19th November 2K20
Ø L&T bags the order to supply Komatsu mining equipment to Tata Steel
Ø Vedanta Group puts in expression of interest to buy government stake in fuel retailer BPCL
Ø Insolvency and Bankruptcy Board of India amends liquidation regulations to hasten process
Ø Increase public spending on health sector to 2.5% of GDP by 2024: N K Singh
Ø Merger with LVB to strengthen DBS Bank's India biz: Moody's
Ø Clix Capital may apply for banking licence after failed merger with Lakshmi Vilas Bank
Ø Special forum likely for foreign investors to ease contract woes
Ø Global debt balloons by $15 trn this yr, may hit all time high of $227 trn
Ø RBI's out-of-the-box solutions may strengthen India's banking sector
Ø Subscribers under NPS, APY schemes reach 3.83 crore till Oct-end: PFRDA
Ø Market regulator asks bourses to increase the size of IPF corpus
Ø JSW Infra buys Chettinad Group's port terminals for Rs 1,000 crore
Ø Rising steel prices hit engineering exports: EEPC India
Ø Need to reverse trend of steel import for meeting domestic demand: Pradhan
Ø Welspun One Logistics Parks close to several deals for new warehouses
Ø Supreme Court to hear Tata Sons’ appeal against NCLAT ruling on December 2
Ø Mukand to get ₹713 cr from share sale to promoters
Ø Odisha approves ₹464.72 crore investment plans
Ø Unilever targets 1-bn-euro sales for plant-based foods
Ø Stable asset quality at Repco supports its modest valuation
Ø EU economy chief urges capitals to back recovery plan
Ø Hero MotoCorp retails over 14-lakh units of two wheelers during festive period
Ø Punjab & Sind Bank's board to consider plan for raising up to ₹5,500 cr
Ø I-T refunds worth ₹1.36 trillion issued to 40.19 lakh taxpayers till Nov 17
Ø Brexit creates jobs for customs staff in eastern Europe, India
Ø Domestic air passenger volume falls 57% to 52.71 lakh in October
Ø DBS Bank issues maiden green loans in India worth Rs 1,050 cr to CapitaLand
Ø WPI inflation rises to eight-month high in October
Ø Poorer and developing nations face vaccine wait as West locks down supply
Ø Lakshmi Vilas Bank shareholders to get nothing after merger with DBS India
Ø RBI proposes merger with DBS Bank as possible solution to Lakshmi Vilas Bank's capital woes
Ø Centre seeks time for decision on appealing against Vodafone int'l arbitration award
Ø Goldman Sachs raises India FY21 GDP forecast to -10.3%
Ø Sugar production jumps nearly 3-folds to 14.10 lakh tn till November 15: ISMA
Ø Tata Steel evinces interest in assets of Odisha-based NINL
Ø Bharat Petroleum confident of meeting 10% ethanol blending target by 2022
Ø Wipro shareholders approve up to Rs 9,500-cr buyback plan at Rs 400/share
Ø Piramal revises offer for DHFL's retail book to counter Adani bid
Ø Embassy Reit to acquire Embassy TechVillage in Bengaluru for $1.3 bn
Ø Pfizer moves US court against Aurobindo Pharma, Dr Reddy's on cancer drug
Ø Funds, securities worth Rs 2,300 cr settled in Karvy case, says NSE
Ø Oil prices fall back on tightening restrictions despite OPEC+ hopes
Ø Oil PSUs to start procurement of ethanol from maize soon
Ø L&T delivers booster segment for ISRO’s Gaganyaan launch vehicle
Ø NSE arm acquires ed-tech firm Talent Sprint
Ø Govt unveils new rules for setting up ICDs, CFS’ and air freight stations
Ø IIFL Finance raises ₹100 crore via NCDs
Ø Importers may find FSSAI’s proposed regulatory amendments ‘unpalatable’
Ø RBI announces merger of Lakshmi Vilas Bank and DBS Bank's India arm
Ø Walmart sells majority stake in Seiyu, nearly exiting Japan
Ø DHFL lenders looking at repayment plan for 55,000 FD holders
Ø Oil marketing companies to procure ethanol from maize
Ø Bitcoin tops $17,000 for first time since December 2017
Ø AirAsia flags cash drain in India after Japan unit goes bust
Ø US, China and EU to shape post-covid world economy: Moody’s
Ø Centre, states look to tighten GST registration process
Ø PM Modi pitches India as investment destination for urbanisation, mobility
Ø Jio wants periodic spectrum auctions, SpaceX pushes for satellite use to promote broadband
Ø Indian students contributed USD 7.6 billion to US economy last year
Ø WPI inflation rises to eight-month high in October
Ø Indian economy may be recovering faster than anticipated: Oxford Economics
Ø 15th Finance Commission submits report to Prime Minister
Ø DIPAM signs pact with World Bank for advising on CPSE asset monetizationk
Ø CIL floats tenders for 35 mining projects identified for mechanised coal transportation
Ø Larsen & Toubro emerges lowest bidder for road bridge over river Brahmaputra
Ø State-owned construction firm, NBCC, bags orders worth Rs 1,165 crore in October
Ø Korean Air to take over troubled Asiana Airlines for $1.6 billion
Ø WPI inflation rises to 8-month high of 1.48% on pharma, metal prices
