Page 11 - Harsh Kumar

FinMin to hold high-level talks on 'One State, One RRB' execution on May 6

On April 7, the Union government released a gazette notification announcing the amalgamation of several RRBs, effective from May 1, 2025

FinMin sets Rs 17.31 trillion MSME lending target for PSBs in FY26

MSME lending target for PSBs raised 19.5%

Online travel platform EaseMyTrip denies association with Mahadev app

ED conducted searches at online travel portal's premises

Aviation ministry seeks FinMin help to boost aircraft leasing at GIFT City

It has also raised concern over slow progress in developing aircraft leasing in India

ED attaches Aamby Valley land worth Rs 1,460 crore in Sahara case

This land was purchased in benami names with funds diverted from Sahara group entities

PSBs red flag technical glitches in implementing PM Vidyalaxmi scheme

Among the key issues highlighted are persistent technical glitches, including repeated login failures due to server-level errors and frequent auto logouts from the portal

Centre to revamp guidelines for Ratna CPSEs to improve performance

CPSEs could be downgraded if performance worsens

Vishwakarma scheme faces challenges with loan approval rate at just 28%

While a total of 13.93 lakh loan applications were submitted to PSBs, only 3.9 lakh were approved, highlighting a significant gap in the disbursement process

FM Nirmala Sitharaman urges Austrian firms to harness India opportunity

Lays out priority areas like digital tech, infra, RE among others to enhance ties

DIPAM to urge mutual funds to include PSU stocks in their portfolios

To promote inclusivity and enhance the Indian equity market for retail investors, the government also plans to advocate for greater accountability in private sector regarding dividend distributions

Cargo rush as full US President Trump tariffs take effect on Wednesday

According to the US executive order, the tariffs will take effect at 12.01 am Eastern Daylight Time, or around 9.30 am Indian Standard Time

DPE-Dipam merger may be completed in 6 months to streamline operations

The official further explained that the government's new approach to CPSEs has evolved

Finance ministry notifies form ITR-B to report undisclosed income

Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income

Five-day banking week proposal unlikely to be implemented in FY26

The official further explained that such a change could negatively impact banking services, particularly on Saturdays, which remains a critical day for many customers to complete their banking txns

Govt announces 'One State, One RRB' implementation from May 1, 2025

The new structure is aimed at improving the efficiency of the RRBs and minimising competition among the public sector banks that sponsor them, as part of FinMin's "One State, One RRB" policy

Vegetarian thali costs decline by 3% in March amid falling tomato prices

Vegetable prices remained subdued in March, with those of onion, potato and tomato declining month-on-month due to fresh arrivals

Average Mudra loan size down in Kishore category, up in Shishu segment

Tarun segment also sees an increase in ticket size

Finance ministry asks banks to work on deposit mobilisation strategies

The meeting was chaired by the Department of Financial Services (DFS) Secretary M Nagaraju with the PSB chiefs and select private sector banks

No fee for updating nominees in PPF accounts: FM Nirmala Sitharaman

Previously, it had been reported that financial institutions were charging a fee for updating or modifying nominee details in PPF accounts

Assocham urges RBI to hold rates, advises 'wait and watch' approach

Assocham president Sanjay Nayar emphasised that the RBI has already injected liquidity into the market through various measures