ECONOMY & NATION


Time is ripe now for the regulator to protect the bank depositors, customers, the public and the state from the archaic rules and regulations that have outlived their utility There was wide publicity recently in the media about the penalty levied by Reserve Bank of India (RBI) on 25...

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Moneylife Digital Team 12 August 2013
According to Nomura, the government’s broad strategy throws up no surprises and is mildly disappointing, given the build-up of expectations, also the measures broadly fall in the category of quick fix solutions and there is no detail on sustainably lowering the CAD Finance Minister P...

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Moneylife Digital Team 12 August 2013
Claiming that it is the right of parties to announce election manifestos, all political parties except BSP and two regional parties, opposed any restriction on them in announcing freebies   Major political parties except the Bahujan Samaj Party (BSP) on Monday opposed any restriction...

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Moneylife Digital Team 12 August 2013
According to Nomura, the sharp pickup in exports suggests that global demand is recovering. Even though external demand has improved, weak domestic demand has kept a lid on India's imports After two months of fall, India’s trade deficit remained flat at $12.3 billion in July from $12.2...

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Moneylife Digital Team 12 August 2013
While vehicle sales across the segments are down, scooter and vans reported higher numbers due to robust demand during July Auto sales continued to decline during July as well, with number of vehicles sold during the month declining 2.08% to 14.15 lakh units, says data released by the...

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Moneylife Digital Team 12 August 2013
SBI's first quarter net profit fell to Rs3,241.1 crore from Rs3,752 crore as its gross NPAs grew to 5.6% from 4.99%, a year ago period State Bank of India (SBI), the country's largest lender, on Monday reported 13.6% fall in its first quarter net profit due to higher provisioning of...

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Moneylife Digital Team 12 August 2013
Dr Swamy said he hope to work together and work for the BJP along with his colleagues to see that a new future for India can be built in the coming months Janata Party president Subramanian Swamy has merged his party with Bharatiya Janata Party (BJP) ahead of the 2014 general...

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Free-gifts are often ‘recycled’ and in the case of a landless peasant, nothing prevents this legacy being misused. Giving land on a free of cost basis is a grave mistake that any government can make, as this simply will kill the initiative to create wealth The National Land Reform Policy...

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Moneylife Digital Team 08 August 2013
The Bill, which replaces 57-year old regulations, aims to protect interest of employees and small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through “inspector raj” Two years after it was introduced in parliament, the Companies...

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Tata Motors unit Jaguar Land Rover is outperforming luxury brands like BMW, Audi and Mercedes overseas. However, on domestic front the Tata group company continues to report dwindling sales. Is it because the automaker is not experimenting with different, fresh designs? Tata Motors, the...

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Moneylife Digital Team 08 August 2013
Private equity firm Amaprop earned Rs129 crore, almost double the money it paid in 2005 to buy stake in Indiabulls Finance Company Indiabulls Housing Finance Ltd said it bought US-based private equity firm Amaprop Ltd's entire 42.5% stake in its unit Indiabulls Finance Company Pvt Ltd ...

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Moneylife Digital Team 08 August 2013
While most commentators are focused on current account deficit-CAD as a source of rupee weakness, over the short term, it’s the sales by FIIs in the debt market that is dragging the rupee down. That, in turn is influenced by the rising yield in US 10-year rate, fuelled by fears that Federal...

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Moneylife Digital Team 08 August 2013
While most commentators are focused on current account deficit-CAD as a source of rupee weakness, over the short term, it’s the sales by FIIs in the debt market that is dragging the rupee down. That, in turn is influenced by the rising yield in US 10-year rate, fuelled by fears that Federal...

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Moneylife Digital Team 08 August 2013
Amidst stubborn escalation of prices in most of the real estate markets, HDFC chairman Deepak Parekh said the residential price escalation now seems to be a thing of the past. “My view is that real estate prices should come down, at least on the residential side. The days of prices shooting...

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Moneylife Digital Team 07 August 2013
It remains to be seen whether the company can turn itself around after settling issues with the US Department of Justice even as it managed to narrow its net loss in the June quarter Ranbaxy Laboratories Ltd said its net loss during the first quarter narrowed to Rs608.8 crore on...

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Moneylife Digital Team 07 August 2013
The company’s overseas division, Jaguar Land Rover, has done exceptionally well, largely thanks to rupee depreciation and higher sales take off leading to an 8% increase in revenues Tata Motors reported a first quarter consolidated net profit of Rs1,726 crore from Rs2,245 crore despite...

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Moneylife Digital Team 07 August 2013
According to the ratings agency, deteriorating asset quality and earnings are likely to constrain the credit profiles of Indian banks over the next two years Ratings agency Standard & Poor's (S&P) has said that Indian banking sector is unlikely to recover in the next 18-24 months as slow...

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Moneylife Digital Team 07 August 2013
Forward Markets Commission has been given more powers to handle the NSEL settlement issue worth Rs5,600 crore The union government on Wednesday said that it has issued a notification giving more power to commodities market regulator Forward Markets Commission (FMC) to ensure that...

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Moneylife Digital Team 07 August 2013
SBI is fined for deficiencies and lapses in the operation and maintenance of the currency chest at its Secunderabad branch The Reserve Bank of India (RBI) on Wednesday said it imposed a fine of about Rs5.6 lakh on State Bank of India (SBI), the country’s largest lender, for violation of...

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If NPAs are not curbed effectively, it will not be long before India heads the Greek route.  The Ministry of Finance has to necessarily leave micromanagement of the banking sector to the RBI Dr KC Chakrabary, deputy governor of Reserve Bank of India (RBI) while speaking in the capital...

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