Prime Minister Shri Narendra Modi launched a platform for “Transparent Taxation – Honouring the Honest” today through video conferencing. Speaking on the occasion he said that the process of Structural Reforms in the country has reached new heights today. The Prime Minister said the platform of  “Transparent Taxation – Honouring the Honest, has been launched to meet the requirements of ...

Last week, the Reserve Bank of India has allowed Banks to declare a three-month moratorium on all term loans outstanding as on March 1, 2020, as well as on working capital facilities. The Indian Banks Association has answered a list of Frequently Asked Questions about the technicalities of the moratorium. QUESTION 1: When/what was the RBI announcement? ANSWER: Last week, the Reserve Bank of ...

            To strengthen the Public Sector Banks (PSBs), over the last four financial years, the Government of India has taken comprehensive steps under its 4R’s strategy of recognising NPAs transparently, resolving and recovering value from stressed accounts through clean and effective laws and processes, re-capitalising banks, and reforming banks through the PSB Reforms Agenda. Over ...

The Government of India has set- up a Project Monitoring-Invest India Cell (PMIC), earlier known as Project Monitoring Group, for resolving of issues and fast tracking the setting-up and expeditious commissioning of large Public, Private and Public-Private Partnership (PPP) Projects. However, there is no prescribed criterion for classifying a project as a Stalled Project. The primary focus of PMIC is ...

National Bank for Agriculture and Rural Development (NABARD) has reported that it extends refinance to banks and provides loan assistance to the State Governments for promotion and development of agriculture and other rural activities. State-wise financial assistance provided by NABARD to State Governments during the last three years under various Funds i.e. Rural Infrastructure Development Fund (RIDF), Long Term Irrigation ...

As per Reserve Bank of India (RBI) data on global operations, aggregate gross advances of Public Sector Banks (PSBs) increased from Rs. 18,19,074 crore as on 31.3.2008 to Rs. 52,15,920 crore as on 31.3.2014. As per RBI inputs, the primary reasons for spurt in stressed assets have been observed to be, inter-alia, aggressive lending practices, wilful default / loan frauds ...

Over 300 stakeholders from across the Government, Banking and Startup investors chart future of financial technologies To shape India’s continued ascendancy in FinTech, build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion, NITI Aayog organized a day-long FinTech Conclave in New Delhi today. The Conclave featuredrepresentatives from across the financial space – ...

The State Bank of India (SBI), in the VII Phase of sale of Electoral Bonds, has been authorized to issue and encash Electoral Bonds through its 29 Authorized Branches (as per list enclosed) w.e.f. 01.01.2019 to 10.01.2019. It may be noted that Electoral Bonds shall be valid for fifteen calendar days from the date of issue and no payment shall be made to ...

5,02,085 beneficiaries and projects have been assisted under the Prime Minister Employment Generation Programme (PMEGP) in 2018-19 (as on 30.11.2018) since its inception in 2008-09. This was stated by Minister of State (Independent Charge) for Micro, Small and Medium Enterprises, Shri Giriraj Singh while replying to a question in the Rajya Sabha today.           In reply to another question, the ...

On the basis of the decision of the Government of India, the interest rates for Small Savings Schemes are to be notified on Quarterly Basis with the approval of the Union Finance Minister. Accordingly, the Rates of Interest on various Small Savings Schemes for the Third Quarter of the Current Financial Year 2018-19 starting 1st October, 2018, and ending on 31st December, ...