The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Non-resident Indians are investing in well-established small and medium enterprises in India
Civil Aviation Minister Suresh Prabhu and Chief Minister Pinarayi Vijayan jointly flagged off the inaugural Air India Express flight, carrying 186 passengers to Abu Dhabi.
It's baffling that highly trained professionals who have migrated in search of better incomes and creature comforts, and whose number includes some 200,000 millionaires, should still feel so vehemently about the landscape they have abandoned.
The Income Tax Department has slapped a Rs 1,067-crore demand notice on telecom giant Bharti Airtel for non-payment of TDS dues in the last four financial years in connection with its overseas operations, even as the company said it was fully compliant with all the provisions.
According to a study by MyHiringClub.com, a recruitment tendering platform, hiring of NRIs accounted for 21 per cent of total recruitment activity during April-June, 2011, compared to 16 per cent in the year-ago period, representing a growth of 5 per cent.
The widening of the CAD on a year-on-year basis was primarily on account of a higher trade deficit at $50 billion
After private banks, it is now the turn of large public sector banks to raise interest rates on non-resident (external) rupee (NRE) deposits after the central bank lifted the cap on rates for these deposits.
The Securities and Exchange Board of India will notify the rules by August 1.
Hit by sluggish sales at home, realtors are wooing non-resident Indians (NRIs). A slew of property exhibitions have been lined up at Dubai, Singapore, London, Durban and New York over the next three-four months.
We check out a few super-luxury homes on offer in metros that come with a garden and a swimming pool.
'How the lockdown is phased out or lifted will tell us if the government has succeeded in its battle against COVID-19.' 'If it cannot sequence its decisions on exiting the lockdown, the few gains secured so far may be frittered away,' says A K Bhattacharya.
The note recommends allowing FDI in domestic firms through the issue of partly-paid up shares and convertible warrants, but with certain riders.
The Reserve Bank has notified that all transfer of stake or interest in an oil and gas field to non-residents will be treated as FDI and will have to be reported under Foreign Exchange Management Act (FEMA).
In the late 1990s, the construction cost of the Ram temple, according to unofficial estimates, was pegged at Rs 120 crore. Adjusting for inflation to the current financial year, the edifice would entail an investment of nearly Rs 450 crore, excluding the land cost.
The Bihar government set up the Bihar Roots Foundation to help connect people of Bihar origin in different parts of the world to the land of their ancestors and preserve their ancestral language, Bhojpuri. But it needs to do more to preserve the language and its heritage in Bihar
Good days never come. The slogan of achhe din is a bone stuck in the throat for the National Democratic Alliance government, Gadkari said.
The Reserve Bank on Thursday eased foreign direct investment (FDI) norms and allowed banks to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies.
A United States-based Non-Resident Indian has been booked for allegedly posting a morphed picture of Goa's PWD Minister Sudin Dhavalikar in a bikini on social networking site Facebook.
Millions of NRIs wishing to get voting rights may have to wait a little longer to see their names in electoral rolls as differences between the government and the Election Commission have resulted in a delay in finalising the modalities for enrolment.Overseas Indian Affairs Minister Vayalar Ravi on Tuesday said two rounds of discussions have already been held between the Election Commission, the external affairs ministry and his ministry to finalise the modalities.
The rubber and tourism industries in the state, to which the bank has exposure, have been hit.
Sivasankran alleges Maran had forced him to sell Aircel.
The government has decided to relax angel tax norms for startups, including increasing the investment limit to Rs 25 crore for availing income tax concessions.
To provide similar extended time limit for payment of tax deducted from payments made to non-residents, it is proposed that the deductor shall be allowed to claim deduction for payments made to non-residents in the previous year of payment.
Meet Anna Fernandes of Quan Spa, JW Marriott Pune. She was awarded the Spa Manager of the Year at the GeoSpa Global Spa Awards 2018.
Private sector lender ICICI Bank on Monday launched I-Express, an instant cross-border money transfer option for Non-Resident Indians (NRIs).
The total amount of money stashed away in tax havens has been estimated at a whopping $11.5 trillion.
The real estate industry will witness new launches in the premium residential segment in 2011, on the back of demand revival and good prospects in the economy, albeit at a slower pace.
At the annual Pravasi Bharatiya Divas, organised by the government ostensibly to celebrate the country's connection with the 27-million-strong Indian diaspora living in 150 countries, Mr Ahluwalia said last Sunday that India was reaching out to NRIs not for their money, but because it valued the long, socio-cultural footprint all Indians living in India and abroad shared.
The Election Commission's insistence on physical verification of millions of non-resident Indians wishing to get voting rights has led to delay in finalizing modalities for entry of their names in electoral rolls.
Monster.com says their logged number of non-resident Indians seeking jobs back in India has grown 65 per cent in the past year.
Replying to a debate on the Representation of People (Amendment) Bill, 2010 to allow NRIs to exercise their franchise in Indian elections, Law Minister M Veerappa Moily said the government would hold a national consultation on comprehensive electoral reforms in two to three months.The Rajya Sabha had passed the bill on Monday.
Traders said the rupee was also supported by speculation that May wholesale inflation due this week may show continued easing.
Noted economist Arvind Panagariya says India is an emerging power. With liberalisation, Indian entrepreneurs have emerged and they are top class.
The finance ministry has suggested easing of the rules for calculating foreign investment in a company. The proposed rules, which take out sundry entries of indirect investment, will make life easier for companies, which have high foreign institutional investment and face the risk of breaching sector-specific caps.
Experts said the tensions have added to a sense of apprehension in the United States, Europe and parts of Asia that China will engage in more aggressive behaviour in pursuit of its territorial interests, which in turn has raised the possibility of a serious and coordinated pushback by leading global players.
This year, for the first time, NRIs returning from the US are expected to outnumber those coming to this country from India.
Procuring an Overseas Citizenship of India Card has become more difficult and expensive for non-resident Indians thanks to new rules introduced by the government. The new rule makes it compulsory to surrender the Indian passports (valid/expired) and get a surrender certificate after paying $175, in addition to the $275 charged for the OCI Card.Anyone acquiring foreign citizenship has to surrender his/her Indian passport within three months.
Educational institutions in India have a quota system for non resident Indians (NRIs). But the catch is that the fees are higher than what resident students pay.
