ENS Economic Bureau

RBI expands coverage of billers in payment system

The objective of the BBPS is also to provide an accessible bill payments system to the large segments of un-banked/ under-banked population.

CG Power case: Sebi bans Gautam Thapar, three others from securities market

The markets regulator has also restrained them from being associated with any intermediary registered with the Sebi or any listed entity or its material unlisted subsidiary, till further orders.

Piyush Goyal: ‘All options open for closure or merger of MMTC, STC, PEC’

The government holds 90 per cent stake in STC and 89.93 per cent stake in MMTC. PEC isn’t a listed company.

Sensex falls 642 points; markets worry over impact of oil price rise

The BSE benchmark Sensex plunged 642.22 points, or 1.73 per cent, to 36,481.09 and the broader NSE Nifty fell 185.90 points, or 1.69 per cent, to 10,817.60.

Indian MFs: UAE tops in investments by non-residents

MF units held by non-residents in Mauritius and Singapore declined after the amendment of Double Taxation Avoidance Agreement (DTAA) with these countries for withdrawal of capital gains exemption in a phased manner, effective April 2017.

RBI proposes regulation for payment gateways

According to the RBI, entities not able to comply with the net-worth requirement within the stipulated time frame, need not apply for authorisation but should wind-up payment aggregation business within one year of issuance of guidelines.

Coffee Day sells GV Techpark for Rs 2,700 crore

The transaction will bring down the group’s debt, which stood at Rs 4,970 crore as on August 17, 2019.

Ssensex down 262 points: Rupee slides 68 paise against USD on spike in global oil prices

The currency opened lower at 71.54, then fell to a low of 71.63 during the day and finally closed at 71.60, down 68 paise over its previous close as the rise in oil prices hit the forex market sentiment.

GDP growth falling to 5% a surprise, we are analysing why, says RBI Governor

"I think almost everybody had projected not below 5.5 or so. But the number of 5 per cent is a surprise. So we are analysing why exactly it has happened," RBI Governor Shaktikanta Das said.

Air India Assets Holding raises Rs 7000 crore on BSE bond platform

AIAHL is planning to raise funds by issuing bonds with different tenures as part of efforts to clean up the balance sheet of Air India, which has a debt burden of more than Rs 58,000 crore.

Ravi Shankar Prasad: ‘Step up investments in strategic, defence, medical electronics manufacturing’

Prasad said that his ministry would set up an institutionalised mechanism in form of a task force that would regularly interact with the industry, take their suggestions and address concerns.

Insurance premium rates to be cut for small exporters

The move follows measures announced by Finance Minister Nirmala Sitharaman on Saturday.

Working towards early resolution of many US-India trade issues: Piyush Goyal

The minister said the two countries were yet to “firm up” specifics of their discussions, which may be finalised when the Prime Minister and US President Donald Trump meet during an event organised by the Indian American community in Texas.

Govt targets flagging export, housing sectors: a Rs 70,000 cr ‘boost’

Priority sector tag for export credit; corpus for stuck housing projects

Change in FinCom’s ToR should be backed by chief ministers: Manmohan Singh

“I think that it is not good for the federal polity of our country and cooperative federalism we all swear by these days,” the former PM said while addressing the ‘National Seminar on Additional Terms of Reference of the 15th Finance Commission: Implication for the States’.

LOT Polish Airlines launches direct flight from Delhi to Warsaw

The company is deploying Boeing 787 Dreamliner aircraft to operate Delhi-Warsaw flights on Monday, Wednesday, Thursday, Saturday and Sunday, while Warsaw-Delhi flight will operate on Tuesday, Wednesday, Friday, Saturday and Sunday.

IRDAI launches Regulatory Sandbox for tech-led firms

Sujay Banarji, Member— Distribution, IRDAI, said “Regulatory Sandbox will foster collaboration and further the interests of all stakeholders i.e. regulator, insurance companies, start-ups and end consumers”.

GST aid to states could continue till fiscal 2024-25

However, for the post-FY22 period, the ‘shortfall’ would be estimated taking into account the fact that GST revenue buoyancy has been lower than expected.

Mahindra & Mahindra extends plant shutdown by 3 days

Retail sales continue to be in the slow lane, leaving dealers saddled with high inventory, while company stockyards are also short of space. This has reduced dealers’ ability to take further stock, prompting manufacturers to shut down plant and cut production.

‘Faceless’ tax filing: E-assessment scheme notified

The new e-assessment regime will be voluntary and taxpayers can take a call on whether to conduct their dealings over the e-system or through the existing procedure of manual submission of documents by visiting the tax office.