Centre offers interest-free 50-year loans to States for capital expenditure for Rs 12,000 crores, consisting of three components, says Finance Minister Nirmala Sitharaman

Opposition states says Centre needs to find a common ground on the issue. They say they would move the Supreme Court in case the government put pressure on them and implement option 1

The trigger for the current round of agitation came after Finance Minister Nirmala Sitharaman included corporatisation of OFB as part of the structural reforms announced to kickstart the economy on May 16

A panel under Sushil Modi will work out a plan to get the states which had received more than their share of IGST refunds to return the excess amount without burdening them too much

Centre assured that the states that they will not be denied compensation even if they don't opt for either of the two borrowing options; compensation cess of Rs 20,000 crore will be disbursed tonight

Finance Secretary Ajay Bhushan Pandey on Monday said that the decision of the GST Council to make returns for small taxpayers on a quarterly basis rather than monthly basis will provide a major relief to small taxpayers

GST Council meet: Finance Minister Nirmala Sitharaman on Monday said that this year's collection of Rs 20,000 crore as compensation cess will be disbursed to states tonight

Finance Ministry said that the government is open to all possibilities to minimise COVID-19's impact and the Finance Minister is not averse to taking any further measures to ease people's suffering

RBI's new guidelines for credit and debit card companies will come into effect on October 1; Centre has said maintenance of vehicular documents, including driving licences and e-challans, will also be done online from tomorrow

Amid the economic slowdown owing to the ongoing coronavirus crisis, expectations are high about the next fiscal stimulus by the government

The government is planning to sell 25 per cent stake in Life Insurance Corporation (LIC) of India via public offering amid drying revenue and widening budget gap

The Parliament had recently approved Section 10A under the second amendment to the IBC that allows the government to extend the suspension of insolvency proceedings for up to a year from the date of beginning

Suresh Angadi succumbed to coronavirus after being hospitalised for a week

Finance Minister Nirmala Sitharaman termed the Bill as critical for financial stability in the country, and said it brings in a firm legal basis for bilateral netting for two counter parties

Rajya Sabha passes bill to bring cooperative banks under RBI's ambitThe Rajya Sabha on Tuesday passed the Banking Regulation (Amendment) Bill, 2020, to bring cooperative banks under the control of the Reserve Bank of India (RBI). The amendment, which got approval from Lok Sabha on September 16, aims to improve governance at such banks and protect depositors' money. The Bill, which replaces an ordinance promulgated on June 26, was passed by a voice vote in Rajya Sabha.Tata Sons offers to pur...

Finance Minister Nirmala Sitharaman said the amendments have been brought to completely protect the interest of depositors and will also help a quick recovery in cases of stressed co-operative banks without any moratorium

Soon after the spread of coronavirus, FM Sitharaman, in a relief to the employees and employers, reduced the mandatory monthly EPF contribution to 10 per cent of the basic salary from 12 per cent for the months of May, June and July

It essentially consists of two different compartments, the first one consists of 48 amendments all of which aim at decriminalisation and related matters, said Sitharaman

Finance Minister Nirmala Sitharaman said that the provisions would, however, not impact proceedings already initiated before March 25. The Centre might extend this six-month period to one year through notification

\"Till today you didn't bother to ask it to be registered, I don't understand why. You should have actually asked. .. No, not one voice in that party. It took 23 MPs to write a letter now after 50 years . Like charity, transparency should start from home,\" Sitharaman asks Congress