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New Delhi [India], April 9 (ANI): In a step towards strengthening India's fight against cyber fraud and financial crimes, the Financial Intelligence Unit-India (FIU-IND) and the Indian Cyber Crime Coordination Centre (I4C) signed a Memorandum of Understanding (MoU) to enhance information sharing and coordination. According to a statement released by the Ministry of Finance, "The MoU was signed by Amit Mohan Govil, Director, FIU-IND, and Rajesh Kumar, Chief Executive Officer, the Indian Cyber Cr ...Read More >
The Financial Intelligence Unit-India and the Indian Cyber Crime Coordination Centre have signed an agreement to improve information sharing and combat cyber frauds. The MoU aims to enhance fraud detection and prevention protocols and facilitate the development of guidelines for financial institutions. This marks a new era of intelligence sharing in India. The Financial Intelligence Unit-India (FIU-IND) and the Indian Cyber Crime Coordination Centre (I4C) have formalized an agreement to bolster ...Read More >
New Delhi [India], April 9 (ANI): In a step towards strengthening India's fight against cyber fraud and financial crimes, the Financial Intelligence Unit-India (FIU-IND) and the Indian Cyber Crime Coordination Centre (I4C) signed a Memorandum of Understanding (MoU) to enhance information sharing and coordination. According to a statement released by the Ministry of Finance, "The MoU was signed by Amit Mohan Govil, Director, FIU-IND, and Rajesh Kumar, Chief Executive Officer, the Indian Cyber Cr ...Read More >
New Delhi: The Financial Intelligence Unit India and the Indian Cyber Crime Coordination Centre (I4C) signed a comprehensive memorandum of understanding (MoU) to strengthen intelligence sharing and coordination in the fight against cyber frauds and financial crimes, the government said on Thursday. The MoU aims to enable both agencies to establish robust feedback mechanisms for enhancing fraud detection protocols at the national level and facilitate the development and dissemination of guidelin ...Read More >
New Delhi [India], April 9 (ANI): The government is holding discussions with Assam Petrochemicals and Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC) to ensure an adequate supply of methanol for the pharmaceutical industry, which has been impacted due to disruptions in global supply chains arising from the ongoing West Asia crisis. Speaking during the Inter-Ministerial Briefing on Recent Developments in West Asia on Thursday, Satyaprakash TL, Joint Secretary, Department of Pharmac ...Read More >
GUWAHATI, April 9: The four tiger reserves of the State - all national parks - are grappling with acute funding crisis, with the Union Finance Ministry failing to release even half of the required funds under the Centrally sponsored scheme Project Tiger & Elephant since September 2025. Official sources said that the National Tiger Conservation Authority (NTCA) had sanctioned Rs 20.70 crore under the scheme as second instalment, but it could release only a small portion of it to the park authori ...Read More >
PMMY was built on a revolutionary idea that the Indian state could trust its most marginalised citizens with credit, when the formal banking system hesitated Financial inclusion has been at the forefront of the agenda of the Narendra Modi government. In the last decade, India witnessed a silent transformation where millions of ordinary citizens stepped into entrepreneurship with newfound confidence and agency. At its heart lies an initiative launched on April 8, 2016, by the prime minister, the ...Read More >
New Delhi: Finance minister Nirmala Sitharaman said on Wednesday that the Pradhan Mantri Mudra Yojana (PMMY) has been instrumental in reshaping the credit landscape for micro, small and medium enterprises (MSMEs) and countless individual entrepreneurs in the country. So far, more than 577.9 million loans have been sanctioned under the scheme, launched in April 2015, amounting to disbursements of ₹40.07 lakh crore, with two-thirds of the loans sanctioned to women entrepreneurs. Also Read: PMMY ...Read More >
Mumbai, April 8 (MExN): Bank of Baroda has launched 'bob SAMVAD', an AI-powered multilingual conversational platform aimed at transforming in-branch customer interactions and enhancing inclusive banking services. The platform was formally launched by M Nagaraju, Secretary, Department of Financial Services (DFS), Ministry of Finance, in Mumbai on March 28. Described as an industry-first initiative, bob SAMVAD enables real-time, low-latency, two-way communication across 22 languages, allowing cu ...Read More >
