Today's Sector News – 04.07.2019
* AVIATION: Domestic Indian airlines employed a total of 404 foreign pilots as of Jun 10, according to a reply by the civil aviation minister in Rajya Sabha.
* BANKING: In the wake of the ongoing crisis in the non-banking financial services space, triggered in late August by debt repayment defaults by Infrastructure Leasing & Financial Services group companies, the Reserve Bank of India constituted a working group to review the regulatory and supervisory framework for core investment companies. The Enforcement Directorate, while probing the companies owned by former ICICI BANK chief Chanda Kochhar's husband, Deepak Kochhar, and the Videocon group, has found these firms had appointed at least half a dozen "dummy" directors who had nothing to do with the core operations and decisions.
* COMMODITY: The Union Cabinet has approved an increase in the minimum support price of most kharif crops, Farm Minister Narendra Singh Tomar said.
* FINANCE: The Securities Appellate Tribunal has directed the Securities and Exchange Board of India to decide on IL&FS Securities' plea to annul 3.8-bln-rupee derivatives contracts involving Allied Financial Services.
* STEEL: The National Company Law Appellate Tribunal today will pronounce its verdict on the Essar Steel insolvency case.
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* BANKING: In the wake of the ongoing crisis in the non-banking financial services space, triggered in late August by debt repayment defaults by Infrastructure Leasing & Financial Services group companies, the Reserve Bank of India constituted a working group to review the regulatory and supervisory framework for core investment companies. The Enforcement Directorate, while probing the companies owned by former ICICI BANK chief Chanda Kochhar's husband, Deepak Kochhar, and the Videocon group, has found these firms had appointed at least half a dozen "dummy" directors who had nothing to do with the core operations and decisions.
* COMMODITY: The Union Cabinet has approved an increase in the minimum support price of most kharif crops, Farm Minister Narendra Singh Tomar said.
* FINANCE: The Securities Appellate Tribunal has directed the Securities and Exchange Board of India to decide on IL&FS Securities' plea to annul 3.8-bln-rupee derivatives contracts involving Allied Financial Services.
* STEEL: The National Company Law Appellate Tribunal today will pronounce its verdict on the Essar Steel insolvency case.
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