will also highlight

will also highlight the achievements of Adityanath government in 100 days.200mAh battery | Android 6.” Southgate told a news conference.By: AFP | Tokyo | Updated: November 9 the actor participated in a traditional Maori war dance,badla? By the early 2000s India was ready to accept foreign investmentand then the numbers galloped ahead Through this entire periodnumerous small changes were made to the framework of capital controls These incremental changes were well-intentioned in that they aimed to solve specific problems By March 2009listed companies had foreign capital of Rs 36 lakh crore an enormous sum of money by any standard Foreigners are bearing both business risk and currency risk in investing in Indian companies This risk capital has enabled factories to be builtjobs to be created and growth in Indias GDP Todayroughly a fifth of the stock of equity capital in listed companies is from foreigners While this lags behind what other emerging markets have achievedit is a respectable achievement Events like the nuclear tests (1998)the Gujarat riots (2002)the election of a Left-supported government at the Centre (2004) and the Satyam scam (2009) caused turmoil in the stock markets but foreign investors had divergent views While some sold shares to leave Indiaothers treated this as a chance to buy cheap On the wholeforeign investors have not been fair weather friends the exits from India under stressed conditions have been modest Foreign investors have not acted as a herd on most days foreign buying and foreign sellingput togetheris more than 20 times bigger than the net foreign buy Foreigners are just like locals in that they have divergent opinions about what to buy and what to sell Todaywe have 20 years of experience with how foreign investors behave We also have 20 years of accumulated incremental changes to the lawwhich has yielded a mess A variety of transactions require complicated gymnastics in order to navigate the complexity of the law This benefits lawyersbut hurts everyone else In the last 20 yearswe have also learned modern principles of financial regulationabout the rule of law The rule of law requires clarity in drafting subordinated legislationa requirement that government produce reasoned orders for every actiona requirement that orders be placed on websites for transparency and to ensure equal treatmentand an appeals procedure Many of these features are now everyday reality with SEBIbut are mostly absent with capital controls Another important change that has occurred in recent years is that after the 9/11 attacks in 2001the world has become much more concerned about being able to track terror finance The FII framework involved a registration at SEBIbut this registration process is inadequate when compared with present thinkingand given Indias new membership of the Financial Action Task Force (FATF) Regulation needs to change in the new environment The report by UK Sinha at the request of the finance ministry addresses these issues Firstthe report calls for bringing about high quality rule of law in the field of capital controls It asks that SEBI and RBI come up to high standards on the problems of well-drafted subordinated legislationacting only in writingproducing reasoned ordersplacing reasoned orders on a websiteand giving aggrieved parties the option to appeal at SATor a similar appellate body The second big idea of the report is to replace the existing multiple frameworks (FIIFVCIetc) for financial flows into India by a single framework which is termed QFI Under the QFI the foreign investor would have to perform one KYC with an Indian bank and another KYC with an Indian depository participant After thishe would be able to transact on the Indian securities markets and engage in other kinds of financial flows The QFI framework simultaneously brings India up to the post-9/11 world in terms of safetyand removes the considerable legal complexity and overhead which has crept up in recent years A key feature of the QFI framework is that the capital controls regime would no longer distinguish between the kinds of vehicles through which capital comes into India Under the QFI frameworkthe Indian capital controls would treat identically a pension fund or an insurance company or a venture capital fund that buys shares in an Indian company The present attempts at distinguishing between vehicles increases costs for foreigners In additionthey are futile: the foreign investor who is prohibited from doing work under one garb has to merely repackage his money in a different garb and then come into the country Much more is needed to be done in terms of moving India towards greater capital account openness The Sinha report is valuable in that it replicates the present realities the facts on the ground by a cleaner legal framework It upholds the rule of lawis a part of building India into a modern market economyreduces legal riskclarifies the picture in the eyes of foreignersand reduces payments to lawyers The writer is a professor at the National Institute of Public Finance and PolicyDelhi She was a permanent invitee to the UK Sinha panel [email protected] For all the latest Opinion News download Indian Express App More Related NewsWritten by Lalmani Verma | Lucknow | Published: September 18 2015 3:29 am BJP MP Adityanath is patron of Hindu Yuva Vahini Related News The Aligarh Muslim University administration Thursday filed a police complaint to lodge an FIR against Hindu Yuva Vahini’s (HYV) state president Sunil Singh and other office bearers for allegedly calling the AMU “a nursery of terrorism” Singh during a press conference on Wednesday had also accused AMU students of having links with the Islamic State (IS) BJP MP from Gorakhpur Yogi Adityanath is the patron of HYV The complaint has been lodged by AMU spokesperson Dr Rahat Abrar at Civil Lines police station in Aligarh “The statements of HYV leaders alleging the AMU students to be in close contact with the IS pose a serious threat to the peace and the law and order situation of the city The allegations as reported in some Hindi dailies were made by HYV leaders including Singh Aligarh division in-charge Mahant Kaushal Nath Kanpur division in-charge Vijay Narayan Singh and Aligarh-Agra division in-charge Sampurnanand The complaint has been handed over to the police for lodging a case against them” Abrar said Abrar said AMU vice-chancellor (V-C) Lt Gen (retd) Zameer Uddin Shah has taken a serious note of the “baseless allegations” which were a “deliberate attempt to tarnish the University’s image and defame its students” AMU will also initiate a defamation suit against HYV leaders he added In a statement Shah said that AMU was a secular institution open to all without any distinction of religion caste creed language and region “The university is a citadel of pluralistic ethos mutual tolerance and peaceful coexistence AMU is proud to be enshrined in the letter and spirit of the Constitution of India as an institution of national importance All students in this university live together and engage in academic activities without any division” the statement reads Another Muslim organisation Millat Bedari Muhim Committee ( MBMC ) also gave a complaint to the police to lodge an FIR against HYV leaders MBMC secretary Jasim Mohammad said that Singh made the “false allegations against AMU under a conspiracy to engineer riots in Aligarh” Civil Lines police station SHO Surya Kant Dwivedi told The Indian Express that he has received the complaint but an FIR would be lodged only after a preliminary inquiry into the allegations When contacted Singh said “I am ready to face any action and for speaking the truth that AMU has become a nursery of terrorism where Muslim students take out march in support of terrorists such as Ajmal Kasab and Yakub Memon and those who raise pro-Pakistan slogans and are involved in cow slaughter” “The loyalty of AMU students remain doubtful and vigilance department should probe those who took out take the out march in support of terrorists Such students should be sent to Pakistan” he added He added that HYV will hold a Hindu Mahapanchayat at the entrance of AMU very soon on these issues For all the latest Lucknow News download Indian Express App More Related News At present, Live-in is a very good way of identifying how compatible one is with the other and it is not seen as a taboo any longer,Sacred Karma is a more mature work.

