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NEW DELHI, Oct. 1 (Xinhua) -- The Indian central bank, Reserve Bank of India (RBI), on Wednesday announced several measures to help exporters. The RBI Governor Sanjay Malhotra, in his statement after the culmination of the bank's three-day Monetary Policy Committee deliberation, said the export sector remains a vital part of India's economy. "To further strengthen the sector and enhance ease of doing business, we shall extend the time period for repatriation from foreign currency accounts of I ...Read More >
New Delhi, Oct 1 (PTI) The rupee recovered 12 paise from its all-time closing low to settle at 88.68 (provisional) against US dollar on Wednesday, as the Central Bank in its monetary policy decision announced a host of measures to support exporters and bring stability to the domestic unit. Forex traders said the rupee advanced against the US dollar as the Reserve Bank of India (RBI) left the repo rate unchanged at 5.5 per cent and maintained a neutral stance in its fourth Monetary Policy of FY2 ...Read More >
Mumbai: The Reserve Bank on Wednesday announced a host of measures to help exporters tide over challenges posed by the imposition of 50 per cent tariffs by the US administration on Indian shipments. The measures include reduced paperwork and compliance burden for small exporters and importers. "The export sector is a vital part of India's economy," said RBI Governor Sanjay Malhotra, while announcing steps to further strengthen the sector and enhance ease of doing business for traders. One of t ...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 >
New Delhi: The Reserve Bank of India (RBI), on Wednesday, announced several measures to help exporters tide over challenges posed by the imposition of 50% tariffs by the US. These include reduced paperwork and compliance burden for small exporters and importers. "The export sector is a vital part of India's economy," RBI governor Sanjay Malhotra said while announcing steps to further strengthen the sector and enhance ease of doing business for traders. Extension of the time period for repatria ...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 >
The rupee rose 3 paise to 88.72 against the US dollar, buoyed by falling crude oil prices and positive domestic equity markets, though FII outflows limited sharper gains. Markets are now awaiting the RBI's policy decision on Wednesday, amidst geopolitical tensions and the US imposing 100% tariffs on Indian branded drugs, with exemptions for US-based manufacturing. The rupee rose 3 paise to 88.72 against the US dollar in early trade on Tuesday on the back of a fall in crude oil prices and positi ...Read More >
Mumbai, Oct 1 (PTI) The rupee recovered 5 paise to 88.75 against US dollar in early trade on Wednesday, ahead of the Reserve Bank of India's monetary policy decision. Forex traders said the Indian rupee traded in a narrow range after it closed at its lowest on Tuesday, driven primarily by persistent foreign fund outflows and mounting trade concerns. Moreover, investors are also awaiting the Monetary Policy Committee decision of the Reserve Bank of India (RBI) for further cues. At the interban ...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: 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 >
Mumbai, Sep 30: The rupee fell 5 paise to an all-time low of 88.80 against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties. However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders. The markets are also awaiting the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday. At the interbank fore ...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, Sept 30 (Reuters) - The Indian rupee posted its fifth consecutive monthly fall against the U.S. dollar, and hit a record low on Tuesday, as trade tensions between India and the United States escalated, pushing up dollar demand. The rupee settled at 88.7875 against the U.S. dollar, its weakest ever closing level, and down slightly from its close of 88.7600 on Monday. Earlier in the day, the currency declined to an all-time low of 88.8000. The currency fell 0.7% in September, posting it ...Read More >
Mumbai: The Indian rupee slipped to a fresh historic low of 88.79 (provisional) against the US dollar on Tuesday, pressured by continued foreign capital outflows and growing concerns over global trade tensions. At the interbank foreign exchange market, the rupee opened at 88.73 and traded in a tight range between 88.69 and 88.80 before settling at 88.79. This marked a 4 paise drop from the previous closing rate. On Monday, the rupee had already ended lower by 3 paise at 88.75 per dollar. Accor ...Read More >
Mumbai, Sep 30 (PTI) The rupee fell 4 paise to an all-time low of 88.79 (provisional) against the US dollar on Tuesday, pressured by sustained foreign capital outflows amid global trade uncertainties. However, a steep fall in global crude oil prices, along with a weaker greenback, prevented a sharp decline in the local unit, according to forex traders. The markets are also awaiting the Reserve Bank of India's (RBI's) Monetary Policy Committee decision, which will be announced on Wednesday. At ...Read More >
