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New Delhi [India], April 2 (ANI): The Reserve Bank of India (RBI) has allowed people to exchange Indian rupee notes at foreign exchange counters located in the departure halls of international airports, expanding an earlier provision that applied only to non-residents. In a circular issued on Thursday, the RBI said the decision was taken after reviewing the existing framework governing money-changing activities at airports. "On a review, it has been decided to allow residents (along with non-r ...Read More >
New Delhi, April 2 (SocialNews.XYZ) The Reserve Bank of India (RBI) has issued a compounding order on February 20 this year under Section 15 of the Foreign Exchange Management Act (FEMA), 1999, in the Rs 4.1 crore case filed against Vikram Mundlur, which has resulted in the termination of adjudication proceedings against him for contraventions of provisions of FEMA, 1999. The order has been passed by the RBI after issuance of a "no objection" statement by the Enforcement Directorate (ED) which ...Read More >
Plea filed by KIIFB challenging a notice issued against the board by the ED in connection with the usage of funds generated through masala bonds for infra development in the State. The ED had initiated proceedings under the Foreign Exchange Management Act. The Kerala High Court has issued a three-month interim stay on a notice issued by the Directorate of Enforcement (ED) to Kerala Infrastructure Investment Fund Board (KIIFB) on the utilisation of funds raised through masala bonds for the board ...Read More >
Kochi, Dec 17 (SocialNews.XYZ) The Enforcement Directorate (ED) on Wednesday moved a division bench of the Kerala High Court challenging a single-bench order that stayed further proceedings against the Kerala Infrastructure Investment Fund Board (KIIFB) over the utilisation of funds raised through Masala Bonds, escalating a high-stakes legal battle with significant financial and political implications. On Tuesday, the single bench of Justice V.G. Arun had granted an interim stay on the ED's enf ...Read More >
New Delhi, Dec 16 (PTI) HDFC Bank has got the Reserve Bank's nod to hike its stakes in another private sector lender, IndusInd Bank, up to 9.5 per cent. "We would like to inform you that the Reserve Bank of India (RBI) vide its letter dated December 15, 2025, has accorded its approval to HDFC Bank (applicant) to acquire 'aggregate holding' of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank," IndusInd Bank said in a regulatory filing. The RBI approval has been ...Read More >
NEW DELHI: The Enforcement Directorate (ED) conducted raids at 12 locations on Monday across Maharashtra's Nandurbar and Mumbai in connection with a money laundering allegation against religious educational institute Jamia Islamia Ishaatul Uloom. Law enforcement agencies last year found that two Yemeni nationals were illegally residing at the institute premise in Akkalkuwa, leading to the probe. Agencies also found that there were irregularities at As-Salam Hospital, run by the same trust, inc ...Read More >
Reliance Group chairman Anil Ambani will appear virtually before the Enforcement Directorate. He received a summons under FEMA related to a 2010 highway project. The ED is investigating alleged hawala transactions of Rs 100 crore. Ambani's spokesperson stated he will fully cooperate. The matter concerns a road contractor and a domestic contract. The highway project is now with the NHAI. Reliance Group chairman Anil Ambani has offered to appear before the Enforcement Directorate through "virtual ...Read More >
Hyderabad: The Directorate of Enforcement (ED), Hyderabad Zonal Office, on Friday conducted searches at five locations in the city targeting full-fledged money changers (FFMCs). The firms raided include Prism Forex Private Limited, Garuda Forex Services Private Limited, Sree Vimal Nath Forex Private Limited, Victory Forex and Travel Services Private Limited, and Digital Forex Private Limited. According to ED officials, the FFMCs and their managements were allegedly operating illegally without v ...Read More >
Flipkart and Amazon India have been under ED scrutiny for alleged breach of FEMA provisions. The Enforcement Directorate (ED) is learnt to have offered the option of closing a FEMA violation case against e-commerce major Flipkart if the Walmart group firm admits its mistake and pays a penalty, sources aware of the development said. The option was given by the Enforcement Directorate to Flipkart last week under the compounding rules of FEMA (Foreign Exchange Management Act). "ED has given the ...Read More >
The Enforcement Directorate (ED) searched 17 premises in Tamil Nadu and Kerala on Wednesday (October 8) as part of a big operation related to a case of smuggling luxury cars and breaching foreign exchange restrictions. The police searched the houses and belongings of Malayalam cinema stars Amit Chakkalakkal, Dulquer Salmaan, and Prithviraj Sukumaran. The operation covered 17 premises, including the residences and establishments of film stars Dulquer Salmaan, Prithviraj Sukumaran, and Amit Chak ...Read More >
