Page 18 - Finance Minister

RBI cuts repo, FM says slashed interest rate needs quick transmission

The three-month moratorium on payments of term loan instalments (EMI) and interest on working capital give much-desired relief, she added

Delay in regulatory leeway likely to prove costly affair for banks

With loan growth and asset quality likely to take a hit, FY21 earnings estimates are coming under the knife

The other casualty of Covid-19

COVID-19 will cause no less a disruption to the economy than the goods and services tax has done

Coronavirus outbreak: Govt mulls suspending IBC process for 6 months

The finance minister also announced a slew of measures to provide cushion to companies on compliances.

Costly delay

Hesitation in announcing a financial package is inexplicable

Coronavirus impact: FM offers relief measures, says bigger steps to follow

In a media briefing held through a video conference, Sitharaman also said that a larger economic package will be announced soon

Over 370 deaths in 5 years: How many more till manual scavenging ends?

Developing technology to eliminate human involvement in sewer cleaning in India is still in the nascent stages

Will take relook at GDP forecasts for FY20, FY21, but it's too early: CEA

"We clearly see a negative shock on the health side. Economically, there will be an impact"

PM Modi's coronavirus plan: Janata curfew, economic task force

"We are a developing nation and for a country like us, this corona crisis is not an ordinary thing," Modi said Thursday evening in an address to the nation, noting the pandemic had hit India's economy

Unjust tirade: Need for soul searching on the state of Indian economy

If the KYC norms are not followed strictly, toxic accounts could creep into the system

The curious case of an upset FM and an apologetic banker

Who recorded the private meeting of bankers with the finance minister and made it public? For what?

Govt hikes milling Copra MSP by Rs 439/qtl; ball Copra up by Rs 380/qtl

The government on Friday approved an increase in the minimum support price (MSP) of milling copra by Rs 439 per quintal and ball copra by Rs 380 per quintal as part of its effort to boost farmers income. The new MSP for milling copra for 2020 season will be Rs 9,960 per quintal and that of ball copra Rs 10,300 per quintal. The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval for the MSP for copra for 2020 season. Information & Broadcasting Minister Prakash Javadekar said India is number one in production and productivity of copra in the World. The production of copra is around 15 million tonnes. It is grown by 30 lakh farmers in 20 lakh hectares area. The MSP for Fair Average Quality (FAQ) of milling copra has been increased to Rs 9,960 per quintal for 2020 season from Rs 9,521 per quintal in 2019. The MSP for ball copra has been increased to Rs 10,300 per quintal for 2020 season from Rs 9,920 per quintal in 2019. This will ...

'Most of us don't know what happened': Yes Bank customers flock branches

Across branches, the busiest people were the relationship managers, trying to soothe nerves

FM Sitharaman seeks Parliament nod for Rs 54,000-cr additional spending

Finance Minister Nirmala Sitharaman presented the second and final batch of supplementary demands for grants in the Lok Sabha

FM on Chidambaram's YES jibe: Self-appointed doctors created more problems

Finance Minister Nirmala Sitharaman on Friday hit back at senior Congress leader P Chidambaram for his jibe over crisis-hit Yes Bank's loan book swelling five times under BJP rule, saying "self-appointed competent doctors" created more problems in handling crisis at three banks during the UPA regime. She blamed Chidambaram for the crisis at Global Trust Bank in July 2004 and the problems at IDBI which had to merge with on-the-verge of collapsing United Western Bank in 2006. The Congress-led UPA had come to power in May 2004 and Chidambaram was the finance minister. Addressing a press conference after the RBI superseded the board of Yes Bank and placed withdrawal restrictions, she said the crisis-hit lender's exposure to stressed corporates dates before 2014. "The exposure of Yes Bank to some of the very stressed corporates has been before 2014. These are public domain names and I am not violating any customer privacy Anil Ambani (Group), Essel Group, DHFL, IL&FS (and) Vodafone ...

RBI to look into what went wrong at Yes Bank, fix responsibilities: FM

On finding risky credit decisions, the RBI advised change in management, the Finance Minister said

Confident that Parliament will pass changes in Companies Act: FM

Earlier this weak, the cabinet approved 72 changes to the companies law as the government aims further improvement in the companies law

Par panel recommends creation of market intelligence cell for MSMEs

The panel also proposed multiple registrations with several government agencies for various purposes should be done away with for MSMEs

Vivaad Se Vishwas scheme to help save time, money in fighting disputes: FM

As many as 4.83 lakh direct tax cases worth Rs 9.32 lakh crore are locked up in various appellate forums such as Commissioner (Appeals), ITAT, High Courts, Supreme Court and Debt Recovery Tribunals

Centre plans to promote 250 new farmer-producer bodies in FY 2020-21

The Union Cabinet last week sanctioned Rs 6,868 crore for the new FPO scheme