ECONOMY & NATION


Moneylife Digital Team 11 September 2013
NPAsource.com has conducted 200 deals worth Rs100 crore so far and sees e-auctions of NPAs worth Rs600 crore in FY14 NPAsource.com, which focuses on resolution of stressed assets, said it expects to undertake e-auctions of various banks’ non-performing-assets (NPAs) worth about Rs600...

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Moneylife Digital Team 10 September 2013
The rise in external debt of 12.9% is mainly due to increase in short-term debt, commercial borrowings and non-resident Indian deposits, says a status report from the Finance Ministry   The level of India’s external debt (at US$390 billion) is on a rising trend with the elevated level...

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Moneylife Digital Team 10 September 2013
Weak growth and poor flows, both equity and overseas borrowing by corporates, will keep up the pressure on balance of payments   India’s trade deficit narrowed to US$10.9bn in August (Nomura: US$8.5bn) from US$12.3bn in July due to strong exports. Exports rose 13% y-o-y (year-on-year)...

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The managing director went on record to say that NSEL has sufficient stocks in warehouses to cover the entire open exposure and in the event of any default, stocks will be sold to fulfill payment obligations. The hollowness of this claim is an open secret now.   “The Company’s...

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The CAG discovered crores of rupees vanished at the Railways due to the twin-freight policy! There is a need to be practical in plugging loopholes in freight rate, which leads to such malpractices   The Comptroller and Auditor General (CAG) has discovered the tip of the freight...

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Pooja Rawal 10 September 2013
Last week, the banking regulator introduced ‘branch info’ return compliance for NBFCs. This new directive would surely curb speculative transactions as well, which otherwise are hard to track down   There were times when non-banking financial companies (NBFCs) had their own set of...

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Moneylife Digital Team 10 September 2013
The notice from Income Tax department alleges that NMDC had under invoiced some export accounts during assessment years 2006 to 2010   The Income Tax (I-T) Department has slapped a Rs1,631-crore demand notice on the state-run National Mineral Development Corporation (NMDC)...

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Moneylife Digital Team 10 September 2013
Traders are facing destruction of black pepper or kalimirchi stock, worth about Rs300 crore traded on NCDEX that was found to contain carcinogenic mineral oils   Pepper traders have welcomed commodity market regulator Forward Markets Commission (FMC)'s decision instructing...

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Moneylife Digital Team 10 September 2013
Westlife Development, which recently completed the acquisition of Hardcastle Restaurants, a franchisee of McDonald’s Restaurants, suddenly suffers a drop in price after being locked in an upper circuit almost non-stop since January 2009.   The stock price of Westlife Development...

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Moneylife Digital Team 06 September 2013
Higher credit growth is typically seen as a sign of better growth in India, but it is believed that the sudden surge reflects ongoing substitution from external borrowing into bank credit due to a weaker rupee, says Nomura in its research note Credit growth in India has suddenly picked...

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Moneylife Digital Team 06 September 2013
According to ICRA, a weak macro environment, large rupee depreciation, vulnerability of a large number of infrastructure projects and the rising yields will have significant bearing on the earnings and asset quality of banks in India in FY14 Ratings agency ICRA has said that declining...

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What are the one thing should you look for in a hatchback? Should you rent out a vehicke? And how can you reduce costs by going online? Maruti launched a revamped version of their Wagon-R, called Stingray, a few days ago. At first glance, it will resemble the trend set off by the Ford...

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Tax-free bonds are back with better opportunities than were offered earlier this year. In December 2012, there was expectation of interest rates heading south. They did, for some time, but suddenly, with the rupee plunging, interest rates are now heading north. As a result, bond prices...

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Moneylife Digital Team 05 September 2013
NSEL said it is in the process of providing an exit window for investor to liquidate the e-series units and realise cash payments Crisis-ridden National Spot Exchange Ltd (NSEL) on Thursday said that its stock positions of gold, silver and platinum, for e-series contracts tallies with...

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Moneylife Digital Team 05 September 2013
While the measures announced by RBI to open a swap window to attract FCNR-B dollar funds can help augment capital inflows and cushion the funding pressures to some extent in the near term, India’s balance of payments remains as vulnerable as ever Yesterday, Raghuram Rajan took over as...

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Coal India could explore the possibility of buying wagons from the Indian Railways, and forge a mutually beneficial partnership that could lead to long-term benefits For the aam aadmi, the best and the cheapest means of transport is none other than the ones provided by the Indian...

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Moneylife Digital Team 04 September 2013
A Rs5-6/litre diesel price increase is likely, after Parliament session ends this week, forecasts Nomura in its research note on the oil sector OMCs (oil marketing companies) are loath to raise prices while Parliament sessions are on. However, last weekend there were price hikes (petrol...

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Customers of some of the biggest names in the Indian broking fraternity who aggressively sold NSEL’s borrowing-lending racket are staring at large outstanding in NSEL. Clients of Anand Rathi Commodities stand exposed to over Rs600 crores while those of Indian Infoline stand to lose over Rs300...

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Moneylife Digital Team 04 September 2013
RBI has taken away the last funding resource from developers, which may lead to cracking of the realty sector that is holding on to inventory since past few years Reserve Bank of India (RBI)'s latest warning to banks about not lending money to builders or developers under the 80:20 or...

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Moneylife Digital Team 04 September 2013
In July, India Inc raised over $3.71 billion from overseas markets through ECBs and FCCBs. The RBI move is aimed at encouraging capital inflows and arrest decline in rupee value In order to encourage capital flows, The Reserve Bank of India (RBI) on Wednesday eased external...

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