finance ministry

Union Finance Ministry confirmed in Parliament that the Indian banking sector has formally proposed to declare all Saturdays as official bank holidays

Union Minister issues strong caution against cryptocurrency related financial crimes, highlights Binance and FTX as examples.

“Comprehensive measures have been taken by the Government and RBI to recover and to reduce NPAs, including those pertaining to corporate companies, which has enabled an aggregate recovery of Rs. 10,16,617 crore (RBI provisional data for FY 2022-23) by SCBs during the last nine financial years,” the written reply stated. 

The EPFO has increased interest rate to 8.15% and it will benefit over 6 crore subscribers in FY23. It has also asked filed offices to start crediting it into members' accounts.

The finance ministry announced that a ₹75 Commemorative Coin will be issued on the occasion of the Inauguration of the New Parliament Building

The abolition of rule 7 of the FEMA (CAT) Rules, 2000 means that credit card payments made while travelling abroad will attract 20% TCS

The finance ministry said that during Income tax survey at BBC offices in Delhi and Mumbai, several discrepancies were found

Gross GST revenue collected during December 2022 reached ₹1,49,507 crore, going up by 15% compared to December 2021

Finance Minister of India, Nirmala Sitharaman has been admitted to a private ward in the All India Institute of Medical Sciences (AIIMS) in Delhi.

Responding the media reports claiming that RBI is proposing to impose service charge on UPI, finance ministry said there is no such consideration