Finance - general
ED attaches Sterling Biotech assets worth Rs9,778 cr in bank fraud case
27 Jun 2019
Promoters of Sterling Biotech diverted loan funds for non-mandated purposes, layered and laundered through a web of multiple domestic as well as offshore entities, siphoned off loan funds to finance their Nigerian oil business, and even used these for their personal purposes, the ED stated
RBI wants all payment system data to be stored within the country
27 Jun 2019
While there is no bar on processing of payment transactions outside India, if so desired by the payment system operators (PSOs), RBI said such data should be deleted there and brought back to India within 24 hours
RBI panel recommends handholding of MSMEs
26 Jun 2019
The committee wants the government to make it mandatory for PSUs/government departments to procure the mandated 25 per cent from MSEs through the GeM portal and further develop the portal as a full-fledged market place for MSE sellers
Govt claims success with its banking sector reforms
26 Jun 2019
Asset quality of banks has greatly improved, which is reflected in 45 per cent year-on-year reduction in slippage into non-performing assets (NPAs) in FY 2018-19, and 63 per cent reduction in 31 to 90 days overdue corporate accounts by March 2019 from their peak level in June 2017, says the finance ministry
RBI Dy governor Viral Acharya resigns 6 months before term ends
24 Jun 2019
Although Acharya has not announced his plans yet, since the timing of his resignation coincides with the start of academic term in the US, he must probably be returning to academia
Single GST return form from January 2020
24 Jun 2019
RBI panel suggests doubling Mudra loan ceiling for MSMEs to Rs20 lakh
19 Jun 2019
The revised loan limits would be applicable to more units once the government approves the proposal for a turnover-based criteria that has been set at Rs5 crore for micro units, up to Rs75 crore for small units and up to Rs250 crore for medium enterprises
New GST return system to be introduced in phases
12 Jun 2019
Anil Ambani claims his group paid Rs35,000 cr to lenders in 14 months
11 Jun 2019
Ambani said the repayments were made in the face of heavy odds as regulatory bodies and courts are yet to pass final orders on claims aggregating to over Rs30,000 crore that are due for more than 5-10 years to various group companies
RBI removes charges on RTGS/NEFT transactions in digital push
07 Jun 2019
While the charges for NEFT are in the range of Re1 to Rs5, and that for RTGS are between Rs5 and Rs50, the move is expected to attract more participants
RBI panel suggests deepening the digital payments ecosystem
04 Jun 2019
The committee, headed by Nandan Nilekani, has suggested that the government take the lead in digitisation of payments besides an increased focus on low value high volume low-cost transactions to achieve a ten-fold increase in digital payment volumes
GSTN unveils draft of new GST return form
23 May 2019
British Steel falls into liquidation after failing to secure funding
22 May 2019
British Steel has already secured government loan of around 120 million pounds ($154 million) and the only option for the government is to take over the business
RBI to create specialised supervisory department
22 May 2019
The merger of its supervisory departments to form a specialised cadre is aimed at strengthening the supervision and regulation of commercial banks, urban cooperative banks and non-banking financial companies
IDFC First Bank reports Rs218-cr Q4 net loss
13 May 2019
Finance panel, bankers discuss credit rating of states
09 May 2019
In the context of horizontal devolution of union taxes among states, bankers said, fiscal discipline, transparency, governance improvements and revenue raising efforts should be factored in appropriately for credit rating of states
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