The BCCI and its officials did not open a separate bank account in South Africa
Earlier, the Reserve Bank of India was the approving authority.
Government is considering allowing authorised dealers to issue guarantees to overseas funds which could be used even for purchase of indigenous machinery for the textiles sector.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
Finance Minister Jaswant Singh said on Saturday that he has approved the draft Cabinet note for amending Foreign Exchange Management Act.\n\n\n\n
Gopalakrishna's name was in the reckoning for Deputy Governor in place of Anand Sinha who retired in January.
A bench of Justices Arun Mishra and U U Lalit also cancelled the leases of Amrapali's properties granted by the Noida and Greater Noida authorities and directed the Enforcement Directorate to investigate alleged money laundering by CMD Anil Sharma and other directors and senior officials of the group.
The Enforcement Directorate on Wednesday said it has arrested two persons in Chennai for alleged illegal exchange of Rs 6 crore in old notes "in connivance with" sand-mining baron J Sekhar Reddy as part of its money laundering probe post demonetisation.
The Enforcement Directorate has stepped up its probe into a foreign exchange violation case against former Indian Premier League boss Lalit Modi.
The Bombay High Court, on Tuesday, said the Indian Premier League has made people familiar with phrases like "betting and fixing" and in view of the alleged violations of foreign exchange rules it is time to see if the tournament is in interest of the game of cricket.
The Enforcement Directorate has issued summons to former Indian Premier League boss Lalit Modi in connection with an alleged money-laundering case registered against him in Mumbai.
The Gujarat government, which sought a probe into the role of activist Teesta Setalvad's NGO, is now targeting her main funding source, the US-based NGO, Ford Foundation.
If the account in a foreign bank has income undisclosed to income tax authorities, or has funds from illegal sources, the account can be declared illegal, under the Fema.
Sahara made an overseas direct investment against RBI rules.
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
The notice, under provisions of the Foreign Exchange Management Act, has been issued by the Mumbai office of the agency after its probe found that the group has 'contravened' the law as it failed to comply with Reserve Bank of India norms by not declaring funds generated by some wholly owned subsidiaries the group had raised overseas few years back, according to ED sources.
Radha Timblo, a Goa-based miner whose name figures in the black money list submitted in the Supreme Court, on Monday said she needs to study the government's affidavit before commenting on the issue.
The finance ministry is seeking to speed up deals with outside investors.
DRs have shares as an underlying asset and are typically issued by a bank, known as the depository bank, on behalf of a company.
The Gujarat International Finance Tech-City, or Gift City, is expected to be spread over 886 acres and will have a special economic zone on 261 acres.
Some radio taxi operators are avoiding service tax payments, forcing the revenue department to take necessary steps, including coercive measures, to recover the dues, Finance Minister Arun Jaitley said.
According to sources, the directorate has sent a letter to Flipkart on the basis of complaints received after the Big Billion Day sale on October 6.
The ED is in the process of serving final penalty notices in 16 alleged forex violation cases amounting to an estimated Rs 1,700 crore against former IPL Chairman Lalit Modi and others as part of its wide-ranging probe in the alleged financial irregularities in various editions of the T-20 cricket extravaganza.
The crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
The Directorate of Enforcement is investigating Ringing Bells, the company which has launched smartphone for Rs 251, for alleged contravention of FEMA.
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
Neither the foreign exchange, nor the gold, and certainly not the revaluation reserve should be available for spending by anyone. he revaluation account is simply not money. It is simply an accounting entry, says Rashmin C Sanghvi.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
The move may release funds locked in government securities and add to liquidity. With inflation expectations lowered, this should not impact bond sentiment in the short run
The ED started probing Modi in 2009.
Crypto-assets are essential to blockchain technology, which has the potential to be one of the next major growth drivers for the software ecosystem in India. A prohibition would nip this opportunity in the bud, say Vaibhav Parikh and Jaideep Reddy.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
ED failed to obtain evidence with regard to financial links about the purchase of an island in Scotland.
In order to attract inflow of foreign currency, the Reserve Bank on Tuesday simplified rules governing investments by non-resident Indians (NRIs) portfolio investments like equities and debt.
This warrant will be sent to the ministry of external affairs which in turn will be sending it to the United Kingdom
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