Today Sector News – 25.06.2018
* BANKING: The Centre is in advance stages of finalising the sale of Hospital Services Consultancy Corp (India) and Engineering Projects India.
-The Reserve Bank of India has asked all banks to tweak their systems by Jun 30 to enable the use of virtual IDs in lieu of Aadhaar, and migrate to the limited know-your-customer mechanism.
-Indian banking is poised for "very good times ahead", as the problems of the sector have been recognised and dealt with, interim Finance Minister Piyush Goyal said.
-Heads of 11-state owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday.
* ECONOMY: The board of The Asian Infrastructure Investment Bank has approved an investment of $100 mln in India's National Investment and Infrastructure Fund, Economic Affairs Secretary Subhash Chandra Garg said.
* ENERGY: As many as 29 companies participated in the pre-bid meeting held on Friday for the forthcoming 10,000 MW manufacturing-linked solar auctions, to be conducted by the Solar Energy Corp of India.
* FAST MOVING CONSUMER GOODS: The ban on import of milk and milk products from China has been extended by six months till Dec 23 or till further notice.
* OIL & GAS: United Arab Emirates' state-owned oil company, Abu Dhabi National Oil Co, will sign a memorandum of understanding with Saudi Aramco to invest in the proposed Ratnagiri Refinery and Petrochemicals Ltd on Monday, as per a government invite.
* REGULATORY: The Appointments Committee of the Cabinet has appointed Anant Barua, executive director at the Securities and Exchange Board of India, as a whole-time member at the market regulator.
* TELECOMMUNICATION: The Cellular Operators Association of India has said auction of spectrum for fifth generation services should happen only around the second half of 2019.
-The Department of Telecommunications has given up hope of recovering dues worth almost 60 bln rupees, including penalties and interest, from Aircel, which is struggling to sell assets and repay debt as part of the bankruptcy protection process.
-The mega-merger deal of IDEA CELLULAR and Vodafone India may not meet the expected Jun 30
timeline as the telecom department is looking to raise a fresh demand of around 47 bln rupees.
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-The Reserve Bank of India has asked all banks to tweak their systems by Jun 30 to enable the use of virtual IDs in lieu of Aadhaar, and migrate to the limited know-your-customer mechanism.
-Indian banking is poised for "very good times ahead", as the problems of the sector have been recognised and dealt with, interim Finance Minister Piyush Goyal said.
-Heads of 11-state owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases on Tuesday.
* ECONOMY: The board of The Asian Infrastructure Investment Bank has approved an investment of $100 mln in India's National Investment and Infrastructure Fund, Economic Affairs Secretary Subhash Chandra Garg said.
* ENERGY: As many as 29 companies participated in the pre-bid meeting held on Friday for the forthcoming 10,000 MW manufacturing-linked solar auctions, to be conducted by the Solar Energy Corp of India.
* FAST MOVING CONSUMER GOODS: The ban on import of milk and milk products from China has been extended by six months till Dec 23 or till further notice.
* OIL & GAS: United Arab Emirates' state-owned oil company, Abu Dhabi National Oil Co, will sign a memorandum of understanding with Saudi Aramco to invest in the proposed Ratnagiri Refinery and Petrochemicals Ltd on Monday, as per a government invite.
* REGULATORY: The Appointments Committee of the Cabinet has appointed Anant Barua, executive director at the Securities and Exchange Board of India, as a whole-time member at the market regulator.
* TELECOMMUNICATION: The Cellular Operators Association of India has said auction of spectrum for fifth generation services should happen only around the second half of 2019.
-The Department of Telecommunications has given up hope of recovering dues worth almost 60 bln rupees, including penalties and interest, from Aircel, which is struggling to sell assets and repay debt as part of the bankruptcy protection process.
-The mega-merger deal of IDEA CELLULAR and Vodafone India may not meet the expected Jun 30
timeline as the telecom department is looking to raise a fresh demand of around 47 bln rupees.
