The Securities and Exchange Board of India, with an eye on attracting portfolio inflows into India, said on Tuesday it was cutting the registration time and fee for foreign institutional investors.\n\n\n\n
With the CAA rules being issued, the Modi government will now start granting Indian nationality to persecuted non-Muslim migrants -- Hindus, Sikhs, Jains, Buddhists, Parsis and Christians -- from the three countries.
India maintains "high" import duties on a wide range of American goods such as agricultural items, drug formulations, and alcoholic beverages, besides imposing non-tariif barriers, a US report has said. A day before announcing reciprocal tariffs, the US Trade Representative (USTR) released the 2025 National Trade Estimate (NTE) Report on March 31.
The rules for the CAA are likely to be issued before the MCC comes into effect, sources privy to the development said.
Equities in India saw record FPI inflows of $16.8 billion in November and December, taking the benchmark indices to new highs.
Shedding its opposition, the Bar Council of India (BCI) on Wednesday took a significant decision to permit foreign lawyers and law firms to practise in areas such as foreign law, international legal issues and arbitration matters, saying that the legal fraternity here may be left behind if it sleeps over the matter.
Applicants for Indian citizenship under the Citizenship (Amendment) Act 2019 (CAA) can submit any of nine documents, including valid or expired passport, ID cards and land tenancy records, to prove he or she is a national of Afghanistan or Bangladesh or Pakistan.
Over 10,000 foreigners were arrested by Indian security agencies last year for violating provisions of the Foreigners Act and immigration control rules, the government told Parliament on Wednesday.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
Unnecessary victimisation may "reflect in the bilateral relations", the Bombay high court said on Thursday while ordering the authorities to issue exit permit to a Chinese woman who was acquitted in a gold smuggling case yet could not leave India.
Foreign funding licences of 8,353 NGOs were not renewed by the Union home ministry and the registration of 264 NGOs was suspended in the last five years, the Rajya Sabha was informed on Wednesday.
In a notification, the home ministry also said if the amount exceeds, the individuals will now have 90 days to inform the government instead of 30 days earlier.
The Delhi high court on Tuesday dismissed a PIL seeking to make Indian citizenship a pre-requisite for a person to be appointed as the editor of a publication.
In a bid to ease compliance towards companies planning public offers (IPOs), the Securities and Exchange Board of India (Sebi) has notified norms that open more avenues to meet the minimum promoters' contribution (MPC). The market regulator has permitted promoter group entities and non-individual shareholders to contribute to the mandated promoters' contribution in the case of a shortfall without being identified as a promoter.
With farm Acts out of the picture, the government may look at reforming the input side of the agriculture sector - regulations and rules that govern seeds, fertilisers and plant chemicals. Sources said such a blueprint, which is aimed at making the life of farmers easier, with quicker approvals but not compromising on quality, is in the works as part of the 100-day agenda of Modi 3.0. Also, ways to administer fertiliser subsidy more effectively and cutting down on leakages and diversions to build on the success of neem-coated urea are being thought of.
Foreign portfolio investors (FPIs) from Mauritius may face higher scrutiny after the amendment in the India-Mauritius tax treaty introduced a principle purpose test (PPT) to prevent treaty abuse by taxpayers. The Mauritius government had in February decided to amend the double taxation avoidance agreement (DTAA) with India to align with the Organisation for Economic Co-operation and Development's proposal on base erosion and profit shifting. Although the agreement between India and Mauritius was signed on March 7, the protocol of the amendment was made public for the first time on Wednesday, said legal experts.
Declaring a man Indian citizen, the tribunal in Karimganj district held that though National Identity Cards are yet to be issued, 'but there is no doubt that this NRC Assam published in 2019 is nothing but Final NRC'.
Official said a CBI inquiry has been recommended against Aman Biradari for violation of various provisions of the Foreign Contribution (Regulation) Act.
