Top five news stories to watch out for on March 9, 2020

| Updated on March 09, 2020 Published on March 09, 2020

The RBI will be conducting another Long-Term Repo Operation(LTRO) also of three years tenor, on March 9. The last LTRO conducted on March 2 to provide banks with three-year funds, the RBI received 66 bids aggregating 6.9 times the notified amount of ₹25,000 crores, with the total bids that were received amounted to ₹1,71,965 crore. The LTROs are being conducted by the RBI to inject durable liquidity into the banking system and ensure the transmission of monetary policy changes. The two LTROs that were conducted in February got a thumping response from banks.

Jet Airways Insolvency proceedings: The last date for the companies to submit a resolution plan is March 9. The 270-day timeframe prescribed under the Corporate Insolvency Resolution Process (CIRP) will end mid-March.  After the plan is received the lenders will approach NCLT with the bid by March 15. Russian government-backed Far East Development Fund, in partnership with Enso Group, has submitted its expression of interest to acquire a stake in Jet Airways in February. Prudent ARC and Synergy Group are also in the fray.

Tamil Nadu Assembly Budget session to resume on March 9: The next session of the Tamil Nadu Legislative Assembly is set to commence on March 9. The session starting on March 9 is expected to debate demands for grants for various government departments under the Budget 2020-21. The previous Assembly session between February 14 and 20 saw Deputy CM O Panneerselvam presented the State Budget 2020-21.

Bengal to face Saurashtra in the finals of the Ranji Trophy, underway in Rajkot, in the final from March 9. The summit clash will be held at the SCA stadium in Khandheri, Rajkot and will be the first time the stadium would be hosting the Ranji Trophy final for the first time. Bengal entered the Ranji trophy final after beating Karnataka in the semi-finals. Saurashtra had lost last year’s title clash to Vidarbha.

From March 9, Morocco will expand the band in which the dirham fluctuates to 5% either side of a reference price compared with 2.5% previously, the country's finance ministry and central bank announced last week.The move marks the second step in a gradual currency reform process which started in January 2018 when the band was widened to 2.5% either side of the reference price from 0.3%.

Published on March 09, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!


Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.