Daily Financial News 30 Th Sep

Daily Financial News Analysis – 30th Sep’19 | PDF Download

Share 1% of your income

  •  IITs are set to appeal to outgoing students
  • Contribute up to 1% of their annual earnings to their alma mater.
  • The proposal, based on the recommendations made by some IIT directors, was given a go ahead in the meeting of the IIT Council.
  • Income-share arrangement
  • For IITs, self-sustainability is an important concern.
  • IITs are seeking an autonomy framework similar to the one given to IIMs last year through an act of Parliament.
  • While various financial autonomy models are being considered, a key hurdle is the high dependency of the 23 institutes on government funding.

India-Saudi Arabia

  • Saudi Arabia is world’s biggest oil exporter.
  •  It is is likely to invest $100 billion in India $100 billion Energy Refining Petrochemicals Agriculture Infrastructure Minerals Mining
  • Saudi Arabia is a key pillar of India’s energy security 17% or more of crude oil 32% of LPG
  •  Vision 2030 of Crown Prince Mohammed bin Salman
  • Current bilateral trade: $34 billion

Retail Cheer

  •  Festive season shopping: consumption pick up
  • Relief to large retail chains, brands, malls and e-commerce marketplaces.

Cheaper Home loans

  • 1st Oct 2019: new system of linking loans with benchmarks prescribed by the central bank.
  • RBI: repo rate, or three-month or sixmonth treasury bills, or any other benchmark published by Financial Benchmarks India.
  •  Banks are free to decide the spread over the external benchmark.
  •  Borrowers could be paying less on their mortgages.
  •  In some cases the cost of funding may come down by 30 basis points.
  • External benchmarking on lending rates is likely to result in significant volatility in equated monthly instalments (EMIs) for borrowers.
  • Risk premiums may change in line with a borrower’s credit assessment


  • Ecommerce guidelines for consumer protection
  • The consumer affairs ministry would update the draft ecommerce guidelines.
  • Goods and services both will be covered Video streaming Online ticket booking Ride hailing
  • Self-declaration form for sellers to guarantee the authenticity of goods and services being sold online.
  • Guidelines for services should be such that they empower the consumer with key information about the terms of service, details about the service provider and their liabilities.
  • Grievance redressal mechanism

Onion Exports BANNED

  • Applicable to all varieties of onion
  • Prices have doubled in domestic retail market
  •  Bid to tame prices
  • Imposed stock limits on onion tradersRetail trader: 100 quintals Wholesale trader: 500 quintals
  •  To facilitate release of stocks and prevent hoarding by traders.
  • Onion is a relatively small crop, a little over 15 million tonnes in India.
  • China cultivates a lower area, but is the world’s largest producer, because its yield is about half as much higher than in India.
  • Ban is a traditional rut
  •  Farmers are stopped from bumper price benefits
  • The sensible course is proper storage at times of harvest and steady decumulation of stocks over the year.
  •  The government should encourage export of onion in its raw and processed forms. Invest in food technology



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