ECONOMY & NATION


Moneylife Digital Team 07 June 2013
“The Reserve Bank will keep a track of growth as it evolves, keep track of inflation as it evolves and keep track of aspirations and inspirations as it evolves,” RBI governor D Subbarao said Ahead of its mid-quarter policy, the Reserve Bank of India (RB) today said its monetary actions...

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Through his deals with his younger sibling, Mukesh Ambani is getting telecom infrastructure for RJio's 4G services at probably a fifth the rate of building his own network. Anil Ambani’s RCom on the other hand would be able to generate additional revenues from its infrastructure that can...

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Moneylife Digital Team 07 June 2013
In a notification, the RBI said while granting advance against the security of specially minted gold coins sold by banks, co-operative banks “should ensure that the weight of the coin(s) does not exceed 50 grams per customer” The Reserve Bank of India (RBI) has extended the restriction...

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Moneylife Digital Team 07 June 2013
“The front-end stores set up by Multi-brand retail trading (MBRT) entity will have to be 'company owned and company operated' only,” the DIPP said adding the wholesale/cash & carry trading cannot be considered as having provided back-end infrastructure The government clarified on...

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Moneylife Digital Team 07 June 2013
As many as 60-70 employees are currently on an indefinite hunger strike at the Kingfisher House near the domestic airport in Mumbai A section of the employees of the grounded Kingfisher Airlines on Thursday sat on a hunger strike at the Kingfisher House in Mumbai, demanding immediate...

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Moneylife Digital Team 06 June 2013
It has been three years since RIL returned to telecom with a big bang. Today, while outlining big plans for Reliance Jio, Mukesh Ambani yet again refrained from announcing a launch date for the 4G broadband service It is no secret that Mukesh Ambani, chairman and managing director (CMD)...

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Moneylife Digital Team 06 June 2013
As per the minimum public shareholding norms, government-run companies shall have a minimum public float of 10% by August and private sector companies had to bring down promoter stake to 75% by 3rd June this year The Securities and Exchange Board (SEBI) on Thursday said the government...

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Moneylife Digital Team 06 June 2013
Mukesh Ambani had in the last Annual General Meeting announced an investment of Rs1,00,000 crore over 4-5 years, which has now been expanded to Rs. 1.5 lakh crore and time compressed to 3 years Reliance Industries (RIL) on Thursday announced an investment of Rs1.5 lakh crore in core...

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Khalid Memon 06 June 2013
RBI deputy governor Dr KC Chakrabarty said that the decision on various charges levied by banks has been left to their respective board of directors and the Indian Banks Association oversees the reasonableness aspect and can suggest a cap on the charges. This policy prevents the RBI from...

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Moneylife Digital Team 06 June 2013
A consumer was denied home loan because CIBIL mixed up his credit history or record with someone else. Another was denied a loan due to gender mismatch. This could happen to you as well Moneylife and Moneylife Foundation have been continuously raising question on the quality of credit...

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From what appears from the media, the most significant interest in the new banking licenses has come from existing leading NBFCs. How would these companies convert themselves into banks? With all humility being harnessed, one cannot call it ‘clarifications’. In fact, the whole scenario...

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Moneylife Digital Team 06 June 2013
Citing a Supreme Court order of August 2010, the national auditor has asked Telecom Regulatory Authority of India (TRAI) to submit revenue sharing details and documents of private telecom operators for assessment by 20th June The Comptroller and Auditor General of India (CAG) has sought...

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Moneylife Digital Team 05 June 2013
The services sector which accounts around 60% of the India's GDP expanded largely driven by higher levels of new work placed at private sector firms in India, an HSBC survey said on Wednesday India’s services sector activity expanded in May and the pace was the fastest in three months,...

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Moneylife Digital Team 05 June 2013
The Union Cabinet of ministers has just cleared a bill to set up a real estate regulator. What does it mean to you? Property is the single largest asset that an Indian saver creates for himself after long years of saving; most Indians do not invest in stocks or mutual funds. Over the...

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Moneylife Digital Team 05 June 2013
Lakhs of customers of HDFC Bank across the country would not be able to do shopping, both online or offline, or any transaction using ATMs, debit cards on Saturday and Sunday as the lender wants to 'upgrade' its systems Private sector lender HDFC Bank has decided to take a break during...

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Whether it is a computer or a human error, banks must refund the amount they wrongly debit. While RBI has taken the first right step by asking the banks to issue an acknowledgment, it should ask the banks to instantly refund the tax wrongly deducted As per the present Income Tax (I-T)...

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Moneylife Digital Team 05 June 2013
Jaguar Land Rover’s May 2013 retail sales volume in the US came in at 4,989 units, up 11% y-o-y while other luxury OEMs have reported volume growth in the range of 8%-15%.  However, Nomura doesn’t expect the Tata Motors stock to react significantly to this data Jaguar Land Rover’s (JLR)...

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Moneylife Digital Team 05 June 2013
Given the competitive landscape and supply constraints faced by Perrigo and West Ward, Nomura believes the generic Depo Testosterone would be an interesting opportunity for Sun Pharma Sun Pharma on Tuesday announced that it had obtained final approval for generic Depo Testosterone ($130...

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Moneylife Digital Team 05 June 2013
Assuming the historical run rate over the past few years, Nomura expects the restructured loan delinquency for large PSU banks like PNB, BoB and SBI to go up 130% to 360% Worried over rising non-performing assets (NPAs), the Reserve Bank of India on 30 May 2013 tightened rules for...

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Moneylife Digital Team 05 June 2013
The Real Estate (Regulation and Development) Bill seeks to make it mandatory for developers to launch projects only after acquiring all statutory clearances from relevant authorities A Bill providing for setting up a regulator for the real estate sector and having provisions like a jail...

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