ECONOMY & NATION


Moneylife Digital Team 05 June 2018
In a rare case of sending a person to jail for evading tax, a Court in Delhi has sentenced two persons for three years in jail. The Court also imposed a fine of Rs3 lakh each despite the fact that both were first-time offenders.    The Income Tax Department, which has filed more than...

Read More



Moneylife Digital Team 05 June 2018
IndusInd Bank Ltd on Tuesday said it has received a 'no-objection' from National Stock Exchange (NSE) and BSE for merger of Bharat Financial Inclusion Ltd with itself.    The "no-objection" is based on the draft scheme and other documents submitted by IndusInd Bank, including...

Read More



State-owned Bank of Baroda on Tuesday said it will hike its benchmark marginal cost of funds based lending rate (MCLR) by 5 basis points, across various tenures from June 7.   "The bank's 1-year MCLR will be 8.45 per cent, which is competitive as per the current market scenario," the...

Read More



Moneylife Digital Team 05 June 2018
An organisation called the Indian Investor Protection Council (IIPC), has sent a second letter alleging a nexus between Deepak Kochhar, husband of Chanda Kochhar, managing director and chief executive (CEO) of ICICI Bank and Essar Group headed by Shashi and Ravi Ruia. The Council, in a letter...

Read More



Two cases have been registered in Jharkhand's Khuti district against a gram sabha leader and others on charges of opening an illegal rural bank and laying its foundation stone, police said on Tuesday.   The FIRs were lodged at Murhu police station on Monday, including the one in which...

Read More



Two cases have been registered in Jharkhand's Khuti district against a gram sabha leader and others on charges of opening an illegal rural bank and laying its foundation stone, police said on Tuesday.   The FIRs were lodged at Murhu police station on Monday, including the one in which...

Read More



The Enforcement Directorate (ED) on Tuesday questioned former Finance Minister P. Chidambaram here in a probe into the FIPB's approval to the Aircel-Maxis deals.   Chidambaram appeared at the ED's office around 11 a.m. -- within an hour after a city court extended the interim...

Read More



Farmers across the nation are on strike, cutting off vegetables and milk supplies to cities, demanding better prices, loan waivers, power supply and ethanol as fuel -- all this hailing from the Swaminathan Commission's recommendations. It makes one wonder if the agricultural sector is indeed...

Read More



Farmers across the nation are on strike, cutting off vegetables and milk supplies to cities, demanding better prices, loan waivers, power supply and ethanol as fuel -- all this hailing from the Swaminathan Commission's recommendations. It makes one wonder if the agricultural sector is indeed...

Read More



Dr Bradnee Chambers (IANS) 05 June 2018
Thanks to the wonders of modern industrial technology we are now producing 20 times as much plastic as we were doing in 1964. If the current trend continues, output will double in 20 years and double again by 2050.   Our hunger for the convenience of plastic products is insatiable....

Read More



Members of a Parliamentary Committee on Monday grilled top executives of public sector banks on the issue of non-performing assets as well as the huge fraud involving diamantaire Nirav Modi and Punjab National Bank and demanded that the banks come out with a road map to tackle the problem of...

Read More



Shrikrishna Kachave 04 June 2018
The strike called by Gramin Dak Sevaks (GDS) entered into 15th day Monday with the Central government still not paying any heed to their demands. Consequences are that, the postal service in rural parts of the country has been adversely affected and the citizens are been deprived of their...

Read More



The Supreme Court on Monday said that Binani Cement's Committee of Creditors (CoC) is not debarred from considering the revised Ultratceh bid to acquire the beleaguered company but restrained it from taking a final decision.   Refusing to debar the CoC from carrying on with further...

Read More



The RBI's Monetary Policy Committee (MPC) meeting to decide on its second policy review of the fiscal got underway here on Monday to enable deliberations on interest rates the first time over a longer period of three days in the backdrop of surging global oil prices and higher domestic...

Read More



Members of the Parliamentary Standing Committee on Finance on Monday asked banks to come out with a roadmap to deal with non-performing assets (NPA) and suggested their redefining and classification of the bad loans.   At a meeting of the Committee here, the members also asked top...

Read More



Ideal financial societies provide safe and convenient ways of managing simple monetary affairs. Financial inclusion is the philosophy of providing affordable, safe, accessible, and properly regulated financial tools to the people. These tools enable saving and responsible borrowing and allow...

Read More



Noshir H Dadrawala 04 June 2018
From the ‘Show or Shame’ policy of 2014, the Ministry of Corporate Affairs (MCA) seems to be moving towards ‘Spend or get Spanked’ policy in the year 2018, barely four years after corporate social responsibility (CSR) was made mandatory for companies having either net-worth of Rs500 crore or...

Read More



Former IDBI Bank MD and Chief Executive M.K Jain was on Monday appointed a new Deputy Governor of the Reserve Bank of India (RBI) for a period of three years, an official statement said.   The appointment was made by the Financial Sector Regulatory Appointment Search Committee, which...

Read More



 In an age when plastic payments with credit or debit cards abound in many countries, "cash is king" still in Switzerland where it is used for 70 per cent of payments, a latest Swiss central bank survey has said.   Respondents to the Swiss National Bank (SNB) payments survey believe...

Read More



Moneylife Digital Team 01 June 2018
The Delhi High Court has issued a notice to the Reserve Bank of India (RBI) in a writ petition filed by the All India Bank Officers’ Confederations (AIBOC) challenging the 12th February circular with regard to classification of Non-Performing Assets (NPAs), which had pushed many public sector...

Read More

Free Helpline
Legal Credit
Feedback