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GNPA of PSBs declines to 3.12% in September from peak of 14.58% in March 2018: Finance Ministry

GNPA of PSBs declines to 3.12% in September from peak of 14.58% in March 2018: Finance Ministry

Thu, Dec 12, 2024

Gross non-performing assets (NPAs) of public sector banks (PSBs) have declined to a decade low of 3.12 per cent at the end of September 2024 from a peak of 14.98 per cent in March 2018 on the back of measures like the 4Rs -- recognition, recapitalisation, resolution, and reform -- taken by the government, the finance ministry said on Thursday.

Insurance Amendment Bill proposing 100% FDI unlikely in winter session

Insurance Amendment Bill proposing 100% FDI unlikely in winter session

Sun, Dec 08, 2024

Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may not be introduced in Parliament in the ongoing session, sources said. Some finetuning may be required in the draft Bill after receiving comments from stakeholders, sources said.

Finance Ministry proposes to raise FDI in insurance to 100%

Finance Ministry proposes to raise FDI in insurance to 100%

Thu, Nov 28, 2024

The finance ministry has proposed to amend various provisions of the Insurance Act, 1938, including raising foreign direct investment (FDI) in insurance sector to 100 per cent, reduction in paid-up capital, and provision for composite licence.

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Finance Ministry weighs options for consolidation in banking sector

Finance Ministry weighs options for consolidation in banking sector

Sun, Jul 01, 2018

The presentation talked about advantages and challenges of merger but it also highlighted that fragmented approach of the banks is acting as an impediment in their growth. Various permutation and combinations are being examined, sources said, but added that no decision has been taken yet.

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

Sun, Jul 01, 2018

One year of GST: Consumers saw a small increase in costs of purchasing financial products and availing financial services.

GST brought down prices of these products; here is full list

GST brought down prices of these products; here is full list

Sun, Jul 01, 2018

One year of GST: 12 months have already passed since the goods and services tax (GST) was rolled out by PM Narendra Modi.

GST hiked prices of these products; check full list

GST hiked prices of these products; check full list

Sun, Jul 01, 2018

One year of GST: Much to the disappointment of the common man, prices of many daily use products jumped after GST was implemented. FMCG was one of the major sector that witnessed structural change on account of GST.

One year of GST: Has this regime brought ‘ache din’ to taxpayers?

One year of GST: Has this regime brought ‘ache din’ to taxpayers?

Sun, Jul 01, 2018

One year of GST: This regime replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime.

One year of GST: Tax revenue falls short of FY18 target; will FY19 be better?

One year of GST: Tax revenue falls short of FY18 target; will FY19 be better?

Sun, Jul 01, 2018

One year of GST: The goods and services tax (GST) has wrought major changes in India, but it needs to also note the revenue generated from this regime fell short of government’s FY18 target as well.

One year of GST: FinMin pays tribute to spirit of cooperative federalism, declares July 1 as 'GST Day'

One year of GST: FinMin pays tribute to spirit of cooperative federalism, declares July 1 as 'GST Day'

Sun, Jul 01, 2018

One year of GST: This regime replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime. Fittingly, it boasted a tagline - ‘One Nation, One Tax’.

GST payers can approach jurisdictional tax officer to change username, password

GST payers can approach jurisdictional tax officer to change username, password

Thu, Jun 14, 2018

"With a view to address this difficulty of the taxpayer, a functionality to update e-mail and mobile number of the authorised signatory is available in the GST system.

Arguments between Finance Ministry and RBI are a good sign for the economy: Sanjeev Sanyal, Principal Economic Adviser

Arguments between Finance Ministry and RBI are a good sign for the economy: Sanjeev Sanyal, Principal Economic Adviser

Mon, Jun 11, 2018

The economic growth of recent past is here to stay and continue well into the future because this growth is backed by certain policy decisions like GST and Insolvency and Bankruptcy Code (IBC), Sanjeev Sanyal, Principal Economic Adviser, Ministry of Finance, told Anil Singhvi, Managing Editor of Zee Business, in an exclusive talk.

