ECONOMY & NATION


IANS 29 October 2015
Prime Minister Minister Narendra Modi on Thursday announced a credit of $10 billion to Africa which will be in addition to the ongoing credit programme.   "To add strength to our partnership, India will offer concessional credit of $10 billion over the next five years. This will be in...

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IANS 29 October 2015
Uttar Pradesh Chief Minister Akhilesh Yadav on Thursday sacked eight cabinet ministers and withdrew portfolios of nine ministers in a major shake-up of his ministry.   The move is being seen as a precursor to the cabinet reshuffle scheduled for October 31 when some new faces are...

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IANS 28 October 2015
Nepal on Wednesday signed a MoU with Petro China in order to import all kinds of fuel from China, ending a long-held monopoly of buying fuel from the Indian Oil Corp (IOC).   Nepal Oil Corp (NOC) and Petro China signed the pact in Beijing following an unofficial trade and fuel embargo...

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Non-performing assets (NPAs) and restructured assets are galloping. Over the years many patchwork solutions have been tried. Last year, the Reserve Bank of India introduced a structure for rehabilitating "specified infrastructure and core industry projects" for tenures up to 80%-85% of the...

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Moneylife Digital Team 28 October 2015
During 2014-15, starting a business became a bit easier in India, says the 'Doing Business 2016' report   Out of the 189 economics studied, the World Bank has moved up India to 130th position, from 134th rank, in its annual ease of doing business ranking. The report for 2013-14 ranked...

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IANS 28 October 2015
Delhi High Court's former judge Justice RV Easwar is chairman of the panel   The government on Tuesday set up a 10-member committee to simplify provisions of the Income Tax Act for enabling ease of doing business.   "The committee will identify provisions in the IT Act which...

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IANS 28 October 2015
The project aims to reduce the need for the taxpayer to physically appear before tax authorities   Union Finance Minister Arun Jaitley on Tuesday launched the 'e-Sahyog' pilot project of income tax department which aims to reduce the need for the taxpayer to physically appear before...

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IANS 27 October 2015
The government said on Tuesday it was looking at divesting stake in the public sector IDBI Bank, on lines similar to what it done in the case of Axis Bank.   "We still have quite number of opportunities even on divestment side. We will consider transforming IDBI Bank in a manner...

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Nothing is free; privacy is the price   “Woman Stalked across 8 websites by Obsessed Shoe Advertisement,” says a headline in theonion.com. The article is a hilarious take on what we let ourselves in for, by merely browsing an e-commerce site. Its advertisements, displaying the product...

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IANS 27 October 2015
 Wipro czar Azim Premji has invested Rs.216 crore in a leading consumer care firm through his family investment arm Premji Invest.   "We have raised Rs.216 crore from Premji Invest. The fresh capital will spur us to grow into a Rs.1,000-crore company in five years from Rs.350 crore...

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IANS 27 October 2015
Participatory Notes, or P-Notes, mode investment into India's capital markets grew to Rs.254,000 crore (around $39 billion) at the end of September compared with the previous month, according to data by market regulator SEBI.   Securities and Exchange Board of India data showed that...

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IANS 23 October 2015
The People's Bank of China (PBOC) cut the reserve requirement ratio (RRR) of banks and benchmark interest rates on Friday.   From October 24, the RRR for financial institutions will be slashed by 0.5 percentage point, Xinhua news agency reported.   The RRR for qualified...

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IANS 23 October 2015
Over 75 percent of projects in the real estate sector during 2014-15 did not start off due to delay in regulatory approvals and other bottlenecks.   A study conducted by apex industry body the Associated Chambers of Commerce and Industry of India (Assocham) disclosed that over 75...

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Moneylife Digital Team 21 October 2015
RH Modi & Co in a newspaper advertisement denied signing the auditor’s report of listed company C Mahendra Exports for FY2015   Mumbai-based auditors RH Modi & Co have published an advertisement in local newspaper saying that the firm has not signed Auditors Report of C Mahendra...

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IANS 21 October 2015
BK Ajith, secretary of the Association of Planters Kerala (APK) - an umbrella organization of planters of tea, rubber, cardamom and coffee - said the plantation sector can go haywire in two months   Mounting costs of producing tea, rubber, cardamom and coffee and the low prices the...

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Do we need global size banks or Indian banks that meet the growing needs of economy? Is M&A an answer for improving health of our financial system or will it make systemically important banks a greater strain for the regulator than now?   Banking Sector Reforms Committee in 1998...

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IANS 20 October 2015
Filmmakers unable to complete their movies or who had to abandon them before completing will now be eligible for relief following the latest directive of the Income Tax department doing away with a provision of claiming tax on abandoned projects.   "It is clarified that Rule 9A does...

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Moneylife Digital Team 20 October 2015
Over the past 15 years, Maruti's royalty to Suzuki grew 6.6 times when the average sale realisation per car increased by just 1.6 times. Royalty is not Suzuki’s indelible right – it must explain its coercive charges on Maruti’s cash flows, says IiAS   The royalty payouts by Maruti...

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IANS 20 October 2015
Noting the massive stressed assets, or bad loans, of state-run banks, Prime Minister Narendra Modi on Monday said the government would be infusing Rs.70,000 crore in the public sector banks (PSBs) in the next few years.   "Bad loans in the past few years are a problem but we can't...

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IANS 20 October 2015
The Delhi High Court on Monday imposed Rs.50,000 cost on AAP legislator Surender Singh for delay in filing response on an election petition of BJP leader Karan Singh Tanwar alleging that he furnished false information about his educational qualification in a poll affidavit.   Joint...

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