FOREIGN EXCHANGE RESERVES
ED arrests Robert Vadra's aide Thampi for FEMA violations
The Enforcement Directorate (ED) on Monday arrested CC Thampi of Holiday Group, a "...
ED arrests NRI businessman Thampi in PMLA case linked to property deals
The Dubai-based businessman has also been summoned by the agency in t...
NSE turns world’s largest exchange in derivatives trading
NSE notched up 6 billion contracts traded volume in 2019, up 58% from a year ago, s...
RBI says crypto not banned, but don’t bank on it
The central bank said this in a response to a petition filed by the Internet and Mobile Association of India (IAMAI), which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies. RBI said it had not banned crypto but only ringfenced regulated entities like banks from risks associated.
Edelweiss group chairman dismisses allegations of violating foreign exchange regulations
Edelweiss is a home-grown professional financial services group built over 25 years by more than 11,000 employees and 2 million customers. The group has many large, Indian and foreign customers, investors and partners as the company cities endorsing ita governance standards.
Forex reserve rises $58 million to record high of $461.21 billion
In the previous week, the reserves had increased by $3.689 billion to $461.15 billion.
Trade deficit checks: Curbs on duty-free cigarettes, liquor proposed
While the government doesn’t maintain data on imports coming through the duty-free channel, liquor, cigarettes, chocolates and perfumes are the biggest purchases at Indian airport stores. “While there is no trafficking of these products at present, controls on duty free goods will lead to smuggling,” said an expert on condition of anonymity.
View: India can become a rule-maker in the global oil trade instead of the rule-taker it is today
India needs to push for a bigger role for its exchanges and currency in the oil trade.
Working with India on pact against unilateral US Sanctions: Sergey Lavrov, Russia’s foreign minister
Against the background of the increasingly aggressive use of financial sanctions by the US administration, Russian policy is aimed at gradual de-dollarisation of the economy. Together with our main partners, including India, we are working on developing economic and legal mechanisms to reduce the negative impact of restrictions, asserted Russia’s foreign minister.
SEZ eligibility may now depend on new jobs, R&D and not forex
The commerce department has proposed to replace the positive net foreign exchange (NFE), a primary requirement for SEZ units, with the new eligibility criteria in the wake of the extant SEZ policy being challenged in the World Trade Organisation (WTO), and a panel led by industrialist Baba Kalyani suggesting a revamp of the policy, officials aware of the development said.
India allows late foreign-exchange deals to lure trade home
London has overtaken Mumbai to become the top center for trading the rupee
ED summons Congress leader K J George
After D K Shivakumar, K J George is the second Congressman in Karnataka to get the ED summons. George has been asked to appear before the agency on January 16, along with a set of documents including bank accounts, properties owned, copies of income tax returns, business details in India and abroad.
Edelweiss Financial Services asked to appear before ED on Wednesday
The development follows the statement by the company's Chairman Rashesh Shah stating the firm has no relationship with Capstone Forex, which is being investigated by the ED for foreign exchange rules violation. The ED had recently summoned Shah in connection with the company's dealings with Capstone Forex Pvt Ltd.
Supreme Court orders ED to attach corporate properties of JP Morgan for violation of FEMA in Amrapali case
The Supreme Court also allowed the ED to take into custody the defunct group's CMD, Anil Kumar Sharma, and two other directors, Shiv Priya and Ajay Kumar, who are behind bars on the top court's order, for interrogation as regards alleged money-laundering offences.
India banks on swelling forex kitty amid West Asia conflict
India’s foreign exchange reserves rose by $64 billion in 2019 to touch $457.5 billion.
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