Cabinet approves Terms of Reference for the Sixteenth Finance Commission
Posted Date : 30-Nov-2023 , 07:39:23 am | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi has approved the Terms of Reference for the Sixteenth Finance Commission.
The Terms of Reference for the Sixteenth Finance Commission will be notified in due course of time. The 16th Finance Commission’s recommendations, ...
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Finance Act, 2023 – Assented by President
Posted Date : 01-Apr-2023 , 07:59:01 am | Posted By CASANSAAR
Finance Act, 2023 received the assent of the President on the 31st March, 2023.
Finance Bill, 2023 receives President's assent on Mar 31, 2023 and now its Finance Act, 2023.
The Finance Act, 2023 has been enacted vide Gazette Notification dated today, March-31-2023.
After obtainin...
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FinMin asks banks to explore fintech partnership, co-lending opportunities
Posted Date : 27-Jun-2022 , 08:33:00 am | Posted By CASANSAAR
The Finance Ministry has asked public sector banks to explore fintech partnerships and co-lending opportunities to expand their business.
In the recently concluded performance review of PSBs by the Finance Ministry, sources said, lenders were asked to foc...
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ED attaches assets worth Rs 2.14 Cr of entry operators in PMLA Case
Posted Date : 10-Jun-2022 , 10:56:17 am | Posted By CASANSAAR
The Enforcement Directorate (ED) on Thursday said it has provisionally attached various immovable and movable properties worth Rs 2.14 crore of entry operators working for Shakti Bhog Foods Limited and their Chartered Accountants, in connection with a money laundering case pert...
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GST Council's Recommendation Not Binding On Union, States - Supreme Court
Posted Date : 20-May-2022 , 08:26:16 am | Posted By CASANSAAR
In a significant verdict, the Supreme Court Thursday ruled that the recommendations of Goods and Services Tax (GST) Council are not binding on the Union and the states and only have a persuasive value.
The Supreme Court said that Parliament and state legi...
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FM raps CBDT and CBIC for not addressing tax assessees grievances
Posted Date : 08-Mar-2022 , 09:16:12 am | Posted By CASANSAAR
Union Finance Minister Nirmala Sitharaman on Monday came down heavily on the tax boards for allegedly not responding to grievances of the tax assessees and directed their officials to reserve Saturdays to hold meetings with them.
During the Budget Outreach Programme between Finance Ministry off...
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Sovereign Gold Bond Scheme 2021-22– Issue price Series-X
Posted Date : 26-Feb-2022 , 09:43:04 am | Posted By CASANSAAR
In terms of Government of India Notification No.4(5)-B(W&M)/2021 dated October 21, 2021, Sovereign Gold Bonds 2021-22 (Series X) will be opened for subscription during the period February 28- March 04, 2022 with Settlement date March 08, 2022. The issue price of the Bond during the subscription ...
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FM announces Rs 6 lakh Cr asset monetisation pipeline
Posted Date : 24-Aug-2021 , 08:42:32 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Monday announced a Rs 6 lakh crore National Monetisation Pipeline (NMP) that will look to unlock value in infrastructure assets across sectors ranging from power to road and railways.
She also said the asset monetisation does not involve selling of land and ...
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Cabinet approves continuation of Fast Track Special Courts
Posted Date : 05-Aug-2021 , 08:23:36 am | Posted By CASANSAAR
The Cabinet on Wednesday approved continuation of Centrally Sponsored Scheme for Fast Track Special Courts for further two years till 31st March 2023. Briefing media Information and Broadcasting Minister Anurag Singh Thakur said, 1,023 Fast Track Special Courts have been given get two-year extension...
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Centre announces stimulus package worth over Rs 6,28,993 Cr to boost economy
Posted Date : 29-Jun-2021 , 08:29:02 am | Posted By CASANSAAR
The Union Government has announced stimulus package of six lakh 28 thousand 993 crore rupees to boost economy during the fight against COVID-19 pandemic. Finance Minister Nirmala Sitharaman announced several economic relief measures amid COVID pandemic including eight economic relief measures, of wh...
