Today's Sector News - 20.02.2020: 09.00 Am
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* BANKING: Banks Board Bureau has recommended G.R. Chintala for the post of chairman of National Bank for Agriculture and Rural Development.
-The Prime Minister's Office is learnt to have held a meeting on Wednesday on the proposed
amalgamation of 10 public sector banks to create four larger lenders.
* NON-BANKING FINANCE CO: Fitch Ratings on Wednesday said that Indian non-banking finance companies will continue to tap offshore markets to raise funds but the funding will likely flow to such NBFCs that are focused on retail and backed by larger corporates.
* TELECOMMUNICATION: At a time when the telecom industry is in turmoil due to the adjusted gross revenue issue, two of the sector's bigwigs--BHARTI AIRTEL Chairman Sunil Bharti Mittal and
VODAFONE IDEA Chairman Kumar Mangalam Birla--met Finance Minister Nirmala Sitharaman on Wednesday.
-The statutory dues of telecom operators, pegged at 1.64 trln rupees, are set to rise sharply with the
Department of Telecommunications now in the process of calculating dues for 2017-18 (Apr-Mar) and 2018-19, officials said.
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