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The Latest Breaking News from FEMA

Rajesh Exports under ED lens after probe finds missing records and Rs 3,000 crore opaque transactions

The Enforcement Directorate has uncovered significant suspected violations of the Foreign Exchange Management Act (FEMA) during searches at Rajesh Exports Ltd (REL) premises. Investigations revealed missing records for overseas transactions, approximately Rs 3,000 crore in unclear trade settlements, a substantial stock discrepancy, and allegations of share manipulation involving offshore entities.…

The Economic Times

No maps, no insurance: Michigan floods expose lack of information, preparation in many rural areas

Many homeowners hit by devastating Michigan floods had no insurance and no idea they were at risk — underscoring vulnerabilities throughout rural America as climate change causes more extreme weather

The Independent UK

NRI credit cards: Rewards and lounge access aren’t everything, what more NRIs should know before getting an Indian credit card

For Non-Resident Indians (NRIs), an Indian credit card offers significant benefits beyond convenience, including building a crucial CIBIL score for future borrowing and simplifying rupee-denominated expenses. While unsecured cards are increasingly available, understanding forex charges, repayment mechanisms, and FEMA compliance is vital before applying.

The Economic Times

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ED case against five Bengaluru-based entities for 'unauthorised' cross-border crypto transactions

The Enforcement Directorate has initiated a FEMA probe into five companies located in Bengaluru for their alleged involvement in unauthorized cross-border transactions amounting to Rs 2,500 crore through cryptocurrency. Investigations uncovered significant regulatory evasion via online ads promoting immediate fiat-to-crypto swaps and the establishment of shell companies. Consequently, the ED…

The Economic Times

NRE vs NRO income tax rules: How these NRIs, OCIs can save up to Rs 20,500 on $10,000 FD investment

NRIs can significantly reduce tax on NRE deposits in India, as this income is tax-exempt. While NRO account interest is taxable in India, NRIs can leverage Double Taxation Avoidance Agreements (DTAAs) to potentially lower their tax burden or claim credits in their country of residence, avoiding double taxation.

The Economic Times

Trump’s FEMA nominee promises ‘objective’ approach to disaster aid

His pledge comes as he seeks to take the helm of an agency that has faced threats of dismantling from the administration

The Independent UK

Trump's pick to lead FEMA pledges to be 'fair and reasonable' in assessing disaster aid requests

President Donald Trump’s nominee to lead the Federal Emergency Management Agency, is pledging to senators to be “fair and reasonable” in assessing requests for disaster

The Independent UK

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FEMA probe against Apollo Hospitals, 5 directors closed after compounding order: ED

A foreign exchange violation case against Apollo Hospitals and five directors has been terminated. The Reserve Bank of India issued a compounding order. Apollo Hospitals Enterprises Limited made a one-time payment of over Rs 17.76 crore. The executives also paid Rs 18 lakh each. This settlement resolves alleged contraventions totalling…

The Economic Times

NRE vs NRO: One account can make your interest tax-free, the other can attract over 30% TDS

NRIs and OCIs can use NRE accounts for overseas income and NRO accounts for India-sourced income, but tax treatment differs sharply. NRE interest is tax-free in India, while NRO interest attracts TDS and taxation. However, DTAA benefits may reduce the tax burden on NRO income and help avoid double taxation.

The Economic Times

The FEMA Map Change That Could Force You Into Flood Insurance

Flood insurance often sits low on a homeowner’s priority list—until a letter arrives in the mail that changes everything. Across the country, FEMA continues updating flood maps to reflect new data, shifting weather patterns, development, and changing landscapes. Those updates can move properties into higher-risk flood zones, even if they…

Everybody Loves Your Money

US Democratic lawmakers pledge to help speed up disaster recovery in Puerto Rico

A group of U.S. Democratic lawmakers have promised Puerto Ricans that they would try to speed up the island’s sluggish recovery from destructive hurricanes and earthquakes, a process that relies heavily on federal funds

The Independent UK

Under Trump’s proposed FEMA 2.0 nearly 30% of previous disaster declarations wouldn’t have been granted, group warns

The changes would also leave disaster survivors with fewer avenues for relief and raise insurance premiums, the group warned

The Independent UK

Zepto IPO: ED summons founders in FEMA matter, seeks shareholding, business details

The Enforcement Directorate sought details on foreign investments and overseas investments, audited balance sheets since FY21, owned immovable properties, shareholding pattern, loans and guarantees, income tax returns, bank accounts, and a note on Zepto’s business model, according to the updated prospectus.

