ECONOMY & NATION


Moneylife Digital Team 26 June 2014
This was in connection with a compalint filed by Dr. Subramanian Swamy accusing Sonia and Rahul of illegally acquiring the assets of the National Herald newspaper. A Magistrate in Delhi issued summons to Sonia Gandhi and Rahul Gandhi, requiring them to appear before the court on August...

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Moneylife Digital Team 25 June 2014
The Modi government has decided to prolong the status quo on gas prices for three more months The Cabinet Committee on Economic Affairs (CCEA) on Wednesday decided to prolong the status quo on gas prices for three more months. The CCEA met today to discuss the controversial gas price...

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Moneylife Digital Team 25 June 2014
According to media reports, a note is being sent to the Oil Minister Dharmendra Pradhan, for disallowing cost recovery of $578 million in 2013-14, and a notice will be sent to RIL once he approves it The Indian government is planning to impose an additional penalty of $578 million on...

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Moneylife Digital Team 25 June 2014
According to official data compiled till 23rd June, a total of 5,283 grievances are pending in various wings of the I-T department with 1,604 such pleas pending for more than one year The Central Board of Direct Taxes (CBDT) has asked the Income-Tax Department to ensure prompt action in...

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Dalbir Chhibbar 25 June 2014
The present system of land acquisition is grossly unjustified and not acceptable to any one, and as a result, a big mass of useful industrial land is lying idle or is under litigation Land has always been the most emotional asset for Indians. Most rural landholders hardly ever monetise...

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Moneylife Digital Team 23 June 2014
The government also decided to extend till September the export subsidy for giving relief to the sugar industry, which owes Rs11,000 crore to cane growers largely in Uttar Pradesh In a move that could lead to rise in the price of sugar, the Indian government on Monday decided to hike the...

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Moneylife Digital Team 23 June 2014
The Modi government has also asked all its ministers not to appoint officials who had served as personal staff of former ministers in the erstwhile UPA government The Indian government has made Intelligence Bureau (IB)'s clearance mandatory for appointment of a private person as officer...

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Moneylife Digital Team 20 June 2014
The oil ministry proposal of new price only for incremental gas is a practical one to resolve the complex and long pending price issue, says Nomura The petroleum ministry has proposed that a higher gas price as per the Rangarajan formula be allowed only for incremental production over...

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Dalbir Chhibbar 20 June 2014
Small borrowers immediately have their collaterals confiscated on default, but big industrial borrowers don't seem to suffer the same fate The state of India's banking system does not garner as much attention as it should. With our layers upon layers of public sector banks and lending...

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TruthInAdvertising.org 20 June 2014
GE Capital, which changed its name to Synchrony Bank earlier this month, must refund more than 6 lakh customers subjected to deceptive marketing and discriminatory practices relating to credit card products under a $225 million order from the CFPB and DOJ When trying to pay back your...

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Moneylife Digital Team 19 June 2014
Coca-Cola's bottling plant has been shut down in Mehdiganj by the Uttar Pradesh Pollution Control Board following violation of certain norms and complaints of increase in water pollution   This article was updated on 21 June 2014 at 3pm The Uttar Pradesh Pollution Control Board...

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Dalbir Chhibbar 19 June 2014
We urgently need to curtail and reduce all formalities, consents and permissions by repealing or  changing existing relevant laws on hotels, restaurants, bars and pubs, mostly framed by state governments Service based establishments like hotels, restaurants, resorts and bars are of...

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Moneylife Digital Team 19 June 2014
Indian refiners will make payment in rupee to UCO Bank, which will be transferred to RBI for onward credit to the central bank of UAE. The UAE central bank will then make payments in dirhams to Iran India will pay Iran $1.65 billion through the United Arab Emirates (UAE) central bank to...

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Moneylife Digital Team 19 June 2014
India’s high budget deficits are partly due to a large population and low per capita income levels, which increase macro-economic imbalances and thus 'expose the economy to shocks', say Moody’s Indian economy is exposed to 'shocks' due to high fiscal deficit and the country’s credit...

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Moneylife Digital Team 19 June 2014
Guru Pandyar, his wife Arundathi as well as Srinivas Sista and his wife Lalita filed applications for personal bankruptcy at Western District of Washington after being involved in multimillion dollar business fraud Guru Pandyar (Prasad Rao Pandyar-Guru), his wife Arundathi as well as...

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Moneylife Digital Team 19 June 2014
Competition Commission of Singapore feels the Jet-Etihad alliance relates to the provision of international air passenger transport services with a specific focus on the Singapore origin and destination city pairs The Jet Airways-Etihad deal is facing fresh trouble as the Competition...

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Moneylife Digital Team 18 June 2014
The decision of Air India to crack the whip comes amid reports that several cabin crew members were on the lookout for greener pastures, especially eyeing jobs in Gulf carriers Taking a tough stance to ensure discipline, state-run carrier Air India has sacked 47 members of its cabin crew...

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Dalbir Chhibbar 18 June 2014
Over the past five years, Coal India's profit jumped 735% to Rs17,356 crore by just raising coal prices while employee expenses grew almost double. However, between the same period, its coal production increased by just 5% Coal shortages have been caused mainly due to the inefficient and...

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Moneylife Digital Team 18 June 2014
Reliance Jio, in which RIL had invested over Rs70,000 crore, would start expanded field trials of its 4G services in August 2014 and will launch it in a phased manner next year, Mukesh Ambani said Mukesh Ambani, the chairman of Reliance Industries Ltd (RIL), said the company would...

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Moneylife Digital Team 17 June 2014
Cipla bought majority stake in a new distribution company from Sri Lanka to markets its products in that country Pharmaceutical company Cipla Ltd, on Tuesday, said it bought 60% stake in a new company in Sri Lanka for $14 million (nearly Rs85 crore) to market its products in that...

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