31st October 2K18
Economic Times
Ø RBI to inject Rs 12,000 cr liquidity in system on Thu
Ø Government to sell 3% stake in Coal India
Ø PNB scam: Choksi opposes ED's fugitive offender plea
Ø GE cuts dividend, splits loss-making power unit
Ø Tata Motors starts production of upcoming SUV Harrier
Ø Cognizant records $28 million loss in India bribe talks with US DOJ, SEC
Ø UK may suffer long recession after no-deal Brexit: S&P
Business Standard
Ø Sebi not in favour of NSE-MCX merger due to co-location controversy
Ø Sebi cautions investors against dealing with foreign trading portals
Ø Tech Mahindra Q2 : Profit at 27% YoY beats street estimates
Ø Centre approves construction of 215,000 houses in 6 states under PMAY (U)
Ø Sebi exempts govt from making an open offer in PNB capital infusion
Ø Dr Reddy's facility fails to clear the inspections by USFDA yet again
Business Line
Ø FinMin looks to bury the hatchet with RBI
Ø Paper demand to touch 20.8 million tonne in FY21
Ø Italy, India to set up fast track mechanism to promote investments
Ø Govt kickstarts process for further M&As in energy sector
Ø Fortis case: Court bars 7 cos owing Singhs ₹639 cr from selling assets
Ø Emami Q2 profit falls amid flat revenues
Mint
Ø RBI looked the other way when banks lent excessively: Jaitley
Ø Jet Airways brings Goldman, BCG on board in revival efforts
Ø FSDC discusses NBFC liquidity issues, RBI promises adequate fund flow in system
Ø Shapoorji Pallonji, Royal Vopak to set up LPG terminal in Gujarat
Ø BPCL to shut crude unit, secondary capacity at Kochi refinery in Dec
Financial Express
Ø Centre, states apportion Rs 32,000 crore IGST in October
Ø Six Tata Trusts withdraw pleas against Income Tax department notices
Ø ICAI fast-tracks pending cases for enquiry
Financial Chronicle
Ø SBI halves ATM withdrawal limit to Rs 20k for some card holders
Ø Govt eyes consolidation route to reach divestment goal
Ø Spat shows central bank’s independence: Morgan Stanley
31.10.18 Economic News
👉CBIC Notifies the Amended Rules for GST Practitioners Exam
👉In a petition seeking amendment of GST Form TRAN-1, the Bombay High Court askes the petitioners to file a representation before the CBIC and directs the Board to address the Grievance & resolve the issue within a period of 12 weeks.
👉Tax Audit Due Date Extension: Kerala HC admits Petition and asks the department to file counter affidavit within ten days.
👉As much as Rs 32,000 Crore lying in the IGST pool has been Apportioned between the Centre and States in the month of October in which the states' share would be over Rs 15,000 crore
👉Ahead of Diwali festival, the RBI announces that it will inject Rs 12,000 Crore into the system through purchase of Government Securities on November 1 i.e. Thursday.
👉PNB Capital Infusion: SEBI exempts Govt from making an Open Offer to the shareholders of PNB following the Proposed Equity Infusion that will hike its stake in the bank by nearly six percent. The Central Govt, a promoter of PNB, has proposed to infuse capital worth Rs 5,431 Crore against allotment of equity on preferential basis, as part of its programme to help the bank in Meeting Capital Adequacy Norms.
👉Chennai-based public sector lender Indian Bank raises Rs 290 Crores under Basel-III-Compliant Tier-2 Bonds on with a coupon rate of 8.90% p.a., tenure at 10 years and Call Option after completion of 5 years on Private Placement Basis.
👉Govt Considering a proposal to Increase Import Duty on Aluminium with a view to support domestic players. Currently the Basic Customs Duty(BCD) on Aluminium Scrap and Primary Aluminium is 2.5% and 7.5% respectively.
