Domestic News
- Government likely to unveil a package for MSME units, including an enhanced interest subsidy of 5% on export credit.
- Government says that the autonomy for the RBI, within the framework of the RBI Act, is an essential and accepted governance requirement.
- Government plans to end priority allocation of natural gas to power plants, which would be a major setback to the stressed sector that gets 37% of the total domestic supply.
- Government plans to launch a global exchange-traded fund to attract long-term investments from foreign pension funds.
- Government expects bad loan recoveries to exceed Rs 1.80 lakh cr target for the current fiscal. .
- Government invokes powers under the RBI Act allowing it to issue directions to the RBI governor on matters of public interest.
- India jumps 23 places to come in at the 77th spot in the World Bank's latest ease-of-doing-business global rankings in 2018.
- India’s net direct tax collection in the country grew by 15.7% on year-on-year basis to reach Rs 4.89 lakh cr in the current fiscal till third week of October.
- India's core sector growth slowed down to 4.3% in September, compared to 4.7% in the same month last year.
- India inks a $950 mn deal for two Russian warships.
- India's Forex reserves fell $942 mn in the week to October 19 to $393.52 bn.
- Centre, states divide Rs 32000 cr IGST in October; states to get over Rs 15000 cr.
- Cabinet gives its ex-post facto approval for the memorandum of understanding (MoU) among Brazil, Russia, India, China and South Africa regarding cooperation in the social and labour sphere.
- Finance Ministry says the sixth tranche of electoral bonds sale will take place from November 1-10.
- RBI to inject Rs 40000 cr in the banking system in November.
- RBI allays fears of a liquidity crisis in the non-banking finance company segment and assures the government it would provide adequate liquidity in the system.
- SEBI asks over a dozen suspected shell companies to extend cooperation to ensure completion of forensic audits in a time-bound manner, failing which they would face stringent trading curbs.
- SEBI cautions investors against dealing with foreign trading portals.
- SEBI draws up a framework to levy nominal regulatory fee of Rs 1 lakh per exchange on turnover arising from agricultural commodity derivatives, instead of levying charges based on turnover slab rates.
- SEBI grants an exemption to the government from making an open offer for Punjab National Bank (PNB).
- SEBI proposes to tweak listing norms for startups.
- SEBI chairman Ajay Tyagi says there is an opportunity for development of bond market in the backdrop of the NPA crisis in banking sector.
- BSE gets SEBI’s nod to launch copper contracts with a trading unit of 1MT. It also launches trading in futures contracts on Oman Crude Oil.
- IRDAI notifies new draft product guidelines for linked and non-linked life insurance policies.
- LIC seeks the Competition Commission's nod for its acquisition of majority stake in state-owned IDBI Bank.
- IL&FS submits revival plan to NCLT, proposes capital infusion, assets' sale.
- Bank of Baroda says Dena Bank, Vijaya Bank buyout to be over by Nov 30.
- IDFC Bank sells more than Rs 2,400 cr of stressed assets to Edelweiss Asset Reconstruction Company for Rs 622.6 cr, a loss of 75% on the exposure.
- International Finance Corporation to set up three funds to acquire stressed assets in India.
- SBI plans to raise up to Rs 25000 cr in FY19 to meet capital adequacy.
- SoftBank is in talks to lead a new $120-150 mn financing round in Grofers
- Indian Railways decides to discontinues its flexi-fare system (surge pricing) from trains with less than 50% occupancy and reduce the flexi-fare mark from 1.5 times to 1.4 times of fare.
- ITC Limited to enhance its dairy portfolio by entering the paneer and milkshakes segments within two months.
- Cox & Kings sells its education tour business in Europe to Midlothian Capital Partners for Rs 4380 cr.
- Tata Teleservices offers to sell half of its stake and IDFC its entire stake in mobile tower company ATC .
- Ola is finalising a $100-mn investment from existing investor Hong Kong based hedge fund, Steadview Capital.
- BPCL to invest $800 mn as equity in a liquefied natural gas (LNG) project in Mozambique where it holds a 10% stake.
- ITC Limited to enhance its dairy portfolio by entering the paneer and milkshakes segments within two months.
- Lodha group ties up with Adobe for digital solutions to boost sales.
- Niti Aayog CEO Amitabh Kant says India will need around $4.5 trillion till 2040 for development of infrastructure sector in the country.
- AGS Transact Technologies receives capital markets regulator Sebi's go-ahead to mop up Rs 1000 cr through an initial public offer.
- TIPL to majority shareholder American Tower Corporation (ATC) for Rs 2940 cr.
- Polycab India files the draft papers for its initial public offering (IPO).
- JSW Steel’s board approves the issue of equity shares of the company by way of a Rs 5000 cr rights issue.
- Promoters of Essar Steel offer to pay an aggregate of Rs 54389 cr including Rs 47507 cr upfront cash payment to clear all dues owned to lenders so that the company can be pulled out of insolvency proceedings.
- Lenders to Essar Steel approve Arcelor Mittal’s resolution plan for the debt-ridden company.
- India Cements to acquire Springway Mining for Rs 183 cr to set up a cement plant in Madhya Pradesh
Last Updated: 31st October 2018
Next Update On: 15th November 2018
Update Frequency: Once Every Fortnight
