* AGRICULTURE: A report by a Reserve Bank of India committee said any relief to small farmers would be best carried out as a direct benefit transfer to their bank account, and not through interest subvention or debt waiver. The RBI-appointed panel has recommended that the Food Corp of India and state governments should use warehouse receipts to raise low cost funds in the market, instead of relying on bank credit.
* AUTOMOBILES: Honda Motor plans to roll out new cars based on the Brio platform from its second plant in Rajasthan next month.
* AVIATION: Air India is selling some of its airplanes, leasing a few and preparing to join the global grouping of airlines, Star Alliance in order to stay competitive. Air India is expected to post losses in the region on 39 bln rupees for 2013-14 (Apr-Mar). Airfares may drop for passengers from Mumbai due to higher handling capacity of new city terminal T2.
* BANKING: Banks' adjusted priority sector lending requirements should be increased to 50% from 40%, a Reserve Bank committee report said. A Reserve Bank of India panel has pushed for differential licensing of banks including wholesale banks, and wholesale investment bank, infrastructure bank and payments bank. An RBI committee said some convergence of non-banking finance companies and bank regulations was desirable. The RBI's Nachiket Mor-led committee has recommended that a bank account should be opened for every Indian resident at the time of receiving his or her Aadhaar number.
* CONSUMER DURABLES: Samsung Electronics Co posted its first profit decline in nine quarters.
* ECONOMY: The restrictions on gold imports should continue till the end of the current financial year, Economic Affairs Secretary Mayaram said. Finance Minister Chidambaram met heads of select state-run companies to review their capital expenditure and dividend payments in 2013-14 (Apr-Mar). The Department of Industrial Policy and Promotion has floated a discussion paper on foreign direct investment in business-to-consumer e-commerce. The government is likely to revive Specified Undertaking of Unit Trust of India to meet the year's fiscal deficit target.
* ENERGY: Coal ministry has de-allocated four coal blocks allotted to five companies, including BIRLA CORP, SUNFLAG IRON & STEEL, and Dalmia Cement (Bharat), for failure to develop the mines within deadline.
* FMCG: Le Groupe Lactalis of France will purchase Tirumala Milk Products for $275 mln. Nestle SA is seeking patent protection in various parts of the world for using an extract from kala jeera for treating or preventing food allergy.
* INFRASTRUCTURE: The road sector, under stress due to lack of private-sector participation, is likely to get a regulator next month.
* INSURANCE: Shriram Life Insurance Co expects its overall business to grow 5-10% in 2013-14 (Apr-Mar), Chief Executive Officer Jain said.
* INVESTMENT: Asia Healthcare Fund, floated jointly by Dabur group Chairman Anand Burman and former chief executive of Dabur Pharma Ajay Kumar Vij, and venture-capital companies Accel Partners and IDG Ventures, is close to investing 500 mln rupees in a Bengaluru-based medical devices start up, Forus Health.
* REGULATORY: Securities and Exchange Board of India has mandated trades in securitised debt instruments must be reported to stock exchanges within 15
minutes of transaction, with effect from Apr 1. SEBI has notified the framework for registration and procedures for foreign investors who propose to make portfolio investment in India .
* SUGAR: Co-operative sugar mills in Uttar Pradesh are planning to modernise their complexes by adding power cogeneration and ethanol plants.
* TAXATION: The Yash Birla Group came under the scanner of revenue authorities on Tuesday on suspicions of alleged tax evasion.
* TELECOM: Telecom Commission is expected to meet again later in the week to decide on spectrum usage charges. Cellular Operators Association of India and the Association on Unified Telecom Service Providers may come together to tackle the Delhi High Court's ruling permitting the government's auditor to examine the books of telecom operators.
* SCAM: The Mumbai police arrested Rakesh Dixit for his purported involvement in the transfer of dormant physical shares of ARSHIYA INTERNATIONAL, GLOBAL SECURITIES and DCW into bogus demat accounts by a gang of individuals.
* AUTOMOBILES: Honda Motor plans to roll out new cars based on the Brio platform from its second plant in Rajasthan next month.
* AVIATION: Air India is selling some of its airplanes, leasing a few and preparing to join the global grouping of airlines, Star Alliance in order to stay competitive. Air India is expected to post losses in the region on 39 bln rupees for 2013-14 (Apr-Mar). Airfares may drop for passengers from Mumbai due to higher handling capacity of new city terminal T2.
* BANKING: Banks' adjusted priority sector lending requirements should be increased to 50% from 40%, a Reserve Bank committee report said. A Reserve Bank of India panel has pushed for differential licensing of banks including wholesale banks, and wholesale investment bank, infrastructure bank and payments bank. An RBI committee said some convergence of non-banking finance companies and bank regulations was desirable. The RBI's Nachiket Mor-led committee has recommended that a bank account should be opened for every Indian resident at the time of receiving his or her Aadhaar number.
* CONSUMER DURABLES: Samsung Electronics Co posted its first profit decline in nine quarters.
* ECONOMY: The restrictions on gold imports should continue till the end of the current financial year, Economic Affairs Secretary Mayaram said. Finance Minister Chidambaram met heads of select state-run companies to review their capital expenditure and dividend payments in 2013-14 (Apr-Mar). The Department of Industrial Policy and Promotion has floated a discussion paper on foreign direct investment in business-to-consumer e-commerce. The government is likely to revive Specified Undertaking of Unit Trust of India to meet the year's fiscal deficit target.
* ENERGY: Coal ministry has de-allocated four coal blocks allotted to five companies, including BIRLA CORP, SUNFLAG IRON & STEEL, and Dalmia Cement (Bharat), for failure to develop the mines within deadline.
* FMCG: Le Groupe Lactalis of France will purchase Tirumala Milk Products for $275 mln. Nestle SA is seeking patent protection in various parts of the world for using an extract from kala jeera for treating or preventing food allergy.
* INFRASTRUCTURE: The road sector, under stress due to lack of private-sector participation, is likely to get a regulator next month.
* INSURANCE: Shriram Life Insurance Co expects its overall business to grow 5-10% in 2013-14 (Apr-Mar), Chief Executive Officer Jain said.
* INVESTMENT: Asia Healthcare Fund, floated jointly by Dabur group Chairman Anand Burman and former chief executive of Dabur Pharma Ajay Kumar Vij, and venture-capital companies Accel Partners and IDG Ventures, is close to investing 500 mln rupees in a Bengaluru-based medical devices start up, Forus Health.
* REGULATORY: Securities and Exchange Board of India has mandated trades in securitised debt instruments must be reported to stock exchanges within 15
minutes of transaction, with effect from Apr 1. SEBI has notified the framework for registration and procedures for foreign investors who propose to make portfolio investment in India .
* SUGAR: Co-operative sugar mills in Uttar Pradesh are planning to modernise their complexes by adding power cogeneration and ethanol plants.
* TAXATION: The Yash Birla Group came under the scanner of revenue authorities on Tuesday on suspicions of alleged tax evasion.
* TELECOM: Telecom Commission is expected to meet again later in the week to decide on spectrum usage charges. Cellular Operators Association of India and the Association on Unified Telecom Service Providers may come together to tackle the Delhi High Court's ruling permitting the government's auditor to examine the books of telecom operators.
* SCAM: The Mumbai police arrested Rakesh Dixit for his purported involvement in the transfer of dormant physical shares of ARSHIYA INTERNATIONAL, GLOBAL SECURITIES and DCW into bogus demat accounts by a gang of individuals.
