The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
South Africa will remain on the lowest 'level 1' of its five-level lockdown strategy to fight the COVID-19 pandemic despite the global panic around the detection of the Omicron variant in the country, President Cyril Ramaphosa has announced .
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
Remarks from Indian External Affairs are significant as it comes after China slammed Quad and said the formation of "exclusive cliques" targeting other countries runs counter to the trend of the times and is "doomed to fail".
Mu -- also known by its scientific name as B.1.621 -- was first identified in Colombia in January 2021, and since then, there have been 'sporadic reports' of cases and some larger outbreaks in South America and Europe, the United Nations health agency said in its weekly bulletin on the pandemic on Tuesday.
When a person gets an infection even after being vaccinated against it, it is called a breakthrough case.
Cases with the Omicron variant have already been detected in Karnataka and Gujarat.
Kovind, who is on his first visit to Ayodhya after the landmark 2019 Supreme Court verdict paved the way for the construction of the temple, also offered prayers at the Hanumangarhi shrine, about 2 km away.
Market regulator Sebi on Tuesday said foreign investors from Mauritius will continue to be eligible for FPI registration with increased monitoring as per international norms. The announcement comes after the tax haven was put on the "grey list" of Financial Action Task Force (FATF) -- an inter-governmental policy making body that sets anti-money laundering standards.
Digital payments and financial services firm Paytm has filed a draft red herring prospectus for its proposed Rs 16,600-crore initial public offering (IPO) with the Securities and Exchange Board of India.
Most of those who tested positive either recently arrived from African countries or were in contact with such people.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
A significant 69% respondents indicated keen interest to travel in 2021 post ease in restrictions with 18% ready to travel immediately post unlock and 51% within 3-6 months.
Foreign direct investment into India increased by 60 per cent to $4.44 billion in April as against $2.77 billion in the same month last year, government data showed on Wednesday. Total FDI, including equity, re-invested earnings and capital, rose 38 per cent to $6.24 billion in April this year, as against $4.53 billion in April 2020, as per the data. "During April, 2021 FDI equity inflows amounting to $4.44 billion were reported in the country which is an increase of 60 per cent over the FDI equity inflow of April, 2020 ($2.77 billion)," the commerce and industry ministry said in a statement.
Shares of the six listed Adani group stocks tumbled for the fourth day on Thursday, resulting in Rs 1.59 trillion market cap loss this week. Adani Power, Adani Total Gas and Adani Transmission hit their 5 per cent lower trading limit for a fourth straight day.
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
The report claims that the military experts who have analysed the evidence collected by its Investigative Unit say an airstrip under construction in Agalega will almost certainly be used for maritime patrol missions by the Indian Navy.
Foreign direct investments (FDI) into the country grew 19 per cent to $59.64 billion during 2020-21 on account of measures taken by the government on the fronts of policy reforms, investment facilitation and ease of doing business, the commerce and industry ministry said on Monday. Total FDI, including equity, re-invested earnings and capital, rose 10 per cent to the "highest ever" of $81.72 billion during 2020-21 as against $74.39 billion in 2019-20. "FDI equity inflow grew by 19 per cent in 2020-21 ($59.64 billion), compared to 2019-20 ($49.98 billion)," the ministry said in a statement. In terms of top investor countries, Singapore is at the top with 29 per cent share.
The clarification by the National Securities Depository (NSDL) - which is tasked with monitoring foreign portfolio investor (FPI) investment in domestic stocks - that the accounts of top investors in Adani group stocks remain 'active' has helped prevent a $500-million selloff of shares. Analysts said a freeze of the FPI accounts, as reported by some media outlets, could have prompted global index providers to cut weighting of four Adani group companies from their global indices. Brian Freitas, an analyst at independent research provider Smartkarma, said if the FPI accounts were indeed frozen, FTSE and MSCI would have reduced weighting of Adani group companies at the next rebalance, since it would have meant that the large part of the free float was not tradeable.
