The illicit financial inflow of $770 billion was 14 per cent of India's total trade of $5,500,744 million, the report said.
Taking a dig at Narendra Modi's demonetisation move, Uttar Pradesh Chief Minister Akhilesh Yadav termed cashless economy as a "bigger dream" than 'achche din' and said the note ban will be an issue in the upcoming assembly elections in the state.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Consumers worldwide overwhelmingly are ready to share their personal information to get better services from their doctors, bank and retailers, but they are cautious about how they share.
The department has warned taxpayers that illegal 'mobile applications' circulating in the webworld for smartphones, especially Android and BlackBerry phones, 'may not be according to the department's data structure' and parameters.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
The I-T department will rely on data analytical tools and run models to separate black money holders and genuine taxpayers based on the large data base being shared by banks.
Consumer loans or personal continue to record the highest fraud incidence.
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
A common factor that binds all these men is greed.
and three times when you should actually use them
In this year's budget, Finance Minister Nirmala Sitharaman hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
'It is strange a government that is bold and coercive has meekly chosen to do more of what has repeatedly failed to work in the past.' 'And sadly, rating agencies, the business community, fund managers, and analysts, who know this, have chosen to act as compulsive cheerleaders,' says Debashis Basu.
Ponzi schemes have characteristics that the informed investor can spot easily.
The news of Bengaluru-based IMA cheating thousands once again underlines the need for investors to steer clear of unregulated deposit schemes. The most important sign of a Ponzi scheme is the promise of exorbitant returns and so investors must ask how the promoter expects to earn the kind of return he is promising, says Sanjay Kumar Singh.
Fraud is a big concern among many board members.
The court directed Raju, the prime accused in Satyam scam, and others to furnish personal bond of Rs 20,000 each and sureties of the like amount on or before December 22 and posted the matter to the same date.
The Congress said arrogance of the BJP has touched its zenith as it turned 'blind' to farm distress.
Sebi first began looking into the matter last month.
'The UPA was the gang that couldn't shoot straight. The NDA is the gang that can't stop shooting. They (the Modi government) are shooting at anybody, everybody, all directions, shooting themselves in the foot.'
Here's a pick of what Warrenn Buffett had to say over the weekend, and his annual 'Woodstock for Capitalists'.
Kidney scouts roam around the labour markets in the poorest districts of Bihar, West Bengal, Uttar Pradesh, Tamil Nadu and Delhi in search of potential donors.
The drive against insider trading comes after SEBI last year received enhanced investigation powers from parliament, including the ability to monitor call records.
The workers who were hired straight out of school as unskilled labourers are now struggling to find alternative employment because they lack skills.
An FIR has been registered against Shivraj and his parents for allegedly duping a Mumbai businessman and his wife of Rs 13 crore (Rs 130 million) while he was out on bail.
Satyam Case has not ended after court verdict, there's lot to unfold say insiders.
'The UPA's claim of growth at 9.5 percent was absolute nonsense and a fraudulent claim because the country did not grow; it was only statistical growth.' 'I do believe that when there is a determined leader who wants to bring a desired change, the system will begin acting. Today, people think there is policy paralysis, but there is functional paralysis also.' 'When things start moving, people will invest. Many companies are holding cash, many people are not investing. Nobody is making any move. Everybody is waiting for the elections to get over.' Economist and Swadeshi Jagran Manch convenor Swaminathan Gurumurthy in conversation with Shobha Warrier/Rediff.com
The capital markets watchdog has asked the government to empower it to carry out search and seizure operations, to attach properties and to ask for information and records for all relevant entities.
As Rose Valley resurfaces, Sudip Bandyopadhyay and Tapas Pal's arrests marks the end of the bonhomie between the TMC and BJP.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
Biometric authentication is based on the unscientific and questionable assumption that there are parts of human body that does not age, wither and decay with the passage of time.
Sumedha Raikar-Mhatre examines the Marathi film industry, which annually produces around 190 dissimilar films that requires an investment of Rs 400 crores.
Chennai Super Kings and Rajasthan Royals were suspended from the Indian Premier League for two years for betting activities of their key officials, Gurunath Meiyappan and Raj Kundra, during the 2013 season of cash-rich Twenty20 cricket tournament.
Here is the full transcript of Congress vice president and Lok Sabha poll campaign chief Rahul Gandhi's first formal TV interview with Times Now Editor-In-Chief Arnab Goswami.
