ECONOMY & NATION


India's factory output growth slowed in May to 2.7 percent from 4.1 percent in the month before, official data showed on Friday.   According to the data on Index of Industrial Production (IIP) furnished by the Central Statistics Office (CSO), the growth during April-May stood at 3...

Read More



Neeraj Sharma 09 July 2015
The government’s grip over information is tightening not only in respect of transactions undertaken within the country but also overseas   In a liberal economic and low tax rate environment, people are expected to go straight. Tax fraud and tax evasion deprive governments of revenues...

Read More



In an embarrassment to the Delhi government, AAP legislator Manoj Kumar was on Thursday arrested on charges of cheating and forgery, police said.   Manoj Kumar, elected from Kondli, was taken into custody in a case of alleged land grab.   He has seven cases against him,...

Read More



Russian oil major Rosneft has signed an initial "non-binding" memorandum with the Ruia family-led Essar group to buy 49 percent stake in Essar Oil's Vadinar refinery in Gujarat.   The deal has come at a time when India is taking part in the ongoing BRICS leaders' summit in...

Read More



Moneylife Digital Team 09 July 2015
The SC ruling against PNGRB strengthens the case for GAIL & GSPL   Interestingly, SC’s ruling has wider implications, which means that the entire city gas tariff regulation goes out of the window. Nowhere—whether it is in Mumbai or Ahmedabad—can the PNGRB now set tariffs. If the...

Read More



The BRICS New Development Bank will consider membership of new countries within six months, with the most probable new candidates being African states, its first president, India's K.V. Kamath, said on Wednesday.   "Currently we only have five partnering states and we’ll be working...

Read More



The International Monetary Fund (IMF) Managing Director Christine Lagarde said that the fund will not bend rules on debts owed by Greece but would remain fully engaged in order to help find solution.   "Whenever the IMF (is) involved, it's certainly my view that the IMF has to follow...

Read More



The Greek government has extended bank closures and a 60 euro($66) daily limit on ATM withdrawals until Monday, media reported on Thursday.   "The bank holiday is extended to July 13," the finance ministry said in a statement late Wednesday.   The curbs were imposed on June 28...

Read More



Vatsal Srivastava (IANS) 08 July 2015
Indian bears are pressing the sell button hard taking cues from the Chinese stock market sell-off and the possible contagion effects of a Grexit on peripheral Europe.    Yes, the China fall is extremely worrying. This is not only because of the steepness of the fall and the scary...

Read More



A US court has sentenced the former Indian American head of a Chicago investment firm to six years in prison for stealing more than $9 million in a ponzi scheme, a media report said Tuesday.   "I'm a rotten individual for what I did to (investors). I'm a rotten individual for what I...

Read More



The assumption that 15:85 structure would enhance ARC’s cash commitment is erroneous. RBI needs to urgently allow banks' provisioning, resulting from sale of assets to ARCs, to be spread over three years as against two years   The 15:85 structure introduced by Reserve Bank of India...

Read More



The Sahara Group on Tuesday told the Supreme Court that it was not possible for it to repay, in 18 months, Rs.36,000 crore of investors' money that it had collected in 2007-08 in 18 months as was ordered by the court on June 17.   "There is no business house in the country or in the...

Read More



At the end of a Eurogroup summit, European Commission President Jean-Claude Juncker said Grexit cannot be ruled out though he does not want Greece to leave the Eurozone.   "Friday morning will be the last moment," Juncker said on Tuesday night, setting a deadline for the Greek...

Read More



An emergency Eurogroup meeting in Brussels on the Greek debt deal ended inconclusive on Tuesday, with lenders saying that they expected to discuss Greece's proposals on Wednesday during a Eurogroup teleconference.   The finance ministers of euro zone countries didn't receive new...

Read More



The National Mineral Development Ltd (NMDC) will set up a three-million tonne per annum steel plant in Karnataka, union Steel and Mines Minister Narendra Singh Tomar said on Tuesday.   The greenfield plant, in the state's mineral-rich northern region, will be a joint venture with the...

Read More



Communications and IT Minister Ravi Shankar Prasad on Tuesday said the government expects telecom service providers to undertaks a special drive for radio frequency optimisation of their network and periodic checks to address the problem of call drops.   "We have to take the call drop...

Read More



With retail store operators going to court seeking parity between online and offline retailers, Commerce Minister Nirmala Sitharaman will meet industry representatives from both e-commerce and retail companies on Friday to discuss opening up the e-commerce sector to foreign direct investment...

Read More



The Central Bureau of Investigation (CBI) on Tuesday conducted simultaneous searches at 12 places in Odisha in connection with a chit-fund scam.   CBI sources said searches were conducted at residences of some officials of inter-state chit fund company Swastic India, and offices of...

Read More



Rakshita Swamy (IANS) 07 July 2015
The recently concluded socio-economic caste census (SECC) is an exercise that draws considerable amount of awe for its sheer reach.   The census surveyed 23.49 crore households across India using 6.4 lakh electronic handheld devices to arrive at a database of all households. It then...

Read More



Ola has appointed Arun Sarin, former chief executive officer of Vodafone Group Plc, on its board as an independent director, a company statement said here on Tuesday.   Sarin, with over 30 years of management experience, will contribute in an advisory role to Ola's overall business...

Read More

Free Helpline
Legal Credit
Feedback