Daily Sector News Today – 05.12.2017
* BANKING: DBS Bank has offered its mobile-only banking platform 'digibank' for investment in mutual funds. Banks have evolved a common set of evaluation criteria to short list potential buyers to be admitted in the bidding for assets put on the block under the Insolvency and Bankruptcy Code.
* COAL: The Supreme Court has asked the special investigation team to submit a status report on its
investigations into the allegations of abuse of authority prima facie committed by former CBI Director Ranjit Sinha to scuttle the coal scam probe.
* CORPORATE: The extradition trial of Vijay Mallya, wanted in India on charges of 90 bln rupees fraud and money laundering, began on Monday at a UK court. The Essar Group is planning to pay its dues to lenders so that it can take part in the bidding process for its steel plant in Hazira, Gujarat.
* ECONOMY: The gauntlet has been thrown down to banks, with a Reserve Bank of India study group indicating its preference for banks shifting to an external benchmark for pricing loans to improve transmission of monetary policy actions.
* ENERGY: Patanjali Ayurved is poised to diversify into solar power equipment manufacturing.
* FERTILISER: The government still owes fertiliser manufacturers about 10 bln rupees from October last year for the pilot project of direct subsidy transfer in 16 districts, Fertiliser Association of India said.
* REGULTORY: The Securities and Exchange Board of India has announced some changes in the scheme categorisation norms, giving mutual fund houses more room and time to fit their schemes under the new categories fixed by the regulator.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India in its recommendations to the Department of Telecommunications has suggested capping the period of network testing by new entrants to 90 days. The telecom department will soon meet officials from BHARTI AIRTEL, IDEA CELLULAR and Vodafone India to hear their pleas against TRAI's recommendation of a 30.5-bln-rupee cumulative penalty for allegedly denying sufficient points of interconnection to Reliance Jio Infocomm.
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* COAL: The Supreme Court has asked the special investigation team to submit a status report on its
investigations into the allegations of abuse of authority prima facie committed by former CBI Director Ranjit Sinha to scuttle the coal scam probe.
* CORPORATE: The extradition trial of Vijay Mallya, wanted in India on charges of 90 bln rupees fraud and money laundering, began on Monday at a UK court. The Essar Group is planning to pay its dues to lenders so that it can take part in the bidding process for its steel plant in Hazira, Gujarat.
* ECONOMY: The gauntlet has been thrown down to banks, with a Reserve Bank of India study group indicating its preference for banks shifting to an external benchmark for pricing loans to improve transmission of monetary policy actions.
* ENERGY: Patanjali Ayurved is poised to diversify into solar power equipment manufacturing.
* FERTILISER: The government still owes fertiliser manufacturers about 10 bln rupees from October last year for the pilot project of direct subsidy transfer in 16 districts, Fertiliser Association of India said.
* REGULTORY: The Securities and Exchange Board of India has announced some changes in the scheme categorisation norms, giving mutual fund houses more room and time to fit their schemes under the new categories fixed by the regulator.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India in its recommendations to the Department of Telecommunications has suggested capping the period of network testing by new entrants to 90 days. The telecom department will soon meet officials from BHARTI AIRTEL, IDEA CELLULAR and Vodafone India to hear their pleas against TRAI's recommendation of a 30.5-bln-rupee cumulative penalty for allegedly denying sufficient points of interconnection to Reliance Jio Infocomm.
