RBI Also advises imposing a limit on these, beside mandating a system within two months to share information in this regard.
After three weeks of fall, India's foreign exchange reserve rose by $990 million to $248.611 billion during the week ended January 30, 2009, mainly due to revaluation in the foreign currency assets and gold reserves.
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India's trade deficit widened to $20.1 billion in May because of high gold imports while exports declined by over a per cent, raising concerns about economic recovery.
India's reserve position with the International Monetary Fund was down $4.4 million to $1.67 billion.
Bondholders rejects the company's proposal seeking four-month extension to repay debt of nearly $221 million. Group chief financial officer Kirti Vaga expects an acceptable solution at the earliest.
The CAD, which is the difference between inflow and outflow of foreign currency, 'widened from 5.4 per cent in Q2 (July-September) to a record high of 6.7 per cent of GDP in Q3, driven mainly by large trade deficit' RBI said in its report on Balance of Payments.
India's trade deficit has fallen to 10-month low of $14.9 billion in February on improving exports and a sharp drop in imports.
In its first bi-monthly policy, the RBI, in order to enhance hedging facilities for foreign investors in debt instruments, proposed to allow them to hedge the coupon receipts falling due during the next 12 months.
The rating agency was hopeful that RIL would sort out technical problems being faced at its flagship eastern offshore KG-D6 fields where output has almost halved in past two years.
Stating that a weak fiscal position continues to constrain India's sovereign ratings, Fitch said the next government's medium-term fiscal policy will be of particular importance from a rating perspective.
The latest crisis in the form of default to bondholders can be a crippling blow.
The foreign exchange reserves slipped by a hefty $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets, the Reserve Bank said on Friday.
The country's foreign exchange reserves rose by $1.73 billion for the week ended October 31 to $315.91 billion, show Reserve Bank of India (RBI) data released on Friday, marking one of the sharpest rises ever.
Much of this spending increase is the result from projected gains in the value of foreign currencies versus the dollar, it said adding that in constant currency, spending growth in 2013 is expected to be 3.9 per cent.
The reserves had dropped by $1.434 billion to $348.934 billion.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
Consider taxation and currency risks before choosing between NRI, NRO and FCNR accounts.
But weak global demand, costly imports play spoilsport
Banking and telecom will see the highest impact of this transition.
The period of respite may presage another period of extreme volatility.
Foreign exchange reserves dipped marginally by $237.5 million to $355.221 billion in the week to June 26.
The rating agency has affirmed the company's National Long Term Rating at 'AAA' with a stable outlook.
"It is a matter of disappointment that while understanding has been reached on most of the elements for facilitating the visit of pilgrims from India, Pakistan continues to insist on levying a service fee of $ 20 per pilgrim per visit," the MEA said.
With the Enforcement Directorate probing charges of Foreign Currency Regulatory Act violations by his trusts, Yoga guru Ramdev on Saturday accused the government of hatching a conspiracy to stop him from going ahead with his movement against black money.
The bank is offering a preferential rate on foreign currency conversion, giving special offers on housing loans and providing assistance for searching properties.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
US downgrade and the persisting euro zone debt crisis have raised doubts over global investors' appetite.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
Asserting that not allowing its officials to withdraw their salaries was in breach of Vienna Protocol, Pakistan has also threatened that in case the matter is not resolved soon, it may consider retaliatory action against salary disbursal for Indian diplomats there.
The yields on the US Treasuries that are used as a benchmark for pricing dollar-denominated bonds eased providing relief on overall pricing.
In a relief for Tibetan spiritual leader Ogyen Trinely Dorje, a court in Himachal Pradesh on Monday accepted the plea of the prosecution to drop the conspiracy charge against him in the case relating to recovery of foreign currencies from his monastery in January last year.
Total income rose to Rs 20,163.25 crore during the quarter as compared to Rs 16,832.22 crore in the same period a year ago.
The rupee on Thursday recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.
As many as 126 deals were carried out in which borrowers raised the money through external commercial borrowings (ECBs) and foreign currency convertible bonds (FCCBs), according to the data released by RBI.
Mallya had bought the pedigree scotch major, based in Scotland, for $1.2 billion in 2007.
The government said remittances from abroad will not attract service tax, putting to rest the concerns raised in view of new tax norms.
Vikram Lamba was carrying 13000 pounds and electronic and luxury items worth lakhs.
Moody's upgrade should start a long-overdue correction. Credibility of the big credit rating agencies is under threat.
Till now, apart from a few statements issued by his office, the young Karmapa Lama has refused to come out of his reserve and comment on the accusations levelled against him, particularly the cash donations received by his monastery but not deposited in a bank, and his relations with India. For the first time, he agrees to speak to Rediff.com, in an exclusive interview to Claude Arpi
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