India Post may be keen to apply for payment bank licence.
The probe is expected to take about three months.
NPA problem to continue for next 2-3 quarters: banks to FinMin
According to Trend Micro's January-March, 2014 Threat Round Up, as law enforcement agencies are slowly being ramped up, cyber criminals are adding more layers to ensure anonymity to conceal their identities to avoid arrest.
In yet another step to attract foreign money, the Reserve Bank of India (RBI) has allowed non-resident investors to acquire shares of listed Indian companies through stock exchanges under the foreign direct investment (FDI) scheme.
If the account in a foreign bank has income undisclosed to income tax authorities, or has funds from illegal sources, the account can be declared illegal, under the Fema.
Credit rating agency Moody's Investors Services said on Monday that it had upgraded India's country ceiling for foreign currency debt to Ba1, the top of the speculative grade, from Ba2 due to a substantial improvement in the external liquidity.
Exporters body FIEO said the slide in rupee, which closed at all-time low of 60.72 against the dollar, was a "serious" matter and asked traders to use derivatives to hedge the currency risk.
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
If you are planning for a long-term goal like your child's education in a foreign university, invest about 20% of your portfolio in foreign assets that can provide a hedge against the rupee's depreciation.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Record inflows of over $1.5 billion saw India's foreign exchange reserves cross $102.1 billion for the week ended January 2, 2004.
India's foreign exchange reserves crossed the $100 billion mark during the week ending December 19 and stood at $100.049 billion.
Irrational behaviour, born out of incomplete understanding, biases, overconfidence, fear or greed, has led investors to make less than half of what they could have in the capital markets, says Erik Hon.
The Reserve Bank of India has allowed investments by NRIs or Persons of Indian Origin in the capital of an entity or a proprietary concern on a non-repatriation basis, subject to certain norms.
The UAE exchange will launch an innovative remittance facility called wallet telephone software in Dubai on January 10 and later extend it to other Gulf countries and India.
As a part of its growth strategy, Dena Bank plans to open at least 40 'Finmarts', which will provide nine kinds of loans, across the country, a top bank official said.
In a bid to target Resurgent India Bondholders looking at long-term investment opportunities, SBI Life Insurance Company Ltd on Monday introduced 'Setubandhan', a policy aimed at non-resident Indians with an assured return of five per cent per annum.
Liberalising and simplifying the existing regulations, Reserve Bank of India on Wednesday said an individual resident may borrow up to $250,000 or its equivalent from close relatives residing outside India, subject to certain conditions.
A few adjustments can help foreign travellers and students reduce the impact of a falling rupee.
Concerned over terror funding, the World Bank and the IMF have launched an intense programme using a comprehensive methodology involving 75 client countries to identify the means of formal and information remittances used for money laundering.
India's foreign exchange reserves surged ahead in the first week of the new fiscal following fresh accretion of over $1 billion to move past the record levels of $112 billion during the week ended April 2, 2004.
The rise in India's foreign exchange reserves continued with further fresh inflows and export remittances of $595 millon pushing the forex reserves past the $71 billion mark during the week ended January 10.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
Since trading in virtual currencies is not illegal, they traded in cash or through barter in some instances.
India's foreign exchange reserves surged ahead by a record inflow of over $1.7 billion to touch $103.82 billion during the week ended January 9, 2004.
After a brief overnight pause, the rupee climbed to a new 38-month peak against dollar early on Tuesday. In hectic trade at the Interbank Foreign Exchange market this morning, the rupee breached the crucial 45.40-dollar barrier and touched 45.36/37.
Spurred by sustained heavy foreign funds inflows, export proceeds and expatriate remittances, the rupee surged by yet another 17 paise to hit a new 38-month closing peak of Rs 45.39/40 per dollar on Friday.
The foreign exchange reserves during the week ending February 14 rose by $616 million mainly due to foreign investments and export remittances at $75,283 million, according to Reserve Bank of India
India's top financial bureaucrat denied on Monday that the government was seeking dollar loans to repay some of its offshore debt.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
India's foreign exchange reserves surged ahead and crossed $68 billion due to inflows of continuous export remittances and revaluation of Euro vis-a-vis the US dollar.
India's foreign exchange reserves gained a record $828 million to $67.753 billion during the week ending December 6, 2002.
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