In Pics: Top 5 Business News of the Week

From RBI's monetary policy review meeting to suspension of air services due to floods in Kochi, all the major events of the week that have impact on business and economy of the country are narrated through images.

Hyderabad: ETV Bharat brings you a snapshot of major business news of this week.

Jammu and Kashmir Reorganisation Bill

Votes in favour and against of Jammu and Kashmir Reorganisation Bill

On 5 August 2019, the Government of India revoked the special status granted to the state of Jammu and Kashmir under Article 370 of the Indian Constitution. Home Minister Amit Shah also introduced a Reorganisation Bill in the Indian Parliament, which divides the state into two union territories namely Jammu & Kashmir and Ladakh. This move is expected to pave the way for the social and economic progress of the region.

Sitharaman's meeting with stakeholders

Finance Minister Nirmala Sitharaman had a series of meetings with different the leaders of different sectors to take stock of the economy which has witnessed a downturn in recent quarters.

Nirmala Sitharaman's meeting with stakeholders

She met representatives of MSME sector, financial sector, automobile industry, etc and assured necessary remedial intiatives will be announced soon.

RBI Monetary Policy Meet

The Reserve Bank of India (RBI) on August 7th reduced the benchmark lending rate by 35 basis points to 5.40 per cent amid concerns over slowdown in economy. The meet also decided to make National Electronic Fund Transfer (NEFT) System operational 24x7 from December 2019.

RBI Monetary Policy Meet

The Central Bank also lowered the GDP growth estimates for the current financial year to 6.9 per cent from its June forecast of 7 per cent.

Kochi airport operations halted

Kochi airport operation halted due to flood

On August 9th the flight operations at the Kochi international airport were suspended till Sunday (August 11th) as floodwaters inundated the apron area (parking area). The devasting floods hit Kerala, Karnataka and Maharashtra. In Karnataka alone floods caused damage to the tune of Rs 6,000 crore.

Inter-state portability of ration card

Launch of Inter-state portability of ration card

In a bid to implement 'One Nation, One Ration Card' across the country by June 1, 2020, the Centre on August 9th kick-started inter-state portability of ration card between Telangana-Andhra Pradesh as well as Maharashtra-Gujarat. This move will help migrant workers to avail products offered through public distribution system in non-native states also.