Lockdown, Day 28: Faulty kits & D-St's oil slip

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By the time most Indians woke up today, US crude prices turned negative for the first time in history. Sellers were literally paying buyers for oil. The slip showed up in D-Street later, shaving off Rs 3.34 lakh crore of investor wealth.India neared 19,000 cases, with over 600 casualties, even as the ICMR today asked states to avoid using the new rapid tests which we got from China, suspecting them to be faulty.Here is the other top news of the day… TALLY SO FAROne case found in Rashtrapati Bhavan5 more test positive in Odisha; cases now 7928 more cases in Agra; district tally nears 300Nagpur reports 7 new cases; district tally 88Rajasthan reports 52 new cases; state tally 1628Gujarat reports 6 more deaths; state death toll rises to 77Andhra reports 35 new cases; tally climbs to 757One more tests positive in Meghalaya127 new cases in Gujarat; state tally jumps to 2,06633 test positive in Rae Bareli with Tablighi links2 more gas tragedy victims die in Bhopal; toll 7Maharashtra reports 472 new cases; state tally now 4676Haryana case count stands at 25278 more cases in Delhi, tally reaches 2081WorldIndiaTallyTollTallyToll24,94,9151,71,24918,985603LIFE & HEALTHIndia’s spending on tests crosses Rs 100 croreTiruppur units eye $2-bn opportunity from PPE businessRajasthan ceases use of rapid testing kits over invalid resultsCLAT 2020 postponed to June 21ICMR withdraws defective COVID-19 test kits from WBBUSINESS AND ECONOMYSensex tumbles 1,011 pts, Nifty below 9,000RBI increases WMA limit to Rs 2L cr for April-SeptemberRupee settles 30 paise lower at 76.83 vs dollarGovt to spend Rs 4k cr more on recast crop insurance schemeUPI transactions drop in March, RTGS shootsUBS cuts target price on NBFCs by up to 60%Air passenger traffic may witness 30% negative growth this fiscalTata Motors extends commercial vehicles’ warrantyAir traffic may face 30% degrowth this fiscal: CAREWORLD UPDATEUS records 1,433 deaths in past 24 hours, 42,000US stock futures turn negative, down 0.3%Russia’s cases surge past 52,000Singapore extends lockdown to June 1, reports 1,111 new casesNippon Steel to halt third blast furnaceNissan to shut down global HQ through mid-MayChinese mainland reports 11 new casesHong Kong to extend restrictions by 14 daysFrance has stopped all flights outside Schengen zoneAustralia loses 6% of jobsPakistan reports 16 more deaths, confirmed cases tops 9,000DEBATE THISIs it time to put a Covid tax on India’s super-rich? Join here

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