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.
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.
'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.
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.
With terror and investments high on his agenda for talks with the UAE leadership, Prime Minister Narendra Modi on Sunday began his two-day trip to this strategic Gulf nation with a visit to the historic Sheikh Zayed Grand mosque, the world's third largest.
Upcoming payment banks will lift lower income groups in distant villages.
The limit under the Liberalized Remittance Scheme (that was earlier $200,000 and now brought down to $75,000) is applicable per person per financial year.
There have been two changes announced so far as MF taxation is concerned.
India still has to go a long way to implement reforms in various sectors.
Prime Minister Narendra Modi's success at courting Indians abroad have been as much a result of his old contacts as efforts by a dedicated arm of the BJP abroad. Archis Mohan reports
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
'Here is a man who can steer the country out of the woods. That sense of hope towards Modi was already there. And now that he has actually visited this region, it will go to the next level.' Zafar Sareshwala, a close confidant of Prime Minister Narendra Modi, shares his impressions about the PM's historic visit to the United Arab Emirates.
Do not declare them under Income Tax.
The Election Commission must ensure that soldiers, paramilitary forces and railway employees who work outside their home states are given proper avenues to cast their votes, says Colonel Anil A Athale (retd).
'India today has to fight many a battle, all of which cry out for innovation. This is where the experience of the Diaspora could be the most productive well-spring.'
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
K Pandia Rajan, an expert on the employment scene and recruiting speaks on the buoyancy in the Indian economy and what youngsters can look forward to.
The administration and America Inc have invested in Narendra Modi's power to transform India. Aziz Haniffa/Rediff.com reports from Washington, DC.
Disgraced Chinese leader Bo Xilai's high-profile trial was abruptly adjourned after prosecutors produced more evidence to nail the former Communist strongman, who in turn described his ex-police chief and a key witness as a "liar with extremely bad character."
'Though federal, the Constitution is unitary in nature. All matters relating to revenue are centralised. It is necessary that matters related to finance have to be decentralised... States need more freedom in designing schemes with their interest in mind. There has to be a Constitutional amendment to give more powers to the states. A special session of Parliament should amend the Constitution, especially the 7th Schedule,' Kerala Finance Minister K M Mani tells Rediff.com's Shobha Warrier.
While even the Opposition doesn't believe that Kerala Chief Minister Oommen Chandy is personally involved in the solar scam, the Congress leaders reputation has been tainted. And while he tells Indulekha Aravind that it is only a conspiracy, it may have a bearing on the coming general elections
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