Today's Sector View – 01.01.2019
* AUTOMOBILE: Toyota Kirloskar Motor has reported a 10% increase in vehicle sales in December to 11,830 units, compared with 10,793 units in the same month last year.
* BANKING: Non-food credit growth in the banking system improved to 13.8% on year in November from 13.4% in October. Credit growth was in double digit for the eighth consecutive month.
* ECONOMY: The government is in talks with 10-12 public sector companies that may raise funds through a debt exchange traded fund once it is set up, a senior finance ministry official said. Finance Minister Arun Jaitley said the government will make all efforts to alleviate distress among farmers.
* FINANCE: At a time when the default issues at Infrastructure Leasing and Financial Services group has thrown a spotlight on health of the non-banking finance sector, the Reserve Bank of India's stress tests show that some of these lenders may struggle to meet capital norms if bad loans rise.
Developments in the non-banking financial sector following a series of debt defaults by industry major Infrastructure Leasing & Financial Services call for a greater degree of prudence in risk-taking, Reserve Bank of India Governor Shaktikanta Das said. Multiple problems in current provisioning of credit propelled by non-bank financial intermediaries have come to the fore in the wake of payment defaults by Infrastructure Leasing & Financial Services, the Reserve Bank of India said.
* INSURANCE: The Insurance Regulatory and Development Authority of India has started framing draft guidelines for identification of Systemically Important Insurers for the domestic insurance sector, the Reserve Bank of India said.
* REGULATORY: The Securities and Exchange Board of India said that all stock derivatives which are currently cash-settled will move to physical settlement from the expiry of the October series, in a phased manner.
* BANKING: Non-food credit growth in the banking system improved to 13.8% on year in November from 13.4% in October. Credit growth was in double digit for the eighth consecutive month.
* ECONOMY: The government is in talks with 10-12 public sector companies that may raise funds through a debt exchange traded fund once it is set up, a senior finance ministry official said. Finance Minister Arun Jaitley said the government will make all efforts to alleviate distress among farmers.
* FINANCE: At a time when the default issues at Infrastructure Leasing and Financial Services group has thrown a spotlight on health of the non-banking finance sector, the Reserve Bank of India's stress tests show that some of these lenders may struggle to meet capital norms if bad loans rise.
Developments in the non-banking financial sector following a series of debt defaults by industry major Infrastructure Leasing & Financial Services call for a greater degree of prudence in risk-taking, Reserve Bank of India Governor Shaktikanta Das said. Multiple problems in current provisioning of credit propelled by non-bank financial intermediaries have come to the fore in the wake of payment defaults by Infrastructure Leasing & Financial Services, the Reserve Bank of India said.
* INSURANCE: The Insurance Regulatory and Development Authority of India has started framing draft guidelines for identification of Systemically Important Insurers for the domestic insurance sector, the Reserve Bank of India said.
* REGULATORY: The Securities and Exchange Board of India said that all stock derivatives which are currently cash-settled will move to physical settlement from the expiry of the October series, in a phased manner.
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