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Plan Sashakt To Tackle Bad Loans, Hike in MSP, JioGigaFibre Announced, Trade War Begins et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Jul 8, 2018 11:28 AM 2 min read
Editorial

End of Week Wrap-up (July 2, 2018 - July 8, 2018) #Sashakt #badloan #banks #NPA #Modi #Kharif #MSP #Reliance #JioGigaFibre #JioPhone2 #Flipkart #Amazon #TradeWar #US #China #tariff #tax #Micron #Transfin

Editor's Comment: Govt unveils five-point plan ‘Sashakt’ to tackle bad loans. The plan was presented by a panel of bankers, led by PNB chairman Sunil Mehta as they look to tackle NPAs across the banking sector, using Asset Management Companies and Asset Reconstruction Companies.

 

Modi govt approves hike in MSP for Kharif crops which will cost the exchequer more than INR15,000cr. The hike was 52.47% for Ragi, 42.94% for Jowar hybrid, 12.9% for Paddy, 38.64% for Bajra and 28.11% for Cotton.

 

Reliance Industries announces broadband services named "JioGigaFibre" and Jio Phone 2. Also plans to take on Amazon and Flipkart with new e-commerce venture based on technology platform Jio and physical space Reliance Retail.

 

Flipkart set to enter financial services business; will lend to consumers and sellers. The firm is in process to get a NBFC license, as it looks to offer credit and insurance products to its 100 million customers and over 1, 00, 000 sellers.

 

Global trade war heats up as US tariffs worth $34bn on China goods kicked off from 6th July. China retaliates with equivalent tariffs. Donald Trump has stated the tariffs may go upto $500bn, equivalent to the goods imported from China last year. On the other hand, EU threatens to impose retaliatory tariff of $300bn on US to counter Trump’s tax hike on autos from EU. Trump has threatened a 20% tariff on all EU manufactured autos and auto parts.

 

US based chipset- maker, Micron, banned in China as the former loses patent infringement case. Taiwan’s United Microelectronics Corporation (UMC) had filed a lawsuit against Micron in January. Micron is barred from selling 26 products in China.