Top news on Dec 6: RBI keeps repo rate unchanged; Abhishek Sanghvi in cash row; farmers’ protest, LG IPO & more

From the Reserve Bank of India’s monetary policy meeting to farmer’s protests, and Jagdeep Dhankhar ordering a probe into wad of notes found at Abhishek Manu Singhvi’s seat at the Rajya Sabha — a series of events have occurred throughout the afternoon.

Livemint brings you a look.

Cash found at Abhishek Singhvi’s seat

Rajya Sabha chairman Jagdeep Dhankhar ordered a high-level probe on Friday after a cash bundle was found under Congress MP Abhishek Singhvi’s Rajya Sabha seat.

Dhankhar claimed that ₹50,000 were recovered from Abhishek Singhvi’s seat. However, Abhishek Singhvi claimed that he carries only a ₹500 note to the Parliament. He further took a dig, stating that now ‘all the seats should have a lock’, and the ‘MPs can carry the key home.’

RBI MPC keeps repo rate unchanged at 6.5%

The six-member Monetary Policy Committee (MPC) led by RBI Governor Shaktikanta Das, on Friday, decided by a 4 to 2 majority to keep the benchmark repo rate unchanged at 6.5 per cent. The central bank maintained the monetary policy stance ‘Neutral’ and decided to remain unambiguously focused on a durable alignment of inflation with the target while supporting growth. Moreover, the rate-setting panel slashed the cash reserve ratio (CRR) by 50 basis points (bps) to 4 per cent.

LG Electronics gets ready for IPO

LG Electronics’ Indian arm on Friday, December 6, filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with market regulator Securities and Exchange Board of India (SEBI). The South Korean giant is looking to sell 101.8 million shares.

‘Delhi Chalo’ farmers’ protests

On Friday, police detained a group of farmers who were part of the ‘Delhi Chalo’ march, which aimed to pressure the government for a legal guarantee on minimum support price (MSP) for crops. The farmers had set off from their protest site at the Shambhu border between Punjab and Haryana at 1 pm, with a ‘jatha’ (group) of 101 farmers marching towards Delhi.

Visuals from the Shambhu border showed police barricades where around 101 protesting farmers were stopped. There was a heavy police presence at the border.