Financial News India: Read all the latest finance news on credit card, online payment, bank loan interest rate, scams, GDP growth Inflation, Saving schemes, PPF, NSC, KVP Bank, FD calculators ULIP IIP numbers
Finance : This guide explains why senior travellers should review travel insurance coverage, organise medical records, and plan ahead before...
Finance : The article explains how local Indian phone numbers enhance credibility and accessibility for international businesses. It highlig...
Finance : The article explains how borrowing within your affordability and understanding total loan costs can make loan management easier. I...
Finance : The article examines how ATMs are facing cash shortages even though currency circulation is at an all-time high. It argues that ba...
Finance : mployers are increasingly migrating retirement savings from superannuation trusts to NPS due to lower costs, greater flexibility, ...
Finance : The Government has exempted interest and capital gains earned by FPIs on Government securities from income tax with effect from 1 ...
Finance : The Ministry of Finance has introduced a unified portal to help individuals search for unclaimed bank deposits, insurance claims, ...
Finance : The IFSCA clarified that retrocession and retention requirements apply to the entire gross reinsurance premium of IFSC Insurance O...
Finance : The authority observed that except life insurance, other insurance segments under IFSCA regulations align with the statutory defin...
Finance : The Ministry of Finance clarified that claims regarding monetisation of temple gold holdings or issuance of gold bonds to temples ...
Finance : The Supreme Court ruled that vicarious liability under the NI Act cannot arise solely from holding an office in a society or compa...
Finance : The Supreme Court refused relief to borrowers who defaulted from the very first instalment after availing an ₹8.09 crore loan. T...
Finance : The Supreme Court upheld a Will executed in favour of the testator’s sister despite objections from his wife and children. The C...
Finance : The Supreme Court held that insolvency proceedings under the IBC cannot be invoked merely to recover disputed dues arising from co...
Finance : The issue was whether indemnity obligations arise only after final appellate confirmation. The Supreme Court held that liability a...
Finance : IFSCA clarified that a common brand name by itself is sufficient to establish a Group Entity relationship under the ship leasing f...
Finance : IFSCA has consolidated multiple regulations and circulars into a single Master Circular for Stock Exchanges and Clearing Corporati...
Finance : IFSCA has introduced a standardized ACAR and ACAC reporting framework for Capital Market Intermediaries in IFSCs. The circular aim...
Finance : IFSCA has warned regulated entities that advanced AI models can accelerate cyberattacks by rapidly identifying and exploiting vuln...
Finance : The International Financial Services Centres Authority clarified that existing ASPs and TechFin entities continuing operations und...
The Ministry of Finance has decided to extend the terms of reference of the Task force which was constituted under the Chairmanship of Shri Nandan Nilekani, Chairman, Unique Identification Authority of India (UIDAI) to recommend and implement a solution for direct transfer of subsidies on Kerosene, LPG and Fertilizer to the intended beneficiaries. A Memorandum to this effect was issued by the Department of Expenditure, Ministry of Finance today.
The Prime Minister has written to the President recommending that the following may be appointed as members of the Union Council of Ministers and has requested that the oath of office and secrecy be administered at 5.00pm today. CABINET MINISTERS :1. Shri V. Kishore Chandra Deo 2. Shri Beni Prasad Verma 3. Shri Dinesh Trivedi 4. Shri Jairam Ramesh
Union Finance Minister Shri Pranab Mukherjee has said that National Bank for Agriculture and Rural Development (NABARD) should deploy new technology, innovate and create financially viable models that can take forward the process of financial inclusion. He said that the primary expectation of the nation from banks, including NABARD, in the next decade is to eradicate financial exclusion. He was addressing the Meeting of the Board of Directors of NABARD on its 29th Foundation Day, here today. NABARD is observing the 30th year of its existence as the ‘Year of Change’.
The Special Judge for CBI Cases has convicted Shri R.Shivakumar, the then Manager, UCO Bank, Davangere Branch (Karnataka) and 7 others for causing loss of Rs.85.20 lakhs to the UCO Bank. All the accused persons were sentenced to undergo Simple Imprisonment for one year with a fine of Rs.1,65,000/-.
The Forty-fourth PPPAC meeting, chaired by Secretary (Economic Affairs), Ministry of Finance met on June 20, 2011 and granted approval to 6 proposals of Ministry of Road Transport and Highways. These proposals are in five States. The list of proposal is given below. The estimated project cost of the approved proposal is Rs, 9773.85 crore. Since its constitution in January 2006, PPPAC has granted approval to 226 proposals, with an estimated project cost of `224464.51 crore. These include National Highways (hundred and seventy eight proposals), Ports (Twenty two proposals), Airports (two proposals), Housing (seventeen proposals) Tourism Infrastructure (one proposal) Railways (one proposal) and Sports Stadia (five proposals).
Now railway passengers can get their e-tickets on their cell phones instead of normal print-outs. Named as ‘m-ticket’, the mobile phone-based ticket booking system envisages a passenger to book his train ticket through mobile phones and carry the display ticket, sent to his cell phone through an SMS.
A draft Micro Finance Institutions (Development & Regulation) Bill, 2011 is now available on the website of Department of Financial Services, Ministry of Finance, Government of India. This draft Bill may be seen at http://finmin.nic.in/the_ministry/dept_fin_services/fin_services.asp . The Government, desires to have public comments and views of the stakeholders at the earliest on the draft Bill before finalizing the Bill. All comments and suggestions may be sent at acsec-bkg@nic.in.
The Finance Minister Shri Pranab Mukherjee has urged all Public Sector Banks/Financial Institutions to exert themselves in containing the downward trend of Asset Quality by devising suitable strategies for containing and rolling back NPAs. He was addressing the review meeting of the Chief Executives officers (CEOs) of Public Sector Banks/Financial Institutions, here today.
India’s exports have registered a growth of 46.4% during June 2011, at US $ 29.2 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-June 2011, exports have reached a level of US $ 79 billion at a growth of 45.7% while the imports were US $ 110.6 billion with a growth of 36% and a trade deficit of negative US $ 31.6 billion, during the same period. During the interaction, Shri Khullar also informed that India’s imports in June 2011 were US $ 36.9 billion registering the growth of 42.4%. Balance of trade for the month of June 2011 stood at negative 7.7 billion US dollar.
Long before the UPA Government came to office in 2004, coal blocks were being allotted under the prevailing law that is the Coal Mines (Nationalisation) Act, 1973. The allotment of coal blocks was only through a mechanism whereby applications were received and scrutinized by an inter-ministerial Screening Committee, which included representatives of the State Governments, where the coal block was situated. The same system was followed by the UPA Government since 2004. The process of inviting applications and their processing was done in a completely transparent manner involving the relevant stakeholders/ Governments. Most importantly, not a single coal block was allotted without the consent of the State Government concerned.
