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Expectations from Modi's package - Here's what Raghuram Rajan, Amitabh Kant, and others expect

<ul><li><keyword id="7832818" type="UNKNOWN" weightage="20" keywordseo="new-space-india-limited">New Space India Limited</keyword> (NSIL) will be the <keyword id="116095" type="ORGANIZATION" weightage="20" keywordseo="Indian-Space-Research-Organisation">Indian Space Research Organisation</keyword>’s (ISRO) new commercial arm.</li><li>During the <keyword id="6200577" type="UNKNOWN" weightage="20" keywordseo="union-budget-2019">Union Budget 2019</keyword>, India’s finance minister — Nirmala Sitharaman — announced that NSIL will aid ISRO to commercialise its space products like launch vehicles and the transfer of technology.</li><li>The country is already processing its ‘Space Activities Bill’ to align its liability in outer space with international standards.</li></ul> The Indian government has been pushing to become a space power with testing its <a href="https://www.businessinsider.in/nasa-comments-on-mission-shakti-impacts-mission-ganganyaan/articleshow/68682092.cms">anti-satellite weapon</a>, planning a manned mission — <a href="https://www.businessinsider.in/isro-pads-up-to-make-indias-manned-mission-into-space-a-reality/articleshow/64887057.cms">Ganganyaan</a> — and launching its second mission to moon, <a href="https://www.businessinsider.in/heres-why-chandrayaan-2-is-landmark-moon-mission-for-india/articleshow/69842571.cms">Chandrayaan 2</a>, next month. <a href="https://www.businessinsider.in/finance-minister-nirmala-sitharaman-interesting-facts/articleshow/69940950.cms">Nirmala Sitharam</a>, India’s new finance minister, during the <a href="https://www.businessinsider.in/budget">Union Budget 2019</a> just announced a new commercial arm of the Indian Space Research Organisation (<a href="https://www.businessinsider.in/searchresult.cms?query=isro&amp;sortorder=effectivedate">ISRO</a>) — New Space India Limited (NSIL). She said that “the time has come” for India to harness its space technology commercially. While NSIL will be a public sector enterprise, it will aid ISRO to tackle the benefits of its research and development. Sitharam specified that NSIL will spearhead commercialisation of various space products, including production of launch vehicles, transfer of technology and marketing of space products. India is currently processing its ‘<a href="https://www.businessinsider.in/india-space-activities-bill-addresses-damage-in-outer-space/articleshow/69960212.cms">Space Activities Bill</a>’ as well to align its liability in outer space with international standards. This means that in case any Indian space objects cause damage to another, natural or man-made, object in space, India will have a financial plan in place. See also: <a href="https://www.businessinsider.in/india-space-station-plan-by-isro-plans-k-sivan/articleshow/69775780.cms">India wants to set up its own space station to carry out experiments in microgravity</a> <a href="https://www.businessinsider.in/chandrayaan-2-why-indias-isro-is-going-to-the-moon/articleshow/69893150.cms">Chandrayaan 2 will give India bragging rights even if it doesn’t find water</a> <a href="https://www.businessinsider.in/isro-nasa-just-spotted-a-black-hole-spinning-so-fast-that-it-could-be-making-space-itself-rotate/articleshow/66416605.cms">ISRO, NASA just spotted a black hole spinning so fast that it could be making space itself rotate</a>

India forms a new space company to sell ISRO’s space technology products

<ul><li>Indian Finance Minister, <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>, has announced a ban on e-cigarettes in India. </li><li>She said e-cigarettes are being used as a 'style statement' rather than a tool to quit smoking.</li><li>The ban is subject to approval from the Indian parliament.</li></ul> Indian Finance Minister and cabinet member, Nirmala Sitharam, announced a total ban on every aspect of e-cigarettes in the country. "Production, manufacturing, import, export, transport, sale, distribution, storage and advertisements related to e-cigarettes are all banned in India. It is banned in all these nine forms," stated Sitharam during the cabinet briefing. She said that the decision is being taken in lieu of the seven deaths, which occurred in the US over the past week, directly linked to the use of e-cigarettes. <div type="twitter" handle="PIB_India" handlename="PIB India" image="http://pbs.twimg.com/profile_images/974552536408444928/TVZG_9jP_normal.jpg" favoritecount="104" retweetcount="38" status="#UnionCabinet approves the promulgation of the prohibition of E-Cigarettes Ordinance, 2019. The decision to prohib… https://t.co/DF4OUMqGGa" createdat="1568800703000" id="1174261375339827201"></div>

