Surging oil prices have also weighed heavy on the rupee with a surprise rate hike by the Reserve Bank of India last week doing little to stem capital outflows
The Indian currency closed at Rs20.62 against the dirham, 42 paise weaker compared to Wednesday's closing of Rs20.20 or 75.65 against the dollar compared with its pr.
The thrust on digital transformation such as digital rupee, blockchain technology, digital banking, digital university and e-passport will go a long way in fast-trac.
By exempting SMEs from the tax, the UAE, the Arab world’s second-largest economy, reaffirms its focus on driving innovation and empowering small businesses and start.
But it may not be the best option for NRIs
A new investment avenue is available to retail investors with India’s central bank allowing them to invest in government bonds for the first time.
The Reserve Bank of India has opened up the government securities market for retail investors by permitting them direct online access to the government bonds market.
India is the first Asian country to allow direct retail participation in the government securities market.
Only a few countries, including the US and Brazil, permit retail investors direct access to government bonds, both primary and secondary.
“Retail investors can now directly buy and sell government bonds, also called gilts, online. With this, more investment instruments are open for retail investors; besides bank fixed deposits, fixed income mutual funds and government small savings schemes such as public provident fund,” said Binoo Nayyar, chief financial officer at TrendRiser Securities, Dubai.