Finance Minister Current Affairs - 2020

Why FM allowed Five States to raise financial resources through Open Market Borrowings?

Union Finance Ministry Smt. Nirmala Sitharaman has granted permission to raise additional financial resources of Rs. 9,913 crore to five states through Open Market Borrowings (OMBs). The five states Andhra Pradesh, Telangana, Karnataka,  Goa, and Tripura. Key Facts This permission allows Karnataka to raise Rs. 4,509 crore. Andhra Pradesh can borrow Rs. 2,525 crore. Telangana Read More…

India attends third G20 Finance Ministers and Central Bank Governors meet

On July 18, 2020, Finance Minister Nirmala Sitaraman participated in third G20 Finance Ministers and Central Bank Governors meet. The meet was presided by Saudi Arabia. Highlights During the first meeting, India shared its G20 Action plan in response to COVID-19 that was endorsed by all the G20 finance ministers and central bank governors. During Read More…

Second Tranche of India’s First Corporate Bond ETF will be offered from 14th July

The Second Tranche of India’s first Corporate Bond Exchange-Traded Fund (ETF)- Bharat Bond ETF will be open for subscription from 14th July to 17th July 2020. Two new ETF series with maturities April 2025 and April 2031 will be offered under the new fund offer. The base price will be Rs 3,000 crore with oversubscription Read More…

42 Crore Citizens received Financial Aid of Rs 65,454 Crore under PMGKP

As per the data provided by the Union Finance Ministry on 20th June 2020,  through Pradhan Mantri Garib Kalyan Package (PMGKP), a total of 42 crore citizens across the country have received financial aid of Rs 65,454 crore to date. The amount was distributed in the 3 forms, :(i) Through Direct Benefit Transfer (DBT) to Read More…

INR-USD Futures and Options Contracts launched by Finance Minister

On May 9, 2020, the Union Finance Minister Smt Nirmala Sitaraman launched the INR-USD Futures and Options contracts in the BSE and NSE platforms. They were launched at the GIFT International Financial Service Centre (IFSC) in Gandhinagar, Gujarat through video conference. Significance The contracts have been launched to increase economic activity and employment in the Read More…