Page 92 - Nirmala Sitharaman

Govt will set up a committee to review pension scheme: FM tells Parliament

Employees from several states have been demanding a change in the current pension system. Some states, including Rajasthan, Chhattisgarh, Jharkhand have already switched back to the old pension scheme

Budget session: Nirmala Sitharman to move Finance Bill 2023 today

Union Finance Minister Nirmala Sitharaman on Friday, will move the Finance Bill 2023, to give effect to the financial proposals of the central government

Ajay Banga tests positive for Covid-19 during routine testing in Delhi

World Bank presidential nominee Ajay Banga has tested positive for COVID-19 during routine testing in New Delhi where he was travelling on the last leg of his world tour, and is currently quarantining in isolation, the Department of Treasury said Thursday. India is witnessing a spike in influenza and coronavirus cases in the past two weeks. The country has recorded 1,134 new coronavirus cases, while the active cases increased to 7,026, according to Union Health Ministry data updated on Wednesday. Banga's New Delhi visit (March 23 and March 24) is the final stop on his three-week global tour that began in Africa before progressing to Europe, Latin America and Asia. During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic. In adherence with local guidelines, he is quarantining in isolation, the Department of Treasury said Thursday afternoon. While in India, 63-year-old Banga was scheduled to meet Prime Minister Narendra Modi as well as the Minister of

US pick for World Bank, Ajay Banga to meet PM Modi, Sitharaman in India

These discussions will focus on India's development priorities, the World Bank, and global economic development challenges, the Treasury said in a statement

Finance ministry asks public sector banks to share bond portfolio data

About 60 per cent of banks' investment book is in the HTM portfolio, analysts at Macquarie Research wrote

LIVE: Kejriwal supports Rahul, says it's conspiracy against non BJP leaders

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FM Sitharaman to review PSBs performance Sat amid financial crisis in West

Regularly scheduled meeting could discuss banking troubles in the US and Europe

FM Nirmala Sitharaman likely to meet CEOs of PSU Banks on Saturday

Finance minister Niramala Sitharaman is scheduled to meet managing directors of public sector banks (PSBs) on March 25 for performance review in the backdrop of failure of few banks in the US and liquidity crisis faced by Credit Suisse. The meeting is going to take stock of the progress made by banks in achieving targets set for the various government schemes, including Kisan Credit Card (KCC), Stand-Up India, Pradhan Mantri Mudra Yojana (PMMY), and emergency credit line guarantee scheme (ECLGS) to help businesses affected by Covid-19, according to sources. This is the first full review meeting after the presentation of Budget 2023-24 and banks would be asked to focus on the areas highlighted by the Budget including credit flow to productive sectors. The finance minister would review credit growth, asset quality, and capital raising and business growth plan of banks for next financial year, the sources said, adding non-performing assets (NPAs) of Rs 100 crore and the recovery status

No instructions given to banks on loading Rs 2,000 notes in ATMs: FM

No instructions have been given to banks for filling or not filling Rs 2,000 notes in Automated Teller Machines (ATMs) as lenders make their own choice for loading of cash vending machines, Parliament was informed on Monday. As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and Rs 2,000 denomination bank notes in circulation as at end-March 2017 and as at March-end 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore, Finance Minister Nirmala Sitharaman said in a written reply in Lok Sabha. "No instructions have been given to banks for not filling Rs 2,000 notes in ATMs. Banks make their own assessment of amount and denominational requirement for ATMs on the basis of past usage, consumer requirement, seasonal trend, etc," she said. Replying to another question, the finance minister said, total amount of the central government debt/liabilities is estimated at about Rs 155.8 lakh crore (57.3 per cent of GDP) as on March 31, 2023. Out of this, she sa

