Today's Sector News – 07.05.2019
* AVIATION: GoAir will offer discounts on bookings on travel from Mumbai to Ahmedabad, Chandigarh, Delhi, Goa, Jaipur, Nagpur and Ranchi and likewise return flights, starting at 1,532 rupees, for travel between Jun 15 and Jul 31.
-The government offers 14 bln rupees for Air India building in Mumbai.
* BANKING: The Reserve Bank of India has streamlined the priority sector mortgage loan norms for regional rural banks and small finance banks, with those of scheduled commercial banks.
* OIL AND GAS: The US cannot force its private oil companies to supply crude at a concessional rate to India, US Secretary of Commerce Wilbur Ross said.
* INFORMATION TECHNOLOGY: The end-user spending on technology services in India is likely to touch $15 bln in 2019, up nearly 10% from the previous year, research firm Gartner Inc said.
-The growth in the $2 bln cloud services market in India is expected to remain strong at least for the
next five years, said Santhosh Rao, research director at Gartner, Inc. US-based Cognizant may cut jobs, mostly in India.
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-The government offers 14 bln rupees for Air India building in Mumbai.
* BANKING: The Reserve Bank of India has streamlined the priority sector mortgage loan norms for regional rural banks and small finance banks, with those of scheduled commercial banks.
* OIL AND GAS: The US cannot force its private oil companies to supply crude at a concessional rate to India, US Secretary of Commerce Wilbur Ross said.
* INFORMATION TECHNOLOGY: The end-user spending on technology services in India is likely to touch $15 bln in 2019, up nearly 10% from the previous year, research firm Gartner Inc said.
-The growth in the $2 bln cloud services market in India is expected to remain strong at least for the
next five years, said Santhosh Rao, research director at Gartner, Inc. US-based Cognizant may cut jobs, mostly in India.
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