The new norms for prevention of money laundering have lowered the threshold for identifying beneficial owners (BOs) in foreign portfolio investors (FPIs) to 10% for companies and trusts, a move that could increase compliance and know your customer (KYC) requirements and make India access a little more difficult for many such investors. This threshold was […]
Indian equity indices opened in red on Wednesday amid negative sentiment in global markets. The BSE Sensex fell 78.69 or 0.13% to 61,215.51 and NSE Nifty dropped 20.05 points or 0.11% to 18,212.50. The top Nifty gainers were IndusInd Bank, Britannia, BPCL, Sun Pharma and Asian Paint while the top losers were Hindalco, ONGC, JSW […]
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