Daily Sector News – 09.05.2017

Daily Sector News – 09.05.2017
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* AVIATION: The Cabinet is likely to take up a proposal to monetise two of Air India's
properties in Delhi within two weeks, a senior government official said. The Airport
Economic Regulatory Authority is going to revise tariffs at17 major airports and chances
are that they would be increased.

* BANKING: The government is planning to introduce an amendment in the Negotiable
Instruments Act in the upcoming monsoon session of Parliament, a senior finance ministry
official said.
 - The Banking Regulation (Amendment) Ordinance, 2017 has empowered the Reserve
Bank of India to resolve cases of stressed assets where a Joint Lenders' Forum has failed to
reach a "logical conclusion", a finance ministry official said. Finance Minister Arun Jaitley
has said the government is open to providing more funds for banks' recapitalisation and
paring its stake once their health improves.

* INFORMATION TECHNOLOGY: Two groups of employees are petitioning the
TamilNadu government against what they call unjustified dismissals of employees at
Cognizant.

* INSURANCE: Income from premium underwritten by non-life insurance companies in
April rose 15.9% on year to 122.06 bln rupees, according to data released by the Insurance
Regulatory and Development Authority of India.

* REGULATORY: Promoters and directors of listed companies are required to disclose
details about shares received by way of gift and through off-market transactions, according
to the Securities and Exchange Board of India.

* TELECOMMUNICATION: Vodafone India has told the Delhi High Court that the
Telecom Regulatory Authority of India's consultation process to frame rules for network
testing before a full-fledged launch by a company was a "deliberate exercise" to defeat its
plea against Reliance Jio. 
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