RBI remove charges for RTGS, NEFT system transactions
The Reserve Bank of India's (RBI) said that it has decided to do away with charges levied on National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) transactions.
As of now, the RBI levies minimum charges on banks for transactions routed through its Real Time Gross Settlement System (RTGS) meant for large-value instantaneous fund transfers and the National Electronic Funds Transfer (NEFT) System for other fund transfers. Banks, in turn, levy charges on their customers.
USFDA completes inspection of Natco's Kothur formulation facility
Natco Pharma announced the completion of a regulatory inspection from the United States Food and Drug Administration (USFDA) for its Formulation facility in Kothur Village, near Hyderabad, India, which was conducted during the period May 30, 2019, to June 5, 2019.
At the end of the inspection, the facility received nine observations, with no repeat observations and mostly procedural in nature. The company believes that none of the observations is related to data integrity and that all of the observations can be addressed within a short period of time.
Second Bi-monthly Monetary Policy Statement, 2019-20 by Shaktikanta Das
On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) at its meeting decided to:
Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 5.75% from 6.0% with immediate effect.
Consequently, the reverse repo rate under the LAF stands adjusted to 5.50%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.0%.
The MPC also decided to change the stance of monetary policy from neutral to accommodative. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.
Alembic Pharma gets USFDA nod for Carbidopa and levodopa ER tablets
Alembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Carbidopa and Levodopa Extended-Release Tablets USP, 2.5 mg/100 mg and 50 mg/200 mg.
The approved ANDA is therapeutically equivalent to the reference listed drug (RLD), Sinemet CR Tablets, 25 mg/100 mg and 50 mg/200 mg, of Merck Sharp & Dohme Corp.
Carbidopa and Levodopa Extended-Release Tablets, USP are indicated in the treatment of Parkinson's disease, post-encephalitic parkinsonism, and symptomatic parkinsonism that may follow carbon monoxide intoxication or manganese intoxication.
Eros International Media plunges 20% after CARE Ratings downgrade
Shares of Eros International Media hit 20% lower circuit on the BSE after CARE has cut the creditworthiness of the company, citing delays or likely defaults in serving debt availed from banks.
The Long - Term Bank facilities (Term Loan) of Rs300cr has been assigned CARE D (Single D), revised from CARE BBB-; Stable (Triple B Minus; Outlook: Stable)
The Long - Term Bank Facilities (Cash Credit) of Rs263cr has been assigned CARE D (Single D), revised from CARE BBB-; Stable (Triple B Minus; Outlook: Stable)
The Short - Term Bank Facilities of Rs187cr have been assigned CARE D (Single D), revised from CARE A3 (A Three).
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