Defence Ministry puts an import embargo on 101 items.
Here are the details announced by Defence Minister @rajnathsingh this morning:
The list of 101 embargoed items comprises of not just simple parts but also some high technology weapon systems like artillery guns, assault rifles, corvettes, sonar systems, transport aircrafts, LCHs, radars and many other items to fulfil the needs of our Defence Services.
The list of #embargoed items also includes, wheeled Armoured Fighting Vehicles (AFVs) with indicative import embargo date of December 2021, of which the Army is expected to contract almost 200 at an approximate cost of over Rs 5,000 crore. #AtmanirbharBharat
Imp: New RBI regimen on opening of current accounts & cash-credit accounts by cow. New rules likely to benefit corproate lenders like SBI, BOB, PNB,will take away CA float from banks like HDFC, ICICI, Axis which have good cash Mgmt products, but don’t lend to mid-corproates.1/7
Now banks can’t open current accounts for borrowers who have a cash credit account with any other bank.If borrowers don’t have any cash-credit account with any bank, they fall under 3 categories:
Those w/ under-5cr loans from banks: for these cos banks can open curr Acct 2/7
For Borrowers with 5-50 cr loans from banking system, only lending banks may open curr Acct., non lending banks may only open collection accts ie these accounts can receive money which have to be paid into the cash-credit Acct.3/7
US Govt carves out exception for spouses, children of H1B, L1, J1 visa holders. US Embassies & Consulates to issue H4, L2 & J2 visas if principal H1B visa holder is in US or has a valid H1B visa
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US State Dept had suspended the issuance of non-immigrant visas till December 31, 2020
Massive inventory accumulation likely in China; will exert massive #disinflationary pressure globally: Jahangir Aziz of JP Morgan at NCAER Digital Dialogue
#COVIDー19 Outbreak | IRS Officers body prepares strategy note F.O.R.C.E to mobilise revenue, revive economy, suggests raising highest slab rate to 40% for income above a minimum threshold of Rs 1 cr or re-introduction of wealth tax for those with net wealth of Rs 5 cr or more
IRS Officers body suggests an addl one-time cess of 4% in cases where the taxable income is greater than Rs 10 lk. Also companies undertaking COVID relief activities should be given tax incentive u/section 37 for FY21
IRS Officers body says companies can be allowed to contribute a portion of unspent CSR funds till FY20 to PM-CARES fund. A co can use 25% of unspent CSR for biz if 75% contributed to PM-CARES before June 30
#COVID2019India | Finance Minister also announcing an insurance cover for healthcare officials & employees
#COVID2019 | Announcing medical cover of Rs 50 Lakh/person for those who many term the 'gods in white' i.e. healthcare personnel, FM @nsitharaman tells the media #coronavirusOutbreak
Prime Minister Narendra Modi (@narendramodi) addresses the nation on #coronavirus situation. He says the world is going through a difficult time; the entire humankind is facing difficulties in today's times
Prime Minister @narendramodi says we should not be complacent about #Coronavirus; it is important that every individual is aware, alert w.r.t coronavirus
To deal with #coronavirus, no definite solution has been found, nor has any vaccine produced; science has not been able to find a remedy to save us from the virus: Prime Minister @narendramodi
#CNBCTV18Exclusive | Sanjeev Sanyal, Principal Eco Advisor To CNBC-TV18: We have been very apologetic about wealth creation for way too long. In the eco survey we have tried to make a case for markets, privatisation, entrepreneurship
@ShereenBhan@Sapna_CNBC#CNBCTV18Exclusive | Sanjeev Sanyal, Principal Eco Advisor To CNBC-TV18: India must seriously look at adopting bilateral netting laws. Large capital locked up in banking system that can be used elsewhere. Bilateral netting laws will open up locked capital, boost derivatives mkts
@ShereenBhan@Sapna_CNBC#CNBCTV18Exclusive | Sanjeev Sanyal, Principal Eco Advisor To CNBC-TV18: Made the case that we can allow the market to work when it comes to food prices. Essential commodities act does not always stabilise prices, it can exacerbate the problem
Café Coffee Day founder VG Siddhartha went missing last night. He reportedly got off from his vehicle near a bridge at 6 pm near Mangalore and has not been found since
Govt Official To CNBC-TV18: Road Min, @NITIAayog, @PMOIndia & @FinMinIndia to discuss auto sector slowdown; examine ways to arrest decline, provide support
@NITIAayog@PMOIndia@FinMinIndia@awnusharma Govt Official To CNBC-TV18: Govt to discuss proposal to lower GST on automobiles, other incentives to boost sales & may consider prioritising measures to tackle automobile sales slowdown over promoting EVs for now
@NITIAayog@PMOIndia@FinMinIndia@awnusharma Govt Official To CNBC-TV18: Scrappage policy seen as sales booster for automobiles, likely to come up soon; Govt may call meeting of stakeholders to discuss the automobile sales slowdown
#BREAKINGNEWS | 108 economists raise a voice against economic statistics in India; 108 economists & social scientists from across the world raise concern on data credibility
Economic Statistics In A Shambles | The appeal by 108 economists says economic statistics is a public good, vital necessity for policy-making in democracies & for informed public discourse
Economic Statistics In A Shambles | CSO’s revised FY17 GDP estimates appear at variance with evidence marshalled by economists; shot up to 8.2%, the highest in a decade
#3QWithCNBCTV18 | ICICI Bank to report its Q3 earnings today & analysts are expecting growth in net profit for the first time in 7 quarters. Here's more
#3QWithCNBCTV18 | Bajaj Auto expected to post weaker margin despite strong financials for Q3. Margin likely to be under pressure due to aggressive pricing in entry motorcycle segment
#3QWithCNBCTV18 | Here's what you can expect from NTPC's Q3 numbers today
