Gandhinagar, May 22 (IANS) India’s efforts to position itself as a global financial and investment destination received fresh emphasis during a high-level review of Gujarat International Finance Tec-City (GIFT City), where Union Finance Minister Nirmala Sitharaman noted that the International Financial Services Centre (IFSC) was helping channel international capital flows into the country through globally benchmarked institutional frameworks, regulatory agility and a supportive social ecosyste…
Latest Ministry of Finance News & Updates
Mumbai, May 21 (IANS) The Pune Regional Unit of the Directorate of Revenue Intelligence (DRI), under the Mumbai Zonal Unit on Thursday seized prohibited wildlife species near Pune Railway Station and apprehended two persons allegedly involved in the illegal possession and sale of protected animals. Acting on specific Intelligence inputs, DRI officers launched a surveillance operation in Pune and intercepted one suspect at the identified location on May 20. During examination, officials recovered…
New Delhi, May 19 (IANS) The government on Tuesday dismissed as ‘false, misleading and baseless’ reports and social media claims suggesting that it was planning to introduce a gold monetisation scheme for temple trusts and religious institutions across the country.The Ministry of Finance, in an official clarification, said certain media reports and social media posts were falsely claiming that the Centre was planning to issue gold bonds to temples in exchange for temple gold reserves or had appr…
New Delhi, May 18 (IANS) Pakistan Railways is facing pending employee-related liabilities worth Rs 21.36 billion (Pakistani rupee), with dues of retired and serving staff remaining unpaid despite claims of improved financial performance, a report has said.According to official documents cited by SAMAA TV, a dispute has emerged between the Ministry of Railways and the Ministry of Finance over the release of funds required to clear the outstanding payments.The neighbouring country’s Railways Min…
New Delhi, May 16 (IANS) The government has revised export taxes on petroleum products, imposing a special additional excise duty (SAED) of Rs 3 per litre on petrol exports while reducing the duty on diesel to Rs 16.5 per litre, effective from Saturday.The notification by the Ministry of Finance stated that the entry of Rs 3 per litre shall be substituted for petrol exports, while diesel has been revised to Rs 16.5 per litre.It further said the road and infrastructure cess has been reduced to ze…
New Delhi/Lucknow, May 14 (IANS) The Allahabad High Court’s Lucknow Bench has directed the CBI, Enforcement Directorate (ED), Serious Fraud Investigation Office (SFIO) and other authorities to file responses within eight weeks on a petition alleging disproportionate assets against Leader of Opposition in the Lok Sabha Rahul Gandhi. A Division Bench of Justices Rajesh Singh Chauhan and Zafeer Ahmad passed the order while hearing a criminal writ petition filed by Karnataka-based BJP worker S. Vi…
New Delhi, May 12 (IANS) In a move aimed at safeguarding India’s maritime trade and shipping operations amid escalating tensions in the Middle East, the Department of Financial Services (DFS), Ministry of Finance, on Tuesday launched the ‘Bharat Maritime Insurance Pool’ (BMIP) with a total underwriting capacity of $1.5 billion and a sovereign guarantee support of $1.4 billion (around Rs 12,980 crore).The initiative is designed to ensure uninterrupted maritime insurance coverage for Indian-…
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…
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…