New Delhi

Garg to meet RBI’s Acharya to discuss borrowing calendar

RBI Deputy Governor Viral Acharya will meet Economic Affairs secretary Subhas Chandra Garg on March 22 to discuss the borrowing calender for 2018-19 fiscal.

The government has plans to borrow Rs 4.07 lakh crore from the money market in 2018-19. According to sources, they would along with other ministry officials, discuss the issues on the timing, tools  of the government borrowing.

PDs pitch for more short-term debt instruments

Primary dealers on Wednesday asked the government to issue more shorter-dated securities to help boost   the declining demand in debt markets, said a finance ministry official after meeting with market participants about the country's borrowing plans.

The ministry had convened a meeting of primary dealers ahead of release of borrowing calendar for the first half of the next financial year.

According to official sources, the dealers have suggested for "more shorter duration government debt instruments" to reduce mark to market losses.

Sebi mulls overhaul of algo trading rules

Capital markets regulator Sebi is looking at a number of measures to strengthen the algo trading framework, including by mandating the exchanges to offer shared co-location facilities and providing some services for free.

Sebi has also proposed a review of trading requirement for algo software for strengthening the algorithmic trading framework by mandating stock exchanges to provide a simulated market environment for testing of software used for such high-frequency trades.

Panel may ease IBC qualification criteria

The panel reviewing the Insolvency and Bankruptcy Code (IBC) may suggest easing of qualification criteria to allow larger participation in resolution process.

Sources said the panel is in favour of allowing companies that have not been in management of non-performing assets (NPA) to bid for stressed assets. Thus the treatment would bring out a clear distinction between promoters of defaulting firms that don’t have a managerial role, from those

who also manage stressed assets.

Dalmia ups ante as battle turns bitter

The resolution process for bankrupt Binani Cement has taken a bitter turn with Dalmia Bharat on Wednesday charging the corporate debtor of creating unnecessary hurdles in the insolvency process to prevent its fraudulent transactions from coming under court’s scrutiny.

Trade deficit of $44 billion pushes up CAD

A higher trade deficit has widened India’s current account deficit (CAD) and the general opinion of economists is that the deficit may not be a big risk in isolation.

However, it is important to consider the indications of this for the economy. According to Reserve Bank of India data, India’s CAD, which shows the excess of a country’s imports over its exports, rose to two per cent of India’s GDP at $13.5 billion in the December quarter of 2017 (Q3).

Review GST rates: PwC

Top consultancy firm PwC has suggested the government to cut peak GST (goo­ds and services tax) rate to 20-22 per cent from 28 per cent now while clubbing the two rates of 12 and 18 per cent and keep it somewhere between 14-16 per cent.

Prabhu appeals for common ground to strengthen WTO

Commerce minister Sur­e­sh Prabhu on Tuesday app­e­aled to the WTO members to identify common grou­nd for strengthening the multi-lateral trade body amid challenges being fa­ced by it following the dea­dlock at the Buenos Aires ministerial in December.

Delegates from as many as 52 countries, including the US and China, are parti­cipating in the informal me­eting of the WTO called by India amidst increasing protectionism in global trade. India has called this meet to explore options to reinvigorate the World Trade Organization (WTO).