The Economic Times

Why the U.S. Is Unprepared for a Potential Public Health Outbreak at the World Cup

The federal government allocated $625 million to World Cup security—and none of it went to public health. Just days away from the tournament, major concerns remain.

Sports Illustrated

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Axios

The last holdouts from the Kristi Noem era of the Department of Homeland Security

"As with any transition, there have been some personnel changes."

The Economic Times

FEMA case against Myntra closed following compounding: ED

Myntra's foreign exchange violation probe has concluded after the RBI issued a compounding order. The Enforcement Directorate gave its no objection, allowing the e-commerce platform to settle alleged FEMA contraventions involving over Rs 45 crore with a one-time payment of Rs 2.88 lakh. This move aligns with the government's 'ease…

The Economic Times

RBI clears Myntra's FEMA violations after penalty payment; ED closes investigation

The Reserve Bank of India has closed an Enforcement Directorate investigation into Myntra Designs Private Limited. This action follows the RBI compounding certain Foreign Exchange Management Act violations. The company faced allegations of delays in submitting overseas investment reports and undertaking commitments before compliance. The RBI imposed a one-time monetary…

The Economic Times

Vedanta, Hindustan Zinc shares fall after metals giant confirms ED visits to offices

Vedanta and Hindustan Zinc shares dipped after the Enforcement Directorate visited some of their offices as part of a FEMA probe. The companies confirmed the visits and stated they are fully cooperating with the authorities. This news comes after Vedanta's recent demerger and a positive rating upgrade from ICRA.

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International Business Times UK

Trump's Fired FEMA Nominee Returns to Lead Disaster Agency Hurting From 5,000-Worker Shortage

Trump has nominated Cameron Hamilton to lead FEMA, the same man he fired for defending the agency. More than 5,000 workers have left since January 2025.

The Economic Times

ED searches against Vedanta Group in FEMA case

Vedanta Group FEMA Case: The Enforcement Directorate is searching Vedanta Group properties in Delhi and Mumbai. This action is part of an investigation into alleged violations of the Foreign Exchange Management Act. The specific nature of these violations has not been officially revealed. The company's statement is awaited. Vedanta, a…

Medical Daily

HEALTH ALERT: Los Angeles Families Are Rebuilding Homes on Toxic Soil — And Federal Agencies Stopped Testing Before They Finished the Job

Seventeen months after the Palisades and Eaton wildfires consumed more than 16,000 structures across Los Angeles County in January 2025 — incinerating homes, vehicles, electronics, solar panels, and decades' worth of synthetic materials — families are returning to their properties and rebuilding.

The Conversation

Hurricane season is here: Federal flood insurance carries 2 moral hazards – which you face depends largely on how wealthy you are

Anyone who has been through a flood or hurricane knows the scene: waterlogged furniture piled on curbs, gutted homes with mold creeping up the walls, families displaced for months. But the recovery isn’t the same for everyone.

Everybody Loves Your Money

The One Thing Homeowners Forget During Hurricane Season That Costs Them Thousands

Hurricane season sends homeowners rushing to buy bottled water, batteries, plywood, and generators. Store shelves empty fast, gas station lines stretch for blocks, and everyone suddenly becomes a weather expert. Yet one of the most expensive hurricane mistakes happens long before the first rain band appears. Most homeowners completely forget…

Everybody Loves Your Money

Houston’s New Flood Maps Could Force Thousands to Buy Insurance—Are You on the List?

Houston homeowners already juggle rising property taxes, expensive repairs, and brutal summer utility bills, but a new financial headache now looms over thousands of households. Updated flood maps across the Houston area could suddenly place many homes inside high-risk flood zones, even if those properties never required flood insurance before.…

Everybody Loves Your Money

The Hidden Costs of Skipping Flood Insurance in Low-Risk Zones

Sunny skies and “low-risk” flood maps convince plenty of homeowners that flood insurance belongs in the same category as snow tires in Miami: unnecessary and expensive. That assumption creates a dangerous financial blind spot. Flooding does not politely follow neighborhood labels, and one bad storm can turn a “safe” property…

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