ECONOMY & NATION


Moneylife Digital Team 16 May 2016
India's wholesale price index (WPI)-based inflation rose 0.3% in April from 0.9% a month ago, returning to a positive territory after remaining in deflation for 17 months. However, Nomura feels that owing to rising costs amid still-subdued domestic demand, profit margins could come under...

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In a recent "Mann Ki Baat" address, Prime Minister Narendra Modi stressed that every government should focus on quality learning and outcomes rather than the school enrolment.   His concerns, expressed on April 24, 2016, are not unfounded.   As many as 62% of children in India...

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Bandhan Bank reported a net profit of over Rs.275 crore over seven months and seven days of the fiscal 2015-16.   During the period under review, the Kolkata-based bank -- which started operations in August 2015 -- posted a total income of Rs.1,082 crore. Its net interest income (NII)...

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India's manufacturing sector growth may slow down during the first quarter of 2016-17 ending June owing to factors like bleak export outlook, poor demand and high cost of borrowing, industry chamber Ficci said on Sunday on the basis of its latest survey.   "The survey had earlier...

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India's annual wholesale price inflation (WPI) moved up into the positive zone at 0.34% for April, from (-)0.85% in March and (-)2.43% during the corresponding month of the previous year, official data showed on Monday.   The WPI moved up after staying in negative zone for 17 straight...

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Moneylife Digital Team 16 May 2016
An explosive set of documents perused by Moneylife have revealed how QNet, the controversial, Hong Kong-based multilevel marketing (MLM) has been caught by the Directorate of Revenue Intelligence (DRI) for falsifying while importing products, but gets away by settling claims. These tactics,...

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Moneylife Digital Team 13 May 2016
The Reserve Bank of India (RBI) is planning to put in place risk recognition measures that could lead to banks charging higher interest rates on borrowings beyond permissible limits. This, the central bank feels will limit the banking sector’s exposure to highly leveraged corporates. However,...

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India has unveiled a new National Intellectual Property Rights Policy to safeguard commercial interests arising from creativity -- like music, books, industrial drawings, software and even drugs and pharmaceuticals.   The country, in the process, also wants to meet global obligation...

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NGO Swaraj Abhiyan on Thursday accused the Raman Singh government in Chhattisgarh of inviting a "fraudulent" tender and paying a hefty commission of $1.57 million on the purchase of one AgustaWestland chopper in 2007.   A court-monitored investigation be conducted to probe the deal...

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Moneylife Digital Team 13 May 2016
The Supreme Court on Thursday asked private carrier Spicejet to pay Rs10 lakh as damages to a disabled passenger suffering from cerebral palsy, who was offloaded by the carrier in 2012.    While allowing the petition of Jeeja Ghosh, a bench of Justices AK Sikri and RK Agrawal, said a...

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Advance tax refers to the part of your taxes which is supposed to be paid before the end of the financial year. Advance tax is payable if your tax liability is more than Rs10,000 in a financial year. It should be paid in the financial year in which the income is received. The idea of advance...

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India's factory output growth turned flat in March after rising during the month before, even as the annual retail inflation for April rose to 5.39 percent from 4.83 percent in March, official data showed on Thursday.   The factory output for February, based on the index of industrial...

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Moneylife Digital Team 12 May 2016
Both Houses of the Indian Parliament have passed the long-awaited Insolvency and Bankruptcy Code 2016. The Code sets out a legal framework for resolving insolvency of companies and individuals. This should make it easier for ailing companies to exit operations and for creditors to recover...

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Can infrastructure be sustainably built in a developing economy? As India undergoes a developmental period, this question assumes importance.   Infrastructure growth is likely in railways, roads, airports, smart cities, large industrial units, super technological communication systems...

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The demand for gold in India for the January-March quarter of 2016 was at 116.5 tonnes, down by 39% as compared to the corresponding period of the previous year, the World Gold Council said on Thursday.   The overall demand for gold in India was 191.7 tonnes in the first quarter of...

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Moneylife Digital Team 12 May 2016
ICICI Bank reported its worst numbers in a decade; its net profits sank 87%, to Rs407 crore  in Q4FY15-16, due to a spike in provisioning for bad loans. The Street was disappointed with Axis Bank’s results as its quarterly net profit declined for the first time in 11 years. Its net profits fell,...

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Cezary Podkul (ProPublica) 12 May 2016
German prosecutors have expanded an ongoing investigation of international tax-avoidance deals to cover questionable trades exposed last week by ProPublica and other media partners. Handelsblatt, which collaborated on the report along with German public broadcaster ARD, reported that...

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Moneylife Digital Team 11 May 2016
Foreign investment inflows to India shot up to US$6.2bn in March 2016 from just US$0.7bn in the preceding month, as per the RBI’s monthly bulletin for May 2016, notes Religare. This was entirely driven by FIIs, who pumped in US$4.4bn after withdrawing money in each of the last four months....

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Moneylife Digital Team 11 May 2016
Reliance Jio (RJIO), the Mukesh Ambani group company, is all set to launch its fourth generation (4G) network with its employees referring the services to 10 people for testing. Edelweiss says it availed RJio's employee referral offer for testing. "First impression is positive owing sound...

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From Bombay to Goa and Chennai, the noose is finally tightening around QNet, the global Ponzi scheme that has been allowed to raise several thousand crores of rupees for 16 years (upward of Rs8,000 crore, according to estimates) from gullible people, luring them with fake promises of high...

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