The Reserve Bank on Tuesday capped contributions by a single regulated entity (RE), including banks and NBFCs, at 10 per cent of the corpus of an Alternative Investment Fund (AIF) scheme. Also, collective contribution by all REs in any AIF Scheme should not be more than 20 per cent of the corpus of that scheme,…
Industry and economists have expressed concerns over the US government’s decision to levy a 25% tariff along with a “penalty” on Indian exports, starting August 1. In a statement issued on Wednesday, FICCI said that it’s “disappointed” by the US’ decision. “While this move is unfortunate and will have a clear bearing on our exports,…
The US State Department, on Wednesday, unveiled the sanctions against 6 India-based companies, claiming these firms deliberately participated in “significant transactions” involving the acquisition and sale of Iranian petroleum products, breaching American restrictions on Iran. Among the sanctioned Indian enterprises are prominent petrochemical traders. The heaviest accusations fell on Alchemical Solutions Private Limited, which allegedly…