ECONOMY & NATION


Abhay Datar 19 May 2017
The ‘note-bandi’ era is over and the new mantra now is ‘go cashless’ or ‘go digital’. But there is a catch, and you need to watch what you are being charged for and by whom.   To tell you the truth, although I am an ordinary citizen, I am a staunch supporter of cashless transactions....

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In a bid to deal with economic offenders like liquor baron Vijay Mallya, who flee the country to escape the legal process, the government on Thursday said it has prepared a draft legislation to enable confiscation of their assets.   The draft law -- Fugitive Economic Offenders Bill,...

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In major relief for India, the International Court of Justice on Thursday ordered Pakistan not to execute alleged spy Kulbhushan Jadhav till a final decision is taken.   Judge Ronny Abraham, President of the court, reading out the court verdict also asked Pakistan to inform it of all...

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Vishakhapatnam in Andhra Pradesh and Beas in Punjab have been declared the cleanest railway stations in A-1 and A categories respectively. Darbhanga and Jogbani in Bihar were the dirtiest in the two sections, according to a survey by Quality Council of India.   Vishakhapatnam emerged...

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Moneylife Digital Team 17 May 2017
The gross non-performing asset (GNPA) ratio of 13 public sector banks (PSBs) that peaked in December 2016, have remained just about an average basis. However, compared with March 2015, the growth in NPA jumped 143% in March 2017, says a research note.   According to Care Ratings,...

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Sanjay Pandey 17 May 2017
With 800 Million persons below 35 years of age, the Indian work force is considered a demographic dividend. However, recent reports about un-employability of Indian youth have put a question mark on the real value of this dividend.  In November 2016, a report by the Federation of Indian...

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Moneylife Digital Team 16 May 2017
M Veerappa Moily, Chairman of the Standing Committee of Parliament on finance assured a group of activists that the issue of ever rising and unfair bank charges would be discussed in detail by the committee. The meeting, which included Mr Dinesh Trivedi (of the All India Trinamool Congress)...

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US automaker Ford Motor is making plans to cut about 10 per cent of its global staff, which could mean about 20,000 jobs worldwide, according to a media report.   Most of the jobs will be salaried workers who do not have union protection, rather than the 57,000 US hourly staff who...

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State-run Indian Oil Corp (IOC) has reduced price of petrol by Rs2.16 per litre and that of diesel by Rs2.10 a litre excluding state levies.   According to IOC, the current level of international prices of petrol, diesel and the Indian rupee-US dollar exchange rate warranted a...

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The premises of two top opposition leaders, P. Chidambaram and Lalu Prasad, were on Tuesday raided by CBI and IT officials with Karti Chidambaram accused of getting pay-offs for helping a media company get FIPB clearance, while the former Bihar Chief Minister was accused of "benami" land...

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Private sector lender ICICI Bank on Monday said that it has reduced interest rates by up to 30 basis points (bps) for home loans of up to Rs 30 lakh.   "With this reduction, salaried borrowers can avail home loans at among the lowest rates in the industry. Salaried women borrowers...

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The Delhi High Court on Friday declined to entertain a plea by Young Indian Pvt Ltd (YI), of which Congress President Sonia Gandhi and Vice President Rahul Gandhi are the main stakeholders, challenging Income Tax notices served to the company -- clearing the decks for an IT...

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A "suspected" bird hit forced a Jet Airways flight to return shortly after it took off from Chhatrapati Shivaji Maharaj International Airport here on Friday morning.   The aircraft landed safely and all 180 passengers and eight crew have also deplaned, a spokesperson...

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Amid a public outcry in Kerala over a State Bank of India (SBI) announcement levying charges on ATM cash withdrawals from June 1, the largest public lender on Thursday clarified that the charge of Rs25 is applicable only for withdrawals from SBI Buddy through ATMs.   "Rs25 per...

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Moneylife Digital Team 11 May 2017
India has been languishing at the bottom of the investment grade ladder in the ratings universe. In fact, to put it on record, India has had a net rating upgrade only once in the last 25 years. With conflicting opinions in the Fiscal Responsibility and Budget Management (FRBM) Committee...

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Almost 70 per cent of Indian automobile sales, valued at $40 billion, will be digitally influenced by 2020 compared with $18 billion today, a joint report by management consulting firm Bain & Company and Facebook said on Thursday.   The report, titled 'Changing Gears 2020: How Digital...

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Aroonim Bhuyan (IANS) 11 May 2017
As confusion looms over the future of the H1-B visa programme, an investment-facilitating firm is targeting rich Indians with the EB5 visa, popularly known as the "Golden Visa", that promises a faster route to US citizenship.   The US Immigration Fund (USIF), which launched its Indian...

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India may receive ahigher rainfall this year than previously predicted, a top IMD official said on Wednesday citing the weakening of the El Nino phenomenon.   India would see normal monsoon with 96 per cent of rainfall still maintained as the current forecast, and an update could only...

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Japanese conglomerate SoftBank Group Corp (SBG) on Wednesday recognised losses of  USD 1.4 billion in 2016-17 from its India investments -- Snapdeal and Ola.   "SBG recorded loss from financial instruments of 160,419 million Japanese Yen ($1.4 billion) in its consolidated financial...

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Moneylife Digital Team 10 May 2017
Capital First Limited reported a profit after tax of Rs238.9 crore for FY17, an increase of 44% from Rs166.1 crore in FY 16. Capital First reported a profit after tax of Rs70.8 Crores for Q4 FY17, an increase of 49% from Rs47.5 crores in Q4 FY 16. This is the highest ever quarterly profit in...

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