Himank's Feed
Feb 28, 2015

Budget woos foreign investors with tax incentives

MUMBAI (Reuters) – India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments.

The measures, part of the government’s budget for the next fiscal year, come amid growing concerns about foreign investors pulling cash out of India and other emerging markets should the U.S. Federal Reserve start raising interest rates this year.

Feb 28, 2015

India budget woos foreign investors with tax incentives

MUMBAI (Reuters) – India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments.

The measures, part of the government’s budget for the next fiscal year, come amid growing concerns about foreign investors pulling cash out of India and other emerging markets should the U.S. Federal Reserve start raising interest rates this year.

Feb 27, 2015

SEBI cancels Sahara’s portfolio management license

MUMBAI (Reuters) – The Securities and Exchange Board of India (SEBI) has cancelled the portfolio management license held by Sahara’s asset management division in yet another setback for the group that is trying to raise $1.6 billion to free its jailed boss.

Sahara Chairman Subrata Roy has been held in a New Delhi jail since last March after he failed to comply with a court order to repay investors in a bond programme that was ruled illegal.

Feb 27, 2015

Indian regulator cancels Sahara’s portfolio management license

MUMBAI, Feb 27 (Reuters) – India’s markets regulator has
cancelled the portfolio management license held by Sahara’s
asset management division in yet another setback for the group
that is trying to raise $1.6 billion to free its jailed boss.

Sahara Chairman Subrata Roy has been held in a New Delhi
jail since last March after he failed to comply with a court
order to repay investors in a bond programme that was ruled
illegal.

Feb 23, 2015

India should use cheap oil to boost balance sheet – RBI deputy

PUNE (Reuters) – A fall in global oil prices provides India with the opportunity to strengthen its balance sheet, a deputy governor of the RBI said on Monday, alluding to the need to use savings to invest, build reserves and cut subsidies.

India imports nearly two-thirds of its oil requirements and a lower oil import bill is likely to help slash the country’s current account deficit, as well as help ease inflation.

Feb 23, 2015

India should use cheap oil to boost balance sheet – c.bank deputy

PUNE, India, Feb 23 (Reuters) – A fall in global oil prices
provides India with the opportunity to strengthen its balance
sheet, a deputy governor of the central bank said on Monday,
alluding to the need to use savings to invest, build reserves
and cut subsidies.

India imports nearly two-thirds of its oil requirements and
a lower oil import bill is likely to help slash the country’s
current account deficit, as well as help ease inflation.

Feb 11, 2015

SEBI questions ownership of Sahara properties – sources

MUMBAI (Reuters) – Officials at Securities and Exchange Board of India (SEBI), which is seeking redress for millions of investors it says were burnt in conglomerate Sahara’s illegal bond scheme, say the group may not wholly own some of the properties in India it listed as proof of its ability to repay the savers.

A senior official and a separate source with direct knowledge of the situation said the market regulator has been checking an affidavit filed by Sahara detailing property assets, as time runs out for the group to post $1.6 billion in bail to free its jailed founder.

Feb 11, 2015

India’s market watchdog questions ownership of Sahara properties – sources

MUMBAI, Feb 11 (Reuters) – Officials at India’s market
regulator, which is seeking redress for millions of investors it
says were burnt in conglomerate Sahara’s illegal bond scheme,
say the group may not wholly own some of the properties in India
it listed as proof of its ability to repay the savers.

A senior official and a separate source with direct
knowledge of the situation said the regulator has been checking
an affidavit filed by Sahara detailing property assets, as time
runs out for the group to post $1.6 billion in bail to free its
jailed founder.

Feb 3, 2015

RBI displays cautious approach to overseas debt investments

MUMBAI (Reuters) – The Reserve Bank of India said it would allow foreign funds to re-invest interest earned from government bond coupons back into markets, but kept overall investment limits unchanged and prevented purchases of short-term corporate debt.

The actions, unveiled at the RBI’s policy review on Tuesday, reflect the central bank’s cautious approach to foreign investment, which is integral to narrowing the current account deficit but leaves the country exposed to outflows in periods of global market volatility.

Feb 3, 2015

India cbank displays cautious approach to overseas debt investments

MUMBAI, Feb 3 (Reuters) – India’s central bank said it would
allow foreign funds to re-invest interest earned from government
bond coupons back into markets, but kept overall investment
limits unchanged and prevented purchases of short-term corporate
debt.

The actions, unveiled at the Reserve Bank of India’s policy
review on Tuesday, reflect the central bank’s cautious approach
to foreign investment, which is integral to narrowing the
current account deficit but leaves the country exposed to
outflows in periods of global market volatility.