ECONOMY & NATION


IANS 09 January 2017
As part of the drive to unearth black money, the government has asked banks to obtain the permanent account number (PAN) or Form 60 if PAN is not available, from all bank account holders by February 28, 2017, an official statement said on Sunday.   "Income Tax Rules have been amended...

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IANS 07 January 2017
The advance estimate of 7.1 per cent GDP released by Central Statistical Organisation (CSO), will have major errors as it does not include the data for the months after demonetisation, domestic rating agency Icra has said.   The agency on Friday pegged the expected growth for 2016-17...

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IANS 07 January 2017
Denying any breach of confidentiality, ousted Tata Sons Chairman Cyrus Mistry has asked the company to withdraw its legal notice of December 27.   Through a communication from his law firm Maneksha & Sethna, Mistry denied that he has breached any of his legal duties as a Director or...

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IANS 06 January 2017
Neither the insurance company nor its agents are trustworthy sources for a wide spectrum of people a study by industry body Assocham found.   In a statement issued on Friday, Assocham said: "Among the first set of people with no specific knowledge of insurance and finance and those...

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IANS 06 January 2017
The Indian economy is expected to grow at 7.1% this fiscal, according to an official advance estimate for the year released on Friday, but without taking into consideration the impact of demonetisation. The actual expansion in the first six months of 2016-17 stood at 7.1%.   According...

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IANS 06 January 2017
A telecom tribunal on Friday said subscribers' interest is paramount, while hearing a case where Bharti Airtel has challenged the sectoral watchdog's permission to Reliance Jio for continuing its free services offer.   The Telecom Disputes Settlement and Appellate Tribunal (TDSAT)...

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IANS 06 January 2017
Apple on Friday announced that its app developers earned over $20 billion in 2016 -- up over 40 per cent from 2015 and several of those talented minds are from India -- stating that New Year's Day was the highest single day ever for the App Store with nearly $240 million in...

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Moneylife Digital Team 06 January 2017
The Supreme Court has asked the Central Bureau of Investigation (CBI) to look into the allegation of an unnecessary purchase of 111 aircrafts and lease of some others by Air India between 2004 and 2008 when the Congress-led United Progressive Alliance (UPA) was in office. This entailed a cost...

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Devanik Saha (IANS) 06 January 2017
The New Year's eve sexual attacks against female revellers in Bengaluru may have generated nationwide outrage, but most such cases end up with no punishment: No more than one in 100 cases registered in Karnataka under Section 354 of the Indian Penal Code (IPC) -- "Assault on women with...

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IANS 06 January 2017
The Supreme Court on Friday proposed to cancel the 2G licence granted to Aircel if the owner of Maxis, the Malaysia-based Anantha Krishnan, who bought the majority shares of the Indian telecom company, and his one-time key aide and Director Augustus Ralph Marshal fail to present themselves...

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IANS 06 January 2017
A Delhi-bound SpiceJet flight on Friday faced a technical hiccup but landed safely after following the emergency procedure, the airline said.   All passenger and crew are safe, SpiceJet said in a statement.   "SpiceJet flight SG 136, Bengaluru to Delhi, experienced, during...

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IANS 06 January 2017
The Central Bureau of Investigation (CBI) has stared its probe in the alleged suspicious transactions of Rs 22 crore involving non-existent entities in India and Singapore in Malaysian carrier AirAsia.   The case is already being probed by the Enforcement Directorate.   Top...

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Moneylife Digital Team 05 January 2017
The demonetisation drive has pushed credit growth to a historic low. Banks have received bumper deposits, leading to major reduction in interest rates. It would be interesting to see if credit growth picks up in the near future, says a research note.    State Bank of India (SBI) says...

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IANS 05 January 2017
The National Green Tribunal (NGT) said on Thursday that the union Environment Ministry's notification exempting construction projects up to an area of 150,000 sq mtrs from obtaining clearance shall not be adhered until further orders.   The Environment Ministry in December 2016 issued...

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IANS 05 January 2017
Reacting to media reports about the quantum of demonetised currency that has been returned to the banks, the Reserve Bank of India on Thursday said such estimates may not be correct.   The RBI said the aggregating of accounting entries made at the various currency chests still...

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IANS 05 January 2017
The Supreme Court on Thursday asked the CBI to investigate an alleged scandal in the purchase and leasing of aircraft by Air India between 2004 and 2008 when the Congress-led UPA was in office.   The allegations, made by NGO Centre for Public Interest Litigation, include allotment of...

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IANS 05 January 2017
The Bank Employees Federation of India on Wednesday said the Reserve Bank of India's statement on December 31 contradicted its notification dated November 8.   "Reserve Bank of India (RBI) has given a facility for exchange of specified bank notes (SBNs) during a grace period to Indian...

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IANS 05 January 2017
Admitting that the Goods and Services Tax (GST) Council was racing against time on the government's implementation target of April 1, Finance Minister Arun Jaitley on Wednesday said it is hoping to resolve the vexed issue of dual control over assessees in its next meeting on January 16, even...

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Moneylife Digital Team 04 January 2017
The special MPID court on Wednesday sent four prime accused in the multi-crore QNet scam, including Michael Ferreira, former world champion of billiards to police custody for seven days. Thane Police had arrested all the four accused.   On Tuesday, the economic offences wing (EOW) of...

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Abhirup Ghosh 04 January 2017
Given the level of performance over the past one and a half years, it can be easily forecast that the non-banking financial companies (NBFCs) will continue to follow a downward trend. Further, the second half of the current year will also remain affected due the Government’s demonetisation...

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