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

Cabinet extends 15th Finance Commission's term up to Nov 30
Posted Date : 18-Jul-2019 , 09:13:42 am | Posted By CASANSAAR

Cabinet has approved the extension of the term of Fifteenth Finance Commission up to 30th November this year. It will enable the Commission to examine various comparable estimates for financial projections in view of reforms and the new realities to finalise its recommendations for the period 2020-2...

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Category : Finance | Comments : 0 | Hits : 60

Allahabad Bank reports Rs 1,775 Cr fraud by Bhushan Power & Steel
Posted Date : 15-Jul-2019 , 08:21:55 am | Posted By CASANSAAR

Kolkata-headquartered state owned lender, Allahabad Bank, has reported a fraud of Rs 1774.82 crore by Bhushan Power & Steel to the Reserve Bank of India (RBI). In a stock market notification, on July 13, the bank has alleged misappropriation of funds and manipulation in the books of accounts ...

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Category : Finance | Comments : 0 | Hits : 485

Cabinet approves the Banning of Unregulated Deposit Schemes Bill, 2019
Posted Date : 11-Jul-2019 , 09:43:02 am | Posted By CASANSAAR

  The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the banning of Unregulated Deposit Schemes Bill, 2019.  It will replace the banning of Unregulated Deposit Schemes Ordinance, 2019. The banning of Unregulated Deposit Schemes Bill, 2019 will rep...

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Category : Finance | Comments : 0 | Hits : 430

Finance Minister Nirmala Sitharaman to present Union Budget tomorrow
Posted Date : 04-Jul-2019 , 03:00:14 pm | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman will present the Union budget in the Lok Sabha tomorrow. This will be the first budget of the Narendra Modi government after assuming office for the second time. People from all walks of life have their expectations from the budget In Telangana, Prasanna Tantri, ...

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Category : Finance | Comments : 0 | Hits : 156

Key Highlights of Economic Survey 2018-19
Posted Date : 04-Jul-2019 , 02:40:56 pm | Posted By CASANSAAR

The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman tabled the Economic Survey 2018-19 in the Parliament today. The Key Highlights of Economic Survey 2018-19 are as follows: Shifting gears: Private Investment as the Key Driver of Growth, Jobs, Exports and Demand Surve...

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Category : Finance | Comments : 0 | Hits : 237

Smt. Nirmala Sitharaman takes charge as the Union Minister of Finance & Corporate Affairs
Posted Date : 01-Jun-2019 , 07:38:00 am | Posted By CASANSAAR

Smt. Nirmala Sitharaman assumed charge as the Union Minister of Finance & Corporate Affairs here today.  She was greeted at the office in North Block by Minister of State for Finance & Corporate Affairs designate, Shri Anurag Singh Thakur, Finance Secretary Shri Subhash Chandra Garg and...

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Category : Finance | Comments : 0 | Hits : 327

Shri Anurag Thakur takes charge as Minister of State for Finance & Corporate Affairs
Posted Date : 01-Jun-2019 , 07:36:13 am | Posted By CASANSAAR

Shri Anurag Singh Thakur assumed charge of office as the Union Minister of State (MoS) for Finance & Corporate Affairs here today.  Shri Thakur took the charge in the august presence of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman. Shri Thakur was greeted in...

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Category : Finance | Comments : 0 | Hits : 181

Nirmala Sitharaman India's first woman FM
Posted Date : 01-Jun-2019 , 07:33:55 am | Posted By CASANSAAR

 Nirmala Sitharaman Friday broke the glass ceiling again as she became the first full-time woman Finance Minister, who will present Modi 2.0 government's maiden Budget that should look to take out the country from slowing growth, create jobs, attract investments and tackle banking sector wo...

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Category : Finance | Comments : 0 | Hits : 164

Justice PC Ghose set to be named India's 1st Lokpal
Posted Date : 18-Mar-2019 , 08:14:58 am | Posted By CASANSAAR

Almost 50 years after the Lok Sabha first passed a Lokpal bill and more than five years after a popular anti-corruption movement led to the passage of the legislation in its latest form, retired Supreme Court judge Justice Pinaki Chandra Ghose is set to be India's first anti-corruption ombudsman...

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Category : Finance | Comments : 0 | Hits : 404

Govt to soon start selection process for new PFRDA Chairman
Posted Date : 18-Mar-2019 , 08:11:20 am | Posted By CASANSAAR

The government will soon start selection process for a new chairman of pension fund regulator PFRDA to succeed the present chief, Hemant G Contractor, whose term is slated to end in April. "The Finance Ministry will soon come out with an advertisement to find a successor to head the Pension Fun...

