 The Reserve Bank of India has made mandatory for banks to link retail and MSME loans to external interest rate benchmarks. This new norm will be effective from 1st of October. Under this norm, banks have to link all of their new loan products, be it personal, housing or auto to an external benchmark rate. Banks have been allowed to choose any benchmark market interest rate published by the Financial Benchmarks India Private Ltd (FBIL). Banks can choose RBI’s repo rate, government of India’s three-month treasury bill yield published by the FBIL, government’s six-month treasury bill yield published by the FBIL or any other market interest rate published by the FBIL. |
| Source: The Live Mint |
 The Cabinet has approved a capital infusion of Rs 4,557 crore into IDBI Bank. The capital infusion process will be done through recapitalisation bonds under which The government will infuse the capital into the bank and the bank will buy the recapitalisation bonds from the government on the same day. The capital infusion aims to help the bank in its return to profitability. The capital infusion is also expected to help IDBI to come out of Prompt Corrective Action framework of the Reserve Bank of India. |
| Source: The Hindu |
 ECL Finance Ltd, a subsidiary of Edelweiss Financial Services, and Central Bank of India have signed an agreement for priority sector lending to Micro, Small and Medium Enterprise (MSME’s) customers. The partnership aims to facilitate speedy disbursal of credit across a bouquet of products, including machinery and business loans. Through this partnership, MSMEs will be offered a blended lower rate of interest, translating into a lower cost of funds, helping them deploy capital more effectively in their business. |
| Source: The Hindu |
 Zimbabwe captain Hamilton Masakadza has announced to retire from international cricket after conclusion of Bangladesh & Afghanistan T20I Tri-series. He has represented Zimbabwe in 38 Tests, 209 ODIs and 62 T20Is since making his international debut against West Indies in 2001. In his overall international career, he scored 9,410 international runs including 10 international tons and 42 half-centuries. |
| Source: The India Today |
 Senior India batswoman Mithali Raj has announced retirement from International T-20 Cricket. In 89 T20 Internationals matches, she scored 2364 runs including 17 fifties with a career-best 97 not out. Mithali is also the first Indian cricketer to reach the landmark of 2000 T20I runs. |
| Source: The Times of India |
 The Government of India has announced a contribution of 22 million US Dollars to the Global Fund for AIDS, TB and Malaria (GFTAM) for the 6th replenishment cycle (2020-22), an increase of 10% over the amount contributed in the 5th cycle. India stands firm to its long-standing partnership with the Global Fund and its commitment to eliminate AIDS, Tuberculosis and Malaria. India’s pledge for the Global Fund strongly demonstrates its strong political leadership to achieve the universal health for all and its equally strong commitment to work across borders to join hands in fighting the epidemics of these three diseases. |
| Source: The Press Information Bureau |
 The first ASEAN-US Maritime Exercise (AUMX) between the regional bloc and Washington, starting at the Sattahip Naval Base in Thailand and ending in Singapore. This drill is Co-led by the US and Royal Thai navies, the exercises will stretch into “international waters in Southeast Asia, including the Gulf of Thailand and the South China Sea”. The drills come at a time of stepped-up US engagement in the region and tensions between Beijing and Southeast Asian nations over the South China Sea. |
| Source: The Hindu |
 Chief election commissioner Sunil Arora took charge as chairman of Association of World Election Bodies (AWEB). The CEC will serve a two-year term till 2021. AWEB is a multilateral platform for election management bodies with 115 EMBs from 109 countries as its members, and 20 international organisations as Associate Members across the world to share best electoral practices. |
| Source: The Business Standard |
 Shri Mata Vaishno Devi Shrine in Jammu and Kashmir has been adjudged as the “Best Swachh Iconic place” in the country in the ‘Swachh Iconic Places’. The Shrine has been adjudged on the basis of the overall improvement in sanitation. This list released by the Ministry of Jal Shakti, Department of Drinking Water and Sanitation. President Ram Nath Kovind will confer the award to Shri Mata Vaishno Devi Shrine Board (SMVDSB) during the ‘Swachh Mahotsav’ to be organised by Ministry of Drinking Water and Sanitation on 6 September 2019. |
| Source: The Hindustan Times |
 A joint India- New Development Bank workshop was held in New Delhi. The workshop was organized to enhance the NDB’s engagement with the India’s private and public sector. The NDB is aiming to support the Indian public and private sector for infrastructure development through innovative means such as loans in local currency, guarantees, credit enhancement and equity investments. The NDB is the first Multilateral Development Bank established by developing countries and emerging economies: Brazil, Russia, India, China and South Africa. |
| Source: The Press Information Bureau |
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