Under the Reserve Bank of India’s liberalized remittances scheme, individuals can remit a maximum of $250,000 abroad every year. The provision to collect tax on remittances was introduced in the Finance Act of 2020 subject to riders and notified on 27 March to take effect from 1 October. … [Read more...] about From 1 October, 5% tax on foreign fund transfer
Hdfc third party fund transfer
Are funds really cheap?In the current market, funds are also available at a reasonable rate than what they were earlier. Despite the economy in the negative zone the market is performing well. This is encouraging for the bankers to raise funds. India being the focus market, foreign investors find Indian companies attractive. Banks just want to be extra cautious and make their books really strong for the next one year. Hence raising funds now, may help them encash the equity when the situation improves. In a different cycle today, the bankers don't have an issue with raising the funds. Reserve Bank of India has also reduced its rate drastically and the market is also open for banks. But what will certainly change the dynamics of the economy is how banks in the current environment, adopt innovation in analysing the risks. Because with current parameters, neither banks will be able to lend nor borrowers will qualify to apply. … [Read more...] about What makes banks borrow huge funds?
In a tweet on July 7, he had said, “Thousands of crores are collected by a private trust bearing PM’s name, using govt authority. This is non-transparent, non-auditable, hence non-accountable. Shameful: Money is made in the name of combating the pandemic, as people suffer from this health emergency. Another Scam.” … [Read more...] about Borrow from RBI or release money from ‘private trust fund’ to pay States’ GST dues: Yechury attacks government
The FCRA is meant to regulate the acceptance and use of foreign contributions and to prevent their use for activities detrimental to national interest. This includes gifts and monetary contributions from foreign sources, whether in Indian or foreign currency. Organisations which wish to receive foreign donations must have a definite cultural, economic, educational, religious or social programme, and must register under the Act, and receive a clearance from the government. There are 49,843 associations registered under FCRA, of which 20,674 have been cancelled, according to government data, with the Centre cracking down on NGOs receiving foreign funds in recent years. … [Read more...] about PM CARES Fund gets FCRA exemption without meeting pre-condition of CAG audit
HYDERABAD: Despite repeated representations by the Telangana government, the Union road transport and highways ministry has not released maintenance funds for the 936 km-long highways in the state.One of these highways passes through Gajwel, the constituency represented by chief minister K Chandrasekhar Rao. The 150 km-long 161AA national highway stretches from Sangareddy to Narsapur, Toopran and runs via Gajwel, Pragnapur, Jagdevpur, Bhuvanagiri before terminating at its junction with NH-65 near Choutuppal. The highway is also part of the regional ring road project.The state government’s plea for the release of Rs 213 crore towards repair and maintenance of national highways has yielded no response so far. “The ministry has not released the funds for the last one year,” said state roads and buildings minister Vemula Prashant Reddy.With no funds available, the state’s roads and buildings department is unable to take up road repairs. The recent incessant rains, … [Read more...] about Centre yet to release funds for Telangana highways