Analysts expect the central bank to remain watchful of inflation.
Ganapathi, secretary (West), ministry of external affairs, has been tasked to once again take up the matter and convey the government's views on the issue to the Norwegian authorities, official sources said.
According to sources, the central bank is keen on such a scheme to attract foreign exchange, as the country's reserves have seen a depletion in the wake of a weakening domestic currency.
Amending the Foreign Exchange Management Regulations, the RBI said that its prior permission would not be necessary where the company whose shares are being transferred is engaged in any financial service.
With the custody row with Norway over two Non-Resident Indian children settled, an Indian mother in Sweden has sought the Indian government's intervention for custody of her 11-year-old son allegedly being held by the Swedish authorities.
The recent decision by a Norwegian court to hand over two Non-Resident Indian children in foster care to their paternal uncle in India after a protracted legal battle was "taken in the best interest of the children," a senior official said on Tuesday.
NRIs remittances jumped 19 per cent to $66 billion in the last fiscal compared to the previous financial year because of a sharp decline in the rupee value against dollar, Assocham said in a study.
After the Pravasi Bharatiya Divas, Priyanka asks Overseas Indian Affairs Minister Vyalar Ravi the tough questions about voting rights, investments, and other issues faced by Non-resident Indians.
The chief ministers deviated from their prepared speech copies and went all out to woo the NRIs and PIOs as they explained the development initiatives being taken by their respective governments in achieving inclusive growth.
For non-resident Indians (NRIs), the recent relaxation in the inward remittances guidelines by the Reserve Bank of India (RBI) comes as a relief.
The Reserve Bank of India on Thursday allowed Non-Resident Indians to hedge currency risk for external commercial borrowings (ECBs) denominated in rupees with Indian banks.
Four non-resident Indians and two Ghana citizens of Indian origin, who were charged by Scotland Yard on May 18 for allegedly trafficking an Indian woman from Hyderabad for sex, will now face trial in October.
The total external debt of $426 billion showed an increase of $21.1 billion over the March-end level.
As far as people like Kamala Harris are concerned, it's okay to share a culture, but wrong to play domestic Indian politics during American elections,' notes Vir Sanghvi.
Almost a year after announcing a $4 billion deal, Sun Pharmaceutical Industries on Tuesday said merger of Ranbaxy with itself has been 'consummated.'
Distraught parents of two Indian-origin children held in Norway under protective care on Friday had an emotional re-union with their kids and hoped that the family's suffering will end soon, months after the issue triggered a diplomatic row.
More and more Indians are opting for offshore properties as a second home in exotic locations.
The two children of a Non-Resident Indian couple in Norway, who had been taken away by country's Child Welfare Service last year and kept in foster care, on Tuesday returned to India. After months of custody row that saw India stepping up diplomatic pressure on Norway to send back the children a Norwegian court on Monday had handed over the custody of the two children to their paternal uncle.
A Norwegian court on Monday handed over two Non-Resident Indian children to their paternal uncle, ending months of custody row that saw India stepping up diplomatic pressure on Norway to send back the kids, taken away by the Child Welfare Service here last year and kept in foster care.
President Pratibha Patil has approved the conferment of Padma Awards 2012. This year the president has approved 109 awards including one duo case (counted as one) and 14 in the category of foreigners/non-resident Indians/ Persons of India Origin/ posthumous. These comprise five Padma Vibhushan, 27 Padma Bhushan and 77 Padma Shri Awards. There are 19 ladies among the awardees.
President Pratibha Patil has approved the conferment of Padma Awards-2012. This year the President has approved 109 awards including one duo case (counted as one) and 14 in the category of foreigners/ non-resident Indians/ Persons of Indian Origin/Posthumous. These comprise five Padma Vibhushan, 27 Padma Bhushan and 77 Padma Shri Awards. There are 19 women among the awardees.
It was primarily due to a higher trade deficit ($41.6 billion) brought about by a larger increase in merchandise import.
Rediff.com's A Ganesh Nadar caught up with Arjun Munda, Chief Minister of Jharkhand.
The tsunami of recession that originated in the Wall Street and spread to Europe did not affect India because our banks are conservative, said Overseas Indian Affairs Minister Vayalar Ravi while addressing a seminar at the 10th Pravasi Bharatiya Diwas in Jaipur on Sunday.
India's officialdom must turn to the diaspora to fund the economy's addiction to foreign money.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
In a measure that will have far-reaching impact on foreign investment and the Vodafone case having a tax implication of Rs 11,000 crore (Rs 110 billion), the government proposed amendment in the Income Tax Act retrospectively from April 1, 1962.
'Coronavirus has occasioned us to see how copious Modi's mojo bag is,' says Shreekant Sambrani.
Non-resident Indian Anshuman Mishra, who was recently in the news over the controversy surrounding the Bharatiya Janata Party's candidate for Rajya Sabha polls from Jharkhand, writes an open letter to party patriarch Lal Krishna Advani in which he advices the latter to make a dignified exit and hand over the reins to the party's second generation leaders.
India is "closely monitoring" the progress in the non-resident Indian children custody row, External Affairs Minister S M Krishna said in New Delhi on Thursday.
Several Assamese-origin students studying in American universities met with Indian embassy officials to deliver a letter to President Pranab Mukherjee on the killing of over 32 Muslims in Assam as a result of election-related violence there. Aziz Haniffa reports
Sagarika Bhattacharya, the mother of the two Non-Resident Indian children who arrived in India after a Norwegian court granted their custody to their uncle, on Wednesday posted a message on Facebook saying 'give them a big hug from me'.
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
External Affairs Minister S M Krishna on Sunday instructed Indian Ambassador to Norway R K Tyagi to speak to the Norwegian foreign ministry to ensure the release of two children, who were separated from a Non-resident Indian couple by the Norwegian Childcare Services.
The income tax department has slapped a Rs 1,067-crore (Rs 10.67 billion) demand notice on telecom giant Bharti Airtel for alleged non-payment of Tax Deducted at Source (TDS) dues in the past four financial years in connection with its operations abroad.
Prime Minister Manmohan Singh on Sunday told the ongoing Pravasi Bharatiya Divas at Jaipur that Non Resident Indians should be allowed to vote and participate in the election process. Some NRIs at the event tell A Ganesh Nadar what the PM's statement means to them
The new return forms also make life easier for expatriates.
Two police officers from Punjab, S K Sharma, additional director general of police, and Gurpreet Kaur Deo, inspector general of police (non-resident Indian affairs), were in the San Francisco Bay Area December 13 to address the grievances of the community.
Most developers Business Standard spoke to claimed a 25 to 30 per cent spurt in sales to NRIs over the last two months.
