RBI faces queries on India s ETCD market impact after Dubai s rupee-dollar futures launch. Market s growth raised liquidity, regulatory concerns. RBI emphasizes ETCDs are for hedging, not speculation, potentially reshaping market dynamics.
The ED filed the case against the two taking cognisance of a CBI FIR, a source said. Moitra has been accused of accepting cash to ask questions on behalf of Hiranandani.
India Business News: The Enforcement Directorate has summoned Niranjan Hiranandani and his son Darshan Hiranandani, the promoters of Mumbai-based real estate developer Hir
Paytm Payments Bank has denied Fema violation as it lacks licence for foreign remittances, said sources to ET. ED has written to RBI. The federal agency recently obtained the "additional" data requested from RBI regarding entities allegedly involved in Fema violations through Paytm Payments bank. However, upon reviewing the data provided by the RBI, the agency has not found any apparent Fema violations by Paytm Payments Bank, according to the sources.
The agency has registered a case against the Hiranandanis and group entities under the Foreign Exchange Management Act (Fema), they said. On Thursday, the federal agency conducted searches at four sites linked to the realty firm in and around Mumbai, including Niranjan Hiranandanis home as well as the registered and corporate offices of group entities.