The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
A quick assessment of the ground reality will tell you that it is a reflection of the finance ministry's mistaken faith in factors beyond its control.
Diktat to four general insurance companies says 'avoid competition' in any corporate or group account
'To encourage the habit of saving, a portion of the incentive will be kept in a savings instrument of deposit account for a fixed period and can be withdrawn by the employee at a later date.'
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
Cabinet approves Khelo Bharat Niti, says it will bring India into top-5 of world sports
PMO joint secretary Subrahmanyam to play a key ro#8804 full-time finance minister likely before October
A court in New Delhi on Saturday granted bail to Gaganpreet Kaur, the key accused in the BMW incident, saying the accident's CCTV footage showed the allegation of culpable homicide was on a 'fragile foundation'.
Exit polls show the Bharatiya Janata Party-led National Democratic Alliance is set to form the government after votes are counted on Friday.
Prime Minister Narendra Modi conveyed to Ukrainian President Volodymyr Zelenskyy that India remains committed to making every possible contribution for an early and peaceful solution to the conflict. Zelenskyy sought India's support in limiting Russian energy exports.
Finance Minister Nirmala Sitharaman is cutting short her official visit to the US and Peru and will depart for India at the earliest, following the terror attack in Jammu and Kashmir. Sitharaman arrived in the US on Sunday for a six-day visit, after which she was scheduled to travel to Peru for a five-day trip. The decision comes after 26 people were killed in a terror attack near Kashmir's Pahalgam town on Tuesday.
The time taken by the income-tax department to process refunds has dropped sharply from 93 days in 2013.
The department believes dividend from CPSUs is a return on investment made by the government.
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
The appointment, expected shortly, will come in the backdrop of tax expert Parthasarathy Shome recently resigning from the post of adviser to Finance Minister P Chidambaram.
'Big Week For #USIndia Law Enforcement Collaboration'
Reserve Bank has expressed dissent at the finance ministry panel's suggestion on allowing foreign institutional investors to issue Participatory Notes and allowing them to take exposure in India's debt instruments.
As finance ministry officials remained glued to news flashes on the LCD screens in their rooms, others were constantly monitoring news on the web. The support staff got its share of the news feed by keeping a close watch on politicians visiting North Block, reports Vrishti Beniwal
The newly appointed Union Finance Minister Pranab Mukherjee took charge of his new office in north block, returning to it after a gap of 24 years. The Finance Ministry office, which has been sealed off to outsiders and particularly prying journalists with the vote-on-account preparations in full swing, was on Thursday opened up at 4 p.m. when the media was invited in to cover the taking over ceremony.
The Sixteenth Finance Commission Chairman, Arvind Panagariya, has highlighted the challenges faced by southern states due to falling fertility rates and the subsequent increase in dependency ratios and ageing populations. He noted that Andhra Pradesh, Assam, and Tamil Nadu have raised concerns about these demographic trends. The Commission is currently touring the states to gather feedback and is expected to submit its recommendations after completing nationwide consultations.
The government hopes the latest action will lead to banks also lowering the cost of borrowing for corporate and individual borrowers.
The MPC states that the 4 external members will have a tenure of four years each.
The latest annual report of the finance ministry has disclosed that the agency funded seven projects worth USD 750 million in 2023-24.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
'The larger and more opaque this shadow economy becomes, especially online, the greater the risk to India's national security.'
From the Sensex pack, Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra and Eternal were major laggards. However, Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent and Tata Consultancy Services were among the gainers.
The stress of dealing with the crisis, often with potentially conflicting objectives in front of them, appears to have brought the differences between the finance ministry and the RBI back to the surface.
Benchmark stock indices Sensex and Nifty declined on Monday, extending the losing run to the fourth day amid selling in IT shares and foreign fund outflows. The 30-share BSE Sensex dropped by 247.01 points or 0.30 per cent to settle at 82,253.46. During the day, it fell 490.09 points or 0.59 per cent to 82,010.38 but recovered some of the losses towards the close.
In the past 10 years, over 500 PSB officers have died by suicide. When targets are overwhelming, senior management and customers are both impatient, and there is constant fear, not every banker has the resilience to survive and thrive, warns Tamal Bandyopadhyay.
MeitY is in discussions with global Fortune 500 and Fortune 1000 companies, mid-tier firms, and state government officials on a three-pronged approach to setting up new GCCs in India.
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
Re-entry into the list could have far-reaching consequences for Pakistan, including diminished foreign investment, increased borrowing costs, and tighter scrutiny from global financial institutions.
Patel emphasised that one of the most important features of the bill is the establishment of a dedicated tribunal for resolving disputes, reducing the burden on the judiciary and ensuring quicker justice.
The Congress party in India has accused the government of "impropriety" in the sudden termination of KV Subramanian's position as India's executive director at the IMF, alleging it was linked to the Union Bank of India's purchase of two lakh copies of his book. The party also questioned the government's stance on Pakistan's request for a loan from the IMF.
After the merger of regional rural banks (RRBs) under the "One State, One RRB" policy to improve their efficiency and minimise competition among public-sector banks (PSBs) that sponsor them, the government is planning to list at least five RRBs by the end of financial year 2026-27 (FY27). After the latest amalgamation that came into effect on May 1, there are 28 RRBs in 26 states and two Union Territories (UTs), with more than 22,000 branches covering 700 districts.
