Today Sector News – 19.02.2018
* AVIATION: The state budget proposed a cut in aviation fuel sales tax for mall aircraft to 5% from 28%. Domestic airlines carried 11.47 mln passengers in January, 19.7% higher n year, according to data released by the Directorate General of Civil viation.
- Ahmedabad-based GSEC Aviation and Monarch Networth Capital have bought ver the G.R. Gopinathpromoted Air Deccan, besides jointly acquiring majority take in Air Odisha, which is set to launch its services on regional routes.
- The Airports Authority of India will invest 150 bln rupees in FY 2018-19 o expand the existing
terminal buildings and construct new ones.
- Hindustan Aeronautics has offered the indigenous 'Advanced Light elicopter-Dhruv' (civil version)
for manufacturing to Indian private sector ompanies through Transfer of Technology.
- Air India is a good airline but its finances are bad, making it nattractive to bidders in its current
form, says Union civil aviation inister Ashok Gajapathi Raju.
- The Airports Authority of India has decided to terminate the licences for round handling services at
various aerodromes as part of implementing the ew rules for such activities, sources said.
* BANKING: National Payments Corp of India has given consent to a beta launch f WhatsApp BHIM UPI with limited user base of 1 mln--those with low per transaction limit--and the full product will only be released after the test s successful.
- The Centre and the Reserve Bank of India's recent policy initiatives to oost the micro, small and
medium enterprises sector will go a long way in xpanding the contribution of manufacturing to overall GDP in the coming ears, Anil Khaitan, president, PHD Chamber of Commerce and Industry said.
- The payments bank venture by National Securities Depository is likely to e launched by the end of
March, Managing Director and Chief Executive fficer G.V. Nageswara Rao said.
- Minister of State for Finance Shiv Pratap Shukla said the Indian Banks' ssociation met to discuss the fraud at PUNJAB NATIONAL BANK and would inform he government on the deliberations.
- Fairfax India Holdings Corp is set to acquire 51% stake in private sector atholic Syrian Bank at 140
rupees per share, the Kerala-based bank said in a tatement.
- The exposure of Indian banks in the alleged fraud involving jeweller irav Modi, his relatives and
associated companies may touch 200 bln rupees, aid bankers and government officials, almost twice
the initial estimate.
* CEMENT: A Dalmia Bharat-Bain Piramal Resurgence Fund consortium leads bids or debt-laden
cement maker Binani Cement, exceeding ULTRATECH CEMENT's offer y a few 1 bln rupees, sources said.
* ECONOMY: The Pension Fund Regulatory and Development Authority proposed to ike the maximum equity investment in pension plans under the active choice ode to 75% from the current 50% for private sector subscribers.
- After the World Trade Organisation's ministerial conference in Buenos Aires in December ended in
an impasse, the commerce ministry has sought suggestions from the finance ministry for a fruitful
resolution of a mini ministerial conference that will be held in India next month.
- India and Iran has signed a lease for the Shahid Beheshti port in chabahar for one and a half years.
* FINANCE: In what could be a big fillip for digital lending platforms that provide small-ticket loans to borrowers at the bottom of the pyramid, Micro Units Development and Refinance Agency is set to allow financial technology companies to come under its MUDRA refinance scheme.
* LIQUOR: The Karnataka government has proposed an 8% hike in additional excise duty on Indian
made liquor.
* OIL AND GAS: India plans to increase imports of crude oil from Iran by 35% to 25 mln tn in the next financial year starting April after Tehran offered "good incentives" to Indian refiners.
* REALTY: Realty developers' bodies CREDAI CREDAI-MCHI and CREDAI Maharashtra have entered into two separate agreements with the government of Maharashtra to develop over 900,000 affordable house across the state between 2018 and 2022 to support the government's objective of 'Housing For All by 2022'.
* TAXATION: The Central Board of Excise and Customs today issued a circular, stating it would not
appeal against 63 orders on customs and excise matters passed by various high courts.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India today amended the regulatory principles of tariff assessment, under which a penalty of up to 5 mln rupees will be levied if a mobile operator is found offering predatory tariff.
- Vodafone will help fashion retailer Mango roll out digital fitting rooms at Mango's retail locations,
worldwide, the telecom services provider said in a press release.
