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Enforcement Directorate uncovers Rs 800 crore scam by OctaFx in 9 months
2 weeks, 1 day ago

Enforcement Directorate uncovers Rs 800 crore scam by OctaFx in 9 months

India Today  

The Enforcement Directorate has uncovered a Rs 800 crore fraud linked to forex trading platform OctaFx, revealing a complex scheme that defrauded Indian investors in just nine months of operation. The ED's investigation, initiated following a December 2021 FIR by Shivaji Nagar Police Station in Pune, alleged that OctaFx misled investors with promises of high returns through forex trading. Additionally, …

Octafx
ED raids five locations in Mumbai in connection with illegal forex sale case
2 months ago

ED raids five locations in Mumbai in connection with illegal forex sale case

India Today  

The Enforcement Directorate's Mumbai zonal office conducted search operations at five locations in Mumbai in connection with a case of suspected illegal sale and distribution of Forex by FFMCs. The raids were conducted on Thursday under the provisions of the Foreign Exchange Management Act, 1999 at premises of Kuntilaa Forex Pvt Ltd, Shagun Enterprises, Capital India Finance Ltd and MDB …

Mumbai Pvt Forex Illegal Sale Kuntilaa Forex Pvt Ltd Capital India Finance Ltd
ED raids forex trading platform OctaFx in fraud case, seizes over Rs 80 crore
5 months, 2 weeks ago

ED raids forex trading platform OctaFx in fraud case, seizes over Rs 80 crore

India Today  

The Enforcement Directorate has conducted search operations at various locations linked to the forex trading platform OctaFx, which is accused of defrauding investors to the tune of several crores. The ED initiated the investigation against the platform based on an FIR filed in Pune, which accuses several individuals of cheating investors by projecting false promises of high returns through the …

Trading Crore Ted Octafx Forex Trading
Gang from Dubai involved in forex trading fraud busted; one held in Mumbai
5 months, 2 weeks ago

Gang from Dubai involved in forex trading fraud busted; one held in Mumbai

Deccan Chronicle  

Thane: With the arrest of a 34-year-old man, the Navi Mumbai police claimed to have busted a gang involved in forex trading fraud from Dubai, an official said on Wednesday. The action was taken by officials of the Evidence Management Centre of the Cyber Cell of the Navi Mumbai police. They extracted money from the victims through the debit and …

Mumbai Gang Navi Dubai Forex Trading
Overseas Indian Students Losing Rs 548 Billion In Forex Fees, US Most Costly: Study
10 months, 2 weeks ago

Overseas Indian Students Losing Rs 548 Billion In Forex Fees, US Most Costly: Study

News 18  

A study conducted by Wise, the global technology company, highlighted the significant financial challenges faced by Indian students when pursuing higher education abroad. Beyond tuition fees and living expenses, Wise’s research revealed that Indian international students are also losing around Rs 548 billion in foreign exchange fees, an often overlooked expense. The research ranked the 10 most expensive destinations to …

Students International Students Money Transfer Fees Transfer Fees Study
Gujarat: ED seizes assets worth Rs 3.10 crore in illegal forex trading case
1 year, 3 months ago

Gujarat: ED seizes assets worth Rs 3.10 crore in illegal forex trading case

India TV News  

In a major crackdown on illegal forex trading, the Enforcement Directorate conducted searches at the premises of TP Global FX, a foreign exchange trader based in Ahmedabad. The ED's investigation revealed that individuals associated with the company, including Prasenjit Das, Shailesh Kumar Pandey, Tushar Patel, and others, had defrauded people by falsely promising investments in forex trading. Additionally, the central …

Gujarat Trading Crore Rbi Forex Forex Trading Tp Global Fx
Gold shines bright as US Dollar dips: Fed chairman's inflation comments spark market reaction
1 year, 11 months ago

Gold shines bright as US Dollar dips: Fed chairman's inflation comments spark market reaction

India TV News  

Gold Rate Today: On the Multi Commodity Exchange, gold futures opened at Rs. Data from the central bank shows that China's gold reserves rose from 64.64 million ounces at the end of December to 65.12 million fine troy ounces at the end of January. Federal Reserve Chair Jerome Powell has stuck to his post-Federal Open Market Committee rhetoric, which has …

Market Gold Fed Rate Powell Us Dollar
Rupee slips 10 paise to 82.80 against dollar
2 years ago

Rupee slips 10 paise to 82.80 against dollar

Deccan Chronicle  

MUMBAI: The rupee declined 10 paise to settle at 82.80 against the US dollar on Wednesday as a massive sell-off in domestic equities and risk aversion in global markets dented investor sentiment. On the domestic equity market front, the BSE Sensex ended 635.05 points or 1.03 per cent lower at 61,067.24, while the broader NSE Nifty fell 186.20 points or …

