ECONOMY & NATION


Vellalapatti Swaminathan Iyer (ITATonline.org) 05 December 2013
Nokia India has got itself into a terrible mess over alleged failure to deduct TDS on royalty payments to its parent company. What would have ended with a mere 10% tax rate has now morphed into a horrendous tax liability. It will take all of Harish Salve’s wizardry to pull Nokia out from the...

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Moneylife Digital Team 04 December 2013
RBI has permitted infrastructure companies to tap the external commercial borrowings, or ECB route, to enable them to get much needed funds to kickstart stalled projects In an effort to boost the otherwise stalled infrastructure sector and get projects off the ground, the Reserve Bank of...

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Marian Wang (ProPublica) 04 December 2013
The Consumer Financial Protection Bureau announced increased oversight of the companies that act as go-between for student borrowers and lenders Sallie Mae and other large student-loan servicers -- the companies that act as a go-between for borrowers and lenders -- will soon be getting...

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Moneylife Digital Team 03 December 2013
Only SME, mortgage, real estate, construction and roads sectors reported meaningful growth in October 2013, reports Nomura Equity Research based on RBI released sector-wise monthly loan data As of October 2013, aggregate non-food credit growth was 17% y-y (year-on-year), with primary...

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Moneylife Digital Team 03 December 2013
In their latest note, Morgan Stanley has revised upwards their Indian economy growth estimates for 2013, 2014 as well as 2015. At the same time, it is cautiously optimistic about Indian economy prospects Morgan Stanley believes that the Indian economy will be able to achieve 6% growth by...

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Moneylife Digital Team 03 December 2013
With growth bottoming out and a mild recovery likely in FY15, Nomura expects a slow rise in imports for India next year with the CAD estimated at 3.2% of GDP The Reserve Bank of India released the quarterly balance of payment data that showed a sharp fall in the current account deficit...

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Moneylife Digital Team 03 December 2013
Hero MotoCorp and Magneti Marelli would invest $8.5 million in three years in their JV HMC-MM Auto to produce new gen powertrains in India Hero MotoCorp, the country's largest bike maker on Tuesday said it has partnered with Milan (Italy) based Magneti Marelli for the manufacturing new...

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Moneylife Digital Team 03 December 2013
No sales growth and continued overcapacity in T & D makers in 2QFY14, says Nomura in its research note An analysis of the domestic power business of Crompton Greaves, ABB India and other small listed transformer makers suggests that 2QFY14 witnessed a modest margin uptick, says Nomura in...

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Moneylife Digital Team 02 December 2013
As per the draft guidelines, RBI would allow banks with good credentials to operate as insurance brokers and leverage their branch to increase the penetration of the insurance sector The Reserve Bank of India (RBI) has decided to permit banks to become insurance brokers in order develop...

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Moneylife Digital Team 02 December 2013
HSBC PMI for India rose to 51.3 in November from 49.6 in October led by a pickup in output and new orders India’s manufacturing purchasing manager index (PMI) rose to 51.3 in November from 49.6 in October, above the expansion/ contraction threshold of 50 and led by a pickup in output and...

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Moneylife Digital Team 02 December 2013
According to Huffington Post, the Congress party chief is on 12th position among world's richest leaders with a wealth of $2 billion HuffPost World has compiled a list of the 20 richest world leaders currently in power based on available data. The list led by Russian president Vladimir...

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Moneylife Digital Team 30 November 2013
The Reserve Bank’s new norms may allow Italian CRIF credit bureau to enter Indian market and also let it take over the cash-strapped and troubled High Mark The Reserve Bank of India (RBI) has increased the foreign direct investment (FDI)  limit to 74% in credit information bureaus in the...

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Moneylife Digital Team 30 November 2013
Nomura expects India GDP growth to bottom out at 4.5% to 5% and expects GDP growth to pick up post elections India’s gross domestic product (GDP) should pick up further to around 5% during the fourth quarter to end-March on on a continued push from the bumper summer crop and strong...

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Moneylife Digital Team 29 November 2013
RBI in consultation with Government of India, has decided to launch Inflation Indexed National Savings Securities-Cumulative (IINSS-C) for retail investors in the second half of December 2013 Inflation Indexed National Savings Securities-Cumulative (IINSS-C) securities  are being...

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Hudco and NTPC tax free bonds will be offered from 2nd and 3rd December respectively. Which one should you subscribe considering that Hudco rates are little higher and even crossing 9% barrier?   NTPC (formerly National Thermal Power Corporation), country's largest power producer and a...

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Moneylife Digital Team 29 November 2013
Since 2011, the entire bullion trade is reeling under increased prices, however, Malabar Gold and Diamond’s turnover witnessed 550% jump! Malabar Group made a modest start in Calicut in 1993 with a capital of about Rs50 lakh. In just 20 years, it has grown in to a Rs22,000 crore empire,...

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Moneylife Digital Team 29 November 2013
While EOW of Mumbai police has registered cases against QNet, Speak Asia and MMM India, Maharashtra government has appealed investors and members of public to be cautious about such MLM, Ponzi and money circulation scheme operators The Home Ministry (or home department) in Maharashtra...

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Moneylife Digital Team 28 November 2013
India defines value in a different way to most of the other large car markets in the world. Hence, each global player needs to take a call whether it wants to wait for the market to mature or is willing to make extra effort to address the current market needs, feels Credit Suisse India...

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Moneylife Digital Team 28 November 2013
MCX appointed Satyananda Mishra, former chief information commissioner & IAS officer as the Chairman of the Board on FMC approval Multi Commodity Exchange of India Ltd (MCX) said it appointed Satyanand Mishra, the former chief information commissioner as its new chairman.   In a...

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Moneylife Digital Team 28 November 2013
Does the increase in gold smuggling in India and Malabar Gold have any connection? A few days ago, DRI raided the jeweller’s main office after one smuggler confessed of selling the yellow metal to Malabar Gold Malabar Gold and Diamonds, the rapidly expanding jewellery chain from Kerala...

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