Finance Ministry

10 July, 2020, 03:15 PM IST

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FINANCE MINISTRY

RGF has nothing to fear, but ask same questions to your 'holy cows' too: Congress to Govt

The decision to hold a probe into these trusts was taken on Wednesday, nearly a fortnight after the BJP said the RGF had received funds from the Chinese Embassy. The allegation came amidst the stand-off between the Indian Army and China's PLA in Ladakh.

Government may need to further extend tax return deadline if COVID cases continue to rise: Experts

The coronavirus cases in the country have ...

Cost inflation index for FY 2020-21 used for LTCG calculation notified by finance ministry

The Cost Inflation Index (CII) for FY 2020-21 will...

  • YONO is currently used by the bank to hawk its products and as an e-commerce platform. It is expecting regulatory clearances to come through as the B2B marketplace is not going to earn it revenue but help with its banking business.

    The finance ministry has barred all ministries and departments from proposing new schemes in FY21, barring those announced under the Pradhan Mantri Garib Kalyan Yojana and the Atmanirbhar Bharat Abhiyan, to cope with spending needs due to the Covid-19 crisis amid an economic slump.

    The post will attract remuneration of up to Rs 3,30,000 a month. The appointment would initially be for three years, and can be extended up to five years, depending on the requirements or till the age of 60 years, whichever is earlier.

    Javdekar, who was addressing the media and entertainment industry via a video message during the inaugural session FICCI FRAMES 2020, said that the virtual space is the new normal.

    The finance ministry may assess the capital requirement of public sector banks after the September quarter as there would be greater clarity about a spike in bad loans by that time.

    The decision is subject to the approval of the Department of Revenue under the finance ministry, said RK Singh, minister of state for power and new and renewable energy, told renewable energy players at a meeting called by his ministry to convey the decision.

    Bild am Sonntag newspaper reported earlier on Sunday that the Justice and Finance Ministries would on Monday cut ties with the FREP, a quasi-private entity that supervises the financial statements of listed firms. “We have reached an agreement with the Finance Ministry to terminate the contract,” said the Justice Ministry official.

    Currently its capped at 4.5 % over LIBOR; May help borrowers to improve liquidity at the time of Covid pandemic

    Ministry sources said that in the present economic scenario during the COVID-19 pandemic, any purported proposal of introducing a calamity cess would be nothing less than an adversity itself. This would prove to be counter-productive, as sales are already at low volume and the industry is facing a deep crisis for want of demand and likely labour challenges, a source said.

    Even the Economic Survey 2017 had proposed this idea, suggesting the creation of a bad bank called Public Sector Asset Rehabilitation Agency (PARA) to help tide over the problem of stressed assets.

    The appointment comes after the Bank Boards Bureau (BBB), the headhunter for state-run banks and financial institutions, recommended Jaishankar on March 15. The post lied vacant for three years before the appointment.

    The virus has infected over half a million people in the world's second-most populous nation, hitting economic activity, but fall in the unemployment rate suggested the worst may be over for the economy, at least for now.

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