Ø BPCL disinvestment gets going with multiple EOIs, Reliance stays away
Ø I&B Ministry seeks compliance of 26% FDI in digital news within a month
Ø UK faces skills shortage as Covid-19 splits job market, says McKinsey
Ø Home Depot to buy HD Supply Holdings in deal valued at $8 billion
Ø Moderna vaccine found 94.5% effective at preventing Covid-19
Ø November power consumption up 7.8% in first fortnight
Ø NTPC to procure 5 mt agro-based pellets this year
Ø Govt yet to finalise new inflation target beginning April 1, 2021
Ø Bharat Biotech’s Covaxin now in Phase III trials
Ø Vodafone confirms guidance after resilient H1
Ø EY acquires AI-enabled skilling platform Spotmentor Technologies
Ø Spain's BBVA exits US in $11.6 billion deal with PNC
Ø Aramco turns to bonds to help fund $75 billion dividend
Ø Australian bourse halts trading in longest outage in decade
Ø Walmart sells majority stake in Seiyu, nearly exiting Japan
Ø Ahead of IPO, FinMin invites bids from actuarial firms for valuing LIC
Ø Ruchi Soya to launch FPO next year: Baba Ramdev
Ø China’s factory output beats forecasts as Asia shakes off COVID-19 slump
Ø Shipments to West Asia decrease by nearly 50%
Ø September bank credit to micro, small businesses up 6.7% from year-ago even as growth in FY21 contracts
Ø Indian economy may be recovering faster than anticipated: Oxford Economics
Ø UAE grants 10-year golden residency visa to more professionals
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⚫India is among the few major nations among emerging and developing economies with higher inflation in Oct 2020 compared to pre-Covid levels. While the market expects headline inflation to ease to 4.2 in India in Q4 from 6.6% in Q2, inflation is estimated to remain at 6% in Dec & Jan of the current financial year.
⚫The Fifteenth Finance Commission Chairman, said the combined public sector spending on health should go up to 2.5% of GDP by 2024. The call comes as the Covid-19 pandemic continues. The report outlines how the public private partnership model can address the deficit in health infrastructure.
⚫The Govt collected Rs 72,480 crore so far under its flagship, Vivad se Vishwas direct tax resolution scheme, with over a month to go for the deadline.
⚫Small savings cross Rs 1-trillion mark in first 6 months. This is 25% more than last year, and 130% more than the average of the past five years.
⚫Delhi recorded 7486 fresh COVID-19 cases on Wednesday, taking the infection tally in the city to over five lakh, while 131 new fatalities, the highest single-day death count till date.
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⚫India’s industrial activity returned to the growth territory in Sept after a gap of six months. Data released showed a small uptick led by recovery in consumer goods, electricity and mining sectors.The IIP grew by 0.2% in Sept on a YOY basis compared to a 7.36% contraction posted in August.
⚫The recovery in exports seen in Sept was short lived as outbound shipments contracted by 5.12% in October as the second wave of Covid-19 hit Europe and the US continued to reel from the pandemic's impact. Almost all high value items petroleum products, gems and jewellery, engineering goods or electronic goods contracted except for pharmaceuticals.
⚫The Govt’s move to allow primary or first sale of housing units costing up to Rs 2 crore at a price 20% below the stamp duty circle rate would enable real estate developers to liquidate their unsold inventory and also benefit homebuyers.
⚫India has reported 45343 fresh Covid 19 cases in the past 24 hours. The total caseload now stands at 87.73 lacs. Delhi recorded a spike of 7802 Covid-19 cases.
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👉🏻Finance Ministry seeks ideas, suggestions and proposals for Annual Budget 2021-22
(General public in their individual capacity need to register on MyGov to submit their ideas for Budget 2021-22)
👇🏻 👇🏻 👇🏻
https://bit.ly/2ICEAJ8
👉🏻Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999
(RBI has decided to discontinue the 17 returns/reports as listed in the Annexure with immediate effect.A.P. (DIR Series) Circular No. 05 dated 13/11/2020)
👇🏻 👇🏻 👇🏻
https://bit.ly/35w8UOA
👉🏻Communication To and Communication From Previous Auditor
(Communication To and Communication From Previous Auditor| New mode of communication by ICAI - Part 1)
👇🏻 👇🏻 👇🏻
https://bit.ly/32IGqzw
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⚫A petition has been filed before the Supreme Court, which is likely to come up for hearing in the coming days, has sought life imprisonment for offences such as bribery, black money, benami property, tax evasion, money laundering, profiteering, grain hoarding, food adulteration, human and drug trafficking, black marketing and cheating.
