ECONOMY & NATION


A fast track court on Tuesday pronounced the death sentence for three prime accused in the sensational October 2009 gangrape and murder of software engineer Nayana Phatak-Pujari.   Special Judge L. L. Yenkar, who on Monday convicted Yogesh Ashok Raut, Mahesh Balasaheb Thakur...

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Over two years after the Central government's directive to all states, Maharashtra government has barred all schools from serving 'junk' or 'fast' foods, or those high in fats, salt and sugar content, at their student canteens and offer instead a healthy and hygienic...

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Moneylife Digital Team 09 May 2017
The price of crude oil has plummeted more than 15% in recent weeks, to around $48 per barrel. The easing of crude oil prices will have a positive effect not only on inflation but on India's gross domestic product (GDP) growth, says a research report.   In the note, State Bank of India...

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On 5th May, president Pranab Mukherjee gave his assent to an ordinance to amend Section 35 of the Banking Regulation Act, 1949, empowering the Reserve Bank of India (RBI) to tackle bad loans of public sector banks (PSBs). Since details of the ordinance were not available at the time of...

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The Supreme Court on Tuesday held the Calcutta High Court's Justice C.S. Karnan guilty of contempt and ordered he be jailed for six months.   Holding Justice Karnan guilty of contempt for his utterances against the Chief Justice of India and other judges of the apex court and the...

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Amit Kapoor (IANS) 09 May 2017
India's NPA problem has a flip side to it: the issue of rising corporate debts.   The IMF, in its latest Global Financial Stability Report, warned that rising corporate debts were a risk to growth in emerging markets and pointed out that India's debt is one of the highest among these...

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The Supreme Court on Tuesday held beleaguered liquor baron Vijay Mallya guilty of contempt in a case filed by a consortium of 13 banks he owes money to.   A bench of Justice Adarsh Kumar Goel and Justice Uday Umesh Lalit gave Mallya an opportunity to present his case on July 10, when...

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Moneylife Digital Team 08 May 2017
Gross non-performing assets (NPAs) of nine private banks increased to 3.91% in March 2017 from 1.93% in March 2015 against their total advances. However, during the quarters ended in December 2016 and March 2017, the ratio of gross-NPA to total advances have remained unchanged. Maintenance of...

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In a setback for RJD supremo Lalu Prasad, the Supreme Court on Monday set aside a Ranchi High Court ruling and ordered that he be tried in all the remaining five fodder scam cases.   The Rashtriya Janata Dal chief has already been convicted in one of the fodder scam cases and his...

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Natco Pharma on Monday said it has launched a generic version of sofosbuvir 400 mg/velpatasvir 100 mg tablets in India, which is used for treatment of chronic hepatitis C virus (HCV) infection.   The pharmaceutical company said in a regulatory filing to the BSE that it will market the...

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A day after a video of IPS officer Charu Nigam breaking down in public after being shouted at by a BJP legislator became viral and created a furore, the officer took to her Facebook page to thank everyone for their support.   In a message posted on her social networking site profile,...

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The Delhi Metro Rail Corporation (DMRC) is set to announce new fares on Monday, an official said.   "The Board of Directors is meeting to decide on the hike in fares of Delhi metro," an official told IANS.   "The announcement on the fare hike will be made in the evening," he...

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Minutes after Kerala Chief Minister Pinarayi Vijayan on Monday informed the state assembly that his government has not tendered an apology and the Supreme Court has not imposed a Rs 25,000 fine, Chief Secretary Nalini Netto in her affidavit filed before the top court tendered an unconditional...

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Vipul Vivek (IANS) 08 May 2017
Indians were the sixth-biggest out-of-pocket health spenders in the low-middle income group of 50 nations in 2014, according to an IndiaSpend analysis of two recent studies by The Lancet, a British medical journal.   The Lancet had conducted two studies -- published on April 19 --...

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The Supreme Court on Friday upheld the death sentence on all four convicts in the brutal Nirbhaya gang-rape here of December 2012 that led to her death and caused national outrage.   A three-member bench of Justice Dipak Misra, Justice Ashok Bhushan and Justice R. Banumathi said the...

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The Enforcement Directorate (ED) on Friday said it has provisionally attached properties worth Rs 33.74 crore of businessman J.Shekhar Reddy and his associates under the Prevention of Money Laundering Act (PMLA).   In a statement issued here, it said the provisional attachment is in...

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The much-awaited ordinance, expected to make a tangible impact on India’s crisis of piling non-performing assets (NPA), was signed into law by the President on 5 May 2017. The Ordinance, consisting of barely two sections, makes amendments to the regulatory framework of banking in India, the...

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The government on Friday announced draft rules for a national no-fly list that proposes a flying ban from three months to two years or beyond for unruly passengers on domestic flights.   Civil Aviation Minster Ashok Gajapathi Raju and Aviation Secretary R.N. Choubey sought...

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An ordinance empowering the Reserve Bank of India (RBI) to tackle bad loans of banks got the Presidential nod on Friday.   President Pranab Mukherjee signed the ordinance that will amend the Banking Regulation Act to tackle the burgeoning non-performing assets of banks.   The...

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The Enforcement Directorate on Thursday froze Rs 62 crore worth shares of Balasore Alloys owned by businessman Pramod Mittal, ex-chairman of Global Steel Holdings Ltd, for defrauding and causing a loss of Rs 2,000 crore to the government-run State Trading Corporation.   "ED has frozen...

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