Today's Sector View – 28.12.2018
* AVIATION: The Wadia group's low-cost airline GoAir is offering all-inclusive tickets starting at 1,399 rupees for a limited travel period. Government has prepared a revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline's core businesses and robust organisational reforms, Union Minister Jayant Sinha said. The government plans to put in place an "enabling regulatory ecosystem" for aircraft financing and leasing at international financial service centres in India amid domestic airlines placing large orders for aircraft, according to Civil Aviation Minister Suresh Prabhu.
* BANKING: The Reserve Bank of India's excess capital is estimated to be between 1 trln rupees and 3 trln rupees, Bank of America Merrill Lynch said.
-Noting the low registration of securitised and hypothecated assets with Central Registry of Securitisation Asset Reconstruction and Security Interest, the Reserve Bank of India has asked all banks and financial institutions to ensure they register all relevant transactions with the registry by Mar 31.
-ESAF Small Finance Bank has been granted the status of a scheduled bank by RBI, with effect from Nov 12.
-Reserve Bank of India governor Shaktikanta Das told some executives of private lenders on Thursday that the central bank would rather prefer to keep liquidity in a 'slight deficit' mode, but was open to intervening whenever there was a crunch.
-The government would infuse 286.15 bln rupees by end-December in seven state-run banks to help them meet regulatory norms on maintaining adequate capital buffers.
* CORPORATE: Tata Sons has committed over 700 bln rupees to restructure group companies in a bid to revamp growth.
* E-COMMERCE: The Food Safety and Standards Authority of India has issued revised guidelines that directly impact online food and grocery operators such as Grofers and BigBasket as well as food delivery platforms like Swiggy and Zomato. The updated norms for foreign direct investment in e-commerce will not impact the stability and predictability of the country’s regulatory environment, a senior official said on Thursday, defending changes seen disrupting the current state of online retail.
* FINANCE: IL&FS Financial Services defaulted on interest payment towards short-term loan of 754.6 mln rupees, due Thursday.
* TELECOMMUINCATION: India's mobile phone companies must invest and innovate beyond traditional voice and data offerings, else they run the risk of being disrupted by aggressive rivals or app makers, a top executive at Reliance Jio said.
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* BANKING: The Reserve Bank of India's excess capital is estimated to be between 1 trln rupees and 3 trln rupees, Bank of America Merrill Lynch said.
-Noting the low registration of securitised and hypothecated assets with Central Registry of Securitisation Asset Reconstruction and Security Interest, the Reserve Bank of India has asked all banks and financial institutions to ensure they register all relevant transactions with the registry by Mar 31.
-ESAF Small Finance Bank has been granted the status of a scheduled bank by RBI, with effect from Nov 12.
-Reserve Bank of India governor Shaktikanta Das told some executives of private lenders on Thursday that the central bank would rather prefer to keep liquidity in a 'slight deficit' mode, but was open to intervening whenever there was a crunch.
-The government would infuse 286.15 bln rupees by end-December in seven state-run banks to help them meet regulatory norms on maintaining adequate capital buffers.
* CORPORATE: Tata Sons has committed over 700 bln rupees to restructure group companies in a bid to revamp growth.
* E-COMMERCE: The Food Safety and Standards Authority of India has issued revised guidelines that directly impact online food and grocery operators such as Grofers and BigBasket as well as food delivery platforms like Swiggy and Zomato. The updated norms for foreign direct investment in e-commerce will not impact the stability and predictability of the country’s regulatory environment, a senior official said on Thursday, defending changes seen disrupting the current state of online retail.
* FINANCE: IL&FS Financial Services defaulted on interest payment towards short-term loan of 754.6 mln rupees, due Thursday.
* TELECOMMUINCATION: India's mobile phone companies must invest and innovate beyond traditional voice and data offerings, else they run the risk of being disrupted by aggressive rivals or app makers, a top executive at Reliance Jio said.
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