Page 14 - Finance Ministry

Govt not keen on India's inclusion in global bond indices: FinMin official

Finance ministry official says not engaged in dialogue regarding it

PSBs asked to expedite recruitment, fill vacancies in time-bound manner

The finance ministry has asked public sector banks (PSBs) to expedite the process of filling pending vacancies, sources said. The ministry had reviewed the vacancies in PSBs earlier this month and advised them to take action to fill them. Finance Minister Nirmala Sitharaman on Tuesday had directed PSBs to fill the backlog vacancies of Scheduled Castes (SCs) in a time-bound manner. The total employees strength of PSBs peaked at 8.86 lakh during 2012-13. It declined to 7.80 lakh during 2020-21. Banks have started issuing advertisements for recruitment. The country's biggest lender State Bank of India (SBI) has issued advertisements for recruitment of 1,673 probationary officers. Of this, 1,600 are regular vacancies while 73 are backlog cases. Due to COVID-19, the recruitment process got impacted and as a result there are some backlogs which will be filled in due course of time, a senior PSB official said. Besides, Central Bank of India has issued advertisements seeking applications

Depleting forex reserves making India vulnerable? Not really, say experts

At the current rate, the reserves may provide cover for eight months of imports in FY23. Four months could be considered a danger mark

Top Headlines: FinMin won't exhaust forex for rupee; govt extends PMGKAY

Amid fast-depleting forex reserves, the Finance Ministry signalled that it was not in favour of selling the dollar to defend any particular level of the rupee

FinMin opposed extension of PMGKAY a day ahead of Cabinet approval

Office memorandum flagged fiscal concerns due to impact of Ukraine war on fuel prices. With Covid-19 having largely subsided, reasons for which earlier extensions were given no more seem to hold

DESH Bill likely to be reworked after finance ministry raises concern

The Bill, which will replace the SEZ law, is facing hurdles due to lack of consensus between the commerce and finance ministries

Amid falling staff strength, PSBs may soon start hiring on a monthly basis

From a peak of 886,490 in 2012-13, staff strength in state-owned banks fell to 770,800 in 2020-21

Enhance coverage of scheduled castes in all schemes: FM Nirmala Sitharaman

The FM was chairing the performance review of PSBs on credit and other welfare schemes for scheduled castes

Decoded: What are green bonds and how much will be the govt issue?

Green bonds are debt instruments the proceeds of which are utilised to finance projects that are beneficial to the environment

Govt bans mapping and export of sensitive locations under data regime

The central government has released a list of economic and national security-related strategic and sensitive locations that cannot be mapped and exported

Govt making efforts to keep inflation under 4%: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. Addressing a press conference near Pune city on the sidelines of a programme, she said steps were being taken to keep inflation at a certain level. Replying to a question on rising prices, the minister said, "As far as inflation is concerned, I have been answering questions (on the issue) in Parliament every time they have been raised. Steps were being taken to keep inflation at one level, for example, duty on imported edible oil is being removed so that affordable oil comes into the country." She said the issue of inflation should be understood in global context. "America is experiencing the kind of high inflation which was not witnessed in the last 40 years. Germany is facing high inflation which was not experienced in the last 38 years. We are taking efforts to ..

Rational expectations: Downside risks to growth are increasing

The economy's resilience will be tested in the second half of the year and beyond

Google asks loan apps to display link to partner bank, NBFC: Report

Google also said that the digital lending apps that fail to comply with the rules, will be deleted from the Google Play Store

Govt may retain or cut bond borrowings for current fiscal on robust revenue

India may keep its market borrowing plan for the financial year intact, with a recent uptick in revenues likely to lead to a discussion on whether the target can be reduced

Fate of world's biggest free food programme rests in PM Modi's hands

PM Modi will soon decide whether to extend a food dole out that has cost India $44 billion since the pandemic, or ease the strain on government finances and food supply

Centre seeks hiring plan after public banks see dip in staff strength

In the last 10 years, the number of branches of PSBs across the country have gone up, but staff strength has fallen

FinMin calls meeting of PSB chiefs on Sep 21 to take stock of vacancies

The finance ministry would review vacant positions and monthly recruitment plan of public sector banks (PSBs) and financial institutions in a meeting on Wednesday, sources said. The meeting would also review the procurement of banks and financial institutions through the Government e-Marketplace (GeM) portal. The meeting, to be chaired by Financial Services Secretary Sanjay Malhotra, will be attended by top management of banks and financial institutions through virtual mode, the sources said. Besides, there would be discussion on preparedness on 'Special Campaign 2.0'. The campaign during the period October 2-31, 2022 would focus on cleanliness (swachhata) and other issues. During the period, various pendency cases like MPs' references and state government references etc will be reduced.

Currency internationalisation: India pushes for rupee trade with Cuba

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

Govt working on GST on crypto transactions, defining legal framework

The government is working on a comprehensive indirect tax regime for crypto assets which will check revenue loss to the exchequer

Healthy revenue buoyancy expected for rest of the year: Finance Ministry

The Monthly Economic Report states that India is in a better position to calibrate liquidity levels without stalling growth