Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
Paytm will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon", said Vijay Shekhar Sharma, founder and chief executive officer of the fintech, on Thursday. "The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance, and the way we operate from the inside out.
The chargesheet also said they did not maintain exclusive books of account for receipt of foreign contribution and Sabrang could not produce segregated books of accounts for checking.
To get same tax treatment as FIIs; rules on search & seizure and consent settlement cleared
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
'Amendments in the past have created fear. This will take it further.'
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
'The message that we intend to leave with at the end of this trip is one of real gratitude for the friendship and the close partnership that President Biden and Prime Minister Modi have enjoyed over the last four years, but also one of tremendous optimism because we see a lot of opportunity in the future.'
DAP does not consider past I-T returns to match a taxpayer's resources with their expenditures or investments, points out Harsh Roongta.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know. The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details.
A five-judge constitution bench of the Supreme Court is scheduled to commence hearing from October 31 a batch of pleas challenging the validity of the electoral bond scheme for political funding of parties.
The Central Bureau of Investigation has filed a charge sheet against noted Malayalam author Paul Zacharia and four others including two charitable organisations in a case related to embezzlement of foreign funds.
'They have helped stabilise our market by acting as a counterbalance to foreign funds.'
The main purpose of the meeting is to assess their views on reforms that are required to attract long-term capital into the country.
Though a settlement will provide respite from a long legal battle, legal experts say it may create a perception of guilt.
An analysis by the Securities and Exchange Board of India (Sebi) has revealed that retail traders remain at the wrong end of the stick when it comes to equity derivatives trading. About 93 per cent of them incurred an average loss of Rs 2 lakh (per trader) during the last three financial years. The new report highlights an increase in the loss-making individual investors in futures and options (F&O) to 91.1 per cent in FY24 compared to 89 per cent in FY22.
A bench comprising Chief Justice of India DY Chandrachud and Justice PS Narasimha said the petitions raise three separate issues and hence, the need to hear them separately.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
A three-member union home ministry team on Thursday raided a trust office at Nagercoil run by S P Udayakumar, who is leading the anti-Kudankulam nuclear plant stir on charges of receiving foreign funding.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
The new system would be especially beneficial for Qualified Foreign Investors.
The ministry seeks to make lending requirements flexible for banks financing key stalled projects.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
So why do we need to analyse inflows under FCRA? Because of the sheer magnitude of inflows. Reported inflows into India were $2 billion in 2007-08 and app $2.5 billion in 2006-07.
Sebi also allowed foreign investors to own up to 15 per cent stake in domestic stock and commodity exchanges
Minister of State for Home Nityanand Rai said the legislation was not against any NGO and is an effort to maintain transparency. This amendment is in the interest of good NGOs which want to do good work in the country.
In first half of year, firms raise more than banks on low US treasury rates.
The registration was cancelled as Infosys Foundation allegedly did not file income and expenditure statement on foreign funding for the past few years, officials said.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
The CBI has registered a case of alleged violation of the Foreign Contribution (Regulation) Act against human rights activist Harsh Mander and his NGO, and searched his premises on Friday, officials said.
Market regulator Securities and Exchange Board of India has said one FPI can hold a maximum of 10 per cent of a company's equity shares, while existing overseas investor classes such as foreign institutional investors, sub-accounts and qualified foreign investors need to convert to the new FPI regime eventually.
The Union home ministry said it has cancelled registration of 11,319 organisations that had not applied for renewal of registration under the Foreign Contribution Regulations Act by the June 30 deadline this year.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
Modi shared the warmth of Chief Minister M K Stalin who briefly held the PM's hand and patted the back of the latter's palm while walking through the displays exhibited at the new Chennai airport terminal.
Sebi's new FPI regulation has helped attract new capital pool, up registrations.
These entities did not apply for renewal of their FCRA licence. In addition, the Union home ministry also rejected renewal applications of 179 organisations, officials said.
The behaviour of the foreign institutional investors is gauged from the numbers put out by the exchanges and regulators.
