ECONOMY & NATION


Moneylife Digital Team 12 May 2016
Both Houses of the Indian Parliament have passed the long-awaited Insolvency and Bankruptcy Code 2016. The Code sets out a legal framework for resolving insolvency of companies and individuals. This should make it easier for ailing companies to exit operations and for creditors to recover...

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Can infrastructure be sustainably built in a developing economy? As India undergoes a developmental period, this question assumes importance.   Infrastructure growth is likely in railways, roads, airports, smart cities, large industrial units, super technological communication systems...

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The demand for gold in India for the January-March quarter of 2016 was at 116.5 tonnes, down by 39% as compared to the corresponding period of the previous year, the World Gold Council said on Thursday.   The overall demand for gold in India was 191.7 tonnes in the first quarter of...

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Moneylife Digital Team 12 May 2016
ICICI Bank reported its worst numbers in a decade; its net profits sank 87%, to Rs407 crore  in Q4FY15-16, due to a spike in provisioning for bad loans. The Street was disappointed with Axis Bank’s results as its quarterly net profit declined for the first time in 11 years. Its net profits fell,...

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Cezary Podkul (ProPublica) 12 May 2016
German prosecutors have expanded an ongoing investigation of international tax-avoidance deals to cover questionable trades exposed last week by ProPublica and other media partners. Handelsblatt, which collaborated on the report along with German public broadcaster ARD, reported that...

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Moneylife Digital Team 11 May 2016
Foreign investment inflows to India shot up to US$6.2bn in March 2016 from just US$0.7bn in the preceding month, as per the RBI’s monthly bulletin for May 2016, notes Religare. This was entirely driven by FIIs, who pumped in US$4.4bn after withdrawing money in each of the last four months....

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Moneylife Digital Team 11 May 2016
Reliance Jio (RJIO), the Mukesh Ambani group company, is all set to launch its fourth generation (4G) network with its employees referring the services to 10 people for testing. Edelweiss says it availed RJio's employee referral offer for testing. "First impression is positive owing sound...

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From Bombay to Goa and Chennai, the noose is finally tightening around QNet, the global Ponzi scheme that has been allowed to raise several thousand crores of rupees for 16 years (upward of Rs8,000 crore, according to estimates) from gullible people, luring them with fake promises of high...

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Consumer goods major Hindustan Unilever Ltd (HUL) on Monday reported a 7% rise in its standalone net profit in the quarter ended March to Rs.1,089.59 crore as compared to Rs.1,018.08 crore in the year-ago period.   Net sales increased by 3.36 percent for the quarter to Rs.7,809 crore...

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Domestic passenger car sales inched up by 1.87 percent last month, industry data showed on Monday.   According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during April stood at 162,566 units against 159,588 units in the...

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Domestic passenger car sales inched up by 1.87 percent last month, industry data showed on Monday.   According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sales during April stood at 162,566 units against 159,588 units in the...

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In a blog aimed at 2,100 staffers across the globe that they mustn't fret and "get back to work", the co-founder of leading online restaurants aggregator Zomato on Monday made point-by-point rebuttal of an HSBC analysis that has halved its valuation to $500 million.   First came...

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In a blog aimed at 2,100 staffers across the globe that they mustn't fret and "get back to work", the co-founder of leading online restaurants aggregator Zomato on Monday made point-by-point rebuttal of an HSBC analysis that has halved its valuation to $500 million.   First came...

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A Supreme Court bench headed by chief justice TS Thakur has directed the finance ministry to form a panel to look into the issue of bad loans saying, ‘something is not working’ in the present system and has to be fixed. This is a great opportunity to ensure that corporates do not take...

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London: A spurt in number of billionaires and increasing wealth creation by any means have made India rank ninth among the crony capitalist countries, said a study in "The Economist" latest issue.   According to the weekly crony-capitalism index, crony fortunes had leapt relative to...

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Moneylife Digital Team 05 May 2016
The Reserve Bank of India (RBI) on Thursday released on its website, “Draft Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector” for comments from the public. As per the new guidelines, individuals or professionals who are residents and have 10 years of experience in...

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Moneylife Digital Team 05 May 2016
The names of Usha Ispat and Malvika Steel, promoted by Vinay and Anil Rai have figured among the top 10 defaulters on what is called Reserve Bank of India (RBI)'s defaulters' list, published by news portal Newslaundry.com. The report says, Usha Ispat had been getting loans and defaulting on...

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New Delhi : The Rajya Sabha ethics panel has recommended the expulsion of Vijay Mallya "with immediate effect" from the house after his resignation was rejected by Chairman Hamid Ansari.   "Having considered the whole matter, including Mallya's (resignation) letter, the Committee of...

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Sumit Chaturvedi (IANS) 04 May 2016
The average land given to the rural landless is small and falling, from 0.95 acres in 2002 to 0.88 acres in 2015 - a 7.4 percent drop over 13 years - and a slowdown is evident in the process of taking land away from rich landlords, the RTI data revealed   Why it is difficult to...

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Sidhartha Dutta (IANS) 04 May 2016
Enquiries reveal that after more than four decades, no action was taken against anyone, in spite of the strongly-worded report. Only the Quarantine Act was amended to prevent such frauds.   New Delhi : The UB Group of liquor baron Vijay Mallya, who is on the verge of being expelled...

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