The finance minister has relaxed the rate of interest on due taxes from 12% earlier to 9% per annum (Photo: iStock)
The finance minister has relaxed the rate of interest on due taxes from 12% earlier to 9% per annum (Photo: iStock)

Tax deadlines, penalties you needn’t worry about

  • Deadlines have been relaxed but use the lockdown to take care of your unfinished tasks
  • Many of these tasks such as paying due taxes and investing in tax-saving instruments can be done online

Ola cabs in a private parking area at Horamavu Agara Hobli on the outskirts of Bengaluru on Wednesday.  (Photo: Samuel Rajkumar/Mint)
Ola cabs in a private parking area at Horamavu Agara Hobli on the outskirts of Bengaluru on Wednesday. (Photo: Samuel Rajkumar/Mint)

How the gig economy hurts the small guy

  • Internet startups have moved to protect employee salaries, but who will take care of the drivers and deliverymen?
  • As far as drivers and blue-collar workers are concerned, the crisis makes it clear that it’s much safer and more lucrative to seek employment in traditional forms rather than in the gig economy

The total number of coronavirus cases in India has risen to 1965. (Reuters)

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A health worker sanitises an area near Nizamuddin mosque, after people who attended the religious congregation at Tabligh-e-Jamaat's Markaz (PTI)
Manufacturing PMI for India declined to 51.8 in March from 54.5 in February (Bloomberg)
State companies - Indian Oil, HPCL and BPCL - own about 90% of India's retail fuel outlets (PTI)
Banks have requested all beneficiaries to cooperate and ensure safety and comfort of everyone
Kotak management said it was working on three scenarios of the covid-19 impact, one of which it believes would play out. (Mint)
Kotak management said it was working on three scenarios of the covid-19 impact, one of which it believes would play out. (Mint)

Kotak Bank’s version of covid-19 impact is scarier than HDFC Bank’s

  • The covid-19 outbreak and the subsequent lockdown to contain its spread will no doubt hit every sector of the economy
  • The toughest task for Kotak Bank is to protect its balance sheet, which was at 3.23 trillion as of December

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While the customers get the benefit for now, banks will recover the cost post the moratorium is over, resulting in higher EMIs.
While the customers get the benefit for now, banks will recover the cost post the moratorium is over, resulting in higher EMIs.

Customers fret as public, private banks differ on moratorium

  • While customers of some banks must opt in for the relief, others will be automatically eligible for it
  • Banks will recover the cost once the moratorium is over, resulting in higher EMIs or increasing the tenure if the person can’t afford higher EMIs

Currently, Axis Bank has about 3,800 branches across the country. Photo: Mint.
The government has acknowledged that the real number of infections could be much higher due to limited testing. (via REUTERS)
The government has acknowledged that the real number of infections could be much higher due to limited testing. (via REUTERS)

Spain reports its highest number of coronavirus deaths in a day

  • New coronavirus infections in Spain rose nearly 8% overnight to 110,238
  • Spain is close to Italy, the country that so far has the worst outbreak in Europe

The fast-spreading virus that has caused at least 4,476 deaths in the United States. (AFP)
Many private schools are sending messages to students' parents to deposit school fees. (Mint)
Many private schools are sending messages to students' parents to deposit school fees. (Mint)

Chhattisgarh CM orders private schools to stop fee recovery during shutdown

  • Bhupesh Baghel has instructed all private schools to stop pressurizing parents to deposit fees of the students during the lockdown
  • He had last month issued an order that would ensure general promotion to the students of the state studying from class 1 to 9 and class 11

Photo: Pradeep Gaur/Mint
If you do not want the HDFC Bank EMI moratorium, no further action is required from your side (Reuters)
If you do not want the HDFC Bank EMI moratorium, no further action is required from your side (Reuters)

HDFC Bank loan EMI moratorium: All your questions answered

  • The bank in an email and text message to its customers said the prevailing situation may pose a huge challenge for people
  • All HDFC Bank customers who have availed of retail instalment loan or any other retail credit facilities prior to 1st March 2020 are eligible

Photo: iStock
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A file photo of industrialist, philanthropist Ratan Tata with Cyrus Mistry (Photo: PTI)
A file photo of industrialist, philanthropist Ratan Tata with Cyrus Mistry (Photo: PTI)

Tata-Mistry rivalry continues, share pledges latest flashpoint

  • Article 75 of Tata Sons’ Articles of Association says the privately held company has the first right to buy if any shareholder decides to sell shares
  • The article also empowers it to direct its shareholders to sell their holdings by passing a special resolution

Bearish positions on rupee remained around their highest levels since October 2018 (REUTERS)
Of the 152 positive cases in Delhi, 53 are from Nizamuddin. (Photo: PTI)
Share market traders on Dalal Street will get a lesser number of holidays in the new year 2020. Aniruddha Chowdhury/Mint
According to Johns Hopkins, the US leads the world in number of cases of new coronavirus, with 215,417.
A file photo of a train coach that has been converted into an isolation ward for covid-19 patients. (Photo: AP)
A file photo of a train coach that has been converted into an isolation ward for covid-19 patients. (Photo: AP)

As cases rise, makeshift hospitals are the need of the hour

The next 2 weeks will be crucial to such an effort, say experts who have given the govt the blueprint for response efforts

A visitor stands in front of private stock trading boards
Medics examine patients for Covid-19 during a nationwide lockdown in the wake of the disease, in Hyderabad (Photo: PTI)
This is in stark contrast to expectations of a relatively faster pace of earnings growth in the subcontinent before the lockdown.
From The Wall Street Journal
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(Photo: Mint)
Photo: Reuters
Photo: Reuters

RBI's moratorium to hurt corporate borrowers

  • SBI says corporate customers who had availed loan will have to pay the 4-month interest by the end of June, failing which they will be classified as Special Mention Account 1
  • SBI is exploring the option of initiating a dialogue with Indian Banks' Association to allow restructuring of working capital loans in the case of businesses which have been affected

The popular and more affordable older iPhones have also got bigger price tags than before (Reuters)
Delhi CM Arvind Kejriwal (Photo: ANI)
There are over 1,600 coronavirus cases in India
WhatsApp new multiple-device feature is a long way from a stable update (Bloomberg)
Making a nomination is not mandatory.  (Photo: iStock)
Making a nomination is not mandatory. (Photo: iStock)

Having a nominee for your MFs can ease the transmission process after death

  • In the absence of nomination, the claimants have to provide documents such as death certificate, Will or other proofs of entitlement to be able to establish their claim on the mutual fund units
  • You can change the nomination anytime after it is made by cancelling the existing nomination or making a fresh one, which will overwrite the existing one

Labourers take rest on a goods cart during the nationwide lockdown in the wake of coronavirus outbreak, in old Delhi. (PTI)
Photo: iStock
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