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News - (Get Professional Updates on Whatsapp, Msg on 8285393786) Category : Finance

India Announces New Partnership to Accelerate Financial Inclusion for Everyone
Posted Date : 02-Sep-2015 , 08:24:04 am | Posted By CASANSAAR

Government of India Joins the United Nations’ Better than Cash Alliance for Digitization of Payments to Achieve Financial Inclusion and to Share Success Stories from PMJDY,The World’s Largest Financial Inclusion Programme      The Government of India is joining the ...

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Category : Finance | Comments : 0 | Hits : 1320

Dr. Hasmukh Adhia takes over as Revenue Secretary
Posted Date : 02-Sep-2015 , 08:22:28 am | Posted By CASANSAAR

Dr. Hasmukh Adhia (IAS:GUJ (1981) took over as the Revenue Secretary, Ministry of Finance, Goverrnment of India here today. Earlier Dr. Adhia was holding the charge of Secretary, Department of Financial Services (DFS) in the same Ministry. Dr. Adhia  had also earlier worked as the Finance Secre...

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Category : Finance | Comments : 0 | Hits : 326

To print a Re 1 note, the govt has to spend Rs 1.14: RTI
Posted Date : 04-Jul-2015 , 09:31:03 am | Posted By CASANSAAR

It costs the government Rs 1.14 to print a Re 1 note, a right to information query has revealed.  Interestingly, Re 1 notes were discontinued over two decades ago for being too costly to manufacture.  "It should be asked if the retrogressive step of re-issuing the cost...

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Category : Finance | Comments : 0 | Hits : 560

Greece crisis may trigger outflows from India: Finance Secretary
Posted Date : 29-Jun-2015 , 06:50:48 pm | Posted By CASANSAAR

The economic crisis in Greece may trigger capital outflows from India and the government is consulting the RBI to deal with the situation, finance secretary Rajiv Mehrishi said on Monday. Stating that the Greece situation has no direct impact on India, he said there may be some indirect effect ...

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Category : Finance | Comments : 0 | Hits : 528

Government relaxes FDI norms for NRIs, PIOs, OCI
Posted Date : 21-May-2015 , 10:46:36 pm | Posted By CASANSAAR

Union Cabinet also decided to amend Foreign Direct Investment,FDI norms for NRIs, Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCI) to increase capital flows into the country. The amendments will lead to greater foreign exchange remittances and investment. The investment under the...

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Category : Finance | Comments : 0 | Hits : 463

Finance Ministry initiates process of hiring chairmen for PSU banks
Posted Date : 04-May-2015 , 10:26:24 pm | Posted By CASANSAAR

The Finance Ministry has initiated the process of identifying persons like retired bureaucrats and bankers who could be appointed as non-executive chairmen of various public sector banks. Vacancies for the position of non-executive chairman have arisen following the government decision to bifurca...

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Category : Finance | Comments : 0 | Hits : 331

Gist of changes made in Finance Bill 2015 as passed by the Lok Sabha
Posted Date : 01-May-2015 , 08:28:04 am | Posted By CASANSAAR

On April 30, 2015, the Lok Sabha passed the Finance Bill. The Bill which was presented originally in the Lok Sabha on February 28, 2015 is not passed in its original shape. Various changes have been made in the Bill. New amendments are proposed, some proposed amendments are removed, so on and so for...

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Category : Finance | Comments : 0 | Hits : 1925

Interest Rates for Various Small Savings Schemes wef 01-04-2015
Posted Date : 31-Mar-2015 , 08:43:59 pm | Posted By CASANSAAR

It was decided by the Government of India that interest rates on Small savings Schemes will be linked to yields on government securities of comparable maturity. In pursuance of that decision, the Government has decided to revise the rates applicable on various small savings schemes as given in the t...

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Category : Finance | Comments : 0 | Hits : 896

FinMin restricts Internet access for director-level officers
Posted Date : 19-Mar-2015 , 09:00:55 am | Posted By CASANSAAR

Amid a CBI probe into leakage of secret documents, Finance Ministry has clamped down on the use of Internet and private emails by those up to the director level in the Department of Economic Affairs (DEA), restricting the access only to official mails and government websites. "The DEA office...

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Category : Finance | Comments : 0 | Hits : 716

Parliament clears long-pending Insurance Bill
Posted Date : 12-Mar-2015 , 10:40:53 pm | Posted By CASANSAAR

Parliament on Thursday approved the NDA government's first major economic reform measure as the long-pending bill providing for raising foreign investment cap to 49 per cent in insurance was passed by Rajya Sabha after main opposition Congress and some other parties came on board. ...

