ECONOMY & NATION


Moneylife Digital Team 20 October 2014
Jindal Steel and Power is already facing CBI probe for alleged cheating and misrepresentation of facts in bagging the Amarkonda Murgadangal block in Birbhum district of Jharkhand in 2008   Jindal Steel and Power Ltd shares fell by over 13% in early trade Monday on the BSE and National...

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Blames lax regulations for high NPAs when the real cause is widespread corruption in public sector banks   The State Bank of India (SBI) chairperson Arundhati Bhattacharya, in an interview with Financial Times, has called for shake up in the regulatory system, as if SBI and its...

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Moneylife Digital Team 17 October 2014
Jayalalitha gets interim bail from Supreme Court   The Supreme Court on Friday granted interim bail to Tamil Nadu’s former Chief Minster J Jayalalitha. Earlier, Jayalalithaa was denied bail by the Karnataka High Court. She is in jail following her conviction in a disproportionate...

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Moneylife Digital Team 16 October 2014
As many as 61 thermal power stations out of 103 are grappling with critical coal shortage with less than a week’s stock at their disposal. Even NTPC, the country’s largest thermal power producer is battling with 0-1 day of stocks at some of its plants   Fuel stockpiles at all the...

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Moneylife Digital Team 16 October 2014
Mayaram, the topmost bureaucrat in the Finance Ministry is replaced by Rajiv Mehrishi, the top bureaucrat from Rajasthan   In a major re-shuffle of top-level babus, the Narendra Modi government on Thursday transferred Arvind Mayaram from finance ministry to tourism ministry. Mayaram,...

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Moneylife Digital Team 16 October 2014
Google also launched next version of its Nexus 6 smartphone, an aluminium frame device that has a six-inch high resolution screen and a 13-megapixel camera   Google has ramped up its mobile arsenal, upgrading its Nexus line with a new tablet and smartphone, and unveiling its revamped...

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Moneylife Digital Team 15 October 2014
The average voter turnout in the assembly elections in Maharashtra was over 60% while for Haryana it was above 72%. There were some incidents of EVM malfunctioning in both states   Maharashtra witnessed brisk polling as the state went to polls Wednesday to elect a new government, with...

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Who is behind this strange rush to legitimise MLMs?   At one end of the spectrum, we have lots of action against shady money collection schemes—whether in the guise of chit funds or recurring deposits. Subrata Roy of the Sahara Pariwar remains in jail since March. Pramatha Nath Manna,...

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Moneylife Digital Team 14 October 2014
According to Nomura, assembly elections in Maharashtra and Haryana would help BJP to consolidate its position in Rajya Sabha and underline the Modi wave. In case there is hung assembly, there would be re-elections, increased uncertainty and this will raise doubts about BJP’s ability to carry...

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Moneylife Digital Team 14 October 2014
The Bangalore Police are investigating Adooye.com, which was selling a ‘package' that promised money for watching online advertisements and enrolling new members, in a classic money circulation scheme. The MLM, which reportedly collected over Rs600 crore has quietly shut shop and left over...

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Moneylife Digital Team 13 October 2014
While two-wheelers maintained their growth in September, domestic car sales remain muted owing to the 15-days shraddha period after Ganesh visarjan   September 2014 turned out to be a good month, especially for commercial vehicle sales and three-wheelers. While two-wheelers maintained...

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Moneylife Digital Team 13 October 2014
The partnership will initially focus on Future Group’s 40 fashion brands and will subsequently cover all other categories   Kishore Biyani-led Future Group and retail giant Amazon on Monday entered into a partnership to build on synergies of experience in online and offline...

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Moneylife Digital Team 11 October 2014
Bankers are under tremendous pressure to meet targets, so banking correspondents, who are paid higher commissions are taking the same set of people from one bank to another to open multiple accounts. A huge waste of time and money later in weeding out dormant and multiple accounts seems...

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Moneylife Digital Team 10 October 2014
A subsidiary of the London-based investment services company Growth Capital Partners, Chaucer Capital has cried foul over Maharashtra Government's breach of contract   London based Chaucer Capital, a real estate investment company, said that it will be filing a writ against the...

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Moneylife Digital Team 10 October 2014
A division bench of chief justice Mohit Shah and justice MS Sanklecha held that as there was no taxable income arising out of the transaction so there should be no transfer pricing provisions applicable to it   The Bombay High Court on Friday ruled in favour of telecom major Vodafone...

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Under the new Investment Policy for New Urea Plants, the government has sought the private sector applicants to provide bank guarantee of Rs300 crore that would be released related to various stages of completion of the project   Last week, Madras Fertilisers Ltd (MFL) went off...

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Moneylife Digital Team 09 October 2014
Although, investors continue to be jittery, perceiving the anticipated launch by R-Jio as disruptive, Edelweiss said the RIL unit is unlikely to make profits till FY19. In addition, established players like Bharti Airtel and Idea Cellular are not constrained by resources and can counter any...

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The government needs to do a quick policy review to cover simultaneous extraction of coal and methane. Existing coal block allottees should be cleared to proceed with plans for extracting methane gas without any further delay   Since 1950, methane gas, or coal bed methane (CBM) as it...

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Moneylife Digital Team 09 October 2014
The Modi government has asked states to try a scheme of excluding income tax payers and Class I and II officers from PDS. Madhya Pradesh government is already implementing a scheme on these lines   Incomes Tax (I-T) payers and ranking officials in government may be out of the ambit of...

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Moneylife Digital Team 09 October 2014
The move would help in promoting wider investor base in listed state-run companies and also provide a boost to the government’s plan to raise funds from disinvestment programme   Paving the way for sale of public sector unit (PSU) shares worth an estimated Rs60,000 crore over next...

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