Finance Ministry
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Entities with sufficient funds, ability to run Air India can bid for 76% stake: Finance Ministry
Business | Apr 19, 2018, 01:26 PM ISTThe government had last month floated a preliminary information memorandum inviting bidders to buy 76 per cent stake in loss-making Air India along with transfer of management control.
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PNB issued over 41,000 Letters of Undertaking since 2011: Finance Ministry
Business | Mar 22, 2018, 07:35 PM ISTFraudulent LoUs of the state-owned PNB were used by diamantaire Nirav Modi and his associates to defraud the bank of about Rs 13,000 crore.
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Government removes Rs 10,000 monthly educational fee cap for martyrs' children
India | Mar 22, 2018, 03:41 PM ISTIn a note issued yesterday, the Finance Ministry said the educational concession will continue without the cap of Rs 10,000 per month.
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87 cr bank accounts linked with Aadhaar: Finance Ministry
Business | Mar 09, 2018, 08:41 PM ISTThe Union Ministry of Finance on Friday said more than 87 crore bank accounts have been linked with the 12-digit unique identity number Aadhaar in the country till early March. The deadline for linking Aadhaar to bank accounts is March 31.
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Indian economy will continue to have V-shaped recovery: Finance Ministry
Business | Mar 08, 2018, 09:58 PM ISTThe 3rd quarter growth of 7.2% was highest in 5 quarters. The previous high was recorded at 7.5% in the July-September quarter of 2016-17. In the first quarter of the current fiscal, the GDP grew at 5.7%, while the second quarter growth stood at 6.5%
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Cabinet approves Fugitive Economic Offenders Bill 2018 to seize all assets of offenders
Business | Mar 01, 2018, 11:57 PM ISTThis Bill also has a provision to confiscate assets of the offender in foreign land as well, for which the government will have to make arrangements with different countries.
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Finance ministry asks PSBs to examine all NPA accounts above Rs 50 crore for ‘possible fraud’
Business | Feb 27, 2018, 06:21 PM ISTIn a directive to Managing Directors (MDs) of all public-sector banks, the finance ministry has asked them to detect bank frauds and consequential wilful default in time and refer such cases to CBI.
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Finance Ministry gives PSBs 15-day deadline for pre-emptive plan to combat risks
Business | Feb 27, 2018, 04:25 PM ISTExecutive Directors and chief technology officers (CTOs) of PSBs have been asked to prepare a blueprint to enhance preparedness for combating increasing risks, Financial Services Secretary Rajiv Kumar said in a tweet.
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Govt releases list of 9500 'high-risk' non-banking financial companies
Business | Feb 26, 2018, 09:49 AM ISTThe list, prepared by Financial Intelligence Unit (FIU-IND), includes NBFCs found non-compliant to the Prevention of Money Laundering Act (PMLA) rules as on January 31.
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First batch of electoral bonds to go on sale from March 1-10: Finance Ministry
National | Feb 22, 2018, 07:49 PM ISTThe bonds will be sold at main branches of SBI in four metro cities -- New Delhi, Mumbai, Kolkata and Chennai.
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PNB-Nirav Modi fraud case: RBI cautioned banks against SWIFT misuse thrice since August 2016
Business | Feb 20, 2018, 08:35 PM ISTThe statement from RBI comes hours after Finance Minister Arun Jaitley said that the PNB scam was a result of a failure of management and auditors.
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PNB fraud: News about banks taking hit of $3 billion false, says FinMin
Business | Feb 20, 2018, 06:32 AM ISTThe clarification comes amid reports that banks could take a hit of more than $3 billion from loans and corporate guarantees provided to jewellery designer Nirav Modi and Gitanjali Group of Companies.
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PNB fraud: Nobody will be spared, says Finance Ministry
Business | Feb 16, 2018, 04:38 PM ISTPNB has detected a USD 1.77 billion (about Rs 11,400 crore) scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.
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3 PSU non-life insurance cos to meet on Feb 16 on merger
Business | Feb 14, 2018, 12:01 AM ISTAs part of divestment of public sector entities, the government has proposed in the Budget to merge National Insurance Company, United India Insurance and Oriental Insurance Company into one and subsequently list the new entity on stock exchanges.
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GST collections could cross Rs 1 lakh crore a month post anti-evasion steps
Business | Feb 13, 2018, 04:29 PM ISTCollections under the GST, implemented from July 1 last year, were over Rs 95,000 crore for the first month, while in August the figure was just over Rs 91,000 crore.
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Defence Ministry asks Finance Ministry to remove education fee cap for martyrs' children
India | Feb 10, 2018, 06:58 PM ISTOn July 1 last year, the government had issued an order saying the assistance under the scheme cannot exceed Rs 10,000 per month, triggering widespread discontent among all the three services.
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Centre a terrible patient, unwilling to listen to good doctor: P Chidambaram
National | Feb 10, 2018, 05:42 PM ISTAlleging that the country's economy was limping under the NDA rule, he said the government would contribute a new word to the Oxford English dictionary -- "jumla" (gimmick).
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Bank recapitalisation will boost lending: Arun Jaitley
Business | Feb 10, 2018, 05:26 PM ISTThe government's plans to spend Rs 2.11 lakh crore to recapitalise PSBs in a major step to restore the banking system's health.
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Direct tax kitty grows 19% to Rs 6.95 lakh crore in April-January period
Business | Feb 09, 2018, 11:19 PM ISTThe net direct tax collections represent 69.2 per cent of the revised estimates of Rs 10.05 lakh crore for direct taxes in 2017-18.
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'Modicare' to cost Rs 12,000 crore annually, may be launched on August 15 or October 2: Officials
Budget | Feb 02, 2018, 11:38 PM ISTThe 'National Health Protection Scheme' will be funded with 60 per cent contribution coming from the Central government and the remaining from the states.