Today's Sector News – 15.07.2019
* BANKING: The Reserve Bank of India is happy with the pace of transmission of policy rates by banks and money markets, and believes only corporate debt has not seen appropriate transmission due to market-specific issues, a senior banking industry source said.
* FINANCE: Tata Sons is raising $500 mln in the first tranche of its scheduled offshore borrowings, the proceeds from which will likely be used to fund multiple ongoing expansion and restructuring plans.
* OIL AND GAS: Union Minister of Road, Transport and Highways Nitin Gadkari said he would request the Petroleum Ministry and the NITI Aayog to permit setting up of ethanol pumps in the country.
* TAXATION: The government is considering some manner of relief for foreign portfolio investors from the super-rich surcharge levied in the budget that has pushed the marginal tax rate for those earning over 50 mln rupees to nearly 43%.
* TELECOMMUNICATION: The Department of Telecommunications is finally implementing the mandatory testing and certification of telecommunications equipment from Oct 1, for products such as wired telecom equipment, cordless phones, fax machines, PABX and modems.
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* FINANCE: Tata Sons is raising $500 mln in the first tranche of its scheduled offshore borrowings, the proceeds from which will likely be used to fund multiple ongoing expansion and restructuring plans.
* OIL AND GAS: Union Minister of Road, Transport and Highways Nitin Gadkari said he would request the Petroleum Ministry and the NITI Aayog to permit setting up of ethanol pumps in the country.
* TAXATION: The government is considering some manner of relief for foreign portfolio investors from the super-rich surcharge levied in the budget that has pushed the marginal tax rate for those earning over 50 mln rupees to nearly 43%.
* TELECOMMUNICATION: The Department of Telecommunications is finally implementing the mandatory testing and certification of telecommunications equipment from Oct 1, for products such as wired telecom equipment, cordless phones, fax machines, PABX and modems.
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