Finance Ministry sets up Public Debt Management Cell
Posted Date : 06-Oct-2016 , 11:07:27 pm | Posted By CASANSAAR
The Union Finance Ministry has set up a Public Debt Management Cell (PDMC) to streamline government borrowings and better cash management with the overall objective of deepening bond markets. The PDMC, to be housed at RBI's Delhi office, is an interim arrangement and will be upgraded to a statut...
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Cabinet approves foreign investment in other Financial Services sector
Posted Date : 10-Aug-2016 , 08:39:48 pm | Posted By CASANSAAR
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to amend regulation for foreign investment in the Non- Banking Finance Companies (NBFCs).
The amendment in the existing Foreign Exchange Management (Transfer or Issue of Security by the Person Resident...
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Cabinet approves recommendations of 7th Pay Commission
Posted Date : 29-Jun-2016 , 09:11:53 pm | Posted By CASANSAAR
Union Cabinet has approved the recommendations of the 7th Pay Commission. Briefing media in New Delhi this evening, Finance Minister Arun Jaitley said the recommendations will be implemented from 1st January 2016 and arrears will paid this year itself.
He said the Pay Commission covers 47 lakh go...
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Govt notifies changes in FDI policy
Posted Date : 24-Jun-2016 , 10:09:42 pm | Posted By CASANSAAR
The government on Friday notified changes in the foreign direct investment (FDI) policy in sectors including pharmaceuticals, defense and single-brand retail.
These decisions were announced earlier in the week with a view to make India more investor friendly and an attractive FDI destinatio...
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Establishment of Fund of Funds for funding support to Start-ups
Posted Date : 22-Jun-2016 , 10:05:04 pm | Posted By CASANSAAR
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has approved the establishment of "Fund of Funds for Startups" (FFS) at Small Industries Development Bank of India (SIDBI) for contribution to various Alternative Investment Funds (AIF), registered with Securities and Exc...
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Finmin to review domestic black money window
Posted Date : 21-Jun-2016 , 10:52:08 pm | Posted By CASANSAAR
With the first month nearing completion, the Finance Ministry will hold a high-level meeting to review the ambitious one-time compliance window that has been announced by the government to declare domestic black money.
The review meeting, scheduled later this week, will be chaired by Revenu...
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Quarterly Revision of Interest Rates for Small Savings Schemes
Posted Date : 20-Jun-2016 , 10:17:14 pm | Posted By CASANSAAR
On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest compounding/payment built...
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NRIs can now join NPS online through eNPS: Finance Ministry
Posted Date : 19-Jun-2016 , 01:34:50 pm | Posted By CASANSAAR
Government today said non resident indians (NRIs) can now open National Pension Savings (NPS) accounts online if they have Aadhaar Card or PAN card. Till now, NRIs could open NPS accounts only through paper applications by approaching Bank offices.
In a statement, Finance Ministry said thro...
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Finance Bill, 2016 assented by President
Posted Date : 15-May-2016 , 09:17:52 am | Posted By CASANSAAR
Honorable President of India Shri. Pranab Mukherjee has on 14th May 2016 assented The Finance Bill, 2016 .
The Finance Bill was presented in the Lok Sabha on February 29, 2016. On May 05, 2016 it was passed by the Lok Sabha and later on it was approved by the Rajya Sabha on ...
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Rajya Sabha sets record, passes 5 bills in few hours
Posted Date : 12-May-2016 , 05:47:46 am | Posted By CASANSAAR
In a record of sorts, five bills were passed in the Rajya Sabha , which has been under attack for delaying in the passage of key legislation.
The bills, including some key finance legislation, were passed during the course of a few hours in the post-lunch period.
The Upper House is likely ...
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Centre may appoint independent regulators for professional services
Posted Date : 05-May-2016 , 08:38:35 am | Posted By CASANSAAR
The government is planning to appoint independent regulators for services such as medicine, law, chartered accountancy, cost accountancy and company secretaryship.
According to sources in the commerce ministry, the existing structure of a regulator-cum-professional body for these serv...
