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FinMin Releases Rs. 8,453.92 Cr Health Sector Grant To 19 States

Meanwhile, health grants to the remaining 9 States will be released after their proposals are received from the respective States through the Ministry of Health and Family Welfare, the ministry informed.

FinMin To Start Process For Appointment Of MD, DMDs Of Rs 20K-Cr NaBFID

BW Online Bureau

Companies & Markets

The DFI will remain outside the purview of CAG, CVC and CBI, a move aimed at enabling faster decision-making.

Finance Ministry Invites Suggestions On Taxation From Industry And Trade Bodies

BW Online Bureau

Companies & Markets

The request for correction of inverted duty structure, if any for a commodity, should necessarily be supported by value addition at each stage of manufacturing of the commodity

FinMin Issues Uniform Staff Accountability Framework To Protect Bonafide Decisions Of Bankers

BW Online Bureau

Banking & Finance

Banks have been advised to revise their staff accountability policies based on these broad guidelines and frame the procedures with approval of the respective boards

FinMin Sets Up Selection Committee For Officers' Promotion

BW Online Bureau

National

With a view to strengthening the feeder cadre pool for the Whole-Time Directors (WTDs) i.e. highest level below the Board level who are eligible for appointment as WTDs in the Financial Institutions.

FinTech Bank, Not Yet!

Srinath Sridharan

Opinion Columns

A look at the lending sector landscape of banks and non-banks, including digital entities, and the pressures that the stakeholders operate in. The market and investors alike would keenly watch the regulator’s mind in allowing FinTechs to become banks or own stakes in banks. To allow for better regulated sector, are we ready for SRO concept for the lending sector ?

Dearness Allowance Hike To 31% Effective From July 1: FinMin

BW Online Bureau

Companies & Markets

The decision will benefit about 47.14 lakh central government employees and 68.62 lakh pensioners.

FM Nirmala Sitharaman Holds Meeting With UK Foreign Secy, Discussed Ways To Enhance Biz Ties

BW Online Bureau

Companies & Markets

"Finance Minister Smt. @nsitharaman cited the close collaboration between the two countries, strengthened through Comprehensive Strategy Partnership adopted by the Prime Ministers of India and UK in May 2021,"

FinMin To Seek Cabinet Nod For Setting Up Of Firm To Monetise Land Assets Of Privatisation-Bound CPSEs

BW Online Bureau

Companies & Markets

There are some CPSEs for strategic disinvestment and "we feel certain portion of land is not really worth going with the company and those assets could be monetised"

Over 2 Cr ITR Filed On Income Tax Department E-portal: FinMin

BW Online Bureau

Economy

Meanwhile, all Income Tax Returns (ITR) have been made available for e-filing. More than 2 crore ITRs for AY 2021-22 have been filed on the portal, of which ITRs 1 and 4 constitute 86 per cent.

Delhi GST Officers Busts Fictitious Exporter Network For Rs 134 Cr ITC Fraud

BW Online Bureau

Companies & Markets

The Finance Ministry said that based on risk analysis, M/s Vibe Tradex, engaged in export of Pan Masala, chewing tobacco, FMCG goods etc, was identified for scrutiny.

Economic Recovery Showing Positive Sign, Witnessing Growth In Sectors: FinMin

BW Online Bureau

Economy

Apart from the external sector, the merchandise exports crossed the $30 billion mark for the sixth consecutive month in Fiscal Year (FY) 2021-22.

FinMin Releases Revenue Deficit Grant Of Rs. 9,871 Cr To 17 States

BW Online Bureau

Economy

With the release of this installment, a total amount of Rs. 69,097.00 crore has been released to eligible states as PDRD in the current Financial Year (FY), the ministry informed.