The apex court also postponed the date of hearing to July 19, 2011, from the previously scheduled hearing on February 5.
The Reserve Bank on Thursday instructed banks and other financial institutions to ensure cross-border as well as domestic wire transfers contain complete information about the originator and beneficiary. The central bank has updated instructions in the Master Direction on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF). "All cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information...," as per the updated instructions in the Master Direction.
Exchange rates play an important factor in international fund transfers
Ludhiana Police have busted a large cyber fraud racket, arresting 132 people involved in running fake call centres that targeted foreign nationals through various online scams.
Maamouls are classic Middle Eastern cookies that have a festive appeal even before you take a bite.
The cost of remittances across various modes has come down significantly.
Sending money overseas instantly could soon become a reality with the Reserve Bank of India considering proposals to allow non-banking entities like online money transfer portals to undertake wire transfers for outward remittances from India.At the moment the facility is limited to inward remittances, while only banks are permitted to carry out outward remittance orders.
Kotak Mahindra Bank on Monday launched its online remittance service - FundstoHome - for non-resident Indians.
The CBI has booked five people for allegedly posing as Microsoft tech support and siphoning off USD 400,000 (Rs 3.37 crore as per current rates) retirement funds of a US citizen, officials said on Friday.
Overseas transactions were used by the September 11 hijackers to wire more than $ 130,000, officials said.
Fugitive underworld don Dawood Ibrahim is still allegedly laundering blood money through the Bank of Baroda's branch in the tax havens in Nassau, Bahamas.
'My job is to provide people with a bouquet of options they can choose from.'
Some private banks offer easier platform to transfer money abroad, like ICICI's Money2World.
Fitch Ratings has removed energy infrastructure company Adani Energy Solutions Ltd (AESL) from its 'Ratings Watch Negative' list, the first upgrade by an international ratings agency since the US indictment. Fitch affirmed AESL long-term foreign and local-currency issuer default ratings (IDRs) at 'BBB-'.
Move comes after the country's monetary authority tightened credit norms
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
A CBTR pertains to transfer of funds through various channels abroad.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
Wisconsin-based Dr Arvind Ahuja, a board certified neurosurgeon, wire transferred and maintained millions of dollars in bank accounts in India and the Bailiwick of Jersey at The Hongkong and Shanghai Banking Corporation Ltd, according to the indictment.
This is the first payment Indian refiners have made to Iran since February.
During the trip, check your bank account and credit card statements regularly for unauthorised transactions.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
A second vote will be held on Wednesday, on measures including justice and banking reforms, when a similar outcome is expected.
Puri gave up the comforts of Citibank to set up a new-age bank from a rat-infested room in the Kamala Mills Compound in Worli, Mumbai and build a marquee brand. A look at his 26-year stint as HDFC Bank's boss.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Their reopening followed Prime Minister Alexis Tsipras' reluctant acceptance of a tough package of bailout demands from European partners
Pasha, who had earlier received training in making bombs in Bangladesh, provided training to the Mangaluru blast case accused during their stay in a jail in Karnataka.
Payments made by any person of an amount aggregating to Rs 100,000 or more in cash towards credit card dues will have to be reported.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Case in the US relates to an Airbus Corporate Jet
The Indian-American community in the New York-New Jersey-Connecticut tristate area is being targeted by telephone fraudsters.
A global group of government anti-money-laundering agencies said that financial institutions have not done enough to police suspicious financial activity by officials at soccer's global governing body FIFA.
Park is charged with one count of conspiracy to commit computer fraud and abuse and one count of conspiracy to commit wire fraud.
'There is a Jack Warner or two in every Caribbean parliament today.'
The AIADMK's staying power is not in question, but it has to regain the winning streak. That will require its leaders and leadership to re-wire themselves, to be able to re-think situations in ways different from what they had been accustomed to, suggests Sathiya Moorthy.
In the Anti Money Laundering (AML) Basel Index 2013 India has been ranked 93rd and 70th in 2012 and 2013 respectively out of 140 countries.
A world anti-money laundering body has deleted all trace of an alert it issued last week warning that financial institutions had not done enough to police suspicious financial activity by officials at FIFA.
More people will be literate, on the Internet, linked to the national identification scheme and likely to receive electricity, especially from alternative-energy sources.
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
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