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New Delhi, Mar 29 : Notwithstanding the 21-day coronavirus lockdown, the Reserve Bank of India (RBI) has decided to go ahead with the merger plan of ten state-run banks into four larger bank from April 1. The apex bank has issued four separate releases announcing that the branches of merging banks will operate as of the banks in which these have been amalgamated from next month.

RBI's statement comes after Finance Minister Nirmala Sitharaman's clarification on Thursday that the mega bank consolidation plan was very much on track and would take effect from April 1.

The government on March 4 had notified the amalgamation schemes for 10 state owned banks into four as part of its consolidation plan to create bigger size stronger banks in the public sector.

Bank officers' unions, however, earlier this week wrote to the prime minister seeking to defer the merger schemes of lenders due to the lockdown triggered by coronavirus outbreak.

As per the scheme, Oriental Bank of Commerce and United Bank of India will be merged into Punjab National Bank; Syndicate Bank into Canara Bank; Allahabad Bank into Indian Bank; and Andhra and Corporation banks into Union Bank of India.

Under this, the branches of Oriental Bank of Commerce and United Bank of India will operate as branches of Punjab National Bank from April 1, 2020, and branches of Syndicate Bank as that of Canara Bank, the RBI said in a separate releases.

Allahabad Bank branches will operate as those of Indian Bank while the branches of Andhra Bank and Corporation Bank will function as the branches of Union Bank of India from the beginning of next fiscal year 2020-21, the RBI said.

"The Amalgamation of Oriental Bank of Commerce and United Bank of India into Punjab National Bank Scheme, 2020 dated March 4, 2020, issued by the Government of India... The scheme comes into force on the 1st day of April 2020," RBI said.

Customers, including depositors of merging banks will be treated as customers of the banks in which these banks have been merged with effect from April 1, 2020, the RBI noted.

Banking services across the country are impacted due to the effect of COVID-19 as a near shut down is being observed across the country.

In a letter written to the Prime Minister on March 25, the All India Bank Officers'' Confederation (AIBOC) said, "The finance minister yesterday announced a slew of measures in view of the deleterious effect of the contagion. We are also expecting an extension of closing related activities and the revision of the closing date itself from March 31 to June 30, which is the need of the hour."

New Delhi, Mar 20: The coronavirus pandemic will leave behind a global recession with small businesses, self-employed and daily wagers taking the worst hit, Mahindra Group Chairman Anand Mahindra said on thursday.

"The virus will eventually be conquered, but it will have left behind a global recession. The costs of that are incalculably high at this time. The most fearsome toll will be on small businesses, the self-employed & those whose lives depend on meagre daily wages," Mahindra said in a tweet.

Apart from the toll on lives, the legacy of Covid-19 may well be deaths due to stress, loss of livelihoods, a rise in homelessness and in extreme situations, civil unrest, he added.

"The only global experience that has lessons for us in the current situation is the last world war. In the aftermath of WW2, the US came up with the Marshall plan to revive Europe, effectively a giant fiscal pump-priming," Mahindra said.

In the US, the government dramatically dismantled regulations and opened up the economy to trade and these actions led to a boom-cycle that stretched to 1975, he added.

"This time, there will be no victors, only the vanquished. So every country will have to create its own post ‘virus war” marshall plan & take care of those in society who are hit the hardest. Perhaps we too can build the foundations of a sustained global growth cycle," Mahindra said.

New Delhi, Jul 18: With 34,884 people testing positive for coronavirus in the last 24 hours, India's Covid-19 caseload surged to 10,38,716 while 6,53,750 patients have recovered from the disease so far, according to data by the Union Health Ministry.

The death toll due to Covid-19 rose to 26,273 with 671 fatalities reported in a day, the data updated at 8 am on Saturday showed.

At present, there are 3,58,692 active cases in the country, while 6,53,750 people have recovered so far and one has migrated.

"Around 62.94 per cent of patients have recovered so far," an official said.

The total number of confirmed cases includes foreigners.

This is the third consecutive day when the number of Covid-19 cases increased by more than 30,000.

According to the Indian Council of Medical Research (ICMR), a cumulative total of 1,34,33,742 samples have been tested for COVID-19 up to July 17 with 3,61,024 samples being tested on Friday.

Of the 671 deaths reported in the last 24 hours, 258 are from Maharashtra, 115 from Karnataka, 79 from Tamil Nadu, 42 from Andhra Pradesh, 38 from Uttar Pradesh, 26 each from West Bengal and Delhi, 17 from Gujarat, nine each from Jammu and Kashmir and Punjab, and eight each from Madhya Pradesh and Rajasthan.

Telangana has reported seven fatalities followed by Haryana with five deaths, Jharkhand, Bihar and Odisha reported four each, Assam and Puducherry have registered three each, Chhattisgarh and Goa reported two each while Kerala and Uttarakhand have registered a fatality each.

Of the total 26,273 deaths reported so far, Maharashtra accounted for the highest 11,452 fatalities followed by Delhi with 3,571 deaths, Tamil Nadu 2,315, Gujarat 2,106, Karnataka 1,147, Uttar Pradesh 1,084, West Bengal 1,049, Madhya Pradesh 697 and Rajasthan 546.

So far 534 people have died of COVID-19 in Andhra Pradesh, 403 in Telangana, 327 in Haryana, 239 in Punjab, 231 in Jammu and Kashmir, 201 in Bihar, 83 in Odisha, 51 in Uttarakhand and Assam each, 46 in Jharkhand and 38 in Kerala.

Puducherry has registered 25 deaths, Chhattisgarh 23, Goa 21, Himachal Pradesh and Chandigarh 11 each, Arunachal Pradesh and Tripura three each, Meghalaya and Dadra and Nagar Haveli and Daman and Diu two each while Ladakh has reported one fatality.

The Health Ministry stressed that more than 70 per cent of the deaths occurred due to comorbidities.

Maharashtra has reported the highest number of cases at 2,92,589 followed by Tamil Nadu at 1,60,907, Delhi at 1,20,107, Karnataka at 55,115, Gujarat at 46,430, Uttar Pradesh at 45,163 and Telangana at 42,496.

The number of Covid-19 cases has gone up to 40,646 in Andhra Pradesh, 38,011 in West Bengal, 27,789 in Rajasthan, 24,797 in Haryana, 23,589 in Bihar and 21,081 in Madhya Pradesh.

Assam has instances of 20,646 infections, Odisha 16,110 and Jammu and Kashmir 12,757 cases. Kerala has reported 11,066 novel coronavirus infections so far, while Punjab has 9,442 cases.

A total of 4,964 have been infected by the virus in Chhattisgarh, 4,921 in Jharkhand, 4,102 in Uttarakhand, 3,304 in Goa, 2,366 in Tripura, 1,832 in Puducherry, 1,800 in Manipur, 1,417 in Himachal Pradesh and 1,151 in Ladakh.

Nagaland has recorded 956 Covid-19 cases, Chandigarh 660, Arunachal Pradesh 609 and Dadra and Nagar Haveli and Daman and Diu together have reported 585 cases.

Meghalaya has reported 403 cases, Mizoram 282, Sikkim has registered 266 infections so far, while Andaman and Nicobar Islands has recorded 194 cases.

"Our figures are being reconciled with the ICMR," the ministry said, adding that 163 cases are being reassigned to states.

State-wise distribution is subject to further verification and reconciliation, it added.