Today Sector News – 12.02.2018
* BANKING: Most accounts undergoing insolvency proceedings have been resolved and recovery has been 100% for those accounts whose assets had value. In a sign that the Reserve Bank of India may side-step banks' opposition and push for an external benchmark for loan pricing, the central bank has shared the feedback received by stakeholders on the issue, along with its responses. Public sector banks are planning to sell their stake held in various subsidiary companies in order to monetise their non-core assets.
* COMMODITIES: The government is considering to remove export duty on sugar to boost shipments in view of a fall in domestic prices on estimated rise in production, Food and Consumer Affairs Minister Ram Vilas Paswan said.
* ECONOMY: The government's revenue position for 2018-19 (Apr-Mar) is reasonably comfortable and fiscal slippages are not expected, Finance Minister Arun Jaitley said.
* INFORMATION TECHNOLOGY: The information technology ministry has formed four working
committees under the leadership of experts from various fields to work on the various usage of artificial intelligence in delivering government services, IT Minister Ravi Shankar Prasad said.
* REGULATORY: The Securities and Exchange Board of India will come out with norms, by September, on mandating large corporates to borrow a minimum 25% of their total finance needs from bond markets, Chairman Ajay Tyagi said.
-The SEBI has so far refunded 915.2 mln rupees to investors, who had invested in Sahara Group
companies.
-Trading of Indian equity derivatives on the Singapore Stock Exchange will continue till August.
* SOLAR: Gujarat is inviting tenders to set up 500 MW of solar projects in the state under the reverse-auction mechanism, under which bidders who quote the lowest tariffs for selling power get to develop projects.
* STEEL: ArcelorMittal and Numetal Mauritius, in which the Ruias are shareholders, are expected to be the two prime contenders for Essar Steel with the deadline for bids scheduled to end today.
* TAXATION: The Bombay High Court said the goods and services tax regime wasn't easy to use,
questioning the celebratory midnight session of Parliament that was held to mark its launch.
* TELECOMMUNICATION: Cellular Operators Association of India plans to lobby the government to treat levies such as spectrum usage charges and licence fee paid to the department of telecommunications as tax so that operators can claim input credit.
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* COMMODITIES: The government is considering to remove export duty on sugar to boost shipments in view of a fall in domestic prices on estimated rise in production, Food and Consumer Affairs Minister Ram Vilas Paswan said.
* ECONOMY: The government's revenue position for 2018-19 (Apr-Mar) is reasonably comfortable and fiscal slippages are not expected, Finance Minister Arun Jaitley said.
* INFORMATION TECHNOLOGY: The information technology ministry has formed four working
committees under the leadership of experts from various fields to work on the various usage of artificial intelligence in delivering government services, IT Minister Ravi Shankar Prasad said.
* REGULATORY: The Securities and Exchange Board of India will come out with norms, by September, on mandating large corporates to borrow a minimum 25% of their total finance needs from bond markets, Chairman Ajay Tyagi said.
-The SEBI has so far refunded 915.2 mln rupees to investors, who had invested in Sahara Group
companies.
-Trading of Indian equity derivatives on the Singapore Stock Exchange will continue till August.
* SOLAR: Gujarat is inviting tenders to set up 500 MW of solar projects in the state under the reverse-auction mechanism, under which bidders who quote the lowest tariffs for selling power get to develop projects.
* STEEL: ArcelorMittal and Numetal Mauritius, in which the Ruias are shareholders, are expected to be the two prime contenders for Essar Steel with the deadline for bids scheduled to end today.
* TAXATION: The Bombay High Court said the goods and services tax regime wasn't easy to use,
questioning the celebratory midnight session of Parliament that was held to mark its launch.
* TELECOMMUNICATION: Cellular Operators Association of India plans to lobby the government to treat levies such as spectrum usage charges and licence fee paid to the department of telecommunications as tax so that operators can claim input credit.
