"finance-ministry"

Nepal has decided to shift government employee salaries from monthly to fortnightly payments, aiming to boost spending and economic circulation. The move, approved at ministerial level, may require legal changes under existing civil service laws before implementation

The Finance Ministry is considering raising foreign direct investment in public sector banks to 49 per cent to strengthen their capital base. Financial Services Secretary M Nagaraju said consultations are under way, while also highlighting plans for IDBI Bank sale and the need for big lenders

The Finance Ministry has introduced a new framework to standardise recruitment result timelines for public sector banks. Officer-level results will be declared first, followed by clerical exams, reducing attrition, enhancing transparency, and improving workforce planning across SBI, NBs, and RRBs

According to RBI data, Rs 2,000 denomination banknotes worth Rs 5,817 crore remain in circulation. Since their withdrawal announcement in May 2023, 98.37 per cent of the notes have been returned. The Rs 2,000 notes continue to be legal tender, the RBI clarified.

Gross GST collection rose 4.6 per cent year-on-year to Rs 1.96 lakh crore in October, driven by festive season demand despite rate cuts on 375 items. Domestic GST revenue grew 2 per cent, while imports contributed a 13 per cent surge in tax inflow

The Finance Ministry has urged central government employees to opt for the Unified Pension Scheme (UPS) before September 30, 2025. The Ministry highlighted benefits, tax incentives, and a one-time UPS-to-NPS switch facility for timely processing of requests

A senior Finance Ministry official was killed and his wife seriously injured after their motorcycle was hit by a BMW in Delhi. The accused couple allegedly insisted the victims be taken to a hospital 22 km away, delaying treatment and prompting negligence allegations

Deputy Secretary Navjot Singh of the Finance Ministry died after a BMW hit his motorcycle near Delhi Cantt; his wife was critically injured. Police filed FIR under BNS sections, probe underway.

With numbers rising from 6.48 crore in FY20 to 8.56 crore in FY25 officials attribute the surge to digitisation, policy reforms, and compliance measures

Nearly all Rs 2,000 banknotes have returned to the RBI, with only Rs 6,017 crore—just 1.69 per cent of the total value—still in circulation as of July 31, Finance Minister Pankaj Chaudhary informed Parliament. The withdrawal began in May 2023

The government has passed four key amendments to the Income Tax Act, effective FY26. These cover sovereign fund exemptions, block assessment reforms, correction of a standard deduction error, and tax parity for the Unified Pension Scheme with the National Pension System

The government has raised over Rs 35,000 crore in tax and penalty demands under the Black Money Act since 2015, but recovered only Rs 338 crore. No country-specific data is maintained, and 163 prosecutions have been filed till March 2025

Public sector banks will recruit around 50,000 personnel in FY25, including 21,000 officers. SBI alone plans 20,000 hires. Meanwhile, the Finance Ministry urged PSBs to prepare subsidiaries for future IPOs by enhancing governance and operational efficiency for better monetisation

UPS is applicable to the central government employees who are covered under the NPS and who choose this option under the NPS, which came into effect on January 1, 2004

Merchant Discount Rate is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. Finance Ministry’s clarification comes following reports that the government is planning to impose MDR on large-ticket UPI transactions

As per an advertisement notification issued by the IRDAI, the applicants should preferably have at least 30 years of relevant work experience, should have worked as secretary to the Government of India or its equivalent level or State government or other institutions

Move comes at a time when countries like Australia and Italy have shielded their official systems from Chinese AI platform

The fraudsters have used different e-mail addresses for sending the aforementioned fake e-mails with attachments.

New Tax Regime (Section 115BAC(1A)) Introduced in Finance Act 2023, Contrasts with Old Regime sans Exemptions

The Income Tax Department Gathers Financial Transaction Data from Various Sources.