16th September 2K20
Ø Consumer confidence up marginally in September: Survey
Ø Lok Sabha clears bill to amend Essential Commodities Act
Ø Exports down for sixth straight month falling nearly 13% in August
Ø US restrictions on textile imports from China may benefit India: Icra
Ø Aurobindo Pharma ties up with Biotechnology Industry Research Assistance Council for vaccine
Ø RBI proposes to launch exchange-traded, OTC interest rate derivatives
Ø Govt's PLI boost set to make India manufacturing hub for Apple iPhones
Ø Sebi clarifies on penalty for non-collection of margins in cash segment
Ø Parliamentary panel bats for abolishing LTCG on startup investments
Ø Adani, GMR among 20 firms keen on rebuilding New Delhi railway station
Ø Govt reforms will unleash growth wave for India: CEA
Ø Dish TV to shift half of set-top-box production to India
Ø 6 banks, led by SBI, mop up 68% more gold this fiscal
Ø Amtek Auto: Lenders move SC against Deccan Value’s force majeure
Ø Under Covid turbulence, SpiceJet posts ₹593.4-crore Q1 net loss
Ø AUM of ETFs tracking Nifty tops ₹1-lakh cr
Ø General Motors explores market for electric 'flying cars'
Ø Bill to amend Bankruptcy Code tabled in Rajya Sabha
Ø DGCA begins special safety audit of IndiGo, Vistara
Ø MFs pile on private banks; oil & gas weightage slips to 3-month low in August
Ø Deutsche Boerse AG exits BSE; sells remaining shares for ₹44 crore
Ø Airtel picks STL to fiberize 10 telecom circles
Ø India received USD 20 billion in FDI during Covid: Foreign Secretary
Ø India will be back to high growth through reforms after overcoming pandemic: CEA
Ø Total capacity of under construction thermal power projects at 59,810 MW
Ø Over 30 lakh Indian bank accounts beneficiary of Chinese online gaming fraud
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👉🏻RBI mandates automated recognition of NPAs, provisioning by June 2021
(All borrowal accounts, including temporary overdrafts, irrespective of size, sector or types of limits shall be covered in the automated IT- based system for asset classification, upgradation and provisioning processes)
👇🏻 👇🏻 👇🏻
https://bit.ly/2Fx229j
👉🏻Govt urges Pvt sector to clear MSME dues on priority
(MSME, Ministry has asked the private sector enterprises of the country to take measures for release of payment of MSME dues on priority)
👇🏻 👇🏻 👇🏻
https://bit.ly/2RoKPBL
👉🏻CBDT dedicates two-thirds of workforce to faceless assessment scheme
(Central Board of Direct Taxes has dedicated two-thirds of its workforce towards the faceless assessment scheme)
👇🏻 👇🏻 👇🏻
https://bit.ly/3hvJ6Fa
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LEGAL KNOWLEDGE CAPSULE
✒️ Supreme Court while dismissing a transfer petition observed that *No petition can be transferred from one court to another on the sole ground of delay in disposal.
✒️ Madras High Court has allowed the Assessing Officer (AO) to issue a show-cause notice to the Petitioner calling for his objections with regard to “Input Tax Credit (ITC) on reversal on wastage” and “Ineligible claim of ITC on goods” are concerned.
✒️ Supreme Court held that for application of subsequent legislation retrospectively it is necessary to show that the previous legislation had any omission or ambiguity or it was intended to explain an earlier act.
✒️ Himachal Pradesh High Court has held that not responding to a Show-cause notice without any reasonable cause implies acquiescence to the contents thereof and ordinarily, action taken thereafter upon the said Show-cause notice, is not open to challenge.
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⚫India's coronavirus battered economy will shrink by 9% this fiscal, the Asian Development Bank predicted saying growth outlook remains highly vulnerable to either a prolonged outbreak of the pandemic or a resurgence of cases.
⚫India plans to introduce a new law banning trade in cryptocurrencies, placing it out of step with other Asian economies which have chosen to regulate the fledgling market.The Govt will encourage blockchain, the technology underlying cryptocurrencies, but is not keen on trading.
⚫ICMR Director today said three vaccines are at the clinical trial stage in India. Cadila and Bharat Biotech have completed phase-I trials. Serum Institute has completed phase II-B3 trials and will start phase-III trial after clearances.
⚫The new Banking Regulation (Amendment) Bill, 2020, introduced by the Govt provides the RBI powers to restructure cooperative banks.
⚫The RBI proposed to introduce exchange traded and over the counter interest rate derivatives products that would be accessible to both foreign investors and retail participants.
⚫India has one of the better air safety indicators in the world as aircraft accidents in the country in 2019 were just 0.82 per million flights as compared to the global average of 3.02, said Civil Aviation Minister.
⚫India has crossed the grim 5-million mark by recording over 82,376 cases in the last 24 hours. Infections are rising rapidly in states like Karnataka, Uttar Pradesh and West Bengal. Meanwhile, Delhi recorded 4,263 new corona cases ck.
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