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Cabinet approves Amendments to the Finance Bill, 2021
Posted Date : 20-Apr-2021 , 06:41:33 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi gives ex-post facto approval for the Government amendments to the Finance Bill, 2021 (enacted on 28th March, 2021 as the Finance Act, 2021).
The amendments were essential to clarify and rationalise the proposals furthe...
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Interest rates cut order on small savings scheme withdrawn - Finance Minister
Posted Date : 01-Apr-2021 , 09:19:02 am | Posted By CASANSAAR
Steep cuts on interest rates on small savings schemes, announced last evening, were rolled back by the government today with Finance Minister Nirmala Sitharaman declaring that "orders issued by oversight" would be withdrawn. The cuts in schemes ranging from the National Savings Certificate...
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Extension of Emergency Credit Line Guarantee Scheme through ECLGS 2.0 for the 26 sectors
Posted Date : 26-Nov-2020 , 09:39:10 pm | Posted By CASANSAAR
The Government has extended Emergency Credit Line Guarantee Scheme ( ECLGS) through ECLGS 2.0 for the 26 sectors identified by the Kamath Committee and the healthcare sector. Under ECLGS 2.0 entities with outstanding credit above Rs. 50 crore and not exceeding Rs. 500 crore as on 29.2...
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Finance Minister announces measures on AatmaNirbhar Bharat 3.0
Posted Date : 13-Nov-2020 , 08:40:42 am | Posted By CASANSAAR
Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman has announced 12 key measures, as part of Government of India’s stimulus to the economy, under AatmaNirbhar Bharat 3.0. The net stimulus announced today amounts to ₹ 2.65 Lakh crore. While addressing the...
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Sovereign Gold Bond Scheme 2020-21 (Series VIII) – Issue Price
Posted Date : 07-Nov-2020 , 09:49:24 am | Posted By CASANSAAR
In terms of Government of India Notification No.4(4)-B(W&M)/2020 dated October 09, 2020, Sovereign Gold Bonds 2020-21 (Series VIII) will be opened for the period November 09-13, 2020 with Settlement date November 18, 2020. The issue price of the Bond during the subscription period shall be Rs 5,...
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WhatsApp starts payment service in India
Posted Date : 07-Nov-2020 , 09:48:16 am | Posted By CASANSAAR
WhatsApp on Friday said it is rolling out its payments services in India after receiving nod from the National Payments Corporation of India (NPCI).
In 2018, the Facebook-owned company had started testing its UPI-based payments service in India, which allows users to utilise the messaging platfor...
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GIFT IFSC prescribes framework for listing of Depository Receipts
Posted Date : 29-Oct-2020 , 09:04:51 am | Posted By CASANSAAR
The International Financial Services Centres Authority (IFSCA), with an objective to develop the financial products and financial services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) has prescribed the regulatory framework for listing of Deposito...
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FM Nirmala Sitharaman inaugurates NIP Online Dashboard
Posted Date : 11-Aug-2020 , 10:35:22 am | Posted By CASANSAAR
Finance and Corporate Affairs Minister Nirmala Sitharaman inaugurated the National Infrastructure Pipeline, NIP, Online Dashboard in New Delhi today through video conferencing.
The online dashboard is envisaged as a one stop solution for all stakeholders looking for information on infrastru...
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PM launches Rs 1 lakh Cr financing facility under Agri-Infra Fund
Posted Date : 10-Aug-2020 , 10:29:35 am | Posted By CASANSAAR
Asserting that the government's agri-reforms are focused on empowering small farmers, Prime Minister Narendra Modi on Sunday launched a financing facility of Rs 1 lakh crore under the Agri-Infra Fund that will help create post harvest infrastructure in villages and generate jobs.
He also said...
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Aatma Nirbhar Bharat Package – Progress So Far
Posted Date : 13-Jul-2020 , 09:26:07 am | Posted By CASANSAAR
Hon’ble Prime Minister Shri Narendra Modi on May 12th, 2020, announced the Special economic and comprehensive package of Rs. 20 lakh crores - equivalent to 10% of India’s GDP – to fight COVID-19 pandemic in India. He gave a clarion call for Aatma Nirbhar Bharat or Self-Reliant Indi...
