In recent times many resident individuals, banking with various financial institutions, have used cards to carry out such international capital account transactions-oblivious that they were violating foreign exchange and banking rules. Some probably did it consciously to dodge the tax collected at source (TCS) or sidestep restrictions on overseas forex remittance.
AI stocks retreat as Democratic sweep puts data centre boom in focus
AI-related stocks came under pressure on Wednesday despite a broader Wall Street rally following the Democratic sweep of Congress. Data centre companies CoreWeave, Iren and