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MUMBAI: RBI governor Sanjay Malhotra has indicated that capital account liberalisation cannot come at the cost of macroeconomic sovereignty. He said that while some regard this as conservatism, he sees it as prudence.Highlighting some of the prudent measures taken by RBI in the past, Malhotra said that there were controls on the capital account for…
Equity benchmark indices closed lower on Thursday, with the Sensex tumbling 931 points after the previous session’s sharp rally, as renewed tensions in West Asia dented ceasefire-led optimism.The truce appeared at risk after Iran again shut the Strait of Hormuz following Israeli strikes in Lebanon, while rising crude prices, weak global cues and continued foreign…
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FTC allows individual taxpayers to claim a credit in India for taxes paid in a foreign jurisdiction on the same income. (AI image) With the rise in global workforce mobility, an increasing number of Indian professionals are earning income across multiple jurisdictions. Employees of multinational companies undertaking overseas assignments, or cross-border roles receive regular salaries…
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File photo: MEA spokesperson Randhir Jaiswal (Picture credit: ANI) NEW DELHI: India is closely following the developments in Iran, the ministry of external affairs said on Friday, amid a wave of protests in that country over inflation and currency devaluation.On January 5, New Delhi had urged Indian nationals to avoid non-essential travel to Iran and…
Rupee on Tuesday rose 3 paise to 89.95 against the US dollar in early trade supported by a weaker greenback and strong industrial output data. However, foreign fund outflows, marginally higher crude oil prices and a weak start in domestic equities limited sharper gains, forex traders said.At the interbank foreign exchange, the rupee opened at…