New Delhi, Apr 8 (PTI) Finance Minister Nirmala Sitharaman on Wednesday said the Pradhan Mantri MUDRA Yojana, focused on funding the unfunded, will continue to empower entrepreneurs to make them active participants in the nation's journey to become Viksit Bharat by 2047. On the occasion of the 11th anniversary of the Pradhan Mantri MUDRA Yojana (PMMY), Sitharaman said India witnessed a silent transformation where crores of ordinary citizens stepped into entrepreneurship with newfound confidence ...Read More >
Bank of Baroda (BoB) has unveiled "bob SAMVAD", an AI-powered multilingual conversational platform aimed at transforming customer interactions at its branches. Designed to eliminate language barriers, the industry-first platform enables customers and branch staff to communicate seamlessly with each other in their preferred language, according to a PIB statement issued on behalf of the Ministry of Finance. Developed entirely in-house, bob SAMVAD leverages AI-driven speech and language technolog ...Read More >
NEW DELHI: The Pradhan Mantri MUDRA Yojana (PMMY) has disbursed over Rs 40 lakh crore through 57.79 crore loans, marking 11 years of its implementation, the government said on Wednesday. The Ministry of Finance stated that the scheme which was launched by Prime Minister Narendra Modi in 2015, aimed at "funding the unfunded", provides collateral-free loans of up to Rs 20 lakh to micro and small non-corporate, non-farm enterprises. Highlighting the progress, Finance Minister Nirmala Sitharaman s ...Read More >
New Delhi: Large central public sector enterprises (CPSEs) and four major government entities increased capital expenditure sharply in March amid the West Asia war, which drove up their 2025-26 spending beyond the target. Capital spending by these CPSEs and Railway Board, National Highways Authority of India (NHAI), Delhi Metro Rail Corporation and Damodar Valley Corporation jumped 62% year-on-year to ₹1.10 lakh crore in March, showed the latest Department of Public Enterprises data. The surge ...Read More >
Government faces higher subsidy costs due to rising oil prices India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritise capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and ...Read More >
NEW DELHI: India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritize capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and airports, which the government sees as critical to su ...Read More >
New Delhi, Apr 7 (PTI) State-owned Bank of Baroda (BoB) unveiled its bob SAMVAD, an AI-powered multilingual conversational platform aimed at transforming customer interactions at its branches. The platform was launched by M Nagaraju, Secretary, Department of Financial Services (DFS). The platform is designed to eliminate language barriers, and it enables customers and branch staff to communicate seamlessly with each other in their preferred language, BoB said in a statement. Developed entirel ...Read More >
Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of PFC and REC to help achieve scale and improve efficiency in the public sector NBFC space The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had in FY27 Budget announced restructuring of Power Finance Corporation ...Read More >
Mumbai: Shares of Power Finance Corporation (PFC) and REC Limited saw strong movement in the market. Around 2 PM, PFC stock was up nearly 1 percent at about Rs 410, while REC shares also gained around 1 percent to trade near Rs 330. The rise came after reports of a possible merger between the two companies. Government's New Strategy According to sources from the Finance Ministry, the government is exploring a new approach for the merger. If PFC and REC combine, the government may not need to h ...Read More >
New Delhi: The government is looking at options, including issuance of preference shares or fresh equity, to maintain 51 per cent stake in the state-owned Power Finance Corporation post its merger with REC, a senior official said. Finance Minister Nirmala Sitharaman had, in the FY27 Budget, announced the restructuring of Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to help achieve scale and improve efficiency in the public sector NBFC space. "The government would ...Read More >
The proposal to seek fresh bids for IDBI Bank came after senior officials met to weigh options. ShowQuick Read Summary is AI-generated, newsroom-reviewed * The government plans to invite fresh bids for IDBI Bank's sale after low initial offers * Initial bids ranged between Rs 40,000-45,000 crore, below government expectations * Senior officials from DIPAM and DFS are reviewing options and next steps for bidding Did our AI summary help? Let us know. Switch To Beeps Mode The central gover ...Read More >
New Delhi: The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Also Read: Government likely to restart IDBI Bank privatisation process from scratch Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisatio ...Read More >