Cent Rupee 10 Paise
Rupee declines 13 paise to 82.75 against dollar
2 years ago

Rupee declines 13 paise to 82.75 against dollar

Deccan Chronicle  

MUMBAI: The rupee depreciated 13 paise to settle at 82.75 against the US dollar on Tuesday as investors turned cautious in view of a negative trend in domestic equities and rising crude prices in the global markets. On the domestic equity market front, the BSE Sensex ended 103.90 points or 0.17 per cent lower at 61,702.29, while the broader NSE …

Rupee 13 Paise
Achieving Target of 20% Ethanol Blending in Petrol by 2025 to Save Rs 1 Lakh Crore Forex: Amit Shah
2 years, 3 months ago

Achieving Target of 20% Ethanol Blending in Petrol by 2025 to Save Rs 1 Lakh Crore Forex: Amit Shah

News 18  

If India achieves the target of blending 20 per cent ethanol with petrol by 2025, it will save around Rs 1 lakh crore of foreign exchange, Union Home Minister Amit Shah said on Wednesday. Achieving this target early made the government advance by five years the target of 20 per cent ethanol blending to 2025, the Cooperation Minister said. Achieving …

India Shah Target Ethanol Lakh Crore 27 Lakh Cent Blending
India's Forex Reserves Continuous Decline: Falling Rupee, FPI Outflows Worsen Situation
2 years, 6 months ago

India's Forex Reserves Continuous Decline: Falling Rupee, FPI Outflows Worsen Situation

News 18  

In a third straight week of decline, India’s forex reserves have fallen $5.87 billion in the week ended June 17, amid continued outflow of foreign portfolio investments due to growing concerns over global slowdown. Foreign Investment Outflows FPIs have been incessantly withdrawing money from Indian equities since October 2021, which is depleting India’s foreign exchange reserves majorly. Continuous Rupee Decline …

India Foreign Rbi Rupee Fpi Reserves Decline Falling
ED seizes Rs 5,551 crore from Chinese smartphone giant Xiaomi's India arm over forex violations
2 years, 8 months ago

ED seizes Rs 5,551 crore from Chinese smartphone giant Xiaomi's India arm over forex violations

Firstpost  

The company has remitted foreign currency equivalent to Rs 5551.27 crore to three foreign-based entities which include one Xiaomi group entity in the guise of royalty, the agency said New Delhi: The Enforcement Directorate has seized Rs 5551.27 crore of Xiaomi Technology India Pvt Ltd– a wholly-owned subsidiary of China-based Xiaomi group under the Foreign Exchange Management Act in connection …

Crore Group Entities Xiaomi India Remitted Foreign
Forex violation case: ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart, its founders
3 years, 5 months ago

Forex violation case: ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart, its founders

India TV News  

The Enforcement Directorate has issued a show cause notice of about Rs 10,600 crore to e-commerce major Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. They said the notice under various sections of the Foreign Exchange Management Act was issued to 10 people last month that includes Flipkart, its founders Sachin …

Violation Notice Fema Walmart Flipkart Fdi Its Founders
Rupee appreciates 14 paise to close at 75.62; forex traders say investors await Q4 GDP data
4 years, 7 months ago

Rupee appreciates 14 paise to close at 75.62; forex traders say investors await Q4 GDP data

Firstpost  

The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence Mumbai: The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence. Forex traders said investors are …

Rupee 14 Paise
At USD 426.4 bn, forex kitty scales new life-time high
5 years, 6 months ago

At USD 426.4 bn, forex kitty scales new life-time high

India Today  

India's foreign exchange reserves soared to a new record high of USD 426.416 billion in the week to June 21, surging a whopping USD 4.215 billion boosted by higher foreign portfolio investments and a stable rupee. In the reporting week, the reserves soared USD 4.215 billion, while in the previous reporting week ending June 14, it had declined by USD …

High Billion Cent Foreign Rbi Usd Reserves
Two men held for smuggling gold, forex worth lakhs by concealing in rectum at Delhi airport
5 years, 7 months ago

Two men held for smuggling gold, forex worth lakhs by concealing in rectum at Delhi airport

India TV News  

Two men have been arrested by customs officials at Delhi airport for allegedly smuggling gold and forex worth lakhs by concealing them in rectum in two separate cases, officials said Monday. A detailed personal and baggage search of the passenger resulted in recovery of six pieces of gold, collectively weighing 1.1 kg, wrapped with black colour adhesive tape concealed in …

Men Passenger Worth Rs Delhi Airport Rectum Gold Forex