ECONOMY & NATION


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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New Delhi, The Supreme Court on Thursday allowed the New Delhi Municipal Council to go ahead with the e-auction of the property housing the iconic Taj Mansingh Hotel here, currently run by Tata Group's Indian Hotels Company Ltd. (IHCL).   An apex court bench of Justice Pinaki Chandra...

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Chennai, Investments through Participatory Notes or P-Notes route in the Indian stock markets touched Rs 178,437 crore at the end of March 2017, the market regulator Securities and Exchange Board of India (SEBI) said on Thursday.   According to the data released by SEBI, total...

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Mumbai, Investment bank Nomura has decided to set up a $92 million fund to assist start-ups, a senior official said.   In a statement issued here on Wednesday the firm also said that it has commenced the 'Voyager - Nomura FinTech Partnership' in India aimed at harnessing emerging...

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Moneylife Digital Team 18 April 2017
The slogan of ‘Going Cashless’ has been in front of our eyes continuously for the last five months. However, per citizens, the cost of cashless transaction continues to be the same as pre-demonetisation at 1-2% for debit card and 2-4% for credit card transactions. These charges, charged by...

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Moneylife Digital Team 18 April 2017
Liquor baron Vijay Mallya, wanted in India for defaulting on bank loans, was arrested in London on Tuesday. Mallya was taken into custody by Scotland Yard and could have been extradited to India. British authorities have informed the Central Bureau of Investigation (CBI) about the arrest, say...

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Amit Kapoor (IANS) 18 April 2017
The Modi government has been pulling all stops to improve the ease of doing business rankings since it came into power in a bid to improve Indias image as a business-friendly economy and attract global investment.   In the last three years, the states have been given a 98-point,...

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Moneylife Digital Team 17 April 2017
New Delhi Television Ltd (NDTV) is planning to sale certain strategic assets of its subsidiaries, the company says in a regulatory filing.    In the regulatory filing, the company says, "NDTV has informed the Exchange that as per the Company's Code of Conduct for Prevention of Insider...

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New Delhi, The Supreme Court on Monday asked the official liquidator of the Bombay High Court to auction the Aamby Valley property of the Sahara group to recover the money it has to pay to market regulator SEBI to be returned to investors.   Directing Subrata Roy Sahara to be...

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Mumbai, An apex corporate tribunal on Monday dismissed a plea filed by Cyrus Mistry's investment companies to waive off a regulatory bar on them, so that they can continue their legal suit against the Tata Sons.   Besides, the main petition which was filed against Tata Sons was also...

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Dheeraj Kumar Sharma 17 April 2017
The discussion on the existence of non-operative companies or shell companies is making the rounds of corporates, with special emphasis on government departments on curing the malady.    With the widespread epidemic of non-operative and shell companies in the Indian corporate...

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Chennai, The Enforcement Directorate (ED) on Monday said it has issued notices to Vasan Health Care Pvt Ltd and Advantage Strategic Consulting for violation of the Foreign Exchange Management Act (FEMA) totalling to Rs 2,307 crore.   The two companies are connected to former Finance...

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