Today's Sector News - 24.09.2019: 09.00 Am

Today's Sector News - 24.09.2019: 09.00 Am
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* BANKING: Bank unions have deferred the 48-hour strike, planned on Thursday and Friday, after the finance ministry assured that it will look into the issues raised by the unions regarding mergers of public sector banks.

* COMMODITY: The farm ministry has pegged the country's kharif food grain production in 2019-20 (Jul- Jun) at 140.57 mln tn, 1.02 mln tn lower from last year's record high level, according to the first advance estimate, as erratic rains and floods in key growing regions have hit the yields.

* ECONOMY: The option to issue overseas sovereign bond remains on the table even after months of back and forth on the Budget proposal amid criticism from various quarters.

* FUNDS: The recent downgrade of RELIANCE CAPITAL's debt securities by CARE Ratings to default rating 'D' from 'BB' has put at risk 21-bln-rupee exposure of six mutual funds.

* REALTY: In a bid to boost construction activity in the real estate in the state, Gujarat Chief Minister Vijay Rupani has announced higher floor space index and promised to give special approvals for construction of "iconic" skyscrapers in four large cities of the state.

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