Swiss authorities have always maintained that assets held by Indian residents in Switzerland cannot be considered as 'black money' and they actively support India in its fight against tax fraud and evasion.
'The Israeli government is saying, "OK, leave northern Gaza, because we're going to fight Hamas there".' 'But Hamas is not stupid. They are going to put militants in southern Gaza too. And then what's Israel going to do?' 'At some point are they going to say, 'Leave southern Gaza too because we want to fight Hamas there? Go across the border to Egypt"'? 'That's what people are worried about. Because they fear that once they cross the border into Egypt there will be no coming back.'
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The rupee weakened by 14 paise to close at a new lifetime low of 79.59 against the US dollar on Tuesday as a strong greenback overseas and persistent foreign fund outflows continued to weigh on investor sentiment. This comes a day after the RBI announced measures for international trade settlement in rupees. At the interbank forex market, the local unit opened weak at 79.55 against the greenback and witnessed an intra-day high of 79.53 and a low of 79.66.
China has launched a host of reforms to halt the slow down of the economy, which is hovering around seven per cent with forecasts that it would dip down further.
'The purported claim that Israel can defeat Hamas and everything 'would go back to normal' is completely absurd.'
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
The RBI has this year cut interest rates by 110 basis points in four instalments but banks have passed only a part of it to borrowers. Before the last reduction earlier this month of 35 basis points, the bank on an average had passed only 29 basis points out of 75 basis points cut affected during 2019.
The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday. The forex reserves were at $576.98 billion at end-March 2021. The Reserve Bank of India (RBI) publishes half-yearly reports on management of foreign exchange reserves.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
Amid slowdown blues, the government has unveiled a raft of measures over the past few months aimed at improving liquidity in the system, moderating interest rates as well as credit growth apart from addressing stress in the NBFC sector.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Of the 2,562 customer complaints received between January 2020 and March 2021, a majority relate to illegal apps. At least two dozen suicide cases have been reported, perpetrated by the harassment by loan app operators, points out Tamal Bandyopadhyay.
The 'Rating Level 4' means that the financial market regulators have all regulatory measures "fully in force"
Out of 120 members of the Knesset (Israeli parliament), Netanyahu has the support of 64 members
The Reserve Bank has restricted American Express Banking Corp and Diners Club International Ltd from on-boarding new domestic customers onto their card networks from May 1 for violating data storage norms. The order will not impact the existing customers of these two entities, the central bank said in a statement on Friday.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
'Hamas is going to be prepared. There will be booby traps and tunnels; it's going to be door to door fighting.'
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
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.
'Israel has received an extremely hard and rude reminder that it cannot go ahead and talk of normalisation of relations with other Arab countries without addressing the issues pertaining to Palestine.'
While there are no specific data for money that could be of Indians, this includes outflows to the tune of 100 billion Swiss francs that are related to fine payments in the context of declaration of untaxed money, as per a new study by PwC.
The regulator in its notice alleged violations of the code of conduct because Chanda Kochhar reportedly had not disclosed the conflict of interest arising out of business dealings among ICICI Bank, Videocon and NuPower Renewables, led by her husband, Deepak Kochhar.
China on Tuesday announced that its Defence Minister General Li Shangfu will visit India this week to attend the meeting of SCO defence ministers from April 27 during which he is expected to hold talks with his Indian counterpart Rajnath Singh on ending the prolonged eastern Ladakh standoff which has severely strained bilateral ties.
RTGS is used to transfer large sums, the minimum amount being Rs 2 lakh. This mode is used primarily to facilitate trade and market transactions. The primary beneficiary would be the capital markets.
The regulator said that it is vested within its purview to regulate the bank account for payment systems and the settlement systems are finally posted in the books of account of banks with the RBI to attain settlement finality.
Total scam in collusion with middlemen is estimated at over Rs 700 crore. Probe is on in 10 more cases.
The Pakistani delegation, in its meetings with World Bank officials, insisted on early appointment of the judges and setting up the court.
On Friday, Putin formally announced the annexation of four regions -- Donetsk, Luhansk, Kherson and Zaporizhia -- and claimed that "this is the will of millions of people".
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
The Reserve Bank is working with the government to thrash out a payment settlement solution for Indo-Russian trade, which is hit by the economic sanctions imposed on Moscow after it invaded Ukraine, but asserted that any such solution will be 'sensitive' to the prevailing economic blockade, the central bank said. RBI Governor Shaktikanta Das was quick to add that it is a matter that the government has to deal with first, and as far as the central bank is concerned, obviously, we will not do anything which goes against the sanctions. RBI Deputy Governor T Rabi Sankar said since the Ukraine war has disrupted trade and payments, we are discussing with all stakeholders, and at the same time, we are sensitive to the economic sanctions.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
The amounts were transferred from HDFC Bank to BoB.
'The Reserve Bank's independence has remained a work in progress, an enduring challenge that the nation has been grappling with on an ongoing basis,' says RBI Deputy Governor Dr Viral Acharya.
The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations.
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
The discussions took place on the sidelines of the G20 Foreign Ministers' Meeting.
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
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