Tamil Nadu, Karnataka face-off in Ranji Trophy
Both Tamil Nadu and Karnataka look to find the first win of their respective Ranji Trophy campaigns, as the two play in Chennai later this week.
The two sides each had one match already on the schedule, but neither earned an outright win. Baroda earned a 237 and a 249 against. Karnataka, as that side only managed a 284 and a 102/1, but the match ended in a draw after 32 overs. This gave Baroda three points and left Karnataka with one.
Tamil Nadu registered a 67/3 against Odisha, but the match was called with no result due to rain. Each side earned a point.
The match between Karnataka and Tamil Nadu starts at 11 p.m. EST on Thursday, November 8.
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Ranji Trophy opens with Rajasthan title defense
The Board of Control for Cricket in India's latest edition of the Ranji Trophy will kick off on November 2, with a battle between Bengal and two-time defending champions Rajasthan.
Rajasthan dominated the trophy in recent years, as it won the past two finals. The first trophy occurred in the 2010-11 edition of the trophy, as the side overcame Tamil Nadu for the final victory in Chennai. The previous tournament won by Team Rajasthan was over Baroda.
While Rajasthan had most of the recent success, this was not always the case. Mumbai is the most successful side in the Trophy competition, and recent history helped add to the overall tally. In the 2006-07 tournament, Mumbai defeated Bengal in the final. After Delhi's win over Uttar Pradesh in the next edition of the trophy, Mumbai returned to its winning ways in 2008-09, with a win against Uttar Pradesh. The latest win for Mumbai occurred in 2009-10, when it defeated Kanataka in the final.
Setup of the Ranji Trophy
The competition's Super League is split into two groups with a total of 15 teams. There is also the Plate League, which consists of another 12 teams divided into two groups. While the first aspect of the tournament pits the teams in each group into a round-robin setup, this is only the beginning. The Knockout tournament takes six of the teams from the groups – the top three finishers in A and B – and the top two of each group in the Plate League. Once this is complete, there will be two play-in matches before a standard quarterfinals, semifinals and final.
While the tournament begins in early November, the group stage continues through early January. The remainder of January will be for the knockout stage, with the final ending the tournament from January 26 to 30.
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Officials dismiss suggestion of an impending tax on Indian remittances
As an Indian immigrant whose family still resides there, your ability to send money to India is likely a major aspect of your life, as it may be their primary form of income to use for daily expenses. That said, you were probably frustrated to hear the reports indicating that Indian officials were planning on taxing non-resident Indians for the remittances they sent home.
But according to multiple news reports, any suggestion that a tax will be imposed is inaccurate.
In recent days, rumors had been swirling that Indians who were working overseas would soon be issued a tax levy of nearly 12.40 percent when they transfer money abroad. The speculation took on a life of its own when it was reported that Indian officials were mulling whether or not they wanted to implement the tax soon or impose them at a later date.
These speculations came to a grinding halt, however, when India's prime minister, Manmohan Singh, was informed of them.
"Prime Minister [Singh] has dismissed reports that the government is planning to charge 12.36 per cent on all foreign remittances to India," said Oommen Chandy, Kerela chief minister, recently told reporters. "He has assured status quo on the service tax issue."
Reports indicate that officials within the Indian government had discussed the possibility of installing a tax on foreign remittances as a means of boosting India's economy. Experts, however, were quick to cite that the tax would likely do more harm than good and could wind up impacting millions of Indians working abroad.
Bikram Singh Majithia, affairs minister for non-resident Indians, told reporters that the move would send mixed signals to expatriates.
"On one hand, we are luring NRIs to invest in [the] country and become part of India's economic growth," said Majithia. "The service tax on remittances by them to their parent country would discourage them to help [the] country with their remittance."
According to World Bank data, India is the world's largest recipient of foreign remittances, as approximately $64 billion worth were sent last year alone.
Despite the considerable amount of revenue from Indians and other people who send money online, India's economy has yet to take off. The World Bank says that India's gross domestic product – which is the total value of goods and service produced in a given year – slowed.
World Bank experts say one of the reasons why India's economic is lagging largely relates to a lack of infrastructure, particularly road development. In addition, strict rules and regulations imposed by the government have discouraged private investment, preventing the country from obtaining some of the financial means to kickstart its economy.
More remittances allowed into India
There's some good news to report for people who routinely send money to India, as officials in the country are allowing more remittances in to help spur its economy.
According to Dow Jones, India's central bank – the Reserve Bank of India – recently more than doubled the number of remittances non-resident Indians can make to family in India in a given year, as the maximum number of permitted money transfers increased from 12 to 30.
Economists say that one of the reasons why the RBI decided to do this was to support the rupee, which has lost a considerable amount of value in recent months, down 10 percent when compared to the U.S. dollar, Dow Jones reports. In addition, since June 2011, the value of the rupee has diminished 20 percent.
