ECONOMY & NATION


The strategic move by the MoEF should be applauded and hopefully, a number of pending cases of UMPPs will now progress In a strategic move, which has been long overdue, the Ministry of Environment and Forests (MoEF) has decided that the UMPP (ultra mega power projects) will no longer be...

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Moneylife Digital Team 06 January 2014
The Reserve Bank of India (RBI) has cautioned users, holders and traders of virtual currencies (VC) like Bitcoin, Litecoin, BBQcoin and Dogecoin and is examining the legal and regulatory framework of VCs. In a press release, RBI stated that Bitcoin and other VCs are exposed to potential...

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Moneylife Digital Team 06 January 2014
Gross Capital Formation (GCF) declined sharply 8.7% in FY12 after growing by 23.2% in FY11 and 38.3% in FY10 Uncertain global and domestic environment dragged investment down by 8.7% in FY12. Tight monetary policy resulted in escalating lending rates discouraging industrial activity....

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Moneylife Digital Team 04 January 2014
Arvind Kejriwal has asked Delhi government officials to look for smaller accommodation for him as CM Facing criticism, especially over social media, Delhi Chief Minister Arvind Kejriwal on Saturday said that he will not take up the two five-bedroom duplex flats allotted to...

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Moneylife Digital Team 03 January 2014
BG Srinivas and UB Pravin Rao in their new role as president at Infosys will focus on global markets, delivery and service innovation Infosys Ltd on Friday appointed BG Srinivas and UB Pravin Rao as the presidents of the company with immediate effect. Both the presidents will report to...

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Moneylife Digital Team 03 January 2014
The upcoming general elections sees Credit Suisse optimistic on Indian cyclicals and believes that there are factors that support for an upward movement in HCL Technologies, Wipro, Tata Motors, Reliance, Sesa Sterlite and Cairn Energy Credit Suisse is overweight on India, with the...

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Moneylife Digital Team 03 January 2014
RBI allowed Karur Vysya Bank to increase FII investment limit to 40 % from 35% Private sector lender Karur Vyasa Bank (KVB) has been allowed by the Reserve Bank of India’s (RBI) to increase investment limit to 40% from 35% for foreign institutional investors (FIIs).   However RBI...

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Moneylife Digital Team 03 January 2014
Weak defence against corruption charge, attack on Narendra Modi and a desire not to be the PM for another term marked Dr Manmohan Singh’s last press conference The Prime Minister accepted failure to check unemployment and inflation in the last press conference of his tenure as PM. "I am...

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Considering the hardship to mine labourers and their families, fall in export, starving of supplies to the domestic level, steel industry and miners are hoping for a positive reaction from the Supreme Court for Goa as well At the close of 2013, the good news is the lifting of the ban...

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Moneylife Digital Team 02 January 2014
Arvind Kejriwal's AAP received 37 votes, including 28 of its own, 8 from Congress and one from JD (U)  Arvind Kejriwal-led Aam Admi Party (AAP) government in Delhi on Thursday won the confidence vote with support from Congress and Janata Dal (United)- JD(U).   AAP received 37...

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Moneylife Digital Team 02 January 2014
The Consumer Outlook Index, which reflects current and future spending plans, employment and inflation outlook of urban Indian consumers has registered a score of 40.2 for the month of December 2013, an uptick of 0.4 points compared to the previous month, according to a release by ZyFin...

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Moneylife Digital Team 02 January 2014
Fiscal stress has been building up due to weak revenue collection amid a slowing economy, lacklustre asset sales and elevated spending, says Nomura in a research note The government’s fiscal deficit in the first eight months (April-November) of FY14 reached 93.9% of the full-year...

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Moneylife Digital Team 02 January 2014
Maharashtra cabinet has decided to accept the recommendations of the report, though only partially Maharashtra government that was 'forced' to re-consider the judicial panel report on Adarsh housing society scam, on Thursday partially accepted the report and decided to form a committee...

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Moneylife Digital Team 02 January 2014
Mumbai Police have issued lookout notice against 10 people including QNet founder Vijay Eswaran and former billiards champion Michael Ferreira in the Rs425 crore QNet scam case The economic offences wing (EOW) of Mumbai police has issued lookout notices against 10 people including...

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Moneylife Digital Team 31 December 2013
According to NPAsource.com, Maharashtra, largely due to Mumbai, tops both the categories of commercial and residential NPA properties for sale Commercial and residential properties of non-performing assets (NPAs) with banks and financial institutions worth an estimated Rs7,700 crore are...

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Looking at the issues faced by MSMEs in borrowing money from banks, one really wonders why this happens when there is a code of banks commitment to micro and small enterprises Micro, Small and Medium Enterprises (MSMEs) are often hailed as the pillars of Indian economy. Their...

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In order to increase coal production, Moily must ensure that projects do not get inordinately delayed on the issue of clearances that apparently plague the industrial development, particularly in the mining industry With Jayanthi Natarajan leaving the ministry and Veerappa Moily taking...

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Moneylife Digital Team 30 December 2013
Tesco is the first global retailer to apply for multi-brand retailing after the Indian government allowed 51% FDI in the segment The Foreign Investment Promotion Board (FIPB) on Monday approved UK-based Tesco Plc's proposal to enter Indian multi-brand retail segment in a joint venture...

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Moneylife Digital Team 30 December 2013
Welspun Corp is selling its entire 39.88% stake in Leighton Welspun Contractors India Pvt Ltd for $99 million and would the money to reduce its debt Welspun Corp Ltd (WCL) said its unit Welspun Infra Projects Pvt Ltd will sell its entire 39.88% stake in Leighton Welspun Contractors India...

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Moneylife Digital Team 30 December 2013
India’s overall CRISIL Inclusix score has risen by 2.7 in fiscal 2012 – the highest annual increase since 2009, says Roopa Kudva, MD & CEO, CRISIL CRISIL today released the latest scores for CRISIL Inclusix, its financial inclusion index, based on the latest data (as on 31 March 2012)...

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