( above Figs at 7 am)
10 year US @ 2.466%
INR @ 68.04/$
10 year G Sec 2026@ 6.402%.
1. Wary SBI may Play Safe with Troubled Borrowers.IDBI ARRESTS FALLOUT SBI says future restructuring of corporate loans to be decided through proceedings under bankruptcy code.
2. A clean energy company promoted by India's first Formula One driver Narain Karthikeyan and his family is in talks to buy the wind power generation business of Inox Group for an enterprise value of Rs 1,200 crore to consolidate, scale up and aid its own fund-raising efforts, said people directly involved in the negotiations.
3. Indian entities have raised a record $3.3 billion so far this month, making it the best January for raising foreign currency debt as overseas investors poured in money noting the country's stable economic standing in the emerging market universe.
4. GAAR: No Clarity on `Grandfathering' for Bonus Shares. CLARIFICATIONS NEEDED on Mauritius, S'pore treaties for bonus or convertible shares.
5. RBI may Lift Cash Withdrawal Caps; Govt Could Scuttle Plan. CONFUSION OVER MONEY POSITION Restrictions may stay till assembly elections in 5 states are over.
6. Currency in Circulation 45% Short of Pre-DeMo Levels. Although new currency printed may have crossed Rs 10 lakh crore, the overall cap may be retained at less than 10% of GDP, say SBI analysts.
7. Budget 2017 - Telecom Cos Want Clarity on Tax Treatment of Spectrum Payments. Want clarification so that they continue to get tax benefits linked to depreciation.
8. States Asked for Monthly Data on Factory Output. State-level Indices of Industrial Production to be based on the revised base of 2011-12.
1. In another attempt to recover its outstanding dues of Rs 7,400 crore, a consortium of eight banks, led by State Bank of India (SBI) has urged the Supreme Court to implead it as a party in the mining case related to Jindal Steel and Power (JSPL).
2. After Rs 12,300 cr investment for expansion, Rashtriya Ispat Nigam honcho P Madhusudan says eyeing another Rs 22,000 cr investment.
3. Several real estate companies in Mumbai have managed to raise Rs 3,400 crore in the past two months, following demonetisation, which shows that there is not enough pressure on funding.
4. The Reserve Bank is expected to extend the deadline for asset quality review (AQR) of lenders by a few months because of the unusual situation in the financial sector following demonetisation.
5. India's foreign exchange reserves went up marginally to $360.77 billion as on January 20, 2017, the Reserve Bank of India (RBI) said.
1. Tata Tele was on verge of filing for bankruptcy: Mistry. But merger with DoCoMo seemed a better option.
2. Budget: Railways banks on FinMin for relief from subsidy burden, pension outgo. Call to link passenger fares to Weighted Average Cost Index for revenue generation.
3. The government is exploring options to insure money in mobile wallets similar to how banks offer insurance on savings accounts.
4. The Indian government is now strongly pursuing a tax information exchange agreement (TIEA) with Panama, official sources said.
5. Robots may soon take over millions of jobs in ASEAN, reveals ILO study. Urges stakeholders to prepare and adapt to changes.
1. Macquarie, Abu Dhabi sovereign fund join race for Indian malls. The valuation of malls has gone up because investors are pricing them at 7-8% yields.
2. FM may have to budget for lower PSU dividends. Cash reserves down 34% since March 2014 after they stepped up payouts.
3. R-Infra looks for refinance options on Mumbai Metro. Project cost during its development stage surged to Rs 4,026 cr, of which debt is around Rs 1,900 cr.
4. Defence sector seeks tax rationalisation, policy clarity. Small industry is worst affected, since cash-flow is a problem for many.
5. Paytm becomes case study for Harvard Business School.Study based on Paytm's journey from online recharge platform to India's largest mobile payments one.
1. DCB Bank to raise up to Rs 400 crore in H2 of next fiscal year. Promoters Aga Khan Fund for Economic Development and Platinum Jubilee Investments to reduce holding in DCB Bank to 15% from the present 16.21% during the next financial year.
2. Reliance AIF to raise Rs 1,000 crore office fund. Reliance AIF is looking at investing in high-quality assets in key cities that will generate regular rental income, capital appreciation on exiting the property.
3. India’s microfinance industry showing signs of overheating, again. Around 1.26 million microfinance borrowers with top-up loans have an average loan exposure of Rs 45,400, much higher than the national average of Rs 22,000.
4. Donald Trump’s immigration ban sees global backlash—from Germany to Google.Germany’s Angela Merkel, and her counterparts in Canada, UK say won’t change immigration policy, Google advises staff to return to the US immediately.
5. Govt mulls introducing fixed-cost component in renewable energy tariff.The idea is to prevent power discoms from shying away from procuring electricity generated by such solar power and wind power projects