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.
T K S Elangovan has alleged senior bank officials forged documents and faked authorisation from the RBI, to transport huge sums of hawala money during recent elections in the state.
The 30-share Sensex ended up 203.97 points to trade at 18,516.91 and the 50-share Nifty rose 63.30 points at 5,471.75 levels.
The broader markets gained with mid-caps and small-caps rising 0.7-0.9 per cent on the BSE.
Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
India will host the FIFA Under-17 World Cup football in 2017 with the world governing body awarding the right to host the prestigious tournament to the country in its executive committee meeting in Salvador da Bahia in Brazil.
Higher crude oil prices also translate into better corporate earnings for India's top companies
Payments banks are niche banks set up by the Reserve Bank of India to further the agenda of financial inclusion.
The Board of Control for Cricket in India on Saturday refuted allegations that it violated India's foreign exchange regulations while conducting the second edition of the Indian Premier League in South Africa in 2009, insisting that all the payments were "bona fide and legitimate".
'This prime minister thinks he knows everything.' 'He has to consult, he has to talk and he has to mobilise the best people, but having seen him function, I have no expectations from him.'
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Large state-run entities and business houses will not be allowed to set up small finance banks, which will have to comply with statutory reserve requirements.
Amid rupee sliding below 64 to a dollar, global agency Standard & Poor's on Tuesday said it will maintain negative outlook for the country as currency depreciation is adversely impacting investor confidence.
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On Wednesday, RBI reduced the cap on individual remittances abroad from $200,000 (about Rs 1.2 crore) to $75,000 (Rs 45 lakh) and also barred individuals from using funds under the scheme to buy immovable properties abroad.
Beginning with the bird's eye view of itself -- a narrow state of hills, rivers and high population density, in a tapering part of the Indian subcontinent. It can be a beautiful place shaped by aesthetic founded in appropriate lifestyle and progressive views, or a junkyard shaped by money and what money buys. The choice is Kerala's, notes Shyam G Menon.
FPIs, which are holding large exposures in Indian debt, could also be expected to book some capital gains as yields slide down
Commonwealth Bank of Australia on Wednesday opened its first Indian branch in Mumbai and became the only Australian bank to operate a full Indian banking licence.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
The Central Bureau of Investigation on Monday questioned former Indian air force Chief S P Tyagi and two others in connection with alleged irregularities in the AgustaWestland helicopter deal.
Bhupendra Kumar Modi is the founder of $2-billion Spice Group.
Whatever the critics may say, the numbers suggest that India continues to be a favourite destination for foreign investors.
Overseas Indian Affairs Minister Vayalar Ravi said the diaspora community has been contributing significantly to India's economy by sending billion of dollars in remittances and government is launching the scheme to support them on their return to the country.
Barring rice, spices, iron ore and pharmaceuticals, all the remaining 26 key sectors registered negative growth in May. Imports too plunged 51 per cent to $22.2 billion in May.
Because of India's weak fiscal position, the plethora of debt-burdened infrastructure companies and the poor asset quality of public sector banks, economic growth in 2015-16 may be limited to about six per cent, say Shankar Acharya.
Higher interest rates in the US do not necessarily coincide with capital outflows.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
The former RBI Governor also emphasised on the need to boost economic productivity and attract investments.
You can remit abroad or in India. Both entail their own risks.
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.
Diplomats agree that amid stormy relations with China and Pakistan, Modi has posted impressive foreign policy successes, notes Aditi Phadnis.
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.
The steep fall of the Rupee is not just making things scary for the Indian economy and economists.
'Organising Committee Commonwealth Games 2010 Delhi would like to state that we have followed due diligence in making all payments, getting the clearances from the Executive Board and from Reserve Bank of India for incurring the expenditure in foreign currency. All remittances happened against this clearance,' OC spokesperson Lalit Bhanot said in a statement.
He added that the risks can increase if the Chinese slowdown gathers more speed.
The key features of the product include a dedicated priority service platform, superior foreign exchange rates on inward remittances and lower service charges on banking services, a release said.
Ahead of his talks with the Emirati leadership, Prime Minister Narendra Modi has said the Gulf region is vital for India's economic, energy and security interests.
India cannot afford to be complacent about a possible Pakistan resort to military options across the LoC, warns Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
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.
This was announced by External Affairs Spokesman Vikas Swarup in New Delhi on Sunday.
The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade).
The government plans to transfer all subsidies including food, fertiliser and kerosene, potentially taking direct payments to more than $60 billion.
