India's foreign exchange reserves surged ahead and crossed $68 billion due to inflows of continuous export remittances and revaluation of Euro vis-a-vis the US dollar.
India's foreign exchange reserves gained a record $828 million to $67.753 billion during the week ending December 6, 2002.
Ola was supposed to expand to the Netherlands, Kenya, Dubai, Israel, and Brazil.
The govt has a lot more to do then just open bank accounts for the poor in the Jan Dhan scheme.
Officials said the agency has sought property details on ten serving and retired officials of the ministry of defence and the IAF.
After a dip last week, India's foreign exchange reserves again went up to record highs and were nearing the $75 billion mark during the week ended March 28, 2003.\n\n
Deposits by NRIs with persons other than authorised dealers or banks, out of inward remittances from overseas or by debit to NRE or FCNR(B) accounts, will not be permitted with immediate effect.
The country's foreign exchange reserves jumped from $68.435 billion to $69.508 billion in the reporting period, according to Reserve Bank of India's weekly statistical supplement.
In yet another step to attract foreign money, the Reserve Bank of India (RBI) has allowed non-resident investors to acquire shares of listed Indian companies through stock exchanges under the foreign direct investment (FDI) scheme.
"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.".
Exporters body FIEO said the slide in rupee, which closed at all-time low of 60.72 against the dollar, was a "serious" matter and asked traders to use derivatives to hedge the currency risk.
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
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.
Unified Payments Interface launched to simplify mobile banking.
To deepen the financial inclusion process, and help get more people under the formal financial system, the RBI has mooted the idea of small banks and payments banks.
Prime Minister Narendra Modi asked G20 nations to freeze and repatriate unaccounted money hoarded abroad.
In a bid to target Resurgent India Bondholders looking at long-term investment opportunities, SBI Life Insurance Company Ltd on Monday introduced 'Setubandhan', a policy aimed at non-resident Indians with an assured return of five per cent per annum.
The UAE exchange will launch an innovative remittance facility called wallet telephone software in Dubai on January 10 and later extend it to other Gulf countries and India.
If you are planning for a long-term goal like your child's education in a foreign university, invest about 20% of your portfolio in foreign assets that can provide a hedge against the rupee's depreciation.
India still has to go a long way to implement reforms in various sectors.
The Central Bureau of Investigation has started fresh questioning of the cousins of former IAF chief SP Tyagi in the Rs 3,600 crore AgustaWestland VVIP helicopter deal in light of claims by alleged middleman Guido Haschke that he had paid money to them.
'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.
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.
Widening its probe in the Rs 3,600 crore VVIP chopper deal, the ED has begun a trail of "cash" which is suspected to have been paid as alleged kickbacks.
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.
Since trading in virtual currencies is not illegal, they traded in cash or through barter in some instances.
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.
Vaiko, who was present in the court, said he never sought any leniency.
The ED, in its chargesheet filed against Michel in June 2016, had alleged that he received 30 million (about Rs 225 crore) from AgustaWestland.
'Modi skillfully navigated Trump's ego and pushed the right buttons.' 'Critics assailed Modi's speech for its personalism, but in the Trump era this is par for the course.'
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.
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.
The niche banks - small finance and payments banks -have been set up to further the regulator's objective of deepening financial inclusion.
The probe is expected to take about three 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.