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Category : Finance | Comments : 0 | Hits : 359

Government passes ordinance to ban unregulated deposit
Posted Date : 22-Feb-2019 , 09:36:03 pm | Posted By CASANSAAR

In a bid to save credulous investors from ponzi schemes, the Central government has banned unregulated deposit schemes, a move that may help tackling the menace of illicit deposit-taking activities. Pursuant to this ordinance now any Individual or group of individuals cannot take any deposit or l...

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Category : Finance | Comments : 0 | Hits : 881

Arun Jaitley resumes charge of Finance Ministry
Posted Date : 15-Feb-2019 , 02:54:51 pm | Posted By CASANSAAR

Union Minister Arun Jaitley on Friday resumed charge as finance minister after his return from the US last Saturday. “The President of India, as advised by the Prime Minister, has directed to assign the portfolios of the Minister of Finance and Minister of Corporate Affairs to Shri Arun Jai...

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Category : Finance | Comments : 0 | Hits : 130

Cabinet approves abolition of Ombudsman for Direct, Indirect taxes
Posted Date : 07-Feb-2019 , 10:02:19 am | Posted By CASANSAAR

The Union Cabinet on Wednesday decided to abolish institutions of Ombudsman for income tax and indirect tax.  The approval comes against the backdrop of people preferring online grievance redressal mechanism.  The institution of Income-Tax Ombudsman was set up in 2003 to deal with gr...

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Category : Finance | Comments : 0 | Hits : 250

Government reviews guidelines for FDI in E- commerce
Posted Date : 27-Dec-2018 , 10:36:02 am | Posted By CASANSAAR

Government has reviewed guidelines for Foreign Direct Investment in E- commerce companies to protect the interests of domestic players. It has taken host of steps and barred e-commerce companies from selling products of the companies in which they have stake. In a statement, the Commerce and Industr...

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Category : Finance | Comments : 0 | Hits : 589

Dr. Ajay Bhushan Pandey takes over as Revenue Secretary
Posted Date : 01-Dec-2018 , 06:57:47 am | Posted By CASANSAAR

Dr. Ajay Bhushan Pandey (IAS: MH 1984) took over as the Union Revenue Secretary upon superannuation of Dr Hasmukh Adhia here today. Outgoing Finance Secretary & Revenue Secretary, Dr Hasmukh Adhia welcomed Dr Pandey in his office. A Maharashtra cadre officer, Dr. Pandey will continue to head the...

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Category : Finance | Comments : 0 | Hits : 266

Finance Secretary Hasmukh Adhia to retire on november 30
Posted Date : 17-Nov-2018 , 10:44:29 pm | Posted By CASANSAAR

Finance Secretary Hasmukh Adhia will retire on November 30, Finance Minister Arun Jaitley said on Saturday. "Hasmukh Adhia, the Finance Secretary, retires at the end of this month. He has been in the Finance Ministry for four years and held the specific responsibility of the Revenue Secretary ...

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Category : Finance | Comments : 0 | Hits : 334

Commerce Minister releases National Strategy for Standardization
Posted Date : 20-Jun-2018 , 11:05:40 am | Posted By CASANSAAR

India’s quest for providing best quality begins with identifying standards, stated Suresh Prabhu, Minister of Commerce and Industry. He was speaking at the 5th National Standards Conclave - Implementing the Indian National Strategy for Standardization, being held in New Delhi on 19-20 June 201...

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Category : Finance | Comments : 0 | Hits : 467

Govt opens 10 joint-secretary level posts for private sector professionals
Posted Date : 11-Jun-2018 , 08:21:19 am | Posted By CASANSAAR

If you are a private sector professional above 40 years of age and with 15 years of work experience in any of the ten fields like economic affairs, civil aviation or commerce, the Narendra Modi government may hire you as a joint secretary. This “lateral entry” exercise is aimed at &ldquo...

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Category : Finance | Comments : 0 | Hits : 853

Rate of Exchange of different Foreign Currencies to Indian Currency notified
Posted Date : 08-Jun-2018 , 12:39:40 am | Posted By CASANSAAR

In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification of the Central Board of Indirect Taxes and Customs(CBIC) No.43/2018-CUSTOMS (N.T.), dated 17thMay, 2018 except as respects things done or omitted to be done before such ...

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Category : Finance | Comments : 0 | Hits : 457

FinMin ties up with e-commerce firms to give loans under PMMY
Posted Date : 24-May-2018 , 08:54:46 am | Posted By CASANSAAR

The finance ministry has joined hands with over two dozen e-commerce firms, including major players like Amazon, Flipkart, Ola and Uber, to provide easy finance to small entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY), a top government official said. The three way partnership between l...

