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India

‘Cars don’t sell’: How a shadow banking crisis is hurting autos sector

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Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning – not a single customer was in sight. “There used to be close to 15-20 bookings each day, but now we’re down to 3-5 on good days,” said ... Read More »

500 Indian star tortoises being smuggled in train rescued from Vijayawada station

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A search operation was conducted on the Navajeevan Express and a passenger was taken into custody for allegedly smuggling the tortoises in an AC coach. In a major bust, officials of the Directorate of Revenue Intelligence (DRI) seized around 500 Indian star tortoises, after they conducted a raid at the Vijayawada railway station. DRI officials said that a search operation ... Read More »

Do NRIs in Gulf need to pay income tax in India?

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Benjamin Franklin, who was credited with drafting the Declaration of Independence and the American constitution, said there were only two things certain in life: death and taxes. His utterances made in 1700s hold true even this day. Non-resident Indians are required to pay an income tax on income of more than 250,000 Indian rupees that is earned in India. Siddesh ... Read More »

Canara Bank Q1 profit surges 17% to Rs 329 crore on lower provisions, asset quality improves

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State-owned Canara Bank has reported 17.08 per cent year-on-year rise in its standalone net profit at Rs 329.07 for the quarter ended June 30, 2019, helped by lower provisions and improvement in asset quality. “The Bengaluru-headquartered public lender had posted a net profit of Rs 281.49 crore in the same quarter last year,” Canara Bank said in a filing to ... Read More »

67 bovines rescued, 6 smugglers arrested in J&K’s Rajouri

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Six alleged bovine smugglers were arrested and 67 animals rescued in Jammu and Kashmir’s Rajouri district on Sunday, a police official said. Five bids to smuggle bovines from Nowshera, Budhal and Thanamandi areas of Rajouri to Kashmir Valley were foiled, the official said. During an interception in Samote area, one Mohammad Nazir was arrested and 10 bovines being smuggled to ... Read More »

India seizes narcotics worth $390M smuggled from Pakistan

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AMRITSAR, India: Customs officials in a northern Indian state say they have seized narcotics worth $390 million that were smuggled from neighboring Pakistan. Top customs official Dipak Kumar Gupta says 586 kilograms (1,290 pounds) of narcotics, mostly heroin, were hidden in 15 bags among 600 sacks of rock salt imported from Pakistan and were seized Saturday in Punjab state. Gupta ... Read More »

Girl from India dies from heatstroke in Arizona desert after being smuggled into the US

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A six-year-old migrant child from India died of heatstroke after her mother left her with other migrants while she went to look for water, a medical examiner and US Border Patrol said. Gurupreet Kaur, who was soon to celebrate her seventh birthday, was found on Wednesday by US Border Patrol west of Lukeville, Arizona, where temperatures reached a high of ... Read More »

Jet Airways share price slumps over 23% on report NSE to remove stock from F&O trading from June 28

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Jet Airways share price slumped in early trade today after NSE said shares would be pulled out of Futures and Options trading from June 28. Jet Airways share price slumped over 23% to 84.80 level compared to the previous close of 110.40 on BSE. Jet Airways share opened at a loss of 9.96% at 99.40 and fell to a fresh ... Read More »

Indian-origin man part of world’s most prolific steroid smuggling gang faces jail in UK

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An Indian-origin man in the UK has been found guilty of being part of a criminal gang believed to be one of the world’s most prolific smugglers of anabolic steroids. Gurjaipal Dhillon acted as a fixer for the group, arranging dozens of unlicensed shipments of drugs from India into Europe, according to Britain’s National Crime Agency (NCA) which led the ... Read More »

Bovine smuggling bid foiled in J&K, 21 animals rescued

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A suspected bovine smuggler was arrested as police foiled separate attempts of cattle smuggling and rescued 21 animals in Samba and Kathua districts of Jammu and Kashmir, police said. Makhan Din, a resident of Balole Khad village, was arrested at Bari Brahmana in Samba district when his load carrier was intercepted and four bovines, which were tied with ropes in ... Read More »

How will Modi handle India’s economy?

