NRIs, OCIs (Overseas Citizens of India) and RIs (Resident Indians) have been permitted to hold non-controlling stake in FPIs.

The government's latest measures to support the rupee announced last week were particularly underwhelming for market participants who have since increased bearish positioning on the currency.

The Indian currency hit a fresh record low of 72.91 against the dollar on Wednesday, only to recover to Rs 72.35. The currency has fallen over 13 per cent against the dollar since January.

According to Kochi-based Federal Bank, there are signs of a spurt in remittances already, with the banks remittance handling go up to Rs 1,000 crore per week last fortnight, as against the usual average of Rs 700-800 crore.

SEBI initiated a public consultation process for finalising the new guidelines after a high-powered panel suggested changes on several contentious proposals and more time for compliance with new KYC and beneficiary ownership norms.

Jet Airways chairman Naresh Goyal met aviation secretary RN Choubey on Monday and apprised him of the ongoing crisis.

The Walmart-Flipkart deal is expected to help the government rake in up to Rs 13,700 crore.

Not just businesses get affected by currency rate movement, it also impacts individuals like overseas workers, NRIs, people dependant on overseas remittances, students studying abroad, patients goings for medical treatment overseas and tourists.

Recent changes in income tax laws and filing process may have perplexed many taxpayers, but here is help at hand.

Continued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, said bankers.

It is proposed that any NRI marriage which has been solemnised has to be compulsorily registered within 48 hours of the wedding.

He has been buying stressed assets across the world for the last five years. Now NRI Sanjeev Gupta has turned to India. Who is this man and will he succeed?

In a set of FAQs on applicability of Goods and Services Tax (GST) on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.

With SEBI mandating mutual fund schemes to recategorise and follow well-defined investment paths, it is time to review your portfolio.

Claiming that the company strictly follows what the court and the government orders are, he said,\"We always make sure the community and Tuticorin people at large prosper with us.\"

IndiGo was founded in Aug 2006 by Rahul Bhatia of InterGlobe Enterprises and Rakesh Gangwal, a US based NRI. From one aircraft it has grown to a fleet of 161 aircraft today. Watch BusinessToday.In's video to know the story of India's largest passenger airline, IndiGo and the challenges it's facing.