Finance Ministry | The Asian Age

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Fund infusion into PSBs not sufficient to support lending growth: Fitch

Fitch estimates that banks will need an additional USD 23 billion (around Rs 1.6 lakh crore) in 2019.

27 Feb 2019 1:03 PM

MFIN members constitute 50 NBFC-MFIs and collectively they disbursed Rs 19,919 crore in October-December to 77 lakh accounts. (Representational image)

Microfinance industry posts 43 per centh growth in Q3 FY'19

Microfinance Institutions Network (MFIN) is an RBI recognised self-regulatory organisation and industry association.

25 Feb 2019 5:32 PM

MFIs loan book clips past 43 per cent to Rs 1.66 tln in Q3

Total numbers of microfinance accounts were at 8.91 crore as of December 2018.

25 Feb 2019 4:57 PM

Corporation Bank is the biggest beneficiary of this round of capital infusion with Rs 9,086 crore of funding, followed by Allahabad Bank with Rs 6,896 crore.

Finmin expects 3-4 more banks to come out of RBI's PCA framework this year

Bad loans of public sector banks declining by over Rs 23,860 crore in the first half of the current fiscal.

24 Feb 2019 3:16 PM

Niti Aayog bats for setting up independent debt management office

At present, the government debt, including market borrowing, is managed by the Reserve Bank of India.

22 Feb 2019 1:52 PM

All members of the CBT of EPFO at a meeting here agreed to give a higher interest for subscribers.

EPFO finalises 8.65 per cent interest for 2018-19: Gangwar

The interest rate is credited into the subscribers account after the Finance Ministry's approval.

21 Feb 2019 5:05 PM

The recovery is expected to touch Rs 1.80 lakh crore by March 2019 with some of the resolutions at the final stage, Financial Services Secretary Rajiv Kumar said. (Photo: ANI | Twiiter)

Finmin expects NPA recovery of Rs 1.80 lakh crore in FY19

So far, banks have recovered Rs 1 lakh crore under the Insolvency and Bankruptcy Code (IBC).

21 Feb 2019 10:01 AM

Financial Services Secretary Rajiv Kumar said that the government will infuse Rs 9,086 crore in Corporation Bank and Rs 6,896 crore in Allahabad Bank -- the two "better-performing" banks currently under the Prompt Corrective Action (PCA) supervision of the RBI. (Photo: File)

Govt announces Rs 48,239 cr recapitalisation plan for 12 PSBs

The government will pump in Rs 12,535 crore in four other banks under PCA.

20 Feb 2019 5:38 PM

Secretary in Department of Investment and Public Asset Management (DIPAM) Atanu Chakraborty had earlier said DIPAM would conduct a study to provide risk-free investment option to retail investors in the form of sector-specific ETFs. (Photo: AFP/Representational)

Govt may launch exchange traded fund of PSU bank stocks next fiscal

The government has raised Rs 32,900 crore through Bharat-22 ETF since 2017, and Rs 28,500 crore from CPSE ETF since 2014.

19 Feb 2019 5:07 PM

IL&FS is sitting on a debt pile of about Rs 91,000 crore. (Photo: Twitter)

Par panel for setting up enquiry commission into IL&FS crisis

Debt crisis in infrastructure lender IL&FS came to light following a series of defaults by its group companies beginning September 2018.

14 Feb 2019 1:56 PM

Total authorisation aggregating to Rs 1,156.80 crore without obtaining approval of Parliament, as per the report.

Finmin spent Rs 1,157 cr extra in 2017-18 without obtaining prior approval: CAG

The Department of Economic Affairs under finance ministry failed to obtain legislative approval for augmenting provision.

12 Feb 2019 2:53 PM

Kelkar has suggested that the Niti Aayog can be more effective if it is empowered to be part of the highest decision-making in the government.

Dilli Ka Babu: A new Niti Aayog?

The think tank does not have powers to allocate funds and can only make recommendations to the government.

10 Feb 2019 1:20 AM

Although Jaitley was away from India in the past few weeks, he has remained active on Twitter and was regular with his blog posts. (Photo: File)

Delighted to be back home: Arun Jaitley returns to India after treatment

Jaitley, who is currently minister without portfolio, underwent renal transplant last year at the AIIMS here.

09 Feb 2019 4:36 PM

According to a study by US-based think-tank Global Financial Integrity (GFI), an estimated USD 770 billion in black money entered India during 2005-2014.

Can't disclose black money reports as Par Panel examining them: Finance Ministry

Nearly USD 165 bn in illicit money exited the country during the same period, the latest report by the global financial watchdog.

04 Feb 2019 1:40 PM

The budget for the Ministry of External Affairs has increased from Rs 15,011 to 16,061. (Photo: Representational photo)

Budget 2019: MEA gets an allocation of Rs 16,061 crores

The total aid to countries stands at Rs 6,447 crores - up from last year's budget of Rs 5,545 crores.

01 Feb 2019 4:44 PM

Deferring fertilisers subsidy payment may allow finance minister Piyush Goyal some elbowroom for offering a farm package for the stressed agriculture sector.

Govt may hold back Q4 fertiliser subsidy to meet fiscal deficit goal

The subsidy payment through special banking arrangement attracts interest liability for the government.

31 Jan 2019 10:10 AM

There was speculation earlier in political circles that, contray to tradition, the Narendra Modi government may present a full-fledged Budget on Friday.

Budget to be ‘interim’ one, says Finance Ministry

The last Budget of this government is likely to be presented in the Lok Sabha by interim finance minister Piyush Goyal.

31 Jan 2019 6:03 AM

Interim Finance Minister Piyush Goyal. (Photo: File)

Goyal to present interim Budget 2019-20 on Feb 1

The last Budget of the present NDA government is likely to be presented by interim Finance Minister Piyush Goyal in the Lok Sabha.

30 Jan 2019 5:35 PM

The government has not commented on his medical condition. (Photo: File)

Arun Jaitley in good health, recovering rapidly: Piyush Goyal

Jaitley, who ran the finance ministry, would not be presenting the interim budget on February 1.

25 Jan 2019 12:56 PM

This for the second time that Goyal has been given the additional charge of the Finance Ministry. (Photo: File)

Piyush Goyal gets additional charge of Finance Ministry, may present Budget

The ruling BJP has recently appointed Jaitley as in-charge of publicity for the upcoming Lok Sabha elections.

24 Jan 2019 10:51 AM

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Sunil Gatade