN) and telecommunications industry and is engaged in providing hyperlocal content distribution services at key places of interest, including public transport, rural areas, public places, hospitality and residential areas by setting up storage, compute, wired and wireless connectivity infrastructure.

The additional investment will be used for operational and financial support. “Our investment in SugarBox gives a strong fillip to our overall digital business, sharpening its approach by many folds," the company said. SugarBox is expected to close FY20 with a turnover of Rs 47 lakh, it said.

 

GLOBAL CUES
 

And, in the end, let's have a look at global cues for today's trade. The US Futures and Asian stocks were largely lower in Monday's early deals. Japan's Nikkei and South Korea's Kospi slipped over 0.5 per cent each.

In commodities, oil jumped on Monday after major oil producers reached a deal for a record 10 million barrels per day output cut to support oil prices amid the pandemic. Consequently, Brent crude futures rose over 5 per cent to $33.19 a barrel early Monday.

(with inputs from Reuters)

Aadhaar card can get you Rs 3.97 lakh from this LIC policy, check Aadhaar Stambh Plan-843's features

The Life Insurance Corporation of India (LIC) has various small savings schemes where subscribers get great benefits and returns at a low premium. The Aadhaar Stambh (Plan-843) is one such scheme that is customised specially for Aadhaar card holding males to generate around Rs 4 lakh money after maturity. Apart from being a premium small savings scheme it also gives investors good after death benefits too.

Speaking about the policy, Jitendra Solanki — SEBI registered tax and investment expert, said, "LIC Aadhaar Stambh is an insurance policy which provides both protection and savings. The plan is only for male applicants and an Aadhaar card is mandatory for buying this LIC plan. Some of the benefits offered in this small saving scheme of the LIC are death and maturity benefit as well as add-on riders." 

In case of the sudden death of the policy holder before the end of the plan term, his or her nominees will be entitled to the death benefit. In case the policyholder survives the policy term, they will be entitled to a maturity benefit, which is paid in lump sum.

Features of Aadhaar Stambh (Plan-843)

Men holding Aadhar cards and between the ages 8 to 55 years can buy this LIC Aadhaar Stambh Policy. The applicant's maximum age at the time of policy scheme maturity must not be above 70 years. The minimum basic sum assured offered under the Aadhaar Stambh LIC Policy is Rs 75,000 while the maximum basic sum assured is Rs 3,00,000, sum assured is provided in multiples of Rs 5,000. This LIC policy is offered for the period of 10 years to 20 years.

An Aadhaar card holder opting for the Aadhaar Stambh LIC Policy can expect to get a maturity amount of Rs 3.97 lakh after investing for 20 years and paying an annual premium of Rs 10,314, as per an LIC Maturity Calculator.

The risk coverage under this plan commences immediately from the date of policy issue. 

Joint Effort: Cannabis Consumption on a 'High' in US Amid Coronavirus Lockdown

As Americans practice isolation and social distancing amid rising coronavirus cases and deaths, it seems many are turning to cannabis to ease the pain and stress of lockdown.

Cannabis usage reached the highest ever in mid-March in the United States as worried stoners bought large consignments to stock up for rainy days. A survey conducted by Cowen & Co in march with 2,500 respondents found that 33 percent had tried cannabis at some point in life. This is a record "high" for the US, Bloomberg reported.

As per the report, adult-use cannabis sales increased by 64 percent by the end of the second week of March. A report in Associated Press from ten days later cited that demand for legal cannabis and related products had increased two-fold and California and by 50 percent in Washington, as per data in the cannabis industry tracker Headset.

Shares of cannabis dispensaries also gained value as several parts of the United States went into complete lockdown.

Nevertheless, Headset data pointed toward a decreasing sales trend by the end of March as the lockdown affected the financial stability of consumers.

Analysts at Cowen found a "more pronounced deterioration in job security for past-month cannabis consumers relative to the general population".

Ever since the novel coronavirus outbreak, many have been stockpiling cannabis across the world. In the US where cannabis currently has a quasi-legal status, cannabis dispensaries have been allowed to function as "essential services" in several states.

However, a report in Insider quotes lung experts who said that smoking marijuana or cannabis could severely impact a person's susceptibility to coronavirus and may have a negative impact on health.

France Hits Recession As Economy Shrinks 6%; India's GDP to Decline To 4.8%, Says UN Report

New Delhi: The spread of Covid 19 virus has weighed heavily on economies globally with France plunging into its worst recession with the economy contracting around six per cent in the first quarter of FY21. The central bank in France estimated that the contraction is its worst quarterly performance since World War II.

As the crises took a worse turn with the number of cases increasing, the central bank said the economic activity declined 32 per cent in the last two weeks of March.


