Page-4 of Foreign trade of India Current Affairs, GK & News

RBI imposes penalty on 5 foreign banks for violating FEMA rules

The Reserve Bank of India (RBI) has slapped a fine on five foreign banks, namely, Deutsche Bank, Standard Chartered Bank, Bank of America, Bank of Tokyo Mitsubishi and The Royal Bank of Scotland for violating reporting requirements of the Foreign Exchange Management Act, 1999 (FEMA). Germany’s Deutsche Bank has been imposed a fine of Rs ..

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Gitanjali Gems’ SEZ project cancelled

The Board of Approval (BoA) headed by Commerce Secretary has cancelled the Gitanjali Gems’ special economic zone (SEZ) project in Maharashtra. In a similar move, BoA has also cancelled the approval of Karanja Infrastructure’s Free Trade and Warehousing Zones (FTWZ) in Raigad. Gitanjali Gems’ and jewellery SEZ was notified on June 9, 2008. The approval ..

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India opens door for FDI from Pakistan

India allowed foreign direct investment (FDI) from Pakistan. But it will be only through government route and not through the automatic route. Earlier, no individual residing in Pakistan or a company based there was permitted to invest as FDI in India. Except a few sectors- Defense, Space and Atomic energy, Govt has allowed all kinds ..

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Government bans cotton exports

In order to increase the supply of natural fibre in the domestic market of India, the Government has banned exports of cotton. In reference to this a notification was issued by the DGFT (Directorate General of Foreign Trade). The exports against registration certificates already issued will not be permitted. Already India has exported about 85,00,000 ..

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First Overseas Campus set up by IIFT in Kampala, Uganda

First Overseas Campus set up by IIFT in Kampala, Uganda India-Africa Institute of Foreign Trade (IAIFT) Indian Institute of Foreign Trade (IIFT), a Government-run Institute to setup its first overseas campus in Kampala, Uganda Objective: To help students of African nations comprehend the subtlety of globalization and capacity-building in the continent The institute India-Africa Institute ..

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