Today's Sector View – 22.01.2019
* AUTOMOBILE: The Supreme Court, for now, has refused to interfere in a case against Volkswagen India in the National Green Tribunal over allegations that the German automobile giant violated environment norms and evaded pollution tests by fitting 'cheat devices' into its diesel engines.
* ECONOMY: At a time when the digital payments landscape in India has been fast evolving, the Reserve Bank of India has issued a policy paper on new retail payments systems, and sought comments from the public by Feb 20.
* FINANCE: Top officials in the ministries of finance and corporate affairs will huddle with senior bankers today to discuss key issues in the aftermath of the IL&FS crisis, including liquidity challenges being faced by public sector banks in providing for their exposure to the debt-laden company.
* INSURANCE: Allianz Global Corporate and Specialty SE has announced the opening of a new branch in India, after having received a reinsurance license from the Insurance Regulatory and Development Authority of India in August.
* NON-BANKING FINANCIAL COMPANIES: IL&FS Financial Services has defaulted on short-term
deposits, including interest, worth 4.2 mln rupees.
* REAL ESTATE: Rustomjee Group has announced its partnership with home furnishing brand IKEA India for its Virar township in Maharashtra, under which it will deliver furnished apartments worth around 7 bln rupees.
* ECONOMY: At a time when the digital payments landscape in India has been fast evolving, the Reserve Bank of India has issued a policy paper on new retail payments systems, and sought comments from the public by Feb 20.
* FINANCE: Top officials in the ministries of finance and corporate affairs will huddle with senior bankers today to discuss key issues in the aftermath of the IL&FS crisis, including liquidity challenges being faced by public sector banks in providing for their exposure to the debt-laden company.
* INSURANCE: Allianz Global Corporate and Specialty SE has announced the opening of a new branch in India, after having received a reinsurance license from the Insurance Regulatory and Development Authority of India in August.
* NON-BANKING FINANCIAL COMPANIES: IL&FS Financial Services has defaulted on short-term
deposits, including interest, worth 4.2 mln rupees.
* REAL ESTATE: Rustomjee Group has announced its partnership with home furnishing brand IKEA India for its Virar township in Maharashtra, under which it will deliver furnished apartments worth around 7 bln rupees.
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