2nd June 2K21
Ø Non-banks' NPAs may rise to 4.5-5 per cent by March 2022: Icra
Ø GMR, Adani, Godrej Properties among 9 companies qualified to redevelop the iconic CSMT railway station
Ø Sugar production up 13 pc to 305.68 lakh tonnes during Oct'20 - May'21
Ø Gold traders write to Finance Ministry to increase settlement period of gold metal loan
Ø SBI invites bids from ARCs for two accounts for recovering Rs 409 crore
Ø CIL's coal offtake jumps 38 per cent to 55 million tonnes in May
Ø Second Covid wave threatens India's long-term credit rating, warns Moody's
Ø ITC adjusted PAT rises 6.5% in Q4, declares final dividend of Rs 5.75
Ø Credit losses set to decline for most Asia Pacific banks, says S&P
Ø Sebi permits off market transfers to ease fund relocation to IFSC
Ø Suzlon bags order to develop 252 MW wind power project from CLP India
Ø Sebi bans eight, including 2 company staff, for insider trading in Infosys
Ø SBI’s Ecowrap revises FY22 GDP projection to 7.9% from 10.4%
Ø Without gas transmission pact with GSPL, IGX’s growth is hit: Mediratta
Ø TVS Motor total sales down 30 per cent in May
Ø PNB to write to IRDAI on stake sale plan in Canara HSBC OBC Life, says MD and CEO
Ø Maruti Suzuki sales decline 71 per cent in May over April
Ø Rolex Rings gets SEBI nod to launch IPO
Ø BRICS call for reforming United Nations, IMF, WTO and WHO
Ø OPEC+ set to sign off on July increase as market tightens
Ø Govt waives registration certificate issuance, renewal fee for EVs
Ø Sebi kicks in higher peak margin on day trade from today
Ø Wadhawan moves SC against NCLAT stay against his offer for DHFL
Ø PNB slashes MCLR across select tenors from today
Ø BSE SME, BSE Startups seek listing of small enterprises in ICT exports; partner with industry body ESC
Ø Revenue from shrimp export to jump 20% in CY21: Crisil
Ø BSE StAR MF Logs Record 1.14 Cr Transactions Worth Rs 30,938 Cr In May
Ø Rupee Falls For 2nd Day, Declines 28 Paise To 72.90 Against Dollar
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⚫SBI economists sharply slashed their FY22 GDP growth estimates to 7.9% from the earlier projection of 10.4%.
⚫Indian equity markets that are trading near all time high levels, could see a record Rs 2–3 trillion equity supply in fiscal FY22 with 40% of this being raised via IPOs, though the actual quantum of the corporate equity paper supply would depend on institutional flows and may bring in new investors.
⚫Centre's indirect tax share in GDP rises in FY21 after four years. Share of corporation tax collections in gross tax revenue falls to 10-year low.
⚫Govt may extend social and rural relief schemes. Aims to provide impetus to rural economy and small businesses.
⚫IMD upped its 2021 monsoon forecast to 101% of the Long Period Average, meaning most parts of the country can expect to get normal to above normal rainfall.
⚫The Govt announced the cancellation of CBSE and ISC board exams for Class 12.
⚫India reported 133,228 fresh Covid-19 infections.
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⚫The S&P BSE Sensex posted its biggest May month rally in the past seven years after a sharp surge in consumer discretionary, financials and RIL stock. Analysts say there is still more room for an upside, albeit amid minor corrections on the way.
⚫India’s economy grew 1.6% in the 4th quarter of 2020-21, indicating that a recovery was well underway before the second wave of Covid-19 struck. For the FY21, the country's GDP contracted 7.3%.
⚫The Centre’s fiscal deficit for the fy 2020-21 settled at 9.2% of the GDP, marginally below the Govt’s revised target of 9.5%.This was on the back of better than expected revenue receipts with expenditure staying broadly at the level targeted in the revised estimates of the Budget.
⚫The Govt allowed the supply of oxygen to certain industries on 'temporary basis subject to ensuring adequate supply of medical oxygen to hospitals and other medical purposes.