FinMin may transfer 5 sick CPSE shares to a fund to meet Sebi norm

FinMin may transfer 5 sick CPSE shares to a fund to meet Sebi norm

Sun, Jun 10, 2018

The Finance Ministry is planning to transfer shares of five sick CPSEs including HMT and Andrew Yule & Company, to the SNIF fund to meet Sebi's minimum 25 per cent public shareholding.

Finmin ties up with e-commerce firms to give loans under PMMY

Finmin ties up with e-commerce firms to give loans under PMMY

Wed, May 23, 2018

The three way partnership between lenders, industry and the government aims to facilitate small business loans.

Finmin not seeking relaxation of RBI's PCA framework, PSBs told to focus on core biz

Finmin not seeking relaxation of RBI's PCA framework, PSBs told to focus on core biz

Mon, May 21, 2018

Finance Minister Piyush Goyal last week met heads of 11 public sector banks (PSBs) which have been identified under the PCA to check their deteriorating financial health and promised all possible help to strengthen them.

After ATM cash crunch, RBI rushes to print Rs 500 currency notes; output up 5x

After ATM cash crunch, RBI rushes to print Rs 500 currency notes; output up 5x

Tue, May 15, 2018

To build up cash reserves in the wake of the recent cash crunch, the Reserve Bank of India (RBI) has increased the printing of bank notes by five-fold, a senior finance ministry official told DNA Money.

Setback for SBI as 6 foreign branches ordered shut by Centre, including one in China

Setback for SBI as 6 foreign branches ordered shut by Centre, including one in China

Tue, May 01, 2018

The State Bank of India (SBI) has decided to shut six non-viable overseas branches in China, Sri Lanka, Oman, Saudi Arabia, France and Botswana by 2019, following directions from the Finance Ministry, DNA has learnt.

NIC, OIC, UII merger: Tenders for appointment of external agency to be notified soon, say sources

NIC, OIC, UII merger: Tenders for appointment of external agency to be notified soon, say sources

Thu, Apr 19, 2018

The consultant will also be responsible to look into the balance sheet, IT and employees of these companies. The government wants to complete the merger process in the ongoing financial year. However, before kicking-off the merger of these PSU GICs, the government will have to amend the existing General Insurance Business (Nationalization) Amendment Act 2002.

Cash crunch at ATMs hits public, government vows to print more notes

Cash crunch at ATMs hits public, government vows to print more notes

Tue, Apr 17, 2018

In a bid to tackle the "unusual" currency demand, the government has also decided to increase printing of Rs 500 notes by five times. Taking stock of the situation the Reserve Bank of India (RBI) said there is sufficient cash in the RBI vaults and currency chests.

Black money: 5 power points that reveal wrongdoing to banks

Black money: 5 power points that reveal wrongdoing to banks

Tue, Mar 13, 2018

The cases of reported suspicious financial transactions, as per India's Finance Ministry, have grown by an alarming rate in the last three years. The cases in fact went up from as less as 45,858 in the year 2014-15 to 61,361 in 2015-16 and 361,000 in 2016-17.

India to get sovereign rating upgrade? Here is what FinMin wants Fitch to do

India to get sovereign rating upgrade? Here is what FinMin wants Fitch to do

Tue, Mar 06, 2018

The government will tomorrow pitch for a sovereign rating upgrade with global agency Fitch, highlighting reform push in taxation and PSU banks and its plans to gradually lower government debt.According to sources, representatives from Fitch are scheduled to meet Chief Economic Advisor Arvind Subr

India's fiscal deficit stands at 113.7%, overshoots budgeted estimate target

India's fiscal deficit stands at 113.7%, overshoots budgeted estimate target

Wed, Feb 28, 2018

Fiscal deficit occurs when a government's total expenditure exceeds the revenue that it generates, excluding money from borrowings.

PNB fraud: To catch a thief, Centre has these 12 tough steps; in brief, read all about it

PNB fraud: To catch a thief, Centre has these 12 tough steps; in brief, read all about it

Tue, Feb 27, 2018

RBI data suggests that between 2013 and 2017, a total of 17,504 cases of frauds were reported by public and private banks. Of these, about 2,084 had insider involvement.

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