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Top five news stories to watch out for on March 19, 2020

| Updated on March 18, 2020 Published on March 19, 2020

A peek into the most important events happening in India and around the world

Yes Bank to be removed from Nifty indices: The private sector bank Yes Bank will be excluded from the Nifty 50 and other Nifty indices from March 19. The move comes following the latest developments in the Bank and its reconstruction scheme. Shree Cement will replace Yes Bank in Nifty 50 and Bandhan Bank to fill its place in Nifty bank index.

Last day of trading: Today will be the last day of trading for six public sector banks before it is merged. The six banks – Andhra Bank, Allahabad Bank, Corporation Bank, Oriental Bank of Commerce, Syndicate Bank and United Bank of India – will be merged on April 1. The NSE in a statement said that the trading will be suspended for the six PSBs from March 20.

Yes Bank branches to re-open: All the Yes Bank branches and ATMs will open for customers from Thursday. The online services resumed on March 18 from 6 pm. The RBI had put a moratorium on Yes Bank on March 5 and had restricted withdrawals up to Rs 50,000 till April 3. The central bank had superseded the board of the private sector lender.

Nokia launch event: Nokia is set to launch its first 5G phone Nokia 8.5 5G on March 19 in an online-only event. HMD Global will also unveil the entry level Nokia 1.3 and Nokia 5.3 phones during the event. The launch event will be live streamed on Nokia’s YouTube channel. The latest 5G phone will likely to appear in the upcoming James Bond movie No Time to Die.

Philippine stock market: Philippines Stock Exchange is set to reopen on March 19 after a two-day suspension. The stock trading was suspended on March 17 after the nation remained locked down following the Coronavirus outbreak. The PSE will open at the usual time but will close earlier than usual. The bond and forex market opened on March 18.

Published on March 19, 2020
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