Finance Ministry
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Finance Ministry readies groundwork for next wave of bank consolidation
Business | May 27, 2019, 04:42 PM ISTIn 2019, the consolidation exercise is expected to revolve around Punjab National Bank (PNB) to take some smaller PSU banks under its ambit. The names of Syndicate Bank, Oriental Bank of Commerce, Andhra Bank and Allahabad Bank is being considered for the merger.
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Deadlines for filing April GST sales returns extended in Odisha's 14 districts
Business | May 13, 2019, 03:01 PM ISTThe due date for filing summary sales return GSTR-3B and GSTR-1 for April was earlier notified as May 20 and May 11, respectively.
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FinMin reworking strategic sale procedure for CPSEs
Business | May 12, 2019, 12:08 PM ISTHowever, for CPSEs like Air India, which are relatively bigger in size, the timeline for completion of strategic sale is likely to be fixed at 6 months from the date of issuance of Preliminary Information Memorandum (PIM) about the company.
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Economic growth may have slowed in 2018-19: Finance Ministry report
Business | May 03, 2019, 10:26 AM ISTThe Central Statistics Office (CSO), which released the national account data for the third quarter, had in February revised downwards the growth estimate for 2018-19 fiscal to 7 per cent from 7.2 per cent. The 7 per cent growth is the lowest in 5 years.
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Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks
Business | Feb 20, 2019, 07:03 PM ISTKumar further said Punjab National Bank will get Rs 5,908 crore, Union Bank of India Rs 4,112 crore, Andhra Bank Rs 3,256 crore and Syndicate Bank Rs 1,603 crore.
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Inflow to equity funds slump 60 per cent to Rs 6,158 cr in January
Business | Feb 12, 2019, 12:59 PM ISTMarket players attributed the decline in inflow to volatile market and political uncertainty, wherein the broader indices remained under pressure.
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Finance Ministry seeks transfer of Rs 27,380 cr from RBI retained towards risks, reserves
Business | Feb 10, 2019, 12:06 PM ISTThe RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It increased to Rs 14,190 crore in 2017-18. Together, retained amount is Rs 27,380 crore.
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Can't disclose black money reports as Parliamentary Panel examining them: Finance Ministry
India | Feb 04, 2019, 01:08 PM ISTThese estimates were based on various unverifiable assumptions and approximations, it had said.
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GST collections top Rs one lakh crore in January
Business | Jan 31, 2019, 08:54 PM ISTGST collections in January crossed Rs 1 lakh crore-mark after a gap of 2 months, the Finance Ministry said on Thursday.
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Foreign Portfolio Investors outflows at nearly Rs 6,000 crore in January
Business | Jan 27, 2019, 12:17 PM ISTAccording to data available with the depositories, FPIs withdrew a net amount of Rs 5,880 crore during January 1-25
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'Know Your Budget': Finance Ministry to educate general public with latest Twitter Series
Business | Jan 15, 2019, 09:20 PM ISTThe 'Know Your Budget' series, which explains the importance of Union Budget and its making, would continue for about a fortnight.
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Finance Secretary Ajay Narayan Jha gets one-month extension; appointed member of 15th Finance Commission
India | Jan 14, 2019, 10:12 PM ISTFinance Secretary Ajay Narayan Jha has been given one-month extension in service and appointed as the member of the 15th Finance Commission, according to a Personnel Ministry order.
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Finance Ministry considering to mandate declaration of GST registration status by composition dealers
Business | Jan 13, 2019, 11:57 AM ISTThe measure, once implemented, would check the widespread practice of composition dealers of charging GST from purchasers and not depositing it with the exchequer, PTI reported quoting an official.
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Finance Ministry may consider selling part of SUUTI holding in Axis Bank, ITC
Business | Jan 13, 2019, 10:52 AM ISTShares of Axis Bank settled at Rs 666.50, up 0.53 per cent, while ITC was up 2.02 per cent at Rs 295.40 at close of market hours on January 11.
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Printing of Rs 2000 notes reduced to 'minimum' by RBI, says top finance ministry official
Business | Jan 03, 2019, 07:27 PM ISTThe senior official said the RBI and the government from time to time decides on the quantum of currency to be printed on the basis of money in circulation.
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Indian economy projected to be fastest-growing major economy in next fiscal: FinMin
Business | Jan 02, 2019, 06:55 PM IST"Indian economy is projected to be the fastest-growing major economy in 2018-19 and 2019-20 (International Monetary Fund October 2018 database). This is borne by GDP growth of 7.6 per cent in the first half of 2018-19," it said.
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Direct tax-GDP ratio of 5.98 per cent during FY18 best in 10 years: Finance Ministry
Business | Jan 02, 2019, 06:52 PM ISTIn its 2018 review said, the ministry said: "There is a constant growth in direct tax-GDP ratio over last three years and the ratio of 5.98 per cent in Fiscal Year 2017-18 is the best DT-GDP ratio in last 10 years".
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Electoral bonds to be sold during January 1-10: Finance Ministry
India | Dec 27, 2018, 10:43 PM IST"The SBI, in the VII phase of sale of electoral bonds, has been authorised to issue and encash electoral bonds through its 29 authorised branches w.e.f. 01.01.2019 to 10.01.2019, the Finance Ministry said.
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FinMin's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
Business | Dec 21, 2018, 06:02 PM ISTBank of Baroda is the transferee bank, while Vijaya Bank and Dena Bank are the transferor banks in the amalgamation process, it added.
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Govt mulls additional Rs 30,000 cr capital infusion in PSU banks
India | Dec 13, 2018, 10:52 PM ISTAs part of the capital infusion plan announced by the Finance Ministry in October 2017, the government envisaged that public sector banks (PSBs) would raise Rs 58,000 crore from the stock markets by March 2019 to meet Basel III norms.