DAILY NEWS: OUR PICKS


Moneylife Digital Team 25 March 2013
The PIO of Food and Supplies Department refused to provide information about rations cards without claiming any exemption under the RTI Act. This is the 63rd in a series of important judgements given by former Central Information Commissioner Shailesh Gandhi that can be used or quoted in an...

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Moneylife Digital Team 25 March 2013
In a stinging response to RBI deputy governor Dr Chakrabarty's shocking and sweeping denial of a money-laundering scam, Cobrapost points out that as signatory to Financial Action Task Force on Money Laundering, India and the RBI have a treaty obligations to block precisely the kind of dubious...

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We may have to wait till RBI makes known its monetary policy stance for 2013-14 sometime in April-May, 2013. Till then interest rates may continue at the present level, as no bank has committed to lower the base rate even after a week of the announcement of the mid-quarter monetary policy...

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Moneylife Digital Team 23 March 2013
If Nifty closes above 5,690 it may target 5,825   The Indian market closed in the negative for second week in a row, this time on political developments and concerns about further rate cuts raised by Reserve Bank of India (RBI) in its mid-quarter policy review earlier this week. The...

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Moneylife Digital Team 23 March 2013
The Gujarat High Court has directed the Ahmedabad Municipal Corporation to investigate continued sale of plastic bags in shops despite a directive to charge for plastic bags which expired in April 2012. Some retailers are now even making consumers pay for paper bags which also violates norms

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Jeff Gerth (ProPublica) 23 March 2013
A jury awarded $5 million to a patient and his wife after it found GE Healthcare did not adequately warn patients and doctors about the risk of its imaging dye, Omniscan. It was the first case involving the dye to go to trial In a setback for GE Healthcare, a jury on Friday found that...

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There is sufficient evidence where bank relationship managers emerge out of clients’ residences with suitcases full of currency notes counted on the bank’s notes counting machines. What more evidence is the RBI waiting for? Reserve Bank of India (RBI) deputy governor Dr KC Chakrabarty’s...

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One of the key risks posed by the bank subsidiary model is that the parent bank is directly exposed to the functioning of various subsidiaries and any losses incurred by the subsidiaries inevitably affect the bank balance sheets. Such risks can be mitigated largely by the FHC structure, the...

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Moneylife Digital Team 22 March 2013
Nifty is oversold and will rally next week once it closes above 5,690 The market settled in the red on global concerns and domestic political worries, making it the sixth consecutive closing in the negative and the lowest closing since 26 November 2012.   The Nifty is oversold and...

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Moneylife Digital Team 22 March 2013
Electronic postal order is a big achievement for Indian citizens abroad who have been pressing the government for the last five years to facilitate them in nation building by exercising their right to know The Postal department (DoP) has launched Indian postal order in electronic format...

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Moneylife Digital Team 22 March 2013
When online payments are expanding at a phenomenally high growth rate of 30% every year, does it need the “artificial push” from the banking regulator? And that too at the cost of the banking public, majority of which is still dependent on the chequebook system? The Reserve Bank of...

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Moneylife Digital Team 22 March 2013
While the UIDAI has maintained Aadhaar is voluntary, why then people are being threatened that they cannot access any services or benefits unless they enrol for the UID scheme, the PIL says   The Bombay High Court today directed the Unique Identification Authority of India (UIDAI) and...

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Moneylife Digital Team 22 March 2013
EAS Sarma, former power and finance secretary, fears for safety of nuclear energy because he feels the Department of Atomic Energy that is planning for 60,000 MW has not been transparent and it would eventually cost Rs3.90 lakh crore to Indian taxpayers! EAS Sarma, former secretary of...

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Moneylife Digital Team 22 March 2013
A citizen can seek information under the RTI Act, irrespective of his official designation. Also information about a dead person’s PF account and his contributions can be disclosed, as such disclosures cannot be considered invasion on the privacy of the dead, ruled the CIC. This is the 62nd...

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The power of RTI was realised by this citizen who followed Moneylife’s instruction to use RTI, as he was unable to get his passport, despite police verification having been submitted Ever since Moneylife has begun the passport campaign, it has been urging passport applicants to file an...

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Moneylife Digital Team 21 March 2013
Moneylife Foundation was joined by members of All India Bank Depositors’ Association, Mumbai Grahak Panchayat, All India Bank Employees’ Association and Mumbai Mahanagar Vyapari Seva Parishad in its campaign against the RBI’s foolhardy proposal to disincentivise the issuance and usage of...

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Moneylife Digital Team 21 March 2013
To remove the propensity of cooperative banks to follow borrower-oriented policies rather than policies that protect the interests of the depositors, it is necessary to have new a organisational structure of the Board of Management and Board of Directors The Working Group (WG) set up by...

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Moneylife Digital Team 21 March 2013
Nifty will try to find a foothold around 5,600 and attempt a rally till 5,700 in a laboured manner   The market decline continued for the fifth day, paring its gains in the second half of the trading session, on weak global cues and selling in rate-sensitive sectors. The Nifty will...

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Moneylife Digital Team 21 March 2013
Overruling the PIO’s claim for exemption citing Section 8(1) (j), the CIC said it was unthinkable how a person can invade his own privacy. This is the 61st in a series of important judgements given by former Central Information Commissioner Shailesh Gandhi that can be used or quoted in an RTI...

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There is no denying the fact investments in equity is a must for wealth creation but if the performance of the stock market continues to be as pathetic as it has been in the recent years, retail investors will continue to keep away from markets For retail investors, the experience of...

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