Page 3 - Latest Updates on Nirmala Sitharaman
Value of rupee market-determined with no specific level or band: Sitharaman
Finance Minister Nirmala Sitharaman says the rupee is market-determined with no target band, while RBI intervenes only to curb excessive volatility
 "Value of rupee market-determined with no specific level or band: Sitharaman")
FCNR(B) inflows trail expectations as rupee comes under fresh pressure
The rupee weakened as initial FCNR(B) deposit inflows fell short of market expectations, though analysts said it was too early to assess the success of the RBI's measures
 "FCNR(B) inflows trail expectations as rupee comes under fresh pressure")
India asks state-owned banks to step up foreign currency deposits
The Centre has asked state-run banks to intensify efforts to mobilise NRI deposits as policymakers seek to strengthen foreign exchange reserves
 "India asks state-owned banks to step up foreign currency deposits")
FM asks banks to step up NRI outreach as FCNR(B) mobilisation gathers pace
Lenders report encouraging response from Singapore, HK, Gulf, UK, US; ECB inflows seen picking up in Q3 FY27
 "FM asks banks to step up NRI outreach as FCNR(B) mobilisation gathers pace")
FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive
The finance minister will review the progress of the FCNR(B) deposit mobilisation campaign and discuss overseas borrowing plans as the RBI's temporary incentives remain in place until September 30
 "FM Sitharaman to meet PSB chiefs to review foreign currency deposit drive")
FM Nirmala Sitharaman to meet heads of public sector banks on Monday
The move came at a time when FCNR(B) deposit inflows weakened sharply, with net inflows dropping to just $946 million in FY26 from $7.1 billion in FY25
FM Sitharaman, CEA urge GCCs to move up the value chain as AI threat looms
Nirmala Sitharaman urged GCCs to move up the value chain, while the CEA warned AI could erode India's cost advantage if firms fail to innovate
FM Sitharaman asks toy makers to aim for a quarter of global market by 2032
Finance Minister Nirmala Sitharaman urged the Indian toy industry to target a quarter of the global toy market, citing government support and quality measures to boost manufacturing and exports
Middle class growth engine of India, 500 cities to be economic hubs: FM
Quoting an OECD study, Sitharaman said India will surpass China in absolute terms in its middle-class population size between 2030 and 2035 on the back of several measures taken by the government
 "Middle class growth engine of India, 500 cities to be economic hubs: FM")
Sitharaman invites French firms to partner in India's Viksit Bharat journey
There are approximately 1,000 French companies operating in India
 "Sitharaman invites French firms to partner in India's Viksit Bharat journey")
Sitharaman begins four-day France visit to deepen economic, strategic ties
The finance minister will co-chair the India-France Economic and Financial Dialogue, meet business leaders and participate in a global economic forum during her four-day visit
States should use borrowings for asset creation, not handouts: FM
Sitharaman underscored that taking loans to create public infrastructure yields a positive economic impact and generates employment for the next 50 to 60 years
 "States should use borrowings for asset creation, not handouts: FM")
Amid fiscal worries, govt puts PSU share sales on fast track to raise funds
As part of the stake-sale drive, an OFS in LIC is also likely to be launched "very soon"
 "Amid fiscal worries, govt puts PSU share sales on fast track to raise funds")
Centre orders corrective measures after Jitu Munda incident in Odisha
The response from the Centre came in the wake of a letter written by Patnaik to Union Finance Minister Nirmala Sitharaman on May 2 seeking exemplary action against officials of the bank
 "Centre orders corrective measures after Jitu Munda incident in Odisha")
Northeast has potential to become India's next growth engine: Sitharaman
The Finance Minister said the region's strengths in sustainable agriculture and premium organic produce could drive a new phase of economic growth
 "Northeast has potential to become India's next growth engine: Sitharaman")
Turning the tide: India must address fundamental gaps in external account
Easing West Asia tensions may stabilise India's external accounts, but policymakers must focus on boosting FDI, exports and long-term capital inflows
 "Turning the tide: India must address fundamental gaps in external account")
More measures on anvil to attract global flows, says FM Sitharaman
Sitharaman says govt working to make investments more attractive
Centre taking more steps to attract foreign capital, says FM Sitharaman
FM said measures taken by the government to exempt withholding tax on interest and capital gains tax made by foreign investors in G-secs will be the first step towards drawing foreign capital back
 "Centre taking more steps to attract foreign capital, says FM Sitharaman")
Time for lenders to rethink MSME credit beyond collateral-based models
Financial institutions must pivot towards cashflow tracking and unified digital networks to unlock funding for small businesses
 "Time for lenders to rethink MSME credit beyond collateral-based models")
FM says Rahul Gandhi undermines India's gains, rejects looming crisis claim
At a BJP event, the finance minister said Rahul Gandhi was using Lok Sabha speeches to decry India's progress even during crises such as Covid-19 and West Asia
 "FM says Rahul Gandhi undermines India's gains, rejects looming crisis claim")