FAQs regarding Central Government guarantee to back Security Receipts issued by NARCL for acquiring of stressed loan assets (MOF Press Release dated 16 Sept 2021)

What isNational Asset Reconstruction Company Limited (NARCL)? Who has set it up? NARCL has been incorporated under the Companies Act and has applied to Reserve Bank of India for license as an Asset Reconstruction Company (ARC). NARCL has been set up by banks to aggregate and consolidate stressed assets for their subsequent resolution. PSBs willContinue reading “FAQs regarding Central Government guarantee to back Security Receipts issued by NARCL for acquiring of stressed loan assets (MOF Press Release dated 16 Sept 2021)”

Know all about Account Aggregator Network- a financial data-sharing system (Ministry of Finance Press Release dated 10th Sept 2021)

Last week India unveiled the Account Aggregator (AA) network, a financial data-sharing system that could revolutionize investing and credit, giving millions of consumers greater access and control over their financial records and expanding the potential pool of customers for lenders and fintech companies. Account Aggregator empowers the individual with control over their personal financial data,Continue reading “Know all about Account Aggregator Network- a financial data-sharing system (Ministry of Finance Press Release dated 10th Sept 2021)”

Finance Minister Smt. Nirmala Sitharaman chairs 24th meeting of Financial Stability and Development Council

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today. The meeting was attended by Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V. Somanathan, Finance Secretary and Secretary, DepartmentContinue reading “Finance Minister Smt. Nirmala Sitharaman chairs 24th meeting of Financial Stability and Development Council”

PM releases a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji (PMO Press Release dated 01st Sept 2021)

PM releases a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji Srila Bhaktivedanta Swami Prabhupada Ji was also a great devotee of Bharat: PM It is our resolve that the world should benefit from our knowledge of Yoga and Ayurveda: PM Difficult to imagine the status andContinue reading “PM releases a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji (PMO Press Release dated 01st Sept 2021)”

Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0 in Mumbai

MOF Press release dated 25 Aug 2021 Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 – tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participatedContinue reading “Finance Minister unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0 in Mumbai”

Inviting applications to set up International Trade Financing Services Platform at GIFT IFSC

Ministry of Finance Press Release dated 24th July 2021 The International Financial Services Centres Authority (IFSCA) has been established as a unified regulator to develop and regulate financial products, financial services, and financial institutions in the International Financial Services Centres (IFSCs) in India. IFSCA vide circular dated 9th July 2021 issued the framework for setting upContinue reading “Inviting applications to set up International Trade Financing Services Platform at GIFT IFSC”

Finance Ministry meeting with Infosys on glitches in e-filing portal of Income Tax Department (MOF Press Release dated 23rd Aug 2021)

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman took a meeting with Mr. Salil Parekh, MD & CEO, Infosys here today afternoon to convey the deep disappointment and concerns of the Government and the taxpayers about the continuing glitches in the e-filing portal of the Income Tax Department even after two and halfContinue reading “Finance Ministry meeting with Infosys on glitches in e-filing portal of Income Tax Department (MOF Press Release dated 23rd Aug 2021)”

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to launch the National Monetisation Pipeline

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to launch the National Monetisation Pipeline tomorrow The National Monetisation Pipeline comprises a four-year pipeline of the Central Government’s brownfield infrastructure assets Posted Date:- Aug 22, 2021 Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman, will launch the National Monetisation Pipeline tomorrow atContinue reading “Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to launch the National Monetisation Pipeline”

Pilot Launch of International Bullion Exchange – The Gateway for Bullion Imports

Ministry of Finance Pilot Launch of International Bullion Exchange – The Gateway for Bullion Imports Posted Date:- Aug 18, 2021 Shri Injeti Srinivas, Chairperson, International Financial Services Centres Authority (IFSCA), launched the pilot run/soft launch here today. The International Bullion Exchange is scheduled to go live on October 1, 2021 the Foundation Day of IFSCA.Continue reading “Pilot Launch of International Bullion Exchange – The Gateway for Bullion Imports”

Measures taken to curb food inflation and alleviate problems of common man due to COVID-19

Ministry of Finance Press Release dated 10th Aug 2021 Measures taken to curb food inflation and alleviate problems of common man due to COVID-19 The Government is taking effective measures to curb inflation especially food inflation keeping in view of the condition of the people suffering from coronavirus pandemic situation in the country. This wasContinue reading “Measures taken to curb food inflation and alleviate problems of common man due to COVID-19”