ECONOMY & NATION


MDT/PTI 07 December 2012
Citing steep moderation in growth and expressing optimism that inflation will cool off from the next quarter, the RBI governor said the central bank would take into account the growth-inflation trajectory and calibrate monetary policy accordingly Kolkata: Reserve Bank of India (RBI)...

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Stephen Rosling 06 December 2012
I recently did a word count on a new product offered by a well-known bank—the total word count was over 40,000!  Now some customers would choose to read this material before they sign. However, I would suggest that 99.9% would simply sign without reading. Is this fair?   It’s fair to...

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MDT/PTI 05 December 2012
With SP and BSP members staging a walk out, passing the motion for FDI in retail was a piece of cake for the UPA government The United Progressive Alliance (UPA) government on Wednesday survived the attack from Opposition over foreign direct investment (FDI) in retail. The motion brought...

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Moneylife Digital Team 05 December 2012
REC bonds, offering 7.88% tax-free, are yet to attract retail investors. Either the investors have not warmed up to the first in the series of tax free bonds issues or they don’t find it as attractive as last year Rural Electrification Corporation (REC) has launched its public issue of...

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MDT/PTI 05 December 2012
According to SBI MD Gupta, the bank's decision not to raise interest rates on savings deposits is a purely commercial one and does not amount to cartelisation   Mumbai: The nation's largest lender State Bank of India (SBI) on Wednesday dismissed allegations of cartelisation by big...

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MDT/PTI 05 December 2012
A week after the expiry of deadline that the lenders had set to Kingfisher management to come up with a revival plan, including a $1 billion capital infusion, State Bank of India has said the banks are trying everything to find an amicable solution Mumbai: State Bank of India (SBI), the...

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MDT/PTI 05 December 2012
After the exit from Kurdistan and Yemen, RIL now is left with a portfolio of 10 overseas oil and gas assets including two each in Peru, Yemen, Oman and Colombia and one each in East Timor and Australia New Delhi: Reliance Industries Ltd (RIL) on Wednesday said it has completed sale of...

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MDT/PTI 05 December 2012
In current fiscal, LNG imports will jump to 73 mmscmd and are projected to further rise to 105 mmscmd in 2013-14, equalling the domestic gas production in India   New Delhi: India's import of natural gas will surpass domestic production in two years as output from fields like Reliance...

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We continue to import a lot of rubbish that can be easily made in India and at comparatively competitive prices, employing millions of Indians and using our raw materials Indians woke up from their deep slumber on the morning of 20 October 1962, when Zhou En Lai, the then premier of...

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Moneylife Digital Team 05 December 2012
Unlike its earlier order that imposed severe time restrictions on Sahara, the apex court today gave the Subrata Roy-led Sahara Group time till February to repay Rs24,000 crore it had raised from investors through bond sales plus an interest of 15% on the amount. This order is quite different...

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MDT/PTI 05 December 2012
The High Court said, RIL should be given a fair chance to be heard in the matter as the disclosures pertain to the company   Mumbai: The Bombay High Court has asked market regulator Securities and Exchange Board of India (SEBI) to make Reliance Industries Ltd (RIL) a party to its...

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MDT/PTI 05 December 2012
GlaxoSmithKline would buy 31.8% additional stake in its unit GlaxoSmithKline Consumer Healthcare for Rs3,900 per share Mumbai: UK-based GlaxoSmithKline Plc's open offer to acquire 31.8% stake in its Indian subsidiary GlaxoSmithKline Consumer Healthcare Ltd will begin on 17th January...

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MDT/PTI 05 December 2012
RBI said as many as 926 computerised branches of public and private sector banks will receive advance income tax in Mumbai and Navi Mumbai for the December quarter Mumbai: To avoid long queues in front of the central bank counters, arrangements have been made at the Reserve Bank of India...

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MDT/PTI 05 December 2012
The transaction is the single largest Exim Bank has ever authorised for RIL and it includes extending a $1.06 billion direct loan and similar amount to guarantee JPMorgan Chase loan to Reliance's Jamnagar facility   Washington: The Export-Import Bank of the United States (Exim Bank)...

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Moneylife Digital Team 04 December 2012
Arvind Kejriwal alleged that in Gujarat elections, Modi and Congress 'appear' to be politically pitched against each other but documents reveal that behind the curtains, they are happy doing business with each other and with same set of people   Arvind Kejriwal, the IRS officer-turned...

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MDT/PTI 04 December 2012
Sushma Swaraj maintained that the concept of large supermarkets has failed in Western economies and wondered how the government was claiming it would create jobs in India   New Delhi: Slamming the United Progressive Alliance (UPA) government for allowing foreign direct investment...

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Moneylife Digital Team 04 December 2012
Mutual Fund managers have a positive outlook towards equity market in the short-term and expect earnings growth to improve next year   Even though half the mutual fund mangers feel that the equity markets are undervalued and the remaining feel that the market is fairly valued, more...

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MDT/PTI 04 December 2012
Canada gave its final clearance to the project under which ArcelorMittal-led consortium will begin construction of the new iron-mine close to Arctic   Toronto: Facing hurdles in France, Luxembourg-based ArcelorMittal on Tuesday got green light from Canada for its multi-billion dollar...

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MDT/PTI 04 December 2012
The Election Commission also expressed concern over the announcement and expected the union government to avoid doing so during the operation of model code of conduct New Delhi: Voicing concern over announcement of direct cash transfer scheme during the operation of Model Code of...

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If you receive any cheques which are non-CTS compliant, you should encash them before 31 December 2012. If they are post-dated and payable after 1 January 2013, you may get these exchanged with new CTS 2010 cheques as the old cheques will not be cleared thereafter Of late you would have...

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