ECONOMY & NATION


As much as $120 billion will be invested in Indian Railways in the next five years for expansion and upgradation, said Railway Minister Suresh Prabhu on Tuesday.   Indian Railway did not see any investments in the past 25 years, so there will be an investment of $120 billion to catch...

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There were various irregularities on the part of Delhi government in implementing social social welfare schemes, the Comptroller and Auditor General (CAG) pointed out in its latest report.   Poor performance of mid-day meal scheme and failure to obtain fund utilisation certificates...

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Greece is analysing possibly taking legal action against the European institutions to block its exit from the eurozone, according to Greek Finance Minister Yanis Varoufakis. Greece is expected to fail to make Tuesday's loan repayment to the International Monetary Fund (IMF).   "The...

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Budget passenger carrier SpiceJet on Tuesday launched a "Hand Baggage Only" fares.   The new fare scheme is intended to offer discount for passengers who carry hand baggage only. The scheme will be available on most direct domestic flights with a minimum 30 days advance...

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The CBI filed a chargesheet against a former Dena Bank official, a top company official and two others for defrauding the bank to the tune of Rs.220 crore (Rs.2.20 billion) last year, an official said here on Tuesday.   The accused are Pritam V. Nagarkar, the then chief manager of...

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AIADMK general secretary and Chief Minister J. Jayalalithaa returned to the Tamil Nadu assembly on Tuesday by a record victory margin from the Radkhakrishnan Nagar constituency here.   Jayalalithaa polled 160,432 votes while her nearest rival, Communist Party of India's (CPI) C....

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Moneylife Digital Team 30 June 2015
TV18 and CNN will not renew their licencing agreement for CNN IBN news channel from next year   TV18 Broadcast Ltd and Cable News Network Inc (CNN) have decided not to renew their 10-year licensing agreement for English news channel CNN IBN in India. This means from January 2016...

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Credit rating agency Moody's Investors Service (MIS) on Tuesday said it expects India's rural economy to remain subdued through the fiscal year ending March 2016.   It said that this forecast will materialise, particularly, if the risk of below-average monsoon rainfall takes...

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The Reliance Industries (RIL)-led consortium partner in the eastern offshore KG-D6 block, Niko Resources of Canada, on Monday said it may defer development of the R-Cluster and other satellite gas fields if the gas price outlook remains uncertain.   The consortium, that includes...

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The political group leaders of the European Parliament (EP) on Monday called Greece and the creditors to return to the negotiating table before the end of Tuesday.   As the Greek debt talks deadlocked again, EP President Martin Schulz and political group leaders gathered in...

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The Greek government on Monday confirmed that banks will be closed all week, after a decision by the European Central Bank (ECB) not to extend emergency funding.   In a decree, the government cited the "extremely urgent" need to protect the financial system due to the lack of...

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New norms of provisioning with effect from the beginning of this year will affect the profitability of banks further   The Financial Stability Report (FSR) of June 2015 released by Reserve Bank of India (RBI) last week says that the Indian economy is resilient but there is no room...

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Warning that the global economy is on the brink of a situation similar to the Great Depression of the 1930s, Reserve Bank of India Governor Raghuram Rajan has asked central banks from across the world to define "new rules of the game" to avert a repeat of the recent global financial...

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India's apex bank on Thursday said the foreign portfolio investors (FPIs) inflows might be impacted by the spill-over effect from the monetary policy stance in advanced economies.   "While foreign portfolio flows to India have been strong during the past year, unexpected changes in...

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Days after the government urged banks to cut interest rates in line with the apex bank's earlier monetary policy easing, the country's leading private sector lender ICICI Bank on Thursday announced a reduction of 0.05 percent in its base rate.   According to the bank, the reduction in...

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Amit Dasgupta (IANS) 26 June 2015
The prime minister needs to urgently recognize that in a globalizing world, genuine engagement is measured principally in economic terms   Prime Minister Narendra Modi, with the personal attention he has paid to foreign policy, lifted bilateral engagement to an entirely different...

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Moneylife Digital Team 25 June 2015
Rahul Yadav has quit again as CEO of Housing.com, say media reports   Rahul Yadav, the 26-year old chief executive (CEO) of Housing.com, has decided to step down for the second time. This is Yadav's second resignation in less than two months, and according to a media report, the...

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Moneylife Digital Team 25 June 2015
PE players, NBFCs and informal private lenders provide funds to developers at initial states. The initial high cost only keeps getting multiplied and is the key reason why housing is becoming more unaffordable for many, says the HDFC Chairman   The regulators need to allow banks and...

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Both the state-run organisations have lost their value. BSNL is down to not more than $20 billion from close to $70 billion. So is the fate of MTNL   The debate on saving state-run Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) have been going on for the past...

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The Karnataka government on Tuesday moved the Supreme Court challenging the state high court's May 11 verdict acquitting Tamil Nadu Chief Minister J. Jayalalithaa and others in a disproportionate assets case.   The Karnataka government has urged the apex court to stay the acquittal of...

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