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Last Updated : Mar 24, 2020 05:58 PM IST | Source:

Simply Save podcast | Coronavirus impact: How you can be financially prepared for a job loss or salary cut

Kayezad Adajania tells us how to be financially careful at this time and how to start building an emergency corpus.

We’re living in tough times. The coronavirus (COVID-19) pandemic has curtailed business operations across sectors globally.

As we begin to spend more days working from our homes and some governments around the world even locking down cities, the question is how long would our employers continue to pay us salaries?

Those working in the travel and tourism industry, including hotels and airlines, are in danger of losing their jobs.


Everyone’s financial portfolio must have an emergency fund to tide over a temporary financial crisis. Now, what does an emergency fund need to cover? When do you start building it? What should you do to cut down on excessive expenses?

COVID-19 Vaccine

Frequently Asked Questions

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How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

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In this edition of Simply Save, host Keerthana Tiwari talks to Moneycontrol's Personal Finance Editor Kayezad Adajania who tells us how to be financially careful at this time and how to start building an emergency corpus.

Tune in to Simply Save for more.
First Published on Mar 24, 2020 05:58 pm