The Enforcement Directorate has issued a crucial clarification regarding arrests. It states that digital or online arrests are not part of the anti-money laundering law. All arrests are conducted physically and in person, following due procedure. The agency also warned against fake summons being sent by criminals for cheating and extortion. There is no concept of digital or online arrest under the anti-money laundering law and the ED undertakes such a procedure only in person, the federal probe ...Read More >
The Enforcement Directorate is investigating Mammootty's Chennai property, a news report said. This follows recent raids across Kerala targeting luxury cars imported illegally. Dulquer Salmaan is seeking the release of his seized Land Rover Defender. The operation, dubbed 'Operation Numkhor', highlights a crackdown on tax evasion and irregular imports. The Enforcement Directorate (ED) is back in the headlines with a high-profile sweep involving Malayalam cinema stars. Mammootty's property in Ch ...Read More >
New Delhi Oct 8, (UNI) The Enforcement Directorate (ED) said today it has uncovered instances of con artists issuing fake summons to individuals in an attempt to extort money and derail investigations. The agency has vowed to take action against these fraudsters. "In the course of investigations, the Directorate of Enforcement issues summons under the provisions of the Prevention of Money Laundering Act (PMLA) and the Foreign Exchange Management Act (FEMA)," the ED stated. "However, we have no ...Read More >
Mumbai, October 1: The Reserve Bank of India (RBI) on Wednesday announced more measures to facilitate wider use of the Indian Rupee and local currencies in international trade transactions. "For months now, the government has been taking steps to internationalise the rupee, which refers to the process of making the Indian currency widely accepted and used for global trade, finance, and investment. We have been making steady progress in this regard," RBI Governor Sanjay Malhotra said. As a calib ...Read More >
MUMBAI: The Reserve Bank of India (RBI) on Wednesday announced more measures to facilitate wider use of the Indian Rupee and local currencies in international trade transactions. "For months now, the government has been taking steps to internationalise the rupee, which refers to the process of making the Indian currency widely accepted and used for global trade, finance, and investment. We have been making steady progress in this regard, " RBI Governor Sanjay Malhotra said. As a calibrated ste ...Read More >
Mumbai, Oct 1 (SocialNews.XYZ) The Reserve Bank of India (RBI) on Wednesday announced more measures to facilitate wider use of the Indian Rupee and local currencies in international trade transactions. "For months now, the government has been taking steps to internationalise the rupee, which refers to the process of making the Indian currency widely accepted and used for global trade, finance, and investment. We have been making steady progress in this regard," RBI Governor Sanjay Malhotra said ...Read More >
Guwahati (Assam) [India], October 1 (ANI): The ICC Women's Cricket World Cup 2025 opener between India and Sri Lanka set a new milestone in women's cricket, as Guwahati's Barsapara Cricket Stadium recorded more than 20,000 fans in the stadium at any Women's Cricket World Cup event. The game drew 22,843 fans at the ACA Stadium, a record for the most attended group stage fixture at any Women's World Cup. The previous record of 15,935 was set during the India-Pakistan ICC Women's T20 World Cup Gro ...Read More >
NEW DELHI: Enforcement Directorate on Tuesday searched six premises in connection with a case of money laundering against Anil Ambani and R-ADAG entities.Sources said the searches were a part of the investigation into overseas remittances by Reliance Infrastructure, allegedly in violation of certain regulations of Foreign Exchange Management Act (Fema).In a statement, Reliance Infrastructure said Tuesday's searches were related to matters dating back to 2010, when the company had awarded an EPC ...Read More >
New Delhi: The Enforcement Directorate (ED) on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said. At least six premises in Mumbai and Mhow in Indore were raided, they said. The searches are part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abroad, they ...Read More >
Mumbai: The Enforcement Directorate (ED) on Tuesday conducted searches at six premises of the Anil Ambani-linked Reliance Infrastructure Ltd (RInfra) in Indore (Madhya Pradesh) and Mumbai (Maharashtra) as part of its probe into alleged illegal remittances abroad, violating the Foreign Exchange Management Act (FEMA), official sources said. ED Probing Transactions With Yes Bank According to the sources, the current FEMA-related searches are linked to the Jaipur-Ringus Toll Road, operated by JR T ...Read More >
