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Finance Ministry

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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FinMin Brings CA, CS, Accountants Carrying Financial Transactions Of Clients Under Money Laundering Law

FinMin Brings CA, CS, Accountants Carrying Financial Transactions Of Clients Under Money Laundering Law

Thu, May 04, 2023

Notifying changes to the Prevention of Money-laundering Act on Thursday, the Finance Ministry brought in practicing chartered accountants, company secretaries, and cost and works accountants carrying financial transactions on behalf of their clients into the ambit of the money laundering law.

BIG BREAKING: No Plan To Change Capital Gain Tax Rules? Watch Details Here

BIG BREAKING: No Plan To Change Capital Gain Tax Rules? Watch Details Here

Tue, Apr 18, 2023

Big breaking news has come quoting the sources of the Finance Ministry. There are no plans to change capital gains tax rules. The news of change in tax rules is wrong. There are no plans to increase tax in LTCG.

Finance Ministry Sends Back 'DESH' Bill For SEZ To Commerce Ministry For Consideration: Source

Finance Ministry Sends Back 'DESH' Bill For SEZ To Commerce Ministry For Consideration: Source

Mon, Apr 03, 2023

According to the news quoting sources, the Finance Ministry has sent back the 'DESH' bill for SEZ to the Commerce Ministry for consideration. Know full news from Tarun Sharma.

Finance Ministry asks PSU banks to do proper monitoring of loans

Finance Ministry asks PSU banks to do proper monitoring of loans

Mon, Mar 27, 2023

During the two hours meeting with MDs and CEOs of PSBs, an open discussion was held on the global scenario amid the failure of the Silicon Valley Bank (SVB) and Signature Bank (SB), along with the issues leading to the crisis in Credit Suisse.

SVB, Credit Suisse crises: Finance Ministry asks PSU banks to submit report on strategies to avert key risks

SVB, Credit Suisse crises: Finance Ministry asks PSU banks to submit report on strategies to avert key risks

Mon, Mar 27, 2023

Finance Minister Nirmala Sitharaman asks public sector banks to keep a close watch on their businesses' status points, risks, and adverse exposure. She also asks banks to keep track of their trading books to ensure sufficient liquidity amid increasing debt and interest rates

Finance Ministry Clarifies On Confusion Over STT Hike On Selling Options

Finance Ministry Clarifies On Confusion Over STT Hike On Selling Options

Fri, Mar 24, 2023

The finance ministry today clarified that the securities transaction tax (STT) on selling options has been increased to 0.062% from 0.05% and not from 0.017% to 0.021% as mentioned in the latest amendment to Finance Bill 2023 that was passed by the Lok Sabha today.

Finance Bill provides tax relief to individuals earning marginally over Rs 7 lakh

Finance Bill provides tax relief to individuals earning marginally over Rs 7 lakh

Fri, Mar 24, 2023

As per the Finance Bill amendment, individual taxpayers earning marginally higher income than the no-tax ceiling of Rs 7 lakh will pay tax only on the differential income

Aadhaar-PAN linking: Congress Lok Sabha leader Adhir Ranjan writes to PM to extend deadline by six months

Aadhaar-PAN linking: Congress Lok Sabha leader Adhir Ranjan writes to PM to extend deadline by six months

Tue, Mar 21, 2023

Adhir Ranjan Chowdhury also urges the Centre to empower all local and sub post offices to help people get their PAN card linked with their Aadhaar card free of cost

Old Pension Scheme alternative: Discussions on for minimum guaranteed pension and additional income for pensioners, say Finance Ministry sources

Old Pension Scheme alternative: Discussions on for minimum guaranteed pension and additional income for pensioners, say Finance Ministry sources

Tue, Mar 21, 2023

Old Pension Scheme: Sources from the Ministry also confirmed that the contribution will increase without burdening the exchequer and the majority of the investment will be possible in an annuity to increase the pension.

Finance Ministry monitoring daily receipts and expenses in March to keep FY23 fiscal deficit in check

Finance Ministry monitoring daily receipts and expenses in March to keep FY23 fiscal deficit in check

Sun, Mar 05, 2023

The Finance Ministry has also asked the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC) to report flash figures. Besides, other non-tax and disinvestment receipts too would have to be reported on a daily basis, as per the memorandum.

