Mainland China reported a drop in the new coronavirus cases after closing its borders to virtually all foreigners to curb imported infections.
Ambani is the second biggest wealth loser globally, after LVMH's Bernard Arnault
The big consolidation in the country's public banking sector is part of the government's plan of making India a $5-trillion economy by 2025
Following the consolidation, there will be seven large public sector banks (PSBs), and five smaller ones.
With two-thirds of the world's population living in developing countries facing unprecedented economic damage from the COVID-19 crisis, the UN is calling for a USD 2.5 trillion rescue package for these nations
The falls came after the death toll from the pandemic surged past 34,000 as cases in hard-hit Europe and the United States showed no sign of letting up.
The nationwide lockdown that has shut businesses, suspended flights, stopped trains and brought almost entire vehicular movement to a halt, has impacted fuel demand with petrol, diesel and aviation turbine fuel (ATF) showing negative growth.
With the worldwide economic sudden stop, the IMF chief said the fund's estimate for the overall financial needs of emerging markets is $2.5 trillion.
Under the plan, in major cities there would likely be only one bank open every five kilometres
The finance ministry has asked the Reserve Bank of India (RBI) to consider implementing a series of emergency measures aimed at helping borrowers cope with the economic havoc wreaked by the Covid-19 pandemic, said a person aware of the development.