Today's Sector News – 26.04.2019
* AVIATION: Etihad Airways offered special fares for business class passengers travelling from India to all destinations in the US, Europe and Canada, between May 1 and Dec 10, and bookings will be available till May 3.
* BANKING: Reserve Bank of India Governor Shaktikanta Das has said that recent developments in the financial technology or "FinTech" space have given an impetus to financial inclusion, but also acknowledged the challenges such innovations posed for regulators.
-The Reserve Bank of India has allowed foreign portfolio investors to invest in municipal bonds.
-The National Company Law Tribunal has directed the committee of creditors of Sterling SEZ and
Infrastructure to appear before it to explain why the lenders accepted a one-time settlement proposal despite cases against the promoters. The RBI is working on revising the framework for resolution of stressed assets, including providing additional 60 days to borrowers to repay dues, as part of efforts to mitigate hardships faced by genuine businesses.
* ECONOMY: The Indian economy's investment requirement will continue to be "quite large" to support the desired growth in physical and social infrastructure sector, the RBI Deputy Governor B.P. Kanungo said.
* INFORMATION TECHNOLOGY: Bank for International Settlements General Manager Agustin Carstens flagged risks posed by the amount of data that large technology and financial technology companies now possess, and said this raised problems about data ownership and privacy.
* OIL AND GAS: China and India are nearing an arrangement to form a buyers' bloc to bargain collectively for oil supplies and reduce the influence of the Saudi Arabia-led cartel on oil prices.
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* BANKING: Reserve Bank of India Governor Shaktikanta Das has said that recent developments in the financial technology or "FinTech" space have given an impetus to financial inclusion, but also acknowledged the challenges such innovations posed for regulators.
-The Reserve Bank of India has allowed foreign portfolio investors to invest in municipal bonds.
-The National Company Law Tribunal has directed the committee of creditors of Sterling SEZ and
Infrastructure to appear before it to explain why the lenders accepted a one-time settlement proposal despite cases against the promoters. The RBI is working on revising the framework for resolution of stressed assets, including providing additional 60 days to borrowers to repay dues, as part of efforts to mitigate hardships faced by genuine businesses.
* ECONOMY: The Indian economy's investment requirement will continue to be "quite large" to support the desired growth in physical and social infrastructure sector, the RBI Deputy Governor B.P. Kanungo said.
* INFORMATION TECHNOLOGY: Bank for International Settlements General Manager Agustin Carstens flagged risks posed by the amount of data that large technology and financial technology companies now possess, and said this raised problems about data ownership and privacy.
* OIL AND GAS: China and India are nearing an arrangement to form a buyers' bloc to bargain collectively for oil supplies and reduce the influence of the Saudi Arabia-led cartel on oil prices.
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