ECONOMY & NATION


Moneylife Digital Team 22 October 2013
If Jignesh Shah steps down from the MCX board, the company will be controlled by nominated directors. Its marquee institutional investors should wonder who will ensure the company’s growth?   Following Jignesh Shah’s willingness (?) to step down, it appears like Multi Commodity Exchange...

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Moneylife Digital Team 22 October 2013
NK Proteins' MD Nilesh Patel, also a son-in-law of NSEL's former chairman was arrested today. The EOW of Mumbai police arrested Patel who owed Rs930 crore the NSEL Nilesh K Patel, managing director of NK Proteins Ltd, one of the biggest defaulters of National Spot Exchange Ltd (NSEL),...

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Moneylife Digital Team 22 October 2013
According to Chidabaram, the Indian government is monitoring top 30 non-performing assets in all state-run bank in each zone Concerned over defaults by big borrowers, Finance Minister P Chidambaram on Tuesday said that the union government is monitoring the top 30 non-performing assets...

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Moneylife Digital Team 22 October 2013
As Moneylife Foundation and several other NGOs have been demanding, the government has agreed to give a tax break to senior citizens on income earned through the reverse mortgage scheme The government has given a big boost to reverse mortgage (RM) products by making annuity earned by...

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Our indigenous production of iron ore is suffering badly, as exports have come to a standstill for a couple of years now It may be recalled that the Supreme Court had permitted mining leases in category A and B mines in April this year. There were 45 mines in category A and 49 in B. In...

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Moneylife Digital Team 21 October 2013
MCX-SX invited application from suitably qualified and experienced candidates for the post of MD and CEO following resignation from Joseph Massey MCX Stock Exchange on Monday began search for a new managing director and chief executive to head the Exchange, whose group entities remain...

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RBI governor Raghuram Rajan tried to tell his colleagues about the dangers from flood of money from developed countries, but no one wants to listen. Eventually interest rates will rise higher than the present levels either because of uncertainty, inflation fears or tapering You have to...

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Prime Minister Manmohan Singh will presumably brief Russian President Putin about the ensuing meeting with Chinese Premier Li Kiqiang and possibly impress upon the latter to use his influence on the Chinese Premier to deal with India in a more friendly and realistic basis En route to...

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Moneylife Digital Team 18 October 2013
After recanting his earlier affidavit that he himself was to blame, Anjani Sinha has now blamed the Board members for the Rs5,600 crore NSEL scam A day after his arrest, ex-managing director of scam-ridden National Spot Exchange Limited (NSEL), Anjani Sinha, has put the blame squarely on...

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Moneylife Digital Team 18 October 2013
Despite an increase in expenditure, VST industries reports a 17.5% increase in net profit VST industries, a Hyderabad based third largest cigarette manufacturing company of India,  has announced a healthy results for the quarter ending on 30 September 2013. The company reported...

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Moneylife Digital Team 18 October 2013
Maharashtra has been facing an acute water shortage due to drought on one end and the Government advised its staff to keep a check on expenses, but, on the other end its own Ministers have indulged in extravagant flight travel in the past, an average of Rs2.10 crore annually The Forest...

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Moneylife Digital Team 18 October 2013
Despite a marginal increase in expenditure, RS Software announces a rise in profit driven by a 23% rise in income RS software India, a Kolkata-based software company reported 23% increase in net income at Rs9,550 lakh for the quarter ended 30th September 2013 as against Rs7,752 lakh for...

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Moneylife Digital Team 18 October 2013
Bharti Airtel buys out Qualcomm stake in JV for an undisclosed sum. However, a year ago, Bharti bought 49% stake at $165 million and increased its stake to 100% with this deal Bharti Airtel Ltd (Bharti), India’s top telecommunications carrier, said that it had bought out Qualcomm Inc’s...

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Vishrut Patel 18 October 2013
Why would anyone offer Rs15,500 ($256) a day to do basic typing work? Well, it appears to be a straight scam, without even pretending to run a business or create a pyramid.  It simply asks people to register FREE, seeks credit card details, ostensibly as age-proof and begins by siphoning off...

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Moneylife Digital Team 18 October 2013
Former union government secretary EAS Sarma has written a letter to Reserve Bank of India and Department of Economic Affairs, which drew attention to Moneylife article by Ramesh Arunachalam on areas of conflict of interest in the way RBI is processing new private banking licences

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Let the shale resources lie buried in the bowels of the earth, until we find better methods to extract them. It is well known that the extraction of shale gas is likely to cause serious environmental problems The government took the first major step in offering customs duty exemption for...

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The time is now ripe to make the RBI more accountable to the people of India. With its wide ranging powers and greater impact on all aspects of the economy, the accountability of RBI assumes even greater importance and should not be ignored. When I was growing up in the 1960s/1970s, the...

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Moneylife Digital Team 17 October 2013
BGR Energy has secured its first engineering, procurement and construction (EPC) project worth $246 million for Al Nasiriya gas turbine power plant from Ministry of Electricity, Iraq BGR Energy Systems Limited, a leading Indian EPC, balance of plant (BoP), power equipment manufacturing...

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The NRIs are poised to take advantage of the swap window which will fetch them handsome returns on deposits Even before the commencement of festival season, the Reserve Bank of India (RBI) has showered a bonanza on non-resident Indians (NRIs) and it appears to be a “festival sale...

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To an activist like me, the greatest loss is the fall in the quality of banking services to the smaller customers, more particularly the elders, disabled, home maker-women, widows and pensioners Any right thinking Indian will certainly question the wisdom of the Raghuram Rajan, the...

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