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.

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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.

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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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7th Pay Commission: Lower-level employees may see pay, fitment factor hike in April

Mon, Feb 26, 2018

Union Finance Ministry has reportedly set up a panel to take a final call on demands of these employees by April this year.

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9,500 NBFCs seen as 'high risk' companies by Finance Ministry

Mon, Feb 26, 2018

It is being known that these NBFCs and co-operative banks were found converting banned Rs 500 and Rs 1000 notes during the demonetisation drive in November 2016. 

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Cabinet approves bill that seeks to ban crypto-linked ponzi schemes

Tue, Feb 20, 2018

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, on Tuesday gave approval to Unregulated Deposit Schemes Bill, 2018 that seeks to ban all unregulated deposit schemes.  

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PNB scam case: Supreme Court to hear bank plea on Friday

Tue, Feb 20, 2018

A petition seeking registration of cases against all those involved in the PNB fraud and “immediate deportation” of Nirav Modi seeks the formation of a committee to document the details of bad debts in the country

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7th Pay Commission: FinMin to begin work on draft proposal of central staff salary

Thu, Feb 08, 2018

Union Finance Ministry will soon begin the preparation for draft proposal related to the salaries of Central government employees, said media reports. The Central government staff will reportedly get hiked salary beyond the recommendation of the 7th Pay Commission from April 1.

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Budget 2018: Jaitley raises fiscal deficit target to 3.5% for FY18

Thu, Feb 01, 2018

India's fiscal deficit stands at Rs 6,12,105 crore in just eight months of FY19, overshooting the budgeted estimate (BE) target by 112% for the current financial year.

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Key Highlights of Union Budget 2018

Thu, Feb 01, 2018

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Budget FY19: Will there be any change in GST?

Thu, Feb 01, 2018

Economic Survey 2018  says, “GST promises to be a buoyant source of future revenues.”

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Govt plans to abolish posts vacant for 5 years

Tue, Jan 30, 2018

The government is planning to abolish all posts which have been vacant for more than five years, and has directed all ministries and department to submit a comprehensive report on the matter.

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India's external sector continues to be strong: Economic Survey

Mon, Jan 29, 2018

India’s external sector continued to be resilient and strong in 2017-18, observed the Economic Survey 2017-18 tabled in Parliament today by Union Finance & Corporate Affairs Arun Jaitley. International Developments

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Economic Survey calls for accountability to avoid low equilibrium trap

Mon, Jan 29, 2018

The survey pointed out that low level of tax collections by the local governments in rural areas is posing challenge in reconciling fiscal federalism and accountability. 

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Govt borrowings not necessarily reflect fiscal deficit, says Economic survey

Mon, Jan 29, 2018

India's fiscal deficit stands at Rs 6,12,105 crore in just eight months of FY18, overshooting the budgeted estimate (BE) by 112% for the current financial year.

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IBC a helping tool for twin balance-sheet, investment crisis: Economic Survey

Mon, Jan 29, 2018

The issue of twin balance-sheet and low private investment due to banks' stressed assets and over-leveraged corporate books hampering the growth prospects.

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GST promises to be a buoyant source of future revenues: Economic Survey

Mon, Jan 29, 2018

For understanding the current revenue performance, the survey explained that it requires all the  taxes that the GST replaced from an all-India perspective.

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Budget session begins; Economic Survey to be tabled today

Mon, Jan 29, 2018

It may noted that on February , the government will be presenting the General Budget for India. 

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Will govt take measures to upgrade digital infra in Budget 2018?

Thu, Jan 25, 2018

Transactions through digital means rose 6.05% to 1.06 billion in December 2017 from 997.1 million in November.

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Recapitalisation plan credit positive for all PSBs: Moody's

Thu, Jan 25, 2018

 The government will provide material capital infusions for even weak PSBs since IDBI, CBI and IOB received amongst the highest capital allocations, said Moody's.

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Will this upcoming Budget cheer common man, corporates?

Wed, Jan 24, 2018

It is expected that the government may increase the income tax exemption limit to Rs 3 lakh from currently Rs 2.5 lakh.

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How will RBI read the upcoming Budget?

Tue, Jan 23, 2018

Finance Ministry remains firm on its borrowing and fiscal deficit targets for this financial year.

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Pay Commission: Is govt considering an alternative for salary hike of Central staff

Tue, Jan 23, 2018

The 7th Pay Commission recommended that reviewing the pay matrix periodically instead of waiting for 10 long years to revise the salary and allowances

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