Today Sector News – 07.06.2018
* AUTOMOBILE: Government may liberalise import norms by removing restrictions on price and engine capacities, as well as the mandatory local testing conditions.
* AVIATION: Qatar Airways will "soon" move an application to launch a full-service airline in India for domestic operations, said chief Akbar Al Baker. Air India, which failed to get even a single bidder for its disinvestment plan, has delayed payment of salaries to its employees for the third consecutive month. Air India has revised the excess baggage charges by 100 rupees per kg to 500 rupees for domestic travels from June.
* ECONOMY: A committee appointed by the Reserve Bank of India recommended that a public credit registry be established by the central bank. A rate hike by the Reserve Bank of India may put economic growth on the back-foot just at a time when demand was reaching the levels where companies could start planning capacity expansion.
* FERTILISERS: Maharashtra is considering imposing a ban on the use of chemical fertilisers, Ramdas Kadam, state environment minister, said.
* OIL & GAS: The government is not considering any rollback of deregulation of petrol and diesel prices, Petroleum Minister Dharmendra Pradhan said.
* POWER: The Cabinet Committee on Economic Affairs has approved implementation of the third phase of the off-grid and decentralised solar photovoltaic application programme at a cost of 18.95 bln rupees.
* REALTY: The government has empowered homebuyers to drag such builders to the insolvency court by recognising them as secured creditors under the insolvency and bankruptcy law.
* REGULATORY: The Securities and Exchange Board of India has ordered a probe into alleged leaking of a list of stocks which the exchanges had placed under Additional Surveillance Measure on May 31. The SEBI has extended the date for submission of Aadhaar details by those investing in capital markets till a final judgement by the Supreme Court on proposed mandatory linking of 12-digit unique identifier for all financial dealings.
* STEEL: Essar Steel, one of the RBI's first 'Big 12' of non-performing assets to be auctioned under the bankruptcy law, is likely to clock its best-ever performance this financial year.
* TAXATION: The income tax department has alleged in the Madras High Court that Cognizant Technology has transferred its profits to its non-resident shareholders in the guise of share buyback.
CLICK HERE
*********************************************************************************
* AVIATION: Qatar Airways will "soon" move an application to launch a full-service airline in India for domestic operations, said chief Akbar Al Baker. Air India, which failed to get even a single bidder for its disinvestment plan, has delayed payment of salaries to its employees for the third consecutive month. Air India has revised the excess baggage charges by 100 rupees per kg to 500 rupees for domestic travels from June.
* ECONOMY: A committee appointed by the Reserve Bank of India recommended that a public credit registry be established by the central bank. A rate hike by the Reserve Bank of India may put economic growth on the back-foot just at a time when demand was reaching the levels where companies could start planning capacity expansion.
* FERTILISERS: Maharashtra is considering imposing a ban on the use of chemical fertilisers, Ramdas Kadam, state environment minister, said.
* OIL & GAS: The government is not considering any rollback of deregulation of petrol and diesel prices, Petroleum Minister Dharmendra Pradhan said.
* POWER: The Cabinet Committee on Economic Affairs has approved implementation of the third phase of the off-grid and decentralised solar photovoltaic application programme at a cost of 18.95 bln rupees.
* REALTY: The government has empowered homebuyers to drag such builders to the insolvency court by recognising them as secured creditors under the insolvency and bankruptcy law.
* REGULATORY: The Securities and Exchange Board of India has ordered a probe into alleged leaking of a list of stocks which the exchanges had placed under Additional Surveillance Measure on May 31. The SEBI has extended the date for submission of Aadhaar details by those investing in capital markets till a final judgement by the Supreme Court on proposed mandatory linking of 12-digit unique identifier for all financial dealings.
* STEEL: Essar Steel, one of the RBI's first 'Big 12' of non-performing assets to be auctioned under the bankruptcy law, is likely to clock its best-ever performance this financial year.
* TAXATION: The income tax department has alleged in the Madras High Court that Cognizant Technology has transferred its profits to its non-resident shareholders in the guise of share buyback.
