DAILY NEWS: OUR PICKS


Moneylife Digital Team 12 June 2013
Three customers of HDFC Bank found money withdrawn using their debit card in Greece while all of them were in Mumbai. Is this limited to just one bank? It is happening again. Somebody is withdrawing money using peoples’ debit or credit cards from several places across the world....

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Anishi Khetan 12 June 2013
The makers of Magarpatta near Pune plan to start organic farming on the lands at Nanded city by using techniques like crop rotation, use of recycled water, compost and integrated pest management Nanded City, a project of the Magarpatta group, has branded itself as an eco-city with a plan...

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Moneylife Digital Team 12 June 2013
Nomura asserts that a depreciating currency will exert inflationary pressures. A 10% depreciation of the rupee is expected to lead to a 0.6%-0.8% increase in WPI The rupee has depreciated against the US dollar by around 9% since May, falling to an all-time low of 58.90 yesterday....

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Moneylife Digital Team 12 June 2013
Experian has made a bid to buy minimum 26% stake in High Mark, the debt ridden and cash strapped credit bureau in India. The question is whether RBI would allow the credit information company to buy stake in similar venture Experian Credit Information Company of India Pvt Ltd (Experian...

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Moneylife Digital Team 12 June 2013
Despite orders from the CIC, the PIO could not provide complete information as the education department at the MCD was not maintaining proper data. The CIC directed the PIO to pay a compensation to the appellant for pursing the matter for over a year. This is the 111th in a series of...

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Bonds schemes have delivered substantial returns over the past year. Such high returns are hard to come by. Should you invest in them? Investors in mutual fund bond schemes would be overjoyed. Over the past one year (as on 27 May 2013) bond schemes have delivered an average return of...

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Sushmita V Gopalan 11 June 2013
State run lenders, led by Bank of Baroda and Indian Bank are putting in place a centralised, online complaint mechanism which tracks complaints from customers on a real time basis. The system automatically escalates unresolved complaints ensuring quick redressal of your banking issues

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Harjot Kaur 11 June 2013
Bajaj Finserv claims that it will offer in-principle loan approval in 5 minutes flat online, for loan against security. We tested it. Here is what Harjot Kaur, our analyst, found out Afew weeks ago, Bajaj Finserv (BFL) announced the launch of its online service for processing and...

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Justin Elliott  and   Theodoric Meyer (ProPublica) 11 June 2013
The recent leaks have shed light on one of the darkest corners of the U.S. government -- but when it comes to mass surveillance practices, clarity remains elusive Last week saw revelations that the FBI and the National Security Agency have been collecting Americans’ phone records en...

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Moneylife Digital Team 11 June 2013
While Congress leader and MP Naveen Jindal had so far maintained distance from the coalgate scam, the CBI seems to think otherwise. The investigation agency had filed an FIR against Jindal and is conducting searches at 19 locations of JSPL in Delhi and Hyderabad. Does this signal changed...

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Moneylife Digital Team 11 June 2013
Despite order from the FAA, the PIO did not provide any information for 10 months. This made the appellant file his second appeal before the CIC, which directed the PIO to pay compensation. This is the 110th in a series of important judgements given by former Central Information Commissioner...

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Moneylife Digital Team 11 June 2013
Following the Cobrapost exposé, the central bank investigation found prima facie evidence of KYC violations. It however, did not find any substantial info on money laundering and said, any conclusive inference can be drawn after investigation of the transactions by tax and enforcement...

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Moneylife Digital Team 11 June 2013
In an order passed by the consumer forum, New India Assurance has been directed to pay Rs48,338 with 9% interest from 11th January 2010, Rs3,000 towards mental harassment and Rs1,000 towards litigation expenses incurred Consumer Education & Research Society (CERS), a name synonymous with...

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Cairn India would do well to concentrate its expertise in what it knows best—get the gas and oil from Barmer and other potential areas, and leave the shale gas/oil issue for subsequent development In the past, exploration in mining lease areas was restricted, but now, based on the advice...

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There is a need to check this spreading menace of renting of NCFM certificates. The most unfortunate part of this renting activity is the reflection of corruption which has spread its tentacles all across the country NSE Certification in Financial Markets (NCFM) is an online testing and...

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Moneylife Digital Team 10 June 2013
Sales of equity mutual fund schemes may have marginally increased, but huge redemptions led to a net outflow of Rs3,357 crore in May 2013. The business will not revive unless the fund companies and the regulators take responsibility for their actions. Equity mutual fund schemes continue...

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We have always talked of “single-window clearance” for decades now.  This is yet to materialize, but in the meantime, to confuse and compound the issue, the Department of Industrial Policy and Production (DIPP) has stated that a multi-brand entity cannot engage in any other form of...

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Who checks the quality of technology or data-matching algorithms used by CIBIL or the other credit bureaus? What is the redress process, when it fails? At Moneylife’s ‘Open House’ with RBI deputy governor Dr KC Chakrabarty on 3rd June, an angry customer stood up to complain about Credit...

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Most companies are swimming with money that they could use to expand their businesses. Instead they choose to repurchase shares. So is a buyback good for a company? By reducing the number of shares outstanding earnings are spread around among fewer shares Although the American market is...

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Suddenly, global bond and currency markets are in turmoil. What is the message for equity markets? Just when the foreigners had convinced themselves of higher growth, lower inflation and lower interest rates, the rupee has crashed. At the same time, the air is going out of all global...

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