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HindustanTimes Sat,23 Aug 2014

Business

Goldman Sachs in deal worth $1.2bn over US bond claims

Goldman Sachs
The Federal Housing Finance Agency, which oversees Fannie and Freddie, announced the settlement Friday with the Wall Street powerhouse. Goldman Sachs sold the securities to the companies between 2005 and 2007.

Infosys gives 22,794 restricted stock units to CEO Sikka

Vishal Sikka
Country's second largest software firm Infosys has granted close to 22,800 restricted stock units (RSUs) — worth over Rs. 8.2 crore in shares — to its new CEO and managing director Vishal Sikka.

Sebi clamps down on PACL’s Rs. 50K croremoney-pooling scheme

SEBI
In its biggest ever crackdown, capital market regulator Sebi on Friday ordered the closure of a Rs. 50,000-crore collective investment scheme run by Pearls Agrotech Corporation Ltd and directed the company to refund investors’ money within three months.

State-run banks to give Rs. 5,000 loans in phases

Banknotes
Public sector banks will provide the Rs. 5,000-credit facility promised under the ‘Pradhanmantri Jan Dhan Yojana’ in a phased manner to avoid major defaults. In case of timely repayment, however, the credit limit could be enhanced to as much as Rs. 15,000.

US not against India's stand on WTO: Nirmala Sitharaman

Nirmala Sitharaman
India on Friday said the US was not totally averse to its stand on giving food subsidies but was willing to convince the WTO members on the issue.

Bhushan Steel’s Singals brought down by their vaulting ambitions

Sudhir Kumar Jain
The ongoing Syndicate Bank bribery scandal that resulted in the arrest of the bank’s chief, SK Jain, and Neeraj Singal, managing director of Bhushan Steel, has put the steel company and its high debt firmly in the spotlight, spooking both lenders and investors.

Gap to enter India with Arvind Lifestyle

US fashion retailer Gap has announced its plans to enter India through a tieup with Arvind Lifestyle Brands, a subsidiary of denim maker Arvind Ltd, and plans to open 40 stores across the country over five years.

India to hike iron ore royalty, miners may struggle to pass on extra cost

worker collects
The cabinet has agreed to raise the royalty rates for iron ore and other minerals, a mining ministry official said, raising the cost for domestic miners, and potentially making imported ore more attractive.

Rupee hits three-week high; gains for third straight week

rupee
The rupee gained 15 paise to 60.52 against the US dollar in early trade at the Interbank Foreign Exchange market on Friday amid sustained overseas capital inflows.

HC grants bail to Jignesh Shah in NSEL scam

Jignesh Shah

The Bombay high court on Friday granted bail to Financial Technologies (India) Ltd promoter Jignesh Shah, arrested in connection with the alleged fraud of Rs. 5,547 crore at the NSEL, saying the investigation has not revealed any link between him and the ill-gotten money.

RBI notifies increased PPF deposit limit of Rs. 1.5 lakh/year

Jignesh Shah
The Reserve Bank on Friday notified the increase in deposit money under Public Provident Fund (PPF) to Rs. 1.5 lakh from Rs. 1 lakh earlier.

What ails India’s banking sector?

bank strike
The Indian banking system is reeling under the burden of high non-performing assets (loans that borrowers have defaulted on repaying) amid allegations of corruption in high-level appointments and inadequate systemic safeguards.

SpiceJet under I-T scanner for TDS violations

SpiceJet
Low cost airline SpiceJet is under the scanner of Income Tax department for suspected violations of TDS (tax deducted at source) and distribution of Form-16 to its employees, a top CBDT official said on Friday.

RBI to conduct frequent term repos for flexible cash management

SpiceJet
The Reserve Bank of India (RBI) said it would conduct more frequent term repos but retained the overall borrowing limit for lenders, in a bid to make borrowing more flexible without injecting additional liquidity into markets.

Sensex up 111 points in early trade; Nifty touches new peak

Bombay stock exchange
The benchmark BSE Sensex rose over 111 points and the NSE Nifty soared to a new life-time high of 7,924.90 in early trade on Friday as IT, oil and gas, power and consumer durable stocks led the rally on sustained capital inflows.

Trai relaxes time for resolution of billing complaints

Say goodbye to pesky calls, SMSes
In a relief to telecom operators,sectoral regulator Trai has relaxed the time by two weeks for resolution of billing and charging complaints by consumers.
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