ECONOMY & NATION


Moneylife Digital Team 02 April 2014
The RBI has granted in-principle approval for new bank licences to IDFC and Bandhan Financial Services The Reserve Bank of India (RBI) on Wednesday gave its in-principal nod for new bank licences to IDFC and Kolkata-based Bandhan Financial Services Pvt Ltd.   It must be noted...

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Moneylife Digital Team 02 April 2014
The apex court agreed to withdraw Spigelman following contention from Indian government about his name being mentioned in the list proposed by RIL as an independent arbitrator earlier The Supreme Court on Wednesday withdrew the name of Australian James Spigelman, former Chief Justice and...

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Moneylife Digital Team 02 April 2014
Candidates declaring a jump of Rs2 crore in value of their immovable assets since last polls would also trigger such red flags and face taxmen For the first time, candidates with assets of over Rs5 crore without a PAN card are set to come under the scanner of Income Tax (I-T) department...

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Moneylife Digital Team 02 April 2014
The order comes after Samsung chairman moved the Supreme Court seeking to quash a criminal case and non-bailable warrants issued against him The Supreme Court asked Lee Kun-hee, chairman of Samsung Electronics to appear before a trial court at Ghaziabad in a cheating case.   A...

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Airlines need to extend cooperation with other carriers in business. But should they decide to choose or act in the manner of ‘survival of the fittest’, God save the rest! SpiceJet's low offer of fare rate at Re1, with conditions attached, met a negative response from the Director...

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Moneylife Digital Team 01 April 2014
Affirming the stand taken by RBI governor, the EC allowed the central bank to take appropriate action on issuing new bank licenses The Election Commission (EC) has allowed Reserve Bank of India (RBI) to take action on new banking license as 'appropriate'. "RBI can go ahead with in-...

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Moneylife Digital Team 01 April 2014
While reducing the tax exemption age for senior citizens to 60 years, the finance ministry rejected Parliamentary Committee’s proposal to raise income tax exemption limit to Rs3 lakh The Finance Ministry has rejected a Parliamentary Standing Committee’s recommendation to raise the...

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Moneylife Digital Team 01 April 2014
Foreign assets in India increased by $39.9 billion due to higher deposits, direct investments, equity and other investments During the December quarter, foreign owned assets in India increased by $39.9 billion to $776.1 billion over the previous quarter while Indian residents’...

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It may be presumed that Reliance will have to continue its supplies of gas, "on account basis", because, so far, no clear announcement has been made as to what would happen to pricing of natural gas It took several months of negotiation. From a high production, the fall in gas supplies...

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Moneylife Digital Team 31 March 2014
Mahindra group has merged its subsidiary, Mahindra Truck and Buses Ltd with its M&M Ltd for achieving greater synergy business Mahindra & Mahindra Ltd (M&M), one of the largest tractor manufacturers in the world, has informed in a regulatory filing that it has completed the merger of...

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Moneylife Digital Team 31 March 2014
Former Union Secretary EAS Sarma who along with others obtained a landmark order from Delhi HC on illegal foreign funding of political parties has called on the Election Commisison to initaite immediate against political parties and Vedanta group Following a Delhi High Court order that...

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The new government may take months before the roadblocks to resume full-scale production We had recently covered various issues relating to the coal production in the country and the enormous difficulties that the exclusive monopolistic producer, Coal India, faces in its day to day...

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Chinese currency Yuan or Remminbi has been rock solid until recently. This created carry trade of faking of exports, getting in foreign exchange and buying a rising renminbi. Now that the Chinese currency has dropped what happens? There was one major emerging market currency that was not...

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Last year, SEBI stopped the SMS menace of SMS Techsoft when it found the company promoters and directors using this to offload their shares. This week, there is a surge in volume in Patidar Buildcon shares after ‘intra-day tip’ SMSes. Is SEBI aware about this? As the stock markets are...

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Piped gas from Myanmar is far more realistic and practical than expecting the Iranian gas to travel through Pakistan to reach India Although the question of upward revision of gas prices has been going on for more than a year, and is in line with the contractual obligation, and duly...

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RBI has tried to push the inflation index bonds with additional commission for distribution and doubling the investment limit. But the product has not caught the fancy of investors. Find out why different customer segments shunned the product that is open till 31st March Reserve Bank of...

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Moneylife Digital Team 26 March 2014
Being an election year, domestic revenues for Tata Consultancy Services are expected to decline in March quarter, thus impacting its overall growth, says SBI Cap Securities Demand environment for Tata Consultancy Services (TCS) would remain as there is an improvement in discretionary...

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Should we really prevent the government from announcing and acting on matters that have been going on for some time or simply postpone it and take a vacation from work till the elections are over? The elections are scheduled to take place from 7th April and the process is spread over a...

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Moneylife Digital Team 25 March 2014
Tata Power is raising about Rs2,000 crore through a rights issue for paying its debts and capital expenditure. The issue is priced at Rs60 per share, including a premium of Rs59 a piece Tata Power Co Ltd said it would raise about Rs2,000 crore through a rights issue for paying its debts...

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India, the world’s second largest food producer, is witnessing growing distress and declining confidence in agriculture as most small and landless farmers, with less of a stake, are found to quit farming The recent unseasonal heavy rains, thunder and hailstorms originating from unusually...

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