Page 4 - Finance Minister

Flipkart executives meet ministers to discuss MSME push, India listing

CEO Kalyan Krishnamurthy and Rajneesh Kumar, chief corporate affairs officer, shared updates on digital commerce expansion, financial inclusion, and plans to redomicile ahead of a potential IPO

Nabard promotes 6,215 farmer producer organisations, says FM Sitharaman

National Bank for Agriculture and Rural Development (Nabard) has promoted the formation of 6,215 FPOs till date under various schemes, Parliament was informed on Monday. The major support provided to Farmer Producer Organisations (FPOs) includes formation of FPOs, capacity building, credit facilitation and market linkage support, financial literacy, etc, Finance Minister Nirmala Sitharaman said in Lok Sabha. In addition, she said, Nabard, in partnership with Small Farmers' Agri-Business Consortium (SFAC) and Open Network for Digital Commerce (ONDC), has conducted FPO Melas (TARANG-celebrating Collectivisation) at 50 locations across 24 states/UTs to demonstrate the products of FPOs/OFPOs to enable the marketing & branding of FPO products. She further said Nabard extends loan assistance to state governments for the creation of rural infrastructure through various funds, that is, Rural Infrastructure Development Fund (RIDF), Nabard Infrastructure Development Assistance (NIDA), Rural

Raising FDI in insurance aims to unlock sector's full potential: FM

Raising the FDI limit in insurance to 100 per cent will help the sector achieve its full potential by growing at 7.1 per cent per annum over the next 5 years, outpacing the global growth, Finance Minister Nirmala Sitharaman informed Parliament on Monday. The finance minister in Union Budget 2025-26 had proposed to raise the limit of foreign investment in insurance sector from the existing 74 per cent to 100 per cent. Raising the limit will eliminate the need for foreign investors to find Indian partners for the remaining 26 per cent, easing the process of setting up their operations in India, effectively increasing the number of insurers in the country, she said in a written reply to Lok Sabha. This will attract stable and sustained foreign investment, increase competition, facilitate technology transfer, and improve insurance penetration in the country, she said. The decision to increase FDI component in a particular insurance company is made by its promoters, depending upon vario

Over 31,500 govt employees opt for UPS till July 20, says FM Sitharaman

As many as 31,555 central government employees have opted for the Unified Pension Scheme (UPS) till July 20, and the last date to enrol under the scheme is September, Parliament was informed on Monday. In a written reply in the Lok Sabha, Finance Minister Nirmala Sitharaman said as on July 20, 2025, at least 7,253 claims have been received and out of which 4,978 claims have been processed for payment of benefits under UPS. From April 1, 2025, the government has introduced UPS as an option under the National Pension System (NPS) for the central government employees. UPS will provide assured payouts to the employees. In reply to a separate question in the House, Minister of State for Finance Pankaj Chaudhary said, "as on July 20, 2025, 31,555 employees have opted UPS". Further, Sitharaman said based on the representations from employees and associations, the cut-off date to opt for UPS was extended for a period of three months up to September 30, 2025. "As per eligibility criteria,

A World in Flux: Sitharaman flags need to reshape institutions for present

At the launch of 'A World in Flux', Finance Minister Nirmala Sitharaman said multilateral institutions are now in limbo and stressed the urgent need to reshape them for today's rapidly evolving world

FM Sitharaman flays tax officials, says OGE issuance delays 'unpardonable'

On Income Tax Day, FM Nirmala Sitharaman urges decisive action on pending tax cases, refunds, and grievance redress, calling for accountability and timely implementation

Delhi to receive Rs 600 cr Central funds under special assistance scheme

Delhi Chief Minister Rekha Gupta said the funds will be used to accelerate development projects across the city

From educator to minister, FM Nirmala Sitharaman opens up on her journey

Finance Minister Nirmala Sitharaman, in a candid conversation in Shillong, reflects on her journey in education, personal values, North East development, and governance

Pilot stage of internship scheme ending soon: FM Nirmala Sitharaman

Sitharaman said that India was a country going through a decade or more of demographic dividend

FM Sitharaman hails Meghalaya's growth, praises full use of SASCI funds

Union Finance Minister Nirmala Sitharaman on Friday praised Meghalaya's progress under Chief Minister Conrad K. Sangma, calling the state a model of effective and purposeful development. She highlighted the state's exemplary utilisation of its entire allocation of Rs 5,400 crore under the Special Assistance to States for Capital Investment (SASCI), setting an example for other states to follow. Speaking at a programme, Sitharaman said, "While some states are unable to fully utilise their shares, Meghalaya has effectively used its entire allocation to build capital assets. I will put on record my appreciation of Meghalaya's efforts." She reaffirmed the Centre's commitment to the Northeastern region, adding, "The government looks at the region as one to empower, act, strengthen and transform." The FM also pointed out key development achievements in the state, including the construction of over 540 km of roads and a five-fold increase in optical fibre coverage since 2014. She praised

