Amid escalation in violence in a number of Gulf countries, India on Thursday expressed deep concern over the rise of fanaticism, extremism and terrorism in parts of the Arab region, saying they are tearing apart the fabric of societies as well as affecting regional stability.
Non-reporting of overseas income by employers may be categorised as 'abetment' under the Act.
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
It would be a miracle indeed if we grow at 7/8 per cent a year over the current and next few years, says A V Rajwade
Banks to be permitted to raise long-term funds for lending to infrastructure sector with minimum regulatory pre-emption such as CRR, SLR and Priority Sector Lending.
Over the years, pravasis have become a constituency, to be tapped, cultivated, and honoured, or at the very minimum to be listened to, says Ambassador B S Prakash.
Migrant workers are leaving Gujarat, PM Modi's home state, as they have no work.
The trolls on Twitter, the rumour mongers on WhatsApp and the serial abusers on Facebook are the enemies of social media.
How long can Pakistan remain neutral in the Saudi Arabia-led Yemen conflict?
The prospects for strong, sustained economic reforms do not appear to be promising in India.
Launching a fresh attack on Defence Minister A K Antony, Narendra Modi on Tuesday charged that the country's defence had suffered seriously during his stewardship and said he owed an explanation to the people for this.
Bhupendra Kumar Modi is the founder of $2-billion Spice Group.
Finance Minister must be hoping that Indians get over gold-addiction.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
While the black money declarations may go up further once all the online and manual filings of undisclosed assets filed at the end of the four-month window on September 30 are compiled, the government will get this fiscal nearly Rs 14,700 crore or half of the total taxes due.
Here's a closer look at the showcause notices issued to Lalit Modi
Here's how NRIs can protect their overseas earnings from exchange rate risk.
India must reckon with the possibility that it will struggle to attract higher overseas investment.
King Salman and Narendra Modi will find common ground to intensify cooperation against jihadi terrorism, says Tarun Vijay, MP.
Banking as we know it will stand on its head in the next 10 years.
Challenges abound but innovation is key for new banks inorder to survive.
Raghuram Rajan explains the rationale for his policy stance and other issues.
Migrants do many of the dirty and dangerous jobs in the region, from construction to the oil industry, transport and services
Spectrum is critical for Tata Tele because in some circles, Rajasthan for example, it has spectrum only in 60 per cent of the geography, while allocation for the rest has yet to come from the government.
'The big elephant in the room is our misguided view about the rupee.' 'India is scared that if our currency appreciates, who will buy from us. But a breakout is inevitable.'
'Indian nationhood is indeed at the cusp of alarming redefinition -- hate-filled, and exclusionary.' 'Nations are not built this way, instead these are the ways of liquidating nations.' 'We must pre-empt it.' 'Can we?' asks Mohammad Sajjad.
While some are relatively new in this business, Vodafone, which has 1.8 million touch points in the country, has been offering basic banking and payment services through its pre-paid mobile digital semi-closed wallet called M-Pesa since 2012.
The court said it has decided to award imprisonment for life without any time frame to the 11, who have been convicted for murder, while requesting the state not to use its power to remit the sentence after 14 years of imprisonment.
Indians are the biggest non-Arab investors in Dubai's real estate market.
The Sharif group's website claims they are worth $300 million in business and $100 million in real estate holdings
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
Abu Dhabi-based serial entrepreneur BR Shetty walks us through his life and career and shares the imminent lessons he's learned.
It is mischievous to imply that the proposed bill to grant citizenship to persecuted Hindus, Sikhs, Jains and Buddhists from other nations implies that Muslims and Christians are not Indians, says Sanjeev Nayyar.
Oil Minister Dharmendra Pradhan had last month told the Parliament that his Ministry has disallowed RIL from recovering $2.376 billion invested to develop offshore Krishna Godavari gas fields as output has fallen drastically and was way below the promised volumes in past four years.
India on Wednesday asserted there can be no military solution to the lethal Syrian conflict and societies cannot be "re-ordered from outside" as people have the right to choose their own destiny.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
Paris attacks took the centre stage at the G20 Summit on Sunday with Prime Minister Narendra Modi calling for a united global effort to combat terrorism as world leaders joined a clarion call to eliminate ISIS network.
The Reserve Bank of India (RBI) on Thursday paved the way for niche banking by issuing draft guidelines for setting up payment banks and small banks.
It is time to take a few macroeconomic risks to kick start the growth.
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