Letter from the Editor
The Indian economy is dangerously poised with the rupee on the verge of breaching the Rs60/US$ mark. Economic growth is slow and balance of payments is under severe stress. A weak rupee slumping will have a cascading effect on inflation, interest rates, stocks and gold.  At the same time, capital inflows may dry up if the US Federal Reserve sticks to its plan of slowing down monetary stimulus later this year. Global sentiment for emerging market equities is dour, too, which would choke foreign inflows. What would be the implications of such an economic situation for stocks, bonds and gold? Turn to our Cover Story on page 28 to find out.
 
In her Different Strokes section, Sucheta recounts the mudslinging between NDTV and a firm called Quantum, which alleges that NDTV received irregular promoter funding, while NDTV alleges blackmail. Is there more to this story? Turn to page 16. In her Crosshairs section, Sucheta talks about how the UK regulators are clamping down on dodgy companies. Sadly, Indian regulators are napping. 
 
Fixed deposits are one of the safest forms of investments. Yet, did you know that there’s a good chance that you are getting less than your due? We found that different banks have different ways of deducting tax on interest on re-investment or cumulative deposits. Is your bank shortchanging you with its policies? Turn to page 26 to find out.
 
Moneylife Foundation hosted two high-profile real estate dignitaries—Pranay Vakil and Parimal Shroff—to a completely packed house to discuss the Real Estate (Regulation and Development) Bill 2013  approved by the Union Cabinet. We have dedicated two pages for those who have missed the event, as well as uploaded a video on the Foundation’s website. Do visit the website; we have planned several events that you may not want to miss.

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COMMENTS

Om Nath Garg

3 years ago

kindly help me with Ms Sucheta Dalal email id as I need her help, guidance urgently regarding pending shares transfer for months with Parikh Herbal co.
Very much impressed for your excellent work.
thanks
kind regards
om nath garg & Mrs.Krishna Garg

Government approves Rs650 crore penalty on Bharti Airtel

An internal committee of DoT had alleged that Bharti Airtel had continued to route national and international calls as local calls under a scheme till 2005 despite being told to stop it in 2003

Telecom minister Kapil Sibal is learnt to have approved levying of Rs650 crore penalty on Bharti Airtel for violating roaming norms in 13 service areas between 2003 and 2005.

 

“The minister has approved penalty of Rs650 crore on SLD (subscriber local dialling) matter,” a telecom ministry official said.

 

An internal committee of Department of Telecom had alleged that Bharti Airtel had continued to route national and international calls as local calls (SLD) under a scheme till 2005 despite being told to stop it in 2003.

 

This caused loss to the government exchequer and state-run Bharat Sanchar Nigam (BSNL), it said.

 

The official said “demand notice will be issued this week”.

 

Meanwhile, the company did not respond to emails sent for comments on the development.

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