ECONOMY & NATION


PS Deodhar 23 September 2015
During the last three decades, our society has progressively become more money-centric, greedy and selfish. In this new India, the cancerous growth in corruption has given birth to the noveau-riche class. This is the first part of a two part series   The 'Black (money) Rich' is a...

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IANS 22 September 2015
China's central bank pumped 50 billion yuan ($7.85 billion) into the money market via reverse re-purchase agreement (repo) on Tuesday, the first cash injection this week.   The yield for the seven-day reverse repo stood at 2.35 percent, Xinhua news agency quoted the Bank of China's...

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IANS 21 September 2015
South Asia's home healthcare pioneer Portea Medical on Sunday announced raising $37.5 million (Rs.247 crore) from venture funds to expand its reach across India and the region.   Venture capital firm Accel led the second round (series B) of funding, in which International Finance...

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IANS 19 September 2015
In a statement issued jointly with Strides, Sun Pharma said the two have entered into a definitive agreement related to Solus and Solus Care divisions of erstwhile Ranbaxy   Indian drug major Sun Pharmaceutical Industries Ltd will sell its two divisions operating in the central...

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Moneylife Digital Team 18 September 2015
India can be far more successful and far more influential than it is today, mentioned Dr Raghuram Rajan, Governor, Reserve Bank of India (RBI)   India can be far more successful and far more influential than it is today, mentioned Dr Raghuram Rajan, Governor, Reserve Bank of India...

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IANS 18 September 2015
There are expectations that the RBI would reduce interest rates at its next monetary policy review later this month   Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday said inflation should be kept low not only now but also in the future, adding that reforms are needed for...

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IANS 10 September 2015
The growth of domestic passenger cars sales slowed last month, growing at just 6.06 percent from a jump of 17.47 percent during July, industry data showed on Thursday.   According to the data furnished by the Society of Indian Automobile Manufacturers (SIAM), passenger car sale's...

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IANS 09 September 2015
The government on Wednesday approved capital infusion amounting to Rs.800 crore in the Export Import Bank of India (EXIM) in an effort to better promote the country's international trade.   The approval was given by the union cabinet which met here.   According to the cabinet,...

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IANS 08 September 2015
JSW Energy on Tuesday said it has completed the acquisition of 100 percent of the securities of Himachal Baspa Power Company from Jaiprakash Power Ventures for an asset value of Rs.9,275 crore.   The acquisition has given JSW Energy it complete control over the 300 MW Baspa II and...

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IANS 08 September 2015
While the company has been in hot water for some time now, the development is being seen by both insiders and observers outside as a "major blow" to the company, whose chairman Subrata Roy 'Sahara' has been languishing in Tihar jail for more than a year now   The cancellation of...

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IANS 08 September 2015
In a fresh setback to the beleaguered Sahara India Pariwar, the Reserve Bank of India (RBI) has cancelled the license of its holding company Sahara India Financial Corporation Limited (SIFCL), officials said on Tuesday.   The action has been taken by the department of non-banking...

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IANS 08 September 2015
Prime Minister Narendra Modi on Tuesday met union ministers, corporate heads and economists to discuss global markets' turmoil sparked off by the Chinese economic slowdown and attendant opportunities for India.   "The general consensus (at the meeting) was that growth of emerging...

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IANS 07 September 2015
Reliance Defence Ltd (RDL), a subsidiary of the Anil Ambani-led Reliance Infrastructure (RInfra), said on Monday it has signed a MoU with Abu Dhabi Ship Building (ADSB) for construction of naval ships for the Gulf Cooperation Council over the next 10 years.   "Under this MoU, RDL and...

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IANS 07 September 2015
Restaurant search and discovery application Zomato on Monday said it has raised $60 million in a fresh round of funding that is being led by Singapore investment company, Temasek with participation from existing investor Vy Capital.   Zomato will use the investment to further grow its...

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IANS 07 September 2015
To check the menace of fake Indian currency, new notes, especially the Rs.1,000 and Rs.500 denominations, will have 7 new security features and a new numbering system, official sources here said on Sunday.   The Reserve Bank of India subsidiary Bhartiya Note Mudran Pvt Ltd (BRBNMPL)...

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Moneylife Digital Team 04 September 2015
According to Morgan Stanley, India is one of the few EM economies that has already undergone a period of adjustment to improve its macro stability and is making steadfast progress towards improving the growth mix and productivity   India's gross domestic product (GDP) growth is likely...

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Moneylife Digital Team 03 September 2015
RBI's guidelines on base rate computation, if implemented in its current form, would reduce base rates by 50 basis points. It also means a one-time profit hit of Rs20,000 crore for banks in FY2017, says CRISIL   The Reserve Bank of India (RBI)'s draft guidelines on computation of base...

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Sharon Thambala (IANS) 03 September 2015
Known once as 'Timekeeper of the Nation', the state-run behemoth is set to lay off 2,900 of its staff, including 1,091 from its twin-watch units and a bearing factory to turn around its fortunes with 1,600 blue collar workforce   Time is ticking away for thousands employees of the...

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It is nice to see this tax-payer friendly action on the part of the Income Tax Department and let us hope that this may be the harbinger of many more good things to come   Hope you filed your income tax return (ITR) by now. The earlier you file your return, quicker you will get the...

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IANS 01 September 2015
Pointing to investment from companies like Foxconn of Taiwan and Xiaomi of China, Chief Economic Adviser (CEA) Arvind Subramanian on Tuesday said the slowdown in China is a "historic opportunity" to relaunch growth in India.   "China slowdown is a historic opportunity for India as...

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