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Cabinet okays REC takeover by PFC

NEW DELHI: The government of India approved the sale of the government’s stake in state-run Rural Electrification Corp. Ltd (REC) to another state-run firm, for an estimated Rs 15,000 crore. "The CCEA gave in principle approval for strategic sale of the Government of India's existing 52.63 percent of total paid up equity shareholding in REC Ltd to Power Finance Corporation along with transfer of

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WhatsApp chief writes to RBI to expand payment services to all users in India

NEW DELHI: WhatsApp Chief has written to the Reserve Bank of India (RBI), seeking a formal nod to expand payments services to all its 200 million users in India. The development comes at a time when competitors such as Google have forged ahead with their payments offerings. The letter, dated November 5, mentions that

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Demonetization was draconian and massive shock for Indian economy says Ex-Chief Economic Advisor

NEW DELHI: Criticizing Prime Minister's Narendra Modi's demonetization decision, former Chief Economic Advisor (CEA) Arvind Subramanian has called Demonetisation a "massive, draconian, monetary shock" that accelerated economic slide to 6.8% in the seven quarters after it against the 8% recorded prior to the note ban. Breaking his silence on the November 8, 2016 decision

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Branding Happens in Political Elections says: Badrinath

“The amount set by commission for the elections is inadequate as candidates spend more than the decided sum. Many parties also sell tickets.” K.A Badrinath, Editor, Financial Chronicle Magazine, expressed these views on the last day of the two-day workshop organized by the Department of Journalism and Mass Communication &

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Half of India's ATMs may close down by March 2019 warns CATMI

MUMBAI: Nearly 50 per cent of the Automated Teller Machines (ATMs) may be shut down by March 2019  due to unviability of operations,  and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019, the Confederation of ATM Industry (CATMi) has warned.on Wednesday. Currently,

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