Mumbai, Indian stock markets erased all their initial gains on Friday afternoon, with the BSE Sensex trading over 250 points lower, although the Reserve Bank of India (RBI) announced an emergency rate cut of 75 basis points.

The 30-stock Sensex tumbled after gaining over 1,100 during the initial trade.

New Delhi,  In a big relief to the corporate sector, the Reserve Bank of India on Friday allowed a three month moratorium on payment of instalment in respect of all term loans outstanding on March 1, 2020.

"All commercial banks (including regional rural banks, small finance banks and local area banks), c

Kolkata,  FMCG major, ITC has set up a Rs 150 crore Covid Contingency Fund for vulnerable sections of society who have been affected by the pandemic.

In a statement, ITC said this fund will be utilised primarily to provide relief to the vulnerable and most needy sections of society who have been harshly impac

Mumbai,  The Reserve Bank of India (RBI) on Friday massively reduced the key lending rates in response to the Covid-19 outbreak.

Accordingly, the Monetary Policy Committee of the central bank in an unscheduled meet reduced the repo rate, the key interest rate at which the RBI lends short term funds to commerc

New Delhi,  Global software major Cognizant on Friday announced an additional payment of 25 per cent of the base pay for April for employees up to 'Associate level in India and the Philippines in the wake of the new coronavirus (COVID-19) pandemic.

This applies to more than two-thirds of the India workfor

New Delhi,  Raising grave concerns over the economic impact of the novel coronavirus pandemic, RBI Governor Shaktikanta Das on Friday said that there is high probability of parts of the global economy slipping into a recession.

Das noted that the global economic activity has come to a near standstill as COVID

Dubai,  Authorities in Dubai taking steps to help stranded passengers, including 22 Indians, who were in transit at the airport here when their home countries suddenly stopped inbound flights due to the coronavirus pandemic, it was reported on Friday.

Dubai Airports has issued a statement informing that

Manila,  The Philippines has cancelled its biggest annual joint military exercise with the US this year due to the coronavirus pandemic, a high-ranking official said on Friday.

Rear Admiral Adelius Bordado, the co-exercise director of the exercise dubbed as 'Balikatan 2020', said that the Armed Forces

Canberra,  Australian Prime Minister Scott Morrison on Friday announced that every person who arrives in the country from Sunday onwards will be forced into a 14-day quarantine period as a preventive measure against the coronavirus pandemic.

Amid growing concerns over arrivals not abiding by existing quaranti

Wellington,  The New Zealand Defence Force (NZDF) on Friday confirmed seven coronavirus cases among its members, a spokesman confirmed.

The seven cases were all related to overseas travel and have been reported to health authorities, Xinhua news gency quoted the NZDF spokesperson as saying.

The