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Category : Finance | Comments : 0 | Hits : 316

Dilip Shanghvi ends Mukesh Ambani's eight-year run as India's richest billionaire
Posted Date : 05-Mar-2015 , 08:15:07 pm | Posted By CASANSAAR

Dilip Shanghvi, the billionaire founder of drug maker Sun Pharma  has ended Reliance Industries promoter Mukesh Ambani's eight-year run as India's richest billionaire on Wednesday.   For the first time ever, Forbes and the Bloomberg Billionaires Index have also  ranked Shanghvi ahea...

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Category : Finance | Comments : 0 | Hits : 1318

New Investment Pattern For Non-Government Provident Funds, Superannuation Funds And Gratuity Funds With Effect From 1st April, 2015
Posted Date : 01-Mar-2015 , 08:56:58 pm | Posted By CASANSAAR

Government notifies the Investment Pattern for Non-Government Provident Funds, Superannuation Funds and Gratuity Funds. This is reviewed from time to time and revisions are effected based on the developments in the financial market and economy. The investment pattern was last revised on 14th Au...

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Category : Finance | Comments : 0 | Hits : 907

Set up of International Financial Services Centre (IFSC)
Posted Date : 01-Mar-2015 , 08:55:23 pm | Posted By CASANSAAR

An International Financial Services Centre (IFSC) is set up at Gandhinagar, Gujarat as a part of a Special Economic Zone (SEZ). To operationalise the IFSC, a Notification under the Foreign Exchange Management Act, 1999 (FEMA) shall be issued by Reserve Bank of India (RBI) in March 2015, ma...

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Category : Finance | Comments : 0 | Hits : 439

Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified
Posted Date : 21-Feb-2015 , 08:55:52 am | Posted By CASANSAAR

Indian Insurance Companies (Foreign Investment) Rules, 2015 Notified; Foreign Equity Investment Cap of 49 Per Cent Applicable to All Indian Insurance Companies; Foreign Direct Investment (FDI) Proposals up to 26 Per Cent of the Total Paid-Up Equity of the Indian Insurance Company All...

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Category : Finance | Comments : 0 | Hits : 380

Government Approves Eleven (11) Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 1075.91 Crore
Posted Date : 20-Feb-2015 , 07:41:45 am | Posted By CASANSAAR

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 4th February 2015, Government has approved Eleven (11) proposals of Foreign Direct Investment amounting to Rs. 1075.91 croreapproximately.         &nbs...

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Category : Finance | Comments : 0 | Hits : 914

New Upgraded and Secure Portal for E-Filing of Applications for Foreign Direct Investment Launched
Posted Date : 17-Feb-2015 , 09:53:22 pm | Posted By CASANSAAR

Department of Economic Affairs, Ministry of Finance launched here today a new upgraded and secure user friendly web site for filing and processing of applications for Foreign Direct Investment (FD) requiring Government approval. Presently the applications are filed online at www.fipbindia.com&n...

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Category : Finance | Comments : 0 | Hits : 397

ICAI, YES BANK and BSE declare partnership for Financial Literacy
Posted Date : 10-Feb-2015 , 08:18:16 am | Posted By CASANSAAR

Financial Literacy is a critical success factor towards achieving the Government of India’s Vision of achieving complete Financial Inclusions. Basic financial knowledge is crucial to help our citizens become financially responsible as well as secure their financial future and motivate them to ...

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Category : Finance | Comments : 0 | Hits : 939

Finance Ministry has invited suggestions from public for the Union Budget 2015-16
Posted Date : 17-Jan-2015 , 10:31:32 pm | Posted By CASANSAAR

The Finance Ministry has invited suggestions from public for the Union Budget 2015-16 to be presented next month.   In order to infuse more transparency into Budget making exercise and to have people as partners to the process of budget making, the Finance Ministry has decided to invite sugge...

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Category : Finance | Comments : 0 | Hits : 519

Census on Foreign Liabilities and Assets of Indian Companies 2013-14 - Data Release
Posted Date : 17-Jan-2015 , 10:19:21 pm | Posted By CASANSAAR

The Reserve Bank of India released, on its website, the data related to the Census on Foreign Liabilities and Assets of Indian Companies for the year 2013-14. The Annual Census on Foreign Liabilities and Assets (FLA), 2013-14 covers Indian companies which submit comprehensive information on their ov...

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Category : Finance | Comments : 0 | Hits : 389

Government Approves Twelve (12) Proposals of Foreign Direct Investment (FDI) Amounting to Approx Rs.1827.24 Cr
Posted Date : 09-Jan-2015 , 09:14:45 pm | Posted By CASANSAAR

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 19thDecember 2014, the Government of India has approved twelve (12) proposals of Foreign Direct Investment (FDI) amounting to Rs.1827.24 crore approximately.        &...

