Mumbai orders work-from-home through April on virus surge

[MUMBAI] Mumbai authorities asked all private offices to work from home through April as India's financial hub emerges once again as the epicentre of a new wave of coronavirus infections.

Banks, stock exchanges, medical and insurance services will be allowed some staffing concessions, according to a government notification Sunday. All non-essential services including malls, places of worship and beauty salons will shut operations from 8 pm on Monday.

Cinema operators PVR Ltd and Inox Leisure Ltd plunged as much as 6.3 per cent and 8 per cent in early trading Monday. Indian Hotels Co dropped 3.5 per cent and Lemon Tree Hotels Ltd. declined 6 per cent. The benchmark stock index dipped 0.8 per cent.

"There is an alarming rate of growth of Covid-19 cases and deaths in the country," Prime Minister Narendra Modi's federal government said in a statement earlier Sunday. Maharashtra state - which contributes about 15 per cent of India's national output - accounted for 57 per cent of new infections over the past 14 days and 47 per cent of deaths during the period.

India is heading toward 100,000 daily cases, which would be a record. The resurgence follows an unexplained lull in recent months, which allowed businesses to re-open and fostered optimism in policy makers about a recovery in growth. Asia's third-largest economy had slumped into a historic recession last year after Mr Modi announced a sudden, vast and strict lockdown.

Maharashtra will impose a complete lockdown over weekends. Anyone breaking the rules will be fined 500 rupees (S$9.42), a luxury for many in the city where the amount could buy a second-class mid-distance railway pass to cover you for a month.

Delivery staff, transport workers and other personnel must be vaccinated as early as possible under government rules, and those not yet eligible must have a test certificate to show they aren't infected. The negative RT-PCR statement will be valid for 15 days.

India recorded 93,249 new infections on Sunday, the highest daily tally since Sept. 19. Mumbai reported a record 11,163 cases for the day.

About 75 million citizens have been vaccinated so far in the country of 1.3 billion people.

BLOOMBERG