News digest: Govt vs RBI, Lion Air crash, banking shares rise, and more

Officials say there was no discussion in any board meeting, govt does not know the rationale behind revising the framework and how RBI arrived at it

Govt angry over being in dark on PCA, NPA norms
 
Amid differences between the Reserve Bank of India (RBI) and the finance ministry, officials said the government was upset with the central bank for not consulting it before finalising norms for prompt corrective action (PCA) and classification of non-performing assets (NPAs). The RBI did not discuss these at its board meetings either, a senior government official said. Read more
 
India, Japan sign $75-billion currency-swap agreement
 

In another move by the Modi regime to shore up the rupee and address current account deficit (CAD) woes, India and Japan on Monday inked an agreement to raise their emergency provision to increase the forex flow up to $75 billion from the current $50 billion. Read more

 
Banking shares lift mkts from 7-mth low

The benchmark indices brushed aside concerns about the autonomy of the central bank and jumped 2 per cent to post their biggest single-day gain in two weeks. Read more
 
DGCA seeks Lion Air crash details from Boeing, FAA
 
The Directorate General of Civil Aviation (DGCA), the Indian aviation regulator,  has sought information from Boeing and the Federal Aviation Administration (FAA) of the US on the Lion Air crash, which resulted in the deaths of 189 passengers aboard on Monday. Read more
  
Amazon Prime leads race to acquire Hindi blockbusters
 
Video-streaming service Amazon Prime is leading the race to buy digital rights for blockbuster Bollywood films, with its global peers Hotstar and Netflix trailing far behind. The only Indian over-the-top (OTT) service provider challenging the might of international players is Zee5. Read more