Daily Sector News Today – 24.10.2017
* AVIATION: Air India has sought business proposals for sale of scrapped aircraft engine parts, which could provide additional revenues for the disinvestment-bound national airline.
* BANKING: The government has appointed Suresh Sethi as the managing director and chief executive officer of India Post Payments Bank.
* ECONOMY: The Reserve Bank of India has set up a 10-member task force for public credit registry to address the information asymmetry between borrowers and lenders.
* FINANCE: The panel of ministers overseeing the procedure of launching exchange traded funds of public sector enterprises approved the tranche size and launch date for Bharat 22 ETF, a senior finance ministry official said.
- Inflows into closed-ended equity schemes through new fund offers jumped nearly three-fold in Apr-Sep, compared with the previous six months, largely due to a rise in the number of such schemes launched by fund houses.
* POWER: Punjab State Electricity Regulatory Commission has raised the electricity tariff by an average 9.3% for 2017-18 (Apr-Mar).
* STEEL: Global production of crude steel rose 5.6% on year to 141.4 mln tn in September, according to the World Steel Association.
- ArcelorMittal, Nippon Steel, TATA STEEL and the Ruias are among the players that have shown interest in Essar Steel, where an insolvency resolution professional had called for expression of interest.
* TELECOMMUNICATION: The government has kick-started the process of giving a boost to the minimum mandated internet speed from existing 512 KB per second to at least 2 MB per second and more.
- Vodafone has forged a partnership with Micromax, wherein customers can own a 4G smartphone for 999 rupees.
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* BANKING: The government has appointed Suresh Sethi as the managing director and chief executive officer of India Post Payments Bank.
* ECONOMY: The Reserve Bank of India has set up a 10-member task force for public credit registry to address the information asymmetry between borrowers and lenders.
* FINANCE: The panel of ministers overseeing the procedure of launching exchange traded funds of public sector enterprises approved the tranche size and launch date for Bharat 22 ETF, a senior finance ministry official said.
- Inflows into closed-ended equity schemes through new fund offers jumped nearly three-fold in Apr-Sep, compared with the previous six months, largely due to a rise in the number of such schemes launched by fund houses.
* POWER: Punjab State Electricity Regulatory Commission has raised the electricity tariff by an average 9.3% for 2017-18 (Apr-Mar).
* STEEL: Global production of crude steel rose 5.6% on year to 141.4 mln tn in September, according to the World Steel Association.
- ArcelorMittal, Nippon Steel, TATA STEEL and the Ruias are among the players that have shown interest in Essar Steel, where an insolvency resolution professional had called for expression of interest.
* TELECOMMUNICATION: The government has kick-started the process of giving a boost to the minimum mandated internet speed from existing 512 KB per second to at least 2 MB per second and more.
- Vodafone has forged a partnership with Micromax, wherein customers can own a 4G smartphone for 999 rupees.
