Daily Sector News Today – 21.09.2017
* AVIATION: The Delhi airport has set a hard deadline of October end for INTERGLOBE AVIATION-led IndiGo, SPICEJET, and GoAir to shift some of their operations to Terminal 2 from Terminal 1 in Delhi.
* BANKING: The National Housing Bank could be looking to cap the amount of loan that can be advanced by housing financiers against property mortgaged with them, said Sriram Kalyanaraman, chairman of the bank.
* CORPORATE: Tata Sons Chairman N. Chandrasekaran is creating a drop-down structure at the company similar to the group executive office and group corporate centre that existed under former chairman Ratan Tata.
* ECONOMY: The government will take additional steps necessary to boost the economy, Finance Minister Arun Jaitley said. Commerce and Industry Minister Suresh Prabhu said the Department of Commerce was working closely with the finance ministry to address export-related issues that had arisen due to the rollout of GST. India will invest $122 mln in developing Chabahar port in Iran along with a separate investment of $85 mln on equipment required for the port.
* FMCG: Packaged food businesses can escape the 5% goods and service tax if they choose to forgo any actionable claim on their brand name, under norms on tax rates which will be notified by end of the week.
* INSURANCE: The Insurance Regulatory and Development Authority of India has invited bids from information technology service providers for revamping its internal and external platforms.
* PHARMACEUTICALS: The government is considering capping prices of more medical devices deemed essential in health care centres to improve their affordability and accessibility.
As many as 37 drug formulations, including those for treating bacterial and fungal infections, tuberculosis, malaria, anaemia, muscle pain and migraine, will become cheaper with the National Pharmaceuticals Pricing Authority reducing their prices.
* RAILWAYS: The Cabinet approved productivity-linked bonus equivalent to 78 days of basic pay to be paid to eligible non-gazetted railway employees for 2016-17 (Apr-Mar), Finance Minister Arun Jaitley said.
* REGULATORY: Securities and Exchange Board of India has revoked trading ban imposed on 114 entities, which had come under the scanner for alleged manipulation and misuse of stock market platform for tax evasion.
* STEEL: Banks are likely to reject Essar Steel's demand for 10 bln rupees of working capital loans.
* SUGAR: The government may allow more sugar imports if required in the country, Food Minister Ram Vilas Paswan said.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India wants mobile telephone operators to reduce their voice call costs to the level of over-the-top applications.
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* BANKING: The National Housing Bank could be looking to cap the amount of loan that can be advanced by housing financiers against property mortgaged with them, said Sriram Kalyanaraman, chairman of the bank.
* CORPORATE: Tata Sons Chairman N. Chandrasekaran is creating a drop-down structure at the company similar to the group executive office and group corporate centre that existed under former chairman Ratan Tata.
* ECONOMY: The government will take additional steps necessary to boost the economy, Finance Minister Arun Jaitley said. Commerce and Industry Minister Suresh Prabhu said the Department of Commerce was working closely with the finance ministry to address export-related issues that had arisen due to the rollout of GST. India will invest $122 mln in developing Chabahar port in Iran along with a separate investment of $85 mln on equipment required for the port.
* FMCG: Packaged food businesses can escape the 5% goods and service tax if they choose to forgo any actionable claim on their brand name, under norms on tax rates which will be notified by end of the week.
* INSURANCE: The Insurance Regulatory and Development Authority of India has invited bids from information technology service providers for revamping its internal and external platforms.
* PHARMACEUTICALS: The government is considering capping prices of more medical devices deemed essential in health care centres to improve their affordability and accessibility.
As many as 37 drug formulations, including those for treating bacterial and fungal infections, tuberculosis, malaria, anaemia, muscle pain and migraine, will become cheaper with the National Pharmaceuticals Pricing Authority reducing their prices.
* RAILWAYS: The Cabinet approved productivity-linked bonus equivalent to 78 days of basic pay to be paid to eligible non-gazetted railway employees for 2016-17 (Apr-Mar), Finance Minister Arun Jaitley said.
* REGULATORY: Securities and Exchange Board of India has revoked trading ban imposed on 114 entities, which had come under the scanner for alleged manipulation and misuse of stock market platform for tax evasion.
* STEEL: Banks are likely to reject Essar Steel's demand for 10 bln rupees of working capital loans.
* SUGAR: The government may allow more sugar imports if required in the country, Food Minister Ram Vilas Paswan said.
* TELECOMMUNICATION: The Telecom Regulatory Authority of India wants mobile telephone operators to reduce their voice call costs to the level of over-the-top applications.
