Articles published in Times of India and Economic Times, Mumbai Edition dated 19.09.2019. Thursday
Dear all,
Your association SIMA is forwarding herewith articles published in Times of India and Economic Times, Mumbai Edition dated 19.09.2019.
1. Govt will reduce provisions to prosecute under Cos Act (Plans Settlement Mechanism To Ease Burden On Corporates) – Time of India
The government is all set to further reduce the provisions that attract prosecution for violation of the Companies Act, while looking to introduce a settlement mechanism and “deferred prosecution agreements” under the law to ease the burden on the corporate sector.
A committee headed by corporate affairs secretary Injeti Srinivas will examine various options, including the feasibility of “deferred prosecution agreements”. Government officials said, through the mechanism, a company can commit to take remedial measures to cure defaults within a specified timeframe and will only face prosecution in case it fails to deliver on its promise… TO READ THE FULL ARTICLE PLEASE CLICK HERE.
2. Investments in Manufacturing Sector Fell by 10.3% in FY18 (Fall sharper than 2.7% registered in FY17; No. of workers rises 60 lakh in FY18: ASI) – The Economic Times
Manufacturing sector investments declined 10.3% in 2017-18, sharper than the 2.7% fall registered in FY17, provisional data of Annual Survey of Industries (ASI) released on Wednesday showed.
ASI, the principal source of industrial statistics in India, is the most comprehensive data on organised manufacturing. Gross fixed capital formation (GFCF), as measured by the survey, was ₹3.31 lakh crore in 2017-18 compared with ₹3.69 crore in 2016-17... TO READ THE FULL ARTICLE PLEASE CLICK HERE.
3. RBI explores loan rate pricing for hsg fin cos (Regulator Has Asked Banks To Link Their Loan Rates To An External Benchmark) – Times of India
After forcing banks to link retail loans to an external benchmark, the RBI is looking at the way nonbanking finance companies (NBFCs) and mortgage companies price their products.
While an external benchmark might not be mandated for housing finance companies (HFCs), banking regulator wants to bring more transparency in their pricing. Meanwhile, the RBI is also not in favour of a combined fixed and floating home loan product, which SBI chairman Rajnish Kumar had recently spoken about.... TO READ THE FULL ARTICLE PLEASE CLICK HERE.
This is for your kind information
Thanking you,
With regards,
For Silvassa Industries & Manufacturers Association
Narendra Trivedi
Secretary
