Daily Sector News Today – 20.11.2017
* AVIATION: Domestic airlines carried 10.5 mln passengers in October, 20.5% higher than a year
ago.
* BANKING: Banks asked the Securities and Exchange Board of India to reconsider the disclosure
norms on loan defaults as these were not in sync with the existing lending practices and covenants in
India, STATE BANK OF INDIA Chairman Rajnish Kumar said.
* CEMENT: Cement prices in Mumbai are back to their September levels, effectively erasing the
price hikes of October and earlier this month.
* COMMODITIES: The government has imposed anti-dumping duties on rubber chemicals PX 13
from the European Union and on MOR from China for five years.
- The government on Friday increased the import duty on all edible oils and soybean to support the
domestic oilseed industry
* FERTILISERS: The Centre will introduce direct benefit transfer of fertiliser subsidies in five more
states, including Punjab, next month.
* FUNDS: UK's development finance institution, CDC, has committed $25 mln to Aavishkaar Bharat
Fund to provide capital to small and medium enterprises catering to the poor and under-served
communities in India.
* INFORMATION TECHNOLOGY: Multinational networking giant Cisco Systems has launched a
$1-bln City Infrastructure Financing Acceleration Program to make it faster and affordable for cities
worldwide to fund and adopt "smart" technologies.
* INFRASTRUCTURE: The Delhi government will invite bids to procure 1,000 cluster buses by
Nov 30 and roll out the buses within 10 months.
* REGULATORY: The Securities and Exchange Board of India has relaxed the time limit for
rollovers on borrowed or lent stock contracts to 12 months from three months.
* TAXATION: The Income Tax Department has issued draft notification offering sops on capital
gains to nudge foreign banks to convert their Indian branches into wholly-owned subsidiaries.
- Passenger vehicle exports from India have run into GST speed breaker as manufacturers have
been unable to file claims since July and pending sum has crossed over 10 bln rupees.
- The government is looking to reduce GST on consumer durables like washing machines and
refrigerators from the current level of 28% as part of the next round of rationalisation.
* TELECOMMUNICATION: Vodafone Group Plc UK has told the Delhi High Court that there was
no consensus on the appointment of the presiding judge on the UK-based arbitration panel in a tax
dispute case with India.
CLICK HERE
*********************************************************************************
ago.
* BANKING: Banks asked the Securities and Exchange Board of India to reconsider the disclosure
norms on loan defaults as these were not in sync with the existing lending practices and covenants in
India, STATE BANK OF INDIA Chairman Rajnish Kumar said.
* CEMENT: Cement prices in Mumbai are back to their September levels, effectively erasing the
price hikes of October and earlier this month.
* COMMODITIES: The government has imposed anti-dumping duties on rubber chemicals PX 13
from the European Union and on MOR from China for five years.
- The government on Friday increased the import duty on all edible oils and soybean to support the
domestic oilseed industry
* FERTILISERS: The Centre will introduce direct benefit transfer of fertiliser subsidies in five more
states, including Punjab, next month.
* FUNDS: UK's development finance institution, CDC, has committed $25 mln to Aavishkaar Bharat
Fund to provide capital to small and medium enterprises catering to the poor and under-served
communities in India.
* INFORMATION TECHNOLOGY: Multinational networking giant Cisco Systems has launched a
$1-bln City Infrastructure Financing Acceleration Program to make it faster and affordable for cities
worldwide to fund and adopt "smart" technologies.
* INFRASTRUCTURE: The Delhi government will invite bids to procure 1,000 cluster buses by
Nov 30 and roll out the buses within 10 months.
* REGULATORY: The Securities and Exchange Board of India has relaxed the time limit for
rollovers on borrowed or lent stock contracts to 12 months from three months.
* TAXATION: The Income Tax Department has issued draft notification offering sops on capital
gains to nudge foreign banks to convert their Indian branches into wholly-owned subsidiaries.
- Passenger vehicle exports from India have run into GST speed breaker as manufacturers have
been unable to file claims since July and pending sum has crossed over 10 bln rupees.
- The government is looking to reduce GST on consumer durables like washing machines and
refrigerators from the current level of 28% as part of the next round of rationalisation.
* TELECOMMUNICATION: Vodafone Group Plc UK has told the Delhi High Court that there was
no consensus on the appointment of the presiding judge on the UK-based arbitration panel in a tax
dispute case with India.
