Breaking the streak of continuous fall in outstanding amounts, non-resident Indian (NRI) deposits rose for the first time in the financial year to $134.54 billion in October 2022. The figure was $133.67 billion in September. Reserve Bank of India (RBI) data showed that NRI deposits were in shrinking mode for the first six months of FY23. They fell to $133.67 billion in September from $139 billion in March.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
It was not immediately known whether the deportees were in shackles, as the previous batch was.
The Securities and Exchange Board of India (Sebi) has permitted 100 per cent contribution from non-resident Indians (NRIs) and overseas citizens of India (OCIs) in the corpus of foreign portfolio investors (FPIs) based out of Gujarat International Finance Tec-City (GIFT City), the country's international financial services centre (IFSC). However, the Indian diaspora is yet to fully embrace this new route. The regulator allowed this route to enhance the fund ecosystem at GIFT City and attract genuine investments from overseas Indians.
Vadra has been questioned multiple times by the federal probe agency in a different money laundering case.
Punjab Police conducted raids and search operations at 1,274 immigration firms across the state to protect aspiring immigrants from falling prey to unscrupulous travel agents. The massive operation, carried out on the directions of Director General of Police Gaurav Yadav, was a response to the recent deportation of illegal Indian immigrants by the US. Many of the deportees from Punjab and Haryana have alleged they were duped by travel agents who promised legal entry to the US but instead used the "donkey route" - an illegal and risky pathway. Police have registered 24 FIRs against travel agents and arrested seven. The operation was conducted under the Punjab Travel Professionals' Regulation Act, 2012, which mandates travel agents to obtain a license, maintain records, and comply with other regulations. The police advised citizens to verify travel agents' credentials before entrusting them with documents and money.
"Mr Robert Vadra not only renovated the aforesaid property at 12 Bryanston Square, London through Sumit Chadha but also stayed in the same," it said.
Haryana Chief Minister Nayab Singh Saini has vowed to take strict action against travel agents involved in sending youth from the state abroad through illegal routes. He said the government is identifying those involved and will introduce a law to control illegal immigration. Saini also commented on the recent Delhi elections, praising the BJP's victory and criticizing former Delhi CM Arvind Kejriwal.
The 'NRI movie' appeared soon after Dilwale Dulhania Le Jayenge's blockbuster success.
As much Preity would like to be relieved of everyone's ebullient expectations of her, truth is few have fizzed up the silver screen like she has.
The Securities and Exchange Board of India (Sebi) on Tuesday announced that the top 500 stocks will be eligible for the same-day settlement cycle (T+0) in a phased manner. This move is seen as a fresh push to ready the market ecosystem to speed up the settlement cycle, which currently stands at T+1.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Despite rising inflows, many NRIs lack awareness about NRO and NRE accounts and mistakenly use family accounts or invest in a relative's name.' 'Many are unaware of tax implications.'
Stand-up comedian Kunal Kamra has once again found himself at the center of a controversy, this time for his comments about Maharashtra's Deputy Chief Minister Eknath Shinde. Kamra has been a controversial figure for years, with his comedy often targeting politicians and other public figures. This latest incident has led to a backlash from Shinde's supporters, who have vandalized the venue of Kamra's show. Kamra has a history of making controversial remarks, including heckling a TV anchor on a flight and making comments about the judiciary.
Daljit Singh, one of the 116 illegal Indian immigrants deported from the US on Saturday night, has claimed that they were handcuffed with their legs chained during the journey. Singh, who traveled via the 'donkey route', an illegal and risky pathway used by migrants to enter the US, said that he was deceived by a travel agent who promised him a direct flight to the US. The C-17 aircraft that landed at the Amritsar airport on Saturday was the second batch of Indians to be deported by the Donald Trump administration as part of its crackdown on illegal immigrants. A third plane carrying 157 deportees is expected to land at the Amritsar airport on Sunday.
rediffGURU Vipul Bhavsar answers readers' personal income tax queries.
Several Indian immigrants, including 30 from Punjab, were deported from the US after being apprehended at the border. They had paid hefty sums to travel agents who promised them a better life in America, only to be met with illegal crossings and harsh detention conditions. Their dreams are now shattered, leaving them with heavy debts and a bleak future.
Yaariyan Actor Himansh Kohli wed Vini Kohli in Delhi on November 12, and he posted quite a few pictures on his social media feed.
The second seasons of OTT's two best shows, Paatal Lok and Severance, coming up. Sukanya Verma lists your options.
Tax experts answer your budget-related queries
A US military aircraft carrying 112 Indian deportees landed at the Amritsar airport late on Sunday night, marking the third such flight in recent weeks. The deportees, who hail from various states across India, will be allowed to return home after completing necessary immigration procedures. The deportations are part of a crackdown by the Donald Trump administration against illegal immigrants.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The obsession for migrating to the US is visible mostly in Majha and Doaba regions of Punjab, he further said.
Privately, many bankers admit their immediate goal is not growth but slowing the erosion of Casa deposits, reveals Tamal Bandyopadhyay.
Flow of money into non-resident Indian (NRI) deposits moderated sharply to $3.23 billion in April 2021-March 2022 from $7.36 billion in the same period of the previous year. Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.
'I hadn't worked for three-and-a-half years.' 'I felt industry was based on who you knew.' 'I didn't belong to a network.'
If 74.9 per cent of NRI voters are from Kerala, Andhra Pradesh at 6.4 per cent, Maharashtra at 4.7 per cent, Tamil Nadu and Telangana at 2.9 per cent each follow way behind.
As Swades turns 20, Aseem Chhabra looks back at the film that spoke to him.
'Prime Minister Modi should sit with Trump and find a solution to this issue.'
If you don't make the necessary adjustments after October 1, 2024, you'll stop earning interest on accounts that aren't in compliance rediffGURU Milind Vadjikar
'Her story, her life, her aspirations and struggles...' 'Indian weddings are not just about fuschia, pink and dancing. They have many nuances.'
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
The Delhi Police Cyber Cell has arrested 12 people, including three HDFC Bank employees, for allegedly trying to withdraw money from the account of an NRI, officials said on Tuesday.
Credit card spending in September recorded strong growth of 25 per cent year-on-year (Y-o-Y), marking the highest increase in six months. Even as many banks saw higher slippages during the July-September quarter of 2024-25, spending growth exceeded 20 per cent for the first time since February. According to the latest data released by the Reserve Bank of India (RBI), September spending reached Rs 1.76 trillion, compared to Rs 1.42 trillion in the same period a year ago. In August 2024, credit card spending was Rs 1.68 trillion.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
A 29-year-old NRI who recently came to Vadodara in Gujarat from South Africa has been found infected with the BA.5 sub-variant of the highly-transmittable Omicron variant of coronavirus, a health official said on Tuesday.
Abhishek Bachchan conveys the numerous chapters and challenges his mind, body and soul go through with a never-before candour, observes Sukanya Verma.
Good, bad, evil, we saw a gamut of emotions on display in their most stirring form as actors reiterated their worth.
Sukanya Verma looks at their eclectic career of over two decades as their latest offering Citadel: Honey Bunny, the Indian leg of the Russo Brothers globetrotting spy universe series, drops on Amazon Prime Video on November 7.
