* AUTOMOBILES: The government has approved the policy document for the National Electric Mobility Mission 2020, which envisages spend of up to 230 bln rupees over the next eight years.
* BANKING: Banking transactions on mobile phones are set to get easier in a few days as even low-end phones can be used for service code-based banking. The finance ministry wants state-owned banks to follow a consistent risk-assessment approach while sanctioning loans to ease funding constraints for large banks. * GOVERNANCE: Prime Minister Manmohan Singh may carry out a major Cabinet reshuffle in the second week of September, which could see heavyweights such as External Affairs Minister S.M. Krishna, and Oil and Natural Gas Minister Jaipal Reddy swap their portfolios for state-level positions. * MERGERS AND ACQUISITIONS: Vedanta Resources has received shareholders' approval to purchase the government's residual stake in Hindustan Zinc and Balco for total 216.35 bln rupees. * MINING: The government has made it clear that there is no move to cancel the licences for coal blocks despite the political logjam over the Comptroller and Auditor General's report. * POWER: Electricity tariffs have been hiked by about 10% in Thane, Navi Mumbai, and Kalyan-Dombivili in Maharashtra , retrospectively from Aug 1. The Mumbai municipal area, except Mulund, Bhandup, and Kanjurmag, has been included in the tariff hike. * REAL ESTATE: The department of public enterprises has circulated a Cabinet note seeking to create a Public Sector Land Development Authority, which will free up thousands of acres of prime real estate across India . * REGULATORY: The Securities and Exchange Board of India has allowed companies to use rights and bonus issues to meet the minimum public shareholding norms. The government has exempted companies from disclosing detailed information on installed capacity and production to align the reporting norms with international standards. The Cabinet Committee on Economic Affairs is likely to consider a proposal to give the Competition Commission of India jurisdiction over all mergers and acquisitions. The SEBI will soon ask companies that are seeking to raise funds through initial public offering to complete the bidding process within a maximum of five days and get listed in another five days. * SHIPPING: Goa-based Dempo group's shipbuilding arm has acquired 74% stake in Gujarat 's shipyard company Modest Infrastructure. * SUGAR: Maharashtra 's sugar output in 2012-13 (Oct-Sep) may fall 30% from a year ago to 6.3 mln tn due to lower availability of sugarcane in the state. * TAXATION: Partnership firms are not eligible for tax treaty benefits, the Authority of Advance Rulings said in an order. * TELECOM: Operators stand to lose around 50 bln rupees annually in revenues as the Telecom Regulatory Authority of India is planning to curb their freedom to offer value-added services. By RUPEE DESK [email protected] -- You received this message because you are subscribed to the Google Groups "Kences1- Rupeedesk" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/kences1?hl=en.
