Traders said the rupee was also supported by speculation that May wholesale inflation due this week may show continued easing.
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.
The rubber and tourism industries in the state, to which the bank has exposure, have been hit.
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.
Comedy, black, white or blue, is its effective best when spontaneous and born out of erratic, whimsical reactions against a perfectly genuine backdrop. Precisely why Phas Gaye Re Obama scores.
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.
A consortium of India's largest engineering company Larsen & Toubro (L&T) and non-resident Keralite (NRK) businessman P Mohamed Al-led Galfar Engineering & Contracting has bagged the design and development order for the New Salalah International Airport in the Sultanate of Oman for $764 million (Rs 3,452 crore).
'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.
"Gone are the days of euphoric buying. Today, people are doing calculated buying. They are doing thorough due diligence, checking out the location," said Kunal Banerji, president, M3M India.
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.
The four recommendations came from Civil Aviation Minister Praful Patel, Minister for Overseas Indian Affairs,Vayalar Ravi, member of US Congress Joseph Crowley and Dalis Adler, staff associate, sub-committee on the Middle East and South Asia under the House Committee on Foreign Affairs.
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.
Defending the new foreign investment guidelines released this week, commerce and industry minister Kamal Nath said on Friday the norms would not distinguish between different forms of foreign capital.
Stock to watch: Shipping Corporation and Great Eastern Shipping
Supporters of the proposal voiced their grievances at the gathering on how their properties were allegedly taken over by government, mafia and illegal occupants.
With controversy erupting over Padma Bhushan for Non Resident Indian hotelier Sant Singh Chatwal, the government stepped in to clear the air saying 'due diligence' was done before selection and that the Central Bureau of Investigation had closed three cases of financial irregularities against him.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
Every year, hundreds of non-resident Indians diligently gather in New Delhi to attend the Pravasi Bharatiya Divas from their different far-off adoptive nations just for three days.
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The Hinduja brothers, who top Britain's rich list, said in a statement that Finance Minister Arun Jaitley's Budget had set the direction for a 'very positive long-term agenda'.
However, finance minister Pranab Mukerjee did not commit himself to this proposal of floating infrastructure bonds, as this requires detailed examination and Parliamentary nod.
Once approved by Parliament, there will be a complete ban on commercial surrogacy, but altruistic surrogacy will be permitted for needy infertile couples under strict regulations.
A full rollout of the products will be completed by March 2011 and the UK branch of SBI will be adding three branches over the existing seven to push its retail agenda. With this, SBI will take on local heavyweights in the mortgage segment such as HSBC, Barclays, NatWest, Lloyds and RBS.
The deadline for linking PAN with Aadhaar for taxpayers was to end on Thursday.
The Bengaluru police are investigating the alleged threat call made to spiritual leader Sri Sri Ravishankar's Art of Living organisation three days ago.Recently, the AoL lodged a complaint alleging that someone had demanded Rs 42 crore from the organisation and threatened to tarnish its reputation if it failed to pay the amount.A day later, non-resident Indian Paul P alleged that AoL grabbed 15 acres of land on Kanakapura Road near Bengaluru where the AoL ashram is situated.
The allegation comes a day after AoL stated it had received extortion calls demanding Rs 42 crore, failing which the institution would be defamed.
If the life assured is an Indian national or a person of Indian origin temporarily residing in the country of his present residence, he can get insurance. Even green card holders and foreign nationals of Indian origin can get life insurance in India.
Section 195 casts an obligation on the person responsible for payment to non-resident to deduct tax at source at the time of payment or at the time of credit of the sum to the account of the non-resident.
The government has decided to do away with the various classifications of foreign investments for the purpose of calculating foreign investment in downstream companies.
C K Prahalad, has been voted as the most influential living management thinker for the second time in a row.
It has been decided to reduce home loan rate by 20 basis points.
The proposed takeover of Cairn Energy's India business could see Non-Resident Indian billionaire Anil Agarwal emerging as the richest promoter of a corporate house in India ahead of Mukesh Ambani, who has ruled the list for long.
Breaking more walls for non-resident Indians, Minister for Overseas Affairs announced that Indians abroad could take active part in the development process of the country.
But the question the Indian taxpayer is now asking is, who should pay for all this? The Indian government, using the taxpayers' money? The Indians who went there to make money, and have surely made enough of it to spend on securing their future? Or even the companies that sent Indians there to work on projects?
Congress chief Sonia Gandhi and Uttar Pradesh Chief Minister Mayawati are among the four Indians named in the Financial Times list of '50 People Who Shaped the Decade.'
Chief Minister Pinarayi Vijayan said on Wednesday the state government would approach Prime Minister Narendra Modi to clear hurdles, if any, in receiving the flood relief aid offered to the state by the UAE.
Lauding the contribution of non-resident Indians in the development of the country, he said, 'Mahatma Gandhi, Sardar Patel, B R Ambedkar, Jawaharlal Nehru were all NRIs. They travelled the world and helped India with new perspectives.'
Sri Sri Ravi Shankar speaks about the land-grabbing allegations, the Swami Nityananda sex scandal and his interaction with Naxal leaders.
