ECONOMY & NATION


Moneylife Digital Team 19 September 2017
While industry has been in direct touch with the government to lobby for concessions in the Goods and Services Tax (GST), there is no lobby for the ordinary, tax-paying, and aspirational citizen of India. In most democracies, it is the elected representatives who take up such issues, but...

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IANS 18 September 2017
Increase in volume of digital transactions, widening of tax base and squeezed circulation of high denomination currency were the real measures of success of demonetisation, Finance Minister Arun Jaitley said on Monday.   The success of the November 2016 note ban came under attack...

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Meghna Mittal (IANS) 18 September 2017
State Bank of India (SBI) expects to collect Rs 2,000 crore as penalty on savings bank accounts which have failed to maintain a minimum balance, a sum which may be used to partly cover the costs incurred on the linking of accounts with Aadhaar.   The recent directive of the government...

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IANS 16 September 2017
An exponential increase in merchandise imports during the first quarter (April-June) of 2017-18 pushed India's current account deficit (CAD) higher to $14.3 billion, or 2.4 per cent of the GDP, from $0.4 billion reported for the like period of 2016-17.   According to data released by...

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IANS 15 September 2017
The Supreme Court on Friday declined realty major Unitech's Managing Director Sanjay Chandra's interim bail plea.   The bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice D.Y.Chandrachud said that amicus curiae Pawan Shree Agrawal would create a portal having all...

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IANS 15 September 2017
Transitional credit claims worth a whopping Rs 65,000 crore received from traders under GST have stumped the government and the tax authorities are now preparing to check the veracity of claims of over Rs 1 crore.   The Central Board of Excise and Customs (CBEC) has asked its...

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IANS 15 September 2017
The government on Thursday invited bids from firms to appoint advisers to aide in the divestment of national passenger carrier Air India.   According to two separate notices on the Department of Investment and Public Asset Management's website, the proposal for advisers have been...

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Indian banks, particularly the public sector banks (PSBs) including SBI and its associates, have been victims of very high non-performing assets (NPAs) and other distressed assets camouflaged as restructured assets. The malaise has been compounded by the extremely slow legal process for...

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IANS 14 September 2017
A massive jump in food prices pushed up India's wholesale price-indexed (WPI) inflation in August at 3.24 per cent to nearly double that of July, official data showed on Thursday.   According to data released by the Commerce Ministry, the annual rate of WPI inflation in July was at...

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IANS 14 September 2017
The green court on Thursday dismissed the government's plea seeking modification to an earlier order banning 10-year-old diesel vehicles in the National Capital Region (NCR) as emissions from the fuel can cause cancer. The National Green Tribunal (NGT) noted that one diesel vehicle causes...

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IANS 14 September 2017
HCL Infosystems Ltd's Chief Financial Officer (CFO) S.G. Murali has resigned to pursue new career opportunities, the software major said on Thursday.   "Murali has informed the company about his decision to relinquish the group CFO position from Friday to pursue new career...

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Moneylife Digital Team 14 September 2017
In an astonishing disclosure, the Reserve Bank of India (RBI) has said that its much-touted Internal Ombudsman (IO) or his details do not need to be disclosed to the consumer. The IO can only be approached by the bank, which will make a representation without any obligation to inform the...

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IANS 14 September 2017
Amazon.com seems to have deleted over 900 online reviews of the book "What Happened" penned by former US Secretary of State Hillary Clinton.   The move came after publishers felt that the writers did not actually read the book.    The book, which went on sale on Tuesday, has...

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IANS 13 September 2017
The government cannot change fuel prices on a knee-jerk basis, Petroleum Minister Dharmendra Pradhan said on Wednesday on a day when stocks of state-run oil marketing companies (OMCs) tanked by as much as eight per cent following recent hikes in transport fuel prices.   "The...

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IANS 13 September 2017
The Enforcement Directorate (ED) on Wednesday filed a chargesheet against the woman director of a Dubai-based company in a money laundering case related to AgustaWestland VVIP chopper deal.   The chargesheet was filed before Special Judge Arvind Kumar, who listed the matter for...

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IANS 13 September 2017
India has been placed at 103 rank on the World Economic Forum's (WEF) Global Human Capital Index, which is topped by Norway.   Among the South Asian countries, India falls behind Sri Lanka (70) and Nepal (98), and is just ahead of Bangladesh (111) and Pakistan (125). The country has...

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Moneylife Digital Team 13 September 2017
Poor retail consumers trying to draw the attention of regulators about extortionate banking service charges now have an unlikely ally: employees of the Reserve Bank of India (RBI)!   Banks have been increasing the penalty and other charges on customers -- because the RBI’s regulations...

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IANS 12 September 2017
India's factory output in July rose by 1.2 per cent from June's contraction of 0.16 per cent, official data showed on Tuesday.   However, on a year-on-year basis, the output was lower when compared to a rise of 4.5 per cent reported for July, 2016.   Disclaimer:...

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IANS 12 September 2017
The Cabinet on Tuesday gave its approval for hiving off mobile tower assets of Bharat Sanchar Nigam Limited (BSNL) into a separate company, fully owned by BSNL.   "This approval authorizes BSNL to monetize its telecom tower infrastructure with the formation of a separate subsidiary...

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IANS 12 September 2017
The Union Cabinet on Tuesday gave its approval for an increase of one per cent additional Dearness Allowance (DA) to central government employees and Dearness Relief (DR) to pensioners to compensate for price rise.   This additional instalment of DA represents an increase of one per...

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