* AVIATION: The government has decided to allow airlines to charge a transaction fee but has insisted the amount be part of the airfare and not outside it. The government's plans to hand over operations of Chennai and Lucknow airports have generated interest from Tata group and Essar group. The government has put on hold fund infusion of equity of over 35.74 bln rupees in Air India .
* BANKING: The Reserve Bank of India has asked banks to "strictly desist" from any practice that would distort the interest rate structure of a product as this impairs the transparency of the pricing mechanism which is important for customers to take informed decision.
-The Reserve Bank of India today lowered the minimum maturity period to one year from three years on foreign exchange borrowings by banks, beyond 50% of their unimpaired Tier-I capital, to avail the central bank's swap facility.
- The Reserve Bank of India may be open to relaxing the initial equity capital requirement of 5 bln rupees for setting up a bank if it fails to find enough "fit and proper" candidates during the screening process. The Reserve Bank of India said banks must pass on benefits like discounts to consumers who take loans to buy products.
* CEMENT: Star Ferro and Cement would be listed on the National Stock Exchange and BSE in mid-October.
* COMPANIES: The government will rate non-profit organisations on their past performance, to help companies discharge their corporate social responsibility
under the Companies Act, 2013.
* CONSUMER GOODS: Reserve Bank of India has told banks to withdraw 0% interest rate schemes for purchase of consumer goods through credit cards.
* HOSPITALITY: A Blackstone group affiliate has agreed to buy 16 hotels from Hersha Hospitality Trust for $217 mln.
* INFORMATION TECHNOLOGY: NASSCOM has signed a memorandum of understanding with Japan 's Fujitsu Research Institute to promote co-operation in the area of IT and business process management services between India and Japan .
* INSURANCE: Reliance Life Insurance Co has launched life insurance policies in electronic dematerialised form across all its products.
* METALS: Calcutta High Court has temporarily barred Stemcor Holdings from selling its Indian assets, on a petition by ICICI BANK alleging that the assets have been given as collateral.
- The Reserve Bank of India said it is "closely and continuously" monitoring liquidity conditions in the banking system, and that it will take appropriate actions, including open market operations, to ensure adequate credit flow to productive sectors.
* MINING: The government began its submissions in the Goa iron ore mining case before the Supreme Court and conceded that there were some irregularities in
granting of environmental clearances to miners.
- The Supreme Court observed that it would examine if the government decisions in coal block awards were in conformity with the statutes even as the government counsel argued that mining laws were complied with in all allocations.
* PHARMACEUTICALS: The roadmap in formulating a strategy for the sector to provide affordable medicines is likely to be prepared by mid-2014.
* RAILWAYS: Department of industrial policy and promotion has circulated a cabinet note proposing 100% FDI in railway projects involving infrastructure development. Delhi Metro Rail Corp has asked the urban development ministry that the amount equal to termination payment it has to pay for the airport express line be given to it as an interest-free subordinate debt. Delhi Metro's third phase may see cost escalation by over 100 bln rupees.
* RETAIL: Alibaba Group Holding will pursue initial public offering in the US after talks with Hong Kong regulators broke down.
* TELECOM: The Telecom Regulatory Authority has released recommendations on "full mobile number portability" in the country whereby telecom service providers would be given six months to implement it. Micromax and Aircel have tied up to offer cheaper voice and internet services to users.
* BANKING: The Reserve Bank of India has asked banks to "strictly desist" from any practice that would distort the interest rate structure of a product as this impairs the transparency of the pricing mechanism which is important for customers to take informed decision.
-The Reserve Bank of India today lowered the minimum maturity period to one year from three years on foreign exchange borrowings by banks, beyond 50% of their unimpaired Tier-I capital, to avail the central bank's swap facility.
- The Reserve Bank of India may be open to relaxing the initial equity capital requirement of 5 bln rupees for setting up a bank if it fails to find enough "fit and proper" candidates during the screening process. The Reserve Bank of India said banks must pass on benefits like discounts to consumers who take loans to buy products.
* CEMENT: Star Ferro and Cement would be listed on the National Stock Exchange and BSE in mid-October.
* COMPANIES: The government will rate non-profit organisations on their past performance, to help companies discharge their corporate social responsibility
under the Companies Act, 2013.
* CONSUMER GOODS: Reserve Bank of India has told banks to withdraw 0% interest rate schemes for purchase of consumer goods through credit cards.
* HOSPITALITY: A Blackstone group affiliate has agreed to buy 16 hotels from Hersha Hospitality Trust for $217 mln.
* INFORMATION TECHNOLOGY: NASSCOM has signed a memorandum of understanding with Japan 's Fujitsu Research Institute to promote co-operation in the area of IT and business process management services between India and Japan .
* INSURANCE: Reliance Life Insurance Co has launched life insurance policies in electronic dematerialised form across all its products.
* METALS: Calcutta High Court has temporarily barred Stemcor Holdings from selling its Indian assets, on a petition by ICICI BANK alleging that the assets have been given as collateral.
- The Reserve Bank of India said it is "closely and continuously" monitoring liquidity conditions in the banking system, and that it will take appropriate actions, including open market operations, to ensure adequate credit flow to productive sectors.
* MINING: The government began its submissions in the Goa iron ore mining case before the Supreme Court and conceded that there were some irregularities in
granting of environmental clearances to miners.
- The Supreme Court observed that it would examine if the government decisions in coal block awards were in conformity with the statutes even as the government counsel argued that mining laws were complied with in all allocations.
* PHARMACEUTICALS: The roadmap in formulating a strategy for the sector to provide affordable medicines is likely to be prepared by mid-2014.
* RAILWAYS: Department of industrial policy and promotion has circulated a cabinet note proposing 100% FDI in railway projects involving infrastructure development. Delhi Metro Rail Corp has asked the urban development ministry that the amount equal to termination payment it has to pay for the airport express line be given to it as an interest-free subordinate debt. Delhi Metro's third phase may see cost escalation by over 100 bln rupees.
* RETAIL: Alibaba Group Holding will pursue initial public offering in the US after talks with Hong Kong regulators broke down.
* TELECOM: The Telecom Regulatory Authority has released recommendations on "full mobile number portability" in the country whereby telecom service providers would be given six months to implement it. Micromax and Aircel have tied up to offer cheaper voice and internet services to users.
