ECONOMY & NATION


Sunil Mahajan 27 June 2016
“The most useful thing about a principle is that it can always be sacrificed to expediency.” -W Somerset Maugham   Going through life involves making choices. Some may be mundane, for instance whether to go for work or take leave to watch a movie. Other choices are more substantive,...

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The Meghalaya cabinet on Friday decided to urge the central government to exempt the state from the purview of the Coal Mines (Nationalisation) Act, 1973, following the National Green Tribunal's ban on rat-hole coal mining in the state.   "The cabinet has mandated the state's mining...

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Moneylife Digital Team 24 June 2016
Britain's decision to opt out of the European Union-EU (Brexit) has rattled markets across the world. With the Brexit result only a few hours old and the situation extremely fluid it is extremely difficult to forecast the economic and financial impact on Asia, however Nomura feels financial,...

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Moneylife Digital Team 24 June 2016
Britain's decision to opt out of the European Union-EU (Brexit) rattled Indian financial markets on Friday, shaving some over 1,000 points, or 4%, off Sensex, a key equities index, while pulling the rupee below the $68 mark. The British pound dropped 11% to its lowest level in over three...

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BlackBerry, the Canadian mobile company sold just 5 lakh phones globally in the first fiscal quarter - down from six lakh in the previous quarter - reporting a $ 670 million loss which is its biggest loss in over two years.   Although much of the loss was down to restructuring...

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Fears of Britain exiting from the Europan Union (EU) as a result of a historic referendum held on Thursday, has pushed the value of the pound on Friday to its weakest level against the dollar in 31 years.   Market expectations that Britain is on the verge of voting to leave the EU...

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Moneylife Digital Team 23 June 2016
The Reserve Bank of India (RBI) is concerned about the extent of micro, small and medium enterprises (MSME) loans backed by the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), and regulatory oversight of the scheme, says a report from Live Mint.    Citing...

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New Delhi: India's cabinet on Wednesday cleared the base price for the country's largest spectrum auction to date, expected to fetch around $85 billion at the approved reserve price, address the menace of mobile phone call drops and give a push to 4G data communications.   The...

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Moneylife Digital Team 22 June 2016
Reserve Bank of India (RBI) Governor Dr Raghuram Rajan has blamed the slowdown in credit growth to stress in public sector banking (PSBs) and not because of high interest rates. "...what is required is a clean-up of the balance sheets of public sector banks, which is what is underway and...

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At a time when calls through Skype, Viber and Whatsapp are gaining popularity with every passing day, the Indian telecom watchdog on Wednesday issued a consultation paper on Internet Telephony seeking stakeholders' opinions on various matters ranging from additional entry fee, call...

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Sunil Mahajan 22 June 2016
Discipline is not a natural trait amongst Indians. We do not like to be constrained by boundaries. We want to retain the freedom, for instance, to tell the Reserve Bank of India (RBI) Governor to reduce interest rates, even if we cannot distinguish cash reserve ratio (CRR) from euro currency....

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BJP leader Subramaniam Swamy on Wednesday targeted Chief Economic Advisor Arvind Subramanian and asked the government to “sack” him.   In a series of tweets, Swamy wrote, "Who said to US Cong on 13/3/13 the US should act against India to defend US Pharmaceuticals interests? Arvind...

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Most of the telecom service providers, except Airtel 2G and 3G and Vodafone 2G, in the Mumbai circle have failed to meet call drop rate benchmark of less than 2%, said sector regulator TRAI in a statement on Tuesday after conducting a drive test.   IMRB International has carried out...

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Even before the entry into force of the Paris climate agreement that saw global jubilation just six months ago, we are faced with the possible risk of exit by referendum from the pledge of an ambitious reduction in the emission of Green House Gases (GHGs).   The United Kingdom, one of...

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Moneylife Digital Team 21 June 2016
The Reserve Bank of India (RBI)'s Governor Dr Raghuram Rajan, as per his own communication to his colleagues, will not continue at the post after 4 September 2016. Following this, the domestic and global media have gone into paroxysm of lament and berated the Narendra Modi government for...

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A court, under the Prevention of Money Laundering Act (PLMA), has declared Vijay Mallya, the industrialist who liked to flaunt the good life in peoples’ faces, a ‘proclaimed offender’. All the protestations by his industrialist friends—that Mr Mallya is being summarily judged in a media trial...

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The decision of Dr Raghuram Rajan not to continue or seek second term as governor of Reserve Bank of India (RBI) has finally ended months of speculations. However, at the same time, the way this issue was being kept alive through media, brings some other important issue of reforms within the...

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Biswajit Choudhury  and   Meghna Mittal (IANS) 20 June 2016
Markets bracing for the Monday of the week of "Brexit", when Britain possibly exits from the European Union, will now, following the BSE Sensex fall of 400 points last week provoked by this possibility, now have to contend with the shock news of RBI Governor Raghuram Rajan's Saturday decision...

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Global credit rating agency Moody's Investors Service on Monday said the three recent regulatory changes made by India will have transformative implications for its structured finance market.   "The changes will improve returns to investors, promote foreign investment, and improve the...

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Putting its economic liberalisation agenda on the fast track, India on Monday relaxed its foreign equity norms further, notably in defence, aviation, pharmaceuticals and retailing, with automatic approval rather than a case-based route as the preferred model.   In aviation, extant...

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