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Indian stocks and the rupee rose to welcome the news: another parliamentary majority for the BJP party could grant Mr Modi the opportunity to make promised reforms a reality. But once the euphoria around his emphatic win at the polls has faded, there will remain some tough economic challenges in his in-tray. What did he do in his first term? ... Read More »

Yerawada jail guard held for smuggling bid

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PUNE: Yerawada police arrested a jail guard late on Sunday night for trying to smuggle marijuana inside the Yerawada Central Prison. The jail guard, on night shift, was found carrying the contraband in his lunch box. Jail officials took the guard to the Yerawada Police Station. following which he was arrested. Read More »

3 Engineering Students Arrested For Smuggling Marijuana: Cops

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VIZIANAGARAM: Three engineering students were arrested on Wednesday for allegedly transporting marijuana from Araku Valley to Visakhapatnam in Andhra Pradesh. Police seized 10 kg of marijuana, three cell phones and a new Ford car from them which they used to carry the cannabis. “The students Ch Rahul Reddy, K Sai Sumanth and B Sai Kiran hail from Guntur district,” Kothavalasa ... Read More »

DRI seizes gold bars worth nearly Rs 8 cr smuggled into India from Myanmar, arrests six

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The Directorate of Revenue Intelligence (DRI) has seized gold bars worth nearly Rs eight crore which was smuggled into India from Myanmar, and arrested six people for allegedly being a part of the smuggling racket, according to an official statement issue. The gold was smuggled into India from Myanmar through the porous Indo-Myanmar border at Moreh in Manipur. Acting on ... Read More »

Gold worth Rs 38.4 lakh seized from passengers at Chennai airport

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CHENNAI: Customs officials at Chennai airport detected one case of gold smuggling on Friday morning and four cases in the intervening night of Wednesday and Thursday. They seized a total of 1.17 kg of gold, worth Rs 38.4 lakh. the officials searched Mohammed Rafi, 23, of Chennai who arrived here from Kuala Lumpur in an AirAsia flight. They found three ... Read More »

Charges Against GST, Customs Officials For Helping In Smuggling Gold

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NEW DELHI: The Central Bureau of Investigation has charged three Customs and GST officials based in Bengaluru for allegedly helping smugglers bring gold from Dubai in the form of paste, officials said on Tuesday. The agency had received information that Directorate of Revenue Intelligence officials had intercepted six international passengers who were handing over smuggled gold to some receivers. During ... Read More »

Five including four Turkmenistani held for smuggling gold

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Five passengers, including four Turkmenistani, have been arrested by the customs officials for smuggling gold worth Rs 2 crore at Delhi airport. The accused were arrested in separate incidents happened during the past one week. Four Turkmenistani passengers, including three women, were intercepted after their arrival at Delhi in different flights on Wednesday. Two of them had come from Dubai ... Read More »

Customs Officials Seize Gold Worth Rs. 79 Lakh From Delhi Airport’s Toilet

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NEW DELHI: Gold worth about Rs. 79 lakh was seized from a bathroom at Delhi’s Indira Gandhi International Airport airport, customs officials said. A 21-year-old man has been arrested by the customs officials for his alleged involvement in gold smuggling, they said. Acting on inputs, the customs department intercepted the accused after his arrival at the airport from Abu Dhabi ... Read More »

India may extend deadline for imposing retaliatory tariff on 29 US items by 14 days

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India is likely to extend the deadline for imposing retaliatory customs duties on 29 US products, including almond, walnut and pulses, by another 14 days, a source said. The commerce ministry is expected to recommend to the revenue department, under the finance ministry, to extend the deadline for imposing higher tariffs. The current deadline will end on May 2. “The ... Read More »

As global smuggling networks flourish, Indian turtles disappear from traditional habitats

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Indian softshell turtles are in peril, thanks to local myths about the use of their body parts, as well as an international poaching network that feeds traditional Chinese practices. Softshell turtles, which get their name due to lack of scales on their outer shell or carapaces, are found in lakes and ponds as well as in the river systems of ... Read More »