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As China slows, the loan defaults will increase as will unhappy customers. In an era of social media, it will be more difficult for the government to prevent people from removing their money from the system Zhang Ke, the vice-chairman of China’s accounting association, is worried. He and...

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With the WB government bailing out Saradha, we have set a dangerous precedent and reached a new low in accountability In mid-April, the Saradha group, a Ponzi scheme in Kolkata, went down, taking the savings of poor people from across the state. This will not be a surprise to readers of...

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Nilesh Kamerkar 29 April 2013
This is the first of a two-part series on essential facts about mutual funds. The second part will discuss the common mistakes people make and end up losing money and faith in mutual funds One of the giants of the investment industry, John Bogle, said “Your best hope of wealth creation...

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Moneylife Digital Team 27 April 2013
Chain-money schemes like Saradha are flourishing in our country. Countless crores have been lost in this manner. But these schemes aren’t the only danger. There are internet-based scams, phishing scams, identity theft, job scams, and much else you could be fooled by. Sucheta Dalal briefed...

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Moneylife Digital Team 27 April 2013
The market will remain volatile ahead of 3rd May when the RBI will announce its monetary policy for 2013-14. A weekly close below 5,800 will see Nifty head lower again The Indian market closed the holiday-shortened week on a firm note on mixed earnings reports and hopes that the Reserve...

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Moneylife Digital Team 26 April 2013
Despite recording a 21% growth in its fourth quarter net profit, ICICI Bank shares ended about 3% down as the result failed to beat market expectations ICICI Bank, India's largest private sector lender, on Friday reported a 21% growth in its fourth quarter net profit despite higher net...

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Moneylife Digital Team 26 April 2013
Robust sales of Swift, DZire and Ertiga during the quarter helped Maruti Suzuki to report a 80% jump in fourth quarter net profit Maruti Suzuki India, the country's largest carmaker, on Friday reported an 80% jump in its fourth quarter net profit on better pricing and improved product...

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Moneylife Digital Team 26 April 2013
Virtually every domestic carrier expects to maintain pricing stability, which the brokerage thinks should continue in the next 1-2 quarters. However, uncertainty prevails beyond that, says Nomura Equity Research in its Quick Note on Idea Cellular Private sector mobile services provider...

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Moneylife Digital Team 26 April 2013
The board of directors of CEBBCO took one whole month to accept Ajay Gupta’s and another director, Akhil Awasthi, resignation. What took it so long? In a new twist to the tale to the Commercial Engineers & Body Builders Co (CEBBCO) saga, the company has released a startling notice to the...

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India will not command respect if we keep towing the line of least resistance. It is time to put up a firm stand on these matters and consider an embargo on trade until such time China realizes that it can not fool us all the time India is planning to extend a red carpet (how...

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Theodoric Meyer (ProPublica) 26 April 2013
Seven different agencies regulate fertilizer plants in Texas, but none of them have authority over how close they are to homes and schools April 25: This post has been corrected.   A week after a blast at a Texas fertilizer plant killed at least 15 people and hurt more than 200,...

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Moneylife Digital Team 26 April 2013
The Commission congratulated the applicant for bringing to light a serious lapse in a Delhi hospital, which could be misused for trafficking of new-born babies. This is the 81st in a series of important judgements given by former Central Information Commissioner Shailesh Gandhi that can be...

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Moneylife Digital Team 25 April 2013
After keeping mum for all these years the MCA has finally decided to hand over the probe of chit-fund, MLM, Ponzi and pyramid schemes to a special task force under the SFIO After the collapse of Saradha group, the ministry of corporate affairs (MCA) in a face saving measure has decided...

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Moneylife Digital Team 25 April 2013
We mentioned that a strong upmove was possible above 5,870. Today the Nifty closed at 5,916. The upmove will continue as long as the benchmark does not close below any previous day’s low The market settled in the green for the fourth day on gains in auto and healthcare stocks in late...

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Moneylife Digital Team 25 April 2013
De-growth in its intellectual property division coupled with a challenging market caused revenues to steady down and the company has been put on Hold by SBI Cap Securities SBI Cap Securities has recommended its clients to put Persistent Systems on hold after valuing the company at Rs600...

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Moneylife Digital Team 25 April 2013
Five years is a reasonable time-frame for equity investments, but at the same time returns of small-cap stocks can be volatile. Would this five-year close-ended scheme deliver? Axis Mutual Fund recently filed an offer document with the Securities and Exchange Board of India (SEBI) to...

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Moneylife Digital Team 25 April 2013
Euro Finmart carried out enrolment work for Aadhaar number at a housing society in Mumbai. Oriental Bank of Commerce, which appointed the agency, said the work was illegal. Finally after a call to the OBC CMD's office, the residents were issued registration acknowledgement receipts for their...

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With some sixty days to go for the much hyped new banking licences, the recent news of the Parliamentary Standing Committee on Finance expressing serious views that the guidelines may lead to corrupt practices, makes one wonder what these guys were doing so long   The last date for...

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Moneylife Digital Team 25 April 2013
A cost surge is imminent in the Indian IT sector because of  higher US visa fees, increase in visa rejections and declining utilisation due to reducing fungibility vis-à-vis H-1B holders, says Edelweiss The US immigration draft bill to be introduced in the Senate will, without doubt,...

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Moneylife Digital Team 25 April 2013
While rejecting the exemption claimed by the PIO under Section 8(1)(d), the CIC said if this is the normal tendering process, then the rates in e-tendering can also be disclosed. This is the 80th in a series of important judgements given by former Central Information Commissioner Shailesh...

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