The Indian money in Swiss banks had fallen by 45 per cent in 2016, marking their biggest ever yearly plunge, to CHF 676 million (about Rs 4,500 crore) -- the lowest ever since the European nation began making the data public in 1987.
The committee had eminent people on it and making any allegations like this is 'outlandish', Sitharaman said.
Firestar Diamond, which on its website states that its operations span the US, Europe, the Middle East, the Far East and India, blamed liquidity and supply chain challenges.
There is no such thing as 'free' credit cards. Most of the charges associated with your card are not even told upfront to you. Knowing about these various fees and charges will put you in good stead and help you use your card prudently.
The apex court's 2017 order had come on a plea by consortium of banks led by SBI, which had said that Mallya had allegedly transferred $40 million received from British firm Diageo, to his children in 'flagrant violation' of various judicial orders.
Sahara was to provide a bank guarantee from HSBC.
Indians face COVID-19 with record debt, stalled income.
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
A forensic probe has been ordered into alleged irregularities by the department of financial services.
A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case on taking cognisance of the charge sheet filed by the Enforcement Directorate (ED) against them.
As a step to protect its interest as a lender, SBI will look at the financial stability and corporate governance practices in companies where it has exposure.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
An initiative to fund the education of bright Indian youngsters undertaken by two Indian-Americans has now acquired a momentum of its own, discovers Anjuli Bhargava.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Switzerland's Ambassador to India Linus von Castelmur also said the past cannot be undone, while promising full support of his country in cases where at least some proof is provided on tax frauds.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
Since the coming into force of PMLA in 2005, ED has traced and attached laundered assets worth Rs 5,346 crore.
A look at the major names who were not retained by the IPL franchises.
As billions of dollars flow into India's booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings.
Black money can take the form of a high-end property in Southeast Asia, a cruise ship floating on the Mediterranean or blue-chip shares held via an offshore fund manager.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
'In my 20 years, I have never seen such high rates.'
Dollar's strength against some currencies overseas and firming crude oil prices also put pressure on the rupee, dealers said.
While BlackRock is an existing investor in Byju's, T Rowe joined as a new investor.
Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.
Dubai, Singapore, London are the top overseas markets for Indians
In a 35-minute address to the Indian diaspora, the prime minister said that his government was not afraid of taking "big" and "tough" decisions in the interest of the country.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
In 2014, FIIs have infused a net amount of Rs 1,59,157 crore ( 1.59 trillion) in the debt markets.
Apart from INX Media and Aircel-Maxis, the four other firms which are under the scanner are Diageo Scotland, Essar Steel, Katara Holdings and Elforge Ltd. These firms were granted FIPB approval when Chidambaram was the FM, reports Shrimi Choudhary.
The US Department of Justice declined to comment on Modi.
The fact that Tamil Nadu Chief Minister J Jayalalithaa approved an expenditure of Rs 29 crore for the World Chess Championship between Viswanathan Anand and Norway's Magnus Carlsen to be held here points to the significance the event has for the state government.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Kalyan Jewellers is eyeing overseas expansion by catering to India-like markets and the diaspora
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
Audi's strategy seems to point to pushing technology to directly connect with consumers using digital platforms and marketing to synchromesh into one seamless experience, says Pavan Lall.
The Reserve Bank of India said Airtel's board of directors and shareholders have passed resolutions agreeing to increase the limit on the purchase of its equity shares and convertible debentures by foreign institutional investors.
China Development Bank takes Reliance Communications to NCLT over loan default
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