Today's Sector News - 17.10.2019: 09.00 Am

Today's Sector News - 17.10.2019: 09.00 Am
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* AUTOMOBILES: Mercedes-Benz India launched the G 350d wagon, its luxury off-road vehicle, with 2,925 cc, 6-cylinder diesel engine priced at 15 mln rupees, ex-showroom across India.

* BANKING: The Reserve Bank of India has imposed a penalty of 30 rupees on SBM Bank (India) for noncompliance with certain directions regarding time-bound implementation and strengthening of SWIFT system and cyber security framework.

* COMMODITY: Indonesia will scrap import duty on textile raw materials from India to bring them at par with duty charged on Chinese products, Indonesia's Trade Minister Enggartiasto Lukita said.

* TELECOMMUNICATION: Barely two days after Telecom Minister Ravi Shankar Prasad said the
government was looking at reforming spectrum pricing policy, Telecom Secretary Anshu Prakash said the government was looking at reforming only the spectrum auction process.
The Telecom Regulatory Authority of India has floated a consultation paper on the reserve pricing for auction of frequency modulation radio channels in 283 cities, including 260 that are new to these channels.

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