Page 30 - Finance Minister

FM seeks more participation from French financial institutions at GIFT City

Finance Minister Nirmala Sitharaman on Friday met French President Diplomatic Advisor Emmanuel Bonne and sought greater participation from French financial institutions and operations in the International Financial Services Centre (IFSC) at GIFT City. "They discussed approaches for further enhancing collaborative positions on climate actions, strengthening international financial institutions and addressing the debt vulnerability in low-and-middle-income countries," the finance ministry said in a post on X. Recognising the synergy between Indian UPI and French Targeted Instant Payment Settlement (TIPS), they explored avenues for closer financial integration, it said. "Finance Minister Smt. @nsitharaman encouraged greater participation from French financial institutions and corporations in pathbreaking initiatives and operations in IFSC at @GIFTCity," it said. Bonne is in the national capital ahead of the upcoming visit of French President Emmanuel Macaron as the chief guest for the

Parliament session from January 31, FM to present Interim Budget on Feb 1

Union Minister Pralhad Joshi said that the Interim Budget session will commence with President Droupadi Murmu addressing both Houses of Parliament

Direct listing of stocks at GIFT City soon, says FM Nirmala Sitharaman

Sitharaman also expressed that IFSC should become the platform for the trade of carbon credit

India growing rapidly, to be $30 trn economy by 2047: FM Sitharaman

Relationship between states and centre is of collaborative federalism, she says at Vibrant Gujarat Summit

Centre expected to maintain fiscal discipline in Interim Budget 2024

Interim budget likely to prioritise fiscal consolidation over populist spending, anticipating fiscal deficit at 4.5% of GDP by FY26

ED files fresh charge sheet before special court in Mahadev app case

The Enforcement Directorate has filed a fresh charge sheet before a special court in Raipur in a money laundering case investigation linked to alleged illegal betting and gaming through the Mahadev online book app, official sources said Thursday. The federal agency will share this second prosecution complaint (charge sheet) with authorities in Dubai to secure either the deportation or extradition of the two main promoters of the app-- Ravi Uppal and Sourabh Chandrakar, they said. The two were recently detained in Dubai on the basis of an Interpol red notice issued against them at the behest of the ED. The agency is understood to have shared the contents of the first charge sheet with the UAE authorities, on the basis of which a non-bailable warrant was secured against the two leading to issuance of the Interpol red notice (RN). The about 1,700-1,800 page fresh charge sheet was filed on January 1 and five accused, including alleged cash courier Aseem Das, police constable Bheem Singh

RBI's draft framework advocates for independent members in SRO boards

The struggle to get top-flight IDs on their boards found indirect mention in the first-of-its-kind interaction between the RBI's brass and the boards of state-run banks and private banks

NARCL, PSBs should work to expedite on-boarding of stressed accounts: FM

The Finance Minister, during the review meeting, also asked the banks to put more effort into recovery from accounts declared as fraud and wilful default while also monitoring early warning signals

Fiscal deficit for Apr-Nov narrows to 50.7% at Rs 9.07 trillion: Govt

Earlier this month, finance minister for state Bhagwat Karad said that the Centre was confident of meeting the fiscal deficit target of 5.9% in FY24

HM Amit Shah pays tribute to Arun Jaitley on his birth anniversary

Taking to social media platform, X, the Union Home Minister said that through his contributions to our social and political life, Arun Jaitley will always remain in our collective memory

RBI, Mumbai banks receive bomb threat demanding resignation of FM

Mumbai Police are investigating an email claiming bombs planted have been at 11 locations, calls for resignation of RBI governor and finance minister

FinMin to meet heads of PSBs on Sat; review implementation of govt schemes

Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on Saturday to review the financial performance of lenders. PSU banks have earned a net profit of about Rs 68,500 crore during the first six months of the current financial year. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Pradhan Mantri Jan Dhan Yojana (PMJDY), Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), sources said. This is the probably last full review meeting before the presentation of Budget 2024-25 and general elections later next year. She will also discuss on measures to improve customer service and cyber security, sources said. The finance minister would also review financial inclusion, credit growth, asset quality, and business growth plan of banks for the next financial year, the sources said, adding non-performing assets (NPAs) and the reco

31 people lost their lives in rain related incidents in TN: FM Sitharaman

As many as 31 people have lost their lives in the four districts in Tamil Nadu due to heavy rainfall, Union Finance Minister Nirmala Sitharaman said on Friday. The Centre has already released Rs 900 crore funds in two installments to be used in this financial year to Tamil Nadu, she said, addressing mediapersons here. Sitharaman said the Regional Meteorological Centre, Chennai has ultra-modern equipment including three dopplers and had forecast on December 12 itself that there would be heavy rainfall in the four districts - Tenkasi, Kanyakumari, Tirunelveli and Tuticorin on December 17. When such a massive disaster was taking place in Tamil Nadu, Chief Minister M K Stalin was in Delhi with the INDI Alliance, she said.

Budget Speech: All you need to know about the FM's address to Parliament

Here is everything you need to know about what a Budget speech ahead of the Union Budget 2024, the different parts it has, Budget at a Glance, Finance Bill, and more

The sanctity of an interim Budget

The Finance Minister's bold announcement of no big schemes on February 1 is commendable

Budget 2024: Here are 5 lesser-known facts about the Union Budget of India

The history of India's Union Budget over the years is a fascinating one. Here's a look at some lesser-known facts about the Union Budget

No 'spectacular announcements' in interim Budget, says FM Sitharaman

"Budget that will be announced will just be a vote on account because we will be in election mode, and elections will happen during the coming summer", the FM said

Finance Ministry holds a review meeting on large value fraud cases

During the review meeting, it was emphasised that all measures should be taken to further improve coordination between the CBI and banks for expeditious investigation

India's Q2 growth rate highest in world; fundamentals strong: FM Sitharaman

The finance minister also informed the Rajya Sabha that the manufacturing sector in India had registered its highest growth of 13.9 per cent in Q2FY24

Cabinet approves 'terms of reference' for 16th Finance Commission

Chairman, members to be appointed 'as soon as possible'; commission to submit report by Oct 31, 2025