- Aircel will shortly file for bankruptcy at the National Company Law Tribunal and has dissolved its
board ahead of the move.
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- Ahmedabad-based GSEC Aviation and Monarch Networth Capital have bought ver the G.R. Gopinathpromoted Air Deccan, besides jointly acquiring majority take in Air Odisha, which is set to launch its services on regional routes.
- The Airports Authority of India will invest 150 bln rupees in FY 2018-19 o expand the existing
terminal buildings and construct new ones.
- Hindustan Aeronautics has offered the indigenous 'Advanced Light elicopter-Dhruv' (civil version)
for manufacturing to Indian private sector ompanies through Transfer of Technology.
- Air India is a good airline but its finances are bad, making it nattractive to bidders in its current
form, says Union civil aviation inister Ashok Gajapathi Raju.
- The Airports Authority of India has decided to terminate the licences for round handling services at
various aerodromes as part of implementing the ew rules for such activities, sources said.
* BANKING: National Payments Corp of India has given consent to a beta launch f WhatsApp BHIM UPI with limited user base of 1 mln--those with low per transaction limit--and the full product will only be released after the test s successful.
- The Centre and the Reserve Bank of India's recent policy initiatives to oost the micro, small and
medium enterprises sector will go a long way in xpanding the contribution of manufacturing to overall GDP in the coming ears, Anil Khaitan, president, PHD Chamber of Commerce and Industry said.
- The payments bank venture by National Securities Depository is likely to e launched by the end of
March, Managing Director and Chief Executive fficer G.V. Nageswara Rao said.
- Minister of State for Finance Shiv Pratap Shukla said the Indian Banks' ssociation met to discuss the fraud at PUNJAB NATIONAL BANK and would inform he government on the deliberations.
- Fairfax India Holdings Corp is set to acquire 51% stake in private sector atholic Syrian Bank at 140
rupees per share, the Kerala-based bank said in a tatement.
- The exposure of Indian banks in the alleged fraud involving jeweller irav Modi, his relatives and
associated companies may touch 200 bln rupees, aid bankers and government officials, almost twice
the initial estimate.
* CEMENT: A Dalmia Bharat-Bain Piramal Resurgence Fund consortium leads bids or debt-laden
cement maker Binani Cement, exceeding ULTRATECH CEMENT's offer y a few 1 bln rupees, sources said.
* ECONOMY: The Pension Fund Regulatory and Development Authority proposed to ike the maximum equity investment in pension plans under the active choice ode to 75% from the current 50% for private sector subscribers.
- After the World Trade Organisation's ministerial conference in Buenos Aires in December ended in
an impasse, the commerce ministry has sought suggestions from the finance ministry for a fruitful
resolution of a mini ministerial conference that will be held in India next month.
- India and Iran has signed a lease for the Shahid Beheshti port in chabahar for one and a half years.
* FINANCE: In what could be a big fillip for digital lending platforms that provide small-ticket loans to borrowers at the bottom of the pyramid, Micro Units Development and Refinance Agency is set to allow financial technology companies to come under its MUDRA refinance scheme.
* LIQUOR: The Karnataka government has proposed an 8% hike in additional excise duty on Indian
made liquor.
* OIL AND GAS: India plans to increase imports of crude oil from Iran by 35% to 25 mln tn in the next financial year starting April after Tehran offered "good incentives" to Indian refiners.
* REALTY: Realty developers' bodies CREDAI CREDAI-MCHI and CREDAI Maharashtra have entered into two separate agreements with the government of Maharashtra to develop over 900,000 affordable house across the state between 2018 and 2022 to support the government's objective of 'Housing For All by 2022'.
* TAXATION: The Central Board of Excise and Customs today issued a circular, stating it would not
appeal against 63 orders on customs and excise matters passed by various high courts.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India today amended the regulatory principles of tariff assessment, under which a penalty of up to 5 mln rupees will be levied if a mobile operator is found offering predatory tariff.
- Vodafone will help fashion retailer Mango roll out digital fitting rooms at Mango's retail locations,
worldwide, the telecom services provider said in a press release.
- Aircel will shortly file for bankruptcy at the National Company Law Tribunal and has dissolved its
board ahead of the move.
