Community & General News

India poised to become one of the largest digital markets in the world, says Commerce Minister

01 October 2021 at 06:01

As of May 2021, India's United Payments Interface (UPI) has seen participation of 224 banks & recorded 2.6 billion transactions worth over $68 Bn and the highest ever, more than 3.6 Bn transactions, in Aug'21.

Posted in Community & General | 1551 Views

ECLGS' scope expanded and scheme extended till 31st March 2022

30 September 2021 at 06:01

As on 24th September 2021, loans sanctioned have crossed Rs. 2.86 lakh crore under the Scheme and out of total guarantees issued, about 95% of the guarantees issued are for loans sanctioned to Micro, Small and Medium Enterprises.

Posted in Community & General | 1638 Views

Quarterly Report on Public Debt Management for the quarter ended June 2021

29 September 2021 at 05:49

During Q1 of FY22, the Central Government issued dated securities worth ₹3,18,493 crore as against ₹3,46,000 crore in Q1 of FY21, while repayment were at ₹1,05,186 crore. The weighted average yield of primary issuances increased to 6.11% in Q4 FY21.

Posted in Community & General | 1005 Views

Government's Borrowing Plan for Second Half (H2) of FY 2021-22

28 September 2021 at 05:44

The Government plans to borrow ₹5.03 lakh crore in H2 of FY 2021-22. The H2 FY 2021-22 projection also factors requirements for release of balance amount to states on account of back-to-back loan facility in-lieu of GST compensation during the year.

Posted in Community & General | 1365 Views

India needs 4 -5 more banks like SBI to meet changing requirements of the Indian Economy: Nirmala Sitharaman

27 September 2021 at 05:54

The Finance Minister reminded bankers of the need to adapt in line with fast changes in technology. "What we think is latest today will be outdated in a year or so, we have to thus acquire resources to constantly update ourselves."

Posted in Community & General | 1680 Views

Ministry of Finance approved capital expenditure projects of Rs. 2,903.80 crore in 8 States

25 September 2021 at 21:11

The Department of Expenditure, Ministry of Finance, has approved capital projects of Rs. 2,903.80 crore in 8 States under the scheme entitled ‘Special Assistance to States for Capital Expenditure for 2021-22’.

Posted in Community & General | 1203 Views

Grant of Rs. 2427 crore released to States for Urban Local Bodies

18 September 2021 at 07:12

The States are required to transfer the grants to the ULBs within 10 working days of receipt from the Union Government. Any delay beyond 10 working days requires the State Governments to release the grants with interest.

Posted in Community & General | 1485 Views

MoS Finance Bhagwat Karad asks Banks to focus on Aspirational Districts yet to attain financial inclusion target

17 September 2021 at 05:52

PMJDY accounts reached everyone, even if the accounts were zero balance accounts. Even people who hesitated to enter the mainstream were also brought in and given confidence, with opening of their accounts, disbursing of RuPay Cards and insurance cover.

Posted in Community & General | 1263 Views

India and Singapore to link their Fast Payment Systems - Unified Payments Interface and PayNow

16 September 2021 at 08:35

The UPI-PayNow linkage will enable users of each of the two fast payment systems to make instant, low-cost fund transfers on a reciprocal basis without a need to get onboarded onto the other payment system.

Posted in Community & General | 1323 Views

11 States meet the target for capital expenditure in Q-1 of 2021-22

15 September 2021 at 05:48

Out of the net borrowing ceiling (NBC) of 4% of GSDP for the States for 2021-22, 0.50 percent of GSDP was earmarked for incremental capital expenditure to be incurred by the States during 2021-22.

Posted in Community & General | 1482 Views