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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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Govt may present next Union Budget in January

Govt may present next Union Budget in January

Mon, Aug 22, 2016

GST rollout would also subsume various exemptions and cesses, which would obliviate the need for their presentation in the Budget.

Government to bear card payment transaction costs

Government to bear card payment transaction costs

Tue, Aug 16, 2016

In order to promote cash-less economy, the government has said it will bear the transaction cost for all payments made to it through debit or credit cards and net banking.

Govt may merge Railway, Union budget from next fiscal

Govt may merge Railway, Union budget from next fiscal

Sun, Aug 14, 2016

In June, Prabhu wrote a letter to the Prime Minister's Office (PMO) after NITI Aayog's member Bibek Debroy recommended the move.

Tax concessions may cost India Rs 6 lakh crore this year

Tax concessions may cost India Rs 6 lakh crore this year

Wed, Aug 03, 2016

“No sector wise details of industry are however maintained and section wise details of revenue impact of direct tax incentives is presented before Parliament with Budget in the form of document titled, 'Statement of Revenue Impact of Tax Incentives under the Central Tax System',” said Santosh Kumar Gangwar, Minister of State (MoS), Finance Ministry.

Govt misses disinvestment target by over Rs 45,000 crore in last financial year

Govt misses disinvestment target by over Rs 45,000 crore in last financial year

Tue, Aug 02, 2016

The budget estimate for disinvestment during FY2015-16 was Rs 69,500 crore which comprised of Rs 41,000 crore from disinvestment of CPSEs and Rs 28,500 crore from strategic disinvestment.

Raghuram Rajan wants monetary policy panel formed before he departs RBI

Raghuram Rajan wants monetary policy panel formed before he departs RBI

Mon, Aug 01, 2016

The government has yet to appoint a replacement for Rajan, a former International Monetary Fund chief economist whose appointment in 2013 had boosted investor confidence in India`s management of its economy.

7th Pay Commission: You will get all arrears with your August salary!

7th Pay Commission: You will get all arrears with your August salary!

Fri, Jul 29, 2016

It is good news for one crore government employees and pensioners after all. The Government of India on Friday announced to pay its employees arrears arising from implementation of the 7th Pay Commission recommendations in one installment in August salaries.

PSUs will require Rs 99000 crore capital infusion in four years: Nomura

PSUs will require Rs 99000 crore capital infusion in four years: Nomura

Fri, Jul 22, 2016

Out of Rs 22,915 crore infused, the government allocated Rs 7575 crore to State Bank of India.

SIT Black Money Report: Here are other countries with cash transaction limits

SIT Black Money Report: Here are other countries with cash transaction limits

Fri, Jul 15, 2016

Regarding the limits on cash transactions and cash holding the SIT report drew on the examples of countries in which such restrictions have been imposed in order to curb black money. These countries include France, Portugal, Hungary, Slovakia, Czech Republic, Spain, Bulgaria, Belgium, Greece and Italy.

Banking Reforms: 10 lakh employees to go on strike on July 29

Banking Reforms: 10 lakh employees to go on strike on July 29

Wed, Jul 13, 2016

United Forum of Banks Unions, in a notice on Tuesday July 12, 2016 said that nearly 10 lakh employees and officers of public sector banks will go on a nation-wide strike on July 29.

Coal India to spend Rs 3650 crore on share buyback; stock falls

Coal India to spend Rs 3650 crore on share buyback; stock falls

Tue, Jul 12, 2016

The state-run company announced that around 10.89 crore shares will be buyback at Rs 335 per share.

Challenge is to grow in double digits, says new MoS Finance Meghwal

Challenge is to grow in double digits, says new MoS Finance Meghwal

Wed, Jul 06, 2016

Prime Minister shuffled and expanded his ministers on Tuesday June 5, 2016. Jayant Sinha, who was the Minister of State Finance has been moved to Civil Aviation Ministry in the same role and his position at the finance ministry has been filled by Arjun Ram Meghwal.

Finance Ministry defends Shaktikanta Das on allegations of land allocation at below market rates

Finance Ministry defends Shaktikanta Das on allegations of land allocation at below market rates

Tue, Jul 05, 2016

In a post on its Facebook page the spokesperson of the Finance Ministry said that the allegation is totally false and mischievous.

Govt likely to make first round of capital infusion in PSBs within next few weeks

Govt likely to make first round of capital infusion in PSBs within next few weeks

Mon, Jul 04, 2016

The Finance Ministry has finalised plan for the first round of capital infusion for public sector banks and funds would be granted to some of the lenders within next few weeks.

Govt may not cut excise duty on petrol, diesel in near-term

Govt may not cut excise duty on petrol, diesel in near-term

Sun, Jul 03, 2016

Government may not cut excise duty on petrol and diesel in the near-term if it accepts the suggestions made in the approach paper submitted by Chief Economic Adviser for maintaining status quo when oil prices can climb by another $15 a barrel.

571 aspiring startups file applications with DIPP for tax benefits

571 aspiring startups file applications with DIPP for tax benefits

Sun, Jul 03, 2016

Seven have submitted all documents and are eligible for Startup India benefits and tax exemption and 106 have submitted all documents but are not eligible for tax exemptions, Startup India said in its tweet.

News Tonight : Govt may declare to issue seventh pay commission soon

News Tonight : Govt may declare to issue seventh pay commission soon

Tue, Jun 28, 2016

Watch this special segment and get to know more here.

7th Pay Commission: Govt allocates Rs 70,000 crore for its implementation

7th Pay Commission: Govt allocates Rs 70,000 crore for its implementation

Mon, Jun 27, 2016

The Government of India has allocated Rs 70,000 crore for the implementation of 7th Pay Commission for government employees in the Union Budget 2016-17.

Bank mergers likely to happen after SBI consolidation: Finance Ministry

Bank mergers likely to happen after SBI consolidation: Finance Ministry

Sun, Jun 26, 2016

Banks can only make acquisitions when they have financial might which is subdued at the moment due to clean up exercise of balance sheet.

Monetary policy committee rules to be notified in few weeks: Shaktikanta Das

Monetary policy committee rules to be notified in few weeks: Shaktikanta Das

Sun, Jun 26, 2016

Members of the MPC will be appointed for a period of four years and will not be eligible for reappointment.

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