NEW DELHI, April 7 (Reuters) - India sees no immediate risks to its fiscal deficit target for the financial year that began on April 1, and will continue to prioritise capital spending, two government sources said, as New Delhi assesses the fallout from the Middle East crisis. Officials are considering austerity measures, including spending curbs in ministries with limited capacity to use allocated funds, but are keen to continue spending on roads, railways and airports, which the government se ...Read More >
New Delhi, Apr 7 (PTI) The government may ask for revised financial bids from two potential buyers of IDBI Bank as their original bid amounts were lower than the reserve price fixed for the strategic sale of the lender, sources said. "The IDBI Bank strategic sale is in the technical evaluation stage," a senior official told PTI. Amidst the West Asia crisis, the government is banking on disinvestment and asset monetisation to garner resources and create fiscal space for measures to shield the e ...Read More >
NEW DELHI: Finance minister Nirmala Sitharaman on Monday said the government's prudent fiscal management over the last decade has created room for the RBI to cut rates and allow the Centre to offer targeted support to affected sectors."It is also important to note that a good public finance policy improves the counter-cyclical capacity of fiscal policy - especially the ability to 'lean against the wind' in economic downturn. Today, many countries with high debt and large deficits have no room to ...Read More >
New Delhi, April 6: Finance Minister Nirmala Sitharaman on Monday said fiscal prudence has given the government enough room to push capex and support sectors impacted by the West Asia crisis. Besides, she said the Reserve Bank can go in for further rate cut to deal with the emerging situation. Highlighting the importance of a good public finance policy in challenging times, the Finance Minister said, it improves the counter-cyclical capacity , especially the ability to 'lean against the wind' ...Read More >
New Delhi: Finance Minister Nirmala Sitharaman on Monday said fiscal prudence has given the government enough room to push capex and support sectors impacted by the West Asia crisis. Besides, she said the Reserve Bank can go in for a further rate cut to deal with the emerging situation. Highlighting the importance of a good public finance policy in challenging times, the Finance Minister said that it improves the counter-cyclical capacity, especially the ability to 'lean against the wind' in ec ...Read More >
New Delhi: The Supreme Court, on Monday, directed the Central Bureau of Investigation (CBI) to conduct a preliminary inquiry into the alleged irregular allotment of public contracts by the Arunachal Pradesh government to companies owned by relatives the state's chief minister Pema Khandu. The CBI will submit a report within 16 weeks as to whether an independent investigation is warranted, the Court directed. The agency will examine contracts awarded from January 1, 2015, to December 31, 2025. H ...Read More >
NEW DELHI: CII has released a 20-point plan to help shield Indian companies grappling with the impact of the West Asia crisis, including tax and duty rejig for energy inputs, customs waiver for LNG, and long-term capital gains tax exemption for primary market investment to boost foreign capital inflows.Drawing upon the Covid-era toolkit, the industry body has demanded a credit line scheme guaranteed by govt, a three month loan moratorium and a special refinance window for MSMEs and other sectors ...Read More >
The CII proposes a 20‑point policy roadmap to address the spillover effects of the US‑Iran war on the Indian economy. Supply-side pressures arising from the West Asia war continue to persist, and businesses need targeted liquidity support, industry lobby group Confederation of Indian Industry (CII) said on Sunday. The next phase of policy response needs to focus on targeted liquidity support, credit facilitation, trade cost management and foreign exchange stability, it said in a statement o ...Read More >
New Delhi: Leading industry body CII on Sunday outlined a 20-point agenda to mitigate the impact of the West Asia crisis, calling for measures including a temporary exemption from long-term capital gains tax for foreign investors in the primary market, the introduction of a time-bound conflict-linked emergency credit line guarantee scheme (CL-ECLGS) and a three-month moratorium and restructuring window for MSMEs. The CII has also proposed that priority sector lending (PSL) norms may be revisite ...Read More >
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