Though India's airlines are certainly bleeding, they haven't yet faced the ignominy of shutting down.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
Alert to the looming threat from the 'Omicron' variant, states began to re-tighten curbs and urgently trace people who arrived from abroad in the last one month while a demand to not allow flights from the affected countries was made by Delhi Chief Minister Arvind Kejriwal and Karnataka Chief Minister Basavaraj Bommai.
After a long hiatus of more than 20 months, the government had on November 26 announced the resumption of scheduled international commercial flights from December 15.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Intensifying its efforts, the Indian Navy has deployed nine warships to bring liquid oxygen and other medical supplies from several countries in Persian Gulf and south-east Asia as hospitals across India continued to reel under acute shortage of the life-saving gas following a massive surge in COVID-19 cases.
France on Sunday delivered to India 28 tonnes of ready-to-use medical supplies including eight large oxygen plants while the US sent to India a third flight that brought over 1000 oxygen cylinders
The medical equipment and other supplies were brought to Delhi in a C-5M Super Galaxy, one of the largest strategic airlift aircraft of the US Air Force.
The plan was to expand further, add more branches and also eventually become the third bank in India to start a wholly owned subsidiary after Singapore's DBS Bank and State Bank of Mauritius, but those plans never materialised due to lack of scale and rising non-performing assets in the country.
The combativeness reflects her insistence not to meekly acquiesce to what has been going on in Raisina Hill for years or decades, observes Kartikeya Tanna.
Antigua and Barbuda received 1,75,000 doses of COVID-19 vaccines out of which 40,000 were donated to the country under the 'Vaccine Maitri' initiative.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
The proceedings of Lok Sabha and Rajya Sabha were adjourned for the day on Tuesday amid continuous protests by opposition members over the Pegasus snooping row and farm laws, as they demanded that discussions be taken up on the issues in the House.
Prime Minister Modi has said India's vaccine production and delivery capacity will be used for the benefit of all humanity to fight the COVID-19 pandemic. He said last week India was ready to do everything possible for a healthy planet.
Out of the 45 lakh doses, the Hyderabad-based vaccine maker will be supplying over eight lakh to some of the friendly countries such as Mauritius, Philippines and Myanmar, free of cost as good will gesture sources added.
'Reenaji said they would be giving Rs 1.5 lakh to everyone, as the budget was very low.' 'So I blurted out, "Madam, do lakh toh hone chahiye".'
Foreign portfolio investors (FPIs) have pumped in a whopping $33.8 billion into domestic equities and debt till February 15 this fiscal year -- the highest since FY15 when it was nearly $46 billion --taking their net outstanding investments to a record $592.5 billion, as per a report. Of the total FPI assets of $592.5 billion, $537.4 billion were in equities and $51.38 billion in debt, according to the data collated by Care Ratings. The maximum holding is in financial services sector at $191.3 billion, followed by software ($76.1 billion), oil & gas ($50 billion), automobiles & auto components ($26.9 billion, pharmaceuticals & biotechnology ($22.8 billion), sovereign ($21.7 billion--debt), household & personal products ($20.2 billion), capital goods ($19.8 billion), food, beverages & tobacco ($15.7 billion) and insurance ($13.4 billion).
'The Modi government's lack of foresight has compelled India to become an importer of vaccines today and even now, their "vaccine strategy is flawed and discriminatory'
Companies wanting to consider treaty benefits and deducting tax at a lower rate will have to examine the qualitative factors. They will have to consider whether FPIs are liable to tax and whether they are the beneficial owner of dividend income.
Choubey said till February 4 total 81 AEFIs, which is 0.096 per cent of the total beneficiaries who have been administered Covaxin, have been reported.
'Rationalising TDS on dividends for FPIs to reduce it to treaty rates ranging from 5 to 15 per cent, depending on the country of residence of FPIs from current rate of 20 per cent will provide a big cash flow relief for FPIs.'
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