ECONOMY & NATION


Why are there so many bank branches in a tiny town Here is a quiz question. Which town in India has the maximum number of bank branches and is the favourite destination for public sector banks to launch new products and services? In case you are clueless, the answer is Sivaganga, a...

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Shampita Das 20 January 2014
While some of the recommendations of the Nachiket Mor Committee are similar to those of Usha Thorat Committee, the key would be to see how many of these come to effect and get implemented The Reserve Bank of India (RBI), in September, 2013 had set up a ‘Committee on Comprehensive...

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There are opportunities galore for both the countries in terms of Korean investment in India India's single largest foreign direct investment (FDI) project, the $12 billion (estimated at Rs52,000 crore) POSCO steel plant in Odisha, got the necessary clearance before the arrival of Park...

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Since banks are the biggest distributors for all financial products, they need to operate within a strong consumer protection framework. This is lacking The Reserve Bank of India (RBI) is, finally, working on a consumer protection framework that will empower it to ensure that banks treat...

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The real problem with present day peer-to-peer or P2P lending is, several times, lenders are clueless about financial health of the borrower. This is because the information used by the P2P lenders comes from the borrowers and can be inaccurate or intentionally false Peer-to-peer (P2P)...

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Moneylife Digital Team 17 January 2014
Volumes across most UV brands fell in December as a sharp sales drop was seen for urban SUVs – Ertiga, Duster, Ecosport, Terrano, while sales held up for XUV500. In power bikes, Yamaha’s FZ gained share smartly while Bajaj Pulsar witnessed the sharpest decline in volumes Auto sales in...

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Moneylife Digital Team 17 January 2014
While commodity bourses will not apply initial, additional and special margins on hedgers or sellers who give delivery, the Exchanges would continue to collect MTM margins Commodities market regulator Forwards Markets Commission (FMC) has exempted hedgers from paying risk margin in...

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Moneylife Digital Team 17 January 2014
Indirectly referring to its 2012 verdict by which it had quashed the DA case against Mayawati merely on technical grounds the Supreme Court said that CBI should have got proper advice and acted on that basis The Supreme Court on Friday issued a notice to Bahujan Samaj Party (BSP) chief...

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If details can be worked out, there could be substantial trade with Pakistan via the land border at Wagah, instead of indirect trade through UAE Just about twenty years ago, in 1996, India extended the ‘Most Favoured Nation’ (MFN) status to Pakistan, and it was expected that they would...

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Moneylife Digital Team 16 January 2014
Gary Kenneth Toomey is the second CEO after Nikos Kardasis to leave Jet Airways within seven months. Ravishankar Gopalakrishnan, has been appointed as 'acting chief executive officer' of the carrier Naresh Goyal promoted Jet Airways has lost another chief executive within a span of just...

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State-run companies need to help the Indian government to overcome fiscal deficit and still make an investment in a profitable venture Regular readers of Moneylife know that Coal India is the world's largest coal producer, owning most of the coalfields in the country, and producing...

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Moneylife Digital Team 15 January 2014
Inflation based on WPI declined to 6.16%, the lowest since July 2013 raising hopes of a rate cut by RBI later this month A moderation in vegetable prices helped to pull down inflation to a five-month low of 6.16% in December. This raises hopes of a rate cut by the Reserve Bank of India...

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There is an urgent need to encourage corporate bodies to invest in building up the infrastructure facilities for storage and exports of foodgrains In order to support the Food Security Act, the Ministry of Agriculture has estimated that the essential foodgrains in India, to the extent...

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Moneylife Digital Team 14 January 2014
According to Care Ratings, the RBI may contemplate a rate cut if the WPI and CPI figures continue to move downwards over the next two months There finally seems to be some respite in the economy with the retail inflation for the month of December 2013, as measured by the consumer price...

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Shambo Dey 14 January 2014
This is the concluding part of a two-part series on the technical and legal issues of virtual currencies, especially Bitcoins. One of the major legal issues in Bitcoin like economy is anyone could be a victim of theft or malpractice and there is no consumer protection available This part...

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It is ironic that pellet plants and iron ore mines are both located in Karnataka. Yet the state obtains iron ore from Chhattisgarh at great cost of transportation, making it unviable for export It may be recalled that, on account of illegal mining activities, the Supreme Court had banned...

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Moneylife Digital Team 13 January 2014
The wheat production this year will be an all time high production and will beat all previous records, according to Minister of State for Agriculture and Food Processing Industries, Mr Tariq Anwar at an ASSOCHAM event held in New Delhi India is likely to achieve record wheat production...

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Shambo Dey 13 January 2014
In this two part series, we take a look at technical and legal issues related to virtual currencies, especially Bitcoins. This is the first part on technical aspects of Bitcoins Before we go into a discussion of Bitcoins, it is important to understand what digital cash is.   What...

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Moneylife Digital Team 13 January 2014
Higher exports and weak imports have provided enough room for India’s merchandise deficit to narrow. However, weak IIP growth, high inflation require immediate corrective action, says SBI Research Trade numbers released on Monday indicate export growth at merely 3.5% and imports...

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Moneylife Digital Team 13 January 2014
Bharat Forge’s unit sold its entire 51.85% stake in its eight year old JV with China-based FAW group for Rs175 crore Bharat Forge Ltd (BFL), said its unit sold its entire 51.85% stake in its joint venture with China-based FAW group for Rs175 crore. The company’s unit, Bharat Forge Hong...

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