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Interest rates cut order on small savings scheme withdrawn - Finance Minister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by the government today with Finance Minister Nirmala Sitharaman declaring that "orders issued by oversight" would be withdrawn.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 Pre...
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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 आत्मनिर्भर भारत अभियान or Self-Relian...
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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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FinMin extends Motor, Health Insurance validity till April 21
Posted Date : 03-Apr-2020 , 08:36:02 am | Posted By CASANSAAR
In a major relief for 23 crore individual vehicle owners and 40 crore citizens, who benefit from a private or state health insurance scheme, the ministry of finance has amended the law and extended validity of insurance papers till April 21, 2020.
In a gazette notification, the ministry of financ...
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Finance Act 2020 | Finance Bill 2020 gets Presidential assent
Posted Date : 28-Mar-2020 , 08:39:51 am | Posted By CASANSAAR
Finance Act, 2020
The Finance Bill, 2020, after being passed by Lok Sabha & Rajya Sabha respectively; has received the assent of the President of India on 27th March, 2020.
With this, Finance Bill, 2020 has now become Finance Act, 2020.
CLICK HERE TO DOWNLOA FINANCE ACT, 2020
...
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Finance Minister announces Rs 1.70 Lakh Cr relief package
Posted Date : 27-Mar-2020 , 10:24:59 am | Posted By CASANSAAR
Insurance cover of Rs 50 Lakh per health worker fighting COVID-19 to be provided under Insurance Scheme
80 crore poor people will to get 5 kg wheat or rice and 1 kg of preferred pulses for free every month for the next three months
20 crore women Jan Dhan account holders to get Rs 500 per mon...
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FM announces several relief measures relating to Statutory and Regulatory compliance matters across sectors
Posted Date : 24-Mar-2020 , 10:19:20 pm | Posted By CASANSAAR
The Union Finance & Corporate Affairs Minister Smt. Niramla Sitharaman today announced several important relief measures taken by the Government of India in view of COVID-19 outbreak, especially on statutory and regulatory compliance matters related to several sectors. While addressing the press...
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Rajya Sabha also passes the Finance Bill 2020
Posted Date : 23-Mar-2020 , 07:07:17 pm | Posted By CASANSAAR
Rajya Sabha also passed the Finance Bill 2020.
Rajya Sabha adjourned sine die over #covid19 pandemic
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Lok Sabha passes Finance Bill 2020 without discussion
Posted Date : 23-Mar-2020 , 04:50:51 pm | Posted By CASANSAAR
Lok Sabha passed the Finance Bill 2020 without discussion on Monday.
The Union government said it was an "extraordinary situation", a reference to the coronavirus pandemic, as Finance Minister Nirmala Sitharaman tabled the bill for passage.
The House negated amendments moved by Oppos...
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Ajay Bhushan Pandey appointed as the new Finance Secretary
Posted Date : 04-Mar-2020 , 08:15:58 am | Posted By CASANSAAR
Government of India appointed the current Revenue Secretary Ajay Bhushan Pandey as the new Finance Secretary.
Pandey replaces current Finance Secretary Rajiv Kumar.
The Appointments Committee of the Cabinet has approved the appointment.
Pandey, a 1984 batch Indian Administrative Service off...
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FinMin notifies common application form for FPI registration
Posted Date : 13-Feb-2020 , 10:15:34 pm | Posted By CASANSAAR
The finance ministry has notified a common application form for registration of foreign portfolio investors in a bid to enhance operational flexibility and ease of access to the Indian capital market.
Last week, markets regulator Securities and Exchange Board of India (Sebi) had come out with a c...
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Rs 70,000 crore loan amount has been disbursed till Jan 13 under MSMEs scheme: Govt
Posted Date : 20-Jan-2020 , 02:25:48 pm | Posted By CASANSAAR
The Finance Ministry has said that a loan amount of nearly seventy thousand crore rupees has been disbursed till 13th of this month under the scheme of providing loan to Micro Small and Medium Enterprises - MSMEs within 59 minutes.
The Ministry tweeted that out of the 2.73 lakh applications recei...
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Govt will act as facilitator for all stakeholders in achieving target of 5 trillion dollar economy: FM
Posted Date : 20-Jan-2020 , 09:59:15 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman has said that the government will act as a facilitator for all stakeholders in achieving the target of five trillion dollar economy. Delivering the Nani Palkhivala Centenary lecture in Chennai, she said the target of India becoming a five trillion-dollar economy i...
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