Today's Sector News - 21.11.2019: 09.00 Am
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* AUTOMOBILE: BMW India has started offering Bharat Stage-VI emission norm-compliant vehicles across its entire petrol portfolio, and the luxury carmaker is also on course to offer BS-VI ready diesel vehicles before the April deadline.
* AVIATION: The Directorate General of Civil Aviation has instructed officials to recuse from taking part in regulatory oversight of airlines, airports or companies where they faced conflict of interest.
* BANKING: Pramit Jhaveri, who was former chief executive of Citibank India, will retire from his current role as vice-president of banking, capital markets, and advisory for Asia Pacific at the end of this month.
* COMMODITIES: Sugar mills offered to supply 1.63 bln ltr of anhydrous denatured ethanol to oil marketing companies in the first round of bidding that ended on Oct 11, said an official at a leading mill based in Uttar Pradesh.
-The Cabinet has approved import of 120,000 tn onion to augment domestic supply and cool down
prices.
* INFORMATION TECHNOLOGY: There is no proposal under the government's consideration to link Aadhaar of citizens with social media accounts, Information Technology Minister Ravi Shankar Prasad informed the Lok Sabha.
-The government, under the BharatNet project, connected 140,668 gram panchayats with optical fibre
cable and 127,393 gram panchayats have been made service ready as on Nov 7, Minister of Communications and Information Technology Ravi Shankar Prasad informed the Lok Sabha.
* RAILWAYS: Indian Railways lost 789.51 bln rupees from 2015-16 (Apr-Mar) to 2017-18 on account of offering passenger services below cost of operations, Railways Minister Piyush Goyal said in a written response to Lok Sabha.
* REGULATORY: The Securities and Exchange Board of India on Wednesday cut the time taken to complete a rights share issue to 32 days, including the day of the transaction, from 56 days earlier.
-The Securities and Exchange Board of India on Wednesday issued stricter norms for portfolio
management services to reduce mis-selling of products and weeding out fly-by-night operators.
-SEBI has said the top 1,000 companies by market capitalisation must include business responsibility
reporting in their annual reports.
-The board of the Securities and Exchange Board of India has mandated all listed companies to
disclose any defaults in repayment of principal or interest on loans that continue beyond 30 days.
-SEBI Chairman Ajay Tyagi said the regulator perhaps needs to be "more muscular" to build market
participants' trust in the capital market watchdog.
-The Securities and Exchange Board of India has said it would summon the National Stock Exchange
over technical glitches on its platform.
* TAXATION: The Centre is yet to release the compensation amount due to states for August and September under the Goods and Services Tax, the empowered committee of state finance ministers said on Wednesday in a joint statement.
* TELECOMMUNICATION: The Cabinet Committee on Economic Affairs approved deferment of spectrum instalment payment by telecom companies for 2020-21 (Apr-Mar) and 2021-22 by two years in an effort to provide relief to a sector struggling with financial duress.
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