* AUTOMOBILES: Volkswagen India has introduced an offer in which customers can buy a Polo hatchback or a Vento sedan by paying only 20% of the amount upfront, and the remainder in equated monthly instalments.
* AVIATION: With the largest chunk of growth coming from Asia , Singapore Airlines said it is considering adding more flights in the Indian market.
* BANKING: In an attempt to ease the mounting pressure on the rupee against the dollar, the Reserve Bank of India today directed state-owned oil marketing companies to route their dollar purchases through a single public sector bank a day. The Reserve Bank of India has emphasised that banks must proactively take steps to open more Aadhaar-linked bank accounts to facilitate direct benefit transfer to beneficiaries in selected districts. The Export-Import Bank of India extended three lines of credit worth $216 mln to the Government of Mozambique for social and infrastructure projects.
* COAL: Maharashtra power generation company Mahagenco has been allocated the Kamptee coal field in Nagpur for captive mining.
* ECONOMY: Stressing the need to remove bottlenecks in manufacturing in order to boost economic growth, Prime Minister Manmohan Singh has asked for ramping up the output in steel and textile sectors.
* ENERGY: Oil marketing companies are likely to issue a tender in 1-2 months to procure ethanol in the next sugar marketing year starting October, a trade source said.
* INVESTMENT: US private equity fund Kohlberg Kravis Robert & Co has raised $6 bln in its Asian II Fund, most of which could be invested in Indian companies, signalling large private equity interest in India despite slowing economy and rupee fall.
* MINING: The Odisha government is readying to withdraw the notification for standalone mining companies to sell at least half their extract ore to industries in the state.
* PHARMACEUTICAL: The Drug Technical Advisory Board is likely to meet on Jul 19 to review the recent suspension of manufacturing and selling of three widely prescribed medicines in India .
* RAILWAYS: Freight traffic carried by the state-owned Indian Railways rose 4.9% on year to 256.79 mln tn in Apr-Jun.
* REAL ESTATE: ASK Property Investment Advisors, the real estate private equity arm of ASK group, said it will invest 1.47 bln rupees in a residential project in Gurgaon being developed by the ATS group.
* REGULATORY: Clients of trading members and non-bank trading members holding open positions in dollar/rupee contracts in excess of the caps detailed by the SEBI on Monday can hold onto their positions until Jul 29. SEBI has said investment by foreign institutional investors in security receipts issued by asset reconstruction companies will be within the overall FII investment limit for corporate bonds. The Securities and Exchange Board of India has ordered Kolkata-based Sumangal Industries Ltd to wind up its collective investment scheme and to refund money collected along with returns that are due to investors within
three months.
- The latest notification by the RBI on foreign direct investment guidelines would have a bearing on the Enforcement Directorate probe into $100 mln investments made by US retail chain Walmart in a group company of Bharti in 2010.
* STEEL: The government will float project-specific special purpose vehicles that will tie up necessary approvals, land and raw material for identified sites to set up steel projects, according to a statement from the Prime Minister's Office.
* TAXATION: The Indian government's net direct tax collections in Apr-Jun rose almost at half the pace of gross collections because of a sharp rise in refunds. India Apr-Jun net direct tax mop-up stood at 897 bln rupees, up 6.4% on year.
* TELECOM: The Department of Telecommunications has disagreed with a few points of a recent draft audit report by the Director General of Audit, which said the government could have lost a few thousands of crores of rupees revenue towards spectrum usage charges during the past five years.
* AVIATION: With the largest chunk of growth coming from Asia , Singapore Airlines said it is considering adding more flights in the Indian market.
* BANKING: In an attempt to ease the mounting pressure on the rupee against the dollar, the Reserve Bank of India today directed state-owned oil marketing companies to route their dollar purchases through a single public sector bank a day. The Reserve Bank of India has emphasised that banks must proactively take steps to open more Aadhaar-linked bank accounts to facilitate direct benefit transfer to beneficiaries in selected districts. The Export-Import Bank of India extended three lines of credit worth $216 mln to the Government of Mozambique for social and infrastructure projects.
* COAL: Maharashtra power generation company Mahagenco has been allocated the Kamptee coal field in Nagpur for captive mining.
* ECONOMY: Stressing the need to remove bottlenecks in manufacturing in order to boost economic growth, Prime Minister Manmohan Singh has asked for ramping up the output in steel and textile sectors.
* ENERGY: Oil marketing companies are likely to issue a tender in 1-2 months to procure ethanol in the next sugar marketing year starting October, a trade source said.
* INVESTMENT: US private equity fund Kohlberg Kravis Robert & Co has raised $6 bln in its Asian II Fund, most of which could be invested in Indian companies, signalling large private equity interest in India despite slowing economy and rupee fall.
* MINING: The Odisha government is readying to withdraw the notification for standalone mining companies to sell at least half their extract ore to industries in the state.
* PHARMACEUTICAL: The Drug Technical Advisory Board is likely to meet on Jul 19 to review the recent suspension of manufacturing and selling of three widely prescribed medicines in India .
* RAILWAYS: Freight traffic carried by the state-owned Indian Railways rose 4.9% on year to 256.79 mln tn in Apr-Jun.
* REAL ESTATE: ASK Property Investment Advisors, the real estate private equity arm of ASK group, said it will invest 1.47 bln rupees in a residential project in Gurgaon being developed by the ATS group.
* REGULATORY: Clients of trading members and non-bank trading members holding open positions in dollar/rupee contracts in excess of the caps detailed by the SEBI on Monday can hold onto their positions until Jul 29. SEBI has said investment by foreign institutional investors in security receipts issued by asset reconstruction companies will be within the overall FII investment limit for corporate bonds. The Securities and Exchange Board of India has ordered Kolkata-based Sumangal Industries Ltd to wind up its collective investment scheme and to refund money collected along with returns that are due to investors within
three months.
- The latest notification by the RBI on foreign direct investment guidelines would have a bearing on the Enforcement Directorate probe into $100 mln investments made by US retail chain Walmart in a group company of Bharti in 2010.
* STEEL: The government will float project-specific special purpose vehicles that will tie up necessary approvals, land and raw material for identified sites to set up steel projects, according to a statement from the Prime Minister's Office.
* TAXATION: The Indian government's net direct tax collections in Apr-Jun rose almost at half the pace of gross collections because of a sharp rise in refunds. India Apr-Jun net direct tax mop-up stood at 897 bln rupees, up 6.4% on year.
* TELECOM: The Department of Telecommunications has disagreed with a few points of a recent draft audit report by the Director General of Audit, which said the government could have lost a few thousands of crores of rupees revenue towards spectrum usage charges during the past five years.
