The Asian Development Bank (ADB) on September 14, 2020, announced that it has

appointed Takeo Konishi as a Country Director of India. Takeo Konishi has succeeded
Kenichi Yokoyama.

The Asian Development Bank announced on September 15, 2020, that India�s economy is
expected to contract by 9% in 2020-worse than the 4% contraction which the bank had
forecasted three months ago.

According to the CARE (Credit Analysis and Research Limited) Ratings Report, the
employment growth rate has declined to 3.5% in the Financial Year 2020 from 3.8% in
the previous fiscal year.

As per the Supreme Court�s direction, loans that had not been declared non-
performing assets (NPA) by August 31, 2020, must continue to remain free of this
classification until further orders, extending the relief it had given on September
3.

Union Finance Minister Nirmala Sitharaman launched Doorstep Banking Services by

Public Sector Banks (PSBs) on September 9, 2020. The services aim to provide
customers with the convenience of banking services at their doorsteps.

On September 10, 2020, the Union Minister of Shipping Manusukh Mandaviya launched a
dispute redressal mechanism called SAROD Ports. SAROD is Society for Affordable
Redressal of Disputes. Highlights Earlier the SAROD Saroj Port was in place where
the dispute between port and the concessionaire working with the port was
arbitrated.

The third annual Indo-Pacific Business Forum is to be held in Hanoi, Vietnam

capital between October 28, 2020 and October 29, 2020. The forum is to be sponsored
by US-ASEAN Business Council, Vietnam Chamber of Commerce and Industry, US Chamber
of Commerce and Government of Vietnam.

The Coal India Limited is to invest Rs 1.22 lakh crores to develop 500 projects
related to coal evacuation, infrastructure, project development, exploration and
clean coal technologies. Highlights The investment aims to make India self-reliant
in coal. It will also help to achieve production target of 1 billion tonnes by
2023-34

The government introduced the new Banking Regulation (Amendment) Bill, 2020, that
intended to give the powers to restructure cooperative banks to the Reserve Bank of
India. The power of RBI�s banking regulations will be extended to the cooperative
banks after the ratification of the bill.

Byte Dance a Chinese Company which owns a popular video-sharing app called TikTok
in its recent merger deals choose Oracle a US-based firm. Byte Dance was instructed
by Trump�s administration to either close its operation in the US or sell the
company to a US-based company.

The data released by the government showed a slight downfall of CPI-based Retail
inflation in India from 6.73% of July to 6.69% in August. Food inflation in August
also degraded marginally to 9.05% from the previous 9.62%.
The apex telecom regulatory body TRAI intended to set up an industry body and
recommended a �light-touch regulatory framework� for cloud service providers. The
Department of Telecom has been given the green light to initiate the process in
this regard and asked the service providers to become its member.

Recently Government of India released a notification outlawing the export of all

kinds of onions. The ban is imposed three months after the central government made
changes in the Essential Commodities Act, 1955.
Securities and Exchange Board of India which is responsible for regulating the
Indian market in order to revamp its IT infrastructure network and communication
system shortlisted top companies which includes, Bharti Airtel and Wipro and
others.