ECONOMY & NATION


Moneylife Digital Team 11 June 2013
Following the Cobrapost exposé, the central bank investigation found prima facie evidence of KYC violations. It however, did not find any substantial info on money laundering and said, any conclusive inference can be drawn after investigation of the transactions by tax and enforcement...

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Moneylife Digital Team 11 June 2013
Following the Cobrapost exposé, the central bank investigation found prima facie evidence of KYC violations. It however, did not find any substantial info on money laundering and said, any conclusive inference can be drawn after investigation of the transactions by tax and enforcement...

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Cairn India would do well to concentrate its expertise in what it knows best—get the gas and oil from Barmer and other potential areas, and leave the shale gas/oil issue for subsequent development In the past, exploration in mining lease areas was restricted, but now, based on the advice...

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Moneylife Digital Team 11 June 2013
Total sales of vehicles across categories registered a decline of 0.93% to 14,98,909 units in May 2013 against 15,12,986 units in the same month of 2012, according to the data released by the Society of Indian Automobile Manufacturers Domestic passenger car sales declined 12.26% to...

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Moneylife Digital Team 10 June 2013
Despite the weaker demand scenario, India turned to a net importer of steel (net imports: 161 kilo tonnes) in May, from net exporter (net exports: 105 kilo tonnes) in April   As per the Joint Plant Committee (JPC), India steel demand contracted by 4.4% y-o-y in May, remaining weak....

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Moneylife Digital Team 10 June 2013
The penalty follows scrutiny carried out by RBI of books of accounts, internal control, compliance systems and processes of these three banks at their corporate offices and some branches during March/April 2013   The Reserve Bank of India (RBI) today imposed a fine of Rs5 crore on...

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Moneylife Digital Team 10 June 2013
The deal is positive for both RCom and RIL. RCom can utilize and monetize its extensive network reach. And importantly, it can deliver its balance sheet further (total debt: $7 billion), says Nomura Equity Research Reliance Communications (RCom) and Reliance Industries (RIL) announced a...

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Moneylife Digital Team 10 June 2013
The rise is due to a seasonal rise in imports, a surge in gold imports and sluggish exports, the brokerage firm said India is scheduled to release its May trade data this week. Brokerage firm Nomura expects a record-high trade deficit of $21 billion in May from $17.8 billion in April....

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Mr Murthy and his protégé Nandan Nilekani have always been clever about managing their image. Consider this anecdote of 2005, just two years after the Narayana Murthy Committee had submitted its report to the Securities & Exchange Board of India NR Narayana Murthy’s return as executive...

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Moneylife Digital Team 10 June 2013
The all-women bank, proposed in the Budget, would be wholly-owned by the government and is expected to start operations from November 2013 through six branches in different parts of the country The finance ministry will soon approach the Cabinet for approval to set up India’s first

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We have always talked of “single-window clearance” for decades now.  This is yet to materialize, but in the meantime, to confuse and compound the issue, the Department of Industrial Policy and Production (DIPP) has stated that a multi-brand entity cannot engage in any other form of...

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From the very beginning, Infosys set standards and created benchmarks in transparency, good governance and accountability.  But when circumstances changed, this pretty picture began to get dented bit by bit, starting with TV Mohandas Pai’s stormy exit around the time that NRN hung up his...

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Who checks the quality of technology or data-matching algorithms used by CIBIL or the other credit bureaus? What is the redress process, when it fails? At Moneylife’s ‘Open House’ with RBI deputy governor Dr KC Chakrabarty on 3rd June, an angry customer stood up to complain about Credit...

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Moneylife Digital Team 10 June 2013
The senior BJP leader has resigned from the party’s national executive, parliamentary board and election committee of the BJP, a day after Gujarat chief minister Narendra Modi was appointed as chairman of the election campaign committee   The rift in BJP was on Monday wide open with LK...

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Moneylife Digital Team 10 June 2013
The rupee has been falling for five straight weeks, taking its losses since the start of May to 5.71%, to make it among the worst performing currencies in Asia during this period The rupee breached its all-time low of 57.32 against dollar in early trade today. It traded at 57.52 against...

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Moneylife Digital Team 08 June 2013
The high-powered committee headed by SBI managing director S Vishwanathan would submit its report by July-August, and later based on the report the merger process could start by September, SBI chairman Pratip Chaudhuri told reporters State Bank of India on Friday said the proposed merger...

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Moneylife Digital Team 08 June 2013
Ever since the airline clinched a stake sale deal with the Abu Dhabi-based Etihad Airways in the last week of April, the industry was abuzz with speculation that Kardassis was on his way out Jet Airways chief executive Nikos Kardassis has resigned after a five-year stint with the

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Anil Agashe 07 June 2013
Is this move (by Narayana Murthy) an admission about his failure in choosing Infosys leaders? If so why does he not admit it in public for the sake of corporate governance and transparency that he talks about all the time? Is trying to make comeback part of culture to cling on? So NR...

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Moneylife Digital Team 07 June 2013
Now you can get cashback on availing healthcare services through medicash membership. What does it offer and is the service worth availing?  Online cashback plans are gaining popularity. One such service, Medicash.in, a medical services e-tailer, offers a free membership, which entitles...

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Moneylife Digital Team 07 June 2013
“In India, the RBI does not target any exchange rate. We intervene in the foreign exchange market only to manage the volatility and to manage the disruption to the macro economic situation,” RBI governor, D Subbarao said Amid rupee crossing the 57 mark against US dollar, the Reserve Bank...

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