To ease pressure due to the coronavirus lockdown, corporate have asked banks and the government for a six-month liquidity line, so that they can pay off their suppliers and employees.
The volume in the anonymous trading platform, NDS-OM, was Rs 7,210 crore - less than half the normal volume, but not as bad as the start of the day indicated.
The idea is to keep the RBI's information technology (IT) infrastructure in top shape to run the payments and settlement system uninterrupted 24x7, and run the full gamut of RBI functions from the secured data centres, as nearly 14,000 RBI staffers, except the senior-most management, work from home.
The issues include not getting refunds on airline and hotel bookings, getting charged a service fee even if airlines have waived cancellation charges and so on. Complaints are piling up on Twitter, Facebook and other social media channels as more and more people cancel their travel plans due to the ongoing Covid-19 pandemic.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
Indian airlines have also been advised separately to give relief, an official said.
Flight occupancy and fresh bookings have dropped over ten per cent in last few days as individuals and corporates defer trips. International travel is already hit due to a series of visa restrictions.
Airlines sought a limited period concession of the standing rule of slot allocation, which mandates that firms must operate at least 80 per cent of their allocated slots.
"We have found that a couple of international airlines are not adhering to the rules. Failure to adhere to rules shall entail strict action," said Director General of Civil Aviation Arun Kumar.
Executives of Indian airlines said that the drop is primarily for flights to major metro cities like Delhi, Mumbai, Hyderabad, Bangalore, which are the prime revenue generators on the domestic front.
Travel restrictions are in place only for a limited number of countries but people are cancelling or postponing travel to prevent the spread of coronavirus.
Reduction in fuel price was supposed to bring back good luck for Indian airlines. But with the global spread of coronavirus, airlines are being forced to rejig their network, cut flights, and delay launches.
Over 50 per cent of all traffic to Jeddah consists pilgrims headed to Mecca and Medina.
Apart from the Adani group, the Tata group, the Hinduja group, Indigo and a New York-based fund, Interups, are expected to submit EoIs.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
The new flights come against the backdrop of the Indian government's move to boost air connectivity with Central Asia and tap the interest of Russian investors in India.
Minutes of the MPC meeting show Das felt economy needs more monetary stimulus as inflation outlook remains uncertain.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
The new service by American Airlines will provide connectivity to tech hubs in both the countries.
Curtailment of flights between India and China will help Air India and other airlines to boost their seat occupancy and market share.
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