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Latest Articles in finance ministry

Finance Ministry Calls Banks To Discuss New Facility To Drain Cash

The finance ministry has called bankers into a meeting on Friday to discuss setting up a new facility to absorb surplus cash in the banking system

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Banks' Stressed Loans Rise To $147.33 Billion As Of December 2016

As of end-September, the banks' total stressed loans were 8.97 trillion rupees, according to data from the Reserve Bank of India

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NPAs At Record High: PAC For Naming And Shaming Defaulters

According to the Finance Ministry data, the NPAs of the country's largest lender State Bank of India is Rs 97,356 crore, followed by Rs 54,640 crore of Punjab National Bank and Rs 44,040 crore of Bank of India

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Tax Filings, Refunds See Huge Surge

More Indians filing tax returns and over 58% growth in tax refunds in past three years augurs well for the economy

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Income Tax Department Extends Response Window On Deposit Details To February 15

The I-T department has extended the date for replying to the queries on cash deposits during the demonetisation period to February 15 and asked people to declare details of cash donations or gifts of Rs 20,000 or more to reduce the chances of further scrutiny

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Ajay Tyagi To Head Capital Markets Regulator Sebi

The government has appointed senior finance ministry official Ajay Tyagi as the chairman of its capital markets regulator for a five-year term

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Finance Ministry Warns Employees Of Action For Criticising Government Policies

The Finance Ministry has warned employees of disciplinary action if they criticise the government or its policies

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GAAR From April 1, To Be Invoked In Fair, Rational Manner: CBDT

The new rules give tax authorities the right to scrutinise and tax transactions which they believe are structured solely to avoid taxes

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Government Considering Regulator For Electronic Payments

With digital transactions gaining traction, the government is mulling setting up of a separate regulator for enabling electronic payment system in the country as well as regulate transaction charges

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RBI Employees Urge Governor To Protect Autonomy

Economists said slow replacement of the bills undermined the RBI's reputation for competence, while some raised doubts about the bank's independence for agreeing to implementation with limited preparation

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Digital Push To Help Small Traders Save Up To 46% In Tax, Says Government

The government has said small traders will be able to save up to 46 per cent in tax by migrating from cash to digital transactions as the decision to tweak the presumptive income norms would reduce tax liability

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Finance Ministry Asks RBI, Banks To Double-check Old Notes Deposit Data

Finance Ministry on Thursday exuded confidence that supply of new currency notes will considerably improve in next 2-3 weeks even as it asked the RBI and banks to "countercheck" the data regarding deposit of now-defunct currency notes to ensure there is no double counting

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Hike In Fares Likely As Railways Mulls Ways To Raise Resources

Train passengers may have to shell out more as Railways is mulling increasing fares in a bid to raise resources after the Finance Ministry rejected its proposal of a special safety fund

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