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.
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 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.
Close to 29 per cent of all complaints received from customers is related to ATM, debit card and credit card payments
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.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
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.
Since trading in virtual currencies is not illegal, they traded in cash or through barter in some instances.
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.
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.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
2017 saw the highest-ever mobilisation by way of IPOs of close to Rs 700 billion. The momentum is expected to continue this year as well.
Saudi Arabia relies more heavily on migrant labour than any other large country.
The Budget for 2016-17 has announced a massive rollout of ATMs and micro-ATMs.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
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
The CBI has shared its findings with the Enforcement Directorate.
'More than 900 companies believe that the majority of their employees worry about AI's role in potential job losses.' 'It makes employees anxious about working with machines or AI applications and fuels resistance to change,' says a Capgemini report.
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.
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.
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.
'What will this supposedly more business-friendly government do if it gets a second term?' 'Important labour law and land reforms remain off the table.' 'Witness the arm-twisting of foreign players in e-commerce and all but one player in telecom -- and it is very hard to justify this perception that the BJP is business friendly.' 'There will also remain the real risk of ideas seemingly gleaned from the pages of Amar Chitra Katha, overlaid with PowerPoint presentations,' predicts Rahul Jacob.
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.
The ED, in its chargesheet filed against Michel in June 2016, had alleged that he received 30 million (about Rs 225 crore) from AgustaWestland.
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.
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.
"As an organisation committed to the rule of law, our operations in India have always conformed with our national regulations. The principles of transparency and accountability are at the heart of our work.".
The policy statement by the RBI governor is also expected to be upbeat.
Consumer products like mobile phones and laptops may become cheaper as the overall taxes on goods are likely to come down
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.
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.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
One can expect significant changes at India's banks in ensuing months.
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.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
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.
SpiceJet in a statement said that there is no default in payment to AAI since January this year.