The higher limit on number of transactions makes it easier to send money home to support your families in India
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Kolkata wins tight IPL final over Chennai to deny third straight title
The Indian Premier League season came to a close over the weekend, as Kolkata Knight Riders overcame a strong performance by Chennai Super Kings to deny the club a third consecutive championship, as well as bring the trophy to Kolkata for the first time.
Chennai went to bat first and put up an impressive 190/3, but it would not be enough. Kolkata was able to surpass Chennai's total with 19.4 overs, for a score of 192/5, shifting the title to them.
Chennai was led by Suresh Raina, who hit 73 runs from 38 balls to get to the impressive mark. However, despite stumbling to an early wicket, Kolkata charged back. Manvinder Bisla scored the most runs out of any player for the match, with a total of 89 runs. In addition, Jacques Kallis scored an additional 69 runs. Manoj Tiwary hit the final runs of the match, which was enough to overcome Chennai's early charge.
The loss ended Chennai's chance for three consecutive titles, as the club won against Royal Challengers Bangalore in 2011 and also defeated Mumbai Indians in 2010. In the league's short history, Kolkata only made it to the semifinals once – in 2011 – before getting this year's trophy.
Kolkata became the fourth team to win the IPL title in its five years of existence. Beyond Chennai's wins in the previous two years, Deccan defeated Royal Challengers in 2009, while Rajasthan Royals defeated Chennai in the inaugural season. For this season, beyond the two finalists, Delhi Daredevils and Mumbai will receive prize money for their third- and fourth-place finishes, respectively.
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Chennai, Kolkata to meet in surprising IPL final
The Indian Premier League has reached the final match, as Kolkata Knight Riders and Chennai Super Kings will face-off for the right to be called league champions. However, the road to get to this point wasn't easy.
Delhi Daredevils, the team that finished first during the regular season, seemed like a shoe-in for the final. But after two attempts, the team just was not able to get over the hump. In the first qualifier, Kolkata was able to get out to a strong lead, as the team posted a 162/4. Delhi was not able to overcome the second-placed side, as the Daredevils could only manage a 144/8.
The win put Kolkata into the final, and knocked Delhi to the second qualifier, to play the winner of the eliminator. In that match was Mumbai Indians and Chennai Super Kings, the third- and fourth-placed sides in the IPL this season. Luck remained on the side of Chennai, as it posted a 187/5, which was easily enough to hold off Mumbai's score of 149/9. Mumbai was subsequently knocked out of the competition, while Chennai was able to advance to the second qualifier against Delhi for a winner-take-all matchup.
The Super Kings started off the second qualifier with a bang. Chennai was able to manage a 222/5, which proved to be a massive obstacle for Delhi, and in order to keep up, the Daredevils would certainly need to live up to their name. However, it wasn't to be, as the attacking strategy proved to be their demise. After only 16.5 overs, Delhi managed a 136, and went out on wickets, still 86 runs behind.
This leaves Chennai and Kolkata to play for the right to be called IPL champion. The match will take place on Sunday May 27, at 10:30 ET (20:00 IST). There were only four points separating the two sides during the regular season, and Chennai's charge to the final may signal that this match could be a battle.
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Indian Premier League playoffs set
The wild and unpredictable season of the Indian Premier League took another surprising turn in the final matches, but the league's four best teams have been named, and the playoffs are all set.
Delhi Daredevils locked up the top spot in the IPL over the weekend, dumping Kings XI Punjab out of the playoff race in the process. The league leaders answered Kings XI's 141/8 with a strong 145/4 after 18.2 overs, ensuring Punjab it would not be able to battle for the league trophy.
Kolkata Knight Riders experienced a much easier time against Pune Warriors India, as it scored 136/4. This was far superior to PWI's 102/8, and the loss doomed the team to the bottom of the IPL for the 2012 campaign. This is due to Deccan Chargers' late charge as spoilers, as not only was the team able to climb out of the basement, but it was also able to do its part, as the team knocked two other sides out of the playoffs altogether.
In the first match, Deccan gave up a 126/8 for Rajasthan Royals, but answered back with an impressive 128/5 after only 18.4 overs, which was able to break the Chargers' lengthy winless streak. Deccan continued to thrive in its role of spoiler, as the team posted a 132/7, which was more than enough to hold off Royal Challengers Bangalore, as that side only managed a 123/9. The loss doomed Bangalore to watching the playoffs from home.
The final match of the season was for pride, as Mumbai Indians was already in the playoffs, and Rajasthan had its dreams dashed earlier in the weekend. However, Mumbai finished the season on a high note, as it scored a 163/0 after 18 overs, enough to cruise past Rajasthan's 162/6.
The playoffs will kick off this week, with Mumbai, Delhi, Kolkata and Chennai Super Kings all participating. The news likely came as a relief to Chennai, who needed help to get in, as it was the first team to finish all of its matches.
Delhi will open the playoffs up against Kolkata on Tuesday, while Mumbai will play Chennai in the Eliminator on Wednesday. While the winner of the first qualifier will advance to the final, the winner of the Eliminator must face-off against the loser of the first qualifier to decide the last spot in the final.