New Delhi: Cash-strapped Vodafone Idea (Vi) has filed a plea in the Supreme Court, seeking waiver from paying interest, penalty and interest on penalty on adjusted gross revenue (AGR) dues demand raised by the Department of Telecommunications (DoT). Vi, in its application, has sought to amend its previous petition that sought quashing of the DoT's additional AGR demand of ₹9,450 crore till FY19. The amended application is now seeking exemption from the payment of interest, penalty and interest ...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 >
Panaji: The enforcement directorate (ED), Panaji zonal office, on Monday searched the premises of 'Loja Shamu' in the Mapusa Municipal Market, for allegedly unauthorised dealing in foreign exchange and seized foreign and Indian currency.The action was initiated based on information from the Goa airport customs regarding the seizure of foreign exchange worth approximately $35,000.ED said that during the search, foreign currency equivalent to approximately Rs 3 lakh, Indian currency amounting to a ...Read More >
New Delhi: Cash-strapped Vodafone Idea (Vi) has filed a plea in the Supreme Court, seeking waiver from paying interest, penalty and interest on penalty on adjusted gross revenue (AGR) dues demand raised by the Department of Telecommunications (DoT). Vi, in its application, has sought to amend its previous petition that sought quashing of the DoT's additional AGR demand of Rs 9,450 crore till FY19. The amended application is now seeking exemption from the payment of interest, penalty and interes ...Read More >
Mumbai, Sep 29 (PTI) Rupee consolidated in a narrow range and settled for the day lower by 3 paise at 88.75 against the US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments. Forex traders said rupee is hovering near its all-time low level as investors remained concerned over global trade uncertainties and impact of US visa fee hike on India's IT services exports. Moreover, the Reserve Bank of India (RBI) policy meeting outcome on October 1, is expected to ...Read More >
Panaji, Sep 29 (SocialNews.XYZ) In a crackdown on illegal foreign exchange trading, the ED conducted searches under FEMA, 1999, in Goa's Mapusa and seized foreign currency equivalent to Rs 3 lakh and Indian currency amounting to Rs 13 lakh, an official said on Monday. The searches at the premises of Loja Shamu, situated at 22, Mapusa Municipal Market, Mapusa, Goa, were conducted on September 26, the official said. The ED, Panaji Zonal Office, conducted the search operation on the basis of spec ...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 >
Mumbai, Sep 29 (PTI) Rupee consolidated in a narrow range and settled for the day lower by 7 paise at its all-time closing low of 88.79 (provisional) against US dollar on Monday, on persistent foreign capital outflows and rise in risk-off sentiments. Forex traders said rupee is hovering near its all-time low level as investors remained concerned over global trade uncertainties and impact of US visa fee hike on India's IT services exports. Moreover, the Reserve Bank of India (RBI) policy meetin ...Read More >
Mumbai, Sep 29 (PTI) Rupee rises 3 paise to 88.69 against the US dollar in early trade on Monday, tracking positive Asian currencies and weakness of the American currency in the overseas market. Forex traders said the rupee is trading in a tight range as it remains under pressure influenced by continued capital outflows and geo-political developments. Moreover, the RBI policy meeting outcome on October 1, is expected to influence the rupee and government bond movements. At the interbank forei ...Read More >
Mumbai: India's top gold jewellery and bullion trading lobby has demanded regulatory intervention to make the country's largest commodity exchange and mutual funds accept Indian-refined gold and silver bars. Making Indian-refined bullion bars (India Good Delivery) acceptable by Multi-Commodity Exchange of India (MCX) and exchange-traded funds would be in line with Prime Minister Narendra Modi's "vocal for local" exhortation and would save precious foreign exchange, the India Bullion & Jewellers ...Read More >
Chennai, Sep 27 (SocialNews.XYZ) Marumalarchi Dravida Munnetra Kazhagam (MDMK) general secretary Vaiko has warned that the United States' latest decision to impose a steep 100 per cent import duty on medicines could deal a severe blow to India's pharmaceutical exports and trigger a wider trade crisis. Quoting data from the World Trade Organization (WTO), Vaiko said pharmaceuticals form India's single largest industrial export segment. Each year, India ships about $12.7 billion worth of medicin ...Read More >
New Delhi, Sep 27 (SocialNews.XYZ) The addition of over 10,000 new medical seats by the Union Cabinet recently is another step towards India achieving universal healthcare, according to an official statement on Saturday. On September 24, 10,023 new medical seats across existing government colleges and hospitals were approved by the Cabinet chaired by Prime Minister Narendra Modi, with an investment of Rs 15,034 crore. The move is part of a broader vision to create 75,000 additional medical sea ...Read More >
Hassan was arrested for his "pivotal role" in "misleading" innocent people and "mobilising" public deposits to launder proceeds of crime through the QFX scam, also known as the YFX, BotBro, BotAlpha, Crossalpha and Minecrypto scam, the ED said in a statement. This was the second arrest the ED made in this case over the past week. Harinder Pal Singh, a "top agent", was arrested by ED on September 17. Singh "identified" Hasaan as the "leading" agent currently active in the western Uttar Pradesh ...Read More >
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