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Category : Finance | Comments : 0 | Hits : 432

NITI Aayog: PM Narendra Modi appoints 10 members
Posted Date : 05-Jan-2015 , 10:08:57 pm | Posted By CASANSAAR

Arvind Panagariya, a free-market economist who teaches at Columbia University in the US, was appointed on Monday as the first Vice Chairman of the newly-created NITI Aayog along with six members and three special invitees.   Economist Bibek Debroy and former DRDO chief V K Saraswat ...

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Category : Finance | Comments : 0 | Hits : 593

Planning Commission gets a new name in 2015: NITI Ayog
Posted Date : 02-Jan-2015 , 08:54:49 am | Posted By CASANSAAR

India's Planning Commission will be renamed "NITI Ayog" as part of a restructuring plan announced by Prime Minister Narendra Modi in his Independence Day speech. The new plan body, sources say, will have up to five full time members and four union ministers. The permanent members are expected to b...

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Category : Finance | Comments : 0 | Hits : 534

Infusion of Rs. 60 crore in IFCI Ltd. to make it a Government Company
Posted Date : 29-Dec-2014 , 09:17:20 pm | Posted By CASANSAAR

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, today approved the infusion of RS. 60 crore in Industrial Finance Corporation of India (IFCI) Ltd. to make it a Government company by way of acquisition of preference shares from existing share holder(s). Background Indus...

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Category : Finance | Comments : 0 | Hits : 439

E-Book” on “Good Governance: Ministry of Finance
Posted Date : 26-Dec-2014 , 08:13:22 am | Posted By CASANSAAR

“E-Book” on “Good Governance: Ministry of Finance” FOREWORD    The Government attaches utmost importance to the need for improving Governance and service delivery to the common man. One of the important tenets in this direction is the effective ...

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Category : Finance | Comments : 0 | Hits : 633

Deadline to exchange pre-2005 notes extended till June 30
Posted Date : 23-Dec-2014 , 09:07:20 pm | Posted By CASANSAAR

The deadline for exchanging pre-2005 currency notes of various denominations, including Rs 500 and Rs 1,000, has been extended by another six months till June, 30, 2015. "The Reserve Bank of India has stated that the public can do so till June 30, 2015. Earlier in March 2014, it had set the last da...

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Category : Finance | Comments : 0 | Hits : 568

Deadline to exchange pre-2005 currency notes ends on January 1
Posted Date : 21-Dec-2014 , 07:46:59 pm | Posted By CASANSAAR

People have only 11-days left to exchange currency notes of various denominations, including 500 and 1,000, which were printed before 2005.The deadline for exchanging the pre-2005 notes is January 1, 2015.The Reserve Bank has so far shredded 144.66 crore such notes valued at Rs 52,855 crore since th...

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Category : Finance | Comments : 0 | Hits : 1878

Govt. notifies relaxed FDI norms for construction sector
Posted Date : 03-Dec-2014 , 11:00:56 pm | Posted By CASANSAAR

To help attract foreign funds in construction of townships, hospitals and hotels, the government on Wednesday relaxed the FDI policy for this sector by easing exit norms and reducing built-up area and capital needs.   The revised norms relating to construction development sector has been noti...

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Category : Finance | Comments : 0 | Hits : 240

Government Sets-up A High Level Committee to Interact with Trade and industry on Tax Laws
Posted Date : 03-Dec-2014 , 10:54:54 pm | Posted By CASANSAAR

n his Budget Speech 2014-15, the Union Finance Minister Shri Arun Jaitley had announced the setting-up of a High Level Committee to interact with trade and industry and ascertain areas where clarity on tax laws is required.   Accordingly, a High Level Committee has been constituted with the f...

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Category : Finance | Comments : 0 | Hits : 265

Government approves fifteen (15) proposals of Foreign Direct Investment (FDI) amounting to about Rs. 689.35 Crore
Posted Date : 01-Dec-2014 , 06:41:46 pm | Posted By CASANSAAR

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on November 14, 2014, the Central Government has approved fifteen (15) proposals of Foreign Direct Investment (FDI) amounting to Rs. 689.35 crore approximately.        &...

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Category : Finance | Comments : 0 | Hits : 943

Govt transfers Financial Services Secretary G S Sandhu; Appoints Gujarat IAS officer Hasmukh Adhia in his place.
Posted Date : 03-Nov-2014 , 10:58:11 pm | Posted By CASANSAAR

In yet another secretary-level change, government today appointed Hasmukh Adhia, a 1981 Gujarat cadre IAS officer, as the new Financial Services Secretary replacing G S Sandhu. Sandhu, a 1980 Rajasthan cadre IAS officer, has been made Chairman of the National Authority for Chemical We...

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Category : Finance | Comments : 0 | Hits : 721

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