Gir Somnath, May 11 (IANS) Prime Minister Narendra Modi on Monday released a commemorative postage stamp and a special Rs 75 coin during a public gathering held as part of the ‘Somnath Amrut Mahotsav’ celebrations in Gujarat’s Gir Somnath district.The releases took place after the Prime Minister participated in religious ceremonies, including the Kumbhabhishek and Dhwaj Puja, at the Somnath Temple, marking 75 years of the reconstructed temple.The commemorative stamp and coin were unveiled duri…
Latest Ministry of Finance News & Updates
Mumbai, May 7 (IANS) India’s economy is growing well and the banking sector remains stable despite global and domestic challenges, M. Nagaraju, Secretary of the Department of Financial Services (DFS), Ministry of Finance, said on Thursday.Speaking at the Indian Banks’ Association’s (IBA) inaugural Summit on Risk Management held here, Nagaraju said risk management in banks must be treated as a strategic responsibility and embedded across all functions of the banking system.”Despite various challe…
New Delhi, May 5 (IANS) The Department of Financial Services (DFS) on Tuesday approved a revised Viability Plan 2.0 for Regional Rural Banks (RRBs) for the period 2025-26 to 2027-28, aiming to strengthen financial sustainability, governance, and long-term competitiveness.The move builds on the earlier three-year viability framework implemented between FY22 and FY25, which played a key role in improving financial performance and institutionalising monitoring mechanisms across RRBs.“The framewor…
New Delhi, May 2 (IANS) In a bid to provide relief to contractors amid the fast-evolving West Asia situation, the government has allowed them to invoke ‘Force Majeure’ in view of disruptions, recognising “war” as a valid trigger under procurement rules.In an office memorandum, the Ministry of Finance said the prevailing conditions in West Asia should be treated as a war-like event for contractual purposes, enabling relief to contractors impacted by delays.Under the revised guidance, cont…
New Delhi, May 1 (IANS) India’s digital payments ecosystem 25 per cent year-on-year growth in the month of April at 22.35 billion transactions at Rs 29.03 lakh crore in terms of value, which is a 21 per cent annual growth, according to data released by the National Payments Corporation of India (NPCI) on Friday.On a daily basis, the average number of transactions saw a notable increase to 745 million in April (from 730 million in March).The average daily transaction value also rose to Rs 96,76…
Ahmedabad, April 29 (IANS) Two individuals from Ghaziabad district in Uttar Pradesh have been arrested by the Ahmedabad Cyber Crime Branch in connection with an interstate cyber fraud case involving impersonation of senior officials of the Ministry of Finance, National Payments Corporation of India (NPCI) and other agencies, police said on Wednesday.The complainant was allegedly cheated of around Rs 47.36 lakh in the case, officials added.Officials said the complainant was contacted between Apri…
New Delhi, April 29 (IANS) In a major boost to ease of access and digital transformation, the Employees’ Provident Fund Organisation (EPFO) has recorded its highest-ever claim settlements in the financial year 2025–26.According to official data, EPFO settled 8.31 crore claims during 2025–26, a significant jump from 6.01 crore claims in FY 2024–25.A large portion of these — 5.51 crore claims — were advance or partial withdrawals, indicating improved accessibility for members to use thei…
New Delhi, April 28 (IANS) Indian airlines are likely to take a call on capacity cuts after the next ATF revision, as a sharp increase in jet fuel prices could force them to rationalise operations, particularly on less profitable routes, according to a report on Tuesday.Domestic carriers are in a wait-and-watch mode as they assess the impact of rising Aviation Turbine Fuel (ATF) prices and prepare for possible changes following the next price revision due in May, NDTV Profit reported.The report …
Colombo, April 24 (IANS) Sri Lanka has initiated a multi-agency investigation into a massive cyber fraud that led to the diversion of a government payment of 2.5 million US dollars, the country’s Ministry of Finance has said.The ministry revealed that cyber criminals gained unauthorised access to the External Resources Department’s computer system through email, and redirected a payment of 2.5 million US dollars originally intended for an Australian creditor.Relevant authorities are also working…
New Delhi, April 11 (IANS) The Centre on Saturday increased excise duties on petroleum products, including high-speed diesel, with immediate effect, according to a notification issued by the Ministry of Finance.The Union government has hiked the export duty or windfall tax on diesel by Rs 34 per litre to Rs 55.5 per litre from Rs 21.5 per litre, with immediate effect.As per the Gazette notification, the Special Additional Excise Duty on high-speed diesel has been raised to Rs 24 per litre.In a s…