SECTORS NEWS TODAY : 07.09.2016
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* AUTOMOBILES: Honda Motorcycle & Scooter's Gujarat plant reached peak production within two months of commissioning of a second assembly line.
* AVIATION: Vistara and AirAsia have slashed fares for bookings this month. Others are expected to
follow.
* BANKING: The government has further tightened conditions for the appointment of merchant bankers and brokers for sale of its stake in blue chip companies held through the Specified Undertaking of Unit Trust of India.
* FINANCE: The government-backed Unified Payments Interface, a system that allows money to be
transferred between bank accounts through smart phones, could rope in as many as 10-15 ecommerce
merchants in a big upgrade to enable people to seamlessly pay for online shopping.
The Securities and Exchange Board of India is planning a crackdown on unauthorised crowd-funding
platforms, which are gaining popularity in the country as alternative capital-raising facilitators.
* INSURANCE: The Employees' State Insurance Corp has raised the monthly wage threshold to 21,000 rupees from the current 15,000 rupees for coverage under its health insurance scheme.
* BONDS: The Securities and Exchange Board of India on Tuesday fully sold 70.46 bln rupees worth of unutilised investment limit in government bonds for open category foreign institutional investors. The Reserve Bank of India will purchase up to 100 bln rupees worth of five government bonds through open market operations on Thursday.
* ECONOMY: Reserve Bank of India has appointed Deputy Governor R. Gandhi in charge of the monetary policy department, replacing Urjit Patel, who took over the reins from Raghuram Rajan as RBI chief.
The government has begun the groundwork for creation of a secretariat to cater to the Goods and
Services Tax Council, which will be constituted after Presidential assent for the Constitution Amendment Bill enabling implementation of the proposed tax.
States are on board to switch from 'Plan/non-Plan' budgeting to 'revenue/capital' spending from April
2017, and most will align their budgets accordingly, Finance Secretary Ashok Lavasa said.
* POWER: The Union government has started discussions with states to close down old and outdated
thermal power plants with 6,000-MW capacity to reduce carbon emissions.
* STEEL: Steel production in India in August rose 12% on year to 8.24 mln tn, the biggest gain since at least August 2015, according to monthly data provided by the Steel Ministry.
* TELECOMMUNICATION: India's top incumbent carriers have told the Prime Minister's Office they are not obliged to entertain Reliance Jio Infocomm's requests for interconnection points as they do not have either the network or the financial resources to terminate the latter's humongous volumes of potentially asymmetric voice traffic.
* TRADE: India and Chile have expanded their Preferential Trade Agreement, with the Latin American country offering concessions on 1,798 tariff lines.
* TRANSPORT: The panel formed to look into the proposal of merging rail with general budget will
submit its report to Finance Minister Arun Jaitley this week.
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* AUTOMOBILES: Honda Motorcycle & Scooter's Gujarat plant reached peak production within two months of commissioning of a second assembly line.
* AVIATION: Vistara and AirAsia have slashed fares for bookings this month. Others are expected to
follow.
* BANKING: The government has further tightened conditions for the appointment of merchant bankers and brokers for sale of its stake in blue chip companies held through the Specified Undertaking of Unit Trust of India.
* FINANCE: The government-backed Unified Payments Interface, a system that allows money to be
transferred between bank accounts through smart phones, could rope in as many as 10-15 ecommerce
merchants in a big upgrade to enable people to seamlessly pay for online shopping.
The Securities and Exchange Board of India is planning a crackdown on unauthorised crowd-funding
platforms, which are gaining popularity in the country as alternative capital-raising facilitators.
* INSURANCE: The Employees' State Insurance Corp has raised the monthly wage threshold to 21,000 rupees from the current 15,000 rupees for coverage under its health insurance scheme.
* BONDS: The Securities and Exchange Board of India on Tuesday fully sold 70.46 bln rupees worth of unutilised investment limit in government bonds for open category foreign institutional investors. The Reserve Bank of India will purchase up to 100 bln rupees worth of five government bonds through open market operations on Thursday.
* ECONOMY: Reserve Bank of India has appointed Deputy Governor R. Gandhi in charge of the monetary policy department, replacing Urjit Patel, who took over the reins from Raghuram Rajan as RBI chief.
The government has begun the groundwork for creation of a secretariat to cater to the Goods and
Services Tax Council, which will be constituted after Presidential assent for the Constitution Amendment Bill enabling implementation of the proposed tax.
States are on board to switch from 'Plan/non-Plan' budgeting to 'revenue/capital' spending from April
2017, and most will align their budgets accordingly, Finance Secretary Ashok Lavasa said.
* POWER: The Union government has started discussions with states to close down old and outdated
thermal power plants with 6,000-MW capacity to reduce carbon emissions.
* STEEL: Steel production in India in August rose 12% on year to 8.24 mln tn, the biggest gain since at least August 2015, according to monthly data provided by the Steel Ministry.
* TELECOMMUNICATION: India's top incumbent carriers have told the Prime Minister's Office they are not obliged to entertain Reliance Jio Infocomm's requests for interconnection points as they do not have either the network or the financial resources to terminate the latter's humongous volumes of potentially asymmetric voice traffic.
* TRADE: India and Chile have expanded their Preferential Trade Agreement, with the Latin American country offering concessions on 1,798 tariff lines.
* TRANSPORT: The panel formed to look into the proposal of merging rail with general budget will
submit its report to Finance Minister Arun Jaitley this week.
