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‘Only banks, FIs exempt from open offer in corporate debt restructuring’

IANS   NEW DELHI Market Regulator SEBI on Friday came out with rules for providing exemption from open offer requirements for corporate debt restructuring, which will now be restricted to scheduled commercial banks and all-India financial institutions. The decision could help the cash-strapped Jet Airways which is looking for investment from lenders. The market watchdog met in Delhi on Friday …

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GDP growth projection lowered to 7% in 2018-2019

IANS NEW DELHI India is estimated to grow at a slower pace of 7 per cent in 2018-19, down from the 7.2 per cent attained during the previous financial year, according to official data. “Real gross domestic product (GDP) at constant (2011-12) prices in the year 2018-19 is likely to attain a level of Rs 141 lakh crore, as against …

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Minister calls on states to join Udan

IANS   NEW DELHI Union Minister Suresh Prabhu on Thursday called upon state governments to join the regional air connectivity scheme, Udan, to realise the growth benefits from the multiplier effect of travel and tourism. Inaugurating the third edition of ‘Wings 2019’ here, the Commerce and Industry and Civil Aviation Minister said that in order to make air travel affordable …

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Banks are no more puppets of any govt, says Jaitley

UNI   NEW DELHI Union Finance Minister Arun Jaitley said on Thursday that the UPA regime was a great learning experience and taking a cue from them, they have provided public sector banks such a competitive environment and easy norms that they are no more puppets of any government. “Earlier regime was a great learning experience. We announce easy norms …

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ECONOMIC SCAN

GST seminar at GCCI tomorrow PANAJI: A seminar on the recent amendments to GST Act and also on the impact of newly notified banning of Unregulated Deposit Scheme 2019, will be held on March 2 at 9.30 am  at  the GCCI convention hall. The seminar is organised by GCCI. Chartered accountant, Yatish Pai Vernekar, will explain the significance of the recent amendments to GST Act and …

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‘India must manufacture chips for data security’

IANS   NEW DELHI Telecom Secretary Aruna Sundararajan on Wednesday said that India cannot remain secure in terms of data and save the excess outgo in royalty payments unless it manufactures its own chips and takes a lead in the core information and communications technology (ICT). She was speaking after the unveiling of India’s first indigenous semiconductor chips by a …

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Elections likely to affect demand for MF products, says Kotak MF

NT NETWORK   PANAJI Lok Sabha elections are expected to take a toll on mutual funds with industry players estimating the sector to slow down to single-digit in 2019. On Wednesday, Manish Mehta, national head, sales and marketing, Kotak Mahindra, asset management company, the seventh largest fund house in India, said that, investments in mutual funds (MFs) are anticipated to …

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‘Very strong plan’ to ensure fuel supplies to defence in place

PTI NEW DELHI As tensions with Pakistan escalated, Indian oil companies have put in motion a “very strong plan” including moving a convoy of 500 trucks to ensure uninterrupted fuel supplies to all defence and strategic assets, top officials said Wednesday. Tanks feeding defence establishment in forward areas along the border with Pakistan are all “topped up” and have enough …

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UTI Mutual Fund’s ‘UTI MF Equity Yatra’ launched

NT NETWORK   PANAJI While majority of mutual fund customers are only concerned over the returns, it would be better for them to understand the process of portfolio creation and research that goes into the execution of schemes while investing, said a fund manager on Monday. Speaking on the average MF customer, fund manager, UTI AMC, Swarti Kulkarni, pointed out …

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Congress govt in Rajasthan denying farmers’ benefits: PM

PTI   Churu Prime Minister Narendra Modi Tuesday attacked the Congress government in Rajasthan, saying it is denying the small farmers the benefit of the direct cash transfer scheme of his government by not providing a list of those eligible. There should not be politics on such an issue, he said at a public rally here. “Rajasthan has not provided …

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