Today's Sector News – 15.03.2019
* AUTOMOBILE: Harley-Davidson India launched the Forty-Eight Special and Street Glide Special models in India.
* AVIATION: Air fares on domestic routes have increased up to 100% with JET AIRWAYS, INTERGLOBE AVIATION and now SPICEJET cancelling many flights, said executives at airlines and travel companies.
* BANKING: The Reserve Bank of India has notified a revised trade credit framework on external
commercial borrowings, following a move in January to set the limit for all entities raising external
commercial borrowings through the automatic route at $750 mln per financial year.
-The Reserve Bank of India's move to use foreign exchange swaps as a liquidity tool is aimed primarily at targeting March end liquidity issues and will not be used as an alternative to open market operations.
-The Supreme Court reserved its verdict on petitions against the Reserve Bank of India's rules on
resolution of stressed assets released on Feb 12 last year. -Reserve Bank of India Governor Shaktikanta Das will meet managing directors and chief executive officers of small finance banks today. Senior officials of BANK OF BARODA, VIJAYA BANK and DENA BANK, including their general managers, will brainstorm at a two-day conclave, which will begin on Thursday, to ensure a smooth merger.
* FINANCE: A sub-committee of the Financial Stability and Development Council discussed "interlinkages between housing finance companies and housing developers".
* INFRASTRUCTURE: The Shapoorji Pallonji group has bagged three smart city projects in Varanasi, Bengaluru and Eluru, which is in Andhra Pradesh, worth more than 25 bln rupees.
* REALTY: A second tower has been launched at premium residential project Monte South, a 20-bln-rupee joint venture between Marathon Group and Adani Realty, at Byculla, Mumbai, with residences starting at 29.9 mln rupees.
* TAX: The government is 'reasonably' confident of meeting the direct tax collection target for 2018-19 (Apr- Mar), but expects some shortfall on the indirect tax side, Subhas Chandra Garg, economic affairs and finance secretary, said.
* TELECOMMUNICATION: Bharat Sanchar Nigam plans to raise 50 bln rupees through soft loans
immediately to meet its operational expenses.
* AVIATION: Air fares on domestic routes have increased up to 100% with JET AIRWAYS, INTERGLOBE AVIATION and now SPICEJET cancelling many flights, said executives at airlines and travel companies.
* BANKING: The Reserve Bank of India has notified a revised trade credit framework on external
commercial borrowings, following a move in January to set the limit for all entities raising external
commercial borrowings through the automatic route at $750 mln per financial year.
-The Reserve Bank of India's move to use foreign exchange swaps as a liquidity tool is aimed primarily at targeting March end liquidity issues and will not be used as an alternative to open market operations.
-The Supreme Court reserved its verdict on petitions against the Reserve Bank of India's rules on
resolution of stressed assets released on Feb 12 last year. -Reserve Bank of India Governor Shaktikanta Das will meet managing directors and chief executive officers of small finance banks today. Senior officials of BANK OF BARODA, VIJAYA BANK and DENA BANK, including their general managers, will brainstorm at a two-day conclave, which will begin on Thursday, to ensure a smooth merger.
* FINANCE: A sub-committee of the Financial Stability and Development Council discussed "interlinkages between housing finance companies and housing developers".
* INFRASTRUCTURE: The Shapoorji Pallonji group has bagged three smart city projects in Varanasi, Bengaluru and Eluru, which is in Andhra Pradesh, worth more than 25 bln rupees.
* REALTY: A second tower has been launched at premium residential project Monte South, a 20-bln-rupee joint venture between Marathon Group and Adani Realty, at Byculla, Mumbai, with residences starting at 29.9 mln rupees.
* TAX: The government is 'reasonably' confident of meeting the direct tax collection target for 2018-19 (Apr- Mar), but expects some shortfall on the indirect tax side, Subhas Chandra Garg, economic affairs and finance secretary, said.
* TELECOMMUNICATION: Bharat Sanchar Nigam plans to raise 50 bln rupees through soft loans
immediately to meet its operational expenses.
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