News for 15-10-2018

Here are the major News for 15-10-2018 compiled from various sources, simply click on the given link to read the respective news item. Please feel free to add your comments to indulge into meaningful discussions and debates on the topics:

The Hindu:
Government panel struggles to define ‘Shell companies’

Efforts are being made to define the Shell Companies to help the government agencies find such companies and take appropriate preventive actions. Attempts are being made to chart out defitions on the lines of definition given by the OECD.

Bonding in partnership, with Africa

China announced a USD 60 billion package for Africa during Forum on China-Africa Cooperation (FOCAC), signalling the importance of the continent for emerging economies like China, India and the like.

IL &FS: a riddle wrapped in mystery

The new Board of Directors have ordered fresh audit of the financials of the company. It was pointed out that thte borrowings of the company had more than doubled in just four years. There are also pretensions over the stand that Banks and mutual funds might take on lending to the NBFCs like IL&FS

Business Standard:
Chanda Kochar seeks more time to appear before SEBI for a personal hearing

ICICI Bank’s former MD and CEO has requested for more time in response to the showcause notice served to her.

SIDBI keen to expand exposure in MFI industry as it posts 25% annual growth

MFIs have been at the forefront of microfinancing, as a result SIDBI is promotin the MFIs to extend their activities in various sectors.

by Press Information Bureau (PIB):
India’s Foreign Trade: September 2018

India’s Merchandise Trade : April-September 2018

PIB has released the India’s foreign trade: September 2018 from Ministry of Commerce and Industry.

Wholesale Price Index reviewed for September 2018

WPI rose by 0.70% for the month of september 2018, reaching a level of 120.8%

Enjoy Reading!!

regards

Banker Forum

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