Finance Ministry starts groundwork for fresh bank consolidation

Finance Ministry starts groundwork for fresh bank consolidation

The next wave of bank consolidation is planned during the October-December quarter of the current fiscal with the Finance Ministry starting to seek information from PSBs on possible targets for amalgamation/mergers and acquisitions with justification on how such an initiative...
read more
Finance ministry may provide capital support for merger of PSU banks

Finance ministry may provide capital support for merger of PSU banks

The finance ministry is open to providing capital support for facilitating consolidation among state-owned banks, which are reeling under mounting bad loans, official sources said. The Union cabinet has approved the setting up of an alternative mechanism, or a...
read more
Subhash Garg takes charge as economic affairs secretary in finance ministry

Subhash Garg takes charge as economic affairs secretary in finance ministry

Senior bureaucrat Subhash Chandra Garg today assumed charge as secretary of the Department of Economic Affairs (DEA) in the finance ministry. A 1983 batch IAS officer, from the Rajasthan cadre, Garg was World Bank executive director for Bangladesh, Bhutan, Ind...
read more
Finance Ministry Seeks Report On NSE Trading Glitch

Finance Ministry Seeks Report On NSE Trading Glitch

New Delhi: The finance ministry on Monday sought a report from Sebi on the technical glitch in the National Stock Exchange’s system that had led to trading disruptions. Sources at the ministry said it was a technical problem that led...
read more
All Government Schemes To Have Sunset Clause: Finance Ministry

All Government Schemes To Have Sunset Clause: Finance Ministry

New Delhi: All government schemes should have a sunset clause and must be co-terminus with the tenure of Finance Commission, which is constituted every five years, the Finance Ministry said on Monday. In a communication to various departments and ministries,.....
read more
Finance Ministry Body Recommends Steel Import Duties

Finance Ministry Body Recommends Steel Import Duties

New Delhi: An arm of the Finance Ministry has recommended maintaining import duties on some steel products until March 2018, a government document showed on Wednesday, in a move to support the local steel industry and protect mills from cheaper...
read more