Digital Payment will soon be country’s norm: Finance Ministry
India | Sep 04, 2018, 06:42 AM ISTThe real-time bank-to-bank payment system on mobile platform UPI registered 312.02 million transactions in August, up by 32 per cent in July.
The real-time bank-to-bank payment system on mobile platform UPI registered 312.02 million transactions in August, up by 32 per cent in July.
The government has yet not invoked relevant provisions of the Integrated Goods and Services Tax Act, the ministry said.
The total number of GSTR-3B returns filed for the month of May up to June 2018 is 64.69 lakh, the finance ministry said in a statement.
GST has been historic and game changer reform for the Indian economy, Arun Jaitley said while addressing a function commemorating the first year of the implementation of the Goods and Services Tax.
A vibrant example of cooperative federalism and a ‘Team India’ spirit, GST has brought a positive change in the Indian economy, PM Modi said in a series of tweets today. He claimed that the tax reform has brought growth, simplicity and transparency.
The media reports also said the government had sought the views of insurance regulator IRDAI and markets watchdog Sebi on the move. IRDAI does not allow LIC or any other insurer to own more than 15 per cent in any company.
The 'Panama Paper leaks' were originally revealed by the International Consortium of Investigative Journalists (ICIJ) on April 4, 2016, following which, the Indian government had set up the MAG to probe the matter.
Kumaraswamy reportedly told Congress leaders that it has been the convention in coalition government in Karnataka to allow the junior partner to keep the finance portfolio.
Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
The body has written to Reserve Bank Governor Urjit Patel and finance ministry seeking reintroduction of the crucial trade finance instruments
The 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.
Fraudulent 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.
In a note issued yesterday, the Finance Ministry said the educational concession will continue without the cap of Rs 10,000 per month.
The 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.
The 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%
This 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.
In 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.
Executive 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.
The 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.
The bonds will be sold at main branches of SBI in four metro cities -- New Delhi, Mumbai, Kolkata and Chennai.
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