The Enforcement Directorate has issued a Rs 466-crore FEMA show cause notice to Kerala CM Pinarayi Vijayan, former finance minister Thomas Issac, and the CM's chief principal secretary K M Abraham in the KIIFB Masala Bond case.
The 71-year-old politician has been asked to depose at the agency office in Kochi on January 12, they said.
In order to provide relief in respect of gains arising on account of appreciation of rupee against a foreign currency at the time of redemption of masala bonds to secondary holders, the government has decided to amend the Income Tax Act.
If the view is that rupee will depreciate, hedge your exposure by using forward cover
Companies stand to benefit in longer term from comparative pricing landscape
The stock exchange BSE has called off the merger of its unit at the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC), India International Exchange (India INX), with NSE International Exchange (NSE IX), a similar unit floated by rival National Stock Exchange (NSE), according to sources familiar with the development. BSE and NSE had been in discussions for the merger for over a year, but it has yielded no results, they said.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
To spur war among lenders to grab existing loans
The government would also take steps to promote exports and restrict non-essential imports, said Jaitley
No capital came in through the approval route, while the rest of $9,86,681 was by way of issuance of rupee denominated bonds.
The first tranche was raised a few weeks ago and the company was looking to raise more if needed.
Exemption limits, standard deduction on radar.
New Development Bank plans to issue $300-500 mn worth masala bonds in rupee: K V Kamath.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
They now believe their money will be repaid after completion of the tenure of the instruments they have invested in, says Anup Roy.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
In India post the success of masala and green bonds on the LSE, Nikhil Rathi tells Rajesh Bhayani that there are many international investors interested in buying into the India story
The Kerala chief minister's four years in office may well be remembered for the way he handled Cyclone Ockhi, two floods, Nipah, and now COVID-19, reports Shine Jacob.
The measures to reduce the current account deficit should have focused far more on narrowing the trade imbalance, principally through export facilitation and linked FDI, says Nitin Desai.
Infosys slipped nearly 9% after the company cut full year revenue outlook for FY17.
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
In simple terms, it refers to a deduction allowed in income tax, irrespective of expenses incurred or investment made by assessees.
A long term solution to reduce India's Current Account Deficit will be to increase India's share of global merchandise exports, so that we are able use our exports to fund our imports, points out Chidambaran G Iyer, Senior Fellow, Pahle India Foundation.
In an email interview with Ranju Sarkar, International Finance Corporation's South Asia director Mengistu Alemayehu explains why the firm is bullish on building affordable homes in India.
The exchange, say sources, began mock trading from early October and around 250 Indian brokers have said they'd take membership of the international exchange.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
'The Chinese devalued the yuan initially but then stopped'.
Rajan, as expected, furthered his predecessors' agenda and continued with the same resolution to make India's financial system safer, and direct the economy towards further liberalisation
There were heightened expectations from Budget 2017 after the impact of note ban on different sections but most remain unfulfilled.
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