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.
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.
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
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.
Traditionally, issuance from Chinese companies dominate the green bond market, but other emerging market economies are coming up fast
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.
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.
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.
Rajan said an interest rate cut won't by itself lead to higher economic growth
Experts feel that this exercise would not be of much help as many facts are already known.
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
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.
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.
In 2016, almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from just one country, China, which was by far India's largest source of imports in that year
The huge pressure on the currency market largely went unnoticed because of the demonetisation exercise.
Former minister responds to Sheela Bhatt/Rediff.com's questions.
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.
PNB officials entered into a criminal conspiracy with 19 accused companies, the FIR alleges.
Former Union Minister Shashi Tharoor is back in the news over payment of money by the Organising Committee of the Commonwealth Games for consultancy services.
Brokerage firm CLSA says in its interactions with government officials, measures such as the dollar-deposit scheme were under consideration.
The Supreme Court on Thursday slammed the government again over the issue of illicit wealth parked in foreign banks, asking it to file a report on the action taken by it against people and firms that have stashed black money in tax havens abroad.
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