Finance Ministry

Finmin may write to Sebi for relaxing minimum public float norms for PSUs

Finmin may write to Sebi for relaxing minimum public float norms for PSUs

There are over a dozen public sector units (PSUs), including those up for strategic sale, which are yet to meet the minimum public holding norm -- the deadline for which ends in August.

Apr 09, 2018, 15:29 PM IST
Petrol, diesel should be under GST ambit, ball in Finance Ministry court: Dharmendra Pradhan

Petrol, diesel should be under GST ambit, ball in Finance Ministry court: Dharmendra Pradhan

Minister of Petroleum and Natural Gas Dharmendra Pradhan on Thursday reiterated that his ministry wants petrol and diesel to be brought under the domain of Goods and Services Tax (GST). Speaking to Zee media about petrol price reaching 4-year high and diesel touching all-time high, Pradhan blamed the increase in crude oil price.

Apr 05, 2018, 18:02 PM IST
Finance Ministry asks RBI to help ease industry troubles post-LoU ban

Finance Ministry asks RBI to help ease industry troubles post-LoU ban

FinMin has asked RBI to look into the problems being faced by industry and banks by the abrupt ban on LoUs.

Mar 29, 2018, 21:01 PM IST
7th Pay Commission: Here's what you can actually expect from April 2018

7th Pay Commission: Here's what you can actually expect from April 2018

The Modi government is planning to raise the minimum pay from Rs 18,000 to Rs 21,000 from April this year for their employees.

Mar 18, 2018, 22:12 PM IST
Massive 84% of initial GST returns filed for July-Dec don't match with final returns

Massive 84% of initial GST returns filed for July-Dec don't match with final returns

The revenue department has analysed the GST returns data filed by over 51.96 lakh businesses during July-December, 2017.

Mar 18, 2018, 19:51 PM IST
PNB fraud: RBI initiates audit of PSBs with focus on trade finance, LoUs

PNB fraud: RBI initiates audit of PSBs with focus on trade finance, LoUs

Most of the big banking frauds which were unearthed in the recent past, including the one perpetuated by diamantaire Nirav Modi and his associates, pertain to trade finance.

Mar 11, 2018, 18:06 PM IST
Properties linked to terrorist Hafiz Saeed's JuD, charity seized in PoK, Pakistan's Punjab

Properties linked to terrorist Hafiz Saeed's JuD, charity seized in PoK, Pakistan's Punjab

Action against Hafiz Saeed's JuD, FIF was taken at the behest of Pakistan's Finance Ministry.

Mar 09, 2018, 22:44 PM IST
Finance Ministry directs banks to collect passport details of big borrowers in 45 days

Finance Ministry directs banks to collect passport details of big borrowers in 45 days

In case the borrower does not have a passport, the bank should obtain a certificate in the form of declaration that the person does not have the passport, sources said quoting the Finance Ministry's advisory to banks.

Mar 07, 2018, 06:52 AM IST
Modi govt sets up panel on financial technology to make regulations more flexible

Modi govt sets up panel on financial technology to make regulations more flexible

The Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs.

Mar 05, 2018, 15:42 PM IST
GST collection dips marginally in January to Rs 86,318 crore

GST collection dips marginally in January to Rs 86,318 crore

FinMin said that 1.03 crore taxpayers have been registered under GST till Feb 25, of which 17.65 lakh are composition dealers who are required to file returns every quarter.

Feb 27, 2018, 18:17 PM IST
Crackdown on black money? Finance Ministry releases list of 9,491 'high risk' NBFCs, details inside

Crackdown on black money? Finance Ministry releases list of 9,491 'high risk' NBFCs, details inside

Many of these NBFCs were found converting banned currency notes after demonetisation by receiving cash as deposits and issuing back-dated FDs and cheques.

Feb 26, 2018, 17:51 PM IST
Finance Ministry must've known about it: Congress lashes out at Arun Jaitley's comment on regulators

Finance Ministry must've known about it: Congress lashes out at Arun Jaitley's comment on regulators

Hours after Finance Minister Arun Jaitley slammed regulators for failing to detect the Rs 11,400-crore fraud at Punjab National Bank for seven long years, Congress accused the Centre of being aware of all details. 

Feb 24, 2018, 14:45 PM IST
Finance Ministry writes to Hong Kong banks over PNB LOUs

Finance Ministry writes to Hong Kong banks over PNB LOUs

The development comes over the PNB fraud case worth over Rs. 11,000 crore, which was allegedly committed by famous jeweller Nirav Modi.

Feb 23, 2018, 13:25 PM IST
7th Pay Commission: Good news for central govt employees, new pay hike from April

7th Pay Commission: Good news for central govt employees, new pay hike from April

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

Feb 22, 2018, 20:32 PM IST
Explain how scam took place, CVC asks PNB, Finance Ministry; PIL in SC for SIT probe

Explain how scam took place, CVC asks PNB, Finance Ministry; PIL in SC for SIT probe

The CVC has asked the PNB and the Finance Ministry to explain how several lapses leading to the loss of Rs 11,400 crore took place.

Feb 19, 2018, 17:17 PM IST
Parliamentary panel seeks report from FinMin over PNB fraud

Parliamentary panel seeks report from FinMin over PNB fraud

The state lender has suspended 10 officers and referred the matter to CBI for investigation.

Feb 15, 2018, 20:30 PM IST
Will not spare anyone found guilty in $1.8 billion scam, says PNB chief

Will not spare anyone found guilty in $1.8 billion scam, says PNB chief

ED on Thursday launched a nationwide raid on the offices, showrooms and workshops of billionaire diamond trader Nirav Modi.

Feb 15, 2018, 15:59 PM IST
PNB fraud: Finance Ministry asks all banks to present status report as soon as possible

PNB fraud: Finance Ministry asks all banks to present status report as soon as possible

This could be the biggest banking fraud in India as its quantum was bigger than an estimated 9,000 crore scam at erstwhile Satyam computers.

Feb 15, 2018, 09:08 AM IST
100,000 Bitcoin investors get notices from Income Tax Department

100,000 Bitcoin investors get notices from Income Tax Department

The Taxman sent notices to those people, who have invested in cryptocurrencies like Bitcoin without declaring these in their income tax returns,

Feb 06, 2018, 19:01 PM IST
Budget 2018: Excise duty cut to have no impact on petrol, diesel prices, says Govt

Budget 2018: Excise duty cut to have no impact on petrol, diesel prices, says Govt

Finance Secretary Hasmukh Adhia on  Thursday said that excise duty cut of Rs 2 will practically have no impact on petrol and diesel prices.

Feb 01, 2018, 16:38 PM IST