-PTI The retail sector, where the government permitted foreign direct investment in multi-brand, courted controversies during the year with several opposition parties making it a political issue in Parliament. Even before its entry into multi-brand retail, the global chain Wal-Mart was grappling with various issues, including spending money in the US on lobbying for entry into India. Adding action to the drama was Swedish furniture chain IKEA's hectic bargaining with the government over...
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Lok Sabha paves way for setting up more banks
-PTI Parliament on Thursday paved the way for corporate houses to enter the banking sector by approving the banking bill, a key reform legislation pending for long. Parliament also passed the amendments to the Debt recovery laws or Sarfesi law after a reply by finance minister P Chidambaram on the combined discussion on the two bills in Rajya Sabha. These two Bills -- Banking Laws (Amendment) Bill, 2012, and Enforcement of Security Interest...
More »Debt-Ridden Andhra Weaver Commits Suicide
-Outlook Karimnagar (AP): A Debt-ridden weaver allegedly committed suicide in Karimnagar district, police said today. Goli Yadagiri (55), a weaver from Mandepalli urban colony in Sircilla town, 40 kms from here, had borrowed money from private lenders for the marriage of his daughter. However, after failing to clear the Debt, he took the extreme step and hanged himself from the ceiling fan in his house last night, police said. A case has been registered...
More »Weft and warp of a crisis-Vivek S & Aseem Shrivastava
-The Hindu Though more people in India are in the textile sector, than in any other of the economy, bar agriculture, hostile and indifferent government policies are giving it short shrift Handloom weavers from all over the country are on a 72-hour hunger strike at Jantar Mantar in New Delhi from today in protest against the government’s textile policy. The protest is led by Rastra Cheneta Jana Samakhya, the State Handloom Weavers’...
More »RBI’s KYC guidelines: You can now open a bank account with just one document-Vivek Sharma
-MoneyLife.in The latest RBI KYC guidelines for opening new bank accounts make it a lot easier for common man as only one document would suffice as proof of identity and proof of residence The Reserve Bank of India (RBI) has come with modifications in KYC (Know Your Customer) guidelines. These modifications have been introduced as per the circular date 10 December 2012 (RBI/2012-13/322 DBOD.AML.BC. No. 65/14.01.001/2012-13). It is important to note that...
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