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Finance Ministry

India, Qatar sign MoU for economic, financial cooperation

India, Qatar sign MoU for economic, financial cooperation

Tue, Mar 11, 2025

The Memorandum of Understanding (MoU) on financial and economic cooperation was signed between the two countries on February 18 during the visit of Amir of Qatar Sheikh Tamim Bin Hamad Al-Thani to India.

Finance Ministry invites applications for IRDAI Chairman post

Finance Ministry invites applications for IRDAI Chairman post

Mon, Mar 10, 2025

The Finance Ministry has invited applications to fill up the post of IRDAI chairperson, as the incumbent chief Debasish Panda's term ends on March 13.

Government extends duty-free import on Yellow Peas, reduces duty on Masoor Dal

Government extends duty-free import on Yellow Peas, reduces duty...

Sat, Mar 08, 2025

The Finance Ministry has extended the duty-free import of Yellow Peas until May 31, 2025.

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PM Narendra Modi promises more reforms, says note ban short-term pain

PM Narendra Modi promises more reforms, says note ban short-term...

Sat, Dec 24, 2016

Prime Minister Narendra Modi on Saturday hinted at unleashing more radical reforms, saying his government will not shy away from taking difficult decisions that are in national interest and admitte

Arun Jaitley faces hurdles for launch of GST by April 2017

Arun Jaitley faces hurdles for launch of GST by April 2017

Sat, Dec 24, 2016

The prospects of introducing a goods and services tax (GST) in India next April, its biggest tax reform, faded on Friday after central and state finance officials postponed talks on how to administ

RBI's latest currency disbursal figures: The math still doesn't add up

RBI's latest currency disbursal figures: The math still does...

Fri, Dec 23, 2016

On December 7, during the monetary policy press conference, the Deputy Governor of RBI, R. Gandhi, informed the media that a total of Rs 4 trillion or Rs 4 lakh crore had been disbursed to the public in new currency notes till the day before.

Government limits charges on electronic fund transfer

Government limits charges on electronic fund transfer

Wed, Dec 21, 2016

RBI has also rationalised the Merchant Discount Rate (MDR) for debit card transactions up to Rs 2,000 for the 3-month period.

Retirement fund body EPFO likely to retain 8.8% interest on EPF for FY17

Retirement fund body EPFO likely to retain 8.8% interest on EPF f...

Sun, Dec 18, 2016

Retirement fund body EPFO is likely to retain 8.8% rate of interest on EPF deposits for the current fiscal for its over four crore subscribers -- same as 2015-16 -- at its trustees meeting on Decem

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Labour Ministry wants to retain 8.8% interest on EPF for FY17

Thu, Dec 15, 2016

The Labour Ministry is pitching for retaining 8.8 % interest rate on EPF deposits of over 4 crore subscribers of the retirement fund body EPFO for 2016-17 and trying to bring the Finance Ministry o

Indian economy well cushioned to absorb Fed rate hike impact: Finance Ministry

Indian economy well cushioned to absorb Fed rate hike impact: Fin...

Thu, Dec 15, 2016

The Indian economy is "well cushioned" to absorb the impact of U.S.

Banks must keep deposits record of scrapped, valid notes: Finance Ministry

Banks must keep deposits record of scrapped, valid notes: Finance...

Mon, Dec 12, 2016

To avoid any malpractices, the government on Sunday asked all public sector banks to strictly maintain record of deposits made through both old Rs 500 and Rs 1,000 notes and other valid currencies.

23% Jan Dhan accounts still without balance; deposit surge abates

23% Jan Dhan accounts still without balance; deposit surge abates

Sun, Dec 11, 2016

Despite a huge surge in total deposits in Jan Dhan accounts following demonetisation, about one-fifth of these still continue to have no balance.

Hike in fares likely as Indian Railways mulls ways to raise resources

Hike in fares likely as Indian Railways mulls ways to raise resou...

Sun, Dec 11, 2016

Train passengers may have to shell out more as Indian Railways is mulling increasing fares in a bid to raise resources after the Finance Ministry rejected its proposal of a special safety fund.

Demonetisation: I-T department seizes Rs 130 crore in cash & jewellery since Nov 8

Demonetisation: I-T department seizes Rs 130 crore in cash &...

Wed, Dec 07, 2016

The Income Tax Department (I-T) has carried out investigations into over 400 cases post-demonetisation seizing as much as Rs 130 crore in cash and jewellery, an official statement said on Tuesday.

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

EPFO invests Rs 9,723-crore in ETFs, earns 9.17% absolute return

Mon, Nov 28, 2016

Retirement fund body EPFO has invested Rs 9,723 crore in exchange traded funds (ETFs) till October this year while absolute return on these investments was 9.17%, Parliament was informed on Monday.

Govt hikes import tariff value on gold, silver

Govt hikes import tariff value on gold, silver

Tue, Nov 01, 2016

The government on Monday hiked import tariff value on gold and silver marginally to $414 per 10 grams and $577 per kg, respectively, taking into account global trends.

Finance Ministry declines to share black money assessment reports

Finance Ministry declines to share black money assessment reports

Sun, Oct 23, 2016

The Finance Ministry has declined to share reports submitted to it nearly three years ago on the quantum of black money held by Indians inside the country and abroad, saying it will cause breach of

Debit card data breach: Too small a number or a wake up call for JAM?

Debit card data breach: Too small a number or a wake up call for...

Fri, Oct 21, 2016

Finance Ministry of India on Friday said that the number of debit cards impacted by the data breach is 0.5%.

Govt unlikely to go in for cut in public expenditure in FY17

Govt unlikely to go in for cut in public expenditure in FY17

Mon, Oct 17, 2016

The revenue deficit for current fiscal has been bettered to 2.5% of GDP, from the budgeted 2.8%.

SBI says 'consistently' passed on RBI's rate cut to borrowers

SBI says 'consistently' passed on RBI's rate cut t...

Mon, Oct 10, 2016

"Of the 175 bps (1.75 per cent) cut that the Reserve Bank (RBI) has done, we as a bank have passed on 95 bps (0.95 per cent). More will get passed on in the near term rather than in the longer term," Bhattacharya said in an interview to CNBC TV18.

Will GST implementation change FinMin's Budget plans?

Will GST implementation change FinMin's Budget plans?

Thu, Oct 06, 2016

The Cabinet has also given its permission to the merger of the Plan and the Non-Plan classification in the Budget and Accounts.

FinMin plans to take away RBI's debt management role in two years

FinMin plans to take away RBI's debt management role in two...

Wed, Oct 05, 2016

In about two years, the cell would be upgraded to a statutory public debt management agency.

Finance Ministry begins separating public debt management from RBI

Finance Ministry begins separating public debt management from RB...

Wed, Oct 05, 2016

"This interim arrangement will allow separation of debt management functions of RBI to PDMA in a gradual and seamless manner, without causing market disruptions. The PDMC shall be upgraded to a statutory PDMA, in about 2 years," it said.

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