Finance

ADB to fund Uttarakhand water & sanitation projects

The Government of India and the Asian Development Bank (ADB) today signed a $125 million loan to improve access to safe and affordable drinking water supply and citywide inclusive sanitation services in Dehradun and Nainital cities in the state of Uttarakhand. […]

Finance

New Exchange rate notification

The Central Board of Indirect Taxes and Customs hereby has determined the rate of exchange of conversion of the foreign currencies for the purpose of the said section, relating to imported and export goods. […]

Finance

GST collection for Nov 21 crosses 1.3 Lakh Crore

The gross GST revenue collected in the month of November 2021 is ₹ 1,31,526 crore of which CGST is ₹ 23,978 crore, SGST is ₹ 31,127 crore, IGST is ₹ 66,815 crore (including ₹ 32,165 crore collected on import of goods) and Cess is ₹ 9,606 crore (including ₹ 653 crore collected on import of goods). […]

Finance

ADB to fund $300Million for Primary Health Care

The Government of India and the Asian Development Bank (ADB) yesterday signed a $300 million loan to strengthen and improve access to comprehensive primary health care in urban areas of 13 states that will benefit over 256 million urban dwellers including 51 million from slum areas. […]

Finance

Currency Exchange Rates Released

The Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies for the purpose of the said section, relating to imported and export goods. […]

Finance

New Forex Rates w.e.f. 4 Nov 21

The Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of foreign currencies for the purpose of the said section, relating to imported and export goods. […]

Finance

$4.5 million project readiness financing for Mizo

he Government of India and the Asian Development Bank today signed a $4.5 million project readiness financing (PRF) loan to support project preparation and design activities to improve urban mobility in Aizawl, the capital city of the northeastern state of Mizoram. […]

Finance

IFSCA’s Global FinTech Hackathon Series held on Bank Tech

International Financial Services Centres Authority (IFSCA) and GIFT City launched I-Sprint’21, the global FinTech Hackathon Series of IFSCA on 7th October 2021 at 11.30 AM IST. The first Sprint of the series “Sprint01: BankTech” is focussed on FinTechs for the Banking sector. […]

Finance

Government approves Rs. 4,400 crore investment in ECGC

Government approves Rs. 4,400 crore investment in ECGC Ltd. in 5 years to provide support to exporters as well as banks; Capital Infusion and planned IPO to increase ECGC’s underwriting capacity up to ₹88,000 crore and propel additional exports of Rs. 5.28 lakh crore over a five-year period […]

Finance

India Post with LICHFL to offer Home Loans

India Post Payments Bank (IPPB) under Department of Posts, Ministry of Communications and LIC Housing Finance Ltd (LICHFL), the country’s premier housing finance player, today announced a strategic partnership for providing home loan products to over 4.5 crore customers of IPPB. […]

Finance

Finance Minister chairs 2nd BRICS Finance Ministers and Central Bank Governors Meeting

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman virtually chaired the second meeting of BRICS Finance Ministers and Central Bank Governors (FMCBG) along with Governor Reserve Bank of India, Shri Shaktikanta Das under Indian BRICS Chairship here today. This meeting is scheduled ahead of the BRICS Leaders’ Summit 2021 to discuss and finalise key outcomes of BRICS finance agenda this year. Finance Ministers and Central Bank Governors of Brazil, Russia, China and South Africa were in attendance. […]

Finance

Know all about e-RUPI, the new digital payment instrument

Shri Narendra Modi on August 2nd launched the digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country […]

Finance

Scheme for Pharmaceuticals estimated to generate a potential of Rs 1,96,000 crore in export

The Government has approved the Production Linked Incentive Scheme for Pharmaceuticals on 24.02.2021 which was notified in the Gazette on 03.03.2021. The Operational Guidelines containing the details of the scheme on each aspect and the process of making applications were issued on 01.06.2021. […]

Finance

IFSCA to setup International Trade Finance Services

IFSCA has issued a framework for Setting up and operating International Trade Finance Services Platform (‘ITFS’) for providing Trade Finance Services at International Financial Services Centres (‘IFSCs’). The framework will enable Exporters and Importers to avail various types of trade finance facilities at competitive terms […]

Finance

India-UK hold Financial Market dialogue

India and the United Kingdom (UK) held the inaugural meeting of the India-UK Financial Markets Dialogue (‘the Dialogue’) virtually late evening yesterday. The Dialogue was established at the 10th Economic and Financial Dialogue (EFD) in October 2020 to deepen bilateral ties in the financial sector. […]

Finance

Cabinet approves MoU between ICAI and ACCA,UK

The Union Cabinet has approved the Memorandum of Understanding (MoU) between Institute of Cost Accountants of India (ICoAl) and the Association of Chartered Certified Accountants (ACCA), United Kingdom (UK), will provide mutual advanced entry to the Members of both the Institutes through exemptions […]

Finance

India joins OECD/G20 Inclusive Framework tax deal

Majority of the members OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting(including India) adopted yesterday a high-level statement containing an outline of a consensus solution to address the tax challenges arising from the digitalisation of the economy. […]