Industry

File Photo: Reuters
File Photo: Reuters

Covid-19 impact: Spotify listening is softer, more newsy

  • Swedish audio streaming platform says the corona outbreak has changed music listening in radical ways
  • Spotify says with fewer people streaming from their cars during their daily commutes and an increase in work from home, more people are streaming across devices like computer desktops, TVs, smart speakers, and gaming consoles

Netflix has released films such as Love Per Square Foot, Drive and others directly on its platform. Photo Imaging: Kishore Rawat
Netflix has released films such as Love Per Square Foot, Drive and others directly on its platform. Photo Imaging: Kishore Rawat

Video streaming platforms brace for content crunch as covid-19 crisis worsens

  • The biggest hit will come from the delayed availability of big-ticket movies whose makers currently have no clarity on when theatres will open
  • All production activities have been stalled as per orders of producers and employees associations earlier this month

Visitors at a Sufi concert by the Nooran Sisters at Jashn-e-Rekhta in December. Photo: Rekhta
The legal process for merger of PNB, OBC and UBI is over.
Bank of Baroda has immediately transmitted interest rate changes announced by the Reserve Bank of India to its customers. (Reuters)
Bank of Baroda has immediately transmitted interest rate changes announced by the Reserve Bank of India to its customers. (Reuters)

Bank of Baroda cuts repo-linked lending rate by 75 bps

  • Bank of Baroda cuts repo-linked lending rate
  • This will bring down the interest rate on personal, retail and MSME loans with effect from 28 March

Union Finance Minister Nirmala Sitharaman. (PTI)
Investors are counting on RBI support as fears grow that the government will add to its record borrowings
Investors are counting on RBI support as fears grow that the government will add to its record borrowings

Despite RBI's bazooka, Indian bond market still wants more

  • Yields have fallen from this year’s high as the RBI conducted open-market bond purchases and also injected cheap rupee liquidity.
  • Even so, calls for it to do more are growing as investors await the details of the government’s borrowing plan

SBI has also resorted to staggered working hours to maintain social distancing in the wake of coronavirus outbreak. (Mint)
SBI has also resorted to staggered working hours to maintain social distancing in the wake of coronavirus outbreak. (Mint)

SBI adds Covid-19 to compensation list of its employees

  • SBI has made modifications to the Scheme-I to cover employees affected on account of Covid-19 infection
  • Bank employees in the event of death/ disability/ serious injury while on duty are covered under the Scheme-I for payment of compensation

LPG demand has gone up significantly which can be due to panic buying though there is no shortage. (PTI)
LPG demand has gone up significantly which can be due to panic buying though there is no shortage. (PTI)

Home cooking during lockdown pushes up LPG cylinder demand by 20%

  • Indian Oil has introduced a system of booking LPG cylinder refill only after a gap of 15 days after the last refill
  • Fuel retailers have clarified that there is no shortage of LPG in India

pmcares@sbi is the correct UPI ID for collecting coronavirus funds.
This combination medication is indicated for the treatment of Parkinson’s disease or Parkinson-like symptoms
This combination medication is indicated for the treatment of Parkinson’s disease or Parkinson-like symptoms

Zydus Cadila gets tentative nod from USFDA for Parkinson's treatment capsule

The approval by the US Food and Drug Administration is for Carbidopa and Levodopa extended-release capsules in the strengths of 23.75 mg/95 mg, 36.25 mg/145 mg, 48.75 mg/195 mg, and 61.25 mg/245 mg, Cadila Healthcare said in a regulatory filing.

Retail prices of petrol and diesel in India track global prices, not crude, but are broadly linked to crude oil price trends. Photo: Bloomberg
Retail prices of petrol and diesel in India track global prices, not crude, but are broadly linked to crude oil price trends. Photo: Bloomberg

US crude oil prices touch 18 year record low

  • The West Texas Intermediate on Monday was trading at a recent record low of $20.51 per barrel
  • The fall in crude oil prices has placed major consumers such as India at an advantage

SBI has requested everyone to come together and help the nation fight this coronavirus pandemic, (Mint)
Earlier this month, SBI lowered its savings bank interest rate to 3% for all customers. (Photo: Mint)
Earlier this month, SBI lowered its savings bank interest rate to 3% for all customers. (Photo: Mint)

Deposit rates seen lower as banks swim in liquidity with little to lend

  • This decline in deposit rates could be more pronounced in public sector banks as the sentiment surrounding their private peers
  • For the 10 banks set to be merged into four on 1 April, the deposit rate cuts could be announced soon after the process is complete

China’s industrial production and retail sales fell by 14% and 21% in January and February combined.
China’s industrial production and retail sales fell by 14% and 21% in January and February combined.

COVID-19 outbreak takes heavy toll on India’s exports to China in February

  • India’s exports to China dropped 13.7% in February to $1.1 billion while shipments to Hong Kong declined 62.4% to $681 million
  • Imports from China fell 13.3% to $4.4 billion while imports from Hong Kong which was less affected by COVID-19 picked up 3.7% to $1.1 billion

(Photo: Indranil Bhoumik/Mint)
Photo: Mint
RBI has issued statements stating that the mega merger plan will come into affect from April    (Mint)
RBI has issued statements stating that the mega merger plan will come into affect from April (Mint)

Mega merger of PSU banks comes into force from April 1, says RBI

  • Bank unions want the merger plan to be delayed due to the coronavirus lockdown
  • Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country

The company also released a prepaid plan to provide data for users working at home
Photo: Mint
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