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

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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Category : Finance | Comments : 0 | Hits : 277

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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Category : Finance | Comments : 0 | Hits : 273

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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Category : Finance | Comments : 0 | Hits : 677

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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Category : Finance | Comments : 0 | Hits : 951

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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Category : Finance | Comments : 0 | Hits : 82

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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Category : Finance | Comments : 0 | Hits : 287

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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Category : Finance | Comments : 0 | Hits : 626

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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Category : Finance | Comments : 0 | Hits : 220

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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Category : Finance | Comments : 0 | Hits : 1271

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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Category : Finance | Comments : 0 | Hits : 149

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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Category : Finance | Comments : 0 | Hits : 925

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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Category : Finance | Comments : 0 | Hits : 577

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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Category : Finance | Comments : 0 | Hits : 134

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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Category : Finance | Comments : 0 | Hits : 525

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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Category : Finance | Comments : 0 | Hits : 65

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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Category : Finance | Comments : 0 | Hits : 196

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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Category : Finance | Comments : 0 | Hits : 179

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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Category : Finance | Comments : 0 | Hits : 143

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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Category : Finance | Comments : 0 | Hits : 262

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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Category : Finance | Comments : 0 | Hits : 272

FM Nirmala Sitharaman presents 1st supplementary demand of grants
Posted Date : 28-Nov-2019 , 01:55:40 pm | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman on Thursday sought Parliament nod for additional spending of Rs 21,246.16 crore, including over Rs 8,820 crore for the newly formed union territories of Jammu and Kashmir and Ladakh, in the first batch of supplementary demands. Of this, the net cash outgo will ...

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Category : Finance | Comments : 0 | Hits : 176

FM announces special window to complete stalled real estate projects
Posted Date : 07-Nov-2019 , 07:55:06 am | Posted By CASANSAAR

The Cabinet has approved establishment of a 'Special Window' to provide priority debt financing for completion of stalled housing projects in the Affordable and Middle-Income Housing sector. Briefing media after the Cabinet meeting, Finance Minister Nirmala Sitharaman said a Fund has been...

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Category : Finance | Comments : 0 | Hits : 170

Finance Minister asks PSUs, ​ministries to release payments in a timely manner
Posted Date : 28-Sep-2019 , 10:22:36 am | Posted By CASANSAAR

The finance ministry has asked government departments to clear outstanding dues of suppliers and service providers worth Rs 20,000 crore within the first week of October to provide liquidity in the festival season. It also called for investment plans of ministries over the next four quarters in a bi...

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Category : Finance | Comments : 0 | Hits : 460

Govt notifies changes to FDI in single-brand retail
Posted Date : 20-Sep-2019 , 09:20:17 am | Posted By CASANSAAR

The government on Wednesday formally notified the amendments to the foreign direct investment (FDI) policy  in single-brand retail.  Last month, the Cabinet had relaxed key aspects of the 30% local sourcing rules applicable to single-brand retail entities where FDI is over 51%. In a boo...

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Category : Finance | Comments : 0 | Hits : 353

Govt notifies 8.65% interest rate for EPFO members
Posted Date : 20-Sep-2019 , 08:39:06 am | Posted By CASANSAAR

Government has approved 8.65 per cent interest rate on deposits in Employees Provident Fund for 2018-19. Sources said, Ministry of Labour and Employment has notified 8.65 per cent rate of interest on EPF deposits for its over six crore subscribers. The EPFO has been settling EPF withdrawal claims...

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Category : Finance | Comments : 0 | Hits : 257

Govt announces fresh incentives to boost exports and housing sector
Posted Date : 15-Sep-2019 , 10:43:40 am | Posted By CASANSAAR

Finance Minister Nirmala Sitharaman has announced a fresh set of measures worth around 70,000 crore rupees to boost exports and housing sector. She said that the government will provide a 10,000 crore rupees special window with an aim to help complete ongoing affordable and middle-income housing pro...

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Category : Finance | Comments : 0 | Hits : 255

Govt permits 100% FDI in coal mining, associated infrastructure
Posted Date : 28-Aug-2019 , 08:58:43 pm | Posted By CASANSAAR

The Union Cabinet has relaxed Foreign Direct Investment rule for foreign single-brand retailers and also permitted foreign investment in contract manufacturing and coal mining.  Briefing reporters after the Union Cabinet meeting in New Delhi, Commerce and Industry Minister Piyush Goyal said ...

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Category : Finance | Comments : 0 | Hits : 125

Centre announces series of measures to boost economic growth
Posted Date : 24-Aug-2019 , 09:58:45 am | Posted By CASANSAAR

The government has unveiled a series of measures to achieve higher economic growth. It has withdrawn enhanced surcharge on Foreign Portfolios Investors FPIs, restoring the pre-budget position. Surcharge on domestic investors in equity markets has also been withdrawn.  Briefing media in New D...

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Category : Finance | Comments : 0 | Hits : 396

Govt withdraws higher surcharge tax on FPIs and domestic investors
Posted Date : 23-Aug-2019 , 07:59:03 pm | Posted By CASANSAAR

Union Finance Minister Nirmala Sitharaman on Friday announced a slew of measures trying to pump-prime the economy and assuage concerns of investors as well as corporates arising out of higher taxes and also tax review cases, even as she made a push to reverse the auto sector slowdown.  The F...

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Category : Finance | Comments : 0 | Hits : 226

FinMin in talks with PMO over steps for revival of the economy
Posted Date : 17-Aug-2019 , 06:58:33 am | Posted By CASANSAAR

Finance minister Nirmala Sitharaman Friday said her officials are in discussions with their counterparts in the PMO and once the talks are over government will figure out what remedial steps should be taken and announce the same. However, she refused to say if government is planning to come out w...

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Category : Finance | Comments : 0 | Hits : 314

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