ECONOMY & NATION


The Supreme Court on Tuesday indicated that Congress Vice President Rahul Gandhi would have to face trial in a defamation case filed by an RSS activist for allegedly accusing the organisation for assassination of Mahatma Gandhi.   "You can't make collective denunciation of an...

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The Ministry of Finance on Tuesday announced the much-awaited capital infusion of Rs22,915 crore towards the recapitalisation of 13 public sector banks during 2016-17, with the largest amount earmarked for the country's largest lender, the State Bank of India.   "In line with the...

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In a move designed to reduce tax litigation, the Central Board of Direct Taxes (CBDT) on Monday signed seven more unilateral Advance Pricing Agreements (APAs) with Indian taxpayers.   "With today's signing, the total number of APAs entered into by the CBDT has reached 77. This...

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Jaideep Sarin (IANS) 18 July 2016
On a day when AAP national convener Arvind Kejriwal was seeking penance at the holiest of Sikh shrines, the Harmandir Sahib in Amritsar, a political drama was unfolding in New Delhi that could change the course of Punjab politics ahead of the state assembly elections.   The...

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Aroonim Bhuyan (IANS) 18 July 2016
The ruling by the Permanent Court of Arbitration (PCA) in The Hague on the South China Sea dispute in favour of the Philippines may have come as a setback for China but it will not stop Beijing from continuing with its quest for maritime hegemony in the region.   "The reaction of...

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Reserve Bank of India Governor Raghuram Rajan believes the current value of the rupee is 'pretty reasonable' and devaluation may not be the key to increasing exports.   Any devaluation of the rupee will have inflationary impact offsetting any benefits the economy may get from...

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Abhay Datar 18 July 2016
Only those who lost money to the Ponzi schemes of the 1990s would probably remember how they used to lure people into their trap. The entrapment continues even today and people lose tens of thousands of crore rupees to a variety of Ponzis that are proliferating even today. But I want to share...

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Vatsal Srivastava (IANS) 18 July 2016
Move over Brexit. The big talk in the financial markets right now is a meeting between former US Fed chairman Ben Bernanke and Japanese Prime Minister Shinzo Abe and his key economic advisors last week.   Bernanke, also dubbed 'Helicopter Ben' since the early 2000s after advocating...

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Moneylife Digital Team 15 July 2016
India's wholesale price index (WPI)-based inflation rose to a higher-than-expected 1.6% in June from 0.8% in May entirely driven by food prices. This data from June also reflect weak pricing power of corporates, says Nomura in a report.   The research note says, "Despite rising input...

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Millionaire money-lender, Datta D Phuge, famous as 'Pimpri Goldman' was found clobbered to death near Dighi here on early Friday morning, police said.   The high-profile businessman's vehicle was accosted by some unknown persons on the outskirts of the city late on Thursday...

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At least 80 people were killed on Thursday night when a large truck mowed through a crowd celebrating Bastille Day in Nice. French President Francois Hollande said the truck attack was of a "terrorist character".   In a press conference on Friday morning, Hollande said "the state of...

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Global software major Infosys on Friday reported Rs3,436 crore consolidated net profit for first quarter (April-June) of this fiscal (2016-17), a 13.4% annual growth.   In a regulatory filing to BSE, the IT major said consolidated revenue for the quarter (Q1) grew 16.9% year-on-year...

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Moneylife Digital Team 14 July 2016
The Central Board of Direct Taxes (CBDT) on Thursday issued a clarification that says the declarant will not get any immunity under the Income Declaration Scheme, 2016 (the scheme or IDS) in respect of undisclosed income utilised for payment of tax. Moneylife on Tuesday highlighted how black...

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Ballooning prices of food articles pushed up India's annual wholesale price index sharply to 1.62% for June from 0.79% for the month before. This kept the inflation level in the positive domain for the third month after 17 months in the negative.   The annual inflation for potatoes,...

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Cezary Podkul (ProPublica)  and   Tor Johannesson (Børsen) 14 July 2016
A Danish politician is asking the European Commission to examine stock loan deals that drain the country and many of its neighbors of tens of millions of dollars in forgone tax revenues.   The request, made by Jeppe Kofod, a Danish member of the European Parliament, could open a new...

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Moneylife Digital Team 13 July 2016
Limited availability of growth capital for public sector banks (PSBs) could pull down their loan growth trajectories to a CAGR of 9% over FY16-FY19, says India Ratings and Research (Ind-Ra).    This growth is the bare minimum needed to generate sufficient spreads that can absorb...

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The Cabinet here on Wednesday approved 15% divestment of the government's stake in National Buildings Construction Corporation Limited (NBCC) aiming to collect approximately Rs1,706 crore.   “The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has...

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Yoga guru Ramdev is now aiming to test waters in dairy and baby-care products to expand Patanjali's 'swadeshi' consumer products portfolio that is expected to clock a turnover to Rs10,000 crore this fiscal.   In research and development (R&D), he's investing Rs150 crore in an upcoming...

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Moneylife Digital Team 13 July 2016
The consumer price index (CPI) inflation jumped to 5.77% in June 2016 compared with 4.83% in March 2016. CPI inflation has now jumped by 94 basis points in a span of three months. For any country that aspires for inflation targeting this does not augur well. However hidden behind such number...

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Indian Hotels Company Limited (IHCL), which runs the brand of Taj Hotels Resorts and Palaces, here on Wednesday announced completion of the sale of its Taj Boston hotel to a consortium comprising New England Development, Eastern Real Estate, Rockpoint Group, Lubert-Adler and Highgate for $125...

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