* AUTO: The finance ministry is seeking to avoid any "undue harassment" to auto companies that have sold cars at a discount, resulting in less revenue for the government.
* AVIATION: The Reserve Bank of India has allowed civil aviation companies to borrow funds through the external commercial borrowing route for working capital needs until Dec 31. The civil aviation ministry has objected to the large presence of foreign nationals or nominees of Etihad on the key boards and committees of Jet Airways.
- AirAsia founder Tony Fernandes is likely to meet chief ministers of few states and union ministers next week to garner support for his venture in India .
* BANKING: The Spice Group is keen to apply for a banking licence in India and is in talks with an unnamed bank in Singapore to offer a stake in the venture if it manages to get an approval from the RBI.
* CORPORATE: The RBI has allowed companies to buyback and prepays foreign currency convertible bonds under the approval route until Dec 31. The RBI has discontinued a scheme under which infrastructure companies could raise up to $1 bln annually via renminbi-denominated external commercial borrowings as the facility was unused so far.
- Finance Minister P. Chidambaram has said the government will revise Foreign Direct Investment cap in various sectors by the third week of July.
* MARKETS: The finance minister said has said there is no need for pessimism in the economy, and assured that investments would flow back into India . The Securities and Exchange Board of India has disposed of a case against Citigroup Global Markets Mauritius alleging violation of takeover regulations and insider trading norms while buying shares of CAIRN INDIA in 2012.
* INFORMATION TECHNOLOGY: Partners Group has bought a majority stake in CSS Corp for $270 mln, or 16.11 bln rupees.
* MEDIA: Telecom Regulatory Authority of India has extended the deadline for the receipt of cable television user data to Jul 10.
* MUTUAL FUNDS: The SEBI has approved a single self-regulatory organization for distributors of mutual fund products.
* PHARMACEUTICALS: The government is likely to come up with clarifications on the foreign direct investment policy in the pharmaceuticals sector before Jul 5.
- National Pharmaceutical Pricing Authority has notified revised ceiling prices for a second batch of drugs categorised under national list of essential medicines. Merck & Co's India unit won an injunction against Aprica Pharmaceuticals, which will stop it from launching generics of two diabetes drugs.
* REGULATORS: The SEBI has decided to increase the amount companies have to spend on buying back shares to 50% of funds earmarked from 25% now, and also to halve the period of a buyback programme to six months from one year.
- The SEBI plans to rationalise foreign investment routes by merging various routes into one, and will also do away with the requirement of prior direct registration of such investors with the regulator.
- The SEBI has decided to tighten the norms for preferential issue of shares by making it mandatory for companies to disclose the beneficial owners of the shares.
- Capital market regulator SEBI has allowed start-ups to get listed on the bourses without making initial public offering.
* TELECOM: The RBI has allowed telecom companies to refinance outstanding rupee loans taken for buying 3G spectrum through external commercial borrowings until Mar 31.
* TRADE: From Jul 1, there will be round-the-clock clearance for export goods at major air cargo complexes and airports.
* AVIATION: The Reserve Bank of India has allowed civil aviation companies to borrow funds through the external commercial borrowing route for working capital needs until Dec 31. The civil aviation ministry has objected to the large presence of foreign nationals or nominees of Etihad on the key boards and committees of Jet Airways.
- AirAsia founder Tony Fernandes is likely to meet chief ministers of few states and union ministers next week to garner support for his venture in India .
* BANKING: The Spice Group is keen to apply for a banking licence in India and is in talks with an unnamed bank in Singapore to offer a stake in the venture if it manages to get an approval from the RBI.
* CORPORATE: The RBI has allowed companies to buyback and prepays foreign currency convertible bonds under the approval route until Dec 31. The RBI has discontinued a scheme under which infrastructure companies could raise up to $1 bln annually via renminbi-denominated external commercial borrowings as the facility was unused so far.
- Finance Minister P. Chidambaram has said the government will revise Foreign Direct Investment cap in various sectors by the third week of July.
* MARKETS: The finance minister said has said there is no need for pessimism in the economy, and assured that investments would flow back into India . The Securities and Exchange Board of India has disposed of a case against Citigroup Global Markets Mauritius alleging violation of takeover regulations and insider trading norms while buying shares of CAIRN INDIA in 2012.
* INFORMATION TECHNOLOGY: Partners Group has bought a majority stake in CSS Corp for $270 mln, or 16.11 bln rupees.
* MEDIA: Telecom Regulatory Authority of India has extended the deadline for the receipt of cable television user data to Jul 10.
* MUTUAL FUNDS: The SEBI has approved a single self-regulatory organization for distributors of mutual fund products.
* PHARMACEUTICALS: The government is likely to come up with clarifications on the foreign direct investment policy in the pharmaceuticals sector before Jul 5.
- National Pharmaceutical Pricing Authority has notified revised ceiling prices for a second batch of drugs categorised under national list of essential medicines. Merck & Co's India unit won an injunction against Aprica Pharmaceuticals, which will stop it from launching generics of two diabetes drugs.
* REGULATORS: The SEBI has decided to increase the amount companies have to spend on buying back shares to 50% of funds earmarked from 25% now, and also to halve the period of a buyback programme to six months from one year.
- The SEBI plans to rationalise foreign investment routes by merging various routes into one, and will also do away with the requirement of prior direct registration of such investors with the regulator.
- The SEBI has decided to tighten the norms for preferential issue of shares by making it mandatory for companies to disclose the beneficial owners of the shares.
- Capital market regulator SEBI has allowed start-ups to get listed on the bourses without making initial public offering.
* TELECOM: The RBI has allowed telecom companies to refinance outstanding rupee loans taken for buying 3G spectrum through external commercial borrowings until Mar 31.
* TRADE: From Jul 1, there will be round-the-clock clearance for export goods at major air cargo complexes and airports.
