ECONOMY & NATION


IANS 28 December 2016
In a surprise development, Ratan Tata, the Interim Chairman of Tata Sons on Wednesday arrived here to meet RSS chief Mohan Bhagwat.   Details of the closed-door private Tata-Bhagwat meeting at the Rashtriya Swayamsevak Sangh headquarters here, were not immediately...

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Moneylife Digital Team 28 December 2016
The sweeping move by Prime Minister Narendra Modi in banning Rs500 and Rs1000 notes will surely have a lasting impact on one sector in India and that is real estate where we may see the birth of a new order, says a research note. In the report, Pankaj Kapoor, Founder and Managing Director of...

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IANS 28 December 2016
As digital payments go up post-demonetisation, the country needs separate digital payment laws and digital payment courts should be established across India along with an appropriate legal framework, the CMAI Association of India (CMAI) said on Wednesday.   "All cases of money lost in...

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IANS 28 December 2016
An ordinance was approved by the cabinet on Wednesday to term as illegal the possession of demonetised Rs 500 and Rs 1,000 notes beyond March 31, 2017, and hold as criminal offence people contravening its provisions.   The ordinance, approved by the cabinet meeting chaired by Prime...

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IANS 28 December 2016
The Enforcement Directorate on Wednesday morning arrested a manager of the Kotak Mahindra Bank for his alleged links with hawala trader Parasmal Lodha and Delhi-based lawyer Rohit Tandon.   Sources in the ED said that branch manager Ashish Kumar was arrested for allegedly converting...

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Rajnish Singh (IANS) 28 December 2016
Pakistan-sponsored terrorism and the Islamic State trying to weave its terror network in India kept the National Investigation Agency (NIA) busy throughout 2016.   The year began with one of the most audacious terror attacks on India when four Pakistani terrorists stormed the India...

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Moneylife Digital Team 28 December 2016
The All India Bank Employees Association (AIBEA) and All India Bank Officers' Association (AIBOA) have demanded an enquiry by the Central Bureau of Investigation (CBI) into the incidents of seizures of large amounts of new currency notes and its source of the leakage of this money. The bank...

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IANS 28 December 2016
Companies which are not listed on the stock exchanges as well as municipal corporations and other urban local bodies can make use of prepaid payment instruments (e.g. prepaid cards) to pay their staff, employees or contract workers, the RBI (Reserve Bank of India) said on...

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IANS 27 December 2016
Tata Sons on Tuesday served a legal notice on ousted chairman Cyrus P. Mistry for breach of confidentiality and misconduct.   "By passing on confidential and sensitive information accessed by you in your capacity as a Director of Tata Sons to companies owned and controlled by your...

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IANS 27 December 2016
A major mishap was averted here at the Indira Gandhi International (IGI) airport on Tuesday after an Indigo and a SpiceJet aircraft came face-to-face on the runway.   "An Indigo flight 6C-729 which was coming from Lucknow to Delhi with 176 passengers on board, post landing on the taxi...

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IANS 27 December 2016
The Enforcement Directorate has detected over Rs 104 crore in an account linked to Bahujan Samaj Party (BSP) and around Rs 1.5 crore in the account of party chief Mayawati's brother in a United Bank of India (UBI) branch here, agency sources said on Monday.   Agency officials, on...

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Moneylife Digital Team 26 December 2016
Market regulator Securities and Exchange Board of India (SEBI) has advised victims of multi-level marketing (MLM) QNet and its franchisee Vihaan Direct Selling India Pvt Ltd to the Economic Offences Wing (EOW) of Police having jurisdiction.    SEBI said its Bengaluru local office is...

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Moneylife Digital Team 26 December 2016
The yearly State Bank of India (SBI) Composite Index, an indicator for tracking India’s manufacturing activity, has crashed to an all-time low in December 2016 of 45.5 (moderate decline), compared to last month’s revised index of 50 (low growth). According to the researchers at SBI, the Index...

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IANS 26 December 2016
An auditors body on Monday sought independent powers of investigation for Parliament's Public Accounts Committee (PAC), and demanded that banks, other financial institutions and PPP projects be brought under the purview of India's official auditor.   "The Institute of Public Auditors...

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IANS 26 December 2016
Though mobile data plans in India are among the cheapest in the world and average retail price of smartphones is steadily declining, yet nearly 950 million Indians do not have an Internet connection, according to a joint study done by Assocham-Deloitte.   "Internet penetration is...

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IANS 26 December 2016
India on Monday successfully test-fired its indigenously developed intercontinental surface-to-surface nuclear-capable ballistic missile Agni-V from the Abdul Kalam Island off the Odisha coast in Balasore district.   This is the fourth and final test of the missile, developed and...

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IANS 26 December 2016
Finance Minister Arun Jaitley on Monday said that India now needs to move to a lower level of taxation to be globally competitive.   "What you need is lower level of taxation, to provide services more competitive in nature. Competition is not domestic, it is global. This is one...

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IANS 24 December 2016
The central government on Friday directed Amul -a dairy cooperative operated by Gujarat Cooperative Milk Marketing Federation - to ensure bank accounts for all milk producers by December 30 due to "non-availability of funds (cash) to the co-operative banks for making payments".   It...

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IANS 24 December 2016
A high-profile booze party at a farmhous outside this Gujarat city was busted late on Thursday and over 250 top figures, including former chairman of Indian Premier League (IPL) and leading industrialist Chirayu Amin, booked, police said.   "We have recovered 103 bottles of Indian...

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IANS 24 December 2016
Various airlines on Friday said passengers will not be permitted to carry power banks and e-cigarettes in their check-in baggage for safety purposes.   "We are trying to educate passengers on the new regulation that power banks and e-cigarettes are not allowed to be stored in the...

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