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Category : Finance | Comments : 0 | Hits : 653

CA Piyush Goyal to take Additional Charge of Finance Ministry
Posted Date : 15-May-2018 , 10:21:30 am | Posted By CASANSAAR

Railway minister CA Piyush Goyal has been given additional charge of the finance ministry and Smriti Irani has been supplanted from the information and broadcasting ministry to make way for Rajyavardhan Rathore, who has been been given the reins with independant charge. Union minister of state S....

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Category : Finance | Comments : 0 | Hits : 475

Finance ministry considers shore-up certificates to ease bad loan burden of lenders
Posted Date : 09-May-2018 , 01:47:43 pm | Posted By CASANSAAR

The finance ministry is looking at an idea to relieve banks of the burden of non-performing loans and allow them to focus on the core issue of financial intermediation by issuing ‘shore-up certificates’ against their stressed assets to shore up their capital.  “The Prime Mini...

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Category : Finance | Comments : 0 | Hits : 400

SIDBI Celebrates it's Foundation day with launch of ' Samridhi - the virtual assistant' & ' Bankability Kit'
Posted Date : 02-Apr-2018 , 04:25:34 pm | Posted By CASANSAAR

SIDBI celebrated its foundation day today as day of Sampark (connect), Sanwad (interaction), Suraksha (security) and Sampreshan (disseminate).Chairman Managing Director of SIDBI Shri Mohammad Mustafa launched a series of initiatives from its Lucknow bank headquarters. He mentioned that the occasion ...

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Category : Finance | Comments : 0 | Hits : 223

Govt of India and Asian Development Bank (ADB) sign $80 Million Loan Agreement to help boost Youth Employability in HP
Posted Date : 28-Mar-2018 , 10:00:08 am | Posted By CASANSAAR

The Asian Development Bank (ADB) and the Government of India signed $80 million loan here today to help modernize technical and vocational education and training (TVET) institutions and improve the skills ecosystem in the State of Himachal Pradesh. Shri Sameer Kumar Khare, Joint Secretary (Multil...

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Category : Finance | Comments : 0 | Hits : 361

Non-Compliant NBFCs which have not fulfilled their obligations under PML Rules asked to do so
Posted Date : 22-Mar-2018 , 10:54:29 am | Posted By CASANSAAR

Prevention of Money Laundering Act, 2002 (PMLA) and the Rules impose obligation on reporting entities (RE’s) including Non-Banking Financial Companies (NBFC’s) to verify identity of clients, maintain records and furnish information to FIU-IND. To facilitate the filing of prescribed repor...

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Category : Finance | Comments : 0 | Hits : 388

Finance Bill passed in Lok Sabha amid protest by Opposition
Posted Date : 14-Mar-2018 , 04:21:37 am | Posted By CASANSAAR

The Lok Sabha on Wednesday passed Finance Bill approving the budget for the fiscal year beginning April 1. Applying the guillotine process, the Bill was passed without any discussion as the opposition continued to disrupt the proceedings for the eighth day. The guillotine process allows for a vot...

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Category : Finance | Comments : 0 | Hits : 443

FinMin puts out list of 9500 high-risk finance companies
Posted Date : 26-Feb-2018 , 12:33:43 pm | Posted By CASANSAAR

Financial Intelligence Unit (FIU) has released a list of around 9500 Non-Banking Financial Companies (NBFCs), which have been categorised as high-risk financial institutions.  The FIU under the Finance Ministry has released the list on its website showing the names of these NBFCs which have ...

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Category : Finance | Comments : 0 | Hits : 806

No buyers for Indian bonds means more pain for Modi's debt plan
Posted Date : 21-Feb-2018 , 03:26:05 pm | Posted By CASANSAAR

The biggest holders of India's sovereign debt are dumping them.  State lenders have been selling 4.7 billion rupees ($73 million) of government bonds on average every day this year, hurt by deep portfolio losses, data from the Clearing Corp. of India show. Last year, their net daily infl...

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Category : Finance | Comments : 0 | Hits : 399

Constitution of Fifteenth Finance Commission Notified
Posted Date : 27-Nov-2017 , 10:05:40 pm | Posted By CASANSAAR

The Government of India, with the approval President of India, has constituted Fifteenth Finance Commission in pursuance of clause (1) of article 280 of the Constitution, read with the provisions of the Finance Commission (Miscellaneous Provisions) Act, 1951 w.e.f. 27thNovember, ...

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Category : Finance | Comments : 0 | Hits : 254

IBBI notifies the IBBI (Information Utilities) (Amendment) Regulations, 2017
Posted Date : 06-Oct-2017 , 08:08:41 am | Posted By CASANSAAR

IBBI had notified the IBBI (Information Utilities) Regulations, 2017 on 31st March, 2017. These regulations provided that ordinarily a person should not hold more than 10% of paid up equity share capital or voting power of an information utility, while allowing certain specified perso...

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Category : Finance | Comments : 0 | Hits : 440

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