The 25 basis point cut to the five-year LPR is the biggest reduction the central bank has made since it revamped its LPR system in 2019.
Hours after the authorities in Hong Kong confirmed the death of a patient suffering from the new Coronavirus, Air India said that it is suspending its flights to Hong Kong from February 8.
According to news agency Press Trust of India, Air India Chairman and Managing Director Ashwani Lohani said, “In view of the Coronavirus issue Air India is suspending its flights to Hong Kong after flying AI314 on the 7th of February 2020.”
The deadly virus, which originated in China’s Wuhan city, has gripped the nation and is spreading to other countries as well. With over 20,000 cases of the novel virus and 425 deaths in China, Hong Kong reported its first casualty due to the virus on Tuesday.
Earlier, IndiGo suspended all three flights between India and China. Air India suspended its Delhi-Shanghai flight and curtailed the flight operations on the Delhi-Hong Kong route. From February 8, it will be suspending operations on the Delhi-Hong Kong route too.