Can India succeed where Britain failed in fight against Covid?

Home services startup Urban Company, formerly UrbanClap, has partnered with Srinidhi Foundation to set up a relief fund to support gig workers and independent contractors on its platform and their families over the next few months.

• No cash as Etailers go completely contactless
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The proceeds of the fund will help towards the welfare and upliftment of drivers and their families who have been affected by the restrictions due to the Covid- 19 pandemic.

• Milkbasket resumes partial operations; services in Hyderabad still shut
• Covid-19: Harried etailers look to deliver the goods

Uber told investors this month that it expected to close out the year with between $4 billion and $6 billion in cash. That’s a lot of money, but it’s never a good sign when a company is assuring investors it won’t run completely dry.

• WeWork’s new crisis: ‘Workplaces will never be the same after this’
• SoftBank’s big bet on sharing economy backfires with Coronavirus

SoftBank has been battling on several fronts this year, including facing pressure from Elliott Management Corp., which called for a special committee to review processes at the Vision Fund, the world’s largest single investment pool for tech startups.

• Covid-19: Orders on Zomato, Swiggy go down by 60%
• SoftBank’s Son still betting on himself after go-private talks

Bird recently raised hundreds of millions of dollars from investors, but is slashing costs to ensure it has enough money to keep it running through next year, according to VanderZanden.

• Firms may delay hiring for a quarter
• Shared living companies offer quarantine space

Uber has lost about 20% of its market value since the end of trading on on Feb. 26, and Airbnb’s board considered revising its plan to go public at a recent meeting. But executives from both companies have focused on drivers and hosts when working the phones to secure some government relief.

• Covid-19: Task force map technologies to fund nearly market-ready solutions
• Covid-19: Zomato sets up funds for income-starved daily wage workers in India

The hyperlocal milk delivery segment was expected to see further consolidation over the next 9-12 months, driven by poor economics, complex supply chain and longer gestation period to profitability.

• Chennai bans delivery of cooked food
• Covid-19: Ola waives car lease rentals

The letter written by Ankit Agarwal, head of Oyo's procurement and supply chain states that the hospitality industry is critically dependant on people movement and interaction and the above actions have impacted the industry significantly.

• Oyo in talks with Delhi govt to offer quarantine rooms
• How KARMIbot, others are making isolation wards robot ready

With this downward revision SBI’s external benchmark linked lending rate (EBR) stands at 7.05 percent while its repo linked lending rate (RLLR) now stands revised to 6.65 percent. EMIs on eligible home loan accounts (linked to EBR/RLLR) will get cheaper by over Rs 52 per one lakh on a 30 year loan, the bank said in a press release.

• 3-month moratorium on loans: What it means for you
• What RBI's rate cut means for EMIs, FD income

As per the announcement, due to pandemic situation, the government will amend Employees Provident Fund withdrawal rules and also, will pay both employer and employee contrition to the EPF account for the continuity of the account for the next three months.

• Rs 50 lakh cover for healthcare staff
• Collateral damage of stocks crashing due to Covid

Indian Bank MD and CEO Padmaja Chunduru said, “With salaried class and the pensioners, it is more a line to meet their immediate requirements (medical) and other expenditure.”

• Health cover sans travel exclusions for COVID-19
• Covid-19: These banks have changed branch timings

Easing things slightly for a billion plus Indian under lockdown, the finance minister, Nirmala Sitharaman announced a few tax compliance related relief measures. In a media presser on March 24, the FM announced the extension of four income-tax related deadlines as well waived two banking-related charges. Shambhavi Mehrotra of ET Online takes us through the major announcements, highlights in the realm of personal finance and how these will impact the common man.

• Banks plan to shut down most branches during lockdown
• FY19-20 tax saving deadline extended till June 30

Banks have revised branch timings and are requesting customers to use mobile/net banking.

• 4 tax-related deadlines extended to June 30
• PAN-Aadhaar linking deadline extended to June 30

​The government has also the extended deadline for PAN-Aadhaar linking from March 31, 2020, to June 30, 2020.

• Vivad se Vishwas scheme: Mar 31 deadline extended
• Extra time for insurance renewal due to COVID-19

The spread of Covid-19 has mauled the market. Finding yourself in the grips of a bear market will upend any haughty notions you may have about your risk appetite. This story tells you how to contain the damage caused to your investment portfolio.

• Focus on quality to keep your portfolio safe