[Validity Of Finance Act 2017- Day-3] Majority Judgment In Aadhaar Case Covers My Case, Submits AG As Constitution Bench Reserves Judgment

As Attorney General K. K. Venugopal resumed his submissions on the constitutionality of the passage as a Money Bill of the Finance Act of 2017 on Monday, Chief Justice Ranjan Gogoi asked for a copy of the Supreme Court’s order in Rajiv Garg, where the court had considered whether different conditions of service could be prescribed for different tribunals. In that case, the court had taken on record the assurance of the then-AG to speak with the different ministries as to uniformity in the retirement, functional facilities and accommodation of…

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Family finance: How salaried Singhs can achieve their money goals easily

Raman Singh and Amrita Kaur are both employed and bring in a combined monthly salary of Rs 1.5 lakh. They live in their own house worth Rs 1 crore, in Delhi, with their two children, aged eight and four. They have no liabilities, and their portfolio comprises equity in the form of mutual fundsworth Rs 82.2 lakh, debt worth Rs 90 lakh in the form of EPF, PPF and fixed deposits, and Rs 5 lakh as cash. Their goals include building an emergency corpus, saving for their kids’ education and weddings, buying another house,…

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Lifehacker Is Hiring a Personal Finance Writer

Do you have a black belt in salary negotiation? Are you in possession of more airline miles than everyone you know combined? Would your opinions on student loan payoff plans be considered “fascinating dinner party conversation”? Could you retire next year but would prefer instead to work in a very cool job explaining the finer points of personal finance to an audience of millions? Then we want to hear from you. Lifehacker has an immediate opening for a staff writer specializing in personal finance. This is full-time position with competitive salary…

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Oikocredit, others invest in housing finance company SEWA Grih Rin

SEWA Grih Rin Ltd, an affordable housing finance company of the Self-Employed Women’s Association (SEWA) Group, said it has raised Series B funding. The lender, operating under Sitara brand, has closed Rs 67 crore ($9.8 million at current exchange rate) funding round from Oikocredit, Omidyar Network India, HDFC Life Insurance, HDFC Holdings Ltd and Women’s World Banking. The company will be using the funds to strengthen its position in existing geographies as well as to expand strategically to other states. SEWA Grih Rin is promoted by a SEWA Mutual Benefit…

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Adaptation Finance Update: Number of Climate Adaptation Projects Increases, So Must Their Quality

According to the Global Environment Outlook (GEO-6), launched at the fourth session of the UN Environment Assembly (UNEA-4), climate adaptation programmes have not effectively dealt with multiple slow and rapid onset hazards, such as floods, droughts, tropical cyclones and sea level rise. Instead of addressing the underlying causes of vulnerability, they are often undertaken through sectoral programmes in, for example, agriculture, health and disaster management. Less than 5% of global climate finance is spent on adaptation, and less than 1% goes to coastal protection, infrastructure and disaster risk management (DRM)….

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Small finance banks start on a strong wicket: ICRA

Mumbai: Rating agency ICRANSE 3.23 % expects small finance banks (SFBs) to grow at a compounded annual growth rate of 25% to 30% led by diversified loan growth, deposit mobilisation, improving asset quality and better return on equity. The rating agency estimates that SFBs would require external capital of Rs. 4,000-6,000 crore till FY2023 for meeting the growth requirements, part of which will come through IPOs. ICRA estimates that SFBs have reported an annualised growth of 33% in the assets under management (AUM) in 9M FY2019 to Rs. 64,325 crore. These banks have been able…

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An MBA or a master’s in finance? Breaking down the debate dollar by dollar

It’s a question that elicits plenty of responses with seemingly nothing close to a consensus answer. Some believe that a master in finance has trumped a two-year business degree as the key qualification for getting a front-office job in banking or other high-paying roles in financial services. Others still see an MBA as the bigger differentiator. The truth is, judging simply by the numbers, it’s all about how much time and money you are willing to invest upfront. An MBA requires a much bigger down payment in all aspects, but…

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Nysaa hires former ShopClues, V-Mart CFO to head group finance

AHMEDABAD: Carpediem Capital-backed Nysaa Retail has bolstered its top deck as the value retail chain starts preparing for an initial public offering. The company named Deepak Sharma its group chief financial officer. Sharma previously was CFO at ShopClues and V-Mart. Nysaa also appointed Nitin Motwani, a former executive at Boston Consulting Group and Egon Zehnder, as the group chief HR officer and Gaurav Sharma, who previously worked at Metro Cash & Carry India, ABRL and the Future Group, as head of marketing. Nysaa, which operates stores under the 1-India Family Mart brand, is exploring its IPO by…

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Opinion | Printing currency isn’t a good way to finance deficit

On 10 February, wire services reported that the then interim finance minister Piyush Goyal favoured “printing currency” as a mode of deficit finance, approvingly citing the example of the US. “As finance ministers we are always in need of money,” Goyal said. He added, “I have heard that the US does deficit financing only by printing currency,” a canard that has been repeated by luminaries of the “Indic” ecosystem enveloping this government in its latter days. By “printing currency”, Goyal is referring to what traditionally was called money finance or…

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Family finance: Early planning, high surplus to help Gawades meet goals easily

He should invest the surplus for two months before starting investment for other goals. Nitin Gawade is a software engineer, who lives with his homemaker wife, Deepali, in his own house, in Pune. Gawade brings in a monthly salary of Rs 99,000, and manages a surplus of Rs 44,690 after household expenses, home loan EMI (for a Rs 13 lakh loan), insurance premium and investments. Though his portfolio is a meagre Rs 22.2 lakh at present, an early start to financial planningmeans he will be able to meet his primary goals with ease….

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