ECONOMY & NATION


IANS 23 August 2016
The Board of Directors of Reliance Capital on Tuesday approved the induction of Anmol Ambani, the 24-year-old eldest son of Reliance Group Chairman, Anil Dhirubhai Ambani, on the Board of Reliance Capital as an Additional Director.   The induction follows the recommendation by the...

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Arvind Padmanabhan (IANS) 23 August 2016
In a bid to save fuel, cut emission and have better route utilisation, Indian carriers have suggested a new plan to the government that co-opts the air space controlled by the armed forces. It also calls for bypassing Pakistan while flying overseas to save navigation fees.   Called...

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Moneylife Digital Team 23 August 2016
On 12 August 2016, the Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo Ltd (ABNL) and Grasim Ltd. As part of the restructuring, the financial services arm, Aditya Birla Financial Services (ABFS), will also be subsequently demerged and listed separately....

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IANS 23 August 2016
The Central Bureau of Investigation (CBI) on Monday arrested the directors of West Bengal-based Ramel Industries Ltd in its ongoing probe into the multi-crore chit fund scam.   Ramendra Mohan Sarkar and Sukanta Deb, directors of Ramel Industries, were arrested on charges of criminal...

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IANS 23 August 2016
Former head of the Competition Commission of India (CCI) Ashok Chawla will take over as the non-executive part-time chairman of YES Bank -- the country's fifth-largest private sector bank -- in October as the RBI has given approval for the appointment, the bank said on...

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IANS 23 August 2016
Flood situation in many parts of Uttar Pradesh has worsened and schools were closed for the next few days in Allahabad and Balia, officials said on Tuesday.   With the raging waters of Ganga river entering the city in Allahabad, district magistrate Sanjay Kumar ordered closure of the...

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IANS 22 August 2016
Not considered a good sign by investors, the pledging of shares by promoters of the 1,517 NSE-listed companies has risen to a seven-year high at Rs2.08 lakh crore with companies like TCS and Cairn India leading the way, says a report by PRIME Database.   "Across all NSE listed...

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IANS 22 August 2016
Existing operators shot off another letter to the government on Monday and said 2.5 million users for Reliance Jio constituted a commercial launch, seeking to counter the company's claim that it is testing its network now to offer superior quality services later.   Under the umbrella...

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Moneylife Digital Team 22 August 2016
Minneapolis-based Target Corp, which serves guests at 1,797 stores and at Target.com, said it has decided to terminate it vendor agreement with Welspun Global Brands Ltd (Welspun Global), for supplying a substitute product.    In a release, Target said, "Welspun Global, was one of the...

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Saurabh Dugar 22 August 2016
In a bid to deepen the corporate bond market in India, a report of the Working Group on Development of Corporate Bond Market in India was released by the Reserve Bank of India (RBI) on 18 August 2016. It suggested standardisation of corporate bond issuance by allowing investments by foreign...

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IANS 22 August 2016
Global credit rating agency Moody's Investors Service on Monday said India's credit profile is supported by its strong growth potential, high private savings enabling access to funds for the government at favourable terms.   On the other hand Moody's said these credit strengths were...

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Moneylife Digital Team 20 August 2016
The government on Saturday appointed eminent economist, consultant and banker Dr Urjit Patel as new governor of the Reserve Bank of India (RBI). He will replace Dr Raghuram Rajan.    Dr Patel was Deputy Governor of RBI looking after monetary policy, economic policy research,...

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Rangoli Agrawal (IANS) 20 August 2016
Two years ago, Nirmala Devaki borrowed Rs 50,000 for a cousin's wedding from her self-help group (SHG), one of 3.9 million across India that offer loans as small as Rs 10,000, including for marriages.   To Devaki, a landless farmer from Dastikoppa village in Karnataka's northwestern...

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Most micro and small enterprises (MSE) suffer from delayed payments for their supplies and services. Several contractual engagements with both the government and public sector undertakings also are not honoured.   In line with the long-standing demand of small-scale sector to...

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IANS 18 August 2016
Singapore Telecommunications (Singtel) on Thursday said it is acquiring 7.39 per cent additional stake in the holding arm of India's largest telecom company Bharti Airtel for around $650 million.   The development, as per a series of regulatory filings across countries, is a part of a...

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IANS 18 August 2016
The India Post Payments Bank Limited (IPPB) has received the certificate of incorporation from the Registrar of Companies that will help it to roll out pan-India branches by September 2017, an official statement said here on Thursday.   “With the incorporation the board of the India...

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IANS 18 August 2016
In a move that can potentially trigger a major consolidation in India's state-run financial services space, the board of the State Bank of India (SBI) on Thursday approved the acquisition of four other entities in the industry subject to a host of approvals.   The entities are: State...

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IANS 18 August 2016
Chennai: One of the immediate downside risks for the global economic growth is the potential renegotiation of global trade pacts and security alliances after US' presidential elections in November, said credit rating agency Moody's Investors Service.   According to Moody's, such an...

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IANS 18 August 2016
Mumbai: Bankers, particularly from public sector banks (PSBs), on Wednesday voiced concern on the formidable challenges in raising the amount of capital required under Basel III norms, given the timeline of its implementation by March 31, 2019.   "The formidable challenges in raising...

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IANS 18 August 2016
Chennai: Around five lakh bankers will go on strike on September 2 protesting against the central government's economic polices and anti-labour reform measures, the All India Bank Employees' Association (AIBEA) said on Thursday.   In a statement, the AIBEA said at the call for the...

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