'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.'
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
Some type of global shock adds to the allure of the dollar.
In the past, several other Indian nationals have been named in such notifications after the Swiss FTA was approached by Indian authorities for information about those people with regard to the pending tax-related probes against them.
A gradual weakening of the rupee, however, may add to inflationary pressures.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
The muted CPI inflation print at 5% earlier this week, followed by a similar WPI number released Wednesday, seems to have spurred India's central bank into action, is how the economists are reading into Reserve Bank of India governor Raghuram Rajan's 25 basis point cut in repo rate.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
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.
Analystsare showing optimism in Sensex EPS growth after double digit growth in the second quarter of current year.
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
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
The Budget loosened the reins on public spending to drive growth.
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 Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
Pune saw the fastest growth in terms of number of super-rich people.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
This was the near-unanimous replies of 10 market participants.
Experts say a lot of new wealth is being generated by promoters selling their stake.
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The rupee was last at 62.05/06 after gaining to as high 61.9650 against the dollar, its highest since Nov 19. It had closed at 62.44/45 on Friday.
With future prospects being difficult to predict, hiring for a short period is proving to be cost-effective
The vice chairman said they have asked agencies like the ED, IT to make an assessment of the list and prepare a report in this regard.
The bench also sought a report about an inquiry made on the issue.
K V Chowdary, who is set to take over as the new Chief Vigilance Commissioner on Tuesday said he has full respect for both Prashant Bhushan and Ram Jethmalani, who have opposed his appointment to the top post in the country's apex anti-corruption watchdog.
May touch 64/$ due to foreign flows slowing down
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
Earlier, Arun Jaitley had said 60 prosecutions had been launched on the 'HSBC list'.
Anil Divan, who is fighting the black money case in the Supreme Court, speaks to Sheela Bhatt/Rediff.com.
Floor price of SAIL to be set at Rs 83 a share.
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
Economist Arvind Panagariya has also argued for loosening deficit targets to boost capital spending
Airline says can't discuss dues publicly, denies grounding of planes
Pharma shares extended losses after the government's ban on combination drugs.
GDP growth in November is the second-highest since January 2012 when it had expanded 5.7%.
The MF Industry had a cash-rich 2014 as it crossed the Rs 3 trillion mark.
Burman had sought permission to travel to Dubai from May 3-7.
L&T, ONGC and banking scrips power gains in today's trade
The comments come at a time when the Supreme Court-constituted Special Investigation Team has detected funds worth about Rs 4,479 crore (Rs 44.79 billion) held by Indians in a Swiss branch of HSBC bank, while unaccounted wealth totalling Rs 14,958 crore (Rs 149.58 billion) have been traced within home.
Most analysts expect the note ban to sharply hit GVA growth in Q3 and Q4, and the central bank's stance is being called into question.
