Finance Ministry

Finmin asks banks to place in place oversight mechanism for environment friendly administration of pending circumstances in DRTs

by

The Finance Ministry on Saturday requested banks to place in place efficient monitoring and oversight mechanisms for environment friendly administration of pending circumstances in Debt Restoration Tribunals (DRTs). Monetary Companies Secretary M Nagaraju, who chaired a gathering with chairpersons of Debt Restoration Appellate Tribunals (DRATs) and Presiding Officers of Debt Restoration of Tribunals (DRTs) additionally … Read more

Banks requested to implement efficient measures for optimising restoration from pending circumstances at DRT

by

The Finance Ministry has urged banks to have clearly outlined coverage on small and excessive worth circumstances which are pending in Debt Restoration Tribunals (DRTs).  Such an strategy would assist optimise the restoration for the banks. In formulating a settlement coverage, banks must issue within the transaction prices whereas pursuing pending restoration circumstances, the Finance … Read more

Windfall levy on domestically-produced levy dropped at zero

by

New Delhi The Finance Ministry late on Thursday introduced down windfall tax on domestically produced crude to zero from ₹1,800 a tonne. That is the second time the tax has been lowered to zero. The central authorities, had with impact from the July 1, 2022, imposed sure duties /cesses on domestically produced crude petroleum. Nonetheless, … Read more

FinMin asks PSBs to undertake pilot of recent credit score evaluation mannequin for MSMEs  

by

According to its Price range announcement earlier this yr, the Finance Ministry has requested Public Sector Banks (PSBs) to undertake pilot programmes of the brand new credit score evaluation mannequin for MSMEs.  The Indian Banks Affiliation (IBA), which has been tasked with the duty to give you the brand new credit score evaluation mannequin, official sources … Read more

FinMin relaxes money administration guidelines to spice up authorities spending in present fiscal

by

The Finance Ministry on Tuesday relaxed money administration pointers to spice up spending within the remaining interval of the present fiscal. The transfer turns into crucial as low government-spending as a result of basic elections has affected progress in the course of the April-June quarter of the present fiscal. Moreover, the federal government has set … Read more

FinMin mulls authorized change to permit Variable Capital Firm

by

The Finance Ministry is toying with the concept of permitting the novel company construction of Variable Capital Firm (VCC) to satisfy the distinctive wants of funding funds. This will likely initially be allowed in GIFT Metropolis, which is the nation’s sole worldwide monetary providers centre (IFSC). Such constructions have, lately, obtained important consideration inside the fund administration … Read more

Finance Ministry poised for overhaul with new Finance, Expenditure, Public Enterprises Secretaries

by

Because the Finance Ministry will get prepared for the Union Finances 2025-26, the paperwork will endure modifications with the designation of a brand new Finance Secretary and the appointment of two Secretaries – Expenditure and Public Enterprises. The Ministry has six departments: Financial Affairs, Expenditure, Income, Funding & Public Asset Administration, Monetary Companies, and Public … Read more

Property gross sales indexation change to profit taxpayers, not for income enhance: FinMin

by

Finance Ministry asserted on Wednesday that the Price range 2024 proposal to get rid of the indexation profit for property gross sales was not a “revenue-raising measure” and that the brand new capital good points tax regime won’t result in the next tax burden on actual property transactions. Quite the opposite, the brand new regime … Read more

Funds 2024 Bulletins, Stay Updates: Modi 3.0’s first full Funds set to form ‘Viksit Bharat’ imaginative and prescient

by

Feedback Feedback should be in English, and in full sentences. They can’t be abusive or private. Please abide by our neighborhood pointers for posting your feedback. We’ve migrated to a brand new commenting platform. In case you are already a registered consumer of TheHindu Businessline and logged in, you might proceed to interact with our … Read more

Commerce Division to shoulder exporters’ GST woes

by

The Commerce Division has determined to take up with the GST Council and the Finance Ministry the GST associated issues confronted by exporters, similar to problems with compliance, refunds and audits, to make sure speedy redressal of grievances, sources have stated. Exporters have been complaining about receiving show-cause notices from GST authorities, both suo moto … Read more