ECONOMY & NATION


Avishek Rakshit (IANS) 02 June 2015
The air-conditioner (AC) segment this summer saw nearly flat growth until April-end. However, sales picked up from May as the temperatures across India soared   With air-conditioner sales adversely hit this year by an erratic and late summer, consumer electronic companies are now...

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The first set of new banking licences will be issued by August, taking the number of such private financial institutions operating in the country to more than 12.   "I hope to announce at least one set of bank licence by August end," Reserve Bank of India (RBI) Governor Raghuram...

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Moneylife Digital Team 02 June 2015
Large IT companies have lost their growth momentum   From their peak y-o-y growth in operating profit and net profit in the quarter ended March 2014, large IT companies have lost all their growth momentum. Even operating profit margins have declined to 24% from the peak 31% realised...

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Moneylife Digital Team 02 June 2015
While cutting the repo rate at which RBI lends money to banks by 25 basis points, the central bank said with low domestic capacity utilisation, still mixed indicators of recovery, and subdued investment and credit growth, there is a case for a cut in the policy rate    The Reserve...

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To make the idea work, the PMO should act as single window for a few big projects   It is no secret that India lost the manufacturing space to China long ago. We made no attempt to make manufacturing a priority for the nation. Opening up borders for foreigners’ goods and services took...

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It is the second consecutive month it has fallen. The ECI index registered a negative at 0.1 percent in March 2015   The Eight Core Industries (ECI) which comprise 37.91 percent of the total weight of items included in the Index of Industrial Production (IIP) fell by 0.4 percent in...

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According to the company, Reliance Holding USA, a subsidiary of Reliance Industries, has entered into a definitive agreements for the sale of its entire holding of 49.9 percent interest in EFS Midstream to an affiliate of Enterprise Products Partners   Oil refiner-to-retail major...

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Sales of India's largest passenger car manufacturer Maruti Suzuki grew by 13.8 percent in its total sales for May which stood at 114,825 units, up from 100,925 units sold in the corresponding month of 2014   Recovering from high fuel and interest costs, automobile manufacturers showed...

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A city branch of a nationalised bank on Monday furnished to the CBI documents giving details of several accounts West Bengal's ruling Trinamool Congress maintains with it.   The Central Bureau of Investigation (CBI), probing the multi-crore-rupee Saradha scam, last week sent notice...

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In a setback to Tamil Nadu Chief Minister J. Jayalalithaa, the Karnataka government on Monday decided to challenge in the Supreme Court her acquittal by the state high court in the illegal wealth case.   "The chief minister (Siddaramaiah) has directed me to file an appeal in the...

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A city court here on Monday sent Telugu Desam Party (TDP) MLA A. Revanth Reddy to a 14-day judicial custody on the charge of trying to bribe a nominated MLA to vote for a TDP-BJP candidate in the election to Telangana Legislative Council.   The Anti-Corruption Bureau (ACB), which...

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After complaints by individual income tax payers over the new forms announced in April, the government on Sunday notified a fresh set -- each of no more than three pages -- and did away with the much-resented details sought on foreign travel and bank accounts.   Since the process is...

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Biswajit Choudhury (IANS) 01 June 2015
Rajan has twice cut the repo rate, at which RBI lends to commercial banks, over two unscheduled monetary policy reviews in January and March, bringing it down to the current 7.50%   As the Reserve Bank of India (RBI) prepares for its bi-monthly monetary policy update here on Tuesday,...

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The telecom major confirmed the sale of its share in Bharti Infotel, representing an approximate 4.2 percent interest in Bharti Airtel   British telecom major Vodafone has sold its 4.2 percent stake in Bharti Airtel to Bharti Enterprises (Holding) for $200 million.   Vodafone...

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Moneylife Digital Team 28 May 2015
Here are some quick tips for taxpayers on how to file an online response to income tax demand notice, they may have received on tax arrears   Several people are receiving demand notices from the Income Tax department for tax arrears, despite having paid all their dues on time. Why is...

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After setting up units in India for wings, doors and beams for aircraft, a host of global aviation giants are pursuing facilities in the country to serve an industry, seen needing 1,400 new aircraft by 2020, says Civil Aviation Minister Ashok Gajapathi Raju.   In an exclusive...

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Moneylife Digital Team 28 May 2015
The changing nature of farm production is turning out to be a boon for producers of agrochemicals like UPL   According to a report on “Agrochemicals for food and nutritional security for the nation” prepared by FICCI and TATA Strategic Management Group, the Indian crop protection...

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Moneylife Digital Team 27 May 2015
In a series of tweets, Syngal alleged that Pradip Baijal and Nripendra Misra, both former chief of TRAI causes scams, one the 2G and the other converting limited to unlimited mobility causing colossal losses   BK Syngal, former chairman and managing director of erstwhile Videsh...

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Discounting any immediate plans to stop coal imports, Coal and Power Minister Piyush Goyal said on Wednesday that the government will open more than 60 coal mines across the country in the coming days.   "I am delighted to announce that 60 new mines are to open in the coming days. A...

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When our government left, India was the second fastest growing economy, he said.   Former prime minister Manmohan Singh on Wednesday hit out at allegations of corruption and policy paralysis against his government, saying he never used public office to "enrich" himself or his family...

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