NEW DELHI, March 24 (TIWN): FM Nirmala Sitharaman has clarified that banks not imposing the minimum balance requirement fee is for a three-month period.

The novel coronavirus, or COVID-19, pandemic has spread across at least 190 countries. The outbreak is having a major impact on global economy and the stock market.

There have been at least 492 reported cases of novel coronavirus in India. The Union Health Ministry has said that 37 people have recovered so far, but 10 have died. As many as 560 districts in India are now under complete lockdown.

We are closely monitoring the situation. SEBI has come up with guidelines and stated its position on the recent volatility. We are in contact with regulators at leat thrice a day. We are monitoring the stock market.

Bank charges are also being reduced for digital trade and transactions.