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Indian I-T Uncovers Rs 1.29 Lakh Cr Overseas Remittances Trail

Indian Income Tax authorities have uncovered a trail of Rs 1.29 lakh crore in overseas remittances, with money reportedly sent to countries including China and the UAE, amidst pressure on the rupee.

20 Aug, 06:02 — 20 Aug, 06:02
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Times of IndiaMostly Factual5d ago

I-T uncovers Rs 1.29 lakh cr overseas remittances trail; money sent to China, UAE & more

The probe comes as the rupee remains under significant pressure. The Reserve Bank of India has been regularly selling dollars in the foreign exchange market to contain volatility and prevent sharp, disorderly movements in the currency.

By SMRITI JAIN

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