Foreign funds News

The new govt rules require NGOs with FCRA licence to submit details of movable and immovable assets created out of foreign contributions.

The 30-share Sensex opened strong, but succumbed to late sell-off before ending marginally higher by 27.75 points, or 0.09 percent at 32,186.41.

Karti Chidambaram, son of former Finance Minister P. Chidambaram, on Wednesday appeared for questioning before the CBI in a matter related to alleged irregularities in FIPB clearance to INX Media in 2007.

The ruling BJP, the Congress and the AAP, which were asked by the Centre to furnish details of the sources of their overseas funding, have been given 15 days more to file their replies.  

Listed foreign funds pumped in $1.7 billion into India during March -- the highest flows among the emerging countries, says a report.

In a crackdown on alleged misuse of P-Notes for round-tripping, markets regulator Sebi has found five foreign funds to have issued these controversy- ridden offshore investment instruments to Indian nationals.  

Massive outflow of foreign funds, along with rupee depreciation and political bickering over the government`s recent demonetisation move, plunged the key Indian equity markets by around 2.50 percent during the just-concluded week.  

The registration of the 1,736 NGOs under Foreign Contribution Regulation Act expired after these organisations failed to submit required documents for renewal of their licence by November 8.

Indian equity markets remained bullish, witnessing a good rally during the abbreviated trading week ended Friday, prompted by a healthy inflow of foreign funds and value buying by investors.

An NGO run by civil rights activist Teesta Stelvad, who has espoused the cause of Gujarat riot victims, was Thursday banned from receiving foreign funds, with the Home Ministry cancelling its FCRA licence.

With a large number of bad loans likely to be put on block by banks following RBI's asset quality review, Edelweiss ARC is bullish about its business and is gearing to have a war chest of around Rs 2,000 crore to cash-in on the expected boom in the sector.

Muted earnings growth expected in the December quarter will keep away foreign investors from re-entering the Indian equity markets, Bank of America-Merrill Lynch has warned.

Days after the government decided to exempt foreign funds from tax on profits earned before April 1, the CBDT on Thursday issued a circular asking its fields officers to keep in abeyance pending assessments and not to recover any outstanding demand.

The data furnished by the National Securities Depository Limited (NSDL) showed that FPIs pumped-in only Rs 18.77 crore or USD 3.01 million into primary and other markets for the week under review.

Foreign investors sold around USD 630 million in Indian shares and bonds on Wednesday, marking the biggest single-day sales since January 2014.

The government plans to sell highways projects worth Rs 1 lakh crore to foreign pension and insurance funds to attract overseas investments into the sector, Union Minister Nitin Gadkari said on Wednesday.

Analysts expect the inflows to accelerate further in view of clearance of reform bills for insurance, coal and mining, as also on assurances on controversial issues like General Anti Avoidance Rules (GAAR).

Till March 31, close to 100 FIIs got notices from the Tax Department for a controversial Minimum Alternate Tax (MAT) of 20 per cent, while they are now being followed up with Assessment Orders.

Government is seeking overseas investment for infrastructure projects worth over USD 75 billion in sectors like power, roads and railways over the next few years.

Encouraged by foreign exchange reserves touching record levels, the Reserve Bank on Tuesday doubled the annual overseas investment ceiling for individuals to USD 2,50,000.