ECONOMY & NATION


Moneylife Digital Team 25 August 2016
The Real Estate (Regulation and Development) Act (RERA) is being touted as the ultimate saviour for buyers, but most stakeholders still have doubts over the draft rules for the RERA circulated by the government.    According to Pankaj Kapoor, Founder and Managing Director of Liases...

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IANS 25 August 2016
The National Payments Corporation of India (NPCI) on Thursday said the Unified Payments Interface (UPI) will go live for customers of 21 banks.   The relevant details of the service would be available on the website of 21 banks, the NPCI said.   According to NPCI, the UPI...

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IANS 25 August 2016
Innovation worries us. At one level, many perceive it as a threat to their jobs and, in fact, to their way of thinking and behaving. It challenges what they are used to. At another and more profound level, there is genuine fear of failure. After all, not all innovations succeed. Indeed,...

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IANS 25 August 2016
The gross non-performing assets (NPAs), or bad loans, of India's state-run banks, measured as a percentage of their advances, have ballooned from 5.4 per cent as on March 2015 to 11.3 per cent 15 months later, as per latest data available with the central bank.   In contrast, such bad...

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Charlie Moloney (IANS) 25 August 2016
As many as 78 per cent of the 18,452 inhabitable villages the government set out to provide with power have been "electrified". However, 92 per cent of the 10,072 newly-electrified villages include homes which do not have electricity.   On August 22, 2016, the government issued an...

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IANS 24 August 2016
The Enforcement Directorate (ED) has summoned former Finance Minister P. Chidambaram's wife Nalini Chidambaram for questioning in connection with the multi-crore Saradha chit fund scam, an official said on Wednesday.   The official refused to divulge the date when she will be...

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IANS 24 August 2016
Reach of rural people to banks is not very encouraging even 47 years after nationalisation of a majority of the banks, President Pranab Mukherjee said here on Tuesday.   While the RBI and the ministry concerned are busy addressing the problem areas of non-performing assets and...

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IANS 24 August 2016
The Reserve Bank of India (RBI) is preparing a framework to provide accreditation to credit counsellors for facilitating easy flow of credit to the MSMEs (Micro, Small and Medium Enterprises), its Deputy Governor S.S. Mundra said here on Tuesday.   "For bridging the information...

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Moneylife Digital Team 23 August 2016
Piramal Enterprises and Bain Capital Credit have signed a Memorandum of Understanding (MOU) to create a strategic partnership to invest in restructuring situations in India, according to a release from Piramal. Once finalised, the platform will invest capital directly into businesses and...

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Moneylife Digital Team 23 August 2016
While the Indian economy is in motion, growth not accelerating as expected with private corporate investment recovery turning out to be the missing link, says a report.   In a report, India Ratings and Research (Ind-Ra) says, "The key factor that is holding the acceleration of...

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IANS 23 August 2016
The Board of Directors of Reliance Capital on Tuesday approved the induction of Anmol Ambani, the 24-year-old eldest son of Reliance Group Chairman, Anil Dhirubhai Ambani, on the Board of Reliance Capital as an Additional Director.   The induction follows the recommendation by the...

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Arvind Padmanabhan (IANS) 23 August 2016
In a bid to save fuel, cut emission and have better route utilisation, Indian carriers have suggested a new plan to the government that co-opts the air space controlled by the armed forces. It also calls for bypassing Pakistan while flying overseas to save navigation fees.   Called...

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Moneylife Digital Team 23 August 2016
On 12 August 2016, the Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo Ltd (ABNL) and Grasim Ltd. As part of the restructuring, the financial services arm, Aditya Birla Financial Services (ABFS), will also be subsequently demerged and listed separately....

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IANS 23 August 2016
The Central Bureau of Investigation (CBI) on Monday arrested the directors of West Bengal-based Ramel Industries Ltd in its ongoing probe into the multi-crore chit fund scam.   Ramendra Mohan Sarkar and Sukanta Deb, directors of Ramel Industries, were arrested on charges of criminal...

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IANS 23 August 2016
Former head of the Competition Commission of India (CCI) Ashok Chawla will take over as the non-executive part-time chairman of YES Bank -- the country's fifth-largest private sector bank -- in October as the RBI has given approval for the appointment, the bank said on...

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IANS 23 August 2016
Flood situation in many parts of Uttar Pradesh has worsened and schools were closed for the next few days in Allahabad and Balia, officials said on Tuesday.   With the raging waters of Ganga river entering the city in Allahabad, district magistrate Sanjay Kumar ordered closure of the...

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IANS 22 August 2016
Not considered a good sign by investors, the pledging of shares by promoters of the 1,517 NSE-listed companies has risen to a seven-year high at Rs2.08 lakh crore with companies like TCS and Cairn India leading the way, says a report by PRIME Database.   "Across all NSE listed...

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IANS 22 August 2016
Existing operators shot off another letter to the government on Monday and said 2.5 million users for Reliance Jio constituted a commercial launch, seeking to counter the company's claim that it is testing its network now to offer superior quality services later.   Under the umbrella...

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Moneylife Digital Team 22 August 2016
Minneapolis-based Target Corp, which serves guests at 1,797 stores and at Target.com, said it has decided to terminate it vendor agreement with Welspun Global Brands Ltd (Welspun Global), for supplying a substitute product.    In a release, Target said, "Welspun Global, was one of the...

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Saurabh Dugar 22 August 2016
In a bid to deepen the corporate bond market in India, a report of the Working Group on Development of Corporate Bond Market in India was released by the Reserve Bank of India (RBI) on 18 August 2016. It suggested standardisation of corporate bond issuance by allowing investments by foreign...

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