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Highlights of Recommendations of Seventh Central Pay Commission
Posted Date : 20-Nov-2015 , 08:09:47 am | Posted By CASANSAAR
Recommended Date of implementation: 01.01.2016
Minimum Pay: Based on the Aykroyd formula, the minimum pay in government is recommended to be set at ₹18,000 per month.
Maximum Pay: ₹2,25,000 per month for Apex Scale and ₹2,50,000 per month for Cabinet Secretary and others presently a...
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National Investment Infrastructure Fund gets Governing Council
Posted Date : 13-Nov-2015 , 10:04:00 pm | Posted By CASANSAAR
A Governing Council headed by Finance Minister Arun Jaitley will oversee the activities of the National Investment and Infrastructure Fund (NIIF), authorities said on Friday.
The union cabinet had in July approved the creation of the NIIF with a corpus of Rs.20,000 crore for developme...
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PM to Launch Gold Related Schemes on 5th November, 2015
Posted Date : 04-Nov-2015 , 08:44:07 am | Posted By CASANSAAR
The Prime Minister Shri Narendra Modi will launch the four mega Gold related Schemes i.e. Gold Monetisation Scheme (GMS), Gold Sovereign Bond Scheme, Gold Coin Scheme and the Gold Bullion Scheme on Thursday, 5th November, 2015 in the national capital.
The salient features of each of the afor...
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ED, RBI asked to probe FDI norm violation by e-tailers
Posted Date : 02-Nov-2015 , 09:14:53 am | Posted By CASANSAAR
The Union Commerce Ministry has reportedly requested the Enforcement Directorate (ED) and the Reserve Bank of India (RBI) to examine whether e-commerce firms like Flipkart, Amazon and Snapdeal have violated foreign direct investment (FDI) rules by engaging in business-to-consumers (B2C) activity.
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Govt To Issue Sovereign Gold Bonds On Nov 5; Offers 2.75 % Interest
Posted Date : 30-Oct-2015 , 10:48:02 pm | Posted By CASANSAAR
The Sovereign Gold Bonds will offer an interest rate of 2.75 per cent and will remain open for public subscription between November 5-20, Finance Ministry said on Friday.
Aimed at providing an alternative to buying physical gold, the gold bond scheme will offer investors a choice to buy bonds w...
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Finance Ministry Reviews Progress made after Public Sector Banks’ Reform Plan Indradhanush
Posted Date : 22-Oct-2015 , 08:44:29 am | Posted By CASANSAAR
The Indradhanush package was announced on 14th August, 2015 for transforming Public Sector Banks (PSBs) through a bottoms-up approach. It represents the most comprehensive reform effort undertaken since banking nationalisation in 1970. The framework mainly comprised of appointments, B...
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Arun Jaitley chosen 'Finance Minister of the Year, Asia' by Emerging Markets
Posted Date : 15-Oct-2015 , 07:55:14 am | Posted By CASANSAAR
Finance Minister Arun Jaitley has been chosen as Finance Minister of the Year, Asia by London-based publication Emerging Markets.
In an article the magazine said that Mr Jaitley too deserves some recognition for India's relative economic success over the last 18 months.
The Mag...
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Finance Minister to Leave Tonight on a Four Day Official Visit to Singapore and Hong Kong
Posted Date : 17-Sep-2015 , 09:22:13 pm | Posted By CASANSAAR
Finance Minister to Leave Tonight on a Four Day Official Visit to Singapore and Hong Kong; During First Leg of his Visit to Singapore, FM will Address the Singapore Summit;
To Attend Meetings with Prominent Investors and Fund Managers Including Meetings with Temasek and GIC, ...
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Ms Anjuly Chib Duggal Takes Over as Secretary, Department of Financial Services(DFS), Ministry of Finance
Posted Date : 02-Sep-2015 , 08:27:39 am | Posted By CASANSAAR
Ms Anjuly Chib Duggal, IAS (PB:1981) took over as Secretary, Department of Financial Services, Ministry of Finance, Government of India here yesterday afternoon. She succeeded Dr. Hasmukh Adhia, IAS (GJ:1981) who, in turn, has taken over as Revenue Secretary in the same Ministry.
Before tak...
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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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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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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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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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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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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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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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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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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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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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