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the unique identification numbers distribution chain and whether it is dis- time in two decades in the current fi-
(UIDN) chartered accountants torting markets and competition in the nancial year, rating agency Crisil said,
generate for documents attested by sector. "Our years of enforcement has adding an expansion is likely only in
them. shown us that certain industry prac- FY22. Crisil expects loan growth for
tices in the pharmaceutical sector do NBFCs in FY 22 to be subdued at 5-6%.
India extends lead over not allow markets to work effectively
and healthy competition to drive the Will meet $1-trilion export
China in sovereign fund market outcomes in the form of low
flow prices and reliable quality," the CCI target by 2025: Goyal
India has quietly replaced China as the chairperson said. India is on track to achieve the $1-
most sought after destination for trillion export target by 2025, said
global sovereign wealth funds Invest in IPOs via app Commerce and Industry Minister
investment in the private sector - a sign Paytm Money users can now invest in Piyush Goyal at the Board of Trade
of the country's growing attraction for IPOs through the app. Investors can meeting where the government and
investors. instantly apply for all the latest IPOs industry deliberated on measures to
boost exports, manufacturing and the
According to data by New York-based and make fund transfers using UPI ID, new foreign trade policy.
Global SWF, which tracks over 400 linked to their bank accounts to quickly
sovereign wealth funds, in the year complete the application process. The Industry urged the government to
2020 to date, these funds deployed platform offers a seamless interface to operationalise the new export credit
capital worth a record $14.8 billion in make changes, cancel or reapply the insurance scheme, expand the
India, which is nearly three times more bidding application within the IPO production-linked incentive (PLI)
than what they have put in China ($4.5 window. It also offers features such as scheme, announce the duty remission
billion). tracking upcoming IPOs, viewing rates at the earliest and sign free-trade
company history and details, pacts with the US, the EU and the UK
CCI looks at pharma to downloading prospectus, and also to offset the impact of not joining the
checking the performance of past IPOs. Regional Cooperation of Economic
unlock competition This service is available on both the Partnership (RCEP).
The Competition Commission of India Paytm Money app and website.
(CCI) has launched a study to identify Target to build roads
and address anti-competitive practices Govt to sell up to 28% in
in the pharmaceutical sector as the worth Rs. 25 trillion:
country grapples with the Covid-19 IRCTC Gadkari
pandemic that has accelerated The government is planning to sell up The government has taken multiple
household spending on health care. to 20% stake in Indian Railway Catering steps to attract investments in the
and Tourism Corporation Ltd. through
Ashok Gupta, chairperson of the CCI, an offer-for-sale which opens for infrastructure sector, including revising
told that identifying mechanisms that asset monetisation models and setting
lock competition in the pharmaceutical subscription. Govt. would divest 15% up special purpose vehicles for the Rs
equity with a 5% green shoe option,"
markets and addressing them through 1 lakh crore Delhi-Mumbai corridor
Department of Investment and Public
proper instruments becomes all the project, Union Minister Nitin Gadkari
Asset Management Secretary Tuhin
more important during a pandemic. said.
Kanta Pandey said in a tweet.
While the Covid-19 pandemic made The road transport, highways and
the study more pertinent, the CCI Non-banks will see assets MSME minister also said road projects
decided to launch it in the light of the worth Rs 25 lakh crore will be built as
huge number of cases relating to trade grow in FY22 only, says part of the Rs 100 lakh crore
practices in the sector. Crisil infrastructure building programme
The study will capture the role of trade Assets of India's non-bank financiers announced by Prime Minister
associations and e-pharmacies in the are expected to shrink for the first Narendra Modi.
12 | 2021 | JANUARY | BANKING FINANCE