Finance Ministry to meet heads of banks on February 22; to review progress ECLGS for MSMEs

Finance Ministry to meet heads of banks on February 22; to review progress ECLGS for MSMEs

Sun, Feb 19, 2023

The meeting between Finance Ministry and banks' heads is scheduled to be held on February 22 to review progress on ECLGS and Loan Guarantee Scheme for COVID-Affected Sectors (LGSCAS), sources said.

Gross direct tax collection surges 24% to Rs 15.67 lakh crore, net mop-up touches 79% of revised estimates

Gross direct tax collection surges 24% to Rs 15.67 lakh crore, net mop-up touches 79% of revised estimates

Sat, Feb 11, 2023

The revised estimates for the current fiscal pegged direct tax revenues at Rs 16.50 lakh crore, higher than the budget estimates of Rs 14.20 lakh crore.

Global bond indices not exclusive club or gymkhana; India will get into it on own terms: Top Govt Official

Global bond indices not exclusive club or gymkhana; India will get into it on own terms: Top Govt Official

Sun, Feb 05, 2023

India's policies will be based on domestic requirements, and there will not be any change to the stance to suit the fancy of global bond investors, he said.

Budget 2023: Finance Secretary T.V. Somanathan and DIPAM Secretary Tuhin Kanta Pandey On Budget

Budget 2023: Finance Secretary T.V. Somanathan and DIPAM Secretary Tuhin Kanta Pandey On Budget

Thu, Feb 02, 2023

In the exclusive interview with Zee Business, Finance Secretary T.V. Somanathan, and DIPAM Secretary Tuhin Kanta Pandey spoke about several aspects of the budget including why privatization was not on the budget agenda, tax slab changes, and many more.

Budget 2023: Govt may not come up with fresh divestment plans; likely to focus on privatisation of already announced PSU firms

Budget 2023: Govt may not come up with fresh divestment plans; likely to focus on privatisation of already announced PSU firms

Sun, Jan 29, 2023

The disinvestment target outlined in the Budget for the next fiscal is likely to be a scaled-down and realistic one, as the budgeted PSU sell-off target is going to be missed for the fourth year in a row this fiscal.

Finance Ministry to banks: Increase credit penetration and ensure availability in 112 aspirational districts

Finance Ministry to banks: Increase credit penetration and ensure availability in 112 aspirational districts

Sun, Jan 22, 2023

Launched by Prime Minister Narendra Modi in January 2018, the Aspirational Districts Programme (ADP) aims to transform the 112 most under-developed districts quickly and effectively across the country.

Budget 2023: Finance Ministry holds review meeting Public Sector Banks - 5 key points discussed

Budget 2023: Finance Ministry holds review meeting Public Sector Banks - 5 key points discussed

Thu, Jan 19, 2023

Budget 2023: Finance Ministry has a meeting with heads of public sector banks; officials from the Ministry of Corporate Affairs were also present at the meeting.

Finance Ministry deliberates steps taken to deal with cyber security issues

Finance Ministry deliberates steps taken to deal with cyber security issues

Wed, Jan 18, 2023

The symposium titled Financial Services Cyber Security (FINSCY) was organised by the Department of Financial Services (DFS) and Secretary Vivek Joshi inaugurated it, an official statement said.

Budget 2023 to be prepared with vision of next 25 years: Government

Budget 2023 to be prepared with vision of next 25 years: Government

Thu, Jan 12, 2023

The government has introduced several schemes, like the Agneepath scheme, and the Rozgar mela to boost employment, Karad pointed out.

Can unregistered persons claim tax refunds for cancelled contracts on GST portal? Finance Ministry says this

Can unregistered persons claim tax refunds for cancelled contracts on GST portal? Finance Ministry says this

Wed, Dec 28, 2022

The unregistered taxpayer can file for refunds within two years of the relevant date -- it would be the date of receipt of goods/services or letter of cancellation of contract/agreement.

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