Tag: Finance Minister

New Delhi: Insurance cover on bank deposits has been increased to Rs 5 lakh from Rs 1 lakh effective Tuesday, the Reserve Bank of India (RBI) said in a statement. The cover is provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI. This, the RBI said, has been […]

New Delhi: Finance Minister Nirmala Sitharaman on Tuesday said that while the current government has been transparent in declaring extra-budgetary expenses the previous UPA regime chose to keep its books clean by pushing its liabilities from oil subsidies to the state-run oil marketing companies (OMCs). Responding to accusations of data and account fudging in the […]

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said the government is monitoring farm credit given by banks in rural areas, adding that she expects to meet the increased target of Rs 15 lakh crore for the next fiscal. The government in Budget 2020-21 has raised the farm loan disbursal target by 11 per cent […]

New Delhi: The decline in the economic growth has bottomed out, said the finance ministry on Friday as the GDP growth slowed to a nearly seven-year low of 4.7 per cent in the quarter ending December 2020. The National Statistical Office (NSO) has, however, upwardly revised GDP growth estimates for the first quarter of 2019-20 […]

New Delhi: Finance Minister Nirmala Sitharaman on Friday said that Reserve Bank of India (RBI) is working towards for early resolution of Yes Bank issue and she is in constant touch with the Governor. “RBI Governor has assured that there will be no loss to any Yes Bank depositor,” she said, adding that the steps […]

New Delhi: With the GST Council, headed by Finance Minister Nirmala Sitharaman, increasing the GST on mobile phones from 12 per cent to 18 per cent on Saturday, industry experts feel it would hit the industry and the consumers hard. Brands are in no position to absorb this impact. “They will, most certainly, decide to […]

New Delhi: Banks are ensuring that their branches remain open and ATMs (automated teller machines) functional with adequate cash amid the nationwide lockdown, according to the Union Finance Minister, here on Monday. Taking to Twitter, Finance Minister Nirmala Sitharaman also said banking correspondents were active. “All banks are ensuring that their branches are kept open, […]

New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced a booster dose for MSMEs including Rs 3 lakh crore collateral free automatic loan for businesses. This will benefit 45 lakh small businesses, she said detailing parts of the Rs 20 lakh crore economic stimulus package. Union Finance Minister Nirmala Sitharaman announces emergency credit lines to […]

New Delhi: Speaking to the media here on Saturday, Finance Minister Nirmala Sitharaman announced major reforms in the mining of minerals through a seamless composite exploration-cum-production regime. FM Nirmala Sitharaman said to introduce competition, transparency and the private sector participation in the coal sector, the government would go for the revenue sharing mechanism instead of […]

New Delhi: Finance Minister Nirmala Sitharman on Tuesday held a review meeting with the Managing Directors of public sector banks (PSB) and asked them to continue reaching out and lending to MSMEs under the collateral-free Emergency Credit Line Guarantee Scheme. In the video conference, she also directed the state-run lenders to try meeting the credit […]

New Delhi: The Centre will allocate an additional amount of Rs 10,000 crore for the Prime Minister Garib Kalyan Rozgar Yojana in a bid to boost rural employment amid the pandemic, Finance Minister Nirmala Sitharaman said on Thursday. The scheme, which includes various employment generating schemes including the MGNREGs, PMGSY among others, is in progress […]

Kolkata: Trading community urged Union Finance Minister Nirmala Sitharaman and Goods and Services Tax (GST) Council on Sunday to withdraw certain provisions of the new GST notification issued a few days back. The government had notified certain changes to the GST Rules on December 22 and some of the rules are set to be applicable […]

Bhubaneswar: Finance Minister Nirmala Sitharaman on Monday presented the Union Budget for the coming financial year and promised a slew of measures to revive the economy which took a beating due to the COVID-19 induced lockdown last year. People across the nation heard in bated breath Sitharaman’s speech as they eagerly waited for announcements which […]

New Delhi: Union Finance Minister Nirmala Sitharaman lashed out at the Congress during her response to the Budget discussion in the Rajya Sabha and said the government schemes are meant only to benefit the poor and not meant for “some Damaad” (son-in-law in clear reference to Robert Vadra). Although she did not take any name […]

New Delhi: Union Finance and Corporate Affairs Minister Nirmala Sitharaman have participated virtually in the First G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Italian Presidency to discuss policy actions for transformative and equitable recovery. The other issues on the agenda on Friday included global economic outlook, financial sector issues, financial inclusion […]