Now NRIs can send remittances more often: RBI

June 10, 2012

RBI

Mumbai, June 10: The Reserve Bank, on Saturday, permitted NRIs to send remittances more frequently, a step to boost foreign currency inflows and check rupee fall.

Resident Indians are now allowed to receive as many as 30 remittances from NRI friends and relatives during a year as against 12 earlier, according to a latest RBI circular.Analysts said that the RBI decision would help raise foreign exchange reserves.

In the circular addressed to authorised Indian agents under the Money Transfer Service Scheme (MTSS), RBI directed them to bring this to the notice to sub-agents as well and ensure the adherence to the guidelines.

The RBI had taken several initiatives in the last few weeks to arrest the fall of the rupee against the dollar.

The Indian currency has been declining continuously since March and touched a historic low of 56.38 to a dollar last month.

The rupee, on Saturday, closed down by a whopping 48 paise at 55.42 against dollar amid spurt in demand for the US currency after Fitch’s downgrade of Spain worsened the eurozone crisis.

MTSS is a quick and easy way of transferring personal remittances from abroad to beneficiaries in India. Only personal remittances such as remittances towards family maintenance and remittances favouring foreign tourists visiting India are permissible.

The system envisages a tie-up between reputed money transfer companies abroad and agents in India who would disburse the funds to the beneficiaries at ongoing exchange rates.

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News Network
June 16,2020

New Delhi, Jun 16: Congress president Sonia Gandhi on Tuesday demanded a rollback of hike in fuel prices, saying the government's decision to increase the prices of petrol and diesel during the coronavirus crisis is "wholly insensitive" and "ill-advised".

The government is doing nothing short of "profiteering off its people" when they are down and out, she said in a letter to Prime Minister Narendra Modi.

Petrol and diesel prices were hiked for the 10th day in a row on Tuesday.

"I am deeply distressed that in these exceedingly difficult times since the beginning of March, the government has taken the wholly insensitive decision to increase petrol and diesel prices on no less than ten separate occasions," Gandhi said in her letter.

She accused the government of earning an additional revenue of nearly Rs 2.6 lakh crore through these "ill-advised" hikes in excise duty and increase in prices of petrol and diesel.

"I urge you to roll back these increases and pass on the benefit of low oil prices directly to the citizens of this country.

"If you wish for them to be 'self-reliant' then do not place financial fetters on their ability to move forward," the Congress president said.

Gandhi also urged the government to use its resources to put money directly into the hands of those in need in these times of severe hardship.

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News Network
March 26,2020

Srinagar, Mar 25: A 65-year-old man hailing from Hyderpora area of the city died on Thursday, becoming the first fatality in Jammu and Kashmir due to coronavirus.
"As we share the sad news of our first #Covid19 fatality, my heart goes out to the family of the deceased. We stand with you and share your grief," Mayor of Srinagar Junaid Azim Mattu tweeted.
Government spokesperson Rohit Kansal also confirmed the death via Twitter.
"First death due to Coronavirus- 65 years old Male from Hyderpora Srinagar. Four of his contacts also tested positive yesterday," Kansal said.
Four people had tested positive for coronavirus in J-K on Wednesday, taking the total number of cases to 11.
Authorities in Kashmir have expressed apprehensions that the cases could be more than reported in the Valley as a significant number of people appeared to have concealed their travel history.
As per a government bulletin on Wednesday in Jammu and Kashmir, as many as 5,124 travellers and people who came in contact with suspected and positive cases have been put under surveillance.

Among them 3,061 are in home quarantine (including facilities operated by the government), 80 in hospital quarantine and 1,477 in home surveillance.
Restrictions on movement imposed in Kashmir to prevent the spread of coronavirus were tightened on Wednesday.

 

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News Network
April 24,2020

New Delhi, Apr 24: The death toll due to the novel coronavirus rose to 723 with 37 fatalities reported since Thursday evening, while the number of cases saw a record jump of 1,752 to go up to 23,452 cases on Friday, according to the Union health ministry.

The previous highest single day increase was on April 20 when 1,540 cases were reported.

The number of active COVID-19 cases stood at 17,915 as 4,813 people were cured and discharged, and one patient migrated, the ministry said.

Thus, about 20.52 per cent of the cases have recovered so far, an official of the ministry said. 

The Indian Council of Medical Research (ICMR) said that 23,502 samples have been confirmed positive as on April 24 at 9 am.

The health ministry's figure of 23,452 cases include 77 foreign nationals.

A total of 37 deaths were reported since Thursday evening of which 14 fatalities were reported from Maharashtra, nine from Gujarat, three from Uttar Pradesh, two each from Andhra Pradesh, Delhi, Madhya Pradesh, Tamil Nadu and Telangana and one from Karnataka, the ministry's data stated.

Of the 723 deaths, Maharashtra tops the tally with 283 fatalities, followed by Gujarat at 112, Madhya Pradesh at 83, Delhi at 50, Andhra Pradesh at 29, Rajasthan at 27 and Telengana at 26.

The death toll reached 24 in Uttar Pradesh, 20 in Tamil Nadu while Karantaka has reported 18 deaths.

Punjab has registered 16 deaths while West Bengal has reported 15 fatalities.

The disease has claimed five lives in Jammu and Kashmir, while Kerala, Jharkhand and Haryana have recorded three COVID-19 deaths each.

Bihar has reported two deaths, while Meghalaya, Himachal Pradesh, Odisha and Assam have reported one fatality each, according to the ministry data.

However, a news agency tally of the figures reported by various states as on Friday showed 23,577 cases and 743 deaths in the country.

There has been a lag in the Union health ministry figures, compared to the number of deaths announced by different states, which officials attribute to procedural delays in assigning the cases to individual states.

According to the ministry's data updated in the evening, the highest number of confirmed cases in the country are from Maharashtra at 6,430 followed by Gujarat at 2,624, Delhi at 2,376, Rajasthan at 1,964, Madhya Pradesh at 1,852 and Tamil Nadu at 1,683.

The number of COVID-19 cases has gone up to 1,604 in Uttar Pradesh, 984  in Telangana and 955 in Andhra Pradesh. The number of cases has risen to 514 in West Bengal, 448 in Kerala, 463 in Karnataka, 427 in Jammu and Kashmir,  277 in Punjab and 272 in Haryana.

Bihar has reported 176 coronavirus cases, while Odisha has 90 cases. Fifty-five people have been infected with the virus in Jharkhand and 47 in Uttarakhand. Himachal Pradesh has 40 cases, Chhattisgarh and Assam have registered 36 infections each so far.

Chandigarh has 27 COVID-19 cases, Andaman and Nicobar Islands 22 while  18 cases have been reported from Ladakh.

Meghalaya has reported 12 cases, and Goa and Puducherry have seven COVID-19 cases each.

Manipur and Tripura have two cases each, while Mizoram and Arunachal Pradesh have reported a case each.

"Our figures are being reconciled with the ICMR," the ministry said on its website.

States wise distribution is subject to further verification and reconciliation, it said.

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