Finance

No delay in mega-merger of 10 PSU banks from April 1, loans will be restructured: Nirmala Sitharaman

The speculation around mega-merger of 10 PSU banks to be delayed by at least 6 months owing to regulatory hurdles and need for extra funds to manage the merger has been put to rest. Finance Minister, Nirmala Sitharaman confirmed the merger will indeed happen on April 1.

Feb 28, 2020

Exploring new dimensions of banking in India for customers in near future: RBI

Banks of the future will be very different, says RBI governor Shaktikanta Das at the 13th edition of the Mint's Annual Banking Conclave held on February 24, 2020. Distinct segments of banking institutions may emerge in the coming years.

Feb 26, 2020

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"Cash is king but digital is divine" says RBI

Although cash is deeply embedded in the payment systems in India, planned efforts post-demonetisation have shown a marked shift from cash to digital payments.

Feb 24, 2020

Ayushman Bharat Scheme: Nirmala Sitharaman slashed budget to half; here's why

Finance Minister Nirmala Sitharaman in her budget speech significantly slashed the budget allocation for officially known as Pradhan Mantri Jan Aarogya Yojana (PMJAY) from Rs 6,400 crore to Rs 3,314 crore in the ongoing 2019-20 fiscal.

Feb 4, 2020

Budget 2020: Fund allocation to PM Kisan scheme may be cut by 20%

As per government's plan, over 145 million beneficiaries were targeted but only 95 million farmers have been registered under the scheme of which 75 million have been verified through their Aadhaar.

Jan 30, 2020

What Banking service to be affected during 2-day strike from Jan 31?

Interestingly, the bank strike would coincide with the opening of the Budget session of the Parliament from January 31 when the Economic Survey would be published by the Ministry of Finance.

Jan 30, 2020

Warning: Bank unions could go on indefinite strike from April 1

Indian bank unions have called for multiple nationwide bank strikes to protest wages among other things. Here's what customers should be prepared for.

Jan 24, 2020

Here's why government is seeking Rs 19,000 crore dividend from oil companies

The snail-paced Indian Economy has led to the government getting lower than expected GST collection from the companies.

Jan 15, 2020

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Budget 2020: Centre to tighten noose on fraudulent Input Tax claims to curb revenue shortfall

Tax experts have argued that such checks on illicit claims should have been put in place since the beginning.

Jan 14, 2020

Beware: Not linking PAN-Aadhaar cards could turn financial transactions into nightmare

The deadline to link your PAN and Aadhaar card is here, so act now or face consequences.

Dec 30, 2019

SBI customers must do this or they won't be able to withdraw money from ATMs

Here's an important update for all SBI customers in India, which requires immediate action. Here's everything you need to know.

Dec 19, 2019

PAN-Aadhaar linking last date is December 31: Step by step guide [Video]

The Central Board of Direct Taxes (CBDT) through an order issued in September this year extended the due date for linking the PAN with the Aadhaar till December 31.

Dec 16, 2019

Will US Fed take Digital India's help on Google cue and replicate UPI system?

Google has cited Google Pay experience with India's flagship mobile real-time payments system UPI launched in 2016; the system topped 120 crore transactions in November valued at Rs 1.89 lakh crores.

Dec 15, 2019

Why is Yes Bank board wary of tycoon who wouldn't invest if it was 'No Bank'?

The past of the Canadian who made the $1.2-billion bid for Yes Bank controlling stake is so mysterious with vastly contrasting narratives that Netflix wants to tell his story.

Dec 11, 2019

Ticking time bomb? Rajan warns of crisis in realty, infrastructure segments

The former RBI governor said real estate, construction and infrastructure sectors are in deep trouble amid the growth recession of low economic expansion and growing unemployment.

Dec 8, 2019