Numerous quotes concerning the effect of the coronavirus pandemic on the world economy are beginning to gather, with many calling the current crisis as worse than the 2008 worldwide financial crisis.
Stocks are off to a strong start today with gains of over 3%. The Sensex has acquired close to a thousand points while the Nifty is trading near the 9,00 0 mark. This has actually helped the rupee post some gains versus the US dollar.
3: 00 PM
Companies take advantage of credit limit to weather crisis
Companies worldwide have tapped banks for $200 bn in less than 3 wks, as they shore up finances in the middle of coronacrisis. Investment-grade compensations have been most active w/ >60 borrowers getting $143 bn of funds either by drawing cash from existing centers or by raising new loans. (BBG) pic.twitter.com/D2uFY6BMwl
— Holger Zschaepitz (@Schuldensuehner) March 27, 2020
2: 00 PM
Lockdown hits electrical power demand
The shutdown of the majority of financial activity the last few days has, not remarkably, dented the general demand for electricity in the country.
1: 15 PM
RBI suggestion for moratorium on EMI payments half-hearted, says Chidambaram
Former Financing Minister P. Chidambaram on Friday invited the Reserve Bank of India’s (RBI) relocation to infuse liquidity into the markets but declared that its suggestion for a three-month moratorium on EMI repayments was ‘half-hearted’.
” I welcome the RBI’s choice to cut the r
