National & International Financial news and Updates

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ED sends show-cause notice to Bengaluru-based Devas Multimedia over FEMA violations

The firm allegedly violated FEMA rules over foreign direct investment to the tune of Rs. 578.54 crore during 2006-2010.

Jun 7, 2016

PM Modi gets Switzerland's support to tackle tax evasion

Switzerland's support to help India could be a stepping stone in probing black money parked in Swiss bank accounts

Jun 7, 2016

SBI launches ATM-based facility to e-verify IT returns

SBI is the first bank to launch Electronic Verification Code via ATMs.

Jun 4, 2016

SWIFT tells banks to share information on hacks

Banks use secure SWIFT messages for issuing payment instructions to each other.

May 21, 2016

India offers oil-for-drugs deal to recover $100 million from cash-strapped Venezuela

The South American country owes the amount to pharma firms such as Dr Reddy's, Sun Pharma and Glenmark for medicine supplies.

May 19, 2016

Only 0.06 percent of tax payers earned over Rs.1 crore a year in FY12

According to the income tax data, revealed after 15 years, there were 2.8 crore individual tax assessees during 2011-12.

Apr 30, 2016

Set up committee to look into PSU banks' write-offs, SC asks govt

A public interest litigation highlighted huge differences in the write-offs reported by banks individually and the RBI.

Apr 26, 2016

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Panama Papers: The 11.5m document leak explained

A massive leak of confidential documents has revealed how the worlds elite use offshore tax havens to hide billions.

Apr 4, 2016

India expects $500M AIIB loan for solar power projects in 2016

India needs $100 billion to increase its solar power capacity to 100 gigawatts over next six to seven years.

Apr 1, 2016

IFC issues $30 million in 15-year Masala bonds

Proceeds of the bonds will be used to advance private sector development in India.

Mar 17, 2016

Mumbai home to most ultra-HNIs in India: Wealth report

In the past 10 years, the growth in India's ultra-high-net-worth individuals outsmarted its global peers with a 340 percent rise over just 61 percent increase globally.

Mar 3, 2016

RBI asks banks to stop circulating faulty Rs 1,000 notes

According to an RBI spokesperson, the total number of faulty notes is not more than 500.

Jan 21, 2016

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Mark Carney: Now is not yet the time to raise interest rates

Bank of England Governor Mark Carney said on 19 January that he did not have a set timetable for raising British interest rates and wanted to see faster growth and stronger underlying inflation first. Carney said global and domestic growth had proved weaker than he had expected in the middle of the year, when he predicted that a decision on when to raise interest rates would have come into sharper relief by early 2016.

Jan 19, 2016

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