Union finance minister Nirmala Sitharaman on July 24 told Parliament that the government has instructed all banks, both public and private, to not take harsh steps when it comes to processing of loan repayments.

Union finance minister Nirmala Sitharaman on July 24 told Parliament that the government has instructed all banks, both public and private, to not take harsh steps when it comes to processing of loan

Sitharaman's Move: The End of Ruthless Loan Recovery?

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Sourabh Chandrakar, one of the main promoters of the Mahadev betting app, is expected to be brought to India soon following his recent formal arrest in Dubai on the basis of an Interpol issued arrest warrant in a money laundering and fraud case, official sources said Friday.
Chandrakar along with another promoter of the app, Ravi Uppal was detained in that country late last year following the ED's request for issuance of a Red Notice (RN) against them.
Sources said Chandrakar is expected to be either extradited or deported to India over the next few days after he was formally placed under arrest in Dubai recently.
The ED has alleged that its probe in the Mahadev Online Book (MOB) gaming and betting app has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, the state where Chandrakar and Uppal hail from.
MOB app, as per the federal agency, is an umbrella syndicate arranging online platforms for enabling illegal betting websites to enrol new user

The ED has arrested a total of 11 people in this case till now. Two charge sheets have also been filed by the agency till now, including against the two promoters

Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal.
Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said.
The employees of the PSUs lacking allowable surplus will be paid a bonus of 8.33 per cent and an ex-gratia of 1.67 per cent.
"The Tamil Nadu chief minister on October 10 ordered payment of bonus and ex-gratia to a total of 2,75,670 workers of state PSUs ahead of the festive (Diwali) season," the release said, and added that the move would entail the government an expenditure of Rs 369.65 crore.
The workers and employees of TANGEDCO, state transport undertakings, Tamil Nadu Civil Supplies Corporation, and Cooperative Milk Producers' Federation will be paid 20 per cent

Tamil Nadu Water Supply and Drainage Board employees will be paid a bonus at 8.33 per cent and the Civil Supplies Corporation workers will be paid an ex-gratia of Rs 3,000

The finance ministry will commence from October 10 its pre-Budget meetings with review of six ministries and departments, including new & renewable energy and skill development & entrepreneurship.
The meetings, which will continue through November 11, are being held to firm up budgetary allocations for 2025-26 and finalise the revised estimates for the current fiscal year.
On the last day, Ministry of Railway and Department of Health and Family Welfare will be discussed.
The Union Budget 2025-26 is expected to focus on reforms to further accelerate growth and implement measures to boost job creation and economic demand.
"Pre-budget meetings chaired by Secretary (Expenditure) shall commence in the second week of October 2024. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 7, 2024," the Budget circular 2025-26 issued by Department of Economic Affairs said.
It will be the second ...

The meetings, which will continue through November 11, are being held to firm up budgetary allocations for 2025-26 and finalise the revised estimates for the current fiscal year

The finance ministry will commence the exercise to prepare the annual budget for 2025-26 from the second week of next month in the backdrop of the Indian economy recording 7 per cent growth rate for the fourth consecutive year.
The budget for the next financial year would focus on reforms to be pushed to further accelerate growth momentum and measures to generate jobs and boost demand in the economy.
"Pre-budget meetings chaired by Secretary (Expenditure) shall commence in the second week of October 2024. Financial Advisers shall ensure that necessary details...are properly entered in UBIS (Union Budget Information System) before/latest by October 7, 2024," Budget circular 2025-26 issued by the Department of Economic Affairs said.
Hard copies of the data in the specified formats should be submitted for cross-verification, it said.
It will be the second budget of the Modi 3.0 government and 8th straight Budget for Finance Minister Nirmala Sitharaman, a rare distinction in Indian ...

Pre-budget meeting shall commence from second week of October, 2024 and shall continue till around mid-November, 2024, it said

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Sitharaman's Move: The End of Ruthless Loan Recovery?

Union finance minister Nirmala Sitharaman on July 24 told Parliament that the government has instructed all banks, both public and private, to not take harsh steps when it comes to processing of loan repayments.

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