Today's Sector View – 17.01.2019
* AVIATION: The Ministry of Civil Aviation has unveiled the National Air Cargo Policy 2019, which aims to connect every village to a national and global supply chain, and ensure that by 2025, the country is among the top five global freight markets. Maharashtra government is keen on buying the Air India building in south Mumbai.
* BANKING: The Union Cabinet has approved capital infusion of 60 bln rupees into Export-Import Bank of India through recapitalisation bonds.
* The Reserve Bank of India has set a common limit for all entities that raise external commercial borrowings through the automatic route at $750 mln per financial year replacing the current sector-wise limits in a bid to rationalise guidelines for such borrowings.
* COMMODITY: The Securities and Exchange Board of India has floated a consultation paper on the design of commodity indices and product design for futures on commodity indices and sought public comments by Feb 15.
* FUNDS: The Centre has decided to come out with another tranche of Bharat-22 Exchange Traded Fund this fiscal to raise at least 80 bln rupees.
* NON BANKING FINANCIAL COMPANIES: Former directors of debt-laden Infrastructure Leasing and Financial Services Ltd have approached the National Company Law Tribunal to seek clarity over allowing them to operate their bank accounts.
* OIL AND GAS: India will not share the limited supply of Iranian crude allowed under a US waiver from sanctions with private refiners.India has committed to purchase $5 bln worth of oil and gas from the US per annum and $18 bln worth of defence equipment that are under implementation.
* TAXATION: The government has constituted a group of ministers to examine the issues related to lottery under the goods and services tax.
* TELECOMMUNICATION: There is no proposal as of now to auction backhaul spectrum in the microwave band, Telecom Minister Manoj Sinha said.
* BANKING: The Union Cabinet has approved capital infusion of 60 bln rupees into Export-Import Bank of India through recapitalisation bonds.
* The Reserve Bank of India has set a common limit for all entities that raise external commercial borrowings through the automatic route at $750 mln per financial year replacing the current sector-wise limits in a bid to rationalise guidelines for such borrowings.
* COMMODITY: The Securities and Exchange Board of India has floated a consultation paper on the design of commodity indices and product design for futures on commodity indices and sought public comments by Feb 15.
* FUNDS: The Centre has decided to come out with another tranche of Bharat-22 Exchange Traded Fund this fiscal to raise at least 80 bln rupees.
* NON BANKING FINANCIAL COMPANIES: Former directors of debt-laden Infrastructure Leasing and Financial Services Ltd have approached the National Company Law Tribunal to seek clarity over allowing them to operate their bank accounts.
* OIL AND GAS: India will not share the limited supply of Iranian crude allowed under a US waiver from sanctions with private refiners.India has committed to purchase $5 bln worth of oil and gas from the US per annum and $18 bln worth of defence equipment that are under implementation.
* TAXATION: The government has constituted a group of ministers to examine the issues related to lottery under the goods and services tax.
* TELECOMMUNICATION: There is no proposal as of now to auction backhaul spectrum in the microwave band, Telecom Minister Manoj Sinha said.
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