ECONOMY & NATION


IANS 26 December 2016
India on Monday successfully test-fired its indigenously developed intercontinental surface-to-surface nuclear-capable ballistic missile Agni-V from the Abdul Kalam Island off the Odisha coast in Balasore district.   This is the fourth and final test of the missile, developed and...

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IANS 26 December 2016
Finance Minister Arun Jaitley on Monday said that India now needs to move to a lower level of taxation to be globally competitive.   "What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one...

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IANS 24 December 2016
The central government on Friday directed Amul -a dairy cooperative operated by Gujarat Cooperative Milk Marketing Federation - to ensure bank accounts for all milk producers by December 30 due to "non-availability of funds (cash) to the co-operative banks for making payments".   It...

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IANS 24 December 2016
A high-profile booze party at a farmhous outside this Gujarat city was busted late on Thursday and over 250 top figures, including former chairman of Indian Premier League (IPL) and leading industrialist Chirayu Amin, booked, police said.   "We have recovered 103 bottles of Indian...

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IANS 24 December 2016
Various airlines on Friday said passengers will not be permitted to carry power banks and e-cigarettes in their check-in baggage for safety purposes.   "We are trying to educate passengers on the new regulation that power banks and e-cigarettes are not allowed to be stored in the...

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IANS 24 December 2016
Tata Chemicals on Saturday said that a majority of its shareholders at its extra-ordinary general meeting (EGM) on Friday voted to remove Industrialist Nusli Wadia as an Independent Director of the company.   According to a Tata Chemicals' regulatory filing, over 58 per cent of total...

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Moneylife Digital Team 23 December 2016
Nusli Wadia, Chairman of the Wadia Group, has filed a criminal defamation case against Tata Sons, the holding company of the Tata Group and all its directors, including Ratan Tata.    Mr Wadia, in a complaint filed before the Additional Chief Metropolitan Magistrate, says, "...the...

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IANS 23 December 2016
The Supreme Court on Friday refused an urgent hearing of a PIL challenging a provision of the Income Tax Act exempting political parties from disclosing the identity of the doners contributing upto Rs 20,000.   Directing the listing of the PIL on January 11, a vacation bench of...

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IANS 23 December 2016
The Election Commission (EC) has delisted 255 political parties that existed only on paper and has asked the Central Board of Direct Taxes (CBDT) to initiate appropriate action, if necessary.   None of these parties have ever contested a local body, assembly or Lok Sabha election...

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IANS 23 December 2016
On the requirement for reporting cash payments exceeding Rs 2 lakh for sale of goods or services, the government on Friday clarified that the rule applies only to single transactions, which are not required to be aggregated for the purpose.   The Central Board of Direct Taxes (CBDT)...

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In recent RBI history, some highlights: smooth transition to Basel regulations and efficient monetary policy under Bimal Jalan and Rangarajan, global aplomb post-recession under YV Reddy, preventing hyperinflation by Subbarao and taming of the NPAs by Raghuram Rajan. These achievements have...

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IANS 23 December 2016
The Enforcement Directorate on Thursday attached assets worth Rs 1,250 crore of the Rose Valley Group including eight hotels and 12 high-end cars in connection with a chit fund scam, an official said.   "In this money laundering case, the agency issued the fourth attachment order...

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IANS 22 December 2016
 Despite much criticism, the Reserve Bank of India (RBI) has failed to give a credible account of the new notes supplied to the public.   In its latest press release on Wednesday, the RBI said it had sent out for distribution to the public 22.6 billion notes of various denomination...

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IANS 22 December 2016
The Enforcement Directorate (ED) on Thursday said it has arrested hawala trader Paras Mal Lodha here for converting over Rs 25 crore demonetised notes linked to industrialist J. Sekhar Reddy and lawyer Rohit Tandon into new currency. A city court later sent Lodha to seven-day ED...

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IANS 22 December 2016
People in the national capital and adjoining Noida and Gurugram satellite towns continued to suffer the pangs of cashlessness on Thursday -- the 44th day of demonetisation -- as most of the ATMS in the region remained dry.   Scores of people IANS spoke to said they have been visiting...

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IANS 22 December 2016
Tata Sons on Thursday said the National Company Law Tribunal (NCLT) has not granted any interim relief to its ousted Chairman Cyrus Mistry.   "The National Company Law Tribunal today (Thursday) did not grant any interim reliefs," Tata Sons said in a statement.    "The parties...

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IANS 22 December 2016
Lt. Governor Najeeb Jung on Thursday resigned and said he will return to academics, "his first love".   In a brief statement, Jung thanked both Prime Minister Narendra Modi as well as Delhi Chief Minister Arvind Kejriwal, with whom he had been locked in a turf battle for...

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Moneylife Digital Team 22 December 2016
Global experts in management and corporate governance such as John C Coffee and Paul Pelosi Jr have raised serious questions on the role played by Harvard Business School (HBS) Dean Nitin Nohria in the Tata imbroglio.  In the context of the $50 million donation to Harvard Business School on...

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IANS 22 December 2016
The union cabinet on Wednesday passed an ordinance to facilitate digital transfer of salaries by employers across the country. However, several trade unions associations and parties opposed the move, calling it impractical.   The government, while moving the ordinance to amend Section...

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IANS 21 December 2016
The RBI on Wednesday said it has imposed monetary penalty on five foreign banks for violation of its instructions on reporting requirements of the Foreign Exchange Management Act, 1999.   The five banks are Bank of America, Bank of Tokyo Mitsubishi, Deutsche Bank, The Royal Bank of...

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