Globalisation must be tempered to local needs: FM Nirmala Sitharaman

Finance Minister Nirmala Sitharaman calls for globalisation that aligns with local requirements, emphasising humanism and ethical practices at the IICA North East Conclave in Shillong

NBFC credit should reach 50% of SCBs' volume by 2047: FM Nirmala Sitharman

The finance minister further said that financial inclusion cannot be used as a pretext for "financial exploitation"

Centre withholding funds for schemes, depriving people: J'khand FinMin

Jharkhand Finance Minister Radha Krishna Kishore on Monday accused the Centre of withholding funds for several schemes, depriving people of the benefits of the initiatives. He claimed that the BJP was spreading lies that the Jharkhand government was not providing the benefits of the schemes to the people. "The central government has withheld funds for several schemes and is not providing its share. Due to this, people are not able to get benefits of various schemes such as old-age pension. I urge the Centre to release the funds," Kishore told reporters after a 'Janta Darbar' at the Congress headquarters in Ranchi. As many as 49 cases were brought before the finance minister at the 'Janta Darbar', with most being related to electricity, road construction, land dispute, pond renovation and social welfare schemes. "The government will not tolerate negligence in work, and officials must complete public tasks on time. The practice of making people unnecessarily run around offices and ..

Global South should act collectively on key economic challenges: Sitharaman

Finance Minister Nirmala Sitharaman on Friday emphasised the need for decisive collective action by the Global South to deal with multiple uncertainties arising out of fiscal constraints in several economies and evolving geopolitical dynamics. She was speaking at the Annual Meeting of Board Governors of the New Development Bank (NDB) at Rio De Janeiro, Brazil on 'Driving Development: Fostering Innovation, Cooperation, and Impact through a Multilateral Development Bank for the Global South'. Sitharaman said the meeting is taking place at a defining moment for the Global South, as the world grapples with multiple uncertainties arising from fiscal constraints in several economies, climate transition issues and evolving geopolitical dynamics. "In response to these challenges, our collective action must be decisive, inclusive, and forward-looking," she said. The New Development Bank (NDB) has been established by BRICS nations. She noted that MDBs play a pivotal role in complementing ou

NDB mandate must focus on agility, tech and sustainable growth: Sitharaman

Finance Minister Nirmala Sitharaman on Friday said in today's fast changing world, the mandate for New Development Bank (NDB) must be renewed with focus on greater agility, technological advancement and efficiency. Observing that NDB has played an important role in reshaping the financial landscape for the global South, she said, it has approved more than 100 projects, and it has approved more than USD 35 billion in financing across member countries, including key Indian initiatives like the metro rail, renewable energy and water management. NDB is not just a source of capital, it is a platform for shaping a more equitable and responsive global financial architecture, she said during the NDB Governors Seminar on the theme 'Challenges for Financing Sustainable Development for the Global South' in Rio de Janeiro, Brazil. "In today's fast changing world, its mandate must be renewed. The NDB's mandate must be renewed with focus on greater agility, technological advancement and efficienc

SBI's digital transformation immensely benefited customers: FM Sitharaman

Digital transformation undertaken by the State Bank of India (SBI) in the last decade has been immensely beneficial to its customers, Finance Minister Nirmala Sitharaman said on Tuesday. Congratulating SBI on completing 70 years of service to the nation, she expressed hope that the Bank will continue to innovate and empower as India continues its journey towards 'Viksit Bharat' by 2047. "With over 23,000 branches, 78,000 Customer Service Points (CSPs) and 64,000 ATMs, SBI's footprint today is formidable and it is truly the Banker to every Indian. The digital transformation it has achieved in the last decade has been immensely beneficial to its customers," Sitharaman said in a post on X. SBI has been instrumental in supporting 1.5 crore farmers, 1.3 crore Self-Help Groups (SHGs) led by women, 32 lakh street vendors under PM SVANidhi, 23 lakh MSMEs, and lakhs of artisans across various schemes, she said. SBI has over 15 crore Jan Dhan Accounts, 14.65 crore PM Suraksha Bima Yojana, 1.

FM Sitharaman to embark on six-day visit to Spain, Portugal and Brazil

During her June 30-July 5 visit, the finance minister would attend the fourth International Conference on Financing for Development (FFD4) organised by the United Nations

Govt urges state-run banks to boost lending amid economic growth push

Financial Services secretary M. Nagaraju said banks were also urged to boost credit to small businesses and improve deposit mobilisation, following a review meeting chaired by FM Nirmala Sitharaman

IBPS allowed to use Aadhaar to verify candidates in bank exams

The move aims to reduce impersonation, simplify identity checks, and bolster trust in bank recruitment, aligning with recent Aadhaar-based steps by the SSC

FTAs with US, EU soon; exporters to get full govt backing: Sitharaman

Finance Minister says trade deals with US and EU near finalisation as she assures Indian exporters of full support amid global slowdown and volatile trade conditions