ECONOMY & NATION


IANS 16 August 2016
The Bihar assembly on Tuesday ratified the Goods and Services Tax Constitution Amendment Bill which found support from the ruling coalition of JD-U, RJD and Congress as well as the BJP-led opposition.   The CPI(ML), however, opposed the GST Bill -- its three members walked out of the...

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Venkatachari Jagannathan  and   Sanu George (IANS) 16 August 2016
Five years on, a raging battle between the Government of India, the privately-owned Devas Multimedia, and former senior officials of the Department of Space (DOS), the Indian Space Research Organisation (ISRO) and Antrix Corp refuses to die down.   While Devas seems have won cases...

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Chaitanya Mallapur (IANS) 16 August 2016
As Prime Minister Narendra Modi criticised Pakistan -- without naming the country -- for supporting terror groups, 671 infiltration incidents and 738 terrorist attacks were reported in Jammu and Kashmir over the last three years, according to a government reply to parliament during its...

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Moneylife Digital Team 16 August 2016
After class action lawyers in Australia had worked at securing the rights of 50,000 Indian investors by filing caveats in the courts of that country, the Indian government also appears to have woken up to the overseas investments of Pearls India and its promoters, the Bhangoo family....

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Sidhartha Dutta (IANS) 16 August 2016
Even as Prime Minister Narendra Modi is promoting 'Make in India' and actively seeking foreign investments, Yoga guru Baba Ramdev is openly attacking multinationals, calling their products "dangerous" in a concerted ad campaign.   MNCs are terming the campaign a marketing gimmick, but...

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IANS 16 August 2016
Amid the recent fluctuation in global oil prices, state-run Indian Oil Corp (IOC) cut the price of transport fuels effective from Tuesday, of petrol by Re1 a litre and of diesel by Rs2, both at Delhi, with corresponding decrease in other states.   Making its previous fortnightly...

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Ameet Roy 12 August 2016
There has been an exponential rise in the number of FinTechs in the country during the last six months. India now ranks 17th in the world in terms of number of FinTech companies present in the country. With the declaration of the Startup Action Plan, there has been a sudden boom in the number...

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Moneylife Digital Team 12 August 2016
Dhanlaxmi Bank's failure to pay a coupon on a subordinated debt instrument in July 2016 highlights the increased risk to bank capital investors from the mounting asset-quality and capital-adequacy pressures on India's banking sector, says Fitch Ratings.   Fitch says, "This was the...

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Moneylife Digital Team 12 August 2016
The Reserve Bank of India (RBI) has proposed that the customer will have no or zero liability in case of fraud being committed because of a bank's negligence or by a third party. In addition, where the customer’s own involvement is not clearly established, customer liability will be limited...

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IANS 12 August 2016
 Assam on Friday became the first state to ratify the Constitution amendment bill related with the Goods and Services Tax, following its passage by both houses of parliament this month.   "A historic resolution was passed in Assam Assembly as Assam became the 1st State to ratify the...

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IANS 12 August 2016
Bharti Airtel has acquired the rights to use Aircel's Odisha circle, with which it completed rights to use 4G airwaves of Aircel in seven out of eight circles in the spectrum trading deal between the companies.   "The acquisition of rights to use 20 MHz 2300 Band BWA spectrum from...

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IANS 11 August 2016
The Central Bureau of Investigation (CBI) on Thursday interrogated the brother-in-law of Odisha Food Supplies and Consumer Welfare Minister Sanjay Dasburma for his alleged involvement in the chit fund scam.   The CBI interrogated Satyapriya Jaysingh, the brother-in-law of the...

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IANS 11 August 2016
In a setback to self-styled godman Asaram Bapu, accused of rape of a minor girl, the Supreme Court on Thursday refused to grant him interim bail on medical grounds.   The court, however, asked the All India Institute of Medical Sciences (AIIMS) to constitute a three-member medical...

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IANS 11 August 2016
Finance Minister Arun Jaitley here on Thursday launched an online finance facilitation portal for the micro, small and medium enterprises (MSMEs) to facilitate ease of doing business.   “The government is committed to ease of doing business. All financial support will be provided to...

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The non-banking financial company (NBFC) sector in the country crossed a new milestone, as the Finance Ministry redeemed a promise made long time back in Budget 2015. A total of 196 systematically important NBFCs, with assets of Rs500 crore or more as per their last balance sheets have been...

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IANS 11 August 2016
All sitting MPs and former MPs will soon be given a "unique identity" to help them book train tickets and end any misuse in multiple bookings, Railway Minister Suresh Prabhu said on Wednesday.   The issue of multiple bookings of railway tickets figured during question hour in the Lok...

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IANS 11 August 2016
Pawan Kumar Bajaj has taken over as Managing Director and Chief Executive Officer of the state-run United Bank of India, the bank said in a release on Wednesday.   Bajaj, who has three decades of experience in the industry, took charge on Tuesday.    Prior to his new...

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IANS 10 August 2016
A few branches of HDFC Bank in the rural areas of Gurgaon are declining to open accounts with zero balance for students, farmers and labourers under Pradhan Mantri Jan-Dhan Yojana (PMJDY) scheme, applicants said here.   HDFC Bank has stopped opening accounts with zero balance in...

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IANS 10 August 2016
Tata Chemicals on Wednesday said it has sold its urea business to Yara Fertilisers India Private Limited for a consideration of Rs2,670 crore.   "The Board of Directors has accepted the transfer of the business of sale and distribution of urea and customised fertilisers, manufactured...

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IANS 10 August 2016
 Various airlines on Tuesday announced discounted fares to attract flyers during the lean travel season.   National passenger carrier Air India through its scheme “Monsoon Sale” announced discounts on select sectors in the economy class for travel on both domestic as well as on the...

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