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9 Aug
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
Read 3 tweets
8 Aug
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
Read 7 tweets
18 Jul
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

1/2
US State Dept had suspended the issuance of non-immigrant visas till December 31, 2020

2/2
Read 2 tweets
16 Jul
Massive inventory accumulation likely in China; will exert massive #disinflationary pressure globally: Jahangir Aziz of JP Morgan at NCAER Digital Dialogue

#COVID #inflation #China #growth
Jahangir Aziz, JP Morgan says, "Expect a very sharp recovery in 2021 but the level of #GDP will be 4% lower."
Read 2 tweets
18 Jun
#AGR case hearing begins at Supreme Court
#AGR Case | Solicitor General tells Supreme Court, since PSUs are not in the business of telecom services, we are withdrawing demands
PSU companies surge in trade as Govt withdraws #AGR dues demand
Read 24 tweets
11 Jun
#AGR Case Hearing | Justice Arun Mishra-led bench assembles for hearing
#AGR Case Hearing begins
#AGR Case Hearing | Solicitor General tells Supreme Court, Central Govt has examined the AGR issue
Read 28 tweets
26 Apr
#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
Read 4 tweets
27 Mar
#RBIActs ! @RBI CUTS REPO RATE BY 75 bps
#RBIActs | RBI’ MPC voted 4:2 to reduce policy repo rate by 75 bps to 4.4% & Reverse Repo rate cut by 90 bps to 4%
#RBIActs | @RBI Governor says outlook is now heavily contingent upon intensity, spread and duration of pandemic
Read 29 tweets
26 Mar
FM announces economic relief package. @nsitharaman says Package of Rs 1.7 lakh cr under the PM Gareeb Kalyan Scheme will immediately take care of poor

@COVID19 #CoronavirusOutbreak
#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
Read 10 tweets
19 Mar
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

#Covid19India #IndiaFightsCorona
Prime Minister @narendramodi says we should not be complacent about #Coronavirus; it is important that every individual is aware, alert w.r.t coronavirus

#Covid19India #IndiaFightsCorona
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

#Covid19India #IndiaFightsCorona
Read 9 tweets
31 Jan
#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
Read 4 tweets
30 Jul 19
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
@ShereenBhan @blitzkreigm @_anujsinghal @latha_venkatesh @CafeCoffeeDay As of March 2019, CCD had 1,752 cafes across India. CCD clocked revenue of Rs 1,777 cr & Rs 1,814 cr in FY18 & 19, respectively. Company is eyeing Rs 2,250 cr by March 2020
@ShereenBhan @blitzkreigm @_anujsinghal @latha_venkatesh @CafeCoffeeDay VG Siddhartha recently sold 20.32% stake in Mindtree Ltd to L&T at ₹980 a share. He currently holds 32.75% stake in Coffee Day
Read 12 tweets
25 Jul 19
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
Read 3 tweets
10 May 19
March Index of industrial production (IIP) comes at -0.1%
#BreakingNews
March #IIP contracts at -0.1% against 0.1% month-on-month
March #IIP data | Mining growth at 0.8% against 2% (MoM)
Read 11 tweets
14 Mar 19
#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
Read 9 tweets
30 Jan 19
#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
Read 10 tweets