September 20, 2018 06:42 PM IST
As regards Euro, the conversion rate for calculating taxes on imported goods has been fixed at Rs 86.55, as compared to Rs 85.05 on September 6, according to a finance ministry statement.
September 11, 2018 08:28 PM IST
The pecuniary limit was raised last week following amendment in the rules of Recovery of Debts due to Banks and Financial Institutions Act, 1993.
August 31, 2018 02:15 PM IST
Coming Monday, September 3 is not a pan-India holiday and banks only in some states where a holiday is declared under the Negotiable Instruments Act, 1881, will remain closed, it said.
August 29, 2018 05:07 PM IST
The court, however, asked the Centre to talk to the central bank to get some relief for the petitioners using the provisions of the RBI Act within 15 days.
August 27, 2018 09:27 PM IST
The ministry would consult the RBI as per the Allahabad High Court order, which today refused to give any interim relief to private power companies from the RBI's February 12 order on NPAs.
August 23, 2018 07:31 PM IST
Restrictions aimed at straitjacketing virtual currencies have had the reverse impact. Despite a correction in the price of most cryptocurrencies, transactions have gone up substantially in both volume and value after the RBI’s April circular
August 21, 2018 08:18 PM IST
The comfortable forex reserve built up over the last three years will help the government deal with the volatility in oil prices in the international market, the official said.
August 20, 2018 10:09 PM IST
Sources said the finance ministry has proposed to issue a "general exemption" notification under a section of Customs Act to exempt goods from Basic Customs Duty and IGST, which are "imported/supplied for donation for the relief and rehabilitation of the people of Kerala affected by the floods".
August 20, 2018 05:29 PM IST
In order to rationalise and make the process of issuance of certificate for no deduction of tax or deduction/collection of tax at lower rate electronic, the existing Form No 13 and relevant IT Rules are required to be amended.
August 16, 2018 03:22 PM IST
The government treasury has been bogged down by liquidity issues and monetary support to state-run banks.
August 13, 2018 08:16 PM IST
Last month, India had imposed safeguard duty on solar cells imports from China and Malaysia for two years to protect domestic players from steep rise in inbound shipments. The duty was imposed following recommendations by the Directorate General of Trade Remedies (DGTR) under the commerce ministry.
August 08, 2018 08:30 PM IST
FinMin had budgeted for a surplus of Rs 45,000 crore for the current financial year. Therefore, a higher-than-estimated of Rs 5,000 crore would lead to a windfall for the Centre.
August 07, 2018 01:29 PM IST
A relaxation in the rules will help weaker banks, which are foregoing fresh lending, to meet the RBI’s capital adequacy ratio
August 04, 2018 01:10 PM IST
The Railway Convention Committee on Internal Resource Generation has said that the impact of pension payment on the railways at the moment is around Rs 50,000 crore annually.
August 03, 2018 01:31 PM IST
The ministry has cited an increase in the fares on the already-operating network for its refusal to release the additional funds.
August 02, 2018 06:25 PM IST
The second phase of the scheme is expected to entail subsidy only for electric buses and setting up of charging infrastructure for all categories of vehicles.
July 31, 2018 02:35 PM IST
The CPSE ETF comprises 10 state-owned bluechips and shares in these companies can be sold only till the government stake in them reaches 55 per cent.
July 25, 2018 06:22 PM IST
Compelling foreign firms to relocate their servers would offer Paytm an opportunity to steal a march on rivals as they will be more focused on compliance, rather than growth, in the short term.
July 15, 2018 10:23 AM IST
If these banks are unable to meet the norm by August deadline, the Department of Financial Services will have to approach the Securities and Exchange Board of India (Sebi) for exemption, sources said.
July 03, 2018 03:50 PM IST
Arun Jaitley had announced Subramanian’s departure in a Facebook post, saying he would return to the US later this year
June 30, 2018 02:50 PM IST
Goods and Services Tax (GST) was rolled out in the intervening night of June 30 and July 1, last year, in a ceremony held in the Central Hall of Parliament.
June 25, 2018 03:10 PM IST
"Both IDBI Bank and LIC are independent organisations. We have left all the decisions to bank boards and we are not going to micromanage them," a senior finance ministry official told reporters on the sidelines of the two-day annual summit of the Asian Infrastructure Investment Bank.
June 20, 2018 09:03 PM IST
Financial Services Secretary Rajiv Kumar will chair the meeting of all stakeholders tomorrow where the issues and concerns will be discussed at length, a senior finance ministry official said.
June 20, 2018 05:52 PM IST
“This is the best job I have ever had and probably ever will,” he told the reporters, adding that the last date for his role as the CEA is yet to be fixed.
June 18, 2018 08:48 PM IST
Punjab CM Amarinder Singh seeks PM Modi's in the settlement of Rs 31,000 crore food account for procurement of wheat and paddy.
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