Given the macro setting, the outlook remains positive for each of the four key parameters - inflation, current account deficit, fiscal deficit and currency stability, says Rahul Bhushkute.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
The steep decline in commodity prices has reversed.
Non-resident Indians will get more interest rates from ICICI Bank for their fixed rupee deposits as well as those denominated in foreign currencies, with the bank hiking interest rates on NRE fixed deposits
'We will supply dollars in case of extreme volatility.'
As protectionism grows from the United States to Australia, Sanjay Kumar Singh draws up a comprehensive financial checklist for those shifting to India.
If any foreign account holder violates Indian laws, tax authorities can enforce repatriation of funds.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
The Street had factored in the NDA win, owing to which the appreciation in the rupee is expected to be limited
The Budget has changed the rules for Indian citizens and persons of Indian origin visiting India. Instead of 182 days, the number of days has been reduced to 120. You will be treated as a resident of India for tax purposes if you stay in the country for more than 120 days in a financial year and 365 days in the past four years. One consequence of the change will be that people of Indian origin who reside outside India will be able to spend a smaller number of days in the country if they wish to keep their non-resident status intact, points out Sanjay Kumar Singh.
Punjab National Bank on Tuesday slashed interest rates by 15-30 basis points on non-resident rupee deposits and foreign currency bank deposit schemes.
Indian rupee has declined by about 25 per cent since December 31, 2014, and is nearing 80 against the dollar, the Lok Sabha was informed on Monday. The value of the rupee declined from 63.33 against a dollar on December 31, 2014, to 79.41 on July 11, 2022, Finance Minister Nirmala Sitharaman said in a reply quoting RBI data. The exchange rate of the Indian Rupee against the dollar was Rs 78.94 per dollar as of June 30, 2022, Finance Minister Nirmala Sitharaman said in a written reply.
CEOs of leading banks say third straight rate hike by RBI inevitable, though not desirable.
Given the concerns around trade wars that threaten to jeopardise global capital flows as well, attracting foreign capital needs to be a policy priority, says Neelkanth Mishra.
The share of non-resident Indians (NRIs) and overseas investors in Indian mutual funds has been declining over time, despite adding half-a-trillion rupees to holdings over the last five years. Mutual fund holdings for the segment went up from Rs 0.95 trillion as of December 2018 to Rs 1.54 trillion as of December 2022, shows Business Standard analysis of data from the industry body Association of Mutual Funds in India (Amfi). Their share in overall mutual fund assets has fallen from 4.2 per cent to 3.9 per cent during the same period.
With the government clearing the decks for direct listing at the Gujarat International Finance Tec-City (GIFT City) International Financial Services Centre (IFSC), issuers will wait for the ecosystem to develop further before firming up their listing plans. In the meantime, most companies may continue to prefer listing in the onshore market, even as the new avenue provides key benefits such as tax waivers and reduced foreign exchange risk. Sources said that a few key things need to be ironed out further.
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.
Banks want lower provisioning burden on recast debt, interest on cash reserve ratio deposits.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
India received $70 billion in remittances during 2014.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
The Budget has to provide for capex on roads, railways, defence and other infrastructure sectors.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
The famous Shri Saibaba Sansthan Trust has witnessed a steady rise in its fortunes in the form of donations from devotees over the last few years, a senior official of the organisation said on Friday.
Rupee, bonds may see knee-jerk reaction, as Urjit Patel is considered an inflation warrior
The gain in the value of the rupee has been beneficial to the foreign investor. If you invest in the assets of a currency that appreciates (as the rupee has done) then you benefit.
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
The proposed Rs 10,000 crore (Rs 100 billion) of bond purchase would be done on Monday.
Loan defaults and restructuring to limit profits.
Remittances by non-resident Indians (NRIs) saw a 27 per cent jump at $ 6.5 billion (Rs 39,991.9 crore in present valuations) between January and September this year, as against 7 per cent growth during the same period last year.
There's surplus liquidity and RBI, with plentiful forex reserves, is ready to pump whatever extra is needed
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
India's sovereign debt is much lower than that of other emerging economies like Argentina, Indonesia, Mexico, the Philippines, and South Africa.
Just three years ago, at the end of March 2011, NRI deposits were only $52 billion, half of what they are today.
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts.
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation
RBI is expected to discuss about the impact of GST in its monetary policy.
