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Along with its high infectivity and fatality rates, the 2019 Corona Virus Disease (COVID-19) has caused universal psychosocial impact by causing mass hysteria, economic burden, and financial losses. Mass fear of COVID-19, termed as “corona phobia”, has generated a plethora of psychiatric manifestations across the different strata of the society. So, this review has been undertaken to define the psychosocial impact of COVID-19.