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India loses big case about satellites, spectrum; faces astronomical damages

India has lost a major case in international arbitration and may have to pay up to a billion dollars in damages for cancelling a deal involving two satellites and the spectrum they were to use.


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7th Pay Commission: A look at key recommendations cleared by Cabinet

The Union Cabinet on Wednesday cleared the report of the Committee of Secretaries headed by Cabinet Secretary P K Sinha on the recommendations of the Seventh Pay Commission.


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7th Pay Commission: Centre likely to disburse increased allowances prospectively

The Central government may soon announce the implementation of 7th Pay Commission that would hike the salaries and allowances for over 1 crore government employees and pensioners by at least 23.5 percent.


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PM Modi urges citizens to disclose undisclosed income by Sept 30

Prime Minister Narendra Modi on Sunday urged citizens to disclose their undisclosed income by September 30. "I urge everyone to disclose undisclosed income by September 30. This is the last chance to avoid any problems...


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Arun Jaitley: India prepared to deal with fallout of Brexit

After it became clear on Friday that Britain is leaving the European Union, India's Finance Minister Arun Jaitley said that India is well prepared to deal with the short and medium term consequences of Brexit...


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Major change in FDI policy; 100% FDI allowed in defence

In a significant development, the Narendra Modi-led government at the Centre on Monday radically liberalised the FDI regime by permitting 100 per cent foreign direct investment under government approval route for almost every...


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Indian Envoy leaves immediately as Mallya turns up at London event

India reacted angrily at the "brazenness" shown by proclaimed offender Vijay Mallya on Saturday when he joined a book launch event at the London School of Economics. It is interesting to note that the event was also attended...


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RBI Chief Raghuram Rajan to step down

In a surprising development, RBI Governor Raghuram Rajan on Saturday announced he would step down as the head of the central bank after just one three-year term. Rajan, a former chief economist at the International...


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Cabinet okays civil aviation policy, 5/20 condition replaced with 0/20 rule

The Cabinet on Wednesday approved partial abolition of the 5/20 rule, paving way for new carriers like Vistara and Air Asia to start international operations sooner. The new Civil Aviation Policy released on...


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Good monsoons, better bank health could push up GDP to 7.75-8%: Arun Jaitley

When asked whether India could grow at 7.75-8% GDP growth in the current fiscal, finance minister Arun Jaitley sounded very positive in his response. The minister, while interacting with media on wide-ranging issues...


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Why a rich person like Subrata Roy not paying dues: SC

Expressing surprise over the huge wealth of Sahara group's chief Subrata Roy, the Supreme Court on Wednesday wondered why "such a rich person didn't pay a fraction of wealth and stayed in jail for two years"...


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UK refuses to deport Vijay Mallya, offers to help in extradition

In a major setback for the government, Britain on Tuesday told that it cannot deport liquor baron Vijay Mallya under its laws, but has offered to help new Delhi in extraditing him. "The UK Government has informed...


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Finance Ministry rolls back move to pay 8.7 percent interest on EPF

The central government rolled back its decision to lower interest rate on provident fund deposits to 8.7 percent for 2015-16 and agreed to fix it at 8.8 percent, the third EPF-related roll back since March.


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FDI proposals worth Rs 13,000cr get FIPB nod

Government panel Foreign Investment Promotion Board (FIPB) on Friday passed Rs 13,030 crore worth of foreign direct investment (FDI) proposals, including that of increasing foreign investment limit in Axis Bank...


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Vodafone picks BofA, Kotak, UBS, other banks for India IPO: report

British multinational telecommunications company Vodafone has mandated Bank of America Merrill Lynch (BofA), Kotak Investment Banking and UBS as joint global coordinators for the IPO of its Indian unit.


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Baba Ramdev's Patanjali takes on Nestle, P&G & Colgate

Patanjali Ayurved, the FMCG venture promoted by televangelist Baba Ramdev, on Tuesday said that it had clocked a turnover of Rs 5,000 crore during FY16 and aims to double it to Rs 10,000 crore during the current fiscal.


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Cigarette stocks feel FDI heat, Godfrey Phillips tanks 17%

Cigarette stocks of Godfrey Phillips were under heavy selling pressure on Tuesday, dropping by up to 17.4%, after reports that the government is developing a proposal to completely prohibit foreign direct investment (FDI)...


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SpiceJet fires pilot for locking himself in with air hostess

SpiceJet has fired one of its commanders for allegedly making an air hostess sit with him in the cockpit of a Boeing 737 on both legs of an international flight. He also asked his co-pilot to leave, giving the two a long...


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Cornered Mallya offers Rs 1590 cr as intent to pay debt

Vijay Mallya, the Indian liquor magnate offered to deposit Rs 1,590 crore with India's top court to prove his intent to settle dues with lenders who had rejected an earlier payment proposal.


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Centre's flip-flop on PF withdrawals: How it affects you?

Buckling under pressure from trade unions and violence in Bengaluru over the restrictions on withdrawal of Provident Fund (PF) corpus, the government on Tuesday rolled back the notice that introduced these measures.


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PF norms eased: Withdrawal allowed for housing, medical, education and

Employees' Provident Fund Organisation (EPFO) has decided to amend the new rules that confine employees from withdrawing their entire provident fund (PF) balance till the age of 58.


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ED may seek Interpol's help to arrest Vijay Mallya

The Enforcement Directorate (ED) is likely to seek Interpol's help to have liquor baron Vijay Mallya deported to India, similar to how Chhota Rajan was brought back after he was nabbed in Indonesia last year.


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Vijay Mallya Didn't Misuse Loan To Buy Homes Abroad, His Firm Says

Liquor Baron Vijay Mallya, whose passport has been suspended, has rebutted allegations that he drained off nearly half of a 900-crore loan to his Kingfisher Airlines, to acquire property abroad.


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Troubles mount for Vijay Mallya

Liquor baron Vijay Mallya on Friday suffered a major blow when his diplomatic passport was suspended by the government which has threatened to revoke it.


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H-1B visa: Over 1.7 lakh techies miss US gold rush

The US Citizenship and Immigration Services (USCIS) announced on Wednesday that it has finished the computerized draw of lots for allowing 65,000 H-1B visas.


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Forecast of good monsoon set to boost economy

After two succeeding years of scanty rainfall in many parts of the country, good monsoon will increase agriculture productivity and boost India's economy.


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Organized crime prosecutors raid Panama Papers firm Mossack Fonseca

Prosecutors of a new organized crime unit in Panama raided the headquarters of law firm Mossack Fonseca, which is facing investigation after its documents, dubbed the Panama Papers, were leaked.


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H-1B Visa cap reached in less than 5 days, Indian firms lead

Demand for skilled-worker U.S. visas, known as H-1Bs, surpassed the year's entire supply in the first week that employers could file applications, prompting the government to resort to computerized draw of lots to...


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Panama Papers: Firm in British Virgin Islands tied directly to Vijay Mallya

Troubles are increasing for industrialist Vijay Mallya as his name appears in the Panama Papers leaks as well. Mallya has been related directly to an offshore firm listed in the British Virgin Islands (BVI), which has been...


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Union Minister YS Chowdary Faces Arrest Over Alleged Loan Default

A non-bailable warrant has been issued against Union minister YS Chowdary on the complaint of a Mauritius-based bank.


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