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Business news wrap: Defence ministry's indigenisation push to SEBI warning to Paytm – Top 5 news
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2 min read | Updated on July 16, 2024, 17:30 IST
SUMMARY
Here's a curated roundup of the top five business news articles of the day.
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Govt aims at reducing the country's reliance on imports in the defence sector
Defence ministry notifying the fifth positive indigenisation list of 346 items, aimed at reducing defence imports, was amongst the top business news of the day. The warning issued by SEBI to Paytm over transactions related to its banking arm also remained in focus.
Here are the top five business news of the day:
Defence ministry notifies 5th positive indigenisation list of 346 items
Moving ahead with its strategy to curtail imports in the crucial defence sector, the Centre on Tuesday, July 16, notified the "fifth positive indigenisation list" consisting of 346 items. Read more
Paytm gets warned by SEBI over transactions with banking arm, defends itself
Paytm informed the exchanges that it received SEBI's warning letter that concerns related party transaction the firm made with Paytm Payments Bank Limited (PPBL). Defending itself, Paytm said it is committed to upholding the highest compliance standards. Read more
SEBI amends REIT, InvIT rules; issues framework for unit-based employment benefit scheme
Capital markets regulator SEBI developed a framework for a unit-based employment benefit scheme for investment trusts -- REITs and InvITs. Under the framework, SEBI has prescribed the manner of the implementation of the scheme through a trust, the manner of receiving units by the employee benefit trust, and the manner of allotment of units to the employee benefit trust by REIT (Real Estate Investment Trust) and InvIT (Infrastructure Investment Trust). Read more
Centre implements uniform 5% IGST on all aircraft and engine parts nationwide
The government announced the implementation of a 5% uniform IGST rate on all aircraft and aircraft engine parts to boost the industry. The decision, which comes into force with immediate effect, marks a significant milestone for the domestic Maintenance, Repair, and Overhaul (MRO) industry, aimed at making India a global aviation hub, an official release said. Read more
AMFI urges govt to permit pension-focused schemes with NPS-like tax benefits
The Association of Mutual Funds in India (AMFI) has requested the government to allow mutual funds to offer pension-focused schemes -- Mutual Fund Linked Retirement Schemes (MFLRS)-- with similar tax benefits as the National Pension System (NPS). Read more
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