FPIs net outflow at $ 3bn in 2016; worst in 8 years

Foreign funds pulled out more than 3 billion dollars, from the Indian capital markets in 2016, making it the worst period in last eight years in terms of foreign investments. Surprisingly, it is the debt instruments that have taken the biggest hit, after remaining a preferred investment avenue for f...

General Anti-Avoidance Tax Rule to kick in from April 2017

The General Anti-Avoidance Rule,GAAR, will kick in from April 1, 2017 said the Central Board for Direct Taxes today. GAAR was part of the 2012-13 Budget speech of the then Finance Minister Pranab Mukherjee to check tax evasion and avoidance. During the 2015 Budget presentation, Finance Minister Arun...

FPIs net outflow at $ 3bn in 2016; worst in 8 years

Foreign funds pulled out more than 3 billion dollars, from the Indian capital markets in 2016, making it the worst period in last eight years in terms of foreign investments. Surprisingly, it is the debt instruments that have taken the biggest hit, after remaining a preferred investment avenue for f...

China forex reserves fall by USD 320 billion in 2016

China's Central Bank says, the country's foreign currency reserves shrank last year, marking large annual losses for the 2nd year in a row. Officials at the People's Bank of China said today that foreign reserves stood at over three trillion dollars as of the end of Decemb...

India's Forex reserves up by USD 625.5 mn to USD 360.296 bn

India's foreign exchange reserves have recorded a rise of USD 625.5 million to reach USD 360.296 billion in the week ended 30th December 2016.A RBI press release has informed that foreign currency assets, a major part of the overall reserves increased by USD 612.4 million to USD 336.582 bil...

RBI to provide rupees 1 billion in Rs 100 notes to Nepal Rashtra Bank

The Rserve Bank of India, RBI, has agreed to provide rupees one billion in Rs 100 denomination notes to Nepal Rastra Bank (NRB) to ease the acute shortage of 100 Rs notes faced by the Himalayan nation.The NRB's plan to import INR 100 denomination notes was delayed due to the Indian governme...

US trade deficit in November rises to highest level in 9 months

The US trade deficit in November rose to the highest level in nine months as imports of oil and other foreign goods increased, while American exports fell for a second month.The Commerce Department reported today in Washington that the trade deficit jumped 6.8 per cent to USD 45.2 billion, the large...

US trade deficit in November rises to highest level in 9 months

The U.S. trade deficit in November rose to the highest level in nine months as imports of oil and other foreign goods increased, while American exports fell for a second month.The Commerce Department reported today in Washington that the trade deficit jumped 6.8 per cent to USD 45.2 billion, the lar...

India's GDP growth estimated at 7.1% this year; per capita net national income rises by over 10%

EPFO makes Aadhar mandatory for its pensioners & members

Employees' Provide Fund Organisation (EPFO) has made Aadhaar mandatory for its about 50 lakh pensioners and around four crore subscribers.Central Provident Fund Commissioner VP Joy said in New Delhi that the pensioners as well as members would have to provide Aadhaar or a proof that they ha...