ECONOMY & NATION


United Bank’s CMD opted for VRS as the lender reported 194% jump in its NPAs for the December quarter. This also brings forward the opaque procedures and appointments of statutory auditors and independent directors followed by India Inc As if, the unprecedented rise of 194% in the...

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Hitisha Jain 24 February 2014
With full dedication, Pavithra YS of e-Vindhya InfoMedia, made her mark by creating job opportunities for people with disabilities for its operations in data management, data entry, processing and conversion Seven years ago, Pavithra YS started Vindhya e-InfoMedia in Bengaluru as a...

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Prof Anil Agashe 24 February 2014
Handholding of a new borrower increases business possibility for future. Banks can be strict as a lender at right time but should be ready to act as friend and guide of the borrower, when required I have always believed that banks need to do handholding, especially of those entrepreneurs...

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Are the US and other developed countries responsible for the emerging market issues? Or in the alternative, are the all the emerging market troubles home grown? It will be interesting to see who the developed countries blame when the problems they created for emerging markets return home

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Ordinary borrowers often complain about difficulty in getting loans, while some large borrowers just get it on a platter. This also highlights high operational risks associated with people and process that may be responsible for increase in bad loans or NPAs   Non-performing assets...

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Moneylife Digital Team 21 February 2014
According to RBI survey, foreign banks operating in India generated more income from fee-based business like derivatives, stock, securities, foreign exchange trading services and financial consultancy or advisory services   Foreign banks operating in India are generating more...

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India must ensure taking the opportunity to push its export, targeting, particularly the Middle East, Africa and South Asia instead of resorting to ‘floor price’ ideas, which may not work all the time   According to the statistical data available, thanks to the timely monsoon, which...

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Moneylife Digital Team 20 February 2014
Pushpam Appalanaidu, MD of QuestNet India was arrested at Chennai International Airport following a look out notice from the Andhra Pradesh CID. Appalanaidu, a Malaysian, faces 21 criminal cases of cheating for duping investors for Rs160 crore Immigration authorities at the Chennai...

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Konica Bhatt 20 February 2014
“It’s not as difficult as it looks. You should have the conviction as well as a lot of self-confidence to do business”, says Amrit Borkakoty of ‘Serenity: Blissful Living’, an interior styling boutique from Mumbai Amrit Borkakoty is the proud owner of 'Serenity: Blissful Living', a...

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Moneylife Digital Team 20 February 2014
After the purchase, promoter group holding in GlaxoSmithKline Pharmaceuticals will go up to 75% from the current 50.67% stake   The Indian government on Thursday cleared a foreign direct investment (FDI) proposal worth Rs6,400 crore of healthcare company GlaxoSmithKline to acquire...

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Moneylife Digital Team 20 February 2014
The Supreme Court said that appropriate government has the power to remit sentence but it has to follow the laid down procedure Stalling the Jayalalithaa government’s decision to free all the assassins of Rajiv Gandhi, the Supreme Court on Thursday restrained the Tamil Nadu government...

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Moneylife Digital Team 19 February 2014
Following the Supreme Court verdict, the Jayalalitha government decided to release all convicts in the Rajiv Gandhi assassination case, including Nalini, Perarivalan, Santhan, Murugan, Robert Pious, Jayakumar and Ravichandran The Tamil Nadu Government on Wednesday decided to release all...

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Moneylife Digital Team 19 February 2014
The HC also directed the counsel for Delhi government to seek instructions and file an affidavit indicating the actual position regarding the proposal of Kejriwal government The Delhi High Court on Wednesday directed the city government not to implement the 50% subsidy announced by it to...

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Hitisha Jain 19 February 2014
That is the advice of Shubhra Bharadwaj of Ferriswheel Entertainment, which has carved a niche for herself in a highly competitive event management industry In just five years after she started Ferriswheel, a Mumbai-based event management company, Shubhra Bharadwaj has managed several...

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Vishrut Patel 18 February 2014
The CLB directed Zenith Birla India to repay its fixed deposit holders with interest in eight weeks. Yash Birla Group’s financial transactions are also being probed by various investigative agencies The Company Law Board (CLB) has asked Zenith Birla (India) Ltd to pay the dues of 579...

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Moneylife Digital Team 18 February 2014
Significantly, there was no live telecast by Lok Sabha TV for 90 minutes during a clause by clause consideration of the bill before its passage The Lok Sabha on Tuesday passed the Telangana Bill that would divide Andhra Pradesh in two parts amid din and strong protests by members from...

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Moneylife Digital Team 18 February 2014
According to NPAsource.com, almost 11 banks out of 40 posted a 50% plus growth in their gross NPAs during the nine months that ended on 31 December 2013 Gross non-performing assets (NPAs) or bad loans of 40 listed banks increased 35.2% or by Rs63,386 crore to over Rs2.4 lakh crore during...

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Moneylife Digital Team 18 February 2014
Rejecting the Centre’s view, the apex court commuted the death sentence of three convicts – Santhan, Murugan and Perarivalan – to imprisonment for life, subject to remission by the government The Supreme Court on Tuesday commuted death sentence of three condemned prisoners in the Rajiv...

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Nidhi Bothra  and   Abhirup Ghosh 18 February 2014
RBI’s framework for revitalising distressed assets leaves everyone in stress. Banks, NBFCs, India Inc, CAs and advocates, no one is spared The slacking Indian economy is sitting with huge pile of bad loans (estimated to be about Rs2.9 lakh crore) in the Rs82 lakh crore banking system and...

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Powerful businessmen can use politicians to loot the banking system. No rules for them As we go to press, member of parliament and corporate czar, Vijay Mallya, is making news for having created an IPL (Indian Premier League) record by bidding Rs14 crore for cricketer Yuvraj Singh. The...

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