RBI takes note! How overseas students are being used by wealthy parents to stash money abroad – The Times of India

RBI takes note! How overseas students are being used by wealthy parents to stash money abroad – The Times of India

RBI’s 2003 regulation granted ‘non-resident Indian’ (NRI) status to overseas students. (AI image) The Reserve Bank of India (RBI) is reportedly examining the utilisation of a two-decade-old foreign exchange regulation that was initially established to assist Indian students studying abroad. Students have been quietly facilitating international money transfers for years, a practice that is now…

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ED notice to Paytm parent over Rs 611 crore Fema violation – The Times of India

ED notice to Paytm parent over Rs 611 crore Fema violation – The Times of India

NEW DELHI: The Enforcement Directorate (ED) has issued a show-cause notice to One97 Communications, the parent company of Paytm, over alleged violations of the Foreign Exchange Management Act (Fema) in transactions amounting to Rs 611 crore.The notice, dated Feb 27, cited alleged contraventions between 2015 and 2019 related to Paytm’s acquisition of two subsidiaries, Little…

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