Daily Sector News Today – 26.09.2017
*AVIATION: To ensure Air India does not run out of cash before it is sold off, the government has
ensured that it gets a loan of up to 60 bln rupees to meet expenses.
* BANKING: The Reserve Bank of India has revised norms for banks' investment in financial and nonfinancial entities and included capital conservation buffer to prescribed capital requirements for
lenders. RBI also notified that banks can invest up to 10% of their net worth in units of a real estate or infrastructure investment trust.
* COMMODITY: RBI has notified norms for banks providing broking services for commodities through a separate subsidiary along with functioning as professional clearing members for commodity derivatives on Indian bourses. Thomson Reuters in association with the MULTI COMMODITY EXCHANGE OF INDIA will launch a firstof-its-kind benchmark commodity indices today.
* CORPORATE: ABB Group will acquire Atlanta-based GE Industrial Solutions for $2.6 bln with an aim to expand its presence in the north American market.
* ECONOMY: The central government will raise 150 bln rupees through the auction of four dated
securities on Friday. Prime Minister Narendra Modi has constituted a five-member Economic
Advisory Council to address "issues of macroeconomic importance".
* EXCHANGES: The Securities and Exchange Board of India has relaxed the guidelines for enhanced supervision of stock brokers and depository participants.
* INFRASTRUCTURE: Road Transport and Highways Minister Nitin Gadkari will inaugurate national highway projects worth 44.7 bln rupees in Andhra Pradesh on Oct 3.
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ensured that it gets a loan of up to 60 bln rupees to meet expenses.
* BANKING: The Reserve Bank of India has revised norms for banks' investment in financial and nonfinancial entities and included capital conservation buffer to prescribed capital requirements for
lenders. RBI also notified that banks can invest up to 10% of their net worth in units of a real estate or infrastructure investment trust.
* COMMODITY: RBI has notified norms for banks providing broking services for commodities through a separate subsidiary along with functioning as professional clearing members for commodity derivatives on Indian bourses. Thomson Reuters in association with the MULTI COMMODITY EXCHANGE OF INDIA will launch a firstof-its-kind benchmark commodity indices today.
* CORPORATE: ABB Group will acquire Atlanta-based GE Industrial Solutions for $2.6 bln with an aim to expand its presence in the north American market.
* ECONOMY: The central government will raise 150 bln rupees through the auction of four dated
securities on Friday. Prime Minister Narendra Modi has constituted a five-member Economic
Advisory Council to address "issues of macroeconomic importance".
* EXCHANGES: The Securities and Exchange Board of India has relaxed the guidelines for enhanced supervision of stock brokers and depository participants.
* INFRASTRUCTURE: Road Transport and Highways Minister Nitin Gadkari will inaugurate national highway projects worth 44.7 bln rupees in Andhra Pradesh on Oct 3.
