The searches are in connection with alleged violation of foreign direct investment norms that is linked to an earlier case of revocation of Foreign Contribution (Regulation) Act licence of the NGO by the Union home ministry in 2010, the ED said.
To provide exporters/importers greater flexibility in risk management, RBI enhanced the limit available to exporters to 50 per cent
Forex dealers said dollar selling by exporters and a higher opening in the equity market also supported the rupee.
Rupee recovered sharply by 65 paise against the dollar in early trade on Monday on selling of American currency by banks amid expectations that Reserve Bank may announce steps to boost the local unit.
'The market won't wait for earnings to recover.'
Niyo is also offering bonuses and ESOPs, taking the total stock grants to over Rs 100 crore for all eligible employees.
It is the rupee's biggest single-day gain this year.
Dollar gains against other currencies overseas also put pressure on the Indian rupee.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
Encouraged by foreign exchange reserves touching record levels, the Reserve Bank on Tuesday doubled the annual overseas investment ceiling for individuals to $2,50,000.
Over the last few days, as the fortunes of Thomas Cook Plc took a wrong turn, the Indian entity scrambled to distance itself from its erstwhile parent. Experts have said that the travel firm must not change its brand name.
The bank, which functions from 9 in the morning to 9 in the night, has received tremendous response from the residents.
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.
Due to tax associations with the fiscal-ending, April is a month of SIP renewal. So, the April numbers will be important and may perhaps, mark a change in retail attitude.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
From liquidity, monetary policy operations to financial inclusion, know about RBI monetary policy
For investor in overseas mutual funds, a falling currency means higher profits.
Corporates' forex borrowings have grown at a CAGR of 15.6% since 2008.
The ED started probing Modi in 2009.
After a day's respite, the rupee on Wednesday fell by 29 paise, its biggest single day fall in a week, to end at 56.73 today due to heavy dollar demand from importers amid renewed concerns over withdrawal of US monetary stimulus.
Investors, including large corporations, view them as a potential hedge against uncertainty, and mainstream investment banks too are jumping into the game.
NGO rebuts Enforcement Directorate's charges.
The dollar was weak against major world currencies.
'Trading is about psychology; 75% of it is about keeping your emotions in check.'
India's reserves have been skyrocketing, reaching $ 260 billion as of end October 2007. This makes India the fifth largest holder of reserves in the world. Without the sustained appreciation of the rupee, the buildup of reserves would have been even larger.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
.jpg)
The country has enough forex reserves to meet the demand.
While Hyundai Motor India reported a marginal growth, Toyota Kirloskar Motor witnessed a dip in sales last month.
The rupee closed at Rs 66.21 in its last trading session.
Financial shares were the top losers.
Aircel executives said the company could offer value to big boys like Airtel or Jio as a low-end mobile services brand
However, strong rupee, concerns over production at home may spoil the party
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
One should appreciate the sagacity and audacity of JRD and Nani Palkhivala in founding TCS on April 1, 1968. At that time there was no Microsoft or Intel, SAP or Accenture, much less Google.
They needed a person who could build and execute their vision: A frontiersman; a problem solver and an institution builder. It was their and India's good fortune that Faqir Chand Kohli more than measured up to their requirements and indeed laid the foundation to take TCS to unimaginable heights and to the giant success that it is today. Shivanand Kanavi salutes the incomparable F C Kohli, who passed into the ages last week.
Remittances by artists and for advertisements, royalty payments, purchase of trademarks, commission to real estate agents and health insurance from abroad would no longer require RBI clearance.
The MHA said all the "glossy statements" about humanitarian work and speaking truth to power are nothing but a "ploy to divert attention" from their activities which were in clear contravention of laid down Indian laws.
'India's sizeable forex reserves should help stem a possible fall in our currency.'
Some leading Indian companies are likely to see their earnings declining if the Indian currency depreciates further, analysts and finance heads say.
Lauding India for its "comfortable" foreign exchange reserves, the International Monetary Fund said the country was not in need of any assistance from it.
