Adani Enterp. 2496.45↓-37.60(-1.48%)
Adani Ports 734.05↓-3.45(-0.47%)
Apollo Hospitals 4599.15↓-41.30(-0.89%)
Asian Paints 3144.40↑7.00(0.22%)
Axis Bank 937.45↑7.65(0.82%)
B P C L 360.40↓-1.30(-0.36%)
Bajaj Auto 4591.90↓-26.60(-0.58%)
Bajaj Finance 7005.80↑73.75(1.06%)
Bajaj Finserv 1465.85↑16.30(1.12%)
Bharti Airtel 818.45↓-2.80(-0.34%)
Britannia Inds. 4573.25↓-2.00(-0.04%)
Cipla 959.85↑3.60(0.38%)
Coal India 244.30↓-1.80(-0.73%)
Divi's Lab. 3458.00↓-19.85(-0.57%)
Dr Reddy's Labs 4518.90↓-37.35(-0.82%)
Eicher Motors 3678.35↓-33.10(-0.89%)
Grasim Inds 1725.15↑11.85(0.69%)
H D F C 2693.35↑2.80(0.10%)
HCL Technologies 1135.85↑9.65(0.86%)
HDFC Bank 1636.75↑1.25(0.08%)
HDFC Life Insur. 585.15↑6.10(1.05%)
Hero Motocorp 2779.15↑2.25(0.08%)
Hind. Unilever 2656.55↑6.25(0.24%)
Hindalco Inds. 413.10↓-6.80(-1.62%)
ICICI Bank 949.95↑1.80(0.19%)
IndusInd Bank 1293.25↑8.30(0.65%)
Infosys 1323.85↑9.45(0.72%)
ITC 449.90↑0.80(0.18%)
JSW Steel 704.60↑2.40(0.34%)
Kotak Mah. Bank 1974.70↑21.50(1.10%)
Larsen & Toubro 2210.80↓-13.75(-0.62%)
M & M 1328.45↓-1.70(-0.13%)
Maruti Suzuki 9383.35↑49.85(0.53%)
Nestle India 21574.45↓-155.00(-0.71%)
NTPC 176.80↑0.50(0.28%)
O N G C 158.85↓-0.15(-0.09%)
Power Grid Corpn 235.10↑0.60(0.26%)
Reliance Industr 2519.95↓-0.65(-0.03%)
SBI Life Insuran 1215.90↓-2.20(-0.18%)
St Bk of India 592.80↓-2.20(-0.37%)
Sun Pharma.Inds. 959.60↓-8.85(-0.91%)
Tata Consumer 790.90↓-3.35(-0.42%)
Tata Motors 518.80↓-2.65(-0.51%)
Tata Steel 107.05↓-1.40(-1.29%)
TCS 3316.20↓-4.15(-0.12%)
Tech Mahindra 1098.40↓-15.65(-1.40%)
Titan Company 2802.50↓-9.75(-0.35%)
UltraTech Cem. 7901.95↑61.40(0.78%)
UPL 689.05↓-0.95(-0.14%)
Wipro 402.50↑2.70(0.68%)

Taxmen probe rich Indians for having foreign policies without approval

Foreign Exchange Management Act (Fema) is triggered when life insurance is bought from a foreign company without RBI approval

Premium

2 min read Last Updated : Jan 19 2023 | 10:57 AM IST

Several wealthy Indians have either purchased or have become nominees in foreign life insurance policies without the approval of the Reserve Bank of India, The Economic Times reported Thursday. Tax officials are now asking these rich Indians to expalin why their names have figured in these insurance policies that run into millions of dollars.