India needs 4-5 more SBI sized banks: FM Nirmala Sitharaman
Business | September 26, 2021 14:29 ISTHaving done 2 rounds of bank consolidation earlier, the Central govt in 2019 decided to merge 6 disparate and weak PSBs into four in one stroke.
Having done 2 rounds of bank consolidation earlier, the Central govt in 2019 decided to merge 6 disparate and weak PSBs into four in one stroke.
The new income tax e-filing portal developed by Infosys was launched on June 7 in a bid to ease the tax filing process and expedite the refund issue. However, taxpayers have been facing several problems in using the portal since its inception.
Till now, the Department of Public Enterprises was part of the Ministry of Heavy Industries and Public Enterprises.
The finance ministry on Friday asked state governments to accord priority to employees of banks and insurance companies for COVID-19 vaccination, saying they are exposed to high risks during these difficult times.
GST collections in April touched a record high of over Rs 1.41 lakh crore, indicating sustained economic recovery, the Finance Ministry said on Saturday.
For the fiscal ended on March 31, 2020, the ministry, in May last year, clarified that the period of stay of Non-Resident Indians (NRIs) and foreign nationals in India during the lockdown period would not be counted for the purpose of determining their residency status for the purpose of taxation.
Like every year, 'Halwa Ceremony' was held at Finance Ministry ahead of upcoming Union Budget.
In a representation to the government ahead of the Union Budget for 2021-22, the Aluminium Association of India said, "The Indian aluminium industry seeks immediate government support to tide over this challenging phase and look forward for supportive measures in the forthcoming Union Budget 2021-22.
The Finance Ministry on Monday released the 12th instalment of Rs 6,000 crore to states to meet the GST compensation shortfall, taking the total amount released so far under this window to Rs 72,000 crore.
The Ministry of Finance in a statement said it has released the ninth weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.
The Finance Ministry on Sunday said five states, including Tamil Nadu and Telangana, have been permitted to borrow an additional Rs 16,728 crore following completion of stipulated reforms for 'Ease of Doing Business'. Andhra Pradesh, Karnataka and Madhya Pradesh are the other states which have been permitted to borrow the extra amount.
The finance ministry on Friday sought ideas, suggestions and proposals for the annual budget of 2021-22. The Union Budget 2021, which will be the third budget of Modi's 2.0 government and Finance Minister Nirmala Sitharaman, is likely to be presented on February 1.
ITR Filing: The Finance Ministry has notified the extended due date for Income Tax Return (ITR) filing by individual taxpayers for FY 2019-20.
Issuing additional frequently asked questions (FAQs) on the 'scheme for grant of ex-gratia payment of the difference between compound interest and simple interest', it said credit card dues outstanding as on February 29 would be considered for giving relief to the borrowers.
The Delhi Police has arrested a former call centre employee for cheating his ex-colleague on the pretext of getting him a job in the Finance Ministry. The accused Gaurav Dutt hatched a conspiracy to dupe his friend to pay back his loans. In various instalments, he took Rs 1,54,000 from the victim.
India may have crossed the COVID-19 peak in September, TOI quoted the Finance Ministry as saying. The ministry, in its monthly economic outlook report for September, also cautioned that the disease was far from over and urged all stakeholders to push for economic recovery as positivity rate improves.
Days after government announced 2 options for States on the issue of meeting GST compensation, Finance Ministry sources on Monday said the entire shortfall of compensation to the states irrespective of whether it is on account of GST implementation or coronavirus pandemic will be compensated.
The Finance Ministry on Saturday dismissed rumoured reports that the government has banned or restricted hirings saying that there is no restriction or ban on filling up of posts in Government of India.
According to the CBDT, it received some representations which revealed that a few banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions were allowed free by these banks beyond which every transaction bears a charge, the CBDT noted.
The finance ministry is working on norms to regulate salary paid to retired central government employees re-appointed on contract and has proposed keeping nomination-based appointments at "bare minimum".
Top News
Latest News