From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
Outlining the Budget estimates for the coming year, the Railway Minister Suresh Prabhu put the plan size at Rs 1.21 lakh crore.
The revised estimated expenditure for FY20 has been pegged at Rs 26.99 lakh crore and receipts at Rs 19.32 lakh crore, she said.
The Budget announcement of taxing 'virtual digital assets' or crypto currencies will help the income-tax department measure the "depth" of this trade in the country, know the investors and the nature of their investments and it does not "attach any legality" to these transactions, Central Board of Direct Taxes chairman J B Mohapatra said.
'I knew there was a huge business opportunity, but it was Dr Kalam who made me jump into it as an entrepreneur.'
Prime Minister Modi will hold bilateral meetings with President Paul Kagame, delegation-level talks and meetings with the business and the Indian communities, a statement from the Prime Minister's Office said.
In a festival gift to borrowers, the finance ministry on Wednesday approved guidelines for a scheme for grant of ex-gratia payment of the difference between compound interest and simple interest for six months of loans up to Rs 2 crore.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
A new passenger train connecting Dhaka and New Jalpaiguri on the Indian side was inaugurated jointly by Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina via a video conference.
Bankers say outward remittances is confusing but can still be attributed to perception of stability in Indian economy.
Triumphalism, premature declaration of victory meant no one checked if India had enough vaccines, oxygen, remdesivir, bringing us back to a crisis where we need foreign aid after four decades, asserts Shekhar Gupta.
The man with the golden arm could surpass some, if not all, top cricketers -- the demigods who stand well above athletes from other disciplines in India
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
'Modi warned China, therefore they have come to the talks.' 'Nothing will come out of these talks.'
Nepali labourers are not only the backbone of the state's apple economy but also part of the highly grounded manpower in the orchards, setting an example for other states struggling with the migrant labour question, reports Ashwani Sharma.
Sonia called for cancelling all public gatherings and poll rallies in view of the rising number of coronavirus cases.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
Former FIFA president Sepp Blatter lost his appeal against a six-year ban for ethics violations, imposed amid the biggest corruption scandal to shake the world soccer body, the Court of Arbitration for Sport said.
Bharti Airtel Chairman Sunil Bharti Mittal said India has lost one of the finest political leaders and a legal luminary.
A time has thus come when state encouragement for rural students led to empowerment of the socio-economically marginalised sections of the population. It included women. Today, with greater exposure and consequent enlightenment, it has gone beyond 'empowerment' to become 'entitlement', says N Sathiya Moorthy.
Gulf carrier Emirates on Wednesday announced special fares for honeymooners from India, offering an up to 20 per cent discount on both business and economy class travel, to select destinations, including London and Paris.
'It is never a good idea to let the broad population determine policy that is the domain of experts and specialists,' notes Aakar Patel.
'This pandemic has given him a new platform to perform,' says a member of the government. 'He should feel lucky that he has got an opportunity now to demonstrate to the world his original talent.' 'He needs a visionary script to perform.' Sheela Bhatt reports on the politics of the pandemic.
The country's first point-to-point, non-stop train, Duronto Express was flagged off from Sealdah station on Friday by Railway Minister Mamata Banerjee as a 'Durga puja' gift to the people.
India this year will emerge as the world's seventh largest economy, up from the 12 th position in 2008.
The country's first point-to-point, non-stop train, Duronto express was on Friday flagged off from Sealdah station by Railway Minister Mamata Banerjee as a 'Durga puja' gift to the people.
'Imran Khan hopes to fulfill the dreams of the founders of of Pakistan in establishing an Islamic Welfare State.' 'The grave situation of the economy makes realisation of this dream very difficult,' points out Colonel R N Ghosh Dastidar (retd).
'The picture only looks worse from where Bajwa sits.' 'He sees a domineering India to the east, an unravelling Afghanistan and a complex Iran to the west, an overbearing China on the north and a US which is no longer an ally,' observes Shekhar Gupta.
From India's fight against COVID-19 to China face-off, Kovind spoke on several issues during the televised address.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously Sebi and the RBI with carve-outs for IRDAI or possibly PFRDA. But this could change soon with the International Financial Services Centres Authority, observes Subhomoy Bhattacharjee.
The government had on Tuesday pegged GDP growth at a higher-than-expected 7.1 per cent for 2016-17 despite the cash blues.
'What accounts for the huge difference in death tolls between the most advanced countries and the relatively poorer countries?' mulls Virendra Kapoor.
Great investors like Warren Buffett and Peter Lynch were big buyers when stocks got cheap. You should be too.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Indian and global carriers are offering limited period discounted fares to attract flyers from New Delhi on the occasion of the 68th Independence Day.
Digital transaction players are hurriedly drawing up a memorandum to be taken to the central bank in hope of having a few of the guidelines -- such as full Know Your Customer (KYC) compliance in 12 months -- overturned, reports Karan Choudhury
'We are not going to be threatened by China neither are we going to threaten China.'
All that India must aim for is to match China's military prowess adjusted to equal Beijing's India-specific military capability, argues Vivek Gumaste.
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