Finance Ministry

India Proposes Easing Local Data Storage Rules For Foreign Payment Firms: Report

India News | Reuters | Wednesday July 11, 2018

The Finance Ministry has proposed relaxing a directive from the Reserve Bank of India that would compel global payment firms to store customer data only locally, following weeks of intense lobbying by U.S. companies and trade bodies.

IIM-Ahmedabad Seeks Ministry's Help To Resolve 52 Crore GST Notice Issue

India News | Press Trust of India | Monday July 9, 2018

The Indian Institute of Management-Ahmedabad (IIM-A), which has been issued an Rs 52-crore GST notice, has requested the Union HRD ministry to intervene with its finance ministry counterparts to resolve the issue, saying the move will hit its finances.

Railways Want 2,500 Crore For CCTVs At All Stations, Trains

India News | Indo-Asian News Service | Monday July 9, 2018

Unable to get further allocations from the Finance Ministry under the Nirbhaya Fund, Indian Railways is exploring the loan route to raise Rs 2,500 crore to install CCTVs at all stations and coaches to ensure state-of-the-art surveillance systems in the entire rail network across the country.

Supreme Court Backs Ban That Virtually Outlaws Cryptocurrencies in India

Upmanyu Trivedi and Rahul Satija, Bloomberg | Wednesday July 4, 2018

The finance ministry has yet to make a final ruling on a formal ban, but the recent volatility in cryptocurrency markets has only emboldened policymakers.

GST Day Live Updates: Centre Celebrates One-Year Of Tax-Reform

India News | Edited by Amrita Ray | Monday July 2, 2018

On the completion of one year of the rolling out of the GST plan, the government is to celebrate GST Day today at the Ambedkar International Centre to mark the first anniversary of the launch of the new indirect taxation regime. Terming GST as a "fitting tribute to spirit of cooperative federalism", the Finance Ministry said the first year has been...

China Lends $1 Billion To Pak To Boost Foreign Currency Reserves: Sources

World News | Reuters | Sunday July 1, 2018

China has lent Pakistan $1 billion to boost the South Asian country's plummeting foreign currency reserves, two sources in Pakistan's finance ministry told Reuters, amid growing speculation of another International Monetary Fund bailout.

Officer In Aircel-Maxis Probe Hits Out At Boss Hasmukh Adhia: 10 Facts

India News | Reported by Neeta Sharma, Edited by Aloke Tikku | Thursday June 28, 2018

In a huge embarrassment for the government, an officer of the central probe agency Enforcement Directorate (ED), made a scathing attack on his boss in the finance ministry, Hasmukh Adhia, after the Supreme Court agreed to move him out of the team probing the sensitive Aircel-Maxis case. The top court had accepted the centre's secret report that cas...

Delhi Metro Projects In 5 Cities Of Madhya Pradesh, UP Get In-Principle Approval

Delhi News | Press Trust of India | Tuesday June 26, 2018

The Housing and Urban Affairs (HUA) Ministry has received in-principle approval from the Finance Ministry for the phase IV of Delhi metro and metro rail projects in five cities of Madhya Pradesh and Uttar Pradesh, a senior official said today.

IDBI Bank-LIC Deal: Boards To Take A Call, Says Finance Ministry Official

Business | Press Trust of India | Monday June 25, 2018

There have been reports that the government might ask LIC, which already owns over 10% in IDBI Bank, to take at least 40% more in it.

Income Tax Department To Crack Down On Panama Paper Leak Cases. 10 Points

Business | NDTV Profit Team | Friday June 22, 2018

The Panama Paper leaks involving 426 persons have been investigated by the Income Tax Department and other member agencies of multi agency group

Joint Probe Group Checking New Info On Panama Papers: Finance Ministry

India News | Press Trust of India | Thursday June 21, 2018

The finance ministry today said the fresh revelations under the 'Panama Paper Leaks' are being looked into by the Multi Agency Group (MAG), which includes the tax department and the Reserve Bank.

Arun Jaitley 'The Dream Boss': Top 5 Quotes Of Arvind Subramanian

India News | Edited by Arun Nair | Wednesday June 20, 2018

Hours after Union Minister Arun Jaitley confirmed Arvind Subramanian's exit, the outgoing Chief Economic Adviser briefed media about his four year stint in the post. "I had a dream job and my seniors shared the same vision as I did," Mr Subramanian, 59, said. Arvind Subramanian today said he has not yet decided on the exact date of leaving the fina...

So Who's Finance Minister Anyway, Wonders Congress's Manish Tewari

India News | Edited by Deepshikha Ghosh | Monday June 18, 2018

As Union Minister Arun Jaitley today hit back at critics on the government's economic policies, the Congress questioned, who is the Finance Minister of India?

Opinion: Bad Bank Politically Expedient Before 2019 Polls, But A Bad Idea

Business | Andy Mukherjee, Bloomberg Opinion | Tuesday June 12, 2018

The proposal to set up a bad bank looked senseless even when it was first mooted in early 2016. It looked downright silly when the finance ministry floated the idea of raiding the central bank's reserves to run the rehab clinic for toxic debt.

No FIR, No Offence Alleged, "Still Case Against Me" Says P Chidambaram

India News | Edited by Anindita Sanyal | Tuesday June 5, 2018

Former Union minister P Chidambaram, who was questioned for nearly six hours today by the Enforcement Directorate in connection with the Aircel-Maxis money laundering case, said in a series of tweets that the questions and answers were what is already on file.