Identity of 427 account holders abroad has been established and 250 of them have admitted to having accounts, Finance Minister Arun Jaitley revealed on Wednesday.
US crude was down 25 cents at $52.08.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
'The difference between black money in India and the black money out of India is, in India, it is tax evaded money and Indian money outside India is not only tax evaded money, but money which has been taken out of India's capital resources needed for India. So it is not only tax evasion, but treason too.'
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
Indian business, on quite a different trajectory from its global counterpart, remains relatively insulated from any kind of backlash.
A new framework has been put in place for automatic exchange of information between Switzerland and India to help check the black money menace with effect from January 1, 2018. The funds held by Indians through fiduciaries alone used to be in billions till 2007 but began falling after that amid fears of regulatory crackdown. It is now at second-lowest level in 20 years.
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As many as nine respondents said RBI would hold the repo rate at 8% till March-end, 2015
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Whether it was the Bofors gun in 1986 or Italian helicopters in 2012, a leak or disclosure at the source overseas is like dynamite, and usually impossible to refute. They acquire a life of their own in the hands of the media, says T N Ninan.
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
Sending money to families in India will get more expensive
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
Mop-up misses target as big FIIs skip issue.
Markets hope the Budget will steer spending towards infrastructure.
The 30-share Sensex is down 359 points at 26,378 and the Nifty has dropped 78 points to trade at 7,883
Sensex closed 63.82 points higher at 26,851.05 in Muhurat trading; Nifty rises 18.65 points to end at 8,014.55.
Many Indian companies provide outsourcing services to various American entities, including large banks and financial institutions.
A leading Chinese bank may have been used by Palestinian terrorist group Hamas and its allies to launder money for their global operations,according to Israeli intelligence reports.
The SIT on black money has widened its probe.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
RBI Governor has been under pressure from Finance Ministry.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Markets in countries whose economic fortunes were closely linked to China's growth tumbled.
The annual talk-fest of rich and powerful from across the world in snow-laden Alpine resort town of Davos will be attended by nearly 40 heads of government among more than 2,500 global leaders from over 100 countries.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
Markets closed the day in green on favourable domestic factors,
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
'India's sizeable forex reserves should help stem a possible fall in our currency.'
A gradual weakening of the rupee, however, may add to inflationary pressures.
But lower growth numbers in the quarters to come may not mean renewed weakness in the economy at the ground level, says Pranjul Bhandari.
Economist Arvind Panagariya has also argued for loosening deficit targets to boost capital spending
It is strange that the wealthy evade taxes even though the marginal utility of the money saved amounts to little and tax rates in countries, including India, have dropped
India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms.
In his massive election rallies, Prime Minister Narendra Modi often caught voters fancy promising that each individual would get Rs 15-20 lakh in his bank account if he came to power.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
The broader markets, however, outperformed their larger peers.
For now, the upside appears to offset damage done to exports by weaker global demand.
May touch 64/$ due to foreign flows slowing down
