Finance Ministry Current Affairs - 2019

Category Wise PDF Compilations available at This Link

Government notifies Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019

Union Finance Ministry has notified Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019, a dispute resolution and amnesty scheme to reduce legacy service tax and central excise cases. It will become operational from September 1, 2019 four months till December 31, 2019. It can be availed by taxpayers for closing their pending disputes relating to legacy Service Read More…

Month:  Categories: Government Schemes & Projects

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PSU banks to bring down govt equity to 52%

The Finance Ministry has asked the public sector banks to gradually reduce the government’s equity to 52 per cent. Currently, some of the public sector banks have government’s holding beyond 75 per cent. Why the disinvestment? The decision to bring down the government’s equity to 52 per cent was taken due to the following reasons: Read More…

Month:  Categories: Business, Economy & Banking

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Government to release Rs 75 commemorative coin to mark 75th anniversary of Tricolour hoisting by Bose

Union Ministry of Finance has announced to release Rs 75 commemorative coin on occasion of 75th anniversary of hoisting of Tricolour for first time by Netaji Subhash Chandra Bose at Cellular Jail, Port Blair on December 30, 1943. Earlier on October 21, 2018, Prime Minister Narendra Modi had hoisted National Flag at Red Fort and Read More…

Month:  Categories: Governance & Politics

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Finance Ministry launches web portal to grant loans to MSMEs within hour

Union Finance Minister Arun Jaitley launched portal www.psbloansin59minutes.com to enable micro, small and medium enterprises (MSMEs) to get in-principle approval of loans within hour without need for branch visit. The web portal will enable in principle approval for MSME loans up to Rs. 1 crore within 59 minutes from Small Industries Development Bank of India Read More…

Month:  Categories: Business, Economy & Banking

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Government doubles monetary limit for filing cases in DRT

 Union Finance Ministry has doubled pecuniary limit to Rs. 20 lakh from Rs.10 lakh for filing loan recovery application in Debt Recovery Tribunals (DRT) by banks and financial institutions. It means that bank or financial institution or consortium of banks or financial institutions cannot approach DRTs if pecuniary limit amount due is less than Rs Read More…

Month:  Categories: Business, Economy & Banking

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Government to infuse Rs 11,336 crore capital in 5 public sector banks by September-end

Union Finance Ministry is planning to infuse additional capital close to Rs 11,336 crore in 5 more public sector banks (PSBs) by September 2018-end. These five state-owned banks are Punjab National Bank (PNB), Corporation Bank, Andhra Bank, Allahabad Bank and Indian Overseas Bank (IOB). Key Facts This round of capital infusion will be done through Read More…

Month:  Categories: Business, Economy & Banking

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Government raises threshold monetary limit for filling appeals relating to tax cases

Union Finance Ministry has hiked threshold monetary limit for tax departments to file appeals all three levels of appeal — Appellate Tribunals, High Courts, and Supreme Court. The move is aimed at significantly decreasing taxpayer greivances and litigation burden of tax departments in courts and tribunals across the country. Key Facts Tax departments, Central Board Read More…

Month:  Categories: Business, Economy & Banking

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