Top five news stories to watch out for on December 16, 2019

| Updated on December 15, 2019

Nirmala Sitharaman, Union Finance Minister

Finance Minister Nirmala Sitharaman will on December 16 seek inputs from various stakeholders including industry bodies, farmer organisations as well economists for reviving consumption and boosting growth as the customary pre-Budget consultation exercise begins. Sitharaman is likely to present her second Budget for the Modi 2.0 government in Parliament on February 1. Sources said the main focus of the Budget this time will be on boosting economic growth, which slowed to an over six-year low of 4.5 per cent in the second quarter of 2019-20.

Starting December 16, the National Electronic Funds Transfer (NEFT) facility will be available on all days of the year, including holidays. This move was announced by the Reserve Bank of India (RBI), NEFT is a nation-wide payment system facilitating one-to-one funds transfer. Members banks have also been advised to initiate necessary action and ensure availability of all necessary infrastructural requirements at their end for providing seamless NEFT 24x7 facility to their customers.

L&T Finance Services is coming out with a public issue of secured redeemable non-convertible debentures (NCDs. The Tranche I issue, which opens on December 16, aggregates Rs 500 crore and has an option to retain over subscription of Rs 1,000 crore. The coupon rates range from 8.25 per cent to 8.65 per cent annually.

The last date to submit the resolution plan for Jet Airways is December 16. So far, South America’s Synergy Group has expressed an interest in the airline. Watch out for more developments in the matter.

The US Consulate General in Hyderabad and the Nexus Startup Hub will host a workshop for defence startups from December 16 at the T-Hub in Hyderabad. This will be a two-day long workshop. The workshop will focus on defence startups, in tandem with the larger US-India Defence ties.

Published on December 16, 2019

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