Finance Minister Nirmala Sitharaman on Sunday proposed to exempt Minimum Alternate Tax (MAT) for non-residents who pay tax on presumptive basis.
Non-resident Indians (NRIs) in the Gulf region are increasingly purchasing term life insurance policies from India, driven by geopolitical uncertainties in West Asia and the significant cost advantages offered by Indian products, with the GCC region now contributing over half of the total NRI demand.
Market participants are keenly awaiting regular, preferably weekly, updates from the Reserve Bank of India (RBI) on Foreign Currency Non-Resident (Bank), or FCNR (B), deposits, following the central bank's directive for banks to submit daily data on these inflows.
India's preparations for the Ireland T20Is were briefly disrupted by practice facility issues in Belfast, but teenage sensation Vaibhav Sooryavanshi stole the spotlight with an impressive first net session that sparked excitement among local Indian fans.
Indian benchmark indices Sensex and Nifty closed marginally lower due to profit-taking, following the Reserve Bank of India's decision to keep the repo rate unchanged while lowering its growth expectations for the current fiscal year and forecasting higher inflation.
India now ranks among the world's top three destinations for both AI and STEM talent, holding roughly a 6 per cent share of globally mobile AI talent and a 7 per cent share of STEM talent.
India's remittance inflows have remained robust despite the West Asia conflict, driven by precautionary transfers and diversification of remittance sources, with bankers expecting continued stability for the year.
'We thought everything will be back to normal within one month. Now it's four months and still a final solution is miles away.'
'It will take a long time to recover from the impact of this war.'
Foreign Portfolio Investors (FPIs) have withdrawn over Rs 62,853 crore from Indian equities in the first fortnight of June, bringing the total outflows for 2026 to Rs 2.87 lakh crore, surpassing the entire 2025 figure, driven by geopolitical tensions, global economic growth concerns, and a weakening rupee.
The Election Commission has ordered an investigation into allegations that foreign nationals fraudulently voted in the Tamil Nadu Assembly election. The probe was initiated after police arrested ten foreign nationals with indelible ink on their fingers at Chennai and Madurai airports.
India achieved a current account surplus of USD 7.1 billion, or 0.7 per cent of GDP, in the January-March quarter of 2025-26, primarily boosted by robust services exports and increased remittances from overseas Indians, according to recent Reserve Bank of India data.
Foreign Portfolio Investors (FPIs) have withdrawn nearly Rs 43,000 crore from Indian equities in the first week of June, contributing to a total outflow of Rs 2.67 lakh crore in 2026, driven by a global shift towards technology and AI-linked opportunities and persistent rupee depreciation.
Flows from overseas Indians into Non-Resident Indian (NRI) deposit schemes have fallen by 24.17 per cent to approximately $11.04 billion between April 2025 and February 2026, down from $14.56 billion in the previous year, according to Reserve Bank of India (RBI) data.
State-owned enterprises in India are projected to significantly increase their overseas borrowings, potentially exceeding $15 billion in FY27, driven by the Reserve Bank of India's new concessional forex swap facility which offers a 3 per cent funding-cost advantage.
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'The MPC is likely to prioritise the key mandate, which is inflation, while relying on other instruments to stabilise the currency and bond markets.'
The Reserve Bank of India (RBI) and the central government have introduced a package of measures, including tax exemptions for FPIs on government securities and a concessional foreign-exchange swap facility, aiming to attract up to $50 billion in foreign capital. This initiative is designed to strengthen India's balance of payments and potentially cover the projected BoP gap for FY27.
The central bank is yet to consider actions such as a rate hike or mobilising dollar inflows from non-resident Indians to boost forex reserves as it cannot afford to continue with them for long when the rupee's internationalisation tops its agenda, explains Tamal Bandyopadhyay.
The Indian rupee is highly vulnerable among Asian currencies, with Barclays and MUFG warning of a potential depreciation towards 100/$ if the West Asia conflict persists, driven by widening current account deficits and elevated crude oil prices.
Police in Aligarh have recovered incriminating materials, including live cartridges and suspected fake currency, from a room in an Aligarh Muslim University hostel. The raid followed a tip-off and is linked to an ongoing investigation into a recent shooting incident.
West Bengal Chief Minister Mamata Banerjee has accused the BJP of attempting to illegally include voters from outside the state in West Bengal's electoral rolls, alleging a coordinated effort to interfere with democratic rights.
The Indian rupee depreciated by 28 paise to settle at 93.44 against the US dollar, influenced by ongoing uncertainties surrounding West Asia peace negotiations, volatile crude oil prices, and the Reserve Bank of India's recent adjustments to non-deliverable forward market regulations.
Ahead of NEET UG 2026 -- which opens the door to 1.2 lakh MBBS seats in the country annually -- education expert Nagarajan JSK explains why lakhs of students attempt the exam every year.
This election is different. It is no longer simply about governance or welfare. It is about identity, fear, and who belongs. The BJP has successfully shifted the terms of the debate from what the government has delivered to who the real Bengali is and who is an outsider, points out Ramesh Menon.
The Indian rupee experienced a significant surge against the US dollar following the Reserve Bank of India's measures to restrict banks from onshore forward markets. Despite this, the rupee remains under pressure from foreign capital outflows, a strong dollar, and rising crude oil prices.
'My resignation is a larger governance and governance-plus kind of an issue, which the board of directors of the bank should be introspecting.'
Kerala Chief Minister Pinarayi Vijayan held an online meeting with Loka Kerala Sabha members in the Gulf region to discuss support for the expatriate community amidst the escalating conflict in West Asia.
The inauguration of Noida International Airport (NIA) is set to significantly increase property values in micro-markets along the Yamuna Expressway, with projections indicating a 28 per cent rise for plots and 22 per cent for apartments over the next two years, according to Colliers.
Escalating geopolitical tensions in West Asia are prompting investors with exposure to Dubai's real estate market to reassess their portfolios. And, in this rejig, India is emerging as a stable destination for capital investment and long-term growth.
Kerala BJP president Rajeev Chandrasekhar criticizes the state government for the water crisis in Thiruvananthapuram ahead of the Attukal Pongala festival, alleging negligence and failure to utilize funds. He also addressed the Gulf conflict and political alliances in the state.
The controversy involves mis-selling Credit Suisse AT-I bonds to NRIs as fixed-maturity instruments, later written off after collapse.
This single amendment, unfortunately, overshadows much of the Budget's promise, explains Harsh Roongta.
Nearly two-thirds of external commercial borrowings (ECBs) raised so far in the ongoing financial year (2025-26/FY26) have been routed through Gujarat International Finance Tec-City (GIFT City), a sharp jump from the 36 per cent recorded in 2024-25.
Union Minister Pralhad Joshi assures that the Indian government is prepared to bring back Indians stranded in the Gulf region due to the Iran-Israel conflict and disruptions in Dubai, emphasizing citizen safety as the top priority.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
'China continues to perceive its relations with India through the prism of India-US relations, with the US using India to counter balance against China in the Indo-Pacific and beyond.'
'Among corporates, about 60% of income is now reported under the new tax regime.'
For the year 2026, the President has approved the conferment of 131 Padma awards. The list comprises five Padma Vibhushan, 13 Padma Bhushan and 113 Padma Shri.
