Page 90 - Nirmala Sitharaman

Sitharaman, Japanese counterpart to announce Sri Lanka debt restructuring

Union Finance Minister Nirmala Sitharaman will join her Japanese counterpart and a senior French finance ministry official in Washington on Thursday to announce Sri Lanka's debt restructuring negotiations process, the IMF has announced. The finance ministers of the three creditor countries will hold a press briefing on the margins of the annual Spring Meetings of the World Bank and the International Monetary Fund (IMF) in Washington. "Japan, India, and France on Thursday will hold a press briefing on the margins of the Spring meetings to announce the launch of the debt restructuring negotiations process on Sri Lanka," IMF said on Tuesday, quoting a Japanese Finance Ministry statement. The three creditor countries have been working closely for a coordinated debt restructuring for Sri Lanka, the statement said. Japanese finance minister Shunichi Suzuki and France's Director General of the Treasury Emmanuel Moulin will join Sitharaman during the press briefing. Sri Lankan President R

Sitharaman participates in roundtable on 'Investing in the India Decade'

Finance Minister Nirmala Sitharaman on Tuesday (local time) participated in a roundtable on "Investing in the India Decade" organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) and US-India Strategic Partnership Forum (USISP) on the sidelines of the Spring Meetings of the IMF and World Bank.During the roundtable, FM Sitharaman underlined the reality of a global acknowledgement of "New India" and the renewed role India is poised to play in the global economic order, besides India as an investment destination going forward into "Amrit Kaal," said the Ministry of Finance.She emphasised that despite the reality of resetting across the globe and the challenges posed by the COVID-19 Pandemic, India's reform momentum remains unabated.Ambassador of India to the US, Taranjit Singh Sandhu also participated in the roundtable."Investing in the India decade! Pleasure to participate with Finance Minister @nsitharaman for an Executive Roundtable with @USISPF & ..

Sitharaman, Gita Gopinath meet in US, both discuss debt vulnerabilities

Union Finance Minister Nirmala Sitharaman on Tuesday had a meeting with Gita Gopinath, the First Deputy Managing Director of the International Monetary Fund (IMF), during which they discussed debt vulnerabilities and other issues. Sitharaman is leading a high-powered Indian delegation to attend the annual Spring Meeting of the IMF and the World Bank. Sitharaman congratulated Gopinath for accelerating India's work on the Global Sovereign Debt Roundtable along with the World Bank and reiterated India's commitment to foster efforts to address growing debt vulnerabilities, the finance ministry said in a tweet after the meeting. During the meeting, the finance minister noted IMF's concerns on key downside risks to the economy including financial sector stress, rising real interest rates, elevated debt, inflation, geo-political fragmentation, and faltering growth in China, as highlighted in World Economic Outlook World Economy Outlook. Gopinath congratulated the minister on the fruitful

Sitharaman, Yellen discuss strengthening India-US economic partnership

Finance Minister Nirmala Sitharaman on Tuesday met with US Treasury Secretary Janet Yellen on the sidelines of the World Bank and IMF Spring Meetings 2023 in Washington.The two leaders discussed strengthening the India-US economic and financial partnership and increasing engagements at bilateral and multilateral forums."Union Finance Minister Smt. @nsitharaman met with the United States Treasury Secretary Ms.@SecYellen on the sidelines of the @WorldBank and IMF #SpringMeetings 2023, in Washington D.C., today," tweeted the Ministry of Finance.Taking the discussions ahead from their last meeting in November 22 during the Economic Financial Dialogue (EFD), in India, the two leaders discussed strengthening the India-US economic and financial partnership and increasing engagements at bilateral and multilateral forums."Wide-ranging conversation between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen on deepening bilateral economic partnership and engagement in ...

Indian economy today is transparent, open: Sitharaman to US biz community

The Indian economy today is transparent, open and watchable, Union Finance Minister Nirmala Sitharaman told the American business community on Tuesday making a strong pitch before them to come and invest in India and be part of the country's amazing growth story. Addressing a luncheon meeting of the US-India Strategic and Partnership Forum, Sitharaman told representatives of the top US companies that these are results of the pathbreaking and futuristic reforms, including digitisation being undertaken by Prime Minister Narendra Modi in the last nine years. Digitisation has had an immense impact on the Indian economy, bringing transparency, Sitharaman said. Earlier, nearly 40 per cent of the Indian economy was grey. Today, the government has incentivised many of these transactions, if it is digital, you get concessions and then onboarded people onto the digital system. Now, the Indian economy is not small, (it is) transparent, open, watchable if you want to use that word. With all t

FM Sitharaman meets Yellen; discusses strengthening India-US economic ties

Finance Minister Nirmala Sitharaman Tuesday met with US Treasury Secretary Janet Yellen here and the two leaders discussed strengthening the India-US economic and financial partnership and increasing engagements at bilateral and multilateral forums. Sitharaman, who is leading a high-powered delegation, met Yellen on the sidelines of the World Bank and IMF Spring Meetings 2023 here. "Taking the discussions ahead from their last meeting during the Economic Financial Dialogue #EFD, in India, in Nov. '22, the two leaders discussed strengthening the India-US economic & financial partnership and increasing engagements at bilateral and multilateral forums," the finance ministry said in a series of tweets. Sitharaman appreciated the multi-faceted India-US partnership and called for further cooperation in addressing global economic challenges, including climate change. She also highlighted the role of G20, QUAD and IPEF in fostering this partnership. She "also emphasised the importance of .

