24th December 2K20
Ø RBI meets bankers, takes stock of Covid related stress & credit growth
Ø Tata Communications buys 58.1% stake in French e-SIM tech company
Ø FM Nirmala Sitharaman concludes pre-budget consultations
Ø Delhi High Court rules Amazon's attempt to control Future violative of FEMA FDI
Ø Essar Projects wins USD 62 million contract from Papua New Guinea
Ø NBFC collection efficiencies at their highest this fiscal says Crisil
Ø Cabinet paves way for 100% FDI in DTH services; licences for 20 years
Ø PE inflows to realty sector seen growing 30% to $6 bn in 2021: Report
Ø US consumer spending drops 0.4% in Nov, first decline since April
Ø Vedanta promoters to raise stake by 5% in Indian arm via block deals
Ø Pharma revenue, margins likely to remain healthy in next fiscal: ICRA
Ø DHFL's sale poses legal hurdle for Oaktree due to insurance JV stake
Ø Centre to implement Coal Import Monitoring System from February 1
Ø Cabinet okays merger of four film media units with NFDC
Ø Unpaid dues for airport services: SpiceJet to pay ₹100 crore to AAI
Ø Cairn Energy wins arbitration against India in tax dispute
Ø Emami plants get WHO-GMP, CoPP certification
Ø Firstsource buys US-based PatientMatters for $13 m
Ø Govt approves new DTH service norms, licences to be issued for 20 years
Ø UTI Small Cap Fund gets 86,000 applications, garners ₹920 cr during NFO period
Ø Airtel again pips Reliance Jio in mobile customer addition in October
Ø Indian firms invested in farm, financials abroad amid covid
Ø Honda Shine achieves 39% market share in 125cc segment
Ø Sebi’s relaxed IPO norms for startups may prompt more exits
Ø L&T's construction arm wins large contracts in Madhya Pradesh
Ø Chinese proposals worth Rs 12,000-13,000 crore await govt nod
Ø Flipkart arm Instakart found availing GST credit fraudulently
Ø Residential sales see recovery in the Oct-Dec period: JLL India
Ø Power ministry brings new rules to protect consumers
Ø COVID-19: UK reports another new variant to coronavirus from South Africa
Ø Pfizer to supply US with 100 million more COVID-19 shots by July
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⚫The Centre has inserted rule 86B to make it difficult to fraudulently claim input tax credit under the GST system. Now, businesses with monthly turnover of over Rs 50 lakh will have to mandatorily pay at least 1% of their GST liability in cash. Also, for missing invoices, businesses can now claim input tax credit on up to 5% of the amount, against 10% allowed earlier.
⚫The Union Cabinet approved changes to the guidelines for providing DTH services to bring it in line with the existing policy that allows 100% FDI in the DTH broadcasting services sector.
⚫The RBI Governor has asked banks to take proactive measures to strengthen their resilience and lending capacity by raising capital.The governor emphasised on the need to remain vigilant and make provisions against bad loans proactively.
⚫In a major setback, the Indian Govt has lost an international arbitration case to energy giant Cairn Plc over the retrospective levy of taxes, and has been asked to pay damages worth Rs 8,842 crore to the UK firm.
⚫With 19,174 fresh Covid-19 cases, India's caseload now stands at 10,111,256. At least 20 passengers from the UK tested positive as the Govt issued a stringent set of SOPs mandating RT-PCR tests at airports for each traveller from the country and isolation in a separate unit of an institutional facility for positive cases in view of the new coronavirus strain.
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