ECONOMY & NATION


Moneylife Digital Team 10 December 2013
Bharti Aritel and Reliance Jio will utilise each other’s infrastructure to provide better quality of services Reliance Jio Infocomm Ltd (Reliance Jio), a subsidiary of Reliance Industries Ltd (RIL), and Bharti Airtel Ltd (Bharti) has decided to share each other’s telecom infrastructure....

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Moneylife Digital Team 10 December 2013
The draft guidelines for the new power regulatory regime and price has been formulated by CERC and it is expected to hit NTPC the worst National Thermal Power Corporation Ltd (NTPC) share crashed 11.26% Tuesday on BSE following news of new draft guidelines issued by Central Electricity...

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Bank union, AIBEA, demands that banks recover bad loans from wilful defaulters Trade unions are usually quick to announce protests to demand higher wages or better working conditions. This time, however, the All India Bank Employees Union (AIBEA), one of the biggest employees unions in...

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Moneylife Digital Team 10 December 2013
The price of LPG cylinder was hiked after the government raised commission paid to dealers by over 9% to Rs40.71 per 14.2-kg cylinder The price of domestic cooking gas (LPG) was on Tuesday hiked by Rs3.46 per cylinder after the union government raised the commission paid to dealers by...

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Bonds are market-linked instruments. Making money from bonds involves some amount of market-timing Shriram City Union Finance (SCUF) has launched its issue of secured non-convertible debentures (NCDs). SCUF NCDs will have annual coupon rate of 11% for a period of 36 months, 11.25% for 48...

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Moneylife Digital Team 09 December 2013
According to Nomura, if anti-incumbency proves to be a core theme in the 2014 general election, it will clearly be to Congress' disadvantage overall – although it does not follow, of course, that BJP would necessarily be the main beneficiary The state assembly elections are viewed by...

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MSMEs being the backbone of economy have been in need of funds to grow themselves but banks have adopted an approach which has failed to meet their needs When it comes to lending for business activities, banks tend to prefer large business entities to small players. This bias comes from...

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RBI's approach on too big to fail gives more weightage to factors such as securities issued and bought by banks in India and overlooking risky assets and growing NPAs of the lenders The financial crisis that hit the world economy at the beginning of the year 2008 was an eye opener. It...

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Moneylife Digital Team 05 December 2013
During November, all automakers reported weaker-than-expected numbers due to soft demand Indian auto industry witnessed weaker sales during November across the segments. While passenger car and medium and heavy commercial vehicles (MHCV) volumes declined tractor sales were the only...

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Moneylife Digital Team 05 December 2013
Vijay Mallya's Kingfisher owes Rs2,673 crore is the largest defaulter of PSBs while Winsome Diamond and Jewellery Co with dues of Rs2,660 crore is the second biggest defaulter Vijay Mallya-owned and now defunct Kingfisher Airlines is the biggest defaulter and owes Rs2,673 crore to public...

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Vellalapatti Swaminathan Iyer (ITATonline.org) 05 December 2013
Nokia India has got itself into a terrible mess over alleged failure to deduct TDS on royalty payments to its parent company. What would have ended with a mere 10% tax rate has now morphed into a horrendous tax liability. It will take all of Harish Salve’s wizardry to pull Nokia out from the...

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Moneylife Digital Team 04 December 2013
RBI has permitted infrastructure companies to tap the external commercial borrowings, or ECB route, to enable them to get much needed funds to kickstart stalled projects In an effort to boost the otherwise stalled infrastructure sector and get projects off the ground, the Reserve Bank of...

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Marian Wang (ProPublica) 04 December 2013
The Consumer Financial Protection Bureau announced increased oversight of the companies that act as go-between for student borrowers and lenders Sallie Mae and other large student-loan servicers -- the companies that act as a go-between for borrowers and lenders -- will soon be getting...

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Moneylife Digital Team 03 December 2013
Only SME, mortgage, real estate, construction and roads sectors reported meaningful growth in October 2013, reports Nomura Equity Research based on RBI released sector-wise monthly loan data As of October 2013, aggregate non-food credit growth was 17% y-y (year-on-year), with primary...

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Moneylife Digital Team 03 December 2013
In their latest note, Morgan Stanley has revised upwards their Indian economy growth estimates for 2013, 2014 as well as 2015. At the same time, it is cautiously optimistic about Indian economy prospects Morgan Stanley believes that the Indian economy will be able to achieve 6% growth by...

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Moneylife Digital Team 03 December 2013
With growth bottoming out and a mild recovery likely in FY15, Nomura expects a slow rise in imports for India next year with the CAD estimated at 3.2% of GDP The Reserve Bank of India released the quarterly balance of payment data that showed a sharp fall in the current account deficit...

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Moneylife Digital Team 03 December 2013
Hero MotoCorp and Magneti Marelli would invest $8.5 million in three years in their JV HMC-MM Auto to produce new gen powertrains in India Hero MotoCorp, the country's largest bike maker on Tuesday said it has partnered with Milan (Italy) based Magneti Marelli for the manufacturing new...

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Moneylife Digital Team 03 December 2013
No sales growth and continued overcapacity in T & D makers in 2QFY14, says Nomura in its research note An analysis of the domestic power business of Crompton Greaves, ABB India and other small listed transformer makers suggests that 2QFY14 witnessed a modest margin uptick, says Nomura in...

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Moneylife Digital Team 02 December 2013
As per the draft guidelines, RBI would allow banks with good credentials to operate as insurance brokers and leverage their branch to increase the penetration of the insurance sector The Reserve Bank of India (RBI) has decided to permit banks to become insurance brokers in order develop...

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Moneylife Digital Team 02 December 2013
HSBC PMI for India rose to 51.3 in November from 49.6 in October led by a pickup in output and new orders India’s manufacturing purchasing manager index (PMI) rose to 51.3 in November from 49.6 in October, above the expansion/ contraction threshold of 50 and led by a pickup in output and...

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