ECONOMY & NATION


Moneylife Digital Team 22 March 2016
According to a police report, Basantani has fled the country four years ago to Dubai. However, a person familiar with the matter says Basantani was present in the country till January this year   Rajkumar Basantani of Soundcraft Industries, Adam Comsoft and Kolar Biotech has...

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San Francisco : Apple CEO Tim Cook, referring to the ongoing battle with the US government over encryption to unlock an iPhone used by an attacker in a mass shooting in San Bernadino last year, on Monday reiterated the company's commitment to protect its users' data and...

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Mumbai : The Enforcement Directorate (ED) on Monday attached a sugar mill and 290 acres of land in Nashik worth Rs.55 crore in connection with the money laundering cases filed against NCP leader Chhagan Bhujbal, his family and others, official sources said here.   The provisional...

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New Delhi : The central government on Monday asked the Delhi High Court to vacate the interim stay on ban on some fixed dose combinations (FDC) medicines sold by pharma majors saying they "endanger patient safety".   Defending its decision to ban 344 FDC medicines through its March 10...

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Mumbai : India's current account deficit (CAD) dropped to $7.1 billion or 1.3 per cent of GDP in the third quarter of 2015-16 on account of narrowing trade deficit, Reserve Bank of India (RBI) said on Monday.   "India's current account deficit (CAD) at $7.1 billion or, 1.3 percent of...

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New Delhi : A Central Board of Direct Taxes (CBDT) committee on taxation of e-commerce has suggested an "Equalisation Levy" of between 6-8 percent for business-to-business digital transactions, as per its report made public on Monday.   The committee had already submitted, in...

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Mumbai : IDBI Bank employees' unions have called a four-day countrywide strike from March 28 to oppose the government's move to dilute its stake in the bank announced by Finance Minister Arun Jaitley while presenting budget 2016-17 last month.   Employees and officers belonging to the...

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Are banks only eager to show data that pleases the Finance Minister and the Prime Minister?   The Reserve Bank of India recently released the Basic Statistical Return (BSR) statistics for 2014-15. This, read with the Trend and Progress of Banking, reveals some interesting results....

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Moneylife Digital Team 21 March 2016
Bank credit to domestic export sector has suffered due to fall in external demand as is visible in major export sectors like textile, gems and jewellery leading to contraction in demand of credit   The yearly State Bank of India (SBI) Composite Index for March 2016 has declined below...

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Moneylife Digital Team 21 March 2016
The government seems to have a tough battle on its hands as IDBI employees have ganged up to protect their salaries and perks and are even ready to take the help Lalu Prasad Yadav, a politician convicted of fodder scam    Employees and officers of IDBI Bank are making full...

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New Delhi : Prime Minister Narendra Modi is set to meet senior officials of all banks and insurance companies in Mumbai on Tuesday to discuss the implementation of the government's crop insurance scheme, an official source said on Monday.   The finance ministry source said Finance...

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Mumbai : The Maharashtra assembly was thrown into turmoil on Monday over state Advocate General Shrihari Aney's demand for a separate state of Marathwada, with the ruling BJP's ally Shiv Sena as well as the opposition seeking action against him.   Amid the ruckus, slogan-shouting and...

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Hong Kong : Even as it promotes Hong Kong as the gateway for Indian companies to the Chinese markets, the Hong Kong Trade Development Council (HKTDC) is promoting India as an alternative manufacturing base for its industries based in China, states a research report.   "In recent...

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Mumbai : The Foreign Investment Promotion Board has granted approval to Japan's Nippon Life Insurance to increase its stake in Anil Ambani-led Reliance Life Insurance (RLI) to 49 percent, which will peg the valuation of the Indian company at $1.5 billion.   Nippon Life will be...

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Kathmandu : Stung by the bitter lessons from Madhesi blockade of India trade points that caused acute fuel shortage, Nepal on Monday signed a transit and transportation treaty with China for its third-country commerce -- a move that is likely to end New Delhi's monopoly over the landlocked...

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After ties were strained with India following Oli assuming the office, Nepal looked towards its northern neighbour, aiming to import at least one-third of the total petroleum needs of the Himalayan country from China   Nepal will not sign a petroleum agreement with China during the...

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Sunday's reverse e-auction for stranded gas-based plants SGPs is the third phase of auctions conducted   The government on Sunday announced revival of 9 stranded gas-based power plants with total installed capacity of 5,942 MW, which successfully bid electricity at Rs.4.70 per unit...

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Around 55 million consumers purchased online in 2015 and the number is expected to grow to 80 million this year with better logistics, broadband and Internet-ready devices, it said   Average online purchases in India are expected to increase by 78% this year on the back of attractive...

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New Delhi : Prime Minister Narendra Modi on Saturday called for raising farm incomes through diversification in farming activities and urged all stakeholders, including states, to take a resolve to double income of farmers by 2022.   Addressing farmers at Krishi Unnati Mela here, he...

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New York : If you thought you will be able to convey more to your friends and policymakers on Twitter soon, hold on. According to the micro-blogging site, there is still time for you to tweet in 10,000 characters and its original 140-character limit is here to stay.   Appearing on a...

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