* AVIATION: Competition commission of India will examine issue of domestic airlines almost simultaneously hiking fares by 25-30%.
* BANKING: RBI is relooking at norms on issuance of non-convertible debentures by non-banking financial companies.
* CONSUMER GOODS: Kyndal India Pvt Ltd, importer and manufacturer of premium spirits in India , has formed an equal joint venture, Terra Inc, with Bangalore-based JP Group to market their portfolio of spirits in rural areas.
- Amway India to focus on 38 bln rupees men's grooming products market. Tobacco companies in India may face steeper taxes with the government planning measures in response to the World Health Organisation seeking a 30% reduction in tobacco prevalence in the country by 2025.
* ECONOMY: Rating agency CRISIL has cut its growth forecast for India 's 2013-14 (Apr-Mar) gross domestic product to 4.8% from 5.5%, while it raised its forecast for agricultural sector growth to 4.5% from 3.5%.
* ENERGY: Supreme Court has asked the government to clarify on its powers, functions and role in allocation of coal blocks. Power ministry has sought a subsidy of over 243 bln rupees to help fuel-starved power plants use costly imported liquefied natural gas The move will help plants of NTPC, Essar Power, RELIANCE POWER, LANCO INFRATECH, GMR Energy, GVK, TORRENT POWER and other firms to run their stranded plants optimally.
* GOVERNMENT: Gujarat government signed memorandums of understanding with companies such as MARUTI SUZUKI INDIA, HERO MOTO CORP, Siemens Software Company, LARSEN & TOUBRO and Tata Group for setting up of five centres of excellence in engineering. India extended a $144 mln line of credit to Liberia to fund a power transmission and distribution project, and inked an energy pact with the country.
* HOUSING: The National Housing Bank has capped lending rates for specialist mortgage lenders which seek refinance from it. Rates capped at 10.75% on home loans for the economically weaker sections.
* INFRASTUCTURE: Government has cleared a raft of projects worth 1.2 trillion rupees under the Delhi-Mumbai Industrial Corridor project as part of its initiative to spur manufacturing in the country.
* REGULATORS: RBI is considering accepting the Malegam Committee's recommendation, and recognising a self-regulatory organisation for the micro
finance sector.
- RBI will subscribe to $4 bln bond of International Bank for Reconstruction and Development, an arm of World Bank. Finance ministry is favouring making the Forward Markets Commission a division of the Securities and Exchange Board of India.
* SHIPPING: Visakhapatnam port plans to spend 45 bln rupees to expand cargo handling capacity from the existing 65 mtpa to 110 mtpa by 2015-16.
* TELECOM: Samsung India Electronics is eyeing 4 bln rupees from consumer electronic products and home appliances sales from east India in Sep-Nov. The existing regulatory framework of the telecom sector is likely to witness a major overhaul as the government intends to bring in changes in the existing rules and regulations for levying penalties on companies. -Polycom Inc, which provides unified communications and collaboration solutions, is in talks with telecom operators in India to offer video-to-video services using its RealPresence CloudAxis Suite. Reliance Jio Infocom could bid aggressively for airwaves in the 900 Mhz band for the Delhi , Mumbai and Kolkata circles in upcoming auctions, spurred by the telecom regulator's proposal for a 60% cut in base prices of this bandwidth, say analysts.
* OIL AND GAS: Union Cabinet is expected to approve the winding-up of Petronet India Ltd, the financial holding company promoted by INDIAN OIL CORP, HINDUSTAN PETROLEUM CORP, and BHARAT PETROLEUM CORPORATION.
* BANKING: RBI is relooking at norms on issuance of non-convertible debentures by non-banking financial companies.
* CONSUMER GOODS: Kyndal India Pvt Ltd, importer and manufacturer of premium spirits in India , has formed an equal joint venture, Terra Inc, with Bangalore-based JP Group to market their portfolio of spirits in rural areas.
- Amway India to focus on 38 bln rupees men's grooming products market. Tobacco companies in India may face steeper taxes with the government planning measures in response to the World Health Organisation seeking a 30% reduction in tobacco prevalence in the country by 2025.
* ECONOMY: Rating agency CRISIL has cut its growth forecast for India 's 2013-14 (Apr-Mar) gross domestic product to 4.8% from 5.5%, while it raised its forecast for agricultural sector growth to 4.5% from 3.5%.
* ENERGY: Supreme Court has asked the government to clarify on its powers, functions and role in allocation of coal blocks. Power ministry has sought a subsidy of over 243 bln rupees to help fuel-starved power plants use costly imported liquefied natural gas The move will help plants of NTPC, Essar Power, RELIANCE POWER, LANCO INFRATECH, GMR Energy, GVK, TORRENT POWER and other firms to run their stranded plants optimally.
* GOVERNMENT: Gujarat government signed memorandums of understanding with companies such as MARUTI SUZUKI INDIA, HERO MOTO CORP, Siemens Software Company, LARSEN & TOUBRO and Tata Group for setting up of five centres of excellence in engineering. India extended a $144 mln line of credit to Liberia to fund a power transmission and distribution project, and inked an energy pact with the country.
* HOUSING: The National Housing Bank has capped lending rates for specialist mortgage lenders which seek refinance from it. Rates capped at 10.75% on home loans for the economically weaker sections.
* INFRASTUCTURE: Government has cleared a raft of projects worth 1.2 trillion rupees under the Delhi-Mumbai Industrial Corridor project as part of its initiative to spur manufacturing in the country.
* REGULATORS: RBI is considering accepting the Malegam Committee's recommendation, and recognising a self-regulatory organisation for the micro
finance sector.
- RBI will subscribe to $4 bln bond of International Bank for Reconstruction and Development, an arm of World Bank. Finance ministry is favouring making the Forward Markets Commission a division of the Securities and Exchange Board of India.
* SHIPPING: Visakhapatnam port plans to spend 45 bln rupees to expand cargo handling capacity from the existing 65 mtpa to 110 mtpa by 2015-16.
* TELECOM: Samsung India Electronics is eyeing 4 bln rupees from consumer electronic products and home appliances sales from east India in Sep-Nov. The existing regulatory framework of the telecom sector is likely to witness a major overhaul as the government intends to bring in changes in the existing rules and regulations for levying penalties on companies. -Polycom Inc, which provides unified communications and collaboration solutions, is in talks with telecom operators in India to offer video-to-video services using its RealPresence CloudAxis Suite. Reliance Jio Infocom could bid aggressively for airwaves in the 900 Mhz band for the Delhi , Mumbai and Kolkata circles in upcoming auctions, spurred by the telecom regulator's proposal for a 60% cut in base prices of this bandwidth, say analysts.
* OIL AND GAS: Union Cabinet is expected to approve the winding-up of Petronet India Ltd, the financial holding company promoted by INDIAN OIL CORP, HINDUSTAN PETROLEUM CORP, and BHARAT PETROLEUM CORPORATION.
