The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
Migrants do many of the dirty and dangerous jobs in the region, from construction to the oil industry, transport and services
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
'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.
If you fail to carry out any transaction for 24 months through your bank account, it can be frozen.
Government on Monday formed a multi-agency group to monitor exposes in this regard and vowed to take action against all "unlawful" accounts held abroad.
India said it firmly believes that a peaceful and secure neighbourhood will yield "rich dividends" for SAARC nations.
CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Rajesh Bhayani highlights all that you need to know about the online currency.
The prospects for strong, sustained economic reforms do not appear to be promising in India.
Faced with a rising number of customer complaints on excessive charges, the Reserve Bank of India has asked the Indian Banks' Association to come up with guidelines on what the reasonable charges should be.
The widening of the CAD on a year-on-year basis was primarily on account of a higher trade deficit at $50 billion
RBI and Sebi should modify the structure of the currency futures market to permit settlement by delivery of dollars ONLY from an EEFC account, says Jamal Mecklai.
Sanjay Kumar Singh suggests key factors investors need to keep an eye on while choosing the direct investment route.
Payment banks may not be viable option to attain financial inclusion.
The central bank gave 11 entities licences to start payments banks.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
'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 steep fall in rupee came on a day when the Reserve Bank of India in its first quarter review of monetary policy kept the all key rates unchanged but cut the gross domestic growth forecast to 5.5 per cent for FY'14 from 5.7 per cent earlier.
The global recession is beginning to seriously hurt international migration, and many migrants are forced to go home again.
The Panama Paper leaks were originally revealed by the International Consortium of Investigative Journalists on April 4, 2016, following which, the government had set up the MAG to probe the matter.
The ED, in its chargesheet filed against Michel in June 2016, had alleged that he received 30 million (about Rs 225 crore) from AgustaWestland.
Currently, only three have completed more than six months of operation in the space - Fino Payments Bank, Airtel Payments Bank and Paytm
The foreign agency has claimed four accounts held by the Jindals.
Multiple organisations of different kinds with overlapping goals would be a dream situation for those who believe in competition and innovation.
Finance Minister Arun Jaitley said the magnitude of the alleged black money transfer through state-owned BoB will only be known after completion of the multi-disciplinary probe.
Global bank HSBC has launched a new money transfer service for Indians living in the Gulf in a bid to boost its share of the multi-billion dollar India remittance pie.
Experts say Indian students will have to accept that international space for them is shrinking.
Enforcement Directorate is jointly probing the case.
Some private banks offer easier platform to transfer money abroad, like ICICI's Money2World.
Kotak Mahindra Bank to have a 19.9% stake in the proposed banking venture.
'Make sure you provide enough support (income, nutrition, healthcare, and housing) to migrants stuck (and their households), so they are not compelled to seek work or migrate back.' 'Otherwise, the risk of contagion is extreme.'
The crackdown on black money has manifested itself in a doubling in outward remittances as black money attempts to leave India.
Looking for crumbs from Obama doesn't say much for India Shining.
The Reserve Bank of India (RBI) has advised the public not to succumb to the temptation of fictitious offers of large funds through e-mails from unknown entities.The RBI clarified that under FEMA restrictions on transfer of funds also apply to lottery-like schemes functioning in different names such as money circulation scheme or remittances for the purpose of securing prize money/awards etc.
The Central Bureau of Investigation is expected to question representatives of NGOs whose names have cropped up during its probe against a Home Ministry official Anand Joshi who was allegedly issuing notices of foreign remittances violations to voluntary groups in an arbitrary manner.
In an interview to Business Standard, Rangarajan says CAD will be brought under control at around two per cent of the gross domestic product.
The Reserve Bank of India is expected to do a balancing act by further liberalising limits on the foreign exchange outflow to tackle the capital inflow and its impact on inflation. The central bank was likely to raise the limit on corporate investment abroad and the ceiling on individual remittances overseas. RBI has liberalised limits on the overseas investment by companies from 200% to 400% of their networth. Liberalisation is proposed since India has good forex situation.
