Wednesday, April 24, 2024

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Forex

20% TCS on international credit cards: What it is, why it was needed, and how it will impact foreign visits – everything you needed...

The abolition of rule 7 of the FEMA (CAT) Rules, 2000 means that credit card payments made while travelling abroad will attract 20% TCS

‘Pakistan’s credibility is depleting faster than its forex reserves’: EAM S Jaishankar takes a brutal dig at Pak FM Bhutto in Goa

EAM S Jaishankar made the comments with regard to Pakistan's historical support to India-focused terrorism.

Amidst supply chain disruptions Honda announces plant shutdown in Pakistan

It is notable that several companies in various sectors have stopped production in a cash-strapped Pakistan as they ran out of raw materials or foreign exchange and in some cases both.

Amid a severe economic crisis in Pakistan, thousands left jobless as cross-border trade with Iran shuts down, forex reserve at a critical low

Earlier in October, the Iranian authorities closed the border with Pakistan at Taftan after clashes between the protesters and security forces in Zahedan, the capital city of Sistan-Balochistan, reported Dawn.

ED summons Punjab CM Captain Amarinder Singh’s son Raninder Singh in FEMA violation case

Amarinder Singh’s son Raninder Singh summoned by ED in relation to a trust named Jacaranda Trust & subsidiaries in British Virgin Islands

India’s foreign exchange reserves see a significant surge, cross half-a-trillion USD mark for the first time

This is for the first time that India’s foreign exchange reserves have crossed the half-a-trillion US Dollar mark

Jyotiraditya Scindia furthers half truth about India’s forex reserves, gets fact-checked

Even at a 7 month low, forex reserve was higher by around 30% since the BJP gained power, outflanking the Congress in 2014.

Modi government’s National Steel Policy saved the country Rs 5,000 crores forex

National Steel Policy has also added around 24 million tonnes of crude steel capacity during the last four years.

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