30th October 2K18
Economic Times
Ø Govt very upset with RBI for making rift public: Sources
Ø PNB scam: Nirav Modi opposes fugitive offender plea
Ø SC allows renegotiation of power tariffs for 3 plants
Ø Distressed asset sales 3% of overall M&A in 2017
Ø Tata Capital plans infra debt fund for green projects
Business Standard
Ø BPCL Q2 profit slips 48% at Rs 1,219 crore
Ø Govt upset with RBI for being kept in the dark about PCA, NPA norms
Ø Rupee fall puts Rs 280 bn solar power projects at viability risk: Crisil
Ø LIC Housing Fin Q2 PAT up 12% to Rs 5.73 bn, loan portfolio up 10%
Ø Japan backs India's membership bid to join Nuclear Suppliers Group
Ø Tata Power Q2 net profit jumps 85% due to strong show by renewables
Business Line
Ø Investors of scam-hit NSEL up in arms against SEBI
Ø India’s crude steel output grows 2% to 8.5 MT in Sep: worldsteel
Ø L&T JV to export missiles to Europe from Coimbatore SEZ
Ø Century Textiles Q2 net jumps 3-fold to Rs 156 cr
Ø Sterlite Copper accuses TNPCB of providing ‘flawed data’
Ø IBM to buy Red Hat for $34 billion in cloud push
Ø India, Japan sign $75 billion currency swap agreement
Mint
Ø Jet Airways eyes help from Ratan Tata, Mukesh Ambani
Ø Bharti Airtel is said to delay IPO of $8 billion Africa business
Ø JSW Steel revamps production to meet steel demand
Ø NSDL Payments Bank starts operations
Ø Usha Martin promoters put aside differences over sale to Tata
Financial Express
Ø Vedanta wins 10-year extension for Rajasthan oil block
Ø Bank of Japan seen standing pat amid growing focus on 10-year yield range
Ø DoT to challenge TDSAT order allowing RCom to sell spectrum without bank guarantee
Ø RBI employees association seek central bank’s autonomy
Financial Chronicle
Ø RBI okays Puri’s term as HDFC Bank chief till 2020
Ø DoT to seek AG's views on new digital eKYC
Ø Adani, Tata, Essar power plants get SC nod for tariff revision
Ø Toxic IL&FS foreign arms to be shut under Kotak resolution
30.10.18 Economic News
👉The income tax department said on Monday it will allow online filing of applications for tax breaks to certain entities which at present have to file these manually.The beneficiaries of the move are charitable institutions, religious trusts, not-for profit universities and educational institutions as well as not-for profit hospitals. These entities have to apply for tax relief on the funds they receive. Also, individuals who claim deduction under section 80G for the donations made to certain entities from their taxable income will be allowed to apply online.
👉 State Bank of India (SBI) expects the ‘dirty dozen’ large bad loan cases referred to the bankruptcy courts to be resolved by the end of the current fiscal. According to managing director Arijit Basu, the bankruptcy process has stabilised with several Supreme Court rulings and there is more clarity in the process
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👉The Reserve Bank has relaxed norms for the fire audit of currency chests allowing banks to get it done from approved agencies in case of shortage of staff at district fire offices.Banks maintaining currency chests are required to get fire audit done once in a two years.
👉The Micro Small and Medium Enterprises (MSME) are not getting the required attention of investors, despite being the "real drivers of economy", Meghalaya Chief Minister Conrad K Sangma said Monday.
👉Diamond trader Nirav Modi, a prime accused in the multi-crore PNB scam, Monday filed an application before a special court opposing the ED's complaint to have him declared a "fugitive economic offender" under the Fugitive Economic Offenders Act (FEOA).
👉Amid difference between the Reserve Bank of India (RBI) and the finance ministry, officials said the government was upset with the central bank for not consulting it before finalising norms for prompt corrective action (PCA) and classification of non-performing assets (NPAs).
👉The RBI has upped the ante on the central bank’s autonomy even as it warned that the regulator’s conservatism is essential for the long-term stability of the economy. Delivering the AD Shroff Memorial Lecture, RBI deputy governor Viral Acharya said undermining the RBI’s independence will have a “catastrophic” impact.
