ECONOMY & NATION


IT major Tata Consultancy Services on Wednesday said that Tata Sons will participate in the company's upcoming share buy-back.   "In terms of Sebi buyback regulations, under tender offer route, the promoters have the option to participate in the buyback," the IT major informed the BSE...

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The State Bank of India (SBI) on Wednesday said that the Reserve Bank of India (RBI) needs to give some incentives to banks for resolution of bad loans in terms of provisions or extending the deadline of March 31 to clean up their books.   "Wherever resolution is being attempted, some...

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Despite the attractive incentives offered by multi-national cola companies, nearly 70% of members of Tamil Nadu Vanigar Sangangalin Peramaippu have stopped selling Coca Cola and Pepsi brands, a top leader of the trader's organisation said.   The traders association in January called...

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Fifteen years ago, when the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (also known as the SARFAESI Act) was passed, first as an ordinance and later as an Act, it took quite some time for borrowers in the country to fathom that the...

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The Enforcement Directorate (ED) on Tuesday attached nearly Rs 80 crore funds of satellite services' provider Devas Multimedia Ltd under the Prevention of Money Laundering Act (PMLA) for its alleged illegal deal with the Indian space agency's commercial arm Antrix Corporation...

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IANS 28 February 2017
Reflecting a marginal impact of the November demonetisation measure, India's GDP for the third quarter ended December, estimated at Rs 30.28 lakh crore, recorded a growth of 7 per cent, compared with 7.3 per cent in the second quarter, official data showed on Tuesday.   Disclaimer:...

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IANS 28 February 2017
Banking operations across the country came to a halt on Tuesday as 10 lakh bankers staged a strike against the government's "anti-people banking reforms", said a bank union leader.   The strike was called by the United Forum of Bank Unions (UFBU), comprising nine...

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IANS 28 February 2017
Inclusive growth and tax reforms remain key challenges to India's growth, Organisation for Economic Co-operation and Development (OECD) said on Tuesday, emphasising that revenue from income taxes needs to be increased.   "Firstly, India needs to finance access to quality public...

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IANS 28 February 2017
India's fiscal deficit in the April-January period of the current fiscal touched Rs 5.64 lakh crore or 105.7 per cent of Budget estimates for fiscal 2016-17 - as against 95.8 per cent of Budget in the same period of last year, government data showed on Tuesday.   As per the Controller...

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Moneylife Digital Team 28 February 2017
The Tata Group has agreed to pay $1.18 billion to Japanese company NTT DoCoMo to settle the dispute between them. Tata had already deposited the amount with the Delhi High Court. As part of the settlement, both the parties would withdraw cases against each other, and the Japanese company...

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Amit Kapoor (IANS) 28 February 2017
It is not often that the world finds itself at the cusp of a revolution, and an industrial one is even more uncommon. India missed the bus on the first major industrial revolution that was brought about in 18th century Britain, on account of being on the wrong side of colonial history. No...

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IANS 28 February 2017
Banking operations across the country came to a halt on Tuesday as 10 lakh bankers staged a strike against the government's "anti-people banking reforms", said a bank union leader.   The strike was called by the United Forum of Bank Unions (UFBU), comprising nine...

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When two of corporate India’s best known names—Tatas and Infosys—are rocked by allegations of dubious governance practices, it is time to rethink our absurd expectations from the board of directors. While regulations have saddled ‘independent directors’ with more onerous burdens at every...

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Prathamesh Mulye (IANS) 27 February 2017
Despite the governments efforts to attract investment under its Make in India campaign, sales of manufactured goods fell 3.7 per cent during 2015-16 -- the first decline in seven years --s parking fears of layoffs and debt default in the months to come.   Spurred by a global slowdown...

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IANS 27 February 2017
Amid concerns over cheap imports of ferro alloys from Malaysia, Indian ferro alloy producers on Monday called for protective measures from the Steel Ministry.   "A significant amount of ferro alloys is imported in India from Malaysia as they were able to produce the same at a much...

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IANS 27 February 2017
Tax authorities in India and other countries are probing HSBC Bank, including its Swiss and Dubai offices, for allegedly abetting tax evasion by four Indians and their families, the multinational lender has disclosed.   "Various tax administrations, regulatory and law enforcement...

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A fair system is one where a borrower who opts for a floating interest loan would pay more when interest rates rise and gets the benefit of a reduction in rates automatically. In India, lenders quickly hike interest rates by increasing the repayment tenure as soon as interest rates inch up,...

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IANS 24 February 2017
The State Bank of India should come with a voluntary retirement scheme after considering the overall staffing picture after merger of five associate banks instead of the five announcing such a scheme before the merger, said the leader of a major bank union.   "The five associate banks...

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Moneylife Digital Team 24 February 2017
The creation of a 'bad bank' could accelerate the resolution of stressed assets in India's banking sector, but it may face significant logistical difficulties and would simultaneously require a credible bank recapitalisation programme to address the capital shortfalls at state-owned banks,...

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Moneylife Digital Team 24 February 2017
While dismissing a petition to quash first information report (FIR), the Delhi High Court has categorically stated that Michael Ferreira and Malcolm Desai, the two main stakeholders of Vihaan Direct Selling (India) Pvt Ltd are the primary beneficiaries of QNet, the multi-crore scam. Srinivas...

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