Today's Sector View – 14.01.2019
* AUTOMOBILE: Toyota plans to launch its version of Maruti Suzuki Baleno in India next fiscal.
* BANKING: Asian Development Bank will increase its funding to India to $4.5 bln in 2019. Last
year, it had committed $3.03 bln in sovereign lending to India. The Reserve Bank of India has imposed a penalty of 30 mln rupees on Citibank NA India for not complying with the central bank's rules on 'fit and proper' criteria for directors of banks. The RBI has raised a red-flag on the spike in non-performing assets under the government's flagship scheme to support micro enterprises in the country--the Pradhan Mantri Mudra Yojana.
* CORPORATE: The government has re-promulgated an ordinance to amend the companies law to
further improve the ease of doing business as well as ensure better compliance levels.
* ECONOMY: The Commerce Ministry has finalised an industrial policy that focuses on linking the
domestic manufacturing sector to global value and supply chains, Commerce and Industry Minister
Suresh Prabhu said.
* EXCHANGE: Ashok Chawla has resigned as public interest director and chairman of National Stock Exchange with immediate effect in light of recent legal developments.
* FINANCE: Infrastructure Leasing & Financial Services has defaulted on interest payment on nonconvertible debentures due Friday.
* INFORMATION TECHNOLOGY: The US government will bring changes to the H1-B visa
programme, aiming to make it more simple and bringing certainty to recipients' stay in the host
country, including a "potential path to citizenship", President Donald Trump said in a tweet.
* INFRASTRUCTURE: Essel Infraprojects is in talks with infrastructure developers and private equity companies to sell a part of its roads portfolio. The government will construct 44 'strategically important' roads along India-China border.
* METALS: India has sought consultations with the European Union under the aegis of World Trade
Organization against a move of the 28-nation bloc to impose safeguard duties on certain steel
products.
* POWER: The government is likely to launch a fresh round of auction of power purchase contracts
while also allowing escalation and fixed charges to power companies in a bid to alleviate stress in
the sector.
* TRADE: Maharashtra will soon set up its own Export Promotion Council, said Subhash Desai, the
state's industries and mining minister.
* BANKING: Asian Development Bank will increase its funding to India to $4.5 bln in 2019. Last
year, it had committed $3.03 bln in sovereign lending to India. The Reserve Bank of India has imposed a penalty of 30 mln rupees on Citibank NA India for not complying with the central bank's rules on 'fit and proper' criteria for directors of banks. The RBI has raised a red-flag on the spike in non-performing assets under the government's flagship scheme to support micro enterprises in the country--the Pradhan Mantri Mudra Yojana.
* CORPORATE: The government has re-promulgated an ordinance to amend the companies law to
further improve the ease of doing business as well as ensure better compliance levels.
* ECONOMY: The Commerce Ministry has finalised an industrial policy that focuses on linking the
domestic manufacturing sector to global value and supply chains, Commerce and Industry Minister
Suresh Prabhu said.
* EXCHANGE: Ashok Chawla has resigned as public interest director and chairman of National Stock Exchange with immediate effect in light of recent legal developments.
* FINANCE: Infrastructure Leasing & Financial Services has defaulted on interest payment on nonconvertible debentures due Friday.
* INFORMATION TECHNOLOGY: The US government will bring changes to the H1-B visa
programme, aiming to make it more simple and bringing certainty to recipients' stay in the host
country, including a "potential path to citizenship", President Donald Trump said in a tweet.
* INFRASTRUCTURE: Essel Infraprojects is in talks with infrastructure developers and private equity companies to sell a part of its roads portfolio. The government will construct 44 'strategically important' roads along India-China border.
* METALS: India has sought consultations with the European Union under the aegis of World Trade
Organization against a move of the 28-nation bloc to impose safeguard duties on certain steel
products.
* POWER: The government is likely to launch a fresh round of auction of power purchase contracts
while also allowing escalation and fixed charges to power companies in a bid to alleviate stress in
the sector.
* TRADE: Maharashtra will soon set up its own Export Promotion Council, said Subhash Desai, the
state's industries and mining minister.
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