Petrol price today hit a 55-month high of Rs 74.50 a litre, while diesel rates touched a record Rs 65.75, renewing calls for a cut in excise duty to ease the burden on consumers.
The body has written to Reserve Bank Governor Urjit Patel and finance ministry seeking reintroduction of the crucial trade finance instruments
The government had last month floated a preliminary information memorandum inviting bidders to buy 76 per cent stake in loss-making Air India along with transfer of management control.
Fraudulent LoUs of the state-owned PNB were used by diamantaire Nirav Modi and his associates to defraud the bank of about Rs 13,000 crore.
In a note issued yesterday, the Finance Ministry said the educational concession will continue without the cap of Rs 10,000 per month.
The Union Ministry of Finance on Friday said more than 87 crore bank accounts have been linked with the 12-digit unique identity number Aadhaar in the country till early March. The deadline for linking Aadhaar to bank accounts is March 31.
The 3rd quarter growth of 7.2% was highest in 5 quarters. The previous high was recorded at 7.5% in the July-September quarter of 2016-17. In the first quarter of the current fiscal, the GDP grew at 5.7%, while the second quarter growth stood at 6.5%
This Bill also has a provision to confiscate assets of the offender in foreign land as well, for which the government will have to make arrangements with different countries.
In a directive to Managing Directors (MDs) of all public-sector banks, the finance ministry has asked them to detect bank frauds and consequential wilful default in time and refer such cases to CBI.
Executive Directors and chief technology officers (CTOs) of PSBs have been asked to prepare a blueprint to enhance preparedness for combating increasing risks, Financial Services Secretary Rajiv Kumar said in a tweet.
The list, prepared by Financial Intelligence Unit (FIU-IND), includes NBFCs found non-compliant to the Prevention of Money Laundering Act (PMLA) rules as on January 31.
The bonds will be sold at main branches of SBI in four metro cities -- New Delhi, Mumbai, Kolkata and Chennai.
The statement from RBI comes hours after Finance Minister Arun Jaitley said that the PNB scam was a result of a failure of management and auditors.
The clarification comes amid reports that banks could take a hit of more than $3 billion from loans and corporate guarantees provided to jewellery designer Nirav Modi and Gitanjali Group of Companies.
PNB has detected a USD 1.77 billion (about Rs 11,400 crore) scam where billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking from a branch in Mumbai to secure overseas credit from other Indian lenders.
As part of divestment of public sector entities, the government has proposed in the Budget to merge National Insurance Company, United India Insurance and Oriental Insurance Company into one and subsequently list the new entity on stock exchanges.
Collections under the GST, implemented from July 1 last year, were over Rs 95,000 crore for the first month, while in August the figure was just over Rs 91,000 crore.
On July 1 last year, the government had issued an order saying the assistance under the scheme cannot exceed Rs 10,000 per month, triggering widespread discontent among all the three services.
Alleging that the country's economy was limping under the NDA rule, he said the government would contribute a new word to the Oxford English dictionary -- "jumla" (gimmick).
The government's plans to spend Rs 2.11 lakh crore to recapitalise PSBs in a major step to restore the banking system's health.
Top News
Latest News
