ECONOMY & NATION


Most of the telecom service providers, except Airtel 2G and 3G and Vodafone 2G, in the Mumbai circle have failed to meet call drop rate benchmark of less than 2%, said sector regulator TRAI in a statement on Tuesday after conducting a drive test.   IMRB International has carried out...

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Even before the entry into force of the Paris climate agreement that saw global jubilation just six months ago, we are faced with the possible risk of exit by referendum from the pledge of an ambitious reduction in the emission of Green House Gases (GHGs).   The United Kingdom, one of...

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Moneylife Digital Team 21 June 2016
The Reserve Bank of India (RBI)'s Governor Dr Raghuram Rajan, as per his own communication to his colleagues, will not continue at the post after 4 September 2016. Following this, the domestic and global media have gone into paroxysm of lament and berated the Narendra Modi government for...

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A court, under the Prevention of Money Laundering Act (PLMA), has declared Vijay Mallya, the industrialist who liked to flaunt the good life in peoples’ faces, a ‘proclaimed offender’. All the protestations by his industrialist friends—that Mr Mallya is being summarily judged in a media trial...

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The decision of Dr Raghuram Rajan not to continue or seek second term as governor of Reserve Bank of India (RBI) has finally ended months of speculations. However, at the same time, the way this issue was being kept alive through media, brings some other important issue of reforms within the...

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Biswajit Choudhury  and   Meghna Mittal (IANS) 20 June 2016
Markets bracing for the Monday of the week of "Brexit", when Britain possibly exits from the European Union, will now, following the BSE Sensex fall of 400 points last week provoked by this possibility, now have to contend with the shock news of RBI Governor Raghuram Rajan's Saturday decision...

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Global credit rating agency Moody's Investors Service on Monday said the three recent regulatory changes made by India will have transformative implications for its structured finance market.   "The changes will improve returns to investors, promote foreign investment, and improve the...

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Putting its economic liberalisation agenda on the fast track, India on Monday relaxed its foreign equity norms further, notably in defence, aviation, pharmaceuticals and retailing, with automatic approval rather than a case-based route as the preferred model.   In aviation, extant...

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Moneylife Digital Team 20 June 2016
The Delhi High Court has ruled that no service tax could be charged for contracts entered between builders or developers and buyers for the purchase of apartments or flats. The Court also upheld the levy of the service tax but quashed it as there was no statutory measure to ascertain the...

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Moneylife Digital Team 20 June 2016
Dr Raghuram Rajan, governor of Reserve Bank of India (RBI) ended months of speculation and suspense and told his colleagues that he was not keen on second term as chief of central bank. While Nomura says this news (Dr Rajan's decision not to continue) is negative in near terms, according to...

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Ending months of suspense, Reserve Bank of India (RBI) Governor Raghuram Govind Rajan formally told his colleagues on Saturday that he is not keen on a second term at the helm of the country's central bank and will return to academia when his tenure ends in September.   This was...

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Moneylife Digital Team 17 June 2016
Prannoy Roy-led New Delhi Television Ltd (NDTV) has informed the Bombay Stock Exchange (BSE) that it received a show cause notice from a Deputy Commissioner related with an assessment order (AO) passed by the Income Tax Department for assessment year 2009-10. Earlier in February 2014, the I-T...

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The Reserve Bank of India on Friday simplified the registration process for new non-banking financial companies (NBFCs).   "The application form for the registration of new NBFCs has been revised to make the process smoother and hassle-free. The number of documents to be submitted...

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In one of the biggest consolidations to happen in the Indian life insurance sector, Max Life Insurance and Max Financial Services have signed agreements to evaluate a potential merger with HDFC Standard Life Insurance Company Ltd.   A regulatory filing in the BSE by Housing...

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Moneylife Digital Team 16 June 2016
The Securitisation Summit held in Mumbai witnessed a gathering of the market players; brain storming the prospects, challenges, issues, concerns and way forward of the securitisation industry in India. The Summit, witnessed one of the critical rendezvous of the stakeholders in the...

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Prime Minister Narendra Modi on Thursday called for 10 crore people to be brought into the tax net, up from the current 5.3 crore, in a bid to expand the revenue base.   "There are a total of 25 crore households in the country, out of which 10 crore have non-agricultural income. The...

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Planning to buy a new smartphone? Remember that the device may lose half of its value in a month which is even faster than your car, says an interesting study.   While cars typically lost 20% of their value a year after being driven off, money-draining smartphones went down up to 65%...

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Moneylife Digital Team 16 June 2016
The Union Cabinet has cleared the National Civil Aviation Policy (draft released in October 2015), which among other things has capped airfares on un-served regional routes to push regional connectivity and making flying more affordable to the masses. The new civil aviation policy reflects a...

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While accepting that new financial technology startups (fintechs) are disrupting financial business and transactions, Arundhati Bhattacharya, Chairman of State Bank of India (SBI), the country's largest lender, says, these new fintechs are redefining payment and banking transactions. "Mere...

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Air India on Wednesday said it will withdraw its operations on the Kolkata-Durgapur-Delhi route from June 17 due to operational reasons.   The national air carrier was the sole airlines operating a flight from the newly built Kazi Nazrul Islam Airport in Durgapur (Andal) of West...

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