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Finance Ministry News
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.
EPFO to provide 8.65% interest on EPF for FY17: Bandaru Dattatreya
Thu, Apr 13, 2017
Labour Minister Bandaru Dattatreya said on Thursday that EPFO has decided to provide 8.65% interest rate on provident fund (PF) deposits for the financial year 2016-17 (FY17).
Govt lowers interest rates on small saving schemes like PPF, Kisan Vikas Patra, others by 0.1%
Fri, Mar 31, 2017
The government has lowered interest rates on small saving schemes like Public Provident Fund (PPF), Kisan Vikas Patra and Sukanya Samriddhi Scheme by 0.1% for the April-June quarter of the fiscal year 2017-18 (FY18).
Boosting private sector investment in India challenging: Arvind Subramanian
Wed, Mar 29, 2017
Boosting private sector investment remains a challenge for the Indian economy, Arvind Subramanian, chief economic adviser to the finance ministry told the annual Credit Suisse Asian Investment Conference in Hong Kong on Wednesday.
JSW Steel keen to snap up troubled steel cos for expansion
Sun, Mar 26, 2017
JSW Steel is keen to capitalise on the stress in the sector by acquiring distressed alloy companies so that it can expand its capacity faster, a top official has said.
CBEC to be renamed as Central Board of Indirect Taxes and Customs ahead of GST
Sat, Mar 25, 2017
Reorganisation of the field formations of CBEC for the implementation of GST has been approved by Finance Minister Arun Jaitley.
Competition Commission imposes Rs 591 crore penalty on Coal India
Sat, Mar 25, 2017
"CCI has imposed a penalty of Rs 591.01 crore upon CIL for the abusive conduct," it said.