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Finance Ministry News
Mudra loans disbursement cross Rs 1.8 lakh crore
Wed, Jul 19, 2017
The ministry said, "Loans under Pradhan Mantri Mudra Yojana (PMMY) Scheme have been extended by banks, Non Banking Financial Companies (NBFCs) and Micro Finance Institutions (MFIs) to small/micro business enterprises since April 08th 2015 with the objective of ‘Funding the unfunded’ through institutional finance by providing loans upto 10 lakh for manufacturing, processing, trading, services and activities allied to agriculture."
7th Pay Commission: Are revised allowances coming from July itself?
Sat, Jul 08, 2017
Now that finance ministry has asked central ministries to ensure recommendations made under 7th Pay Commission to be paid from current months salary.
Have zero tolerance on NPAs; fight cases: Finmin to banks
Sat, Jul 08, 2017
The ministry has been asking banks to take tough action against such borrowers and be ready to fight court cases as well.
Rs 200 notes to be a reality soon; RBI places printing order
Tue, Jul 04, 2017
After introducing new notes of Rs 2000 and Rs 500, the RBI is all set to introduce new Rs 200 notes in the country.
'War room' set up to deal with GST crises
Tue, Jun 27, 2017
Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna told PTI today that the unit will act as a quick resource centre for central and state government officials to address their queries on the historic tax reform scheduled to be implemented from July 1.
Department of Telecom asks Centre to cut its revenue target from the sector
Mon, Jun 19, 2017
Department of Telecom has asked for a revise in non-tax revenue targets for the current fiscal.
Finance Ministry asks PSBs to explore acquisition of smaller banks
Sun, Jun 18, 2017
The finance ministry has asked four large PSU lenders to explore opportunities for acquisition of small and mid-sized banks with a goal to create global sized lenders, sources said.
Aadhaar must to avail govt co-contribution under Atal Pension Yojna
Mon, Jun 12, 2017
Any individual who is eligible to receive benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication, the ministry said in a statement.
Is all well between RBI and FinMin? YV Reddy answers
Thu, Jun 08, 2017
Urjit Patel was asked if the finance ministry invite was an assault on the independence and autonomy of the RBI.
FDIs in India flat in 2016, but prospects bright: UNCTAD
Thu, Jun 08, 2017
The World Investment Report released by the UN agency in Geneva on Wednesday said that FDI rose by a paltry one % in 2016 to $44.486 billion from the $44.064 billion in 2015.
Revenue department sets up twitter handle to answer GST queries
Mon, May 29, 2017
With just over a month left for GST implementation, the revenue department today started a new twitter handle to answer industry queries related to the new indirect tax regime.
Finance Ministry initiates process for finding new State Bank of India's chief
Sun, May 28, 2017
As SBI's chief Arundhati Bhattacharya's extended four-year term comes to an end on October 6 this year, the Finance Ministry has initiated the process for finding new chief for the bank.
Telcos need to rejig their costing, prices under GST: Government
Fri, May 26, 2017
Telecommunication services currently attract a service tax of 14 per cent, along with Swachh Bharat Cess (SBC) of 0.5 per cent and 0.5 per cent Krishi Kalyan Cess (KKC).
EPFO to take call on increasing ETF investment to 15%: Labour Minister
Mon, May 22, 2017
The Finance Ministry had earlier notified a new investment pattern for EPFO, allowing the body to invest a minimum of 5 per cent and up to 15 per cent of its funds in equity or equity-related schemes.
Jammu & Kashmit GST Council meet begins today
Thu, May 18, 2017
The GST Council headed by Jaitley is meeting here to take a final call on the new taxation regime and finalise the rates of different commodities and services.
7th Pay Commission: Central Govt employees may get maximum monthly HRA hike up to Rs 48,000 from June
Sat, May 13, 2017
The Central government employees are likely to get maximum monthly hike in house rent allowance (HRA) by up to Rs 48,000 from June this year as per the 7th Pay Commission recommendations.
Urjit Patel meets Finance Ministry officials to discuss NPA resolution issues
Fri, May 12, 2017
Besides RBI governor, Financial Services Secretary, other senior officials of finance ministry and RBI were present in the meeting.
7th Pay Commission: Here are 9 key things for pensioners
Thu, May 04, 2017
It said, "With the increase approved by the Cabinet, the annual pension bill alone of the Central Government is likely to be Rs1,76,071 crore."
7th Pay Commission: Will allowance committee submit report on Thursday?
Mon, Apr 24, 2017
The committee was expected to submit the report by April 18 after the "crucial" meeting held on April 6, which did not happened.
At 8.65%, investing in EPF a better option than fixed deposits
Wed, Apr 19, 2017
EPF and tax-saving fixed deposits both earn a tax break of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.