India needs to limit its reliance on multinational corporations (MNCs) for strategic audits and consulting in order to strengthen its economic sovereignty and achieve the goal of Atmanirbhar Bharat, the Ministry of Corporate Affairs (MCA) said in an office memorandum released on Wednesday.
The revised ceiling will be within the Rs 10 lakh mark.
Currently, deposits of up to Rs 5 lakh are covered under the deposit-insurance scheme.
Rajiv Kumar, the 25th chief election commissioner of India, has demitted office after a nearly three-year tenure marked by both electoral successes and allegations of bias from opposition parties. Kumar oversaw the 2024 Lok Sabha elections and the Jammu and Kashmir assembly polls, among other major elections. During his tenure, he implemented reforms across various aspects of the Election Commission's functioning, including structural, technological, capacity development, communication, international cooperation, and administration. However, he faced criticism from opposition parties and activists on several issues, including the efficacy of Electronic Voting Machines, alleged fudging of voter data, and being "lenient" on the ruling BJP. While the Commission responded to the allegations, Kumar often defended himself and the poll authority through poetry. In his farewell address, Kumar expressed concerns about the timing of petitions raising doubts over poll processes and the impact of freebie promises on the fiscal health of the state. He also criticized the practice of showing early trends on counting day by news channels, calling it "nonsense". Kumar's tenure was marked by numerous controversies, with opposition parties and activists alleging bias and irregularities. While the Election Commission defended its actions, the allegations cast a shadow over his time in office.
The government has approved the 'Terms of Reference' for the 16 Finance Commission, which makes recommendations on sharing of tax revenues between the Centre and states. The recommendations would cover a five-year period commencing April 1, 2026, Information and Broadcasting Minister Anurag Thakur said on Wednesday, giving details about the decisions taken at the Cabinet meeting last evening. The commission would submit its report by October 31, 2025, Thakur said.
The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.
Seek easing of asset classification guidelines for better credit flow.
Rajan has shifted from the conventional ground floor room occupied by CEAs to a room on the first floor, adjacent to Chidambaram's office.
R Gopalan has been appointed as Secretary Economic Affairs. He will hold this position, in addition to his current charge as Secretary Financial Services.
The central bank said its board of directors had approved the broad contours of the proposals.
The scheme calls for banks, refineries and hallmarking centres to work together.
Arundhati Bhattacharya is a strong contender for chairperson post, after Pratip Chaudhuri retires in September.
In the policy banks, the government can have 100 per cent stake, McKinsey said.
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Railway Board Chairman Arunendra Kumar said the discussions at the day-long meet involved an overview of five models of participative policy, framework of engineering, procurement and construction contracts and sectoral guidelines for foreign and domestic investment.
The Finance Ministry has asked top rung exectives of United bank of India to furnish bad loan recovery report on daily basis.
Budget is likely to focus on infrastructure creation in the N-E
It is possible that the final Budget architecture may be at variance with the comments.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
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