India's foreign exchange reserves dipped by $1.327 billion to $317.313 billion in the week ended September 5 on a slide in the currency assets and gold stockpile, the Reserve Bank said.
The three-year tenure of Raghuram Rajan saw the RBI adding a net of $92 billion to the kitty.
Gold reserves declined by $346.2 million.
Foreign currency assets, a major part of the overall reserves, surged $493.2 million to $282.029 billion for the period under review, Reserve Bank of India said on Friday.
Pakistan singer Rahat Fateh Ali Khan, who was detained by the Directorate of Revenue Intelligence with $ 1.24 lakh undeclared currency, has left the country after paying a fine of Rs.15 lakh. Official sources said Khan left by an Emirates flight to Lahore via Dubai on Tuesday evening.
Earlier, Directorate of Revenue Intelligence officials questioned the singer extensively to find out where the money came from and why it was not declared.
Himachal Pradesh Chief Minister P K Dhumal on Saturday said his government cannot give any "clean chit" to Karmapa Ugyen Trinely Dorji, under ED scanner in a foreign currency haul case, as central agencies are probing the matter.
The Karmapa, in the eye of a controversy over huge haul of foreign currency from his transit home, on Monday got the backing of the Dalai Lama, who said the issue cropped up due to the carelessness of some of his aides.
Indian companies have raised over Rs 3.13 lakh crore up to September, excluding foreign currency convertible bonds (FCCBs) and external commercial borrowings in September. This is close to the cumulative Rs 3.14 lakh crore raised in 2009.Inc's highest fund mobilisation was in 2007, when it mopped up over Rs 3.20 lakh crore.
Headed by Deputy Director (North) V Neerja, the ED team reached the Gyuto Monastery at Sidhbari just before noon and had a marathon question-answer session lasting four hours and 40 minutes.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The rupee is being driven into a vicious circle.
In his address at the Reserve Bank of India's platinum jubilee celebrations in Mumbai, the prime minister said banks needed to provide instruments to Indian companies to help them manage their foreign currency risks.
Prime Minister Manmohan Singh has assured a Buddhist delegation that he will personally look into the case of recovery of foreign currency to the tune of Rs 7.5 crore from Gyuto Monastery, the transit home of Karmapa Ugyen Trinley Dorje, in Himachal Pradesh.
The Prevention of Money Laundering Act, 2002, requires all financial institutions, banks and intermediaries like merchant bankers, FIIs and stock brokers to submit reports on suspicious transactions above Rs 1 million in Indian or foreign currency. According to FIU's annual report for 2007-8, while the agency received 2.2 million such cash transaction reports from banks, other financial intermediaries put together have submitted only 2,500 suspicious transaction reports.
Facing severe attack in the wake of difficulties thrown up by demonetisation, the government on Thursday night extended till December 15 the facility of using old Rs 500 notes in public utilities
Foreign exchange reserves rose to a record $167.092 billion as on October 27 from $166.153 billion in the previous week, according to the weekly supplement released by the Reserve Bank of India on Friday.
GMR Infrastructure on Tuesday said it plans to raise Rs 50 billion (Rs 5,000 crore) by selling shares in domestic as well as international markets.
Himachal Futuristic Communications Ltd converted 64 foreign currency convertible bonds of $ 50,000 each into 58,70,769 shares of Rs 26 each.
The UFBU is an umbrella body of nine bank employees unions of the country and claims to have members from public, private and foreign banks. "We are on strike from today as Indian Banks' Association did not concede to the bank unions demand for the wage hike," said United Forum of Bank Unions convener C H Venkatachalam.
India's foreign exchange reserves rose $2.25 billion in the week ended November 5 to $300.21 billion on foreign portfolio inflows and changes in the value of global currencies.
The government has decided to do away with the various classifications of foreign investments for the purpose of calculating foreign investment in downstream companies.
The company held about $12 million worth of FCCBs in SpiceJet. Bank of America-Merill Lynch brokered the block deal for the company, said sources.
The country's foreign exchange reserves rose by $954.6 million to $294.36 billion on account of gains in the value of gold reserves, the Reserve Bank said.
Iron ore exporter Sesa Goa said on Friday it would raise Rs 6,000 crore by issuing various securities in domestic and overseas markets for funding its business plans.
The challenge for individuals is to consider several other factors that determine the manner of usage of this amount.
India's foreign exchange reserves surged by $1.26 billion to $292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.
The Central Board of Direct Taxes has advised its field formations to scrutinise all cases in which companies have amortised foreign exchange losses under the one-time discretion allowed by the government through an amendment to Accounting Standard 11 (AS-11).
Banking laws for NRIs allow for the following deposit schemes, or simply put, accounts with authorized dealers -- banks and financial institutions authorized by Reserve Bank of India to deal in foreign exchange -- to be maintained in Indian rupees and in foreign currency.
The 15 IT companies that have declared results so far together clocked 8.4 per cent growth in revenue, the slowest since 2001, largely due to a poor show from Wipro, Tech Mahindra and Polaris Software. But Infosys Technologies and TCS excel, with double-digit growth in year-on-year revenue from software exports.
The bonds will likely be simultaneously launched in major financial centres such as London, Singapore, Hong Kong, New York for a term of no less than 20 years.
Foreign currency assets, a key component rose $1.6 bn to $304.9 bn.
The rise in reserves was $2.12 billion.
India's foreign exchange reserves declined for the second consecutive week to $295.50 billion, down $12.6 million, in the week ended December 20, the Reserve Bank said.
There are few deals where the buyer and the seller both walk away happy. The SpiceJet deal is one, where each side had a price point for reference.
The depreciation in the yuan has led to a decline in all emerging market currencies
The board of Unitech Ltd, the country's second largest realty company, has approved a plan to raise Rs 5,000 crore through debt and equity issues and will convene an extraordinary general meeting on January 19, 2009 for shareholder approval. Sanjay Chandra, Unitech managing director, said today's proposal was a flexible enabling provision.
India's foreign exchange reserves fell by a significant $3.4 billion to $276.238 billion for the week ended May 7, as against $279.633 billion in the previous week, RBI data showed.
India's hopes of hosting a Formula One Grand Prix in 2011 are on track despite exchange control obstacles, according to Force India team owner Vijay Mallya.
The directorate said money was hidden inside books and greeting cards and could not have been easily detected by X-ray machines. The incident came to light after ED officials, acting on a tip-off, searched the regional office of the courier service in Naraina in Delhi.
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