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,...
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Can’t Give Info If Finance Minister Was Consulted Before Demonetisation

Can’t Give Info If Finance Minister Was Consulted Before Demonetisation

New Delhi: Whether views of the Chief Economic Advisor and the Finance Minister were taken before the sudden announcement of demonetisation of high-value currency notes by Prime Minister Narendra Modi on November 8? The Reserve Bank of India feels this...
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Government Permits 12 PSU Banks To Raise Rs. 3,000 Crore From Market

Government Permits 12 PSU Banks To Raise Rs. 3,000 Crore From Market

New Delhi: In a bid to strengthen capital base of public sector banks (PSBs), the government has allowed 12 lenders to raise nearly Rs. 3,000 crore via preferential shares over and above the Rs. 22,915 crore capital support committed to...
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Notes Ban Impact: EMIs To Fall As SBI, Other Banks Cut Lending Rates

Notes Ban Impact