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
The regulatory gap between crypto firms registered with the Financial Intelligence Unit-India (FIU-India) and unregistered offshore entities is expected to narrow, industry players said, after global crypto players Binance and KuCoin received approvals to register with India's anti-money laundering unit.
The EU mission noted that political and campaign fundraising and financial expenditure lack transparency and effective oversight.
The IAS officer was later taken into custody under the provisions of the Prevention of Money Laundering Act and is expected to be produced before a magistrate seeking his remand, the sources said.
However, organisations such as the Missionaries of Charity will not be eligible for the extension benefits as their applications for a renewal of the FCRA registration have already been rejected, according to a notice issued by the ministry of home affairs.
The behaviour of the foreign institutional investors is gauged from the numbers put out by the exchanges and regulators.
The order said the NGO has transferred an amount of Rs 2.46 lakh from its foreign contribution designated account to Sabrang Trust domestic account, thus mixing of domestic and foreign funds and violating the rules.
The top court noted many recipients of foreign contributions had not utilised the same for the purposes for which they were registered or granted prior permission under the Act.
Indian civil aviation norms don't apply to foreign aviation companies, experts said.
Funding challenges are not limited to just one think tank. Several scholars say that access for conducting research and getting foreign funds has become a major hurdle for think tanks, with the government raising many questions regarding such inflows. As a result, many think tanks are keeping a low profile and becoming less prolific.
The Biden administration has announced that it is delaying the H-1B policy of the previous Trump administration on allocation of the popular foreign work visas by continuing with the lottery system until December 31, 2021, to give the immigration agency more time to develop, test and implement the modifications to the registration system. On January 7, the US Citizenship and Immigration Services (USCIS) announced to do away with the traditional lottery system in deciding the successful applicants for the H-1B visas. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in specialty occupations that require theoretical or technical expertise.
The Union home ministry on Thursday recommended a Central Bureau of Investigation probe into the affairs of the Indian arm of the global NGO Oxfam for alleged violation of the Foreign Contribution (Regulation) Act, sources said.
According to the committee, single overseas investments of more than 10 per cent in a company should be considered as Foreign Direct Investment while those less than 10 per cent should be classified as foreign portfolio investment.
Forty MLAs from violence-hit Manipur have written to Prime Minister Narendra Modi stating that the state requires complete disarmament to foster an environment of peace and security.
The US has received enough electronic applications during the initial registration period to reach the 2022 fiscal year cap for the H-1B foreign workers visa, the most sought-after work visa among Indian professionals. The US Citizenship and Immigration Services, the federal agency which screens and allocates H-1B applications, said it was randomly selected from among the registrations properly submitted to reach the cap. The H-1B visa is a non-immigrant visa that allows the US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise. The technology companies depend on it to hire tens of thousands of employees each year from countries like India and China.
Most of these cancellations were done on account of non-filing of annual returns which is a mandatory requirement under the law, Union Minister of State for Home Nityanand Rai said.
The 78-year-old Naveen is on the cusp of creating history. He must win the forthcoming Assembly polls to become India's longest-serving chief minister, a record held by Sikkim's Pawan Kumar Chamling.
The Ministry of Home Affairs on Monday said the Missionaries of Charity's application for renewal of the Foreign Contribution (Regulation) Act (FCRA) registration was refused on December 25 for not meeting eligibility conditions as some adverse inputs were received.
All Overseas Citizen of India (OCI) cardholders are required to take a special permission from the central government if they want to be involved in any missionary, 'Tabligh' or journalistic activities in the country.
In a wide-ranging overhaul of rules to make India an easier, safer and attractive investment destination, Sebi on Tuesday unveiled a new set of streamlined entry norms for foreign investors, while putting in place checks against any wrongdoings by the company promoters.
The HMO said it will amend the rules to increase the time limit of filing of appeals in foreigners tribunals from 60 to 120 days for those who would be excluded from the final NRC.
Islamic Research Foundation Educational Trust, promoted by controversial Islamic preacher Zakir Naik, has been put under prior permission category, thus preventing it from receiving foreign funds without getting nod from the central government.
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