Page-3 of Finance Ministry
Government to release Rs 75 commemorative coin to mark 75th anniversary of Tricolour hoisting by Bose
Union Ministry of Finance has announced to release Rs 75 commemorative coin on occasion of 75th anniversary of hoisting of Tricolour for first time by Netaji Subhash Chandra Bose at Cellular Jail, Port Blair on December 30, 1943. Earlier on ..
Month: Current Affairs - November, 2018
Finance Ministry launches web portal to grant loans to MSMEs within hour
Union Finance Minister Arun Jaitley launched portal www.psbloansin59minutes.com to enable micro, small and medium enterprises (MSMEs) to get in-principle approval of loans within hour without need for branch visit. The web portal will enable in principle approval for MSME loans ..
Month: Current Affairs - September, 2018
Government doubles monetary limit for filing cases in DRT
Union Finance Ministry has doubled pecuniary limit to Rs. 20 lakh from Rs.10 lakh for filing loan recovery application in Debt Recovery Tribunals (DRT) by banks and financial institutions. It means that bank or financial institution or consortium of banks ..
Month: Current Affairs - September, 2018
Government to infuse Rs 11,336 crore capital in 5 public sector banks by September-end
Union Finance Ministry is planning to infuse additional capital close to Rs 11,336 crore in 5 more public sector banks (PSBs) by September 2018-end. These five state-owned banks are Punjab National Bank (PNB), Corporation Bank, Andhra Bank, Allahabad Bank and ..
Month: Current Affairs - July, 2018
Government raises threshold monetary limit for filling appeals relating to tax cases
Union Finance Ministry has hiked threshold monetary limit for tax departments to file appeals all three levels of appeal — Appellate Tribunals, High Courts, and Supreme Court. The move is aimed at significantly decreasing taxpayer greivances and litigation burden of ..
Month: Current Affairs - July, 2018
Bharat-22 ETF follow-on offer may be worth Rs. 10,000 crore
The Union Finance Ministry may come out with Rs. 10,000 crore follow-on fund offer of Bharat-22 exchange traded fund (ETF) as it looks to dilute stake in Coal India Limited (CIL) to meet the minimum public holding norm. Besides, it ..
Month: Current Affairs - April, 2018
Government levies 10% import duty on key smartphone components
The Central Bureau of Excise and Customs (CBEC) under Finance Ministry has imposed a 10% duty on imports of key smartphone components such as populated printed circuit boards (PCBs), camera modules and connectors. At present there is zero import duty ..
Month: Current Affairs - April, 2018
Government imposes anti-dumping duty on Ofloxacin import from China
The Revenue Department in the Finance Ministry has imposed anti-dumping duty on import of ‘Ofloxacin’, a pharma product used in treatment of certain infections from China. It was imposed for three years following recommendations of Directorate General of Anti-Dumping and ..
Month: Current Affairs - March, 2018
FIU categorises 9,491 NBFCs as high risk for PMLA non-compliance
The Financial Intelligence Unit (FIU) under Finance Ministry has categorised around 9,491 non-banking financial companies (NBFC) as high risk prone financial institutions as they have not complied with stipulated provision of Prevention of Money Laundering Act (PMLA). There are about ..
Month: Current Affairs - February, 2018
Government to ban cryptocurrencies from its payments system
The Union Finance Ministry is planning to ban cryptocurrencies from payments system and at the same time appoint regulator to oversee unregulated exchanges that trade in crypto assets. The Dinesh Sharma committee constituted by the Government to look into issues ..