ECONOMY & NATION


Chandraprabha Venkatagiri 21 June 2017
A director of a well-known management institution in Mumbai was a man who believed in discipline. Nothing wrong with that. However, he treated the faculty members in such a condescending manner that attrition became severe in a couple of years. One of my students who returned to India after...

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San Francisco, Global ride-hailing service Uber's embattled CEO Travis Kalanick has stepped down following a strong opposition from shareholders, media reported on Wednesday.   According to a report in the New York Times, Uber's five major investors had demanded that the chief...

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New Delhi,  The Supreme Court on Wednesday refused to suspend a six-month jail term it awarded to former Calcutta High Court judge Justice C.S. Karnan for his contempt of the apex court. It also denied him bail.   A vacation bench of Justice D.Y. Chandrachud and Justice Sanjay Kishan...

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In a significant move, the government on Tuesday allowed the RBI to accept demonetised notes of Rs 500 and Rs 1,000 received by the District Central Cooperative Banks (DCCBs) during November 10-14 last year.   The gazette notification comes on a day when the Shiv Sena announced...

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Amit Kapoor (IANS) 20 June 2017
The role of interest rate in Indias growth is grossly underplayed. The movement of interest rates has been strongly linked to episodes of high growth and slowdowns in the last few decades.   There are two major puzzles of the Indian economy that have been surprisingly left...

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Governments and individuals are widely using social media platforms like Facebook and Twitter for promoting lies, misinformation and propaganda to manipulate public opinion around the world, an alarming nine-countries study has said.   According to the new set of studies from the...

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Barclays bank and its four former executives have been charged with conspiracy to commit fraud and unlawful financial assistance in its capital raising arrangements with Qatar during the 2008 global financial crisis.   The Serious Fraud Office had for years been investigating the...

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Munich-headquartered safety, quality and sustainability solutions company TÜV SÜD on Tuesday announced the appointment of India-born Ishan Palit as its global Chief Operating Officer.   The German company, in a statement, said this appointment marks the first time in the 150-year...

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The new indirect tax regime -- The Goods and Services Tax (GST) -- will be launched at the midnight of June 30 in the Central Hall of Parliament in an hour-long event that will evoke memories of the "Tryst with Destiny" moment of 1947.   President Pranab Mukherjee, Vice President...

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The Punjab government on Monday gave its nod to a proposal to amend Section 26-A of the Punjab Excise Act, 1914, for fixing the location of liquor vends on national and state highways.   The amendment, once passed, would lift restrictions on hotels, restaurants and clubs from serving...

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Moneylife Digital Team 19 June 2017
The Indian government has postponed until September the need to file returns under the goods and services tax (GST) and allowed tax payments to be based on a simple return (Form GSTR-3B) containing the summary of outward and inward supplies, which is to be submitted before 20th of the...

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Springing a surprise, the BJP on Monday named Bihar Governor Ram Nath Kovind, a Dalit and a BJP leader, as the ruling NDA's candidate for the July 17 Presidential election.   "We have decided that Ram Nath Kovind will be the NDA Presidential candidate," Bharatiya Janata Party...

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The Supreme Court has directed that the Majithia Wage Board recommendations on wages for newspaper employees have to be "implemented in toto" and managements could not cite lack of funds for avoiding payments.   It also said in its judgment on Monday that there was no difference...

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The GST Council on Sunday unanimously agreed on a July 1 rollout of the Goods and Services Tax regime despite some pending issues, while relaxing the return filing deadline for the first two months, and approved the rules on anti-profiteering to protect consumers.   While Union...

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Updated on 22 June 2017 to include a response from Punj Lloyd on this article. After three years, the Reserve Bank of India (RBI) has been forced to initiate action against bad loans. On 12th June, RBI’s internal advisory committee (IAC) was goaded to recommend that all accounts with...

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Following the Reserve Bank of India (RBI) identifying 12 accounts that are responsible for 25 per cent of non-performing assets (NPAs), the central bank on Friday said it has no plans to come out with a next list any time soon.   "If you look at it (NPAs), RBI had a detailed circular....

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A Special TADA Court on Friday found six persons guilty in the March 1993 Mumbai serial blasts case, including deported mafia don Abu Salem, while one accused was acquitted.   Those found guilty are: Abu Salem who was extradited from Portugal in 2005, Mustafa Dossa who was deported...

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Rajendra Shende (IANS) 16 June 2017
"Tear down this wall," Ronald Reagan, former Republican President of the US, challenged Mikhail Gorbachev in his speech at Brandenburg Gate, in Germany, exactly this week of June in 1987.   Reagan was speaking next to the iconic Berlin wall. He was referring not only to the brick and...

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The Enforcement Directorate on Thursday said it has seized Rs 7 crore of Delhi-based Mehrasons Jewellers in connection with its probe into the foreign exchange violations revealed in the Panama Papers leak case.   The ED in an official statement said it has seized Rs 7 crore lying in...

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Reliance Industries (RIL) and British energy major BP on Thursday annnouced the creation of a joint venture energy vertical to work across the entire value chain, involving investment of $6 billion, or Rs 40,000 crore.   This would also develop their existing deep water gas fields in...

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