India will get an emergency fund of $ 1-billion from World Bank to fight the COVID outbreak. At least 53 people died and over 2000 people have reportedly been infected so far in the country. $1 billion emergency fund will help India to better screening, contact tracing, and laboratory diagnostics; procure personal protective equipment, said World Bank.
E-commerce majors such as Amazon, Flipkart and 1MG have temporarily suspended cash on delivery option in order to avoid direct contact between their delivery executives and the customers. Some of the platforms are said to have taken contact-less delivery mode in which delivery boy would leave the parcel at the doorstep and ask customers to collect it.
State Bank of India (SBI) has moved swiftly to introduce a fresh line of credit for companies and corporates affected by the novel Coronavirus (COVID-19) pandemic. This loan facility will be called the COVID-19 Emergency Credit Line (CECL) and it will be available to all eligible borrowers of the SBI bank. It carries an interest rate of 7.25%.
The Centre is said to be considering to hike the excise duty on petrol and diesel at least Rs 2 a litre for finding additional revenue to declare stimulus fund to address the coronavirus outbreak. After the fall of international crude oil prices, India has stopped retailers have suspended the daily price revision based on swings in global crude prices.
Popular social media platform Snapchat announced they will launch ‘Here For You’, a tool to spread awareness about mental health. The company will accelerate the launch of the feature with additional focus giving information about the coronavirus outbreak. They will curate information from the World Health Organization and Centers for Disease Control.
Netflix and YouTube will reduce the default image quality of streaming video in Europe. This is to ease pressure on the internet as demand soars with millions of people confined to their homes over coronavirus fear. EU urged the internet giants to switch to the former standard definition. They will adjust their systems to use less network capacity.