⚫The UAE will extend its "golden" visa system which grants 10 year residency in the Gulf state to holders of doctorate degrees, medical doctors and also computer, electronics, programming, electrical and biotechnology engineers.
⚫Initial bids for privatisation of BPCL will close on Monday amid indications of supermajors UK's BP Plc, Total of France and Saudi Aramco unlikely to bid. The Govt, which is selling its entire 52.98% stake in India's second largest oil refining and marketing company, had on four occasions extended the date of putting in the preliminary EoI.
⚫Negative real rates in India and recovering growth alongside high inflation suggest its central bank has little room for more monetary stimulus, but policy is likely to stay accommodative, economists & analysts said.
⚫Delhi is witnessing a third wave of surge. On Sunday it added 7,340 Covid cases to take its tally to 482,170.
⚫As many as 25 persons including two kingpins and as many professionals have been arrested in last four days for allegedly issuing fake invoices for taking ITC under the GST regime. As many as 350 cases have been booked against 1,180 entities in the matter.
⚫Wholesale price index based inflation rate rose for the third straight month to an eight month high of 1.48% in October, from 1.32% the previous month. Economists say WPI data enforces the case for status quo in the policy rate by the RBI''s monetary policy committee.
⚫Heeding the call to boycott China from various quarters, Indian consumers have mostly stayed away from purchasing China made products this festive season. According to a survey, 71% of local consumers did not purchase goods that carried Made in China tag.
⚫BPCL disinvestment gets going with multiple EOIs, Reliance stays away. Aramco also not in fray; actual number bids not revealed but sources say three of four have been received.
⚫The Ministry of Information and Broadcasting issued a public notice asking entities involved in streaming of news and current affairs through digital media to comply with the Centre's earlier order permitting 26% FDI under the Govt approval route to such entities.
⚫Home Minister has asked the Delhi Govt to add up to 300 more ICU beds and double RT-PCR testing capacity as part of urgent steps to control the rising Covid-19 cases.
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👉🏻Govt may invoke COFEPOSA against offenders in fake invoices for GST credit
(Govt. is examining if the offenders can be booked under COFEPOSA (Conservation of Foreign Exchange and Prevention of Smuggling Activities Act)
👇🏻 👇🏻 👇🏻
https://bit.ly/3kDXahi
👉🏻ITR 5 for AY 2020 - 21 | Change in ITR 5 for AY 2020-21
( New ITR 5 Form for the AY/FY 2020-21/2019-20 and Procedure to file ITR 5 Discussed by CA. Satuti Mahajan)
👇🏻 👇🏻 👇🏻
https://bit.ly/3nveg2T
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⚫PM spoke to US President, with the two leaders discussing the pandemic, climate change and cooperation in Indo Pacific Region, while reiterating their firm commitment to the strategic bilateral partnership.
⚫PM is keen to attract foreign investment to modernize India’s urban centers as the world’s second most populous nation rebuilds its economy after the coronavirus halted activity.The country will have to develop up to 800 million square meters each year till 2030 with more than 40% of population expected to live in cities.
⚫The RBI proposed to merge private sector lender Lakshmi Vilas Bank with the India subsidiary of Singapore’s DBS Bank, even as LVB was put under moratorium for at least a month by the Govt.
⚫RBI imposed restrictions on withdrawals from Maharashtra based Mantha Urban Cooperative Bank for six months.
⚫With daily Covid positive cases touching new highs for the past two weeks in the national Capital, Delhi CM said his govt has sought permission from the Centre to modify guidelines to shut markets that may emerge as Covid-19 hotspots. Delhi Govt is also looking at reducing the number of people allowed at weddings to 50, from 200.
⚫Param Siddhi, the super computer established under the National Supercomputing Mission, has achieved 63rd rank in the list of 500 most powerful supercomputers in the world.
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👉 Update on Blocking of E-Way Bill (EWB) generation facility, after 1st December, 2020
https://www.gst.gov.in/newsandupdates/read/415
👉 Important Announcement November-2020 CA Examinations - (12-11-2020)
https://www.icai.org/post/imp-announcement-november-2020-ca-exam-12thnov2020
👉 Timeline for filing of belated documents has been extended upto 30th November, 2020 due to Extension of LLP Settlement Scheme, 2020 - (12-11-2020)
https://www.icai.org/post/timeline-for-filing-of-belated-documents-extended-upto-30th-nov-2020
👉 Change of certain Examination Centre / minor correction in the address for November 2020. - (17-11-2020)
https://resource.cdn.icai.org/61862exam171120.pdf
👉 RBI Announces Special Open Market Operations (OMO) Simultaneous Purchase and Sale of Government of India Securities
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50654
👉 Discontinuation of Returns/Reports under Foreign Exchange Management Act, 1999
https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11994&Mode=0
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