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Finance Ministry News
Banks asked to prevent defaulters from buying stressed assets
Sun, Nov 19, 2017
As many as 12 accounts each having more than Rs 5,000 crore of outstanding loans and accounting for 25% of total NPAs of banks are being under the Insolvency and Bankruptcy Code process.
7th Pay Commission: Govt to soon hear NAC's recommendation on minimum pay hike
Tue, Nov 07, 2017
Many media reports have stated that the proposal to implement recommendations of 7th Pay Commission has been approved by the Ministry.
Ease of Doing Business: 8 key areas that helped India jump 30 places
Wed, Nov 01, 2017
The World Bank on Tuesday said that India's ranking on the Ease of Doing Business rose 30 spots to stand at 100th position for the first time ever.
Government is planning to ease procedure of availing loans for MSMEs: Sources
Sat, Oct 28, 2017
Post recapitalisation of the PSU banks, the union government is planning to ease the procedure of availing loans for Ministry of Micro, Small and Medium Enterprises (MSMEs), a source aware of the development has told this to Zee Business.
First Installment for recapitalisation of PSU banks will be released in December, sources say
Thu, Oct 26, 2017
The Union Government will start infusing capital into public sector banks (PSBs) from December 2017, a source aware of the development has informed Zee Business. The recapitalisation bond will be cash neutral, the source further said.
RBI chooses inflation over growth, keeps repo rate unchanged
Wed, Oct 04, 2017
RBI has decided to keep key rates unchanged during its bi-monthly monetary policy meeting in Mumbai on October 4, 2017. RBI also revised GVA growth downwards to 6.7% from its earlier projection of 7.3%.
Finance Ministry allows exporters to show Letter of Undertaking in place of bond for GST
Sat, Sep 30, 2017
The Finance Ministry today announced that it will allow exporters to show Letter of Undertaking instead of a bond when exporting of goods or services or both.
Scope for a rate cut by RBI in next policy review, says Finance Ministry
Sat, Sep 23, 2017
The statement comes ahead of the Reserve Bank's bi-monthly monetary policy decision to be announced on October 4.
Arvind Subramanian will continue as CEA for 1 more year: Arun Jaitley
Sat, Sep 23, 2017
The Finance Ministry tweeted quoting Jaitley saying that CEA Arvind Subramanian will continue for one more year after completion of his 3 year tenure.
Real estate is easiest to bring under GST, Arun Jaitley says
Thu, Sep 21, 2017
Jaitley while addressing the 2nd India Investor Summit discussed various issues of Indian economy like inflation, black money, private investment, disinvestment, banks capital requirement and farm loan waiver.
Google to launch TEZ mobile payment service in India on Monday
Sat, Sep 16, 2017
According to an official communication Finance Minister Arund Jaitley said that Google's payment service Tez will launch on Monday.
Two lakh companies struck off, bank accounts inoperable: Govt
Tue, Sep 05, 2017
The government said that since such ‘Struck off`’ companies have ceased to exist, action has been initiated to restrict the operation of bank accounts of such companies.
Cabinet gives approval to increase GST cess on luxury cars
Wed, Aug 30, 2017
The Cabinet has approved the Finance Ministry's proposal to increase the GST cess on luxury cars by another 10%.
Here's why Mahindra will be impacted the most with hike in GST cess
Fri, Aug 25, 2017
Mahindra's higher exposure to the SUV segment makes it especially vunerable to the impact of the hike in the GST cess expected soon.
Public sector banks shares rise as Govt gives in-principle approval for mergers
Wed, Aug 23, 2017
Shares of public sector banks (PSBs) rose in trade on Wednesday afternoon as the government gave an in-principle approval for mergers between various PSBs.
Luxury car makers voice disappointment over GST Council's increase in cess
Mon, Aug 07, 2017
The GST Council's decision to increase the cess on luxury vehicles by an additional 10% is expected to see an increase in the prices of luxury cars.
SUVs, luxury cars to get expensive as GST Council recommends hike in cess to 25%
Mon, Aug 07, 2017
The GST Council has taken the decision to increase the rate in the cess charged on larger cars to 25% from the earlier GST cess of 15%.
Govt to sell up to 25% stake in 4 defence PSUs via IPO
Fri, Aug 04, 2017
The government is planning to list four of its defence PSUs by selling up to 25 per cent stake in each of them through an initial public offering (IPO).
Fake currency reports double; leads to seizure of Rs 562 crore in 2015-16
Sun, Jul 30, 2017
The report of the Financial Intelligence Unit (FIU), the premier technical snoop wing under the Finance Ministry, said the financial year 2015-16 saw a "record increase" in the detection of such instances.
Government seeks parliament approval for $1.7 billion extra spending
Wed, Jul 26, 2017
The Indian government on Wednesday sought parliament`s approval to spend an extra 106.5 billion rupees ($1.65 billion) in new spending in the fiscal year to March 2018, on top of an earlier approved spending of $333.3 billion in the annual budget.