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Indian Premier League playoff picture clearing up
The Indian Premier League has reached its final stretch, and only now are fans beginning to get an idea of what the playoffs will look like.
This week's games helped clear that picture up, though seven teams still have mathematical hopes of getting in. Delhi Daredevils split its two matches this week, and it was good enough to secure a spot in the knockouts. The first match was a comfortable victory over Kings XI Punjab. Delhi responded to Kings XI's 136/8 by posting 140/5 after 19 overs. In the second match, Delhi was unable to come back by an impressive barrage from Royal Challengers Bangalore. A spectacular 215/1 was far too much for Delhi to handle, despite a respectable 194/9 in response.
Kings XI recovered in its second match of the week, as it defeated Chennai Super Kings with a 123/4 after only 16.3 overs. Chennai's 120/7 ended its season on a down note, and the team has to see if their results will be good enough to make the playoffs.
Kolkata Knight Riders won comfortably, as it scored 140/7 against Mumbai Indians. Mumbai earned 10 wickets and was only able to post a 108.
While both Deccan Chargers and Pune Warriors India are eliminated, almost every remaining team controls their own destiny to make the playoffs. Chennai currently sits in fourth, but has played all of its matches, which leaves the team in danger of being bumped out of the playoffs. Both Delhi and Kolkata have clinched playoff spots, so their final matches will only determine positioning.
Mumbai can secure a spot in the playoffs with a win against Rajasthan in the final match of the season. Royal Challengers, Rajasthan and Kings XI all have work to do to ensure further play after the season's end. It should be an exciting finish, however the season pans out.
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Group says more remittances to India are needed
While the global effects of the Great Recession have been retreating, many nations are still encountering financial issues. This is especially true in India, as the value of the rupee is depreciating, fewer people are investing and debt levels are rising.
But according to the Associated Chambers of Commerce and Industry of India, the nation's financial woes may be improved by encouraging Indian expatriates to increase their remittance flows to their native land.
Speaking on behalf of the consumer advocacy group, Assocham President Rajkumar Dhoot said the country's financial leaders should be actively urging Indian natives to send money home to their families, as the country's fiscal health depends on it.
Citing a recent survey, Dhoot says economists and bankers are in agreement that remittances from non-resident Indians need to pick up significantly to make any headway in fixing the country's bleak financial state. Assocham strongly recommends teams comprising of senior officials and bank executives be deployed throughout the world to wherever there are high concentrations of Indian expatriates. However, in order for them to invest in India, they need to be reminded of the benefits that may result.
"They must be given assurances, that given the global uncertainties, investing for them back home makes better business sense," said Dhoot. "The NRIs should invest in India not only because of the motherland connection but also because India has a market of 1.20 billion people which will continue to grow."
However, while this may may put a dent in India's debt crisis, Dhoot advised that more lasting solutions are necessary if the country is going to solve its money problems.
"We cannot afford the confidence to further decline," said Dhoot. "We need fast measures like somehow increasing the dollar inflows so that the pressure on the rupee is halted."
He added that thus far, NRI deposits average around $52 to $55 billion per year. To make headway, they ought to be around $75 to $80 billion.
Other recommendations noted by economists that could improve India's economy would be to develop different strategies that could increase consumer confidence and demand.
Indian Premier League playoff race still wide open
The playoffs for the Indian Premier League are fast approaching, and there is still everything to play for. Two of the league's nine clubs will not be participating in this year's postseason, but the remaining seven are separated by just four points.
Delhi Daredevils split its last two matches, but that was good enough to put the team back in the drivers seat with three matches remaining. Delhi posted a 193/1 against Deccan, which was more than enough to overwhelm the Chargers' 187/4. However, the team received a reality check against Chennai Super Kings. Delhi was held to a 114/5, which was easily overcome by Chennai's 115/1 after only 15.2 overs.
The Super Kings kept the late-season run going, as the team scored 127/6, which was enough to defeat Rajasthan Royals' 126/6 after 18.1 overs. Chennai again won against Kolkata Knight Riders, posting a score of 160/5, which was just enough to squeak by Kolkata's 158/6.
Mumbai Indians and Royal Challengers Bangalore each won once in their two recent matchups. In the first fixture, Mumbai was beaten after 18 overs, as its 141/6 was not enough to hold off Bangalore's powerful bats. However, the team got its revenge in the second match, as its 173/5 was enough to get past Royal Challengers' score of 171/6.
Currently, Delhi and Mumbai are level on 18 points, with the former leading on net run rate. Kolkata and Chennai currently hold the final two playoff spots with 17 points apiece. However, Royal Challengers is within striking distance, as it is two points adrift with two matches to go. Both Rajasthan and Kings XI Punjab have everything still to play for, as both teams have 14 points. Both Deccan and PWI are mathematically eliminated from making the playoffs, as both have experienced a dreadful run of form.
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