'I felt that the idea about putting money into bank accounts of the poor was a right one if implemented with sincerity'
Senior Bharatiya Janata Party leader L K Advani on Thursday reiterated the demand for a white paper from the United Progressive Alliance government on the action it had taken so far the bring back the black money stashed away in foreign banks by India citizens.
The Internal Revenue Service announced on February 8 a special voluntary disclosure initiative designed to bring offshore money back into the US tax system and help people with undisclosed income from hidden offshore accounts.
'Reservation for the private sector is a bad idea.'
"Was the government sleeping all these years on the issue of blackmoney," the Supreme Court on Thursday said while criticising Centre's probe restricting to an individual and being evasive about the idea of an investigation by the Special Investigating Team.
The issue of black money dominated in Lok Sabha on Wednesday with the Opposition asking the government to bring back an estimated Rs 25 lakh crore stashed away illegally in foreign banks and reveal the identity of depositors.
Prime Minister Manmohan Singh said there is "no instant solution" to bring back blackmoney stashed in foreign banks and that information with government cannot be made public due to treaty obligations.
In keeping with an announcement made by party leader L K Advani, Bharatiya Janata Party MPs from both Houses of Parliament on Friday submitted declarations to their respective presiding officers stating that they do not have any illegal money stashed in foreign bank accounts.
Ashvin Desai of San Jose has been indicted by a federal grand jury on three counts of tax evasion, two counts of willfully aiding preparation of false tax returns and three counts of failing to file reports of Foreign Bank and Financial Accounts, the Justice Department said.
Lashing out at the Centre for its midnight crackdown on protesters at Delhi's Ramlila Maidan, Rashtriya Swayamsevak Sangh chief Mohan Bhagwat has admitted that it had extended support to yoga guru Baba Ramdev's agitation.
The first step for the government to get out of this mess is to convince the public that they have taken note of its anger and are serious about dealing with this issue, suggests B raman
Bollywood actor Shahrukh Khan on Thursday said that Baba Ramdev's proposed hunger strike against corruption and repatriation of black money stashed in foreign banks, is politically motivated and he would not support the agitation.
Salaries of top management executives at private and foreign banks will have to be as per the Reserve Bank of India's guidelines from next fiscal, central bank said on Tuesday, while asking the lenders to start preparing for the new wage rules.
The Bharatiya Janata Party on Saturday accused the Congress-led United Progressive Alliance government of "lacking will" to recover the black money stashed in foreign banks.
The government on Saturday said it has served notices to 17 persons who allegedly kept untaxed money in foreign banks and prosecution has begun against them, but refused to reveal their names. The comments, made by Finance Minister Pranab Mukherjee, came a day after some media reports revealed names of 15 entities, including individuals and trusts, who allegedly kept illicit money in LGT Bank of Liechtenstein, an European country neighbouring Switzerland.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
The Centre on Friday declined before the Supreme Court to make public names of the people who have stashed black money in foreign banks, saying it is not possible to disclose information received from foreign governments under Double Taxation Avoidance Agreement.
In the wake of Supreme Court questioning the Government's reluctance to disclose names of Indians who allegedly stashed black money in foreign banks, The Bharatiya Janata Party charged Prime Minister Manmohan Singh with breach of parliamentary propriety by not keeping his promise made in Rajya Sabha to get back the money.
Bharatiya Janata Party state president Shamsher Singh Manhas said the menace of corruption has also gripped Jammu and Kashmir.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
The foreign bank had earlier pared its holding in the housing finance company from 11.4 per cent to 9.9 per cent.
Even as the Congress-led United Progressive Alliance government is at loggerhead with yoga guru Baba Ramdev over the latter's tirade against corruption and black money in foreign banks, Assam Chief Minister Tarun Gogoi has remembered that he had once ordered allotment of a plot of land to the yoga guru for his institution in Guwahati.
A bench headed by Justice B Sudershan Reddy asked the government to make its stand clear on setting up an SIT comprising officers from different departments, including the Enforcement Directorate, the Central Bureau of Investigation and the Income Tax department to look into it.
Taking on the United Progressive Alliance government, which had forced him to leave Delhi in the wee hours of Sunday morning, Baba Ramdev said, "Sarkaar vikaas nahi, Ramdev ka vinaash chahti hain (The government doesn't want development; it wants the destruction of Ramdev).
Activist Anna Hazare has decided to join Baba Ramdev in the latter's indefinite fast against corruption. Baba Ramdev is scheduled to hold an indefinite fast at the Ramlila Maidan in Delhi from June 4 to demand repatriation of the black money stashed in foreign banks. His supporters will also join him in the fast in 624 districts across the country to demand stricter steps to deal with corruption.Hazare has announced his decision to join the fast from June 5.
Experts feel that this exercise would not be of much help as many facts are already known.
A latest expose involving gross impropriety on the part of a government servant who has been dealing with sensitive issues and government institutions in New Delhi, is set to once again embarrass Manmohan Singh's government.
HASBC says India is a strategic market and one of the key profit centres.
Senior Bharatiya Janata Party leader L K Advani has apologised to Congress president Sonia Gandhi for a party-appointed task force report, which had alleged that she and her late husband Rajiv had accounts in Swiss banks.
Sukumar Mukhopadhyay, former member, Central Board of Excise and Customs, and Govindrao Adik, MP and General Secretary, NCP, debate the pros and cons of offering amnesty to tax evaders.
Rajan said an interest rate cut won't by itself lead to higher economic growth
Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping Rs 2.05 lakh crore, a highest of 6,811 cases were reported by the ICICI Bank.
Rashtriya Janata Dal chief Lalu Prasad on Tuesday said the government should disclose names of all Indians who have stashed black money in foreign banks and demanded that these money be brought back to the country and 'redistributed' among the poor.
Former apex court judge M B Shah will also be member of the SIT.
The court's remarks came after the government contended that it has got the information from the German government pertaining to the bank accounts of Indian citizens in Liechtenstein Bank there.
Traditionally, issuance from Chinese companies dominate the green bond market, but other emerging market economies are coming up fast
In the following pages is a list of some of the top banks that have a successful track record in India (not all banks have been featured in this list because of space constraints).
On instructions from Finance Minister Pranab Mukherjee, the Intelligence Bureau has taken up the task of identifying a sudden quantum jump in the amount of foreign money flowing in the country through withdrawals by foreigners on credit and debit cards issued by foreign banks.
On instructions from Finance Minister Pranab Mukherjee, the Intelligence Bureau has taken up the task of identifying sudden quantum jump in the foreign money flowing in the country through withdrawals by foreigners on credit and debit cards issued by the foreign banks.
Claiming that black money to the tune of Rs 500 lakh crore (Rs 500 trillion) was stashed by Indians in foreign banks, yoga guru Baba Ramdev has advocated for bringing that money back home.
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