ECONOMY & NATION


Banks are basically meant to allocate capital to businesses and consumers efficiently. Post demonetisation, customers feel the pain more than gain in banks. Farmers getting inadequate and untimely credit from banks take to huge private debt, only to commit suicide...

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Mumbai, The Reserve Bank of India (RBI) on Wednesday said that it will soon issue new Rs 10 and Rs 5 coins in circulation.   According to the RBI, the central government has minted new Rs 5 coins to commemorate the "150th Anniversary of Allahabad High Court" and Rs 10 coins on the...

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Gulshan Luthra (IANS) 26 April 2017
The April 13 Mother of All Bombs (MOAB) strike by the United States on ISIS terrorists in Afghanistan has triggered suggestions that a second round of the Cold War is set to begin. Particularly as the new US President, Donald Trump, seems to be brash, abrasive and capable of taking action...

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New Delhi, Noted economist and NITI Aayog member Bibek Debroy on Tuesday said there was a need to expand the tax base by bringing agricultural income under the tax ambit.   He said there was also a need to eliminate exemptions on personal income tax.   Talking to reporters...

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Moneylife Digital Team 25 April 2017
The yearly State Bank of India (SBI) Composite Index, an indicator for tracking India’s manufacturing activity, has slipped below 50 in April 2017 of 49.3 (low decline), compared to last month’s revised index of 50.3 (low growth).      According to the researchers at SBI, the...

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New York, Reserve Bank Governor Urjit Patel says that merging public sector banks and having fewer of them would be better for the sector and also help deal with problem of non-performing assets (NPA).   Do we need so many public sector banks, he asked while delivering the Kotak...

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New Delhi, In a major move aimed at bringing about reforms in the agriculture sector, the central government on Monday came out with a draft model act for the states, which envisages ending monopoly of traditional APMC markets.   While aiming to curtail the monopoly of the...

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New Delhi, The Supreme Court on Monday asked real estate major Unitech to deposit interest on the money paid by flat buyers at its project at Gurugram by May 8, cautioning it that failure to deposit the interest may invite attachment of its property.   Refusing more time to the...

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Mumbai, The authorities who will monitor the Real Estate (Regulation & Development) Act, (RERA) should concentrate on seeing all the existing projects are completed and delivered before allowing new projects, an official of National Real Estate Development Council (Naredco) said on...

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Amit Kapoor (IANS) 25 April 2017
South Asia is becoming one of the most interesting regions in the world economy, displaying unprecedented growth, averaging close to six per cent per annum since the 1990s. According to a new World Bank report, it has consolidated its position as the global leader in growth.   South...

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Moneylife Digital Team 24 April 2017
As the much-awaited goods and service tax (GST) implementation deadline of 1 July 2017 draws closer, consumer goods companies are gearing for its seamless implementation. However, the state of affairs as far as other stakeholders in the system distributors, and wholesalers is starkly...

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New Delhi, The Centre has directed states to display information on central and state subsidies for food grain under the Targeted Public Distribution System on boards outside Fair Price Shops for public information and awareness.   A letter issued by Food and Public Distribution...

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Saurabh Katkurwar (IANS) 24 April 2017
Noted agricultural scientist M.S. Swaminathan, hailed as the mentor of the Green Revolution that saw India achieve self-sufficiency in foodgrain, feels GM technology, which has generated much heat in the country, will soon become "obsolete" with the advent of nano-technology and other...

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New Delhi, The Election Commission of India (ECI) has issued a letter of intent to purchase 16,15,000 Voter Verifiable Paper Audit Trails (VVPATs) at an estimated cost of Rs 3,173.47 crore during 2017-18 and 2018-19 from central PSUs BEL and ECIL, an official statement said on...

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New Delhi, Prime Minister Narendra Modi on Sunday asked the states to consider advancing the financial year to January-December, saying that in a country where agricultural income is exceedingly important, budget should be prepared immediately after its receipt for the year.   Making...

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Maintaining that service charge in hotels and restaurants was "totally voluntary", Union Food and Consumer Affairs Minister Ram Vilas Paswan on Friday said the government had approved guidelines in this regard.   He added that the guidelines were sent to the states for necessary...

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New Delhi, Reserve Bank of India (RBI) Governor Urjit Patel has been summoned by Parliamentary Standing Committee on Finance to appear before it on May 25 on the demonetisation issue.   According to one of the panel members, he will be asked how money has so far come back into the...

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New Delhi, The Supreme Court on Friday said that it cannot pass an order to bring back the Kohinoor diamond which is in the possession of the United Kingdom or say that they should not auction it.   Dismissing off the petition by the All India Human Rights and Social Justice seeking...

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Bengaluru, Global software major Wipro "sacked" at least 600-700 employees in fiscal 2016-17, ostensibly for non-performance or not rising to its expectations, said a company source on Thursday.   "Attrition takes place every quarter when employees leave voluntarily for various...

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Citing upside risks to inflation from price pressures as the main reason for keeping its key interest rate unchanged earlier this month, the RBI's monetary policy committee (MPC) said there is room for banks to further cut interest rates, minutes of the MPC meeting on April 5-6, released on...

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