ECONOMY & NATION


Moneylife Digital Team 05 April 2016
The central bank decided to narrow the policy rate corridor from 100 bps to 50 bps by reducing the MSF rate by 75 bps to 7% and increasing reverse repo rate by 25 bps to 6%    As expected by the markets and economists, the Reserve Bank of India (RBI), in its first bi-monthly credit...

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In March, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) - a composite single figure indicator of manufacturing performance - rose to an eight-month high of 52.4 from 51.1 in February   Business conditions improved in March owing to strong inflows of new work leading...

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According to Civil Aviation Secretary RN Choubey, the government has no such plans, as the airline has improved its financial performance   The government has no plans to privatise national carrier Air India, a senior official said on Monday.   According to Civil Aviation...

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The latest increase follows a stiffer hike of Rs3.07 a litre on petrol and Rs1.90 a litre in diesel rates effected on March 17   State-run Indian Oil Corp (IOC) hiked transport fuel rates from Tuesday, increasing petrol by Rs2.19 a litre and diesel by 98 paise -- both at Delhi, with...

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New Delhi: A majority of the banks in India favour a Banks Board that can help mitigate and manage the risks of the banking industry, according to a survey conducted by KPMG.   In the survey titled Model Risk Management Survey 2015-16 analysing the importance of the Board playing an...

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Moneylife Digital Team 04 April 2016
The possible rate cut of 25-50bps by RBI is unlikely to stimulate capex as there is a need for complimentary demand side policies, says a research note   The Reserve Bank of India (RBI), in its first bi-monthly monetary policy review for FY2016-17 on Tuesday is widely expected to cut...

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Chennai : The rising share of renewable energy in India's power generation mix over the next five-seven years will pose a challenge to conventional power generators, said global credit rating agency Moody's Investors Service on Monday.   "This situation will be exacerbated by the fact...

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Jammu : Peoples Democratic Party (PDP) chief Mehbooba Mufti was on Monday sworn in as the first woman chief minister of Jammu and Kashmir.   Mufti, 56, was administered the oath of the office by Governor N.N Vohra.    She becomes the 13th chief minister of the state, ending...

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Mumbai : Global private equity Fund Blackstone on Monday said it has reached a pact to buy a majority 60.5 percent stake in Mphasis, a leading IT services player, in a deal valued at between Rs.5,466 crore and Rs.7,071 crore ($825 million and $1.1 billion).   "As per the Takeover Code...

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New Delhi : While 25 basis points (bps) cut in the interest rates by the RBI in the monetary policy is imminent, the real impact on lending costs will be felt if the apex bank goes for at least a 50 bps cut, says a CEO survey conducted by Assocham ahead of the monetary policy review on April...

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Mumbai : At the new fiscal's first bi-monthly monetary policy review due on Tuesday, RBI Governor Raghuram Rajan is widely expected to cut interest rates by at least a quarter of a percentage point on the back of the union budget's fiscal prudence measures, reduction in small savings interest...

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Rekha Bhattacharjee (IANS) 02 April 2016
The reported apathy of both the business and political communities strengthens the age-old belief held by India's diplomatic circles that the Australians are simply not interested in India   Sydney: As the Australian visit of India's Finance Minister Arun Jaitley enters its concluding...

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New Delhi : The Supreme Court on Friday declined a PIL by the former top cop Julio Riberio and other eminent people seeking setting up of a machinery to verify the assets declared by the winning candidates and three top losing candidates in a constituency in parliamentary and state assembly...

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Bengaluru : Beleaguered liquor baron Vijay Mallya's son Sidhartha V. Mallya resigned as non-executive and non-independent director of United Breweries Holdings Ltd, the listed firm said on Friday.   In a regulatory filing to the BSE, the city-based holding firm said 28-year-old...

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New Delhi : Eight states, including Uttar Pradesh and Bihar, have issued bonds of nearly Rs.1 lakh crore in 2015-16 under the UDAY scheme for debt restructuring of distressed state distribution companies (discoms), Power Minister Piyush Goyal said on Friday.   "Another target...

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New Delhi : As the government on Friday enforced the much debated 85 percent pictorial warnings on packets of all tobacco products, manufacturer across the country decided to halt production, citing ambiguity in the government action.   The move is likely to result in a daily loss of...

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CBDT said a detailed user manual for filing online rectification is available on the e-filing portal, on which taxpayers can also monitor the status of disposal of their requests   India's tax department has processed over 6.53 lakh online rectification applications in the last fiscal...

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Moneylife Digital Team 01 April 2016
Independent agency to probe serious governance issues    Ricoh India has informed the exchanges that an independent agency has been appointed to assist the Audit Committee to better understand certain areas where the auditors had emphasized further review. This agency is conducting a...

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Chennai : Credit rating agency Moody's Investors Service (Moody's) on Friday said Tata Steel Ltd's decision to restructure its British operations is credit positive but there is no immediate impact on its ratings.   In a statement, Moody's said Tata Steels planned...

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Chennai : A special court here has convicted including Indian Bank's former chairman and managing director M.Gopalakrishnan and five others in a fraud case and sentenced them to two years rigorous imprisonment, a CBI statement said.   In a statement issued here, the Central Bureau of...

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