It has estimated that for every two weeks during the lockdown the economy will see a decline by 1.5 per cent. A lockdown in France was effective from March 17 and has been extended by two weeks to April 15 and can be further extended if the situation remains grim. The central bank said construction, transport, restaurants, and lodging were the most affected sectors.

On Wednesday, around 541 new deaths were reported in France taking the toll from the deadly disease to 10, 869.

Germany is also expected to brace up for a recession with economic activity taking a hit due to Covid 19 lockdown. According to leading research institutes in Germany, the gross domestic product (GDP) is likely to dip by 4.2 per cent in 2020 because of the Covid 19 lockdown.

Infections increased by 5,633 on Thursday, compared with an increase of 4,288 a day earlier, according to data from Johns Hopkins University. Germany registered 333 new deaths from the virus, the highest daily toll so far.

The experts have said economic output was likely to have shrunk 1.9% in the first three months of the year alone. The Federal Statistics Office is expected to announce the official figure for first quarter on May 15.

Meanwhile, back home India's GDP growth for the current fiscal is expected to slow down to 4.8 per cent, according to an UN report.

The report named UN 'Economic and Social Survey of Asia and the Pacific (ESCAP) 2020: Towards sustainable economies' mentioned that the outbreak is having far-reaching economic and social consequences for the region, with strong cross-border spillover effects through trade, tourism and financial linkages.

The report estimated India's GDP growth for the fiscal year 2019-2020 at 5 per cent and expects it to decline to 4.8 per cent for the current fiscal 2020-21.

Sensex surges 1,265.66 points, Nifty ends above 9000; Maruti Suzuki, M&M, Cipla major gainers

New Delhi: Equity benchmark indices on Thursday (April 9) ended higher amid hopes of another stimulus package from the government in the coming days. The Sensex closed up 1,265.66 points or 4.23% at 31159.62, while the broader Nifty also ended up 363.15 points or 4.15% at 9,111.90. Major gainers on the Nifty were Maruti Suzuki, M&M, Cipla, Tata Motors and Titan Company while HUL, Tech Mahindra, Dr Reddy's Lab, and IndusInd Bank were the top laggards.

During early hours on Thursday, equity indices in line with Asian peers after Wall Street`s overnight rally with investors hoping that coronavirus pandemic in the United States was nearing its peak. At 10:15 am, the BSE Sensex was up by 785 points or 2.62 per cent at 30,679 while the Nifty 50 edged higher by 245 points or 2.8 per cent at 8,993. 

All sectoral indices at the National Stock Exchange were in the green with Nifty pharma up by 5.6 per cent, auto by 4.8 per cent, metal by 4.1 per cent and private bank by 3.7 per cent. Among stocks, Cipla jumped by 14 per cent to Rs 584.50 per share after it got final approval for a key abbreviated new drug application from the US Food and Drug Administration. 

Tata Motors was up by 9.9 per cent to Rs 74.35 per share while metal majors JSW Steel and Vedanta gained by 8 per cent and 6.9 per cent respectively.The other prominent winners were Hero MotoCorp, Kotak Mahindra Bank, HDFC and GAIL. However, Hindustan Lever was down by 1.6 per cent.

Meanwhile, global shares rose today on hopes the COVID-19 pandemic was nearing a peak and that governments would roll out more stimulus to support their economies. European stock markets gained for a fourth straight day, with investor attention also focused on a meeting of European Union finance ministers to discuss an economic rescue package.

The pan-European STOXX 600 index was up 1.7%, with battered travel and leisure stocks, autos, and mining companies leading early gains. MSCI`s All-Country World Index, which tracks shares across 49 countries, was up 0.5% to its highest since March 12. US stock futures were up 1% after bouncing in and out of positive territory in Asia.

In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan was up 1.56%, following a strong Wall Street close.
Shares in China, where the novel coronavirus first emerged late last year, rose 0.42%. Australian shares were up 2.54%.

Oil prices extended gains on hopes major producers would agree to cut output when they met later in the day in response to a collapse in global oil demand.

New York Governor Andrew Cuomo said the state`s efforts at social distancing were working in getting the virus under control in one of the biggest hot spots in the United States.

US President Donald Trump said he would like to reopen the US economy with a "big bang" but that the death toll from the coronavirus first needs to be heading down. The S&P 500 gained 3.41% on Wednesday, helped by hopes the pandemic was nearing its peak.

Japan`s Nikkei stock index bucked the regional trend and fell 0.46% as coronavirus infections in the country rose. Markets were also jittery following the government`s declaration of a state of emergency for Tokyo and other urban areas.

Meanwhile, the euro gained against the dollar and the pound on hopes eurozone finance ministers would agree on more support for their coronavirus-hit economies.