Comprehensive approach

India needs legislation on cryptos

Govt taking steps to make India $5 trn economy 'at an early date': FinMin

The government on Tuesday informed the Rajya Sabha that it is taking steps to make India a USD 5 trillion economy earlier than the International Monetary Fund's forecast year of 2026-27. The IMF's World Economic Outlook earlier said the size of the Indian economy will increase from USD 3.2 trillion in 2021-22 to USD 3.5 trillion in 2022-23 and cross USD 5 trillion in 2026-27. "The government has been taking steps to make the country a USD 5 trillion economy at an early date," Minister of State for Finance Pankaj Chaudhary said in a written reply to the Upper House. Observing that the outbreak of the COVID pandemic in 2020 and the Russia-Ukraine conflict in 2022 has impacted the world output, increased inflation in several countries and raised uncertainty in the world economy, he said, "lower uncertainty in the global economic outlook will help India become a USD 5 trillion-dollar economy earlier". Some of the important measures taken by the government in the past to boost economic

Sitharaman to present Supplementary Demands for Grants for J-K in RS today

Union Finance Minister Nirmala Sitharaman will today present Supplementary Demands for Grants in respect of the Union Territory of Jammu and Kashmir for 2022-23 in Rajya Sabha

E-rupee worth over Rs 130 crore in circulation: FM Nirmala Sitharaman

Nine banks, viz., State Bank of India, Bank of Baroda, Union Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Yes Bank, IDFC First Bank and HSBC

Sitharaman to present J-K budget in LS today as 2nd leg of session begins

Finance Minister Nirmala Sitharaman on Monday will present the budget for 2023-24 for the union territory of Jammu and Kashmir in the Lok Sabha

FM Sitharaman to table supplementary grant for J&K in Rajya Sabha

While Minister of State for Parliamentary Affairs V Muraleedharan will move a motion for appointment of members in the Public Accounts Committee and public sector undertakings

Sitharaman, Farrell discuss opportunities to deepen India-Australia ties

Union Finance Minister Nirmala Sitharaman on Friday discussed opportunities for deepening New Delhi-Canberra economic cooperation with Australian Trade and Tourism Minister Don Farrell

US Commerce Secy discusses areas of shared interest in meet with leadership

US Commerce Secretary Gina Raimondo discussed key areas of shared interests including the Indo-Pacific region in her meetings with the top Indian leadership including Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar and National Security Advisor Ajit Doval. Raimondo in her meeting with Doval, according to the Department of Commerce, discussed the US-India commercial relationship and "opportunities to deepen linkages between our economies". "They concurred on the importance of the inaugural meeting of the US-India initiative on Critical and Emerging Technology," the Commerce Department said, adding that they also discussed the upcoming US-India CEO Forum and US-India Commercial Dialogue meetings, which will help facilitate increased cooperation between the two governments and business communities across a variety of sectors. Raimondo discussed with all the Indian leaders the Indo-Pacific Economic Framework for Prosperity (IPEF) and the opportunities it ...

Govt may miss FY23 revised divestment target, says Bank of Baroda

"Of this, Rs 1.7 trillion can come from public sector enterprises and Rs 1.8 trillion from public sector financial institutions," the report stated

Sitharaman meets US Comm secy; discuss cooperation for trade, investment

Finance Minister Nirmala Sitharaman on Thursday met US Commerce Secretary Gina Raimondo to discuss India's G20 priorities and bilateral cooperation to further boost investment and trade. In a tweet, the Finance Ministry said Sitharaman and Raimondo also appreciated the substantial and multi-faceted India-US relations which are centred on strong economic and financial engagements. Raimondo is here for the India-US Commercial Dialogue and India-US CEO Forum meet on March 10 to discuss cooperation in various sectors that could unlock new trade and investment opportunities between the two countries. The two leaders also discussed India's G20 priorities and other issues of mutual interest. "During their deliberations, FM Smt. @nsitharaman and Secretary Ms. @SecRaimondo also exchanged views on enhancing #bilateral cooperation to further boost #investment and #trade in mutually agreed areas," the ministry tweeted. In a separate tweet, the ministry said Mastercard CEO Michael Miebach too

Sitharaman underplays lack of consensus on Ukraine at G20 ministers' meet

Addressing the Raisina Dialogue event, Sitharaman, while describing India as an attractive destination for global businesses, highlighted the rule of law among other factors as an important aspect