New Delhi, July 27 (IANS) The Finance Ministry informed Parliament on Monday that the government has approved the Reserve Bank of India’s (RBI) proposal to conduct field trials of polymer currency notes in the Rs 10 and Rs 20 denominations.The approval was confirmed by Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Lok Sabha.The government, however, clarified that the move does not signal the end of paper currency. Polymer banknotes are proposed to circula…
Latest Finance Ministry News & Updates
New Delhi, July 25 (IANS) The Directorate of Revenue Intelligence (DRI) has seized more than 27 kg of foreign-origin smuggled gold and arrested 12 people in a series of intelligence-led operations conducted across the country, according to an official statement on Saturday.According to a statement issued by the Finance Ministry, the week-long crackdown uncovered gold concealed inside aircraft lavatories, specially fabricated cavities in vehicles and utensils, as well as on the bodies of passenge…
New Delhi, July 21 (IANS) The total number of accounts in Pradhan Mantri Jan Dhan Yojana (PMJDY) for the poor has gone up to 58.63 crore, with deposits exceeding Rs 3.08 lakh crore as on July 1, 2026, reflecting the success of the scheme launched to promote financial inclusion in the country, according to a Finance Ministry statement tabled in Parliament on Tuesday. Out of these, 32.68 crore (55.74 pc) Jan Dhan accounts belong to women, while about 45.62 crore (77.80 pc) have been opened in rura…
New Delhi, July 20 (IANS) State-owned Life Insurance Corporation of India (LIC) has Rs 7,318.5 crore in unclaimed funds as of March 31, 2026, the Finance Ministry informed Parliament on Monday. In a written reply to a question in Parliament, the ministry said the accumulated amount includes Rs 5,564.5 crore of unclaimed policyholder money and Rs 1,753.95 crore as accrued income generated on those funds.Separately, the government clarified that the Employees’ Provident Fund Organisation (EPFO) …
New Delhi, July 16 (IANS) The Centre has raised windfall taxes on exports of diesel and aviation turbine fuel (ATF) while lowering the levy on petrol exports, as surging global oil prices driven by the escalating US-Iran conflict boosted refining margins, with the revised rates taking effect from Thursday.According to a Finance Ministry notification, the export duty on diesel has been increased to Rs 15.5 per litre from Rs 8.5 per litre, while the levy on aviation turbine fuel has been raised to…
Mumbai, July 15 (IANS) NCP(SP) working president and MP, Supriya Sule, on Wednesday categorically dismissed intense media speculation suggesting that the party would support the Central Government’s upcoming Delimitation Bill in the Monsoon Session of Parliament. Terming the rumours entirely baseless, Sule clarified that the party has not received any proposal or “deal” regarding the Bill, adding that they would study the draft and declare their official stance within 24 hours of its tabling.Add…
Seoul, July 15 (IANS) South Korean President Lee Jae Myung stressed the need for reform and innovation in carrying out policy tasks at government ministries and agencies Wednesday, saying the remainder of his five-year term may be more important in achieving his policy goals. The president made the remarks as he began receiving briefings from all government ministries and agencies to review progress in the implementation of their policy tasks.On the first day of the policy briefings, Lee receive…
New Delhi, July 7 (IANS) The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has issued 4,11,497 guarantees since its launch, with the guaranteed amount reaching Rs 1,55,229 crore — a sign of the scheme’s rapid absorption across the lending ecosystem, the government said on Tuesday.The scheme, approved by Union Cabinet on May 5, 2026, is delivering fast, large-scale liquidity support to businesses affected by the West Asia geopolitical situation.The scheme is designed to provide risk mitiga…
New Delhi, July 5 (IANS) The India-UK Comprehensive Economic and Trade Agreement (CETA), set to come into force on July 15, provides duty-free access for 99 per cent of India’s exports to the UK.According to the latest notification from Finance Ministry that set out the rules, a product will qualify as originating in India or the UK if it is wholly obtained in either country, produced entirely from originating materials, or manufactured using non-originating inputs while meeting the product-spec…
Paris/New Delhi, July 5 (IANS) Finance Minister Nirmala Sitharaman addressed the Indian community in France, lauding their role as a formidable force that enhances India’s soft power, global standing, and bilateral relationships.She delivered the keynote address to the Indian diaspora at a gathering in Marseille, France. Later, the Union Finance Minister also interacted with the members of the Indian diaspora, according to Finance Ministry.She also interacted with Indian professionals from Larse…