Today's Sector News – 01.02.2019
* AVIATION: The Supreme Court has refused to entertain a petition seeking the suspension of former Central Bureau of Investigation special director Rakesh Asthana as director general of civil aviation security. The government has given Ramesh Abhishek the additional charge of aviation secretary following the superannuation of R.N. Choubey Thursday. Abhishek is also the secretary of Department of Industrial Policy & Promotion.
* BANKING: After months of friction between the government and the Reserve Bank of India on prompt corrective action curbs on 11 state-owned banks, the central bank removed BANK OF INDIA and BANK OF MAHARASHTRA from the framework and eased curbs on ORIENTAL BANK OF COMMERCE.
* E-COMMERCE: The government has decided not to extend the Feb 1 deadline for complying with the new e-commerce norms, according to an official notification.
* ECONOMY: The RBI has launched an ombudsman scheme for settlement of complaints regarding digital transactions undertaken by customers of online payment systems. Non-food credit growth in the banking system slowed down to 12.8% on year in December from a 13.8% growth in November. Credit growth was in double digit for the ninth consecutive month. The NITI Aayog waded into another controversy on Thursday, saying the government was still "processing" the periodic labour force survey data, and that it would take another month for the findings of the National Sample Survey Office's survey to be made public.
* FINANCE: IL&FS Financial Services has defaulted on interest payment towards 106.3-mln-rupee term deposit, and 49.2-mln-rupee cash credit facilities, that were due on Jan 31. Infrastructure Leasing & Financial Services has put its Tamil Nadu power assets on the block.
* BANKING: After months of friction between the government and the Reserve Bank of India on prompt corrective action curbs on 11 state-owned banks, the central bank removed BANK OF INDIA and BANK OF MAHARASHTRA from the framework and eased curbs on ORIENTAL BANK OF COMMERCE.
* E-COMMERCE: The government has decided not to extend the Feb 1 deadline for complying with the new e-commerce norms, according to an official notification.
* ECONOMY: The RBI has launched an ombudsman scheme for settlement of complaints regarding digital transactions undertaken by customers of online payment systems. Non-food credit growth in the banking system slowed down to 12.8% on year in December from a 13.8% growth in November. Credit growth was in double digit for the ninth consecutive month. The NITI Aayog waded into another controversy on Thursday, saying the government was still "processing" the periodic labour force survey data, and that it would take another month for the findings of the National Sample Survey Office's survey to be made public.
* FINANCE: IL&FS Financial Services has defaulted on interest payment towards 106.3-mln-rupee term deposit, and 49.2-mln-rupee cash credit facilities, that were due on Jan 31. Infrastructure Leasing & Financial Services has put its Tamil Nadu power assets on the block.
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