Sterling held onto gains versus the dollar. Helping confidence was news British Prime Minister Boris Johnson`s condition was improving. Johnson, who was diagnosed with COVID-19 late in March, was taken to intensive care two days ago after his condition deteriorated.

Against a basket of its peers, the dollar fell 0.1%. US crude rose 5.3% to $26.42 a barrel. Brent crude rose 3% to $33.83 per barrel.

(With Agency Inputs)

MARKET LIVE: Sensex zooms 800 points, Nifty reclaims 9k; Cipla surges 15%

Indian equity markets were trading firm on Thursday after Wall Street's overnight rally on hope that the coronavirus outbreak in the United States was close to a peak

Among headline indices, the S&P BSE Sensex was up 850 points, or 2.86 per cent, at 30,750 and the Nifty50 index reclaimed the psychological level of 9,000, up 265 points, or 3 per cent. Index heavyweight HDFC, up 5 per cent, was the top contributor to the Sensex's gain. Besides, Bajaj Finance, ICICI Bank, Axis Bank, and ONGC were all up over 4 per cent.

All the Nifty sectoral indices were in the green, led once again by Nifty Pharma index, up 5 per cent. Among the index's components, Cipla (up 15%) and Lupin (up 10%) were the top gainers.

The broader market also tracked gains in the main indices. The S&P BSE MidCap and SmallCap indexes were both up over 2.5 per cet each.

Government to release all GST, customs refund worth Rs 18k crore

In a bid to provide relief to businesses hit by the Covis-19 pandemic, the Government on Wednesday said it will release all GST & Customs refunds to provide benefit to around 1 lakh business entities including MSMEs “It has been decided to issue all pending GST and Custom refunds which would provide benefit to around 1 lakh business entities, including MSME. Thus, the total refund granted will be approximately Rs. 18,000 crore,” said a statement. 


The Government also said it would provide immediate relief to the business entities and individuals by releasing all the pending income-tax refunds up to Rs. 5 lakh, immediately. This would benefit around 14 lakh taxpayers. 

“Speedy online IT, GST and Customs refunds without human intervention, even upto Rs 5 lakh, should assuage the situation of MSMEs, who would be under extreme cash crunch,” said Harpreet Singh, Partner, KPMG. To provide relief to businesses grappling with the economic impact of Covid 19, the Government on March 24 had extended the filing of Return for the month of March, April and May 2020 and composition returns under GST June 30. 

The Finance Minister also said companies which have less than Rs 5 crore turnover will not have to pay interest, late fee or penalty. For bigger companies late fee and penalty will not apply and only interest at a reduced rate of 9% will be charged. 


However, taxpayers have been demanding more and a significant wish was the refund of stuck GST. “As a next step Government could look at, expediting issuance of benefits under Foreign Trade Policy i.e. Service Exports India Scheme (SEIS) and duty drawbacks. This could provide relief to lot of small service and goods exporters,” adds Singh

All Pending Income Tax Refunds Up To Rs 5 Lakh To Be Released Immediately

In a measure that is expected to provide relief to the taxpayers amid the outbreak of deadly coronavirus (COVID-19), the government on Wednesday decided to release all pending income tax refunds up to Rs 5 lakh immediately.

In a press note released by the finance ministry, the government said that the move will benefit as many as 14 lakh taxpayers. 

Income Tax India

✔@IncomeTaxIndia

In context of COVID-19 situation & to grant immediate relief to taxpayers, GOI has decided to issue all pending income-tax refunds upto Rs.5 lakh & GST/Custom refunds with immediate effect.@nsitharaman @nsitharamanoffc @Anurag_Office @FinMinIndia @PIB_India @cbic_india #StaySafe

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Besides, all pending GST and custom refunds will also be released benefiting close to 1 lakh businesses, the note stated. The total refund amount will be to  the tune of Rs 18,000 crore, finance ministry said.

The latest move by the finance ministry comes after the government last month decided to provide a fiscal stimulus package worth Rs 1.7 lakh crore to help the poor and migrants tackle the financial difficulties arising from the coronavirus (COVID-19) outbreak, and the 21-day nationwide lockdown that began the previous day.

Finance Minister Nirmala Sitharaman announced a medical insurance cover of Rs 50 lakh per person for those on the frontline of the fight against the deadly coronavirus outbreak, including doctors, nurses and sanitation workers.

Meanwhile, Prime Minister Narendra Modi suggested today that the lockdown to check the spread of coronavirus will be extended and restrictions will not be lifted in one go after April 14, amid a spurt in COVID-19 infections in the country.

In a video meeting with leaders of all parties, PM Modi reportedly said he would consult with Chief Ministers but by all accounts the lifting of the lockdown "is not possible".