ECONOMY & NATION


Dr Rakesh Goyal 04 January 2017
My article, “How Much of Black Money is Held in Cash?”, published in Moneylife on 28 December 2016, has been a good learning experience for me. It attracted many comments from many learned members and subscribers, on the webpage and by direct email to me. I tried to respond to most of these....

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IANS 04 January 2017
The Election Commission of India on Wednesday said that the candidates will have to submit a 'No Demand Certificate' from agencies providing amenities and government accommodation.   Chief Election Commissioner Nasim Zaidi said: "The candidates will be required to file a no demand...

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IANS 04 January 2017
Assembly elections in Uttar Pradesh, Uttarakhand, Goa, Punjab and Manipur will be held between February 4 and March 8, Chief Election Commissioner Nasim Zaidi announced on Wednesday.   The results from all five states will be known on March 11, Zaidi told a press conference...

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IANS 04 January 2017
Housing finance major Housing Development Finance Corporation Ltd (HDFC) on Tuesday announced reduction in its floating loan interest rates by 45 basis points for women and 40 basis points for others.   In a statement, the company said loans up to Rs 75 lakh for women would be charged...

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IANS 04 January 2017
Prime Minister Narendra Modi's announcements on the New Year's Eve, including sops in housing, agriculture and for pregnant women, will cost the economy a total of over Rs 3,500 crore annually, a State Bank of India report said on Tuesday.   "The overall fiscal impact of all these...

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IANS 04 January 2017
The Reserve Bank of India has appointed Surekha Marandi as its Executive Director (ED) in place of U.S. Paliwal, who retired on December 31, 2016, the bank announced on Tuesday.   Marandi, who assumed charge here on Monday, will look after Consumer Education and Protection Department,...

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IANS 04 January 2017
The Supreme Court on Tuesday asked the Centre to place before it within four weeks a list of corporate entities with outstanding debts in excess of Rs 500 crore and details of cases pending before Debt Recovery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATs) for more than 10...

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IANS 03 January 2017
Trinamool Congress MP Sudip Bandyopadhyay was on Tuesday arrested by the CBI in the Rose Valley Chit Fund scam, an official said.   He was summoned by the Central Bureau of Investigation (CBI) and was arrested at the agency's regional office after questioning, an agency official...

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Moneylife Digital Team 03 January 2017
In a landmark decision, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) has held that provisions of the Income-tax Act cannot be interpreted to the disadvantage of the assessee and segregating transactions in cash and future segment is against the spirit of the taxation...

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Moneylife Digital Team 03 January 2017
In a landmark judgement, especially for the seafarer community, the Calcutta High Court has held that income earned by a marine engineer for services rendered for 286 days overseas is not liable to be taxed in India.    In an order (WP No369 of 2014), dated 15 December 2016, Justice...

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Moneylife Digital Team 03 January 2017
Demonetisation is likely to derail the growth of the cement sector, with small and medium cement manufacturers feeling the heat, says India Ratings and Research (Ind-Ra).   Ind-Ra expects the credit profile of pan India cement players and strong regional players to remain stable....

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IANS 03 January 2017
The Supreme Court on Tuesday agreed to hear a PIL seeking court-monitored probe by CBI/SIT into the allegation that AgustaWestland had spent six million euros for "managing" the media in a VIP chopper deal that ran into rough weather following allegations of pay-offs.   Asking...

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IANS 03 January 2017
The RBI on Tuesday said the supply of currency notes in rural areas was not adequate and asked banks to send at least 40 per cent of the supply to their rural branches.   "The bank notes, being supplied to rural areas, at present, are not commensurate with the requirements of the...

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IANS 03 January 2017
With a bulk infusion of fresh liquidity arising out from demonetisation, banks, both public and private, on Monday slashed their lending rates, leading to home loan rates falling to their lowest level in six years.   ICICI Bank has announced a reduction of 0.70 percent in marginal...

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In a casino, the house always wins. It is apparently the same with corporate managements. The sacking of Cyrus Mistry as the chairman of Tata Sons, and the intrigues and machinations that followed, show us that good governance cannot be ensured with mere legislation and that the independence...

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Moneylife Digital Team 02 January 2017
Proxy advisory and corporate governance advisory firm InGovern Research Services Pvt Ltd (InGovern) has said that the sudden departure of David Kennedy, the General Counsel and Chief Compliance Officer of Infosys Ltd, raises a serious questions about whether his departure was triggered by an...

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IANS 02 January 2017
The Supreme Court on Monday said that re-promulgation of an ordinance was a fraud on the Constitution and the satisfaction of the President or the Governor to promulgate an ordinance was not immune from judicial review.   Noting that ordinance has the same force as law passed by the...

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IANS 02 January 2017
After starting the New Year with a gift of 0.9 percentage point cut in lending rates, State Bank of India (SBI) Chairperson Arundhati Bhattacharya on Monday said that the deposit rates also soon require a "relook" as a large amount of cash deposited in the banks, as a result of...

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IANS 02 January 2017
Small automobile companies logged volume growth as compared to major players in the industry whose sales dipped as seen from the sales numbers announced by companies.   The currency crunch due to demonetisation of 500 and 1,000-rupee notes coupled with customers postponing purchase...

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IANS 02 January 2017
After a New Year gift of 0.9 percentage point cut in lending rates, State Bank of India (SBI) Chairperson Arundhati Bhattacharya on Monday said she saw normalcy return to the banking system by end-February or March, with uptake in credit growth.   Her reference was to the events...

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