ECONOMY & NATION


IANS 19 January 2017
A specially-designated court in Odisha's Balasore on Wednesday directed the state government to auction the confiscated properties of chit fund firm Saradha Group.   The court, which confiscated a total of 13.64 acres of land belonging to the Group, ordered for its public auction, so...

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IANS 19 January 2017
The government on Wednesday clarified that only unaccounted domestic cash holding can be declared under the new tax evasion amnesty scheme announced after demonetisation and not jewellery, stocks, immovable property or overseas accounts.   "The Scheme is hence not available for...

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Moneylife Digital Team 18 January 2017
The National Company Law Tribunal (NCLT) has dismissed a contempt petition filed by family firms of Cyrus P Mistry against Tata Sons. However, the Tribunal has allowed Mr Mistry to file an affidavit within three days challenging the 6th February extraordinary general meeting (EGM) called by...

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Moneylife Digital Team 18 January 2017
Paytm founder Vijay Shekhar Sharma is again found hurling abuses towards competitors in the e-wallet company's annual party, reveals a video uploaded on YouTube by one OfficeChai.   Paytm is the main beneficiary in the demonetisation drive, and thus it was not hard to guess the mood...

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IANS 18 January 2017
Bollywood actor Salman Khan was on Wednesday acquitted by a court here in an Arms Act case in which he is alleged to have killed blackbucks in 1998.   Chief Judicial Magistrate Dalpat Singh Rajpurohit, after completing the hearing on January 9 in the case, had reserved the judgement...

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IANS 18 January 2017
In a major decision on divesting stake in state-run general insurance companies, the cabinet on Wednesday approved the public listing of 5 firms by which the government's shareholding in them would be brought down to 75%.   "In a major decision on the five general insurance companies...

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Moneylife Digital Team 18 January 2017
The governor of the Reserve Bank of India, Urjit Patel is supposed to appear before a parliamentary panel today, to explain the demonetisation decision and its effect on economy. He would also be quizzed about the steps the Central bank took to deal with the massive cash crunch that followed...

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IANS 18 January 2017
In a measure of relief to foreign portfolio investors (FPIs), venture capital and private equity investors, the government on Tuesday said it is putting on hold its recent circular on taxation of indirect transfers.   India's Central Board of Direct Taxes (CBDT) had on December 21...

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IANS 18 January 2017
The Hyderabad Police has arrested Boaz Augustin, Chairman and Managing Director of Borg Energy India Pvt Ltd for defrauding various companies to the tune of about Rs 100 crore.   Cybercrime police of Detective Department arrested Augustin in Madurai on charges of cheating and criminal...

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IANS 18 January 2017
A German passport is the world's strongest while the Indian is ranked 78th in the popular ranking of the world's passports by a global advisory firm.   The latest passport Index devised by global financial advisory firm Arton Capital is based on cross-border access of national...

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IANS 17 January 2017
India's domestic air passenger traffic zoomed by 23.18% in 2016 to 998.88 lakh, official data showed on Tuesday.   "Passengers carried by domestic airlines during January-December 2016 were 998.88 lakh as against 810.91 lakh during the corresponding period of previous year, thereby...

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IANS 17 January 2017
Indian consumers remain the most optimistic in the Asia-Pacific region and their outlook on economy and stock market showed highest levels of confidence even after their government's recent demonetisation measure, a report said on Monday.   "Consumers in India remain extremely...

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The New Year began with a sense of relief, after nearly two months of uncertainty and hardship that gripped India since 8 November 2016. The long queues at ATMs have vanished, although the curbs on withdrawal of our own money from banks continue. A New-year Eve scare—that more experimentation...

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IANS 16 January 2017
In view of recent amendments brought into Income Tax Rules on furnishing information to the income tax department, the cooperative banks "may face some issues" to report information data as required by law enforcement department, an RBI official said on Monday.   According to income...

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IANS 16 January 2017
Reliance Industries on Monday reported a rise of 10 per cent in its standalone net profit for the quarter ended December 31, 2016, thanks to a robust refinery performance.   The company's third quarter standalone net profit increased to Rs 8,022 crore ($1.2 billion).   The...

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IANS 16 January 2017
The RBI on Monday hiked the daily ATM withdrawal limit from Rs 4,500 to Rs 10,000 and doubled the weekly Current Account withdrawal limit to Rs 1 lakh.   The withdrawals from ATMs will be operative within the existing overall weekly limit of Rs 24,000, a Reserve Bank of India...

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IANS 16 January 2017
Eight richest men in the world own the same wealth as the 3.6 billion people who make up the poorest half of humanity, said a study by Oxfam, an international confederation of 19 social organisations, on Monday.   "Just eight men own the same wealth as the 3.6 billion people. None of...

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Moneylife Digital Team 16 January 2017
The Ahmedabad Bench of National Company Law Tribunal (NCLT) has refused to grant any extension to Plethico Pharmaceuticals Ltd (Plethico) to refund the money it collected from investors and depositors by way of fixed deposits (FDs).  A copy of the orders has been forwarded to Moneylife...

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IANS 16 January 2017
Stating that the official estimate of a 7.8 per cent economic growth in the last quarter of this fiscal was unrealistic, an analysis by a State Bank of India (SBI) think tank says the spurt in tax revenues also reflect collections from income disclosure scheme.   Commenting on the...

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IANS 16 January 2017
Global credit rating agency Moody's Investors Service and its Indian affiliate ICRA Ltd on Monday said India will remain one of the fastest growing major economies globally in 2017 and the government will likely achieve its fiscal deficit target of 3.5 per cent of GDP for the current fiscal...

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