Sebi working on framework to regulate bitcoin market
India’s market regulator is planning a framework to regulate the country’s bitcoin market, said three persons with direct knowledge of the matter. They declined to be named. In its first meeting on 19 September, the Securities and Exchange Board of India’s (Sebi) recently formed committee on financial and regulatory technologies (CFRT) concluded that it may be crucial to regulate bitcoin transactions to ensure that India’s public issue norms are not breached. The Sebi panel also intends to ensure that bitcoins, its derivatives, or any other cryptocurrency are not being used as a medium for funding illegal activities and no entity is able to divert black money through the virtual currency market.
SBI looks to name IRPs for NPA accounts on RBI’s second defaulter list
State Bank of India (SBI) is seeking to select insolvency resolution professionals for the second list of firms identified by the Reserve Bank of India (RBI) for bankruptcy proceedings, two people in the know said. As a first step, SBI has sought resolution professionals for a few firms, including Coastal Projects Ltd, IVRCL Ltd, SEL Manufacturing Co. Ltd, Shakti Bhog Foods Ltd and Monnet Power Ltd, the two said, requesting anonymity. Bankers decided to proceed with insolvency proceedings against some of these firms after they found they failed to meet investment grade rating, according to one of the two people.
RBI increases foreign investment limit in govt securities
The Reserve Bank of India today raised investment by foreign portfolio investors (FPI) in government securities medium term framework. Limit for investment by FPIs for quarter Oct-Dec 2017 has been increased by Rs 8,000 crore in central government securities and Rs 6,200 crore in state development loans.
Reliance Jio rampage: Bharti Airtel, Vodafone, others to take longer time to recover from setback, says Icra
Stabilisation for telecom is still some distance away and the battered sector needs an investment of over Rs 50,000 crore annually, says a report.In a note released after a year of the deep-pocketed Reliance Jio’s launch, domestic ratings agency Icra today said the troubles of the industry are far from over and “stabilisation (is) still some time away”.
Govt plans to borrow Rs 2.08 lakh cr in second half; will meet fiscal deficit target: Economic Affairs Secretary
Government plans to borrow Rs 2.08 lakh crore in second half of current fiscal, said Economic Affairs Secretary Subhash Chandra Garg today. The EAS added that “CPSE capex of Rs 3.75 lakh cr will stay as per plan, while authorities like NHAI will make additional spending of Rs 25,000 cr.” Garg said that discussions with RBI for additional dividend will continue and reiterated that he was confident of meeting fiscal deficit target.
Aviation regulator gets strict, flights not ready to take off on time may get delayed indefinitely
Airlines not preparing their aircraft to take off on time now risk getting such flights delayed indefinitely. Directorate General of Civil Aviation has told airports that if a flight crew does not initiate push back to begin taxiing to the runway within five minutes of air traffic control allowing them to do so, such a flight should be allowed to take off only when some slot is free. The idea is to push airlines to be more punctual by doing whatever is in their control. Issues like air traffic congestion, which cause most delays in choked airports like Delhi and Mumbai, are beyond the control of airlines and a result of crippling airport infra shortage.
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