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Directorate of Enforcement (ED) carried out search and seizure operations under the provisions of FEMA, 1999 on May 22-23 at 25 premises in Delhi (11), Gujarat (7), Maharashtra (4), Madhya Pradesh (2) and Andhra Pradesh (1) in relation to the investigation being done against foreign registered Online Gaming companies/websites operating in India. These online gaming companies/websites are registered in small island countries like Curacao, Malta and Cyprus. However, all of them are linked to Indian Bank Accounts opened in the name of proxy persons who have no links with online gaming activity. The amount so collected from general public through gaming websites is then routed through multiple bank accounts and finally remitted out of India by mis-declaring the purpose of remittances against import of services / goods. Remittances out of the income from racing/riding etc., or any other hobby are not allowed under the provisions of FEMA, 1999.
We want to become energy exporters to world, said Nitin Gadkari at CII event on hydrogen fuel. "Hydrogen is futuristic fuel, which can be used in chemical, steel, pharma industries. The industry must give Mission Hydrogen utmost priority," he added.
India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said. On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements"
While speaking at the Plenary Session with at the Confederation of Indian Industry Annual Session 2023, the RBI Governor Shaktikanta Das said that the IMF's World Economic Outlook of April 2023 projects global growth to decelerate from 3.4% in 2022 to 2.8% in 2023 before rising again to 3 per cent in 2024.
Shinde and Fadnavis inspects the under-construction Mumbai Trans Harbour Link (MTHL)
Road infra not only transformed tremendously but is also moving towards green, pro-planet construction: Bajaj
Siddaramaiah says Ministers will be allocated portfolios soon; Bommai questions delay
Karnataka Chief Minister Siddaramaiah on Wednesday said Ministers in his cabinet will soon be allocated portfolios, after the opposition BJP raised the issue in the state assembly.
The CM gave the assurance in the House, in response to a question raised by former Chief Minister Basavaraj Bommai of BJP, over the delay in allocation of portfolios to the Ministers.
Siddaramaiah and state Congress President D K Shivakumar were sworn in as Chief Minister and Deputy Chief Minister respectively along with eight legislators as Ministers on May 20. Portfolios have not been allocated to the Ministers since then.
Rs 3 trn worth development work is being done in NE: Gadkari
We are creating several logitics parks there.
Hydrogen is futuristic fuel: Nitin Gadkari
Getting rid of pollution is important: Gadkari
For roadside development, we want to develop industrial clusters and logistics parks: Gadkari
Green expressways and economic corridors will reduce logistics costs significantly: Gadkari
Tourism in India has shown great progress, has much greater potential going forward: Gadkari
Public EV transport should be prioritized: Gadkari
We need 2 lakh E-buses for this.
50% production of e-scooters in India is exported.
E-Rickshaws a success, so are e-buses
Making issues out of non issue is most unfortunate: Joshi on boycott of new Parliament building inauguration
Kejriwal meets Uddhav to seek support for fight against Centre's ordinance on control of services in Delhi
Delhi Chief Minister Arvind Kejriwal met Shiv Sena (UBT) head Uddhav Thackeray at the latter's residence in Mumbai on Wednesday to seek support for the AAP's fight against the Centre's ordinance on control of services in Delhi.
He was accompanied by Punjab Chief Minister Bhagwant Mann, Aam Aadmi Party (AAP) Rajya Sabha members Sanjay Singh and Raghav Chadha, as well as Delhi minister Atishi.
The Centre on Friday promulgated an ordinance to create an authority for transfer and posting of Group-A officers in Delhi, with the AAP government calling the move a deception with the Supreme Court verdict on control of services.
India's forex reserves at comfortable position to meet any requirements: Piyush Goyal
India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and industry Minister Piyush Goyal said on Wednesday.
India's forex kitty jumped USD 3.553 billion to USD 599.529 billion for the week ended May 12, according to the Reserve Bank of India.
On forex reserves, he said: "We have strong foreign exchange reserves... In the worst case with whatever difficulty anybody may have, India is comfortable for the next 5 or 6 years, given our forex reserves today, to be able to meet our forex requirements."
Rs 2000 notes were not in common use, says RBI Guv
RBI is willing to discuss with stakeholders on Green Finance: RBI Guv
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First Published: May 24 2023 | 7:46 AM IST