Foreign Funds

The home ministry has revised the compounding penalties for a number of offences under the Foreign Contribution (Regulation) Act (FCRA), 2010, involving the receipt and utilisation of foreign contributions by non-governmental organisations, according to a gazette notification. The orders were notified by the ministry on Monday under powers conferred by section 41(1) of the Act. The penalty for defraying foreign contributions beyond 20 per cent of the contributions received for administrative expenses, in contravention of section 8 of the Act, will be Rs 1 lakh or 5 per cent of the amount spent beyond the limit, whichever is higher, the notification said. The utilisation of foreign contribution in speculative activities, in contravention of section 8(1) of the Act read with rule 4 of the Foreign Contribution (Regulation) Rules, 2011, will now attract a penalty of Rs 1 lakh or 30 per cent of the amount invested in such activities, whichever is higher. In addition, 100 per cent of the

China will support eligible foreign-invested enterprises seeking listings on domestic stock exchanges

A case has been registered against a US-based organisation and six others after the ED lodged a complaint alleging illegal utilisation of foreign funds through a network of foreign debit cards, including in Left Wing Extremism (LWE)-affected areas of the country. Based on the complaint filed by ED Assistant Director Sunil Kumar Sinhmar, Kothanur Police in Bengaluru registered on June 11 under various provisions of the Bharatiya Nyaya Sanhita and the Unlawful Activities (Prevention) Act (UAPA). The FIR names Jonathan S Rajan, Micah Mark, Ajit Verghese Mathai, Varghese Chacko, Bablu Kurmi, Supreme Joy, US-based The Timothy Initiative and others as accused. In the complaint, the ED alleged that searches conducted on April 18 and 19 under provisions of the Income Tax Act and the Foreign Exchange Management Act revealed that the accused, in association with TTI, used foreign-origin debit cards issued by a US bank to withdraw and utilise foreign funds across India. The agency alleged tha

Tax experts say GIFT IFSC-based specified funds may offer a more certain and tax-efficient route amid increased scrutiny of treaty-based capital gains exemptions

In a Fireside chat with Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit 2025 in Mumbai, Pandey said, "Confidence of foreign players is very high as far as India is concerned.

Foreign money is still flowing into Indian equities, but the nature of that money has changed. For now, global investors seem to be playing it safe

Government procurement is, at its core, about expenditure efficiency

Non-bank finance company SMFG India Credit on Tuesday said it has raised USD 175 million foreign loan. The funds have been borrowed through a syndicated loan and will be used for regular lending operations, as per an official statement from the company run by Japan's SMFG. The External Commercial Borrowing (ECB) facility has been jointly arranged by Standard Chartered Bank (SCB) and CTBC Bank, the statement from the company formerly known as Fullerton India Credit, said. It can be noted that a slew of its peers have been accessing funds through the ECB route over the last few months even if they come at a higher cost, as arranging funds from domestic banks become difficult amid regulatory changes and slower deposit growth. The Non-bank finance company said it has fully hedged the facility to mitigate risks associated with foreign exchange and interest rate fluctuations. "With this funding, we aim to strengthen our lending capabilities, ensuring greater access to credit for individ

Retail flows from Japan to India turn negative on a four-week basis

Centre looking for equity commitments to the Rs 30,000 crore maiden fund

The rupee appreciated 4 paise to 83.57 against the US dollar in early trade on Tuesday, supported by positive trend in domestic equities and foreign fund inflows. Forex traders said dollar demand from local importers limited the rupee's upward momentum. At the interbank foreign exchange market, the rupee opened at 83.59 and gained ground to trade at 83.57 against the greenback in initial deals, registering a rise of 4 paise from its previous closing level. On Monday, the rupee depreciated 10 paise to 83.61 against the US dollar. "The Indian rupee is currently caught in a tug-of-war between negative and positive forces, trading within a tight range," CR Forex Advisors MD Amit Pabari said, adding that continuous intervention by the Reserve Bank of India has helped prevent significant depreciation. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.33, higher by 0.14 per cent, driven by stronger-than-expected US Producer

Overseas investors bought about $358 million of bonds on Monday, the most in two months and a seventh successive day of purchases, data compiled by Bloomberg show

The ED alleged that AAP received funds from various sources spanning countries such as the US, Canada, Australia, New Zealand, Saudi Arabia, the UAE, Kuwait, and Oman

The bank raised foreign currency resources of $3.26 billion equivalent during the financial year 2024

"India has long been a favoured market based on economic growth, but given the downdraft in China this has been emphasised in the last year or so," said Joshua Crabb, a fund manager

The rupee turned flat at 82.89 against the US dollar in early trade on Wednesday, resisting pressure amid unabated outflow of foreign funds and increased month-end demand of the American currency. According to forex analysts, crude oil prices hovering above USD 83 per barrel also weighed on the domestic currency, however, positive equity markets provided cushion and capped a steep fall in the rupee. Investors were also awaiting cues from US GDP data to be released later in the day and domestic GDP (Gross Domestic Product) numbers later this week, they said. At the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback. On Tuesday, the rupee settled 1 paisa lower at 82.89 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.09 per cent higher at 103.92. Gaurang Somaiya, forex and bullion analyst Motilal Oswal ...

The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Monday on the back of foreign funds inflow and retreating crude oil prices in the overseas market. Forex traders said subdued equity market sentiment and strengthening American currency weighed on the domestic unit. Also, they said investors adopted cautious approach ahead of inflation and other macroeconomic data to be released in India as well as in the US later this week. At the interbank foreign exchange, the local currency opened at 82.88 and slipped further to 82.89 against the greenback, registering a gain of 2 paise from the previous close. On Friday, the rupee settled 6 paise lower at 82.91 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.06 per cent higher at 103.92. Brent crude futures, the global oil benchmark, was trading 0.45 per cent lower at USD 82.25 per barrel. In the domestic equity market, the 30-share BSE Sens

Indian sovereign bonds have gained prominence after JPMorgan Chase & Co.'s move to add them to its global debt indexes from June

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday. Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains. At the interbank foreign exchange market, the local unit opened at 83.15 against the greenback. The unit oscillated between an intraday low of 83.16 and a high of 83.11 against the greenback and finally settled at 83.13 against the dollar, higher by 2 paise (provisional) from its previous close. On Tuesday, the rupee had settled at 83.15 against the US dollar. "We expect the rupee to trade with a slight positive bias as the US Dollar has softened ahead of PMI data and gains in the Japanese Yen. Markets expect PMI data to be better than the previous month's reading. However, concerns over the Red Sea region and elevated crude oil prices may cap the sharp upside," said Anuj ..