As COVID-19 wreaks havoc on the world economy and India tries to mitigate the impact, it is clear that all classes of citizens the salaried, big and small businesses, women and senior citizens may have to face tough times.

The number of transactions was, however, 6% lower when compared with the previous month. In February 2020, UPI had seen 1.33 billion transactions worth Rs 2.22 trillion.

Jindal Steel and Power informed exchanges that the company has reported its highest domestic and overseas steel and related products production and sales during FY20.

The Asian Development Bank said its baseline forecast called for growth in developing Asia, a group of 45 economies that includes China and India, to slow to 2.2% in 2020 from a previous forecast of 5.2%, matching last year.

Forex traders said weak opening in domestic equities dragged the local unit amid mounting fears of a coronavirus-led economic slowdown.

The move comes after Finance Minister Nirmala Sitharaman announced that women Jan Dhan account holders would get Rs 500 for three months as part of the coronavirus relief package.

After giving up over 7% since the start of the year, the rupee fell to a record low of 76.42 to the dollar on Wednesday.

Oil markets have been in turmoil for weeks after top producer Riyadh cut prices amid a row with Moscow, and then demand all but evaporated due to lockdowns and travel restrictions to fight the spread of the coronavirus.

Stating that asset quality will deteriorate, Moody's said a sharp decline in economic activity and a rise in unemployment will lead to a deterioration of household and corporate finances, which in turn will result in increases in delinquencies.

On the first day of the new financial year, the Sensex closed at 28,265.31, witnessing a fall of 1,203.18 points. On the other hand, Nifty ended 343.95 points lower at 8,253.80.

Trump expressed alarm at the impact on the US energy industry from the twin blows of the economic shutdown caused by the coronavirus and the Russia-Saudi row.