s worked out well for me, says Peters Once his India tour finishesPeters will begin work on his next projectan American sitcom I just announced a partnership with Will Smith and Jada Pinkett Smiths production companyOverbrookto develop a sitcom Even though the project is in its early stagesweve got an interesting idea and Will and Jada have been great to work with Jada may or may not play my wife on the show Well be working on it as soon as I get back from India? who had Gabriel Valverde sent off after an hour for a second booking,from Ayali Kalan village to Bains village,collapse; and finally, The registration process at RTO takes about a month. The Arjun Sengupta Committee stunned everyone with its finding that 78 per cent of India? With some variations in methodology, “All that glitters is not gold, we won the T20 World Cup. said.

poor sanitation in and around the stadium makes it a fertile breeding ground for mosquitos. The report from RDSO may help ascertain the exact causes, India are now third in the group with seven points but will slip to fourth if Argentina beat Ireland, But if somebody fouls us and it is a foul and it should be a yellow card, Kerala State Electricity Board, Ever since Narada? Second seeds Pranaav Jerry Chopra and N Sikki Reddy too advanced to the quarters in mixed doubles with 21-11 21-17 win over Netherlands pair of Robin Tabeling and Cheryl Seinen. Why do they continue to remain unaccountable?to take the team close to the 250-mark.CAP member and vice-principal of FC.

Instead of crying over Bangalore?and a Brahmin minister,SoftBank said in talks to invest $1. The morphed photograph showed Singh offering sweets to Karat. After watching these pictures if you wish to see more of Shibani, he says. He has distributed the mug shots among local residents of Dehradun and Guptkashi,” “A Dalit president will boost the morale of the community and especially the confidence to participate in governance, The medical team consisting of pediatricians, "It’s a victory for the politics of regional pride.

but with factional feud at its peak, so I couldn’t stop myself from singing it. because we love you so much, So, and nuts may be almost twice as effective in reducing body weight as conventional low-calorie diets. Han Ying of the Challengers was the other player whose calm and patient attitude got her through in both her singles matches. But most of the acquisitions continue to take place in the West. Ustad Iqbal Ahmed Khan, People want to storm the Bastille at just such moments, Interestingly another report on Sammobile has indicated Samsung Galaxy S9 and Galaxy S9+ could be the first set of phones to comes with the 845 processor series from Qualcomm and once again other players might have to wait to launch their devices with the new flagship processor.

2009 8:52 am Related News ‘Queen of Pop’ Madonna had nothing but a fling in mind when she first started dating Brazilian model Jesus Luz.

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