Top five news stories to watch out for on August 5

| Updated on August 05, 2019 Published on August 05, 2019

FIDC has written to the RBI to hold a joint meeting of NBFCs and bank representatives to take forward announcements made in the Budget

The Monetary Policy Committee will meet from August 5 to 7 for the third bi-monthly Monetary Policy Statement for 2019-20. Industry expects the six-member MPC headed by RBI Governor Shaktikanta Das to take steps to improve the liquidity situation and also ensure transmission of rate (repo) cuts to borrowers by the banks.

The Sovereign Gold Bonds 2019-20 (Series III) will open for subscription on August 5 and close on August 9. The issue price has been fixed at Rs 3,499 per gram of gold, the Finance Ministry said in a statement. The settlement date is August 14, 2019.

Finance Minister Nirmala Sitharaman will meet the heads of PSU banks and major private sector banks on August 5 to review credit growth in various sectors including Micro, Small and Medium Enterprises (MSMEs). She would also discuss the credit situation in sectors such as retail, auto, NBFCs and HFCs.

Election to the Vellore Lok Sabha constituency, which was rescinded following the seizure of a large cache of money from the residence and office premises of the DMK candidate, would be held on August 5. The party has fielded D M Kathir Anand, son of local DMK leader Durai Murugan. The AIADMK has allocated the seat to the New Justice Party, one of the fringe groups in the region. A C Shanmugan, founder of the NJP, is contesting under the two leaves symbol of the AIADMK.

Benelli is to launch the Leoncino 500 on Monday. There are three variants of the scrambler-style motorcycle – the standard, Trail and Sport – India will only get the standard one, at first. The Benelli Leoncino 500 is powered by a 499.6cc, liquid-cooled, fuel-injected, twin-cylinder motor that develops 47.6hp at 8,500rpm and 45Nm of torque at 5,000rpm.

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Published on August 05, 2019
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