ECONOMY & NATION


The price of sugar, both in the domestic market and the international market even with the export incentive, does not make the whole business viable. No wonder, several large sugar mills are seriously considering closure as an option due to this disparity in prices   According to...

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Moneylife Digital Team 17 March 2015
Dena Bank is trying every trick to avoid vacating its branch office near Mumbai whose lease has expired over 32 months ago. This is a lesson to property owners who believe that it is ‘safe’ to rent their premises to government organisations   Property owners usually believe that...

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Moneylife Digital Team 17 March 2015
US-based Mirach Capital further accused Sahara's representatives of breaching an exclusivity contract with it following public comments by its CEO Sharma regarding the group's acquisition strategy of the Sahara assets   US-based Mirach Capital said it is initiating a $400 million...

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If and when the 5/20 rule is revised, the immediate advantage would go to GoAir, which has more than five years domestic flying experience and is currently short of one aircraft to meet the fleet requirement of 20    It was in 2004, the Cabinet had cleared the 5/20 rule for permitting...

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Finance Minister Jaitley said it was a routine drill that police have to undertake to ensure security of the VIPs active in Lutyens' Delhi   The union government on Monday dismissed the charges of snooping on Congress vice-president Rahul Gandhi as the party members, supported by...

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Police said such surveys are conducted at all protected persons' offices from time to time and no personal questions were asked   The Congress was on Saturday miffed over the visit of Delhi police officials to the party office here seeking details of Rahul Gandhi's physical...

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Rajeev Chandrasekhar 13 March 2015
Insurance Bill will positively impact the nearly 800 million uninsured Indians as well as help consumers with easy access to and affordable insurance   The Insurance Laws (Amendment) Bill, 2015 is the National Democratic Alliance (NDA) government’s first significant piece of economic...

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Moneylife Digital Team 13 March 2015
Cairn India, the unit of Vedanta, said it received a demand notice of Rs20,495 crore from income tax department for alleged failing to deduct withholding tax on alleged capital gains arising during 2006-07 in the hands of its parent Cairn UK Holdings   The Income Tax (I-T)...

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Moneylife Digital Team 12 March 2015
Sonia Gandhi led a march to show solidarity to Singh’s residence in which several of former ministers Chidambaram, Anand Sharma, Ambika Soni, Veerappa Moily and K Rehman Khan were present   Former Prime Minister Manmohan Singh on Thursday thanked the Congress and party Chief Sonia...

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Moneylife Digital Team 12 March 2015
According to the Chief Economic Advisor although it was unreasonable to expect big bang reforms announcement in annual Budget, the Narendra Modi government is moving ahead slowly but steadily   In vibrant democracies like India, with multiple veto centres, it is “unreasonable” to...

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Railway Minister Prabhu can lend, lease excess properties for building up huge food, grain storage yards, near stations to help faster movement and delivery. This would reduce the dependence on FCI godowns and still bring in the much needed finance, as rent for Railways!     Railway...

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Moneylife Digital Team 11 March 2015
The audio recording released by India TV revealed that Kejriwal had allegedly indulged in horse-trading of six Congress MLAs, before the dissolution of the Delhi Assembly in 2014   In yet another setback to Arvind Kejriwal and Aam Admi Party (AAP), India TV released an audio tape...

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Moneylife Digital Team 11 March 2015
In a newspaper advertisement, IDBI Bank said Tuli and Osian’s Connoisseurs together owe it Rs59.20 crore as on 1st March, and the Bank holds second charge on the offices of the company   IDBI Bank, through an advertisement in a newspaper has declared Neville Tuli, promoter and...

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Alrosa, the world’s largest diamond supplier is willing to offer rough diamonds to 12 of India's diamond processing companies. In addition, with a rupee-rouble currency swap arrangement, the import costs for rough diamonds would come down as it would avoid European middlemen   Due to...

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Moneylife Digital Team 11 March 2015
LIC will invest around Rs30,000 crore each year by subscribing to bonds issued by various railway entities such Indian Railways Finance Corp over next five years   Life Insurance Corp of India (LIC), the country's largest insurer will invest Rs1.5 lakh crore in development of various...

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Moneylife Digital Team 11 March 2015
Nine general managers are promoted as executive directors EDs in PSBs including Bank of Baroda, Bank of India, Canara Bank, Union Bank, Allahabad Bank, Syndicate Bank, Central Bank of India, Indian Overseas Bank and CUB Bank   The union government has promoted nine general managers...

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Moneylife Digital Team 11 March 2015
A Special Court had summoned former PM Singh, along with Kumar Mangalam Birla and former coal secretary Parakh in a case related with allocation of a coal block to Hindalco in Orissa   A Special Court had summoned former Prime Minister Manmohan Singh, industrialist Kumar Mangalam...

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Moneylife Digital Team 10 March 2015
In a two-volume book, NSEL says the series of action that have been taken against the company, FTIL and their directors are far beyond the legal   Facing a barrage of problems on several fronts, scam-hit National Spot Exchange Ltd (NSEL) has launched a massive media outreach...

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Moneylife Digital Team 10 March 2015
Domestic passenger car sales grew 6.85% to 1.72 lakh units, while motorcycle sales fell 8.22% to 7.74 lakh units during February   Passenger car sales in India grew 6.85% to 1.72 lakh units during February compared with 1.60 lakh units in the same month of 2014.   According to...

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Over the next five years, the Railways plan to invest in dedicated freight corridors, high-speed rails and elevated corridors, obtain rolling stock production and to develop logistic parks for facilitating Rail movement. All this requires an investment of about Rs8.5 lakh...

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