ECONOMY & NATION


New Delhi : Taking up some long-pending issues in the oil and gas space, India on Thursday approved a new policy for their exploration, while also defining the norms for pricing of existing and new discoveries made in difficult areas.   Briefing reporters on the decisions taken at a...

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Government would do well to promote development banks to fund infrastructure projects and relieve public sector banks as experience amply demonstrated that PSBs are not cut for that job of funding long-term projects with short term resources   Recently, Gyan Sangam (Intellectual...

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New Delhi : Hydrocarbons discovered and produced from difficult areas will now get a new pricing norm to encourage production and unlock Rs.180,000 crore worth of reserves that are stuck due to want of incentives, Petroleum Minister Dharmendra Pradhan said on Thursday.   Briefing...

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Vivek Singh Chauhan (IANS) 10 March 2016
New Delhi : The surge in foreign patients seeking Indian health facilities for specialised and cost-effective medical care has resulted in the mushrooming of online start-ups that help foreign nationals find the best treatment in the country.   One such medical tourism start-up,...

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Chennai : India's central bank, the RBI on Wednesday said that the restrictions placed on the purchase of Kotak Mahindra Bank Ltd's shares are withdrawn immediately.   The Reserve Bank of India (RBI), in a statement, said the aggregate share holdings by global depository receipts...

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New Delhi : Over 90 percent of the total foreign direct investment (FDI) received during the first nine months (April-December) of this fiscal came through the automatic route, parliament was informed on Wednesday.   "FDI equity inflow received through automatic route and approval...

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Chennai : Global credit rating agency Fitch Ratings on Thursday said a consolidated Indian banking structure would be a positive development in the long term.   "We believe that consolidation coupled with higher capital requirements and governance reforms would position the banking...

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New Delhi : India was the top recipient of remittances in 2015, the government said on Wednesday citing the World Bank.   “According to the World Bank Migration and Remittances Factbook, 2016, India is the top recipient of remittances in the world for the year 2015,” Minister of State...

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Moneylife Digital Team 09 March 2016
SEBI asked 10 companies, and their promoters and directors to refund the money with 15% interest to investors and also refrain from accessing the securities market for four years   Market regulator Securities and Exchange Board of India (SEBI) has asked 10 Ponzi companies, including,...

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Mumbai : With the acquisition of Pivavav Defende formally in its fold, Anil Ambani-led Reliance Group is eyeing a sizeable share in the potential, $60-billion pie of the Indian and overseas defence-related market where it now has a presence, sources said.   Towards this, the...

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TruthInAdvertising.org 09 March 2016
Don’t file with fraudsters this tax season   You may hate to do your taxes, but some scammers eagerly await the season. And as we approach Tax Day this year, the US Internal Revenue Service (IRS) is warning of identity theft scams where fraudsters trick taxpayers into providing...

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New Delhi : Non-performing assets (NPAs), or bad loans, of public sector banks (PSBs) have increased by close to Rs.1 lakh crore in the first nine months of the current fiscal, parliament was informed on Tuesday.   "The gross non-performing assets (NPAs) of the PSBs increased from...

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New Delhi : The CBI on Tuesday registered a case against five Syndicate Bank officials, a CA, three private people and others on charges of causing a loss of Rs.1,000 crore to the bank by discounting of fake cheques and bills against fake insurance policies and overdraft limits against...

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New Delhi : With women accounting for 99 percent of microfinance borrowers in India, a major change occurring in the financial system is the greater responsiveness of formal banking sector to articulated needs of the population, the government said on Tuesday.   "The culture is...

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Mumbai/Hyderabad : Making a new beginning, Telangana and Maharashtra governments on Tuesday signed a historic agreement on construction of inter-state irrigation projects.   The agreement will facilitate construction of five barrages on Godavari river and its tributaries Penganga and...

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New Delhi : Cutting across party lines, women members in the Rajya Sabha on Tuesday stressed the need to get passed the bill providing for 33 percent reservation to women in legislature.   "I am very happy that the Rajya Sabha passed the legislation. I hope the bill will be passed...

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Vinod Kothari  and   Abhirup Ghosh 08 March 2016
Asset aggregation is a fee-based business without movement of money. How can a purely fee-based activity be classified as an NBFC, requiring registration with the Reserve Bank?   The activity of asset aggregation (AA) is a fee-based business and does not involve any movement of money...

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New Delhi : A major change taking place in India's financial system is the greater responsiveness of the formal banking sector to the articulated needs of the population, the government said on Tuesday.   "The culture is changing in India and th ere is a greater responsiveness to the...

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Moneylife Digital Team 08 March 2016
After an uproar and backlash from taxpayers, especially EPF subscribers, Finance Minister Arun Jaitley decided to roll back his proposed EPF tax   After facing opposition from taxpayers, the Indian government on Tuesday announced withdrawal of its controversial proposal to levy tax on...

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London : If you are bogged down by notifications sent by the known but deceased people in your timeline on Facebook, do not get surprised by this news. According to researchers, the social networking giant will become the world's biggest virtual graveyard by the end of this century as there...

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