ECONOMY & NATION


Moneylife Digital Team 01 July 2016
ICICI Bank Ltd has evoked its strategic debt restructuring (SDR) provision in Jaypee Associates Ltd (JAL). According to Religare Capital Markets Ltd, so far lenders have evoked SDR in 24 companies with a total debt of Rs2 lakh crore, including Rs70,000 crore (consolidated) for...

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Moneylife Digital Team 01 July 2016
While clarifying that the pre-2005 banknotes are still valid, the Reserve Bank of India (RBI) said from 1 July 2016 such notes can be exchanged only at its select offices across the country. Earlier, the central bank had said such notes could be exchanged at identified bank branches and RBI...

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The Indian Air Force (IAF) on Friday inducted two Tejas Light Combat Aircraft (LCA) into its 'Flying Daggers' 45 Squadron here.   Southern Air Command Air Officer Commanding-in Chief Air Marshal Jasbir Walia received the certified documents of the indigenous fighters from state-run...

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India's fiscal deficit during April-May at Rs 2.28 lakh crore touched 42.9% of the Budget estimates for fiscal 2016-17, as compared to the 37.5% it had reached in the same period a year ago, government data showed on Thursday.   As per the Controller General of Accounts, the deficit,...

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State-run Indian Oil Corp (IOC) has cut the price of transport fuel effective on Friday by under a rupee each, of petrol by 89 paise a litre and of diesel by 49 paise, both at Delhi with corresponding decrease in other states.   Making its previous fortnightly revision in fuel prices...

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There seemed to be no respite from high prices of pulses like Urad and gram on Thursday as paucity of stocks and restricted supply continued to push up the wholesale prices.   At the bulk purchase markets in New Delhi and parts of northern India, there have been reports of overall...

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Banks would need to write off their losses between 40 and 70 per cent in at least 240 companies, which are under heavy debt mostly in steel, construction, power, textiles and infrastructure, a study said.   The study, jointly conducted by Associated Chambers of Commerce and Industry...

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Moneylife Digital Team 30 June 2016
The Ujwal Discom Assurance Yojana (UDAY) launched by the union government is unlikely to have a destabilising effect on fiscal consolidation at an aggregate level, says India Ratings and Research (Ind-Ra). However, some of the states, that have joined the scheme and a few, which have been...

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India Inc on Wednesday said the country's real estate sector is expected to receive a major boost due to the implementation of the 7th Pay Commission recommendations.   "The 7th Pay Commission implementation will be a positive move and raise the affordability of the government...

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Vimal Punmiya 29 June 2016
Keen to unearth black money, the Indian government has unveiled a new scheme for domestic taxpayers in a limited period compliance window to declare their undisclosed income whether in the form of investment in assets in India or otherwise, and clear up their past tax transgressions. Such...

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Moneylife Digital Team 29 June 2016
The Financial Stability Report released by the Reserve Bank of India (RBI), while indicating two positive trends also wans of increased stress in the system, says a research report.   In the note, Religare Capital Markets Ltd says, over the past six months there are two positive...

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Moneylife Digital Team 29 June 2016
While talking about aiming to make payment systems cashless through four strategic measures, the Reserve Bank of India (RBI)'s vision 2018 documents falls short of making uniform the consumer charges as well as convenience charges levied by banks and merchants for similar services....

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Turkish Prime Minister Binali Yildirim on Wednesday blamed the Islamic State (IS) for the bombing attacks that killed 36 people and injured 60 others at Istanbul's Ataturk Airport on Tuesday night, the media reported.   Addressing the press at the airport, the premier said the attacks...

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Amit Dasgupta (IANS) 29 June 2016
British Prime Minister David Cameron's exit speech, with his quivering lower lip, won praise from some in the social media. Very quickly, however, sentiments changed with the recognition that it was his disastrous decision, coupled with bad timing and strategic misreading of sentiment, that...

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Moneylife Digital Team 28 June 2016
After September 2016, there would be a new Governor at the Reserve Bank of India (RBI) following the decision of incumbent Dr Raghuram Rajan to not to continue after his terms gets over. In this scenario, there are four indicators to watch for after the new Governor joins. This includes,...

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Moneylife Digital Team 28 June 2016
As expected, the Monsoon is off to a slow start. So far, in June, cumulative rainfall stood at 16% below normal, but there is a forecast to improve in coming months. Indeed, in four of the last seven years rains improved in Jul-Sep after a weak start in June 2009, 2010, 2012, 2014. Therefore,...

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Privately owned pan-African telecom group Liquid Telecom has entered into an agreement to acquire South African network operator Neotel, owned by Tata Communications and Nexus Connexion, for South African Rand 6.55 billion (Rs 29 billion), a company statement said on...

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Sahana Ghosh (IANS) 28 June 2016
Climate change and vicious river bank erosion in the post-Farakka Barrage period have blurred the lines between the rich and the poor and are pushing successive generations to grinding poverty along the lower stretches of the mighty Ganga in West Bengal.   The frequent nature of...

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Of 11 states ravaged by drought in 2016, seven - Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Maharashtra and Telangana - had less than average water in their reservoirs in June.   Levels in dam reservoirs were no more than 10 per cent of capacity for four of the 11...

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Sunil Mahajan 28 June 2016
Human beings take a sanguine view of the long-term future, believing that life will take care of itself. It is the immediate future that bothers us more. In his famous book, Thinking Fast and Slow, Daniel Kahneman documents the human tendency to emphasize the ‘peak-end’ experience rather than...

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