ECONOMY & NATION


Paul Kiel (ProPublica) 16 December 2013
High-cost lenders exploit laws tipped in their favour to sue tens of thousands of Americans every year. The result: A $1,000 loan grows to $40,000 A version of this story was published in the St. Louis Post-Dispatch on Sunday. Five years ago, Naya Burks of St. Louis borrowed $1,000...

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Moneylife Digital Team 13 December 2013
Torrent strengthened its position in Indian market by acquiring Elder’s Pharmaceutical women healthcare and pain management business   Torrent Pharmaceuticals Ltd (Torrent) have entered into a definitive binding agreement with Elder Pharmaceuticals Ltd (Elder) to acquire Elder’s...

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Moneylife Digital Team 13 December 2013
According to Nomura, a change in the RBI's monetary policy framework with a focus on CPI inflation as the new nominal anchor would have important macro implications and its success depends on the central bank's commitment and ability to adopt institutional changes after introducing the new...

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Moneylife Digital Team 13 December 2013
WPI numbers for November 2013 to be released on Monday may correct to levels below CPI food, forecasts an SBI research note. If not, CPI food inflation will head higher CPI (consumer price index) inflation jumped to 11.24% for November 2013. The jump in CPI inflation to 11.24% for Nov’13...

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Moneylife Digital Team 13 December 2013
With CPI inflation above 11%, the RBI may get aggressive with rate hikes, says Nomura India’s industrial production (IP) growth fell to -1.8% y-o-y (year-on-year) in October 2013 from 2% y-o-y in September, worse than expected. Meanwhile, CPI (consumer price index) inflation rose to...

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Moneylife Digital Team 12 December 2013
Industrial production entered the negative territory after three months, contracting by 1.8% in October 2013   Costlier fruits and vegetables such as onions and tomatoes pushed retail inflation to a nine-month high of 11.24% in November 2013, making it harder for the Reserve Bank to...

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Moneylife Digital Team 12 December 2013
Michael Ferreira, the former billiards champion and recipient of Padma Bhushan is the founder of 'Team Faith' that is involved in hard selling the QNet scheme across India and Egypt The economic offenses wing (EoW) of Mumbai police has summoned Michael Ferreira, the former billiards...

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Moneylife Digital Team 11 December 2013
The income tax department has eased its lengthy process by enabling online correction of PAN and Challan via TRACES website Income Tax (I-T) Department’s has eased the process of correction or modifications in PAN and challan. The TDS reconciliation analysis and correction enabling...

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Moneylife Digital Team 11 December 2013
High interest rates and sluggish investment demand are expected to continue, according to BNP Paribas. It has also opined that there is no differentiation between BJP and Congress election manifestos that gives any indication of ‘pro-growth’ investment policy In its recent note on Asian...

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Moneylife Digital Team 11 December 2013
A new survey reveals a stunning lack of ethics, poor regulation and lack of knowledge of participants afflicting the financial services industry The financial services industry has an ethics problem, according to a new report published by Economist Intelligence Unit (a part of the The...

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Moneylife Digital Team 10 December 2013
Bharti Aritel and Reliance Jio will utilise each other’s infrastructure to provide better quality of services Reliance Jio Infocomm Ltd (Reliance Jio), a subsidiary of Reliance Industries Ltd (RIL), and Bharti Airtel Ltd (Bharti) has decided to share each other’s telecom infrastructure....

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Moneylife Digital Team 10 December 2013
The draft guidelines for the new power regulatory regime and price has been formulated by CERC and it is expected to hit NTPC the worst National Thermal Power Corporation Ltd (NTPC) share crashed 11.26% Tuesday on BSE following news of new draft guidelines issued by Central Electricity...

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Bank union, AIBEA, demands that banks recover bad loans from wilful defaulters Trade unions are usually quick to announce protests to demand higher wages or better working conditions. This time, however, the All India Bank Employees Union (AIBEA), one of the biggest employees unions in...

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Moneylife Digital Team 10 December 2013
The price of LPG cylinder was hiked after the government raised commission paid to dealers by over 9% to Rs40.71 per 14.2-kg cylinder The price of domestic cooking gas (LPG) was on Tuesday hiked by Rs3.46 per cylinder after the union government raised the commission paid to dealers by...

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Bonds are market-linked instruments. Making money from bonds involves some amount of market-timing Shriram City Union Finance (SCUF) has launched its issue of secured non-convertible debentures (NCDs). SCUF NCDs will have annual coupon rate of 11% for a period of 36 months, 11.25% for 48...

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Moneylife Digital Team 09 December 2013
According to Nomura, if anti-incumbency proves to be a core theme in the 2014 general election, it will clearly be to Congress' disadvantage overall – although it does not follow, of course, that BJP would necessarily be the main beneficiary The state assembly elections are viewed by...

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MSMEs being the backbone of economy have been in need of funds to grow themselves but banks have adopted an approach which has failed to meet their needs When it comes to lending for business activities, banks tend to prefer large business entities to small players. This bias comes from...

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RBI's approach on too big to fail gives more weightage to factors such as securities issued and bought by banks in India and overlooking risky assets and growing NPAs of the lenders The financial crisis that hit the world economy at the beginning of the year 2008 was an eye opener. It...

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Moneylife Digital Team 05 December 2013
During November, all automakers reported weaker-than-expected numbers due to soft demand Indian auto industry witnessed weaker sales during November across the segments. While passenger car and medium and heavy commercial vehicles (MHCV) volumes declined tractor sales were the only...

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Moneylife Digital Team 05 December 2013
Vijay Mallya's Kingfisher owes Rs2,673 crore is the largest defaulter of PSBs while Winsome Diamond and Jewellery Co with dues of Rs2,660 crore is the second biggest defaulter Vijay Mallya-owned and now defunct Kingfisher Airlines is the biggest defaulter and owes Rs2,673 crore to public...

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