Today's Sector News – 08.05.2019
* BANKING: The Reserve Bank of India continues to engage with stakeholders on ensuring a shift to external benchmarking for loans, but wants such a benchmark to reflect the cost of funds of banks.
* FUNDS: The industry body for mutual funds in India has recommended a graded level of marking down the value of below-investment-grade securities owned by an asset management company through any of its funds.
* STEEL: Essar Steel's former promoter Prashant Ruia moved the National Company Law Appellate Tribunal seeking cancellation of ArcelorMittal India's resolution plan for the Indian steelmaker.
* TELECOMMUNICATION: Tata Sons may be staring at a tax demand of over 15 bln rupees related to its settlement with NTT Docomo following an investigation by the goods and services tax authorities.
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* FUNDS: The industry body for mutual funds in India has recommended a graded level of marking down the value of below-investment-grade securities owned by an asset management company through any of its funds.
* STEEL: Essar Steel's former promoter Prashant Ruia moved the National Company Law Appellate Tribunal seeking cancellation of ArcelorMittal India's resolution plan for the Indian steelmaker.
* TELECOMMUNICATION: Tata Sons may be staring at a tax demand of over 15 bln rupees related to its settlement with NTT Docomo following an investigation by the goods and services tax authorities.
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