The Finance Ministry has reported to the Lok Sabha that public sector banks (PSBs) have transferred over ₹45,000 crore in unclaimed deposits to the Depositor Education and Awareness (DEA) Fund during the period from 2019-20 to 2024-25 (up to December 31, 2024). This fund is managed by the Reserve Bank of India (RBI) as part
Unclaimed deposits of over ₹45,000 cr transferred to special fund Read More »
The Union Budget of India, known as the Annual Financial Statement under Article 112 of the Constitution, is prepared by the Ministry of Finance for the upcoming financial year. It details the government’s planned expenditures, anticipated revenues, and economic strategies. The budget is unveiled on February 1 and is set to take effect by April.
Budget 2025: 10 Important Points About the Union Budget Read More »
Arunish Chawla, a senior IAS officer of the 1992 batch from the Bihar cadre, has been appointed as the new Revenue Secretary in the Ministry of Finance. This follows the vacancy created after Sanjay Malhotra’s appointment as RBI Governor. Chawla will take charge from Ajay Seth, who had been handling the additional responsibility of Revenue
Arunish Chawla Appointed as New Revenue Secretary in Finance Ministry Read More »
Union Finance Minister Nirmala Sitharaman inaugurated five specialized “Nari Shakti” branches of Union Bank of India in Bengaluru, Chennai, Visakhapatnam, and Jaipur. These branches aim to boost financial inclusion and support for women entrepreneurs, especially in the manufacturing and service sectors. By launching these branches, the government and Union Bank emphasize empowering women through accessible
Oil India Upgraded to Maharatna, ONGC Videsh to Navratna by Finance Ministry: The Finance Ministry of India promoted two large oil sector businesses, Oil India and ONGC Videsh, to the prestigious Maharatna and Navratna categories, providing them greater autonomy for investment, joint venture formation, and other financial decisions. Daily Current Affairs Quiz: August 2023 Oil
Oil India Upgraded to Maharatna, ONGC Videsh to Navratna by Finance Ministry Read More »
Finance Ministry appoints SEBI ED Pramod Rao to IFSCA Board: Pramod Rao, Executive Director of SEBI, has been appointed to the Board of the International Financial Services Centre Authority (IFSCA) by the Finance Ministry. Rao has replaced Sujit Prasad, Executive Director SEBI, who was appointed as a Member (representing SEBI) in IFSCA in July 2020.
Finance Ministry appoints SEBI ED Pramod Rao to IFSCA Board Read More »
Gross GST Collection in June Reaches ₹1.61 Trillion, Marking Fourth Occurrence Above ₹1.60 Trillion: According to the Ministry of Finance, India’s Goods and Services Tax (GST) collection for the month of June was $1.61 trillion. This is a remarkable 12% increase above GST income collected in the same month the previous year. It is also
GAIL Achieves Authorized Economic Operator (AEO) T3 Status: The Central Board of Indirect Taxes and Customs, Ministry of Finance, has granted GAIL India Limited, a leading natural gas firm in India, the renowned Authorised Economic Operator (AEO) T3 designation. This recognition marks the highest level of facilitation for exporters and importers, positioning GAIL as a
GAIL Achieves Authorized Economic Operator (AEO) T3 Status Read More »
Journalist A.K. Bhattacharya authored a new book titled “India’s Finance Ministers”
Journalist A.K. Bhattacharya authored a new book titled “India’s Finance Ministers” Read More »
Net direct tax collections at Rs 16.6 lakh crore in 2022-23, up 160% from 2013-14: The Finance Ministry has revealed time series data demonstrating a huge growth in net direct tax revenues, which increased by 160% from Rs 6,38,596 crore in 2013-14 to Rs 16,61,428 crore in 2022-23. Gross direct tax collections also saw a
Net direct tax collections at Rs 16.6 lakh crore in 2022-23, up 160% from 2013-14 Read More »
