Today's Sector News – 23.05.2019
* AUTOMOBILE: Hyundai Motor India has launched its first ever compact sport utility vehicle, Venue, in India at an introductory price of 650,000 rupees for the 1.2-ltr kappa petrol engine.
* BANKING: The Reserve Bank of India's central board has reviewed the present structure of supervision, and proposed creation of special cadre for supervisory and regulatory functions within the banking regulator.
-The RBI's central board of directors has announced a specialist supervisory and regulatory cadre
within the central bank, despite Reserve Bank of India Officers Association sending at least two letters to the RBI governor against such a move.
* FINANCE: Infrastructure Leasing & Financial Services has asked financial and operational creditors to submit claims for loans, due up to Oct 15, extended to its 70 group entities.
* OIL AND GAS: A high-level panel formed by the government for the oil and gas sector submitted its report on Tuesday wherein it suggested strategies to reduce India's dependency on imported crude oil.
* STEEL: The National Company Law Appellate Tribunal has reserved its order on a bunch of appeals in Essar Steel insolvency case. While operational creditors of the company have sought higher share in the ArcelorMittal India's bid amount of 420 bln rupees, Standard Chartered wanted parity with other banks in disbursement.
* TAXATION: The Central Board of Direct Taxes has released a draft notification that proposes to change certain provisions of the tax audit report of charitable trusts by amending the Income Tax Act.
* TELECOMMUNICATION: Ericsson on Tuesday avoided questions on whether action by the US government barring China-based rival Huawei would benefit the Swedish telecom equipment maker and other players, and instead said they were open to competition in any market.
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* BANKING: The Reserve Bank of India's central board has reviewed the present structure of supervision, and proposed creation of special cadre for supervisory and regulatory functions within the banking regulator.
-The RBI's central board of directors has announced a specialist supervisory and regulatory cadre
within the central bank, despite Reserve Bank of India Officers Association sending at least two letters to the RBI governor against such a move.
* FINANCE: Infrastructure Leasing & Financial Services has asked financial and operational creditors to submit claims for loans, due up to Oct 15, extended to its 70 group entities.
* OIL AND GAS: A high-level panel formed by the government for the oil and gas sector submitted its report on Tuesday wherein it suggested strategies to reduce India's dependency on imported crude oil.
* STEEL: The National Company Law Appellate Tribunal has reserved its order on a bunch of appeals in Essar Steel insolvency case. While operational creditors of the company have sought higher share in the ArcelorMittal India's bid amount of 420 bln rupees, Standard Chartered wanted parity with other banks in disbursement.
* TAXATION: The Central Board of Direct Taxes has released a draft notification that proposes to change certain provisions of the tax audit report of charitable trusts by amending the Income Tax Act.
* TELECOMMUNICATION: Ericsson on Tuesday avoided questions on whether action by the US government barring China-based rival Huawei would benefit the Swedish telecom equipment maker and other players, and instead said they were open to competition in any market.
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