NEW DELHI: Enforcement Directorate on Tuesday searched six premises in connection with a case of money laundering against Anil Ambani and R-ADAG entities.Sources said the searches were a part of the investigation into overseas remittances by Reliance Infrastructure, allegedly in violation of certain regulations of Foreign Exchange Management Act (Fema).In a statement, Reliance Infrastructure said Tuesday's searches were related to matters dating back to 2010, when the company had awarded an EPC ...Read More >
Mumbai, September 30, 2025 - Anil Ambani-led Reliance Infrastructure Limited issued a statement on Tuesday addressing media reports about a survey conducted by the Enforcement Directorate (ED) under the Foreign Exchange Management Act (FEMA) at its premises. The company clarified that the survey pertains to a 15-year-old matter involving the JR Toll Road (Jaipur-Ringus Highway) project. In a filing with the Bombay Stock Exchange, under Regulation 30 of the Securities and Exchange Board of Indi ...Read More >
New Delhi, Sep 30 (PTI) The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said. At least six premises of some linked entities in Mumbai and Mhow in Indore were searched, they said. The surprise action was part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of ma ...Read More >
Mumbai, Sep 30: The Enforcement Directorate (ED) on Tuesday carried out searches at six premises in Indore and Mumbai in connection with a probe into alleged illegal remittances abroad by Reliance Infrastructure under the Foreign Exchange Management Act (FEMA). Path India Group under scanner According to reports, ED teams also raided the offices and homes of Indore-based Path India Group, a company under scrutiny for irregularities in toll road projects and other ventures. A team of officials ...Read More >
Mumbai, Sep 30 (SocialNews.XYZ) The Enforcement Directorate (ED) on Tuesday carried out searches at six premises in Indore and Mumbai in connection with a probe into alleged illegal remittances abroad by Reliance Infrastructure under the Foreign Exchange Management Act (FEMA). According to reports, ED teams also raided the offices and homes of Indore-based Path India Group, a company under scrutiny for irregularities in toll road projects and other ventures. A team of officials in multiple veh ...Read More >
New Delhi, Sep 30 (PTI) The Enforcement Directorate on Tuesday conducted searches in Maharashtra and Madhya Pradesh as part of a FEMA investigation being conducted against Anil Ambani Group company Reliance Infrastructure, official sources said. At least six premises in Mumbai and Mhow in Indore were raided, they said. The searches are part of a Foreign Exchange Management Act (FEMA) investigation being conducted against Reliance Infrastructure on charges of making some illegal remittances abr ...Read More >
PANAJI: The Enforcement Directorate has seized Indian currency to the tune of ₹2.25 crore in cash apart from foreign currency during searches carried out on Sunday and Monday at 15 premises in Goa, Mumbai, Rajkot and the National Capital Region, including Delhi, the agency said in a statement. The searches were carried out at premises related to Big Daddy Casino, M/s. Golden Globe Hotels Pvt. Ltd., and M/s. Worldwide Resorts and Entertainment Pvt. Ltd. and Golden Globe Hotels Pvt. Ltd. run two ...Read More >
Mumbai: The Enforcement Directorate (ED) Panaji Zonal Office, conducted a search operation at "Loja Shamu," a illegal forex exchange shop located in Mapusa Municipal Market, Goa, under the provisions of the Foreign Exchange Management Act (FEMA), 1999, on September 26. The action follows specific inputs from Airport Customs, Goa, regarding the seizure of foreign exchange worth approximately USD 35,000. The ED stated in a press release on Monday that during the operation it seized foreign curre ...Read More >
The banking regulator, through its internal investigation, found Simpl to be in violation of the Payments and Settlement Systems Act, 2007." The Reserve Bank of India (RBI) has asked Bengaluru-based fintech startup Simpl to halt all payment operations. In a letter dated September 25, a copy of which was reviewed by ET, the central bank stated: "The entity is directed to immediately stop the business of payment systems carried out by involving functions of payment, clearing, and settlement." Si ...Read More >
The Enforcement Directorate (ED) alleged that the B C Jindal group and its promoters transferred around ₹505 crore abroad through sham transactions. Searches were conducted at 13 Delhi premises of the group and its directors for suspected FEMA violations, including round-tripping via overseas entities Topaz Enterprise DMCC and Garnet Enterprise DMCC. ED claimed inflated valuations facilitated the transfers. The Enforcement Directorate (ED) on Wednesday alleged that the B C Jindal group of comp ...Read More >
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