Today's Sector News - 18.11.2019: 09.00 Am
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* AVIATION: The government has refuted reports that the initiation of Air India's sale process could stretch well into 2020 and said Preliminary Information Memorandum for potential buyers was expected to be
released as per schedule.
* ECONOMY: The government has been told by the Advisory Committee on National Accounts Statistics that it would be inappropriate to use 2017-18 as the base year for the new GDP series.
-Reserve Bank of India Governor Shaktikanta Das has said delays in existing cases under the
Insolvency and Bankruptcy Code were teething issues, but expects the mechanism to be much more efficient in new cases.
* INSURANCE: Life Insurance Corp of India invested 10 bln rupees in Tata Capital Housing Finance amid signs of improving debt market sentiment.
* NON-BANKING FINANCIAL COMPANY: The government has notified a framework for insolvency and liquidation proceedings of systemically important non-banking financial service providers under the Insolvency and Bankruptcy Code.
* STEEL: The government is looking to address concerns over the Enforcement Directorate's decision to attach properties of Bhushan Power and Steel, raising questions over its resolution under the Insolvency and Bankruptcy Code, Finance Minister Nirmala Sitharaman said.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India has not received any
communication from the Department of Telecommunications or the committee of secretaries on setting a floor price for telecom tariffs, TRAI Chairman R.S. Sharma said.
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