India at helm, G20 eyes common plan on crypto risks: FM Nirmala Sitharaman

Sitharaman is currently visiting the US. Her visit started Tuesday, and she will be there for a week. She will be attending spring meetings and a G20 finance ministers' meeting

Cryptocurrency to FTA: Nirmala Sitharaman discusses range of issues in US

Sitharaman said that the World Trade Organisation (WTO) needs to be more progressive and must give space to countries that have something different to say

Sitharaman gives detailed rebuttal of negative perception of India in West

Union Finance Minister Nirmala Sitharaman on Monday (local time) gave a befitting reply to the negative Western 'perception' of India at the Peterson Institute for International Economics (PIIE)

LIVE: SBI likely to raise $2 bn via offshore funds, board to meet on Apr18

Catch live updates from across the globe here

FM Nirmala Sitharaman arrives in Washington to attend IMF, WB meetings

Finance Minister Nirmala Sitharaman arrived here to attend the annual spring meetings of the IMF and the World Bank and lead the G-20 countries in a series of intense interactions over a host of issues facing the world. Sitharaman, who is leading a high-powered delegation, is scheduled to kick off her public engagements on Monday from the prestigious Peterson Institute for International Economics by speaking on resilience and growth of the Indian economy and interacting with the think-tank community. Among key engagements of the finance minister here include, spring Meetings of International Monetary Fund and the World Bank; hosting the Second G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under India's G20 Presidency and G20-related side events; World Bank Development Committee and IMF Committee Plenaries, interaction with global economists and think-tanks, bilateral engagements and interaction with global business leaders and investors in roundtables. Sitharaman

Banks sanction Rs 23.2 trn to about 400 mn beneficiaries under Mudra Yojana

Banks and financial institutions have sanctioned Rs 23.2 lakh crore to over 40.82 crore beneficiaries under the Mudra Yojana since its launch in 2015. Pradhan Mantri MUDRA Yojana (PMMY) was launched on April 8, 2015, by Prime Minister Narendra Modi to facilitate easy collateral-free micro-credit of up to Rs 10 lakh to non-corporate, non-farm small and micro-entrepreneurs for income-generating activities. Loans under PMMY are provided by Member Lending Institutions (MLIs) -- banks, non-banking financial companies (NBFCs), microfinance institutions (MFIs) and other financial intermediaries, the finance ministry said in a statement on Saturday. "#PMMudraYojana has played a vital role in funding the unfunded and ensuring a life of dignity as well as prosperity for countless Indians. Today, as we mark #8YearsOfMudraYojana, I salute the entrepreneurial zeal of all those who benefitted from it and became wealth creators," Prime Minister Narendra Modi said in a tweet. Speaking on the occas

FM Nirmala Sitharaman to attend Spring Meetings of IMF-World Bank

She will also participate in G20 Finance Ministers and Central Bank Governors meetings

FM to embark on US tour from Monday, to attend World Bank Group, IMF meets

She will also be attending the G20 meetings and other associated meetings, which are scheduled to take place from April 10 to April 16

Consumer rights body asks Finance Minister to probe biz activities of Rario

The Consumer Online Foundation has written to Finance Minister Nirmala Sitharaman to investigate the business activities of company Rario and its compliance with Indian taxation laws

Panel to review pension scheme: Difference between NPS and OPS explained

The government has announced setting up of a four-member committee to review the National Pension Scheme (NPS)

Inflation kept at 6% or below despite adverse circumstances, says FM

Union Finance Minister Nirmala Sitharaman on Thursday said the inflation has been kept at six per cent or below despite adverse circumstances as a result of the Covid-19 pandemic and the Russia-Ukraine conflict. Price rise is a matter on which the Centre is very sensitive and responsive, she said. Sitharaman said the pandemic and the conflict had a bearing on the prices of commodities which India import, adding that the government has taken measures including giving subsidies. Will you compare the situation prevailing everywhere, particularly after COVID, particularly after Russia and Ukraine war? The (prices of) commodities we import are all sky-rocketing. They are not produced in India. We totally import. Is that price rise mine? But that price hits me. And there, I have to give support, the Minister said. Even in this adverse circumstances inflation has been kept at six per cent or below. There are times it goes up. Then we work together with RBI and say please control it, ...

More than Rs 40,700 crore sanctioned under Stand-Up India Scheme in 7 years

The scheme aims to promote entrepreneurship at the grassroot level focusing on economic empowerment and job creation and has been extended up to the year 2025

India has robust commercial systems giving confidence to investors: FM

FM Nirmala Sitharaman said that it is now agreed during the negotiations of bilateral trade treaties that India has a better robust commercial system giving investors the confidence they need

Government asks state-run banks to conduct more robust stress tests

The matter was reviewed at a March 25 meeting of the bank leaders with Finance Minister Nirmala Sitharaman, who met to discuss progress of a reform agenda for the lenders