india

Updated: Apr 17, 2020 17:43 IST

The Maharashtra government on Friday ordered landlords to delay rent collection by at least three months and to not evict tenants from their properties during that period as the nation battles the coronavirus pandemic.

There is also a countrywide lockdown in place till May 3 to halt the spread of deadly coronavirus infection.

Maharashtra, Delhi and Tamil Nadu continue to struggle with the rising number of coronavirus cases. These states, together with Rajasthan and Madhya Pradesh, account for more than 60% of total number of cases in the country.

Prime Minister Narendra Modi, in his appeal to the nation, urged citizens to be sensitive to people who work with them in their businesses. He also advised them not to sack people working for them.

Maharashtra deputy chief minister Ajit Pawar has asked all guardian ministers to ensure smooth distribution of food grains to the poor during the covid-19 lockdown so that the government is not defamed unnecessarily.

Earlier today, the Reserve Bank of India (RBI) announced a series of measures to infuse liquidity in the system and provide relief to borrowers amid the crisis.

To begin with, RBI has cut the reverse repo rate by 25 basis points — from 4% to 3.75% — encouraging banks to “deploy surplus funds” and lend more, a move that will in turn result in cash in the hands of the borrower.

According to a Bloomberg report, India’s economy may be heading for its first full-year contraction in more than four decades amid extended lockdown to contain the coronavirus outbreak.