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In what could be a major setback to microfinance institutions, the Andhra Pradesh government proposes to set up a non-banking financial company to cater to the needs of self-help groups. The state government proposal involves roping in Andhra Bank as an equity partner. However, the chairman and managing director of the lender, R Ramachandran, says it is too early to comment on the proposed outfit.
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I paid a premium of Rs 1.2 lakh on a ULIP for five years. The life cover amount of the policy was Rs 12 lakh. I surrendered the policy in 2010 and the amount I received was Rs 6,03,000. Is the Rs 3,000 classified as a capital gain? If yes, will this amount be taxed in my hands and how do I calculate the tax?
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The Federal Trade Commission is the American equivalent of India s anti-competitive practices watchdog, Competition Commission of India. The agency, which has decades of experience in handling competition-related issues, like mergers, acquisitions and monopolistic practices, has been helping train and equip CCI in merger and acquisition scrutiny
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