MUMBAI: In a bid to prevent fraudsters from using the money transfer route for laundering, RBI has tightened rules for money transfers and has asked banks to obtain KYC details of remitters and beneficiaries.Earlier, RBI’s money transfer rules allowed walk-in customers without bank accounts to transfer funds subject to a transaction limit of Rs 5,000…
BENGALURU: Despite attempts to improve the ease of doing business, India Inc still has to deal with numerous laws and compliances.A research paper released by TeamLease RegTech, a regulatory compliance management firm, finds there are 1,536 Acts and rules, 69,233 compliances, and 6,618 annual filings to comply with. However, each company may not have to…
MUMBAI: RBI has deferred the implementation of its rules on exchange-traded currency derivatives by a month, resulting in traders scrambling to square off their positions.RBI’s circular, which was scheduled to come into effect on April 5, said that only traders with an underlying forex exposure can trade in currency derivatives. Exchange-traded currency derivatives, like futures…
NEW DELHI: Former Tihar Jail PRO Sunil Kumar Gupta refuted the Aam Aadmi Party’s claim of governing Delhi from jail on Monday, stating that it would require breaking numerous rules due to its extreme difficulty.Sunil Kumar Gupta, speaking to ANI, said that governing entails more than just signing documents; it involves numerous tasks that are…
Representative image India has urged the Group of Seven (G7) countries to delay an incoming ban on Russian diamonds because the rules to trace the origins of gems remain unclear, two sources aware of the matter said. India, home to 90% of the world’s diamond cutting and polishing industry, is critical to the implementation of…
