ECONOMY & NATION


Moneylife Digital Team 10 December 2014
Wisdom Agro Tech India Limited had been collecting funds from the "customers/investors” for its land schemes, prima-facie violating the provisions of the SEBI Act and SEBI (Collective Investment Schemes) Regulations, 1999   S Raman, whole time member, SEBI, has passed an order on...

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Moneylife Digital Team 10 December 2014
VAYA is a business correspondent which facilitates savings and loans for self-help groups of women on behalf of banks   Vikram Akula, the controversial founder and former chairperson of SKS Microfinance, who was removed from SKS Microfinance after the Andhra Pradesh microfinance...

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Moneylife Digital Team 09 December 2014
Reliance Industries' latest JV promises to shake up a staid textile sector, in the first significant Indo-China industry co-operation since PM Modi's visit   In a statement today, Reliance Industries Limited said that it was entering into a joint venture with Shandong Ruyi Science and...

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A reference needs to be made for a quick policy review on coal bed methane -CBM, so that, when the coal blocks are allotted, it is imperative for the allottees to plan work on simultaneous extraction of CBM, when they start the mining operation   In line with the Supreme Court...

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Moneylife Digital Team 09 December 2014
During November, vehicle sales across categories increased 5.03% to 16.03 lakh units from 15.27 lakh units same month last year   India's domestic passenger car sales during November 2014 increased 9.52%to 1.56 lakh units compared with 1.43 lakh units in the year-ago month.  

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Moneylife Digital Team 08 December 2014
Families of Narayana Murthy, Nilekani, K Dinesh and SD Shibulal have offloaded their shares resulting Infosys to tumble 5% to Rs1,968 on Monday   Infosys Ltd's four founder families including NR Narayana Murthy, Nandan Nilekani, Dinesh Krishnaswamy and SD Shibulal have sold some of...

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The Chinese economy is slowing. Producer prices in China have been falling for nearly three years. Consumer prices have dropped to a five-year low making the Eurozone’s problems with deflation look tame   In the United States in July of 2008, a litre of gas reached an all-time high of...

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Moneylife Digital Team 04 December 2014
A committee headed by DG of CEIB has been formed to study modalities of trade based money laundering and device methods to deal with problems   To curb the menace of illicit fund flows, the Indian government has set up a high level panel that will look into trade-based money...

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Moneylife Digital Team 04 December 2014
Goldman Sachs also said that it expects crude oil to climb up to $85 in 2015, while giving a positive outlook to India's prospects   The Indian economy will grow at 6.3% in 2015, said Tushar Poddar, India economist, Goldman Sachs. He expects India to become the fastest growing...

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Moneylife Digital Team 04 December 2014
With the latest deal, Sahara has come a step closer to raising the Rs10,000 crore that the SC had stipulated in order to secure bail for its chief, Subroto Roy   Sahara sold a big land parcel at the outskirts of the national capital for Rs1,211 crore to Gurgaon-based developer M3M...

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Moneylife Digital Team 04 December 2014
Shiv Sena has been assured of five cabinet rank posts and seven ministers of state in the Fadnavis government in Maharashtra   Uddhav Thackeray-led Shiv Sena on Thursday finally decided to join the Bharatiya Janata Party (BJP) government in Maharashtra. On Friday, 12 members of...

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If the export subsidy of Rs3,300 per tonne is given, by extending the scheme, and bearing in mind the growing sugar stocks on hand, it would bring great relief to the industry   As per details released by the Indian Sugar Mills Association (ISMA), 45 mills, including 14 cooperatives...

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Protection of domestic industry is vital to India’s survival; and this is possible, when strong steps are taken to eliminate avoidable imports from China, in particular   According to the press reports available, the Indian Met Coke Manufacturers Association (IMCOM), the industry is...

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ARCs will come of age only when the legal process turns highly efficient   The 15:85 structure introduced by Reserve Bank of India (RBI) in August, raising asset reconstruction companies’ (ARC) minimum security receipts (SR) subscription to 15%, for acquisition of non-performing...

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Moneylife Digital Team 03 December 2014
The accused were booked following an order from the Sessions Court order which directed the ACB to probe the alleged irregularities in Slum Rehabilitation Authority -SRA project in suburban Bandra   Maharashtra Anti-Corruption Bureau (ACB) has filed a first information report (FIR)...

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Moneylife Digital Team 02 December 2014
After declaring Kingfisher Airlines and its four directors, including Vijay Mallya as defaulter, the United Bank has identified United Breweries Holdings, the guarantor to this loan, as wilful defaulter   United Bank of India has identified Vijay Mallya-led United Breweries Holdings,...

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Moneylife Digital Team 02 December 2014
Although, the government has increased excise duty on petrol by Rs2.25 a litre and on diesel by Re1, it will not affect retail prices   The Indian government on Tuesday raised excise duty on petrol and diesel by Rs2.25 and Re1 a litre, respectively. However, consumers will be spared...

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It is not clear, at the moment, if the e-auction procedure will be adopted and whether priority will be given to actual steel producers   The Central Empowered Committee (CEC), set up by the Supreme Court had conducted a survey of the mining areas in Karnataka and has given various...

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Moneylife Digital Team 02 December 2014
While keeping key rates unchanged, the RBI Governor has said if current inflation momentum and changes in inflationary expectations continue, and fiscal developments are encouraging, a change in the monetary policy stance is likely early next year   The Reserve Bank of India (RBI), in...

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Moneylife Digital Team 02 December 2014
A Magistrate Court in Latur levied a fine of Rs4,000 after Hindustan Unilever pleaded guilty under the Legal Metrology Act and Rules   Consumer goods company Hindustan Unilever Ltd (HUL) has been fined Rs4,000 by a Court in Latur in Maharashtra after the company pleaded guilty of...

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