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No coercive action against pvt firms for non-payment of full wages during lockdown - SC
Posted Date : 13-Jun-2020 , 08:37:32 am | Posted By CASANSAAR
The Supreme Court on Friday directed the Centre and states not to take any coercive action till July end against private companies, which have failed to pay full wages to their employees during the coronavirus-induced lockdown period.
A bench of Justices Ashok Bhushan, Sanjay Kishan Kaul and M R ...
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SC seeks finance ministry's reply on waiver of interest on loans during moratorium period
Posted Date : 05-Jun-2020 , 08:55:07 am | Posted By CASANSAAR
The Supreme Court Thursday sought finance ministry's reply on waiver of interest on loans during the moratorium period after the RBI said it would not be prudent to go for a forced waiver of interest risking financial viability of the banks.
The top court said there are two aspects unde...
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Extend loan automatically to all eligible borrowers without fear of 3Cs - FM
Posted Date : 24-May-2020 , 08:23:34 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Saturday said banks have been asked to extend loans automatically to eligible borrowers without fear of 3Cs -- CBI, CVC and CAG.
She said clear instructions have been given in a meeting with CEOs and MDs of public sector banks and financial institutions on F...
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Cabinet approves additional funding of up to Rs. 3 Lakh Cr through introduction of ECLGS
Posted Date : 21-May-2020 , 10:18:46 am | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given the following approvals:
To enable additional funding of up to Rs. three lakh crore to eligible MSMEs and interested MUDRA borrowers by way of "Emergency Credit Line Guarantee Scheme."
Under the Sch...
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Cabinet approves Special Liquidity Scheme for NBFCs/HFCs to address their Liquidity Stress
Posted Date : 21-May-2020 , 09:30:55 am | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to the proposal of the Ministry of Finance to launch a new Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) to improve liquidity po...
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SC notice to Centre, RBI for clarity on moratorium
Posted Date : 16-May-2020 , 08:09:49 am | Posted By CASANSAAR
The Supreme Court on Friday issued notices to the Union government and Reserve Bank of India (RBI) in a plea by an association of property developers seeking clarification on the central bank’s circular allowing a three-month moratorium on loan repayments.
The apex court has sought a respon...
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Govt circulates draft details of loan scheme for MSMEs
Posted Date : 15-May-2020 , 08:36:53 am | Posted By CASANSAAR
The draft circular sent by the finance ministry to banks, detailing the implementation of collateral-free automatic loans for businesses, including micro, small and medium enterprises (MSMEs), says banks can charge up to 9.25% interest, said a senior banker, requesting anonymity. The scheme was part...
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FM announce measures for relief and credit support related to businesses
Posted Date : 14-May-2020 , 10:39:16 am | Posted By CASANSAAR
Hon’ble Prime Minister Shri Narendra Modi yesterday announced a Special economic and comprehensive package of Rs 20 lakh crores - equivalent to 10% of India’s GDP. He gave a clarion call for आतà¥à¤®à¤¨à¤¿à¤°à¥à¤à¤° à¤à¤¾à¤°à¤¤&...
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Fin Min extends deadline for mandatory minimum deposit in PPF, Sukanya Samriddhi Account till June 30
Posted Date : 12-Apr-2020 , 09:37:56 am | Posted By CASANSAAR
Finance Ministry has extended the deadline for mandatory minimum deposit in Public Provident Fund (PPF) and Sukanya Samriddhi Account (SSA) for 2019-20 by three months up to June 30 in view of the lockdown due to coronavirus outbreak.
The Finance Ministry in a tweet said that relaxation wil...
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Govt to issue all pending tax refunds upto Rs 5 lakh immediately
Posted Date : 09-Apr-2020 , 08:51:40 am | Posted By CASANSAAR
Government has decided to issue all the pending income-tax refunds up to five lakh rupees immediately. This will benefit around 14 lakh taxpayers.
It has also been decided to release all pending GST and Custom refunds which will provide benefit to around one lakh business entities, including MSME...
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