Today's Sector View – 06.12.2018
* AGRICULTURE: The fertiliser ministry plans to clear outstanding subsidy dues of 100 bln rupees by March.
-Over 49 companies, including Tata Group, Amazon, ITC, and Patanjali have entered into a memorandum of understanding with the Maharashtra government for the 'State of Maharashtra's Agribusiness And Rural Transformation' project.
* AVIATION: Air India is looking at ways to cut cost and boost revenue. It expects to save 30 bln rupees over the next six years by migrating to a single ticket sale and distribution platform.
* ECONOMY: Hours after the Reserve Bank of India's Monetary Policy Committee announced that it had left the repo rate unchanged at 6.50%, Economic Affairs Secretary Subhash Garg has said policy stance "probably required calibration".
-Almost six months after proposing that a bank must ensure that a company with aggregate fund-based working capital limit of 1.5 bln rupees or above must have a minimum 40% of this as a term loan, the Reserve Bank of India finally bit the bullet and made this a norm. Effective Apr 1, at least 40% of such a borrower's sanctioned fund-based working capital exposure from the bank must be through a term loan. This minimum component requirement will rise to 60% from Jul 1.
* FINANCE: The Serious Fraud Investigation Office has said Infrastructure Leasing and Financial Services extended loans of over 4 bln rupees to the employee trust, knowing fully well they would not be repaid.
* RETAIL: Walmart India is going to provide employment to 30,000 to 35,000 people by starting 15 of its stores in Maharashtra.
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-Over 49 companies, including Tata Group, Amazon, ITC, and Patanjali have entered into a memorandum of understanding with the Maharashtra government for the 'State of Maharashtra's Agribusiness And Rural Transformation' project.
* AVIATION: Air India is looking at ways to cut cost and boost revenue. It expects to save 30 bln rupees over the next six years by migrating to a single ticket sale and distribution platform.
* ECONOMY: Hours after the Reserve Bank of India's Monetary Policy Committee announced that it had left the repo rate unchanged at 6.50%, Economic Affairs Secretary Subhash Garg has said policy stance "probably required calibration".
-Almost six months after proposing that a bank must ensure that a company with aggregate fund-based working capital limit of 1.5 bln rupees or above must have a minimum 40% of this as a term loan, the Reserve Bank of India finally bit the bullet and made this a norm. Effective Apr 1, at least 40% of such a borrower's sanctioned fund-based working capital exposure from the bank must be through a term loan. This minimum component requirement will rise to 60% from Jul 1.
* FINANCE: The Serious Fraud Investigation Office has said Infrastructure Leasing and Financial Services extended loans of over 4 bln rupees to the employee trust, knowing fully well they would not be repaid.
* RETAIL: Walmart India is going to provide employment to 30,000 to 35,000 people by starting 15 of its stores in Maharashtra.
