FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
The Janata Dal-United president was, however, dismissive of any such suggestion and told reporters after the meeting that "too much was being read into" the meeting which, he insisted, was a usual interaction between the prime minister and a chief minister.
Even as Sebi probed, OFCD money moved across the globe, Aamby Valley (Mauritius) at centre of global transactions; All transactions legal, no Sebi bar on doing business: Sahara
Saisuresh Sivaswamy, who is accompanying President Pranab Mukherjee on his trip to Mauritius, reports on the spectacular celebrations of the 45th anniversary of independence of the island nation
Any form of entanglement with India or the US on the strategic plane will be anathema to Sri Lanka's Rajapaksa rulers, observes Ambassador M K Bhadrakumar.
Wajitpura village in Bihar's Patna district is gearing up to welcome a special visitor. The mehman (guest) is the rashtrapati (president) of a country once known as mirich desh by residents of rural Bihar and Uttar Pradesh many decades ago.
Companies wanting to consider treaty benefits and deducting tax at a lower rate will have to examine the qualitative factors. They will have to consider whether FPIs are liable to tax and whether they are the beneficial owner of dividend income.
The Budget has relaxed a few safe harbour rules that aim to make it easier for fund managers overseeing offshore India-focused funds to relocate to the country.
Prime Minister Narendra Modi on Saturday returned home after wrapping up his two-day Sri Lanka visit, the first by an Indian premier in over 25 years.
Prime Minister Narendra Modi's ambitions abroad may run the risk of foundering on constraints at home.
After a long hiatus of more than 20 months, the government had on November 26 announced the resumption of scheduled international commercial flights from December 15.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
The Enforcement Directorate, on Friday, issued a show-cause notice to actor Shah Rukh Khan, his wife Gauri, actor-friend Juhi Chawla and others for alleged loss of Rs 73.6 crore foreign exchange in a FEMA case related to the Indian Premier League.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
Saina Nehwal and P V Sindhu are on a collision course at next week's World Championships in Basel, Switzerland, as they have been placed in the same half after the world governing body re-conducted the women's singles draw.
The top posts on social media from your favourite Bollywood celebrities.
The queries, sent in November, were mainly about Capital Investment Trust, which the I-T department said, was used for the purpose of transferring foreign funds comprising global depository receipts (GDRs) of the value of $400 million to two Indian entities - Reliance Utilities & Power (RUPL) and Reliance Port & Terminal (RPTL), owned by the Ambani family. A show-cause notice issued on March 29 to Ambani's wife Nita, and their three children.
Alert to the looming threat from the 'Omicron' variant, states began to re-tighten curbs and urgently trace people who arrived from abroad in the last one month while a demand to not allow flights from the affected countries was made by Delhi Chief Minister Arvind Kejriwal and Karnataka Chief Minister Basavaraj Bommai.
The main sectors that receive the maximum foreign inflows include services, computer software and hardware, telecommunications, trading, construction, automobile, and power.
PNs allow such investors (primarily hedge funds, other leveraged investors and high net worth individuals) to enter and exit the India market without the need to register and establish settlement facilities and other requirements. Since it has been difficult for regulators to know those using PNs, questions on the source of such funds have risen.
The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
In a statement, the PMO said three vaccines are in advanced stages of development in India, out of which two are in Phase II and one is in Phase-III. It further said Indian Scientists and research teams are collaborating and strengthening the research capacities in neighbouring countries such as Afghanistan, Bhutan, Bangladesh, Maldives, Mauritius, Nepal and Sri Lanka.
The S&P BSE Sensex ended down 156 points at 25,597.
While Gupta, 60, can rightfully bask in the glory he has achieved for his bank in the subcontinent, his peers in foreign banks will have to revisit their India play, especially the local incorporation model, says Raghu Mohan.
India's shuttlers made it to the mixed team semi-finals after a resounding 3-0 victory over Mauritus at the Commonwealth Games, in Gold Coast, on Saturday.
HSBC is likely to raise up to Rs 2,450 crore (Rs 24.50 billion) by selling its stake in Axis Bank and YES Bank, said senior bankers familiar with the development.
'The Modi government's lack of foresight has compelled India to become an importer of vaccines today and even now, their "vaccine strategy is flawed and discriminatory'
Citigroup is likely to reduce its stake in Housing Development Finance Corporation (HDFC) to below 10 per cent, according to three people familiar with the development.
The actor has been asked to be present before the adjudicating authority of the case here on August 23, they said.
The investigation under FEMA was taken up by ED based on a reference received from RBI to investigate advance remittances received by certain entities for the purchase of the shares of Tamil Nadu Mercantile Bank through escrow mechanism maintained with Standard Chartered Bank, Mumbai.
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
At Rediff Labs, we analysed the data on military expenditure by Stockholm International Peace Research Institute.
An Air France flight from Mauritius to Paris was forced to make an emergency landing in Kenya early on Sunday after a suspicious package was found on board, Kenyan police said.
'Reenaji said they would be giving Rs 1.5 lakh to everyone, as the budget was very low.' 'So I blurted out, "Madam, do lakh toh hone chahiye".'
Realising that a 'taxing' calendar can drain you completely, rising Indian golfer Shubhankar Sharma is now focussing on improving his mental toughness ahead of the new season, during which he is set to make his Major debut.
Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
Media Firm Zee Entertainment Enterprise Ltd (ZEEL) sold its sports channel Ten Sports to Sony Pictures Networks for a US$ 385-million (about Rs 2,579 crore) in an all cash deal.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
This is the first time an Indian shipyard has been commissioned to design and build a warship to specifications formulated by a buyer country. This marks an important first landmark in the Bharatiya Janata Party-led government's drive to increase defence exports.
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