Centre bars JNU, Delhi University, IIT-D from receiving foreign funds

Prominent academic institutions like JNU, Delhi University, IIT Delhi, ICAR besides Supreme Court Bar Association are among several hundred organisations barred by the Centre from receiving foreign funds.

The registration of these institutions under the Foreign Contribution Regulation Act, 2010 (FCRA) has been cancelled by the Union Home Ministry as these have failed to file their annual returns for five consecutive years.

No organisation is allowed to receive funds from abroad unless it is registered under the FCRA. It is mandatory under the law for such organisations to submit income and expenditure statement to the government annually else their registration is cancelled.

Among the institutions whose FCRA licence have been cancelled include Jawaharlal Nehru University, University Of Delhi, Indira Gandhi National Open University, Indian Institute Of Technology, Delhi, Panjab University, Indian Council Of Agricultural Research, Gargi College, Delhi and Lady Irwin College, Delhi, according to the documents accessed by PTI.
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ECB monetary policy could temporarily ease inequality in Europe

The European Central Bank's ultra-easy monetary policy may actually reduce income inequality in Europe, ECB Vice President Vitor Constancio said on Tuesday, rejecting the argument that asset buys disproportionately benefit the wealthy.

Constancio said the ECB's stimulus measures lower unemployment and thus increase disposable income for Europe's poorest, compressing inequality, at least in the short term.

"This result confirms that, from the distributional perspective, the main impact of expansionary monetary policies is on the reduction of unemployment with positive effects on the reduction of inequality," Constancio said in Lisbon.

"(Monetary policy) measures can improve their welfare and contribute toward reducing income disparities, at least in the short-term."

But he added that such steps are likely to be temporary with the "hollowing out of the middle class" and the increasing polarisation of incomes likely continuing over the longer term.
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Trump owes lenders at least $315 mn, discloses latest financial report

US President Donald Trump has reported hundreds of millions of dollars in income in a financial disclosure form, the media reported.

The numbers were reported in a 98-page disclosure form signed by Trump this week and made public by the Office of Government Ethics late Friday. The report covers January 2016 through April 15, 2017, reports CNN.

Trump reported $37.2 million in income in the past year from Mar-a-Lago, the private Florida resort where the President hosted his Chinese counterpart Xi Jinping. The club has doubled its membership fee in the past year.

The Mar-a-Lago income figure was $7.4 million higher than on his previous financial disclosure filing, in May 2016.

At his golf courses alone, Trump reported $288 million in income which includes $19.8 million from his club in Bedminster, New Jersey, where he has spent some weekends as President.

He also reported $19.7 million in income through mid-April at his luxury Washington hotel that opened last September, reports CNN.

Up to $7 million was reported in book royalties, including $1 million to $5 million from his book "Great Again: How to Fix Our Crippled America".

Nearly $11 million came from the Miss Universe pageant and an $84,000 pension from the Screen Actors Guild.

Trump brought in approximately $600 million to $650 million in employment assets and income.

However, the documents have it impossible to calculate precise totals, according to the Office of Government Ethics.
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Idea Cellular slips into red with Q3 net loss of Rs 384 cr

Latest News - Telecom operator Idea Cellular today logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio's free voice and data promotions.

Total income also has decreased to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year, as per a BSE filing.

"The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice and mobile data promotions by the new entrant in the sector," Idea Cellular said in a statement.

Consequently, revenue KPIs (key performance indicators) and financial parameters for (Read More)

Your assets not hidden from our gaze: I-T dept tells black money holders

Latest News - Warning black money holders that their undisclosed assets are "not hidden" from its gaze, the Income Tax department Sunday advised them to avail the ongoing one-time disclosure window--PMGKY-- to come clean on their stashed funds.

In advertisements released in leading national dailies, the department also published the salient features of the Pradhan Mantri Garib Kalyan Yojna (PMGKY), 2016 which was announced by the government post demonetisation in November last year.

"Your undisclosed accounts or cash deposits are not hidden from us.

"Helping the less fortunate can help you. Invest your undisclosed income in the (Read More)