Daily Sector News Today – 17.08.2017

Daily Sector News Today – 17.08.2017

CLICK HERE




* AVIATION: The Directorate General of Civil Aviation has increased the notice
period for flight commanders to one year from six months with immediate effect, the
regulator said. Airlines will be able to set their own charges for all excess baggage after
the Delhi High Court set aside a government circular that had put a cap of 100 rupee per
kg on excess check-in baggage between 15 kg and 20 kg.
 -The government plans to wrap up disinvestment in Air India before the end of the
year and the preference is veering towards a "domestic buyer" for the airline.

* BANKING: The Securities and Exchange Board of India notified takeover norms to
ease the process for banks to rope in new investors for companies under strategic debt
restructuring. The Reserve Bank of India has asked banks to make Aadhaar-linkage
mandatory for availing of short-term crop loans in 2017-18 (Apr-Mar).

* COMMODITIES: The Karnataka government has sought permission from the
Supreme Court to redraw boundaries and merge C-category iron ore mines to make
them financially viable.

* CORPORATE: The board of Tata Sons under N. Chandrasekaran has ordered its
group companies to scrap all business dealings with Cyrus and Shapoor Mistry's S.P.
Group.

* ECONOMY: In a bid to speed-up the privatisation of public sector companies, the
Cabinet Committee on Economic Affairs has approved setting up a government panel to
decide on the terms of strategic disinvestment.
 The Cabinet has allowed National Bank for Agriculture and Rural Development to
raise 90.20 bln rupees in the current financial year started April through bond issuances.
 The Cabinet Committee on Economic Affairs has given an in-principle approval to
tax refunds under the goods and services tax for industrial units in hilly states till Mar
31, 2027.

* INSURANCE: Cigna TTK Health Insurance Co has filed an application with the
Insurance Regulatory and Development Authority of India to increase Cigna Corp's
stake in the joint venture to 49% from 26% now.

* OIL AND GAS: The price of petrol has been hiked by 10 paise per ltr for Thursday to
68.24 rupees a ltr, in Delhi.

* PHARMCEUTICALS: The National Pharmaceutical Pricing Authority has capped
the price for orthopaedic knee implants at 54,720-113,950 rupees with immediate
effect.

* POWER: Coal stocks at some private thermal power plants, which receive fuel from
Central Coalfield, have reached precarious levels as the latter is said to be supplying
more fuel to NTPC power plants, sources said. The GMR Group, which owns a 220-
MW gas-based power plant in Kakinada, will sell its barge-mounted power plant to a
buyer for $63 mln.

* TELECOMMUNICATION: The Telecom Regulatory Authority of India has released
draft rules to amend the current mechanism for mobile number portability.

* TOURISM: Foreign tourist arrivals in India rose 7.4% on year to 788,000 in July, the
tourism ministry said.