ECONOMY & NATION


IANS 23 August 2017
The government is not considering banning Rs 2,000 notes while the Reserve Bank of India (RBI) will decide when to issue the new Rs 200 note that has been notified, Finance Minister Arun Jaitley said on Wednesday.   Asked whether the government was considering the phasing out of newly...

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IANS 23 August 2017
The Reserve Bank of India (RBI) is considering an 'Ombudsman' scheme for redressal of customer grievances with the non-banking finance companies (NBFCs) even as the central bank is not in favour of the NBFCs taking deposits from public, Deputy Governor N.S. Vishwanathan said on...

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IANS 23 August 2017
Air India chief Ashwani Lohani was on Wednesday named Chairman of the Railway Board to succeed A.K. Mittal, who stepped down in the wake of repeated train accidents.   An official statement here said the Appointments Committee of the Cabinet approved Lohani's...

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IANS 23 August 2017
The government on Wednesday hiked the creamy layer ceiling for the Other Backward Classes to Rs 8 lakh per annum from the existing Rs 6 lakh for central government jobs, Union Finance Minister Arun Jaitley announced.   Those in the OBC category earning upto Rs 8 lakh annually will now...

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IANS 23 August 2017
External Affairs Minister Sushma Swaraj will inaugurate the country's first Videsh Bhavan, assimilating all Regional Passport Offices under one roof, at the Bandra Kurla Complex (BKC) here on Sunday, an official said on Wednesday.   As a first pilot project, four offices of MEA -...

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IANS 23 August 2017
Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Wednesday said that the tax exchange agreements with other countries was resulting in information pouring in at a fast pace, thus there was no escaping for the multi-national companies (MNCs) from fair taxation.   "We...

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IANS 23 August 2017
The Finance Ministry of Wednesday formally announced the launch of the new Rs200 note. "The central government hereby specifies the denomination of bank notes of the value of 200 rupees," a Gazette notification said.    The notification has been issued under Section 24 of the...

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Moneylife Digital Team 23 August 2017
Updated to add response from Bank of Baroda.   State-run Bank of Baroda, hit by a huge technical glitch in the process of upgrading its core banking software has asked its customers not to panic.  The bank is resolving the technical issues caused due to migration of customer to a...

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IANS 23 August 2017
At least 74 persons, four in critical condition, were injured when 10 coaches of the Kaifiyat Express derailed in Auraiya district of Uttar Pradesh on Wednesday morning, police said.   The incident took place after the train bound for New Delhi from Azamgarh in Uttar Pradesh hit a...

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Moneylife Digital Team 23 August 2017
Cyrus P Mistry, the ousted Chairman of Tata Group, has raised questions on Tata Motors' practice of lending without risk assessment especially to Nano and small commercial vehicle segment. "This caused a huge non-performing asset (NPA) loss in both Tata Motors and Tata Motor Finance, to the...

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Moneylife Digital Team 22 August 2017
A stock market investor can only do so much of research. Even after the most comprehensive research, he or she still remains an outsider whose fate is determined by what other investors think about the company, and the company’s performance, the combined impact of which get reflected in the...

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Moneylife Digital Team 22 August 2017
Almost 10 lakh bank employees from across India joined the nationwide banking strike, paralysing all financial operations, to demand redressal of various pending demands.   In a statement, CH Venkatachalam, General Secretary of All Indian Bank Employees Association (AIBEA), says,...

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IANS 22 August 2017
The Supreme Court on Tuesday by a majority verdict held the triple talaq practice of instant divorce among the Muslim community as "unconstitutional", "arbitrary" and "not part of Islamic faith". A five-judge constitutional bench by a 3:2 majority judgement said there is no...

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Amit Kapoor (IANS) 22 August 2017
The Indian rupee has been on a rising spree this year. Beginning from historical lows back in December-January, when the rupee had almost touched 69 to a dollar, it has risen to a two-year high of 63.5 in the last few weeks. Simultaneously, there has also been a growing clamour of voices that...

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Moneylife Digital Team 22 August 2017
Cyrus P Mistry, the ousted Chairman of Tata Group, has raised questions on acquisition carried out by Indian Hotels Co Ltd (IHCL), which runs the Taj Group of hotels, over the past 10 years. "...a company may make strategic errors as part of their journey. But when one has a consistent...

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Moneylife Digital Team 22 August 2017
James Wilson, a civil engineer from Kerala, has been unearthing and exposing several false claims made by regulators and the Central government using their own published data. Union minister of state for finance, Santosh Kumar Gangwar, in a written reply, informed the Rajya Sabha that, as on...

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IANS 22 August 2017
Banks will have to pay 3 per cent Integrated Goods and Services Tax (IGST) on imports of gold and silver, which can be claimed as input tax credit, the Central Board of Excise and Customs (CBEC) said on Monday.   "Yes, 3 per cent IGST is payable on all imports of precious metals in...

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IANS 22 August 2017
Stock exchange major BSE on Monday said that it will delist 200 firms from its platform from August 23.   According to the BSE, stocks of 117 companies that have remained suspended for more than 10 years would be "delisted from the platforms of the exchange" with effect from August...

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IANS 22 August 2017
Bowing to the strong religious sentiments of the Jain community, Tata Westside apologised on Monday and withdrew a new clothes line from all stores after complaints.   The development came after diamond trader Dharmesh Jhaveri and others shot off angry emails to Tata Westside, taking...

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Moneylife Digital Team 21 August 2017
Home sales across the top eight cities in India increased by 6% in June quarter. Mumbai Metropolitan Region (MMR) contributed 24% of overall sales, the highest sale the city has seen over past seven years, says a research report.   In the report, Liases Foras Real Estate Rating and...

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