FE Bureau
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MPC minutes: RBI governor flagged inflation risks
RBI governor Urjit Patel flagged concerns over persistently high inflation while acknowledging that growth impulses in the economy continue to be reasonably strong in the meeting of the monetary policy committee that raised the repo rate by 25 basis points (bps) to 6.5% earlier this month.
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NPCI launches UPI 2.0, adds feature to block funds for future use
The National Payments Corporation of India (NPCI) on Thursday went live with UPI 2.0 — an upgraded version of its Unified Payments Interface (UPI) service, which will allow users to block funds for a future transaction and pre-authorise the same.
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Kotak shares fall to 3-month low after RBI declines preference share allotment
The stock of Kotak Mahindra Bank declined 3.62% on Thursday to hit a three-month low of Rs 1,244.90 on Thursday on the BSE after the lender said the Reserve Bank of India (RBI) had rejected its proposal to issue non-convertible preference shares to reduce promoter holding.
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SBI puts fresh set of NPAs worth Rs 383 crore up for sale
State Bank of India (SBI) has put on sale a fresh batch of non-performing assets (NPAs) worth Rs 383 crore, days after it put on the block two accounts with a total outstanding of Rs 2,490 crore.
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Airtel Payments Bank, Bharti AXA Life join hands for govt insurance scheme PMJJBY
Airtel Payments Bank on Thursday announced that it has partnered with Bharti AXA Life Insurance to offer the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), a government-backed life insurance scheme aimed at increasing life insurance cover.
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Truck rentals up 5 percent on more freight offerings, e-way bill system
As price of diesel rose Rs 1.30 a litre; soft surveillance of e-way bill digital transit pass system began; cargo offerings from fruits, vehicles, food items, general merchandise on trunk trade routes surged 10%, consumer spending had gone up significantly high and so had consumption in metros, tier-I and -II cities.
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Coal scam case: CBI court frames additional charges against Naveen Jindal, others
A special CBI court on Thursday framed additional charges of abetment of bribery against former Congress MP Naveen Jindal and some others in connection with the allocation of the Amarkonda Murgadangal coal block in Jharkhand.
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PM Narendra Modi’s Independence Day Speech: From ‘Fragile Five’ to ‘Running Elephant’
The prime minister spoke of how, while the UPA kept mulling policies, it was his government that actually managed to realise them.
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Shareholding in IPAs: IBBI seeks to cap stake of multilateral bodies at 15%
The Insolvency and Bankruptcy Board of India (IBBI) has floated a discussion paper, proposing to cap the stake of multilateral institutions in an insolvency professionals agency (IPA) at 15%.
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Rupee fall: Have sufficient reserves to stem undue volatility, says Arun Jaitley
Amid a slide in the rupee, Union minister Arun Jaitley said on Wednesday that the country has adequate reserves to stem any undue volatility in the foreign exchange market.
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GMR Infra loss widens 72% to Rs 235 cr in Q1
Profits from the company’s flagship airport segment fell 60% y-o-y to Rs 277 crore despite 14% traffic growth in the same period. Losses in the power business widened by 10% to Rs 184.2 crore.
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CII wants Tamil Nadu government to intervene in FIR against TVS Motor’s Venu Srinivasan
The Madras HC has postponed hearing on Srinivasan’s plea against being named in the idol theft case after TN police assured it would not arrest the industrialist in the next six weeks.
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Farm loan waivers: Tread with caution – Here is why
In Punjab, the total short-term credit required per season is Rs 22,000 crore. Farm loans outstanding totalled ~Rs 63,000 crore, showing significant over-lending.
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Explained: Gender policies key to Modi’s political future
For a young country like India, creating employment opportunities is non-negotiable to maintain a healthy growth rate. That cannot happen with the low female labour force participation and the cultural gender bias.
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Data protection bill: Whom does it really protect?
The Bill, in its current form, could impact companies on matters related to compliance, fraud risk management and potential fraud investigations.
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Education needs to promote the maxim: Thesis+Antithesis = Synthesis
This era poses an enormous challenge for education. It is not that lies will now be accepted as truth, and truth is defamed as lies, but that the sense by which we take our bearings in the real world.
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AI & Cloud: Want AI to work for your business?
The final essential ingredient for AI success is the realisation that you can’t just do AI for the sake of it, and that you should not be building bespoke AI in most cases.
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5 ways women can prepare for greater Financial Independence
As we celebrate 71 years of freedom as a nation, this is a good time for women to reflect on their Financial Independence.
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Pressure on current account deficit: Trade deficit hits the 62-month high in July
Growth in imports touched a 14-month high of 28.8% in July to $43.79 billion. Exports growth slowed sequentially but still touched a decent 14.3% in July to $25.77 billion, as a rise in oil prices helped boost outbound shipment value.
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Stressed power assets: RBI cites High Court jurisdiction issue
The RBI wants all similar cases pending before high courts of Delhi, Allahabad and Madras transferred to the Supreme Court.
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Government proposes new financial model for building greenfield airports
The civil aviation ministry on Tuesday proposed a new financial model for building greenfield airports aimed at making air travel more affordable and addressing concerns over disputes related to tariff.
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Government invites fresh EoIs for 100% stake in Pawan Hans
The Centre, which owns the profitable Pawan Hans (PHL) in a 51:49 ratio with ONGC, on Tuesday invited fresh expressions of interest (EoIs) from potential buyers for the entire 100% stake in the premier helicopter service provider.
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Scooter-sharing start-up Vogo gets funding from Ola, Munjal, others
Vogo is a dockless scooter rental company which lets customers rent scooters for short one-way trips at various locations in Bengaluru and Hyderabad.
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Financial woes: Jet looks to raise funds via promoter share pledges
Can raise nearly Rs 1,035 cr against promoter share pledges; chairman Goyal holds 51% in the airline.
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Grasim posts 85% rise in June quarter profit
Aditya Birla group company Grasim Industries on Tuesday reported an 85% year-on-year increase in the company’s standalone net profit for April-June 2018 on the back of a robust growth in volumes in vicose fibre and chemical business.
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NTPC to create coal mining subsidiary
Coal supply to power plants have been a pressing issue on the back of rising power demand and inadequate railway rakes to tansport the fuel.
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Jio Phone 2 to go on flash sale tomorrow
Reliance Jio’s second edition of the 4G feature phone — JioPhone 2 — will be made available for the public through a flash sale on Thursday around noon on Jio.com.
