ECONOMY & NATION


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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As officials in Delhi sense that the Congress government will not return, they are taking bold potshots The Congress-led government spent almost the entire duration of Vinod Rai’s tenure as comptroller & auditor general (CAG) in a state of constant worry wondering what scam the CAG would...

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Moneylife Digital Team 17 February 2014
During the December quarter, Supreme Infrastructure posted 11% lower net profit due to higher costs even as its sales increased 10% Supreme Infrastructure India Ltd (Supreme Infrastructure), an engineering, procurement and construction (EPC) company, reported an 11% lower third quarter...

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Moneylife Digital Team 17 February 2014
Excise duty for small cars, scooters, motorcycles and commercial vehicles will come down to 8% from 12% while SUVs will attract excise duty of 24% as against 30% earlier Prices of automobiles, including cars, sports utility vehicles (SUVs) and two-wheelers, are set to come down with...

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Moneylife Digital Team 17 February 2014
The Indian government will need to continue to prune its spending in the next year as well to meet its budgeted fiscal deficit target. Therefore, the trend of forced fiscal austerity will likely continue next year, says Nomura in a research note The Indian government has managed to...

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Killing off some zombie banks would be good for a system where banks are hoarding capital rather than lending it, but there is little political or economic incentive to do so Pity the poor regulator, in this case a banking regulator. The European Union has just appointed Danièle Nouy as...

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Moneylife Digital Team 15 February 2014
The Delhi LG’s move keeps the option open for any political party or a combination of parties to try to form a government in future   Delhi's Lieutenant Governor Najeeb Jung is understood to have suggested imposition of President’s rule by keeping the legislature under suspended...

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Moneylife Digital Team 15 February 2014
Nokia said the recent developments in India about the Rs21,153 crore tax liability case is not expected to affect its $7.2 billion deal with Microsoft   Finnish Nokia said the recent developments in the Rs21,153-crore tax liability case in India is not expected to affect the timing or...

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Moneylife Digital Team 14 February 2014
During the December quarter Eicher Motors reported growth of 2.18 times in its net profit to Rs74.43 on robust sales driven by mainly Royal Enfield motorcycle business and higher exports Eicher Motors, the manufacturer of commercial vehicles and iconic ‘Royal Enfield’ brand motorcycles,...

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Finally, SEBI seems to have woken up to possible thousands of crores invested by consumers in gold savings schemes of jewellers. In these cases, there is no recourse, if the jeweller happens to shut shop. It is time these schemes are regulated to prevent any future scam   Many jewellers...

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Moneylife Digital Team 14 February 2014
State Bank of India’s net profit fall to Rs2,234 crore mainly on higher provisions for bad loans and increased staff expenses   State Bank of India (SBI), the country's largest lender, reported a 34% fall in its third quarter net profit mainly on higher provisions for bad loans and...

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Moneylife Digital Team 14 February 2014
L Rajagopal, the chairman of Lanco group and Congress MP sprayed pepper spray while the Telangana bill was being placed in Lok Sabha. Lanco, which is in the debt restructuring process, has also been frequently involved in a number of controversies Lagadapati or L Rajagopal is in the eye...

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Revival of mining activity in Goa would bring great relief to people who are suffering now and also give impetus for export   It may be recalled that the Supreme Court imposed a mining ban on both Goa and Karnataka due to illegal activities; later on, in the last quarter of 2013, the...

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Moneylife Digital Team 14 February 2014
According to Nomura, savings rate in India can be improved if fiscal consolidation continues and if inflation moderates, which will pave the way for higher income growth over time There is stabilisation in the domestic savings rate in India and it is a positive, says Nomura in a research...

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Moneylife Digital Team 13 February 2014
The government received bids for around 78% of blocks in 1,800 Mhz band, and 100% in 900 MHz band that would help it to mop up over Rs61,000 crore from the auction The Indian government has received bids worth over Rs61,000 crore from the telecom spectrum auction that ended on 10th day...

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Moneylife Digital Team 13 February 2014
PI Industries during December quarter reported 45% higher net profit as its sales grew 23% PI Industries, Rajasthan based agricultural chemicals and products manufacturing company said its third quarter net profit increased 45% on in its total sales growth of 29%.   For the quarter...

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Moneylife Digital Team 13 February 2014
During the December quarter, Sun Pharmaceuticals’ net profit surged to Rs1,531 crore on robust sales and higher exports Sun Pharmaceutical Industries Ltd (Sun Pharmaceutical), recorded a 74% jump in its third quarter net profit on robust sales in domestic and overseas markets.

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Moneylife Digital Team 13 February 2014
Decks were cleared for an end to the boycott imposed on Modi by the US in the aftermath of the 2002 post-Godhra riots when, Nancy Powell sought an appointment with the Gujarat chief minister   Ending a nine-year boycott, US ambassador Nancy Powell on Thursday met Gujarat chief...

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