Home » News » Banking & Finance

Banking & Finance

India Post Payment Bank

India Post Payments Bank (IPPB) is a scheduled payment bank offering a range of products such as savings and current accounts, remittances and money transfer, direct benefit transfer, bill and utility payments, enterprise & merchant payments and Aadhar Enabled Payment System (AePS). These products and related services are being offered across multiple channels e.g. Counter Services, Micro – ATM, Mobile ...

Read More »

₹1,45,867 crore gross GST revenue collected for November 2022, records increase of 11% Year-on-Year

The gross GST revenue collected in the month of November 2022 is ₹1,45,867 crore of which CGST is ₹25,681 crore, SGST is ₹32,651 crore, IGST is ₹77,103 crore (including ₹38,635 crore collected on import of goods) and Cess is ₹10,433 crore (including ₹817 crore collected on import of goods) The government has settled ₹33,997 crore to CGST and ₹28,538 crore to SGST from IGST as regular settlement. ...

Read More »

Central Government relaxes provisions of TCS under section 206C(1G) of the Income-tax Act, 1961 in respect of non-resident individuals visiting India

Section 206C (1G) of the Income-tax Act, 1961 (“the Act”) provides for collection of tax by a seller of an overseas tour programme package from a buyer, being a person purchasing such package, at the rate of 5% of the amount of the package. Representations were received from domestic tour operators who were facing difficulties in collection of tax from ...

Read More »

Scheduled Commercial Banks recover Rs 90 crore from financial frauds in last 5 years

Cyber financial frauds in banking primarily relate to frauds that have taken place on ATM/ debit cards, credit cards and internet banking platforms. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in written reply to a question in Lok Sabha today. Giving more details, the Minister stated that as per RBI data on frauds ...

Read More »

Strengthening the Cooperative Movement

State wise list of Non- Credit and Credit Cooperative Societies as per Statistical Profile of National Cooperative Union of India (NCUI) 2018 is given below. District wise list is not maintained centrally. Given the historical heritage of cooperative movement in the country, Government has created a new Ministry of Cooperation with the following mandate as per the Government of India ...

Read More »

21.52 crore loans extended to women borrowers under Pradhan Mantri Mudra Yojana (PMMY) since inception

As on 29.10.2021, 21.52 crore loans have been extended to women borrowers by Member Lending Institutions (MLIs) under the Pradhan Mantri Mudra Yojana (PMMY) since inception of the Scheme. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Rajya Sabha today. The Minister further stated that this ...

Read More »

Gross Direct Tax collections for the Financial Year (FY) 2021-22 register a growth of 47%

The figures of Direct Tax collections for the Financial Year 2021-22, as on 22.09.2021 show that net collections are at Rs. 5,70,568 crore, compared to Rs. 3,27,174 crore in the corresponding period of the preceding Financial Year i.e FY 2020-21, representing an increase of 74.4%. The net collection (as on 22.09.2021) in FY 2021-22 has registered a growth of 27% over FY 2019-20 when the net collection was Rs. ...

Read More »

AJNIFM partners with Microsoft to build an AI and Emerging Technologies Centre of Excellence

 The Arun Jaitley National Institute of Financial Management (AJNIFM) and Microsoft signed a Memorandum of Understanding (MoU) for a strategic partnership to build an AI and emerging technologies Centre of Excellence at AJNIFM. The collaboration seeks to explore the role of cloud, AI and emerging technologies for transforming and shaping the future of public finance management in India.   The ...

Read More »

Exchange Rate Notification No.57/2021 – Customs (N.T.)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.54/2021-Customs(N.T.), dated 17th  June, 2021 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of ...

Read More »

Revenue Deficit Grant of Rs. 9, 871 crore released to 17 States

The Department of Expenditure, Ministry of Finance on Tuesday released the 3rd monthly installment of Post Devolution Revenue Deficit (PDRD) Grant of Rs. 9,871 crore for the year 2021-22 to 17 States. With the release of 3rd installment, a total amount of Rs. 29, 613 crore has been released in the first three months of the current financial year as Post Devolution Revenue Deficit ...

Read More »
WP2Social Auto Publish Powered By : XYZScripts.com