18th September 2K18
Economic Times
Ø Bank of Baroda, Vijaya Bank and Dena Bank to be merged
Ø Backing import restrictions at WTO a tall order: Experts
Ø Import curbs on non-essential goods may be declared
Ø Adani, IOC, BPCL, Torrent big winners of city gas licences
Ø Vodafone Idea to merge Aditya Birla Telecom
Ø Solar tariffs hit their record low once again
Business Standard
Ø KYC norms: Directors protest disqualification, seek time to finish process
Ø ArcelorMittal needs lenders' nod on Uttam Galva Steels shares, says SBI
Ø List of 'non-essential' imports to be finalised by the end of this week
Ø Banks' credit costs to stay at 2-3% till FY20, says India Ratings
Ø US interest rates 'boiling the frog' of risk assets, says Goldman Sachs
Business Line
Ø SEBI board to announce key policies at its meet on Today
Ø CNG prices likely to rise 12-14% in Oct
Ø Import curbs may cover steel, aluminium, alcohol, furniture
Ø Spot power price jumps to over 5-year high of Rs 14.08/unit
Ø Tata Global Beverages bets big on premium brews
Ø Reliance ARC to double total AUM to ₹4,000 cr in three years
Mint
Ø Offshore rupee bonds get tax exemption on interest payment
Ø Ola raises $50 million from new Chinese investors at $4.3 billion valuation
Ø Power prices surge to a record on higher demand
Ø Infosys spends $76 million to buy Finnish firm Fluido
Ø RBI rejects Maharashtra Bank request to set off ₹2,543 cr losses against share premium amount
Financial Express
Ø Gujarat discovers Rs 2.44/unit solar tariff in latest auction
Ø Lenders seek bids to replace Era Infra arm as road concessionaire
Ø NCLT seeks JP Associates reply to notice on ICICI Bank plea
Ø Icra downgrades Rs12k cr of IL&FS debt
Ø Icra downgrades long-term rating of OBC with negative outlook
Ø Sebi revises share buyback norms
Financial Chronicle
Ø Goldman Sachs lowers India equity investment view
Ø Lenders start hiking rates ahead of RBI meet
Ø Sensex nosedives by 505 pts, investors lose Rs 1 lakh crore
Ø Rupee slumps 67 paise against dollar on bearish sentiment
18.09.18 Economic News
👉Government Announces Merger of Bank of Baroda, Dena Bank and Vijaya Bank. The proposal will now need to be passed by the Boards of Individual Banks and Share Swap Ratios will be arrived at. The amalgamated bank would be the Third Largest Bank in India.
👉To Encourage Capital Inflows and to support the rupee, Govt. Exempts Interest Income of Overseas Investors Buying Rupee Bonds issued by Indian Entities. CBDT informs that Interest Payable to A Non-Resident or A Foreign Company regarding Offshore Rupee Bonds Issued from Monday till 31 March 2019 will be Exempt from tax, and hence, no tax will be deducted on Interest Payment at source.
👉CBIC issues Guidelines for Deductions and Deposits of TDS by the DDOs under the GST Regime
👉CBIC Extends the due date for filing GST TRAN-1 till 31st January, 2019 for the taxpayers who could not file the same due to the technical issues in the GST Portal
👉RBI rejects Bank of Maharashtra request to Set Off over ₹2,543 Crore Losses against the balance in its Share Premium Account.
👉India starts Anti-Subsidy Probe/Investigation into Increased Import of Copper Wire Rods Indonesia, Malaysia, Thailand and Vietnam following complaints by Domestic Players including Hindalco Industries and Vedanta Industries. The Commerce Ministry's Investigating arm Directorate General of Trade Remedies (DGTR) in a notification stated that there is "Prima Facie Evidence" of existence of subsidies on production and exports of 'Continuous Cast Copper Wire Rods' in these four countries.
👉ICAI releases handbook on Taxation of Non-Residents - Revised (2018) [Based on the law as amended by the Finance Act, 2018]
