Finance news

Piyush Goyal gets interim charge of finance in Cabinet reshuffle

During the period of indisposition of Shri Arun Jaitley, Minister; the portfolios of Minister of Finance and Minister of Corporate Affairs held by him, be temporarily assigned to Shri Piyush Goyal, in addition to his existing portfolios....

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All about Budget Session 2018 of Parliament; Concluded on 6th April, 2018

Budget Session 2018 of Parliament concludes The Budget Session, 2018 of Parliament which commenced on Monday, 29th January, 2018 has been adjourned sine die today i.e. Friday, the 6th April, 2018. In between both parts of the session, both Houses also adjourned for recess for a period of 23 days on Friday, the 9th February, […]...

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Rate of interest w.e.f. 01.01.2018 to 31.03.2018 on small savings schemes

The revised Rates of Interest on various Small Savings Schemes Including Saving Deposits, Public Provident Fund, Kisan Vikas Patra and Sukanya Samriddhi Accounts Scheme for the 4th Quarter of financial year 2017-18 is as below:...

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India’s Growth Story Since 1990s Remarkably Stable & Resilient: World Bank

The Indian economy is set to revert to its trend growth rate of 7.5 percent in the coming years as it bottoms out from the impact of the Goods and Services Tax (GST) and demonetization, a new World Bank report says....

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Fugitive Economic Offenders Act, 2018 as introduced in Lok Sabha

THE FUGITIVE ECONOMIC OFFENDERS BILL, 2018 A Bill to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto....

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Govt proposes single act for PPF & Govt small savings schemes

At present, premature closure of a Public Provident Fund (PPF) account is permitted on specified grounds on completion of five financial years from the date of opening of account. Opening of accounts in the name of a minor is permitted under all the small savings scheme except the Senior Citizens’ Savings Scheme....

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Govt to leverage Fin tech to enhance financial inclusion of MSMEs

The Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fin tech space in India with a view to make Fin tech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-à-vis other emergin...

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Cabinet approves Fugitive Economic Offenders Bill, 2018 to attach property of Fugitive Economic Offenders

Fugitive Economic Offenders Bill, 2018 Bill would help in laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts....

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PNB Scam: CBI Register case against Nirav Modi & others

CBI Registers a case against Managing Director of a Mumbai based private Companies and Others Including then bank Officials for Causing an Alleged Loss of Rs. 4886.72 Crore (Approx) to PNB; Conducts Searches at 26 Locations...

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PNB clarifies on alleged Scam by Nirav Modi and Gitanjali group

On 16.01.2018, the partnership firm of Nirav Modi group approached our branch at Brady House, Mumbai and presented a set of import documents with a request to allow buyers' credit for making payment to the overseas suppliers. ...

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