The rupee ended at a 2002 closing high against the dollar on Wednesday, boosted by robust remittances by exporters and banks going short on the greenback on hopes that more gains were in store for the local currency.
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.
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SBI will hold 30 per cent in RIL joint venture
India and Pakistan must reform their institutions of governance to accelerate economic growth on a sustained basis for poverty reduction, lawmakers and experts from both the countries attending a meeting in Dubai said notwithstanding the chill in bilateral ties.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
The government has set up a standing group on the economic fallout of the ongoing US-led war on Iraq to look into issues particularly related to exports, inward remittances, oil prices and tourism.
Robust trade flows and remittances by expatriates helped India's foreign exchange reserves rise for the 15th straight week to a record high, analysts said after the central bank released the latest data on Saturday.
After recording a massive jump of over $1 billion in the previous week, India's foreign exchange reserves crossed a record high level of $70 billion in the week ended December 27.
To curb the menace of illicit fund flows, the government has set up a high level panel that will look into trade-based money laundering activities which particularly involve manipulation of invoices.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
Nepal's macroeconomic performance has been held back by the earthquakes and the recent unrest and disruptions to transportation and trade routes following the promulgation of a new constitution, the IMF said has said.
Two Indian associates of alleged middleman Christian Michel James were on Saturday granted bail by a special court in a money laundering case relating to the Rs 3,600 crore VVIP chopper deal.
Following the surge in demand, Bitcoin is being quoted on Indian exchanges at 25-28 per cent higher than the international price, reports Rajesh Bhayani.
As part of efforts to boost revenue collection, CBDT has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Consumer products like mobile phones and laptops may become cheaper as the overall taxes on goods are likely to come down
The policy statement by the RBI governor is also expected to be upbeat.
The Delhi High Court on Friday questioned why Facebook Inc is not paying any service tax when Google is doing so and directed the Centre to file a "better affidavit" on the issue.
Want to know how to claim tax deduction on property income you earn? Do you know how to withdraw unclaimed EPF money?
The rupee ended at a new one-year closing high for the fifth day in a row on Friday, buoyed by increased dollar remittances by exporters in the belief that the currency was set to climb higher.
'A key trend that one should expect to see is tonnes of failures.' 'Several blockchain-focused companies will fail.'
Ending more than four decades of wait, India and Bangladesh will start the exchange of 162 adversely-held enclaves from Friday, marking the start of implementation of their landmark Land Boundary Agreement.
One can expect significant changes at India's banks in ensuing months.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
The RBI also looked into the effectiveness of systems and processes for implementation of KYC norms
Dubai, Singapore, London are the top overseas markets for Indians
ED failed to obtain evidence with regard to financial links about the purchase of an island in Scotland.
The vertical will be based out of Bengaluru.
In the aftermath of the Easter Sunday terrorist attacks, allegations have been made that the Muslim militants in Sri Lanka draw sustenance from India. An overarching impression is being created that the ISIS is gaining ground in India, points out Ambassador M K Bhadrakumar.
There would be an increase in NRI investment in India post elections.
'A fresh look is being given to ways of processing, transmission, and delivery.'
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
In worldwide trade, the US dollar retreated from its recent multi-year highs to trade subdued against major rival currencies
The payments banks are intended to house transactional accounts for individuals, focusing on payments and remittances.
Reduce frill expenses, monetise your assets and invest in professional development to negotiate the choppy phase.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
PM Modi to travel to Vietnam before going to China to attend G20 summit.
India's balance of payments in negative territory.
RBI had received 72 applications for small finance bank licences.
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