Normally, it is required by the CBI to complete an investigation within one year of registration of a case.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
In its first move to significantly expand the fleet after the Tatas took over, Air India has leased 25 Airbus narrow-body aircraft and five Boeing wide-body planes. These will enter service starting December, the company said on Monday. A wide-body plane has a bigger fuel tank, allowing it to travel longer distances such as India-US routes.
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
Spending on international travel tripled in April 2022 as Covid-related curbs were eased in various countries in FY22.
According to sources, the NIA is trying to collect more information like Jaish-e-Mohammad as a terrorist organisation and its role in the attack.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
The amount of money Indians invested in foreign securities, property, and deposits in 2022 was likely the highest on record. At $2.1 billion, it was the largest spend for any 12-month period according to the Reserve Bank of India's (RBI's) data going back over a decade. The amount spent for each individual segment was also the highest.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
For the first time, the country's largest airline IndiGo will soon lease up to four wide-body Boeing 777 planes to cover the shortfall in its international operations, according to officials. The airline said the wet-leasing of "certain aircraft" will be done as an interim measure. IndiGo, which has so far only been operating narrow-body Airbus planes, ATRs and freighters, will now be having wide-body aircraft in its fleet.
It offers a real opportunity for the flag carrier to compete on the world stage, backed by a leading conglomerate with deep pockets like the Tatas, observes Indrajit Gupta.
'Today, 6th May 2021, on my birthday, am humbly donating my entire #IPL2021 commentary fees, to the #westbengal #CHIEFMINISTERRELIEF FUND. A small contribution to fight this disastrous 2nd wave Corona Situation.'
Speeding up its probe in a controversial defence deal that had surfaced last year, the Enforcement Directorate has recently sent judicial requests to the UK and Hong Kong in connection with its money laundering probe in the Tatra truck deal.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
'I believe the modified scheme is much more beneficial and simpler.'
'In investing, you have to first make sure you don't make big mistakes.' 'I would advise small investors to be systematic, don't be arbitrary; don't be on either end of the risk spectrum.' 'Don't go from fixed deposit to option trading or crypto trading.'
Widening its ambit of probe in the multi-crore 2G spectrum scam, the Enforcement Directorate has begun the process of issuing Letters Rogatory to at least 10 countries including Russia and the UAE to know the source of funding to telecom companies who were alloted the radiowaves.
Money sent abroad rises sharply in July; maintenance of close relatives, education expenses top the chart
Last October, the national carrier sold five planes of the same type to Etihad Airways for about $350 million.
The quizzing of the 48-year-old daughter-in-law of superstar Amitabh Bachchan and Samajwadi Party MP Jaya Bachchan comes weeks after her husband Abhishek Bachchan was questioned by the agency in another case emerging from the same set of papers linked to the offshore leaks case, they said.
Meridian Tech Pte has its development centre in Hyderabad.
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While the measures are aimed at moderating outflows, RBI added that genuine requirement beyond these limits will continue to be considered under the approval route.
The ED on Monday also examined the state-owned bank's executive director K V Brahmaji Rao to understand how the alleged fraud was detected and other banking procedures.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
Encouraged by foreign exchange reserves touching record levels, the Reserve Bank on Tuesday doubled the annual overseas investment ceiling for individuals to $2,50,000.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
At present, Air India offers eight first class, 35 business class and 195 economy class seats in its Boeing 777 200-LRs.
The Central Bureau of Investigation on Friday told the Supreme Court that 15 accused, including Chidambaram, his son Karti and some companies have been chargesheeted in the case.
Asthana was booked on the allegations of criminal conspiracy, corruption and criminal misconduct under relevant sections of the Prevention of Corruption Act.
To sell five Boeing 777s, replacing these with cheaper aircraft
Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement Directorate for allegedly cheating the PNB, the country's second largest lender, to the tune of more than $2 billion.
The future of cryptocurrencies in India appears uncertain but that has not deterred young Indians from embracing the so-called 'fourth industrial revolution' world, where interconnectivity and smart automation, much of it relying on blockchain technology, drive human civilisation. Reserve Bank of India (RBI) Governor Shaktikanta Das has repeatedly warned of macroeconomic instability and even "serious consequences" if cryptocurrencies turn mainstream. The country's monetary authority wants a China-like total ban on crypto, not even allowing these currencies to be treated as investments. Though Parliament's website had listed the Cryptocurrency and Regulation of Official Digital Currency Bill as one seeking a total ban of cryptocurrencies in the country, it was not presented in the Winter Session. India now has the highest number of cryptocurrency investors in the world.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
The airline flies these wide-body planes to the US, Europe, China, Japan, Korea and Saudi Arabia.
Special Judge Ajay Kumar Kuhar said the CBI demand was "justified" that Chidambaram has to be further interrogated in its custody.
The CBI suspects that Chidamabaram and his son Karti also received kickbacks from other companies.
A Letter Rogatory is a formal request from a court in India to a foreign court for judicial assistance. To be sent through a consular or diplomatic channel, the LRs are meant to get evidence.
Air India's entire European operations are carried out with Boeing Dreamliner planes.
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