Government / Regulatory News:

  • Government is considering a plan to loosen its fiscal deficit target so that it can spend up to Rs. 50000 cr more to halt an economic slowdown.
  • Prime Minister Narendra Modi asks cooperatives to venture into new business areas like beekeeping and seaweed farming to help farmers double their income by 2022 and boost the rural economy.
  • SEBI Chairman Ajay Tyagi pitches for multiple products and fund-raising avenues for investors so as to help broaden participation in the capital market.
  • NSE is to auction investment limits for foreign investors for purchase of corporate bonds worth Rs. 2200 cr on 22nd September.
  • The US Federal Reserve keeps its targeted federal-funds rate unchanged at 1-1.25%, but says that it would begin to reduce its $4.5 trillion balance sheet in October.
  • Finance Minister Arun Jaitley hints at a package of measures to boost the economy, while ruling out any cut in duties on petroleum products to check the spike in fuel prices.
  • Government asks banks to check all accounts of promoters and directors of shell companies for possible fraudulent activities.
  • Government is considering cash transfers under the Integrated Child Development Scheme (ICDS).
  • Cabinet Committee on Economic Affairs approves the transfer of three Indian Tourism Development Corporation Ltd’s hotels to state governments.
  • RBI notifies peer-to-peer (P2P) lending businesses as a special category of non-banking finance companies (NBFCs).
  • Government could soon introduce steps to speed up growth, create jobs and give a boost to exports and investment in infrastructure.
  • Finance Ministry imposes definitive anti-dumping duty on new Chinese radial tyres (including tubeless) used in buses and lorries/trucks.
  • CBDT decides to bring in a self-reporting mechanism for corporates for their estimated incomes, tax payments and advance tax liability.
  • RBI assures banks that they can classify priority loans given to defaulting companies in the bankruptcy process as standard debt.
  • SEBI plans to rope in third-party agencies to set up a network and security operation centre, which will enable it to effectively detect and protect against security threats including from ransomware.
  • TRAI cuts the Interconnect Usage Charges (IUC) by 57% to 6 paise per minute with effect from 1st October; also says the charge will be fully abolished for all local calls starting 1st January, 2020.
  • The two-day Fed Open Market Committee meeting, which begins on Tuesday, will be closely watched by markets as the U.S. central bank is expected to announce balance sheet reduction in an effort to normalise monetary policy.
  • India’s current account deficit (CAD) in the first quarter ended June 2017 widened sharply to 2.4% of the gross domestic product (GDP) at $14.3 bn, from 0.1% a year ago and 0.6% in the fourth quarter of the last fiscal.
  • India’s exports grew 10.3% to $23.8 bn in August, while imports increased 21% to $35.46 bn, resulting in a trade deficit to $11.6 bn, compared with $11.45 bn in July and $7.7 bn a year earlier.
  • India’s forex reserves surged by $2.60 bn to reach an all-time high of $400.73 bn in the week ended 8th Sep.
  • Government is considering a proposal to introduce its own cryptocurrency.
  • Government is planning raise funds from the markets to fund the smart city and housing for all projects.
  • Government may raise over Rs 15000 cr from IPOs of New India Assurance and GIC Re.
  • Government asks companies to allocate a portion of their corporate social responsibility funds to a campaign called Swacchta Hi Seva.
  • Japan International Cooperation Agency (JICA) signs an agreement with the Indian government to provide a development assistance loan of Rs 6000 cr to buy 200 electric locomotives for the Western Dedicated Freight Corridor (WDFC) Project.
  • India and Japan to work to elevate special strategic and global partnership; sign 15 agreements in the summit and also lay the foundation for a high-speed rail link between Mumbai and Ahmedabad.
  • India’s wholesale price-indexed (WPI) inflation rose to 3.24% year-on-year in August from 1.88% in July.
  • The United Nations Conference on Trade and Development (UNCTAD) expects India’s economy to expand 6.7% in 2017, down from 7% in 2016, due to demonetisation and the introduction of the GST.
  • The Income Tax Department & the Ministry Of Corporate Affairs (MCA) sign a pact to regularly share data, including PAN and audit reports of firms, to crack down on shell companies.
  • TRAI is looking at a robust mechanism to end pesky calls and messages.
  • SEBI raises several observations on HDFC Standard Life IPO. SEBI sought clarification on risks, ESOP policy etc.
  • Life insurers registered a growth of 22.60% in new premium at Rs. 17513.44 crore for August this fiscal.
  • India’s consumer price index (CPI)-based inflation for the month of August stood at 3.36%, compared with 2.36% in July.
  • India’s index of industrial production grew by 1.20% in July as against a contraction of 0.1% in June.
  • The Centre approves an amendment bill that seeks to double tax-free gratuity for formal sector employees to Rs. 20 lakh.
  • The Ministry of Corporate Affairs has identified 106,578 directors of shell companies to be disqualified in a move to strengthen its battle against shell companies.
  • The Cabinet Committee on Economic Affairs (CCEA) approved a Dairy Processing and Infrastructure Development Fund with an outlay of Rs. 10,881 crore for 2017-18 to 2028-29 to boost the dairy sector.
  • Union Cabinet approves an additional 1% dearness allowance (DA) for central government employees.
  • Government is exploring the sale of capitalisation bonds to meet capital requirements of public sector banks.
  • NSE has decided to extend the deadline for submission of annual returns for fiscal 2016-17 by trading members to 31st October.
  • SEBI is looking to cut the role of stock brokers in handling client money.
  • SEBI could soon allow entry of mutual funds & portfolio management services into Commodity Derivatives Market.
  • SEBI advisory committee to discuss trading hours extension today.
  • SEBI is to reduce mutual funds scheme by half.
  • The government is planning to make it mandatory for unlisted companies to dematerialise their shares as part of broader crack down on black money.
  • SEBI has proposed compulsory physical settlement in stock derivatives contracts.
  • Employees Provident Fund Organisation (EPFO) is likely to pump in Rs. 250-300 billion in equities in 2017-18 with Rs. 57 billion already invested this year so far.
  • RBI committee has proposed uniformity in guidelines for advisors across all financial products. The committee wants advisors to offer all the financial products such as insurance, mutual funds, NPS & Alternative Investment Funds with a single license.
  • Government waives off the penalty of Rs. 200 per day for taxpayers who failed to file the first GST returns within the deadline.

Leave a Reply

Your email address will not be published. Required fields are marked *