The Central Vigilance Commission (CVC) on Thursday expanded the scope of the Advisory Board for Banking and Financial Frauds (ABBFF), which would now examine bank frauds of Rs 3 crore and above and recommend action. Till now, the ABBFF was only looking into banking and financial frauds of Rs 50 crore and above. The ABBFF […]
According to the finance ministry, advance tax collection increased by 53.50%to Rs 4.60 lakh crore so far this fiscal year, indicating a recovery in the economy. Direct tax collections for 2021-22, as on December 16, present that internet collections are at Rs 9.45 lakh crore in contrast to Rs 5.88 lakh crore over the year-ago interval, representing a rise of
Advance tax collection rises 54% to Rs 4.60 lakh crore Read More »
The State Bank of India (SBI) issued $650 million in green bonds on the India International Exchange (India INX) and the Luxembourg Stock Exchange(LuxSE) on November 22. This dual listing is in line with 2021’s topic of the World Investor Week (WIW), ‘sustainable finance’, as indicated by the regulatory body International Financial Services Centres Authority (IFSCA). India
SBI listed USD 650-million Green Bonds on India INX and LuxSE Read More »
Global terror financing watchdog Financial Action Task Force (FATF) has retained Pakistan and added three more countries to its Grey List. In a briefing, FATF president Marcus Pleyer said that three new countries — Turkey, Jordan, and Mali — have been added to the Grey List. Pakistan has addressed 30 of the 34 action plan items, and
FATF retains Pakistan on its ‘Grey List’ of countries, while three new countries added Read More »
SME lender and fintech Rupifi has partnered with non-banking financial company Muthoot Finance aims to power 15 million small and medium-sized enterprises with access to instant credit in the next few years. The companies started this partnership earlier this year and are now looking to scale this across different industry verticals in the country. Launched in January 2020, Rupifi allows SMEs to flexibly
Rupifi partners with Muthoot Finance to provide instant credit to SMEs Read More »
Finance Minister Nirmala Sitharaman and her American counterpart, Treasury Secretary Janet Yellen, participated in the 8th U.S.-India Economic and Financial Partnership on October 14, 2021. India and the US reaffirmed their commitment to raising $100 billion annually from public and private sector sources to help develop the two countries’ efforts to tackle climate change. The climate crisis
The Asian Development Bank (ADB) has announced it is elevating its ambition to deliver climate financing to its developing member countries (DMCs) to $100 billion from 2019–2030. Earlier in 2018, ADB had announced an $80 billion goal for climate financing for developing countries in Asia during 2019-2030. The additional $20 billion in financing support will
ADB Raises 2019–2030 Climate Financing Goal to $100 Billion Read More »
Piramal has completed the acquisition of Dewan Housing Finance Limited (DHFL) for Rs 34,250 crore which includes a cash component and non-convertible debentures. This is the first successful resolution of a financial services company under the Insolvency and Bankruptcy Code (IBC). The total consideration of Rs 34,250 crore includes an upfront cash payment of nearly Rs 14,700 crore
Union Finance Minister has inaugurated Doorstep Banking Services by Public Sector Banks (PSBs) to provide the convenience of banking services to the customers at their doorsteps. Daily Current Affairs Quiz 2020 Key-Points As part of the EASE Reforms, Doorstep Banking Services is envisaged to provide convenience of banking services to the customers at their doorstep
Finance Minister unveiled Doorstep Banking Services Read More »
The Economic Advisory Council of the Fifteenth Finance Commission (XIV-FC) has been scheduled to meet on 23-24 April 2020. The online meeting will be presided by Chairman of the 15th Finance Commission Shri N.K. Singh. The meeting will be attended by all the Members, Senior Officials of the Finance Commission and the 5 Members of
Advisory Council of the 15th Finance Commission to meet on 23-24 April Read More »
