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The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

Govt collects Rs 7.41 lakh cr from GST in FY18

The average monthly collection has been Rs 89,885 crore during the August-March period.

27 April 2018 12:04 PM IST

Reserve Bank of India (RBI) on Thursday directed all payment system operators in India to store data within the country.

Govt to soon acquire RBI's stake in National Housing Bank

The stake transfer would be cash neutral and there would be no cash outgo, sources said.

26 April 2018 3:17 PM IST

India has the potential to innovate on the lines of Silicon Valley but it needs to do more for expanding the innovation ecosystem as it aspires to become a middle income country, World Bank India head Junaid Kamal Ahmad said today.

India signs USD 210 million loan pact with World Bank

The project will cover 10,510 km stretch of rural roads in Madhya Pradesh that fall under the CMGSY programme.

24 April 2018 4:32 PM IST

The government on Tuesday said the electoral bonds, which are used to make anonymous political donations, carry a serial number as part of in built security feature.

3rd tranche of electoral bonds sale from May 1: Finance ministry

Electoral bonds are being pitched as an alternative to cash donations made to political parties.

24 April 2018 4:16 PM IST

The daily change in prices of petrol and diesel across the country follows the success of a pilot implementation in five cities.

Finance ministry not for cut in excise duty on petrol, diesel

Petrol price on Monday hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75.

23 April 2018 3:38 PM IST

Punjab National Bank today said money of customers is safe and asserted that there would be zero tolerance towards unethical practices.

Finance ministry hopeful of PNB rebounding in Q1

The ministry is keeping a tight watch on the bank's performance so as not to let the bank slip into further mess.

23 April 2018 12:19 PM IST

Global ratings agency Fitch on Monday said it is doubtful about the strength of corporate governance at ICICI Bank, amid allegations of impropriety against its MD and Chief Executive Officer Chanda Kochhar.

Govt may ask ICICI Bank tough questions on governance issues

Finance ministry wants to know why Chanda didn't recuse herself in Videocon loan case.

23 April 2018 8:44 AM IST

Pradhan Mantri Jan Dhan Yojana was launched in August 2014 to increase banking penetration and promote financial inclusion in the country.

Deposits in Jan Dhan accounts cross Rs 80,000 crore

India's financial inclusion efforts have won recognition from the World Bank.

22 April 2018 1:56 PM IST

Scheme will provide an assured pension based on a guaranteed rate of return of 8 per cent per annum for ten years.

PFRDA makes bank account, number mandatory for NPS subscribers

PFRDA takes various initiatives from time to time in order to simplify and improve the operational issues in National...

20 April 2018 3:16 PM IST

Disinvestment-bound Air India has approached aviation regulator DGCA for renewal of its flying permit, expiring in June.

Entities with sufficient funds, ability to run Air India can bid:...

Bidder who buys Air India would have to stay invested in the airline for at least three years.

19 April 2018 12:51 PM IST

Banning of letters of undertaking (LoUs) and letters of comfort (LoCs) by the RBI as trade finance instruments is likely to reduce financial flexibility of importers, a Fitch group company said on Wednesday.

Rise in 1-day defaults worries RBI, defends revised norms

RBI's tough posture comes even as the finance ministry has been pitching for scrapping of this key norm.

19 April 2018 8:56 AM IST

The government on Tuesday said the electoral bonds, which are used to make anonymous political donations, carry a serial number as part of in built security feature.

Electoral Bonds have serial numbers but are not accessible to anyone

Electoral bonds, which are used to make anonymous political donations, carry a serial number as part of in built...

17 April 2018 7:00 PM IST