Tuesday, October 26, 2021
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Finance Ministry

Finance Ministry relaxes spending norms

Finance Minister Nirmala Sitharaman in the Budget 2021-22 had announced a sharp increase in capital expenditure and provided Rs 5.54 lakh crore.

Assocham seeks reimposition of moratorium amid rising Covid cases

"Given the increasing pressure on businesses, it would be imperative to extend the NCLT moratorium until December 2021," the Assocham said in its representation to the Finance Ministry

Indirect tax revenue up 12pc, exceeds Revised Estimates

In the Revised Estimates (RE) for 2020-21, the target was set at Rs 9.89 lakh crore.

Centre may revisit bank recapitalization plan for PSBs

The Budget allocated Rs 20,000 crore towards the recapitalization of PSBs to help them consolidate their financial capacity.

Foreign Portfolio Investment inflow of Rs 2.74 lakh cr in equity markets

This reflects steadfast confidence of foreign investors in the fundamentals of the Indian economy, the Finance Ministry said in a statement

Centre withdraws decision on cut in PPF, NSC rates

The government had revised the interest rates on small savings with effect from April 1, which has now been rolled back.

FinMin asks Sebi to address issues that led to NSE outage

Foreign Portfolio Investors (FPIs) had made a net investment of Rs 2,332 crore on February 24, 2021.

Finance ministry to infuse Rs 14,500 cr in banks

Infusion will be made in the next few days, the sources said, adding the biggest beneficiary of this round of capital infusion would be the banks that are under the prompt corrective action

FinMin seeks applications for Irdai Whole Time Member post

The applicant should not be below the rank of a Chief General Manager of the Reserve Bank of India or equivalent thereto in other financial institutions or regulatory bodies, it said.

Govt brings insurance brokers within ombudsman ambit

The government on March 2 notified comprehensive amendments to the Insurance Ombudsman Rules, 2017, with a view to improve the working of the insurance ombudsman mechanism.

Centre releases Rs 1 lakh crore GST compensation to States since Oct

The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories

FinMin to infuse Rs 3,000 cr in general insurance companies this quarter

Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared proposal to provide capital support to National Insurance, Oriental Insurance and United India Insurance.

FIEO asks Fin Min to relook at ‘harsh’ provision in Budget for exporters

Federation of Indian Export Organisations (FIEO) President S K Saraf said certain provisions brought through the Finance Bill have "serious" bearing on exports.

Four more states complete ease of doing business reforms

With this, these states have become eligible to mobilise additional financial resources and have been granted permission to raise additional Rs 5,034 crore through Open Market Borrowings.

Telangana gets additional Rs 179 crore for capital expenditure

The projects have been approved under the newly-launched scheme of 'Financial Assistance to States for capital projects'.

Air of optimism

While one can take comfort in IMF’s praise for India’s “very decisive” steps to deal with the pandemic, several challenges need to be overcome

Finance Ministry evaluating PSB recapitalisation avenues

Setting up a BIC as a holding company or a core investment company was suggested by the P J Nayak Committee in its report on 'Governance of Boards of Banks in India'.

Covid disturbs traditions: In a first, Budget to go paperless

This is a historic move as it will be for the first time in the history of independent India that the budget papers will not be printed.

RBI raises concerns over zero-coupon bond

As these are non-interest bearing and issued at par to a bank, it would be an investment, without any return

Govt to give discount to investors under gold bond scheme

As per a statement from the Finance Ministry, for investors using the digit mode for subscription, the issue price of gold bond will be Rs 5,054 per gram of gold.

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