ECONOMY & NATION


Moneylife Digital Team 03 July 2013
The Standing Committee has categorically said that the increase in bilaterals appears to facilitate one airline’s ability to strike a stake-sale deal with a foreign airline at a huge premium. The FIPB, SEBI and the Competition Commission are worried about ownership and control of Jet

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Moneylife Digital Team 03 July 2013
The Bill aims to give legal rights to 67% of the population over a uniform quantity of 5 kg food grains at a fixed price of Re1 to Rs3 per kg The Union Cabinet on Wednesday cleared promulgating an ordinance for Food Security Bill. The Food Security Bill, which is pending in the...

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Moneylife Digital Team 03 July 2013
The issue attracted bids for over 4.23 crore shares, or 1.08 times, against 3.71 crore shares on offer much before the close of market hours The government garnered Rs260 crore from stake sale in Hindustan Copper which got subscribed 1.14 times of the shares on offer today.   The...

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Moneylife Digital Team 03 July 2013
The Foreign Investment Promotion Board had approved these proposals in its meeting on 14th June, when it deferred a decision on Jet Airways’ application to make a preferential allotment of 24% of equity shares to Etihad Airways Eight FDI proposals worth Rs1,311.54 crore, including that...

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Dr Verma had purchased a Reliance Life plan with the lure of an interest-free loan. After running around without any success for six months to get the promised loan and then to get the policy cancelled, Dr Verma fortunately got justice within two hours of Moneylife’s...

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The UPA government wants to issue banking licences “at any cost” before the elections. However, the RBI is not in a mood to ‘rush’. Last time only 2% of the applicants managed to get banking licences from the regulator. So who would be the lucky ones this time? The list has many dubious...

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Moneylife Digital Team 03 July 2013
Directing banks to focus on top defaulters, finance minister P Chidambaram said it is the 30 top non-performing accounts which account for bulk of the non-performing assets Concerned over rising bad loans, finance minister P Chidambaram today directed banks to focus on top defaulters and...

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Moneylife Digital Team 03 July 2013
The services sector witnessed a moderation in June as the pace of growth in new orders placed at private sector firms was the weakest in the last 50-month period, HSBC said Output of the country’s services sector slowed down in June due to a decline in new business orders and subdued...

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Moneylife Digital Team 03 July 2013
This is the first time since 27th June that the domestic currency has fallen below the 60 level The rupee on Wednesday fell by 37 paise to again slip below the 60 mark to 60.03 against the dollar in early trade at the Interbank Foreign Exchange market, on heavy dollar demand tracking...

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Moneylife Digital Team 03 July 2013
Kerala Police have arrested two persons in connection with a forex racket which has duped over 60 investors of several crores of rupees, while, at the same time, employees in Chennai have escaped While the rupee has been grabbing headlines of late, what is little known or reported is...

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Moneylife Digital Team 03 July 2013
Kerala Police have arrested two persons in connection with a forex racket which has duped over 60 investors of several crores of rupees, while, at the same time, employees in Chennai have escaped While the rupee has been grabbing headlines of late, what is little known or reported is...

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In January 2008 the dollar fetched Rs39.27 and now it is hovering around Rs60, thus losing about 34% of its value. Due to the practically free import policy, relatively free and unrestricted travel abroad, billions of dollars are being utilized, leading to deficits It is true that...

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Justin Elliott (ProPublica) 03 July 2013
A Better America Now had spent money on mailers linking a congressional candidate to "left-wing extremists" and a controversy involving an endangered spider Shortly before Election Day last year, mailers went out to Texas voters featuring pictures of a Democratic congressional candidate...

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Moneylife Digital Team 02 July 2013
“The problems relating to illegal card transactions happened because we are interlinked, and the two-factor authentication and the other security measures did not exist in overseas market where these cards were cloned and used,” RBI executive director G Padmanabhan said The recent...

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Moneylife Digital Team 02 July 2013
Snowden who leaked details of top-secret American mass surveillance programs, is currently in Russia As expected, the Indian government on Tuesday rejected a request for asylum by US whistle-blower Edward Snowden. Snowden, who is on the run had made the request through the Indian Mission...

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Moneylife Digital Team 02 July 2013
On 22nd April the Cabinet Committee approved 40,000 additional bilateral seat rights per week to Abu Dhabi. As soon as the bilateral deal was signed, both Jet and Etihad entered into an agreement on 24th April. Is it a coincidence or collusion? The deal between Naresh Goyal-led Jet...

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Customers have got fraudulent calls offering a Rs10 lakh interest-free loan from Reliance Capital when you buy Reliance Life Money Multiplier policy of Rs1 lakh premium Fraudulent callers from Reliance Life are offering Reliance Capital’s interest-free loan of Rs10 lakh for 10 years if...

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Moneylife Digital Team 02 July 2013
The Telecom Commission has approved raising FDI limit to 100%, 49% investment can be made through the automatic route but FIPB approval is required to increase the level, a senior government official said The inter-ministerial body Telecom Commission today approved hiking the foreign...

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Moneylife Digital Team 02 July 2013
Barring energy futures, trading volumes in farm items, gold, silver and other metals remained lower in the said period, commodity markets regulator FMC said in a statement The turnover of the commodity bourses declined marginally to Rs34.36 lakh crore till 15th June of the current fiscal...

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While telecom operators have to mandatorily submit data to TRAI, there are no obligations on mobile handset makers. This allows them to make dubious claims about sales Last week, we received an email from a public relations agency telling us about a particular mobile handset maker...

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