Even as governments across the world debate over how to reopen their markets in view of the spread of COVID-19, that has affected more than 3.6 million people across 215 nations and led to 254,000 deaths, the Indian market today has shown remarkable resilience in line with global markets.
The Sensex is close to the 32,000-mark, trading at over 450 points. Markets in Japan, Australia, and South Korea, too, have shown steady gains. Dow Jones and Nasdaq too showed encouraging gains after almost a quarter of market cap of major companies was wiped out in the last few trading sessions.
Meanwhile, Mukesh Ambani’s Jio Platforms has managed to rope in yet another investor. Reliance Jio & Vista Equity Partners deal: Everything to know about it
And amidst this gloom, India’s largest lender -- the State Bank of India -- has added to the common man’s woes as it increased home loan interest rates by 0.20% for new borrowers. Not that too many people are buying real estate. Yet, the news isn’t particularly heartening as other banks are likely to follow suit. SBI’s home loan becomes costlier
The impact of the lockdown on the economy and corporate earnings has led to much pain. There have been job losses, pay cuts and profits are plunging.
A case in point: Cognizant Q1 net falls 16.7 pc to $367 million
The picture is as dismal across the developed world too. British consumers’ confidence has dropped to an all-time low as COVID-19 related deaths in the United Kingdom go well past 30,000 and the lockdown remains firmly in place. UK consumer confidence near all-time low amid COVID lockdown
With the future looking uncertain for corporates, economies and individuals alike, it is time you took some smart decisions to keep your money safe. Rising unemployment, fewer jobs and signs of tougher times to come, you would be well advised to handle your money wisely. So here’s some advice: COVID-19: 6 ways to manage your money better
We pray that you are never faced with a situation where you don’t have money for an emergency, but, God forbid, if such a contingency does arise, then SBI is here to come to your rescue. Check this out: SBI's Emergency Loan Scheme: Get Rs 5 lakh in just 45 minutes
Of course, for the salaried class, there is one more avenue from which to raise funds in you are in dire need. You can dip into your PF account, but there are guidelines to follow. EPF Withdrawal: How To Check And Update Bank Account Details In EPF A/c?
India’s automobile sector is amongst the worst hit during the course of the coronavirus pandemic. But automakers are not throwing the towel just yet. Honda has plans for a new SUV for the Indian market. Take a look: Honda Plans A Sub-4 Metre Compact SUV For India — Likely To Be Called ZR-V
Another industry that has been crippled due to travel bans and lockdowns is aviation. Most of the airlines in India, even before the virus spread, were in the red and fighting to keep afloat. Now with social distancing norms being made stricter, there was a proposal that only the aisle and the window seats be occupied, leaving the middle seat vacant. The government however feels differently. Keeping middle seat vacant not an option for airlines as margins are too thin: Aviation Minister