Today Sector News – 11.10.2018
* BANKING: The central government has nominated Revathy Iyer and Sachin Chaturvedi as directors to the central board of the Reserve Bank of India for four years.
* COMMODITIES: National Federation of Cooperative Sugar Factories has pegged the country's sugar output in 2018-19 (Oct-Sep) at 33.5 mln tn, 3.7% higher from 32.3 mln tn produced a year ago.
* INFRASTRUCTURE: The government may offer a bailout to highway projects of the crisis-hit Infrastructure Leasing & Financial Services, the board of which was recently superseded, as it seeks to put the company on track to prevent a systemic threat.
-The new board of IL&FS has reached out to the National Highways Authority of India for settlement of claims, as payment of dues from NHAI would provide immediate relief to the infra major currently defaulting on its debt obligations, a senior government official said on Wednesday.
* POWER: The government is not in favour of starting any new hydropower projects on river Ganga, Water Resources, River Development and Ganga Rejuvenation Minister Nitin Gadkari said.
-Banks continue to drag their feet on resolution proceedings of stressed power plants and are unlikely to meet their latest deadline of Oct 15 to take final decisions.
* REALTY: The Supreme Court has Wednesday ordered the sealing of nine properties of embattled real estate company Amrapali after its three directors, who are in police custody, said the documents related to the group's 46 firms were stored there.
* TELECOMMUNICATION: After the Supreme Court barred telecom operators from using Aadhaar to validate identity of mobile subscribers, the Cellular Operators Association of India has suggested several alternative measures to the government to prevent a return to the days of paper-based identity verification.
CLICK HERE
*********************************************************************************
* COMMODITIES: National Federation of Cooperative Sugar Factories has pegged the country's sugar output in 2018-19 (Oct-Sep) at 33.5 mln tn, 3.7% higher from 32.3 mln tn produced a year ago.
* INFRASTRUCTURE: The government may offer a bailout to highway projects of the crisis-hit Infrastructure Leasing & Financial Services, the board of which was recently superseded, as it seeks to put the company on track to prevent a systemic threat.
-The new board of IL&FS has reached out to the National Highways Authority of India for settlement of claims, as payment of dues from NHAI would provide immediate relief to the infra major currently defaulting on its debt obligations, a senior government official said on Wednesday.
* POWER: The government is not in favour of starting any new hydropower projects on river Ganga, Water Resources, River Development and Ganga Rejuvenation Minister Nitin Gadkari said.
-Banks continue to drag their feet on resolution proceedings of stressed power plants and are unlikely to meet their latest deadline of Oct 15 to take final decisions.
* REALTY: The Supreme Court has Wednesday ordered the sealing of nine properties of embattled real estate company Amrapali after its three directors, who are in police custody, said the documents related to the group's 46 firms were stored there.
* TELECOMMUNICATION: After the Supreme Court barred telecom operators from using Aadhaar to validate identity of mobile subscribers, the Cellular Operators Association of India has suggested several alternative measures to the government to prevent a return to the days of paper-based identity verification.
