ECONOMY & NATION


India's latest auction of spectrum for telecom operators attracted among the highest bids by global standards at $18 billion. But for an industry in heavy debt and low in revenue per subscriber, the question: Are auctions in the interests of customers and industry?   The latest...

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As e-auction of telecom spectrum concluded on Wednesday, analysts said the winners faced a piquant situation now as their steep bids will burden their financial state further with limited elbow room to pass it on to customers in the form of tariff hikes.   The auction concluded after...

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The Enforcement Directorate on Wednesday arrested Rose Valley Group chairman Gautam Kundu in connection with the multi billion rupee ponzi scam.   ED sources said Kundu was taken into custody after he failed to give proper answers during sustained questioning spread over six hours on...

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 Trust an ex-telecom minister who is also a legal eagle -- an attribute he shares with current incumbent Ravi Shankar Prasad -- to point out a "crucial flaw" in the on-going spectrum auctions.   Kapil Sibal says this is "a government of hiccups, that doesn't think things through and...

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After 19 days of rigorous bidding, the auction of airwaves for telecom operators concluded Wednesday, with officials initially placing the figure of cumulative bids at over Rs.100,000 crore.   The auction was conducted for 800 MHz, 900 Mhz, 1800 MHz and 2100 MHz covering both mobile...

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Saurabh Sarkar joined MCX Stock Exchange (MCX-SX), the country's newest full-fledged bourse, as its managing director (MD) and chief executive officer (CEO) in February 2014. Mr Sarkar, former MD and CEO of United Stock Exchange of India, had earlier worked with global financial services...

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How to buy stocks of banks and finance companies?   Investing in banking and finance stocks has been rewarding, in India. Looking at the prices of banks’ shares, no one will believe that our banking system hides a huge fictitious asset, debts that may be never repaid, but continue...

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Two public sector banks have issued notices to leading Telugu actor Akkineni Nagarjuna's film studio to recover loans amounting to Rs.62 crore. The actor is hopeful of resolving the issue in a few days.   Nagarjuna has denied reports that Andhra Bank and Indian Bank have seized the 7...

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The growth of the corporate bond market is largely impeded by the high government borrowings through the issue of bonds, said a senior RBI official.   Speaking at a conference here, Reserve Bank of India's (RBI) deputy governor R. Gandhi said the huge supply of government bonds is one...

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Painter Shuvaprasanna Bhattacharya was on Monday grilled for nearly five hours by the Enforcement Directorate in connection with a business deal he made with Saradha Group chief and now jailed scam kingpin Sudipta Sen.   Perceived to be close to leaders of West Bengal's ruling...

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Reserve Bank of India (RBI) deputy governor S.S. Mundra on Monday said there were no differences with the government over setting up an agency for raising public debt.   Finance Minister Arun Jaitley had on Sunday denied any rift with RBI governor Raghuram Rajan on this...

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The Supreme Court on Monday gave Sahara a "final and last opportunity" to raise Rs.10,000 crore to make a part payment to investors for the money raised through OFCDs in 2008-09, for release of Subrata Roy and two directors from custody.   The apex court bench of Justice T.S.Thakur,...

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Perhaps the government could consider setting up a statutory body to initially handle management of surplus funds, borrowings of public sector organisations and management of state government borrowings. Over time, this body may relieve RBI from public debt management...

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India's largest mortgage lender, State Bank of India (SBI) would even offer ships online in the future after studying the analytical data on its recent e-auction of around 300 properties, said a senior official on Friday.   "We have a small coastal transport ship in our inventory of...

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Electronic voting machines, or EVMs, may have made the conduct of elections easy and tamper-proof, but Goa's top polling official says the use of the traditional ballot paper is both cheaper and better suited for small states.   State Election Commissioner M. Modassir should know. He...

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The bill for development of mines and minerals, to bring a regime of auctioning blocks for prospecting, was passed by parliament on Friday even as opposition parties, notably Congress and Left Front, demanded a re-look by the select committee.   The bill was first put for voting in...

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Investment in the name of your spouse and children is common but make sure you don’t fall foul of the taxman, Read the dos and don’ts of such investment   Are you paying too much by way of tax, especially on investment income? You may be tempted to transfer your assets in the names of...

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Come April - the dawn of the new fiscal - and bankers would hit the streets to hold silent demonstrations outside the headquarters of corporate loan defaulters pressurising them to pay up their dues, said a top union official.   The bank union has decided to take on a national scale...

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The Delhi High Court on Thursday ordered the civil aviation regulator to de-register six aircraft of SpiceJet for non-payment of dues to some of its lessors -- an issue which the budget carrier said is being resolved.   Justice Rajiv Shakdher also asked the Directorate General for...

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In a move that would likely impact both emerging markets like India and advanced economies, the US central bank Wednesday dropped an assurance to be "patienta" in raising interest rates and signaled the hike could come by mid year.   But in a statement issued after a two-day...

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