⚫As Delhi unlocks, manufacturers and realtors face severe roadblocks. Shortage of labour, lack of supply of materials pose hurdles to resuming operations.
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👉Extension of the due date of filing Application for Revocation of Cancellation of Registration
https://www.gst.gov.in/newsandupdates/read/474
👉Announcement regarding Revised List of Forms where additional fees has been waived off as per Circular 06/2021 and 07/2021 issued by the Ministry of Corporate Affairs by CL&CGC ICAI - (31-05-2021)
https://resource.cdn.icai.org/64930clcgc310521a.pdf
👉Customer Due Diligence for transactions in Virtual Currencies (VC)
https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12103&Mode=0
👉Master Directions – Priority Sector Lending (PSL) – Targets and Classification
https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=11959
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👉🏻RBI asks banks for customer due diligence for transactions in virtual currencies
(RBI has advised banks & other regulated entities to continue to undertake due diligence of customers dealing with virtual currencies popularly known as crypto currencies)
👇🏻 👇🏻 👇🏻
https://bit.ly/2SLOaPe
👉🏻SEBI asks listed firms to disclose loans given to promotes in Compliance Report
(SEBI asked listed companies to make disclosure about loans and guarantees provided by them to promoter or any other entity controlled by them on a half-yearly basis in the compliance report on corporate governance)
👇🏻 👇🏻 👇🏻
https://bit.ly/3vDtveA
👉🏻GST Implications on Hotel and Restaurant Industry
(GST Implications on Hotel and Restaurant Industry discussed by CA. Aashna Cajla)
👇🏻 👇🏻 👇🏻
https://youtu.be/1grcdZvrfEc
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⚫Corporate profit to GDP ratio hits 10-year high of 2.63% in FY21. India Inc's combined net profit was up 57.6% to Rs 5.31 trillion in FY21
⚫CoalMin targets projects worth Rs 41K-crore for asset monetisation. These projects include coal washeries, coal gasification, first-mile connectivity for building coal silos/mechanised loading, offering mines to private firms under mine developer and operator model.
⚫The Govt has expanded the Rs 3-trillion Emergency Credit Line Guarantee Scheme to help businesses hit by Covid-19 pandemic. Dubbed ECLGS 4.0, the scheme has added the civil aviation sector and loan to health institutions for on-site oxygen generation plants.
⚫RBI's status quo policy may revolve around Covid-19 pandemic measures. RBI's forecast for growth is 10.5% for the current fiscal year. Most analysts expect the RBI to lower it in the June 4 monetary policy announcement.
⚫The onset of the southwest monsoon is expected to be delayed by two days and the rains are now likely to hit the Kerala coast on June 3.
⚫The United Arab Emirates extended the suspension of passenger flights from India till June 30 to combat the spread of the coronavirus pandemic.
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👉Please refer the attached file for the list of forms for which additional fee waiver is made available as per Circular no. 06/2021 and 07/2021. Stakeholders may please take note and plan accordingly. | 119 KB
https://www.mca.gov.in/bin/dms/getdocument?mds=hDZggIIF02cA%252FGWtstDmRQ%253D%253D&type=open
👉The Income Tax Department is going to launch its new e-filing portal www.incometax.gov.in on 7th June, 2021. The existing portal of the Department at www.incometaxindiaefiling.gov.in would not be available to taxpayers as well as other external stakeholders for a brief period of 6 days i.e. from 1st June, 2021 to 6th June, 2021. click to view
https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/120052021180809.pdf
👉Covid treatment: Banks offer unsecured loans of up to Rs 5 lakh
https://economictimes.indiatimes.com/industry/banking/finance/banking/covid-treatment-banks-offer-unsecured-loans-of-up-to-rs-5-lakh/articleshow/83105768.cms
👉Bank credit growth decelerates to 5.6 per cent in March
https://economictimes.indiatimes.com/industry/banking/finance/banking/bank-credit-growth-decelerates-to-5-6-per-cent-in-march/articleshow/83040519.cms
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