The foreign agency has claimed four accounts held by the Jindals.
Ajit Balakrishnan offers a New Year resolution for our policy-makers.
The government on Friday said it has penalised Kingfisher Airlines with a fine of over Rs 26 crore (Rs 260 million) for delay in the payment of tax deduction at source (TDS).
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
The Central Bureau of Investigation is expected to question representatives of NGOs whose names have cropped up during its probe against a Home Ministry official Anand Joshi who was allegedly issuing notices of foreign remittances violations to voluntary groups in an arbitrary manner.
Bandhan expects to have a loan portfolio of Rs 14,500 crore.
Most investments by Indian corporate houses in the overseas market is through countries that have either low tax rates or allow tax-free remittance of income. Much of the outward foreign direct investment (FDI) by India Inc done between April and December 2007 was directed to Singapore, the Netherlands and British Virgin Islands (BVI), according to the latest Reserve Bank of India data. RBI said the actual outward FDI in April-December 2007 grew 13 per cent at $10.11 billion.
Latest data from the Swiss National Bank showed that money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
Indian expatriates in the United Arab Emirates have demanded a compensation package from the Indian government as the appreciation of the Indian rupee had impacted their remittances back home. The demand follows a study conducted recently by the Centre for Socio-economic and Environmental Studies, Kochi, which had focused on the impact of rupee appreciation on the economy of Kerala.
.jpg)
Reliance, Birla Group, Airtel eye small finance banks.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
Finance Minister P Chidambaram said on Tuesday the inflow of foreign funds in the banking system was not disorderly and could be channelled for productive use. There was large inflow of capital mainly from export earnings, remittances, foreign direct investment, foreign institutional investments and private equity, he said.
Experts say Indian students will have to accept that international space for them is shrinking.
Looking for crumbs from Obama doesn't say much for India Shining.
These are the Zipp money centres which are being introduced for the first time in the country by the Commonwealth Business Council (CBC), a forum formed in 1997 and which has inclusive banking interventions as one of its key projects. The money centres have already brought banking to the doorstep in many villages and far-flung areas in one district in Uganda where CBC started the project.
The Reserve Bank of India (RBI) has advised the public not to succumb to the temptation of fictitious offers of large funds through e-mails from unknown entities.The RBI clarified that under FEMA restrictions on transfer of funds also apply to lottery-like schemes functioning in different names such as money circulation scheme or remittances for the purpose of securing prize money/awards etc.
The Reserve Bank of India is expected to do a balancing act by further liberalising limits on the foreign exchange outflow to tackle the capital inflow and its impact on inflation. The central bank was likely to raise the limit on corporate investment abroad and the ceiling on individual remittances overseas. RBI has liberalised limits on the overseas investment by companies from 200% to 400% of their networth. Liberalisation is proposed since India has good forex situation.
Soon, one will be able to pay utility bills at the local supermarket, while buying groceries, with the RBI allowing the setting up of payment banks.
The Reserve Bank of India has restricted individuals from utilising the facility of $1,00,000 scheme for maintaining any kind of speculative positions in overseas markets.
Gurucharan Singh's Dhawan Creative apparently clocked trades 10 times its capital in a few months.
'The Saudis are in the driving seat in navigating the relations with India; they set its compass and calibrate its pace,' points out Ambassador M K Bhadrakumar.
A wide import-export gap led to India's current account deficit rising to $5.4 billion in the third quarter of 2007-08, despite a higher surplus of earnings from software services, tourism and remittances from abroad.A sharp rise in trade deficit due to rise in imports caused the current account deficit to rise by $1.7 billion from $3.7 billion in the corresponding quarter last year, the Balance of Payment Data released by the Reserve Bank showed.
India's foreign exchange reserves touched $301.23 billion by the end of February 2008. Over $102 billion have been added to the reserves since the beginning of the financial year (April 2007) due to huge capital flows, and remittances as well as weakening of dollar. The reserves stood at $294.61 billion at the end of February 22, 2008. The forex kitty swelled by $6.62 billion, amongst the largest accretion to reserves in a span of a week.
The crackdown on black money has manifested itself in a doubling in outward remittances as black money attempts to leave India.
The Commission observed vulnerability of junior untrained staff on probation and their misuse by senior officials.
The Reserve Bank of India has opposed the government's move to bring in a law to introduce a new reporting system for inward flow of foreign contributions.
It will carry out most banking operations like accepting deposits but can't advance loans or issue credit cards.
The Gulf countries, a major source of NRI remittances to India, have been experiencing unprecedented growth in the cost of living on the one hand and a steep decline in exchange rates due to most Gulf currencies' peg to the dollar.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Widening its probe in the Rs 3,600 crore VVIP chopper deal, the ED has begun a trail of "cash" which is suspected to have been paid as alleged kickbacks.
Kerala floods take a toll on small businesses, NBFCs brace for losses
Focus to be on unbanked areas; initial capital is set at Rs 100 crore; India Post can apply.
Bharatiya Janata Party chief Narendra Modi on Tuesday said that the land of tourism like Kerala has turned into "nursery of terrorism", as he accused the Congress-led government of ignoring the state's development agenda.
Unified Payments Interface launched to simplify mobile banking.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
The private IndusInd Bank plans to enter into strategic tie-ups with foreign banks in the US, UK and South East Asia for its expansion plans.
The Department of Posts will be launching its international money order service in March, which will enable money to be received at any place in the country from select countries within 48-to-72 hours at the most.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances