'We are receiving a steady stream of interest from well-established foreign universities.'
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
14 bills were passed by the Lower House while 15 bills were passed by Rajya Sabha.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
The new exchange will also help global companies raise finance from other overseas investors.
Alternative Investment Fund refers to any fund established or incorporated in India which is a privately pooled investment vehicle that collects funds from sophisticated investors, whether Indian or foreign.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
As per the Budget proposals, migration of a fund to a fund in IFSC will not be regarded as transfer if done on or before March 31, 2023. Transfer of units will be tax neutral. Grandfathered investments of the fund to continue to enjoy capital gains exemption on future sale by the IFSC fund. There is no impact on carry forward of losses for the investee company.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
INX will trade initially in equity derivatives, currency derivatives, commodity derivatives including index and stocks
Pranay Bhatia offers insights on some key issues from Nirmala Sitharaman's maiden Budget.
If Uddhav continues in this mode as a serious-minded, capable leader with his hands firmly on the steering wheel, and succeeds in enabling Maharashtra weather the current storm, there is every possibility of his emergence as a leader who will be seen as someone who is ready to play a larger role, observes Amulya Ganguli.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Five key capital market announcements from the previous Budget.
The government is keeping a "close watch" on the developments relating to the Tata-Mistry case, but does not want to "interfere" at present as it was an "internal matter" of a private group, Ministry of State for Corporate Affairs Arjun Ram Meghwal has said.
Union Finance Minister Arun Jaitley on Friday said it should be mandatory for those filing public interest litigations against the government on development projects to declare their source of funds, days after Prime Minister Narendra Modi cautioned the judiciary against being influenced by "five-star activists".
The current Chairman UK Sinha's term comes to an end in February next year.
Work on projects worth Rs 1,000 cr in full swing: Gift City
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Finance Minister Arun Jaitley on Monday said state governments should emulate the concept of 'Gujarat International Finance Tec-City'
Trading in other derivative products in currency, commodities expected to begin soon.
Sebi has approved the norms for financial institutions setting up shop at GIF City in Ahmedabad.
New exchange will provide an electronic platform for trading.
Everything you wanted to know about the Mumbai-Ahmedabad bullet train but didn't know who to ask.
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Sebi keen to attract larger number of retail investors
Overseas bourses may take similar action and stop providing data on foreign indices and commodities traded in India, Ashish Chauhan, chief executive officer, BSE said.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
The industry status will help the sector access bank lending at average interest rates
Bombay or Mumbai? Was a senior minister miffed by a breach of protocol? Why did the police commissioner not find a place on the dais? Vignettes from 'Make in Mumbai.'
Finance Minister Arun Jaitley said Sebi would develop new products in the commodity derivatives space apart from taking steps to deepen the corporate bond market.
The markets regulator made it easier for banks to acquire control in listed companies.
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
Empowered in the Modi government, junior ministers have enough on their plate.
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