Banking Awareness 07th January 2017 | Financial Affairs 07th January 2017

BEML gets ‘in-principle’ approval for divestment of GoI’s 26% stake

Cabinet Committee on Economic Affairs gives nod to stake sale

BEML announced the Government of India, Ministry of Defence, had communicated ‘in-principle’ approval of the Cabinet Committee on Economic Affairs (CCEA) for strategic disinvestment of 26% equity shares in BEML out of Government of India’s shareholding of 54.03%.

Manohar Parrikar

Defence Minister.

Finance Ministry seeks suggestions from Twitterati on focus of Budget 2017

Suggestion from twitter user’s

With less than a month remaining for budget presentation, Finance Ministry invited suggestions from Twitterati on what should be the focus of the Budget for 2017-18 to be unveiled on February 1.

February

Union Budget for FY18 would be presented.

It’s my duty as director to share details with I-T dept: Mistry to Tatas

Tatas want Mistry to return all classified papers

Ousted Tata Sons chairman Cyrus Mistry has responded to the Tatas’ demand that he hand over all confidential documents in his possession by saying that obstructing him from sharing information with income tax (I-T) authorities would be against the law

Cyrus Mistry

He was the sixth chairman of the group.

Chinese brands takes 50% of India’s smartphone market

Compared to 19% a year ago.

Chinese brands took their largest ever slice of the $10-billion Indian smartphone market in late 2016, accounting for more than one in every two phones sold – a growing market share that are into sales from top-selling Samsung Electronics.

Chinese companies

Chinese brands like Oppo, Lenovo, OnePlus, Gionee, Xiaomi took over 50%.

SC refuses ‘urgent’ hearing on plea seeking budget deferment till April

Due to Election in five states.

The Supreme Court refused an urgent hearing on a plea seeking that the Union Budget for 2017-18 be deferred till April.

Election date

February 4 and March 8.

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