14th October 2K20
Ø Indian economy to contract by 10.3% in 2020; may bounce back with 8.8% growth rate in 2021: IMF
Ø India extends anti-dumping duty on import of a certain variety of fibre board exported from China
Ø India among top three FDI destinations in near future: CII-EY survey
Ø Expected hike in urea sales to raise subsidy bill
Ø NephroPlus acquires majority stake in Philippine's Royal Care dialysis centers
Ø India offers $38 bn opportunity for bi-lateral trade growth: Standard Chartered
Ø Wipro board approves Rs 9,500-crore share buyback; revenue up 1.4%
Ø India set to slip below Bangladesh in 2020 per capita GDP, says IMF
Ø Reliance Jio continues to remain the fastest mobile network: Trai
Ø JSW to raise $1 bn from overseas, domestic markets to retire debt
Ø Vedanta to return $2.5 billion funds after delisting plan fails: Report
Ø Securitisation sees 80% drop in H1FY21 due to Covid-19, moratorium: Crisil
Ø Govt hints at another stimulus package to boost demand
Ø Diesel, kerosene prices have been cut, no change in petrol, LPG: IOC
Ø Race for DHFL’s assets may be down to Piramal, Adani, Welspun
Ø CCI clearance for Tube Investments’ CG Power buy
Ø RBI’s ₹1-lakh crore long-term repo operation will push credit growth, say analysts
Ø UK economy to slump 9.8% this year on virus: IMF
Ø States see $31 billion of taxes disappear due to covid recession
Ø Major US stimulus would boost US, global economies: IMF official
Ø EU wins tariff clearance on $4 billion of US imports in Boeing case
Ø Wipro plans robust hiring in second half of FY21
Ø Non-life insurance industry’s gross direct premiums clock 4.41% fall
Ø Bank of Baroda mulling to move 50% of staff into WFH in 4-5 years
Ø Vodafone Idea ropes in IBM for ‘big data’ platform
Ø Cabinet to soon consider new public sector enterprises policy: Sources
Ø IRDAI proposes lower capital, liberal norms to float micro-insurance companies
Ø Pharma market reports growth in September
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⚫The Indian economy, severely hit by the pandemic, is projected to contract by a massive 10.3% this year, the International Monetary Fund said. However India is likely to bounce back with an impressive 8.8% growth rate in 2021, thus regaining the position of the fastest growing emerging economy.
⚫India has emerged as the leading choice for foreign direct investment, a latest survey of MNCs has revealed. The survey, conducted by the CII & EY found, India is set to become one of top three destinations for FDI inflow by 2025.the country’s market potential, skilled workforce and political stability are the three key reasons that make India their favoured destination.
⚫The Centre’s decision to fund the compound interest payment for small borrowers during six month moratorium period will come at a cost of Rs 6,500 crore.
⚫The Railways announced that it will operate 392 festival special trains between Oct 20 and Nov 30 in view of the upcoming festive season.
⚫ICAI November Exams postponed to 21st Nov 2020.Complete XBRL – Introduction
XBRL stands for eXtensible Business Reporting Language.
The Companies Act, 2013 has made it compulsory for certain companies to file their financials and documents in XBRL format with the Registrar of Companies (ROC). These companies are required to file their financial statements in e- form AOC – 4 (XBRL) with the ROC.
As per the Companies Act, 2013, following companies are required to file their financials and other documents in XBRL:
1. All public limited companies listed on a stock exchange in India and their subsidiaries.
2. All companies with a turnover of Rs. 100 Crore or more.
3. All companies with a paid-up share capital of Rs. 5 Crore or more.
4. All companies which were hitherto covered under the companies (Filing of Documents & Forms in Extensible Business Reporting Language) Rules, 2011.*INDEX*
NIFTY 11934.50 +0.03%
NIFTY FUT. 11946.10 -0.01%
SGX Nifty 11896.00 -0.38%
OUTLOOK
The market is expected to open on a negative note tracking weak global markets.
GLOBAL MARKET
Asian equities were set to slip on Wednesday as halted COVID-19 vaccine trials and an elusive U.S. stimulus agreement weighed on investor sentiment, while the dollar rose from Tuesday's three-week low as demand firmed for safe-haven assets. US stocks were mixed on Tuesday as the Dow and the S&P 500 closed lower and the Nasdaq notched up gains. All sectors in the S&P 500 index were lower on Tuesday driven down by losses in Real Estate and Financials, Consumer Staples was the best performing sector in a down tape.
FIIs/ FPIs
As per provisional figures, Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth net Rs.832.14 crore and Domestic institutional investors sold shares worth net Rs.1674.46 Crore on 13th October 2020.*Aadhaar PVC Card* : The New Aadhaar card will now come in a completely different avatar as the Unique Identification Authority of India (UIDAI) has allowed it to be reprinted as polyvinyl chloride (PVC) card. So, now you will be able to carry the Aadhaar card in your wallets, just like your ATM or debit cards." Loaded with the latest security features, your Aadhaar is now more durable, convenient to carry, instantly verifiable offline," UIDAI said.
USD 73.43 💷GBP 95.31
🥇Gold ₹50,350@10 gm 24 (Krt)
🥈 Silver ₹63,100@ Kg
⛽ Petrol ₹ 85.62
⛽ Diesel ₹ 77.63
Price of Non-Subsidised LPG cylinders/14.2 kg today in Gaya is at ₹ 692.00
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👉 Important Announcement - Revised Schedule of Chartered Accountant Examinations, November 2020 - (13-10-2020)
https://resource.cdn.icai.org/61467exam50014.pdf
👉 List of Valid Nominations for NICASA AGM 2020 to be held on 27th October, 2020 at ICAI Bhawan, Vishwas Nagar, Shahdara, Delhi. - (13-10-2020)
https://www.icai.org/post/valid-nominations-nicasa-elections-2020
👉 Provisional Registration in Foundation Course of the Institute of Chartered Accountants of India (ICAI) after passing Class X Examination. - (13-10-2020)
https://www.icai.org/post/provisional-registration-foundation-course-after-passing-class-x
👉 RBI Bulletin - October 2020
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50498
👉 RBI Releases “Handbook of Statistics on Indian States 2019-20”
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50500
👉 FAQs on Resolution Framework for Covid-19 related stress
https://www.rbi.org.in/Scripts/FAQView.aspx?Id=137
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