 "The cabinet, rightly, thought it's time to immediately take a decision so that the health of our youth and citizens is not risked," said Sitharam. E-cigarettes are a 'style statement' A large number of e-cigarette models are available in the market today. However, none of them are produced in India. The government believes that are currently over 400 brands of e-cigarettes in the country available in over 150 flavours. The varieties on offer tend to make people try them due to the 'cool' factor, rather than the devices being used for their original purpose, which is to help people quit smoking. "In India, ground reports say that e-cigs are being used as a 'style statement'," said Sitharaman. "Reports say many people are not using it to quit smoking but actually smoking cigarettes as well as e-cigarettes, if they're already smokers. Some are getting into the habit because it seems cool," she explained. Passive smoking E-cigarettes were banned as they are not only harmful to the user and those around them. The fact that're odourless makes even more dangerous, according to Sitharaman. "The smoke exhaled by a user of e-cigarettes, contains a high level of residual nicotine, which for people around standing as passive smokers — it will affect them too," she said. While the cabinet approved the ban, it is subject to approval from the government. The ordinance advises the government to analyse the impact of e-cigarettes on people and their health. The cabinet will take the matter forward during the next session of parliament.

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

New Delhi, Dec 22 () LIC-controlled IDBI Bank expected to come out of the Prompt Corrective Action (PCA) framework in the last quarter of the current fiscal with the support of capital infusion and recovery from large IBC cases.
According to sources, some of the restrictions with regard to lending by the bank have been eased recently.
With money coming from resolution on Essar Steel and expected flow from resolution of Bhushan Power and Steel and Alok Industries, sources said the bank is likely to be posting profit during the third quarter and the subsequent quarter.
The bank has already come below net NPA threshold of 6 per cent, one of the three parameters for triggering PCA framework. The net NPA of the bank reduced to below 6 per cent in the second quarter ended September 2019.
Recently, Parliament approved Rs 9,300 crore capital infusion in IDBI Bank. The department of financial services got an additional Rs 4,557 crore for infusion into IDBI Bank through recap bonds for their share of 47.11 per cent in IDBI Bank. State-owned LIC, which is the promoter of the debt-ridden lender with 51 per cent stake, will pump in an additional Rs 4,743 crore to improve the bank's capital position.
Wtih this kind of capital infusion coupled with write back from the recoveries from large NPA cases, the bank is expected to come out from the weak bank watch list by the end of the current fiscal, sources said.
The PCA framework kicks in when banks breach any of the three key regulatory trigger points namely capital to risk weighted assets ratio, net non-performing assets (NPA) and return on assets (RoA).
Earlier this month, Finance Minister Nirmala Sitharam said the recapitalisation was done by the government by infusing Rs 21,157 crore into IDBI Bank since 2015 after we came back to power and LIC infused Rs 21,624 crore.
"So both put together have given Rs 42,781 crore to the bank. This has help reduce the net NPAs from a peak of 17.3 per cent in September, 2018 to 5.97 per cent in September, 2019. It has come below RBI's 6 per cent net NPA threshold level," she had said.
Earlier this year, the RBI removed five banks - Bank of India, Bank of Maharashtra, Oriental Bank of Commerce, Allahabad Bank and Corporation Bank - from the PCA framework in two phases after capital support from the government that resulted in improvement in their financial parameters.
The capital infusion helped these lenders meet requisite capital thresholds and reduced their net NPA levels to below 6 per cent. DP MKJ

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Expectations from Modi's package - Here's what Raghuram Rajan, Amitabh Kant, and others expect

India forms a new space company to sell ISRO’s space technology products

Prabhjote Gill

Cabinet bans e-cigarettes which are 'harmful' and a 'style statement'

Prabhjote Gill

IDBI Bank likely to be out of PCA framework in fourth quarter

PTI

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