Government sets up panel to look into e-commerce issues
According to an official, with concerns being raised on some proposals of the draft e-commerce policy, the government has set up a group of secretaries to look into the issues.
Allow NRIs to manage FPI : panel
A SEBI panel headed by H. R. Khan, Former Deputy Governor of the RBI, has suggested that NRIs, along with Overseas Citizens of India (OCI) and Resident Indians (RIs), be allowed to manage foreign funds that invest in India subject to certain holding limits.
First quarter CAD at 2.4% of GDP
As per the data released by RBI, India’s current account deficit (CAD) stood at $15.8 billion (2.4 per cent of GDP) in the June quarter of 2018-19 compared with $15 billion (2.5 per cent of GDP) in the same period of last year.
FPIs start process of falling in line
Almost a dozen foreign funds across geographies such as Singapore, Mauritius and the U.S., which invest in the Indian equity markets, have started restructuring their ownership and management structure to comply with the Securities and Exchange Board of India’s (SEBI) diktat that bars Non-Resident Indians (NRIs), among others, from acting as fund managers of foreign portfolio investors (FPIs).
EVs, CNG vehicles don’t need permits
The government has decided to exempt electric vehicles (EVs) and automobiles run on alternative fuel from permit requirements in a bid to boost such vehicles in the country.
Services sector activity softens in August : Nikkei
As per a monthy survey, India’s services sector activity fell in August from July’s 21-month peak as new business orders declined, following which firms raised their staffing levels at a modest pace amid rising input cost inflation.
No construction if no solid waste management policy
The court ordered construction activities to be stopped in some States and Union Territories that remained unmindful of the interests of their people to live in a clean environment.
Manufacturing activity down for 2nd straight month
As per the Nikkei survey, India’s manufacturing sector activity eased for the second consecutive month in August, mainly on account of slower gains in output and decline in fresh orders
RBI tightens ombudsman scheme
The Reserve Bank of India has tightened the banking ombudsman scheme with the objective to strengthen the grievance redressal mechanism for customers.
GDP grows 8.2% in April-June
According to the government data released, the Indian economy grew at 15-quarter high of 8.2 per cent in the April-June quarter of current fiscal.