Steps to improve governance, instill confidence in the government machinery and streamlining function across the different ministries are also important to feed the positive mood, the DBS report added.
The Enforcement Directorate (ED) has summoned Rajkot-based bullion trader Pankaj Lodhiya, whose name figured in the list of black money holders submitted by the government to the Supreme Court, to probe if he was involved in hawala trade.
Your money is protected by the Deposit Insurance and Credit Guarantee Corporation.
'Has the time come to devise Version 2 of ad hoc T-bills?' 'In return, the government must agree to privatise all but five or six banks.' 'If something like this is not done, we will have governments going on the rampage, with increasing frequency,' says T C A Srinivasa Raghavan.
'The BJP is saying we have Modi, who have you got?' 'We have the people of India on our side.'
Congress had attacked Narendra Modi during the Lok Sabha campaign on social media under the hashtag 'Feku'.
"As it is said a man-made disaster, in the same way demonetisation is Modi-made disaster," the Congress vice-president said as he targeted the prime minister squarely blaming him for the hardships post-demonetisation.
The predictions by the world's biggest wealth manager were based on a statistical model using the results from the previous five tournaments and controlling for factors such as team strength and success in the qualification phase.
Since 2009, the Department has publicly charged 73 account holders and 35 professionals with violations arising from their offshore banking activities, and 72 individuals have plead guilty or were convicted at trial.
Bayern Munich president Uli Hoeness was charged with tax evasion on Tuesday after months of investigations into the high-profile affair were concluded, a Munich court said.
Switzerland struck twice in quick succession to stun Euro 2016 champions Portugal 2-0 in a World Cup qualifier on Tuesday and hand them a first competitive defeat in two years under coach Fernando Santos.
The PM has demonetised high currency notes to waive off Rs 1.14 lakh crore loans of industrialists and he is now planning for another waiver of Rs 8 lakh crore, he said.
The income tax department is asked to keep names of blackmoney holders under wraps.
The open offers for the shareholders of Ambuja Cements and ACC will begin from July 6 and close on July 19, as per a tentative schedule published by the Adani family today. With an investment of $4 billion (Rs 31,139 crore), together these two open offers might constitute the biggest open offer in corporate Indian history. The mandatory open offer for the companies was made by a Mauritius based company owned by the Adani family after they acquired a 63 per cent stake in Ambuja and 4.5 per cent in ACC from Swiss cement major, Holcim for $6.5 billion. Ambuja owns a 50 per cent stake in ACC.
In a move that could help India track black money, Switzerland on Tuesday relaxed norms for sharing information on secret bank accounts of overseas tax offenders by allowing varied modes of identification.
The I-T department has also filed 77 prosecution cases.
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
The Bharatiya Janata Party's hot saffronite swami is yoga teacher Ramdev.
Occasionally, a whistle-blower releases sensitive financial data.
The finance ministry has received over 600 names of Indians who have accounts in HSBC Bank's Switzerland branch, from the government of France.These names were obtained by the French government after an employee of HSBC Bank became a whistleblower. He took refuge in France and brought along a long list of account holders who have allegedly stashed money in the Swiss branch of HSBC Bank. Now the Indian government is sitting tight on those names.
The Swiss authorities have never considered tax evasion a reason for breaking banking secrecy on an account; what they have acknowledged now is that they will cooperate in cases of tax fraud, which has a tighter definition.
In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
UBS India, the domestic franchise of Swiss banking major UBS Group which last month surrendered its banking licence, has started laying off around 50 people, who are affected by the decision.
India's largest cement firm, Ultratech Cement, has joined the race to acquire the Holcim stake in Ambuja Cements and its subsidiary, ACC. UltraTech - part of the Aditya Birla Group - submitted a non-binding bid on Wednesday. Swiss multinational Holcim, which manufactures building material, is exiting India by selling its 63.19% stake in Ambuja Cements. According to banking sources, UltraTech has submitted a plan to Holcim, outlining divestiture details that would meet the norms set by anti-trust body Competition Commission of India.
Prime Minister Narendra Modi on Tuesday mounted a shrill attack on the Aam Aadmi Party
Modi on Saturday embarked on a five-nation visit to Afghanistan, Qatar, Switzerland, the US and Mexico focus of which will be to enhance India's engagement in areas of trade, energy and security, besides pushing for its membership of the Nuclear Suppliers Group.
Why you are so egoistic? You have branded everyone in the country a black marketeer and have yourself turned into a saint ," Banerjee said.
Addressing chartered accountants on the foundation day of the Institute of Chartered Accountants in India, Modi also said CAs should take a pledge to bring people in the tax bracket rather than boasting about the number of clients they have saved from paying taxes.
Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
Choose from a range of accessories to make his life easy, enjoyable and stress-free.
The chairman of the JSW Group of companies, Sajjan Jindal, whose stake in the group is valued at $14.5 billion (Rs 1.1 trillion), is betting $4.5 billion of his personal fortune in the firm's bid for Ambuja Cements. According to bankers, Jindal's contribution will be a combination of share sale and debts raised by pledging the stake of the target entities with private equities. The JSW Group chairman has offered $7 billion for Ambuja Cements, including $2.5 billion of investments from private equities, the Financial Times reported on Tuesday.
The Fortune's 40 under 40 list for this year was topped by Adam Neuman, Co-founder and CEO, WeWork.
The I-T department has been probing 240 HSBC cases where it is suspected that Indians have stashed their illicit funds abroad.
Byju's is set to promote its chief operating officer (COO) Mrinal Mohit to a bigger role, including leading the India operations, according to people familiar with the matter. This is because Byju Raveendran, founder and chief executive officer (CEO) of the edtech giant - which is valued at $22 billion - is planning to focus on global expansion and acquisitions. Among the global regions, Raveendran may look at markets such as the US and the Middle East.
Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
Aditya Chopra may be a household name in India, but few have seen his face, recognise his voice or know the brain behind the business outside his tight inner circle. The Romantics makes sure it has its own to brag about when he, finally, appears before the camera, notes Sukanya Verma.
There is little that Andreas Schmid, the Swiss-born chairman of Flughafen Zurich AG (Zurich Airport International AG), and Yogi Adityanath, chief minister of Uttar Pradesh (UP), could have in common. But Schmid, whose company is building the Noida airport in partnership with the UP government, finds himself on the same footing as the firebrand Hindutva leader who rules the state. Both hope the Rs 30,000-crore ($4 billion) project, hanging fire for 20 years, shows some progress when UP goes to the polls in 2022.
During deleveraging the income falls more than reduction in debt due to the austerity measures.
India's ace shuttler Kidambi Srikanth feels the Swiss Open win has put him on course for a first-ever Olympic qualification but says he needs maintain consistency to make the cut for the 2016 Rio Games and achieve World No. 1 ranking.
It said it was not convinced with the grounds of the CBI to condone over 4,500 days' delay in filing the appeal. The CBI had filed the appeal on February 2 this year.
