ECONOMY & NATION


Traders with Provisional Identity for Registration (PID) under the Goods and Services Tax (GST) system should submit the required documents by September 22 to get certificates of registration, the Finance Ministry said on Saturday.   "Persons who have PID may submit the required...

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The Enforcement Directorate (ED) conducted raids at three different places owned by RJD chief Lalu Prasad's daughter Misa Bharti in connection with an over Rs 1,000-crore benami (proxy) land deals case.   "We have conducted raids at three places including Sainik Farms and Bijwasan...

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RP-Sanjiv Goenka Group company, Firstsource Solutions (FSL) on Friday said it has signed "definitive agreements" to sell a portion of its India domestic business to Vertex Customer Management India Pvt Ltd.   Closure of this sale was subject to approvals, the company said, without...

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Executive Chairman of Mahindra Group Anand Mahindra and MD and CEO of Tech Mahindra C.P. Gurnani on Friday expressed regret over the manner in which an employee of the IT major was asked to quit.   "I want to add my personal apology. Our core value is to preserve the dignity of the...

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The Confederation of All India Traders (CAIT) on Friday urged the government to form a Goods and Services Tax (GST) Coordination Committee at the district level, comprising senior officials and representatives of trade to facilitate smaller traders.   According to the traders'...

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The CBI on Friday raided the house of former Indian Railways Catering and Tourism Corporation (IRCTC) Managing Director P.K. Goyal here, conducted searches, and took him along for further questioning, an official said.   Informed sources said that during the search at Goyal's upscale...

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The Supreme Court on Friday ordered a halt to further counselling and admissions to IITs in respect of entrance tests under JEE-Advanced across the country.   "No counselling or admission to the seats in ITT JEE-Advanced shall take place until further orders," said the bench of...

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Chandraprabha Venkatagiri 07 July 2017
“Ignorant students often rate teachers based on personality and not on performance,” says a professor who teaches Organisational Behaviour in a reputed business school in Jayanagar, Bengaluru. Matters have become complicated due to the fact that senior teachers are refusing to retire as they...

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Fertiliser cooperative Indian Farmers Fertilizer Co-operative (IFFCO) on Friday said it will divest 21.64 per cent stake in its insurance joint venture IFFCO Tokio General Insurance Company Ltd to its Japanese partner Tokio Marine Asia Pte Ltd for Rs 2,380.40 crore.   Along with...

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Moneylife Digital Team 07 July 2017
Moneylife Foundation's persistent battle for bank customers is beginning to bear fruit. The Reserve Bank of India (RBI) has issued a circular to reduce liability of customers in an unauthorised electronic banking transaction. The circular also asks banks to put in place a mechanism to record...

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In a further move to tackle the huge issue of banks' bad loans in India, the Insolvency and Bankruptcy Board on Thursday invited public comments on the amended Insolvency and Bankruptcy Code that came into effect last year.   A Corporate Affairs Ministry release said the window for...

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National passenger carrier Air India on Thursday said that it has initiated an inquiry to verify allegation about theft of paintings from its vast collection.   "As regards the painting mentioned... the matter is being inquired into and details should also be available shortly," the...

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The CBI on Friday carried out raids at the residences of RJD chief Lalu Prasad and his family members in connection with a new case of alleged irregularities in awarding the tender for the maintenance of hotels.   According to a Central Bureau of Investigation official here, the raids...

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The Supreme Court on Thursday gave the central government six months time to demonstrate the gains of Pradhan Mantri Fasal Bima Yojana on the ground level as it observed that a serious issue like this could not be dealt with overnight.   The bench of Chief Justice Jagdish Singh Khehar...

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Abhirup Ghosh 06 July 2017
One of the major highlights of the Budget 2017 was the introduction of section 269ST of the Income Tax Act, 1961. The section was introduced with an intention to curb black money by reducing the scope of large ticket size cash transactions in the economy. As per the provisions of the section,...

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Chandraprabha Venkatagiri 06 July 2017
A recent announcement by the All India Council for Technical Education (AICTE) indicated that close to 29 business schools had applied for closure in Mumbai. In business schools located in Navi Mumbai and Vashi area, the number of students had dwindled to such an extent that faculty members...

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Moneylife Digital Team 05 July 2017
The Indian government has announced goods and services tax (GST)-related rules for maximum retail price (MRP). While companies can continue to use old packaging material till 30 September 2017, the rule requires manufacturers to affix stickers showing the new MRP too. For products where the...

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Ravi Nair 05 July 2017
Last month, I have tweeted a thread in which I tried to find out the origin of a few of the Yojanas (schemes) from a huge list that Prime Minister Narendra Modi had announced since assuming office a little more than three years ago. Since then, I am flooded with tweets from supporters of...

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A court here has initiated process against industrialists Cyrus P. Mistry, Shapoor Mistry and others in a Rs 500 crore criminal defamation complaint lodged last month by Tata Trusts' Managing Trustee R. Venkataramanan, an official said on Tuesday.   The process was initiated by...

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Moneylife Digital Team 04 July 2017
Thousands of people on Tuesday joined the unique #TweetMorcha against arbitrary bank charges with the hashtag #BankSeBachao trending at top spot in India and also featuring in worldwide trends in the afternoon. People from across the globe sent tweets to @NarendraModi and @ArunJaitley with...

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