The proposed merger of FMC with SEBI would help streamline the monitoring of commodity futures trading and curb wild speculations, Jaitley said
While there are no changes in income tax rates for individuals, Jaitley has increased exemption limit for health insurance premium, contribution to pension scheme and transport allowance
SEBI and RBI have ensured that NRIs are put through many hurdles before they can invest in Indian stocks. A first-person account of the pains
I have lived about half of my life in the United States and the other, in India where I was born. Growing up in a Socialistic country, it was ingrained into me that your education was your passport to a successful future and nothing else mattered. After completing an undergraduate degree, I was drawn towards the share market. These were the ‘80s where every IPO was oversubscribed (the face value of a stock was always Rs10 or Rs100 or Rs1,000 (rare)). Many years later, I worked for a company incorporated in India and to cash my options, I had to get a PAN (Permanent Account Number) from the Indian Income Tax Office. After several mis-steps, I finally got the card (it felt like an achievement after the application was rejected twice on flimsy grounds) and I started looking at what I could do with my PAN number.
It was August 2013 and I was browsing a newspaper when an article caught my attention. The RBI had just released guidelines for NRIs and other foreign investors to invest in the Indian market. This spurred me to think that it is perhaps time to invest in India's equity markets. I was armed with my PAN card and a million passport size photos and other documentation such as my local address, permanent address, etc. I approached HDFC Bank to open an NRI Demat account. And then the fun began...