Today's Sector View – 04.01.2019
* BANKING: Reserve Bank of India's relaxation for restructuring loans to micro, small and medium
enterprises must be used prudently, said Ramesh G. Iyer, vice-chairman & managing director of MAHINDRA & MAHINDRA FINANCIAL SERVICES.
* ECONOMY: The government is likely to present the interim Budget for 2019-20 (Apr-Mar) on Feb 1, 2019, after which it will seek a Vote on Account for funds required by the Centre during the first four months of the next financial year.
* FERTILISER: Chhabilendra Roul has taken charge as secretary in the Department of Fertilisers, following the superannuation of his predecessor Bharathi S. Sihag on Monday.
* FINANCE: Ahead of drawing up their results for the third quarter, lenders through the Indian Banks Association – have written to Reserve Bank of India, seeking relaxation in bad loan classification norms on their exposure to Infrastructure Leasing & Financial Services.
* OIL AND GAS: The second auction of new oil and gas blocks under the Open Acreage Licensing Policy will be opened for bidding on Tuesday and bids are likely to be accepted till March, the Directorate General of Hydrocarbons said.
* PHARMACEUTICALS: The Department of Pharmaceuticals has put on hold its plans to formulate a new policy for the sector and plans to use the suggestions given in the draft policy to amend current rules, Secretary Jai Priye Prakash said.
* STEEL: Asserting that the "early harvest" through the Insolvency and Bankruptcy Code has been "extremely satisfactory", Finance Minister Arun Jaitley has said he expects 12 big cases such as Bhushan Power and Essar Steel to get resolved before the end of March.
enterprises must be used prudently, said Ramesh G. Iyer, vice-chairman & managing director of MAHINDRA & MAHINDRA FINANCIAL SERVICES.
* ECONOMY: The government is likely to present the interim Budget for 2019-20 (Apr-Mar) on Feb 1, 2019, after which it will seek a Vote on Account for funds required by the Centre during the first four months of the next financial year.
* FERTILISER: Chhabilendra Roul has taken charge as secretary in the Department of Fertilisers, following the superannuation of his predecessor Bharathi S. Sihag on Monday.
* FINANCE: Ahead of drawing up their results for the third quarter, lenders through the Indian Banks Association – have written to Reserve Bank of India, seeking relaxation in bad loan classification norms on their exposure to Infrastructure Leasing & Financial Services.
* OIL AND GAS: The second auction of new oil and gas blocks under the Open Acreage Licensing Policy will be opened for bidding on Tuesday and bids are likely to be accepted till March, the Directorate General of Hydrocarbons said.
* PHARMACEUTICALS: The Department of Pharmaceuticals has put on hold its plans to formulate a new policy for the sector and plans to use the suggestions given in the draft policy to amend current rules, Secretary Jai Priye Prakash said.
* STEEL: Asserting that the "early harvest" through the Insolvency and Bankruptcy Code has been "extremely satisfactory", Finance Minister Arun Jaitley has said he expects 12 big cases such as Bhushan Power and Essar Steel to get resolved before the end of March.
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