Friday, 17 July 2020

17 July 2020 News and Updates

17th July 2K20

Economic Times
 
Ø  ICRA revises GDP downward to -9.5% for FY21
Ø  CIL unveils e-auction to reduce imports
Ø  India 3rd in Global Manufacturing locations
Ø  Mozambique Gas Project of OVL, OIL ties up $14.9 billion debt for LNG Project Financing 
Ø  Govt plans to impose 20% customs duty on Solar Power Equipment to cut imports: Anurag Thakur
Ø  DoT withdraws Rs 2.3 lakh crore demand notices on GAIL, OIL in past telecom dues

Business Standard

Ø  Capital infusion in 3 state-owned insurers 'Credit Positive': Moody's
Ø  RBI directs ARCs to train recovery agents not to harass borrowers
Ø  P-notes investment in Capital Market climbs to Rs 62,138 cr till June
Ø  Reliance's 20% Stake Sale to Saudi Aramco stalled over Valuation: Report
Ø  Nine companies in last lap for redevelopment of four railway stations

Business Line

Ø  At 18.6% of National pie, TN tops Q1 fresh investments ranking
Ø  Godrej Protekt aims to be a ₹500-crore brand in 3 Years 
Ø  PTC India seeks to give up stake in PTC India Financial Services
Ø  Muthoot Finance posts four-fold jump in Digital loan disbursal
Ø  L&T Infotech posts ₹416.4-cr net Profit after tax in Q1

Mint

Ø  Hewlett Packard Enterprise unveils HPE Ezmeral
Ø  L&T Finance Q1 Profit falls 73% to ₹148 Crore on Higher Provisions 
Ø  Indian banks are in for a ₹20-trillion hole
Ø  India-US inch closer to seal the limited Trade Deal 
Ø  US Retail sales jump 7.5% in June, but economy still ails
Ø  NCLT sets aside insolvency proceedings against V2 Retail

Financial Express

Ø  Revenue of Indian Cotton spinners to contract by 25-30 pc in FY21: ICRA Ratings
Ø  Demand for Jobless aid high in US, even as Economy slowly picks up
Ø  PM Modi to address High-Level Segment of UN ECOSOC on Friday
Ø  Aramco seeks 20% cut in Reliance’s O2C Business Valuation; deal hits Roadblock 

Deccan Chronicle

Ø  EU hoping for "ambitious" free trade pact with India
Ø  India's Electricity Output recovers further in first half of July
Ø  ATF Price hiked by 1.5%, Petrol and Diesel rates unchanged
Ø  Oil Prices slip after OPEC, allies agree to ease supply curbs

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👉🏻Banks sanction about Rs 1.23 lakh Cr (loans to MSMEs under credit guarantee scheme
(Finance Ministry said banks have sanctioned loans of about Rs 1.23 lakh crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector)
👇🏻 👇🏻 👇🏻
https://bit.ly/39blq6v

👉🏻RBI issues Fair Practices Code for Asset Reconstruction Companies
(As per the guidelines ARCs need to follow transparent and non-discriminatory practices in acquisition of assets and maintain arm’s length distance in the pursuit of transparency)
👇🏻 👇🏻 👇🏻
https://bit.ly/3fBDNEd
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Taxpayer should not be denied of Hearing Opportunity due to Lockdown: Gujarat HC grants relief [Read Order]

Read more at: https://www.taxscan.in/taxpayer-should-not-be-denied-of-hearing-opportunity-due-to-lockdown-gujarat-hc-grants-relief/65038/
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CBIC notifies Amendments to the All Industry Rates of Duty Drawback effective from July 15, 2020

Read more at: https://www.taxscan.in/cbic-notifies-amendments-to-the-all-industry-rates-of-duty-drawback-effective-from-july-15-2020/64964/
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Madras HC directs Customs Authority to Refund entire Excess Amount paid as enhanced Duty within 2 months [Read Order]

Read more at: https://www.taxscan.in/madras-hc-directs-customs-authority-to-refund-entire-excess-amount-paid-as-enhanced-duty-within-2-months/65049/

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