4th October 2K18
Economic Times
Ø Compensation to States Cess under GST valid: SC
Ø RBI eases rules for public OMCs to borrow overseas
Ø Federal Bank fined Rs 5-cr for non-compliance
Ø US ends Iran treaty after court ruling
Ø IL&FS may sell rights to operate toll roads to NHAI
Business Standard
Ø Verdict on eligibility to bid for Essar Steel today
Ø IFC extends Rs 1,000 cr loan to Aditya Birla Finance
Ø Moody's assigns A3 rating with stable outlook to Infosys
Ø ICICI Bank takes Gitanjali Gems to insolvency court over Rs 6.08-bn dues
Ø L&T bags Rs 30.36-bn order to build T2 of Bengaluru international airport
Ø Govt approves steep MSP hike, 50% profit over input cost for rabi crops
Ø Telcos' gross revenue fell 10% to Rs 584 bn in June quarter: Trai report
Business Line
Ø HCC wins ₹2,126-cr Mumbai coastal road package II
Ø BHGE, McDermott, L&T bag ONGC’s ₹11,740- cr contract
Ø Zee Entertainment eyes diaspora in 190 countries with OTT platform
Ø Sugar exports may be just 3 mt, not 5 mt, says Crisil
Ø Metropolitan Clearing Corpn to clear and settle ICEX trades
Ø Tata-Siemens consortium wins bid for Pune Metro project
Mint
Ø Amara Raja in tech tie-up with Johnson Controls
Ø M&As poised to cross $100 billion-mark in 2018
Ø Infra developers to get railway land, airspace on 99-year lease
Ø Govt plans special NRI deposit scheme to boost dollar inflows
Ø Honda buys stake in GM Cruise self-driving unit, to invest $2 billion
Financial Express
Ø India INX launches Global Access with connectivity to CME Group of exchanges
Ø SC allows NBCC to float tenders for selecting builder for stalled Amrapali projects
Ø Supreme Court upholds GST (Compensation to States) Act as constitutionally valid
Ø Tata Communications acquires Internet of Things firm Teleena
Ø Indian IT firms focus on Canada after Trump tantrums
Financial Chronicle
Ø Walmart submits details of tax deducted from Flipkart investors
Ø Prabhu to chair meet on Rupee, trade deficit
Ø Irdai to meet insurers to know about exposure
Ø SBI, PNB BoI brass seek finmin help to safeguard loans
04.10.18 Economic News
👉Supreme Court upholds GST (Compensation to States) Act as Constitutionally Valid, saying it was not beyond the Legislative Competence of the Parliament. It held that the Levy of 'Compensation to States' Cess is an increment to GST which is permissible under the Law.
👉Tightening the Norms for Issuance of E-Way Bill, GSTN makes it Mandatory for Businesses and Transporters to mention PIN Codes of places of Loading and Unloading of Consignments. So far, they are required to broadly mention the distance and place of loading and unloading of consignments for Generating E-Way Bill.
👉Walmart submits to Income-Tax Deptt Details of Tax Deducted from Each Flipkart Investor and also Submits the Rationale followed by it while Deducting or Not Deducting Taxes from Flipkart shareholders.
👉RBI slaps Rs 5 Crore Fine on Federal Bank for Non-Compliance on reporting of Large Borrower Exposures and Non-Payment of Customer Compensations, among other deficiencies
👉RBI has accorded In Principle Approval to the Kerala Govt. to set up Kerala Bank by Merging District Co-Operative Banks with State Co-Operative Banks.
👉SEBI may consider Daily Price Limits -- Circuit Filters in market parlance, even for Stocks that are part of the Future and Options (F&O) Segment
👉SEBI permits IDBI Bank for issuance of Preference Shares to LIC. The shareholding of LIC in IDBI Bank will increase to up to 51% after the Preference Share Issue.
👉NCLT admits ICICI Bank's Insolvency Plea Against Mehul Choksi-owned Gitanjali Gems
👉BSE signs a Licensing Agreement with the London Metal Exchange (LME), a move that will facilitate closer cooperation in areas such as product development, training and sharing of market resources. The LME is the world centre for the trading of industrial metals – the majority of all non-ferrous metal futures business is transacted on LME platforms.
👉ICAI releases Exposure Draft on AS 38 on Intangible Assets. Last date to send comments is 2nd November 2018.
