Today's Sector News - 17.03.2020: 09.00 Am
* AUTOMOBILES: Motorcycle makers and their dealers are offering higher discounts on sale of Bharat Stage-IV models ahead of the Mar 31 regulatory deadline, after which sales of such vehicles cannot be made.
-Hyundai Motor India launched the Creta 2020, the latest variant of the compact sports utility
vehicle. The new vehicle has been priced at 1.0 mln to 1.72 mln rupees.
-Honda Motorcycle & Scooter India on Monday said it has sold over 550,000 units of Bharat Stage-
VI compliant vehicles till date.
-The Society of Indian Automobile Manufacturers has filed an application in the Supreme Court
seeking directions to ensure that sale or registration of BS-IV vehicles are allowed till the cut-off date of Mar 31.
* ECONOMY: Reserve Bank of India Governor Shaktikanta Das said the central bank would conduct
another six-month dollar/rupee sell-buy swap auction and long-term repo operations of up to 1 trln rupees to provide liquidity to financial markets.
-Reserve Bank of India Governor Shaktikanta Das said the timing of any decision by the Monetary
Policy Committee would be determined by the evolving economic conditions.
-The Reserve Bank of India detailed measures for banks and financial institutions to follow as part of
their existing operational and business continuity plans, to contain the spread of the coronavirus and ensure continuity of banking services for customers.
-The Confederation of Indian Industry has urged the Reserve Bank of India to cut the key policy rate
by at least 50 basis points to help ease the impact of coronavirus on the economy.
* REGULATORY: The Securities and Exchange Board of India on Monday proposed to relax the
requirement of a mandatory six-month gap between two successive qualified institutional placement issues.
-The Securities Exchange Board of India has sought clarifications from merchant bankers of the
proposed initial public offering of National Commodity and Derivatives Exchange, which last month filed draft papers to raise an estimated 5 bln rupees.
* TELECOMMUNICATION: The Department of Telecommunications tendered an unconditional apology to the Supreme Court for its conduct in the adjusted gross revenue case.
-The Department of Telecommunications has urged the Supreme Court to grant a 20-year period to
the telecom companies to pay the dues arising out of the October judgement on adjusted gross revenue.
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