Today Sector News – 16.02.2018
* AUTOMOBILES: The government has decided against formulating an electric vehicle policy in an apparent U-turn from its position so far, providing a breather to many carmakers that are unprepared for an abrupt shift to the clean-fuel technology.
* AVIATION: The government summoned top officials of Europe-based aircraft manufacturer Airbus SE and US-based engine maker Pratt & Whitney to discuss the recent issues in A320neo engine that led to suspension of delivery of the aircraft to domestic airlines.
* BANKING: Banking Codes and Standards Board of India has released a new 'Code of Bank's Commitment to Customers' to ensure protection of customers' rights. The Reserve Bank of India has warned banks of likely penal measures being initiated in cases of their branches refusing to accept small currency notes and coins.
* ECONOMY: The Reserve Bank of India may hike rates in the second half of 2018 (Jul-Dec) if Consumer Price Indexbased inflation remains elevated, according to ICRA Principal Economist Aditi Nayar. The government will change the base year to 2017-18 for the calculation of GDP and IIP numbers while for retail inflation, the year will be revised to 2018, Union minister DV Sadananda Gowda said on Thursday.
* OIL AND GAS: Essar Oil has sold its entire production of coal-seam gas from a West Bengal block to GAIL INDIA using the same formula that RELIANCE INDUSTRIES used for pricing of its CBM.
* REGULATORY: The Securities and Exchange Board of India has allowed compensation for retail investors for nonallotment of shares in an initial public offering for opportunity loss on account of glitches on the part of banks. The Securities Appellate Tribunal has granted interim relief to Price Waterhouse & Co, extending the deadline for the firm to audit its existing clients to Mar 31, 2019 from Mar 31 this year.
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* AVIATION: The government summoned top officials of Europe-based aircraft manufacturer Airbus SE and US-based engine maker Pratt & Whitney to discuss the recent issues in A320neo engine that led to suspension of delivery of the aircraft to domestic airlines.
* BANKING: Banking Codes and Standards Board of India has released a new 'Code of Bank's Commitment to Customers' to ensure protection of customers' rights. The Reserve Bank of India has warned banks of likely penal measures being initiated in cases of their branches refusing to accept small currency notes and coins.
* ECONOMY: The Reserve Bank of India may hike rates in the second half of 2018 (Jul-Dec) if Consumer Price Indexbased inflation remains elevated, according to ICRA Principal Economist Aditi Nayar. The government will change the base year to 2017-18 for the calculation of GDP and IIP numbers while for retail inflation, the year will be revised to 2018, Union minister DV Sadananda Gowda said on Thursday.
* OIL AND GAS: Essar Oil has sold its entire production of coal-seam gas from a West Bengal block to GAIL INDIA using the same formula that RELIANCE INDUSTRIES used for pricing of its CBM.
* REGULATORY: The Securities and Exchange Board of India has allowed compensation for retail investors for nonallotment of shares in an initial public offering for opportunity loss on account of glitches on the part of banks. The Securities Appellate Tribunal has granted interim relief to Price Waterhouse & Co, extending the deadline for the firm to audit its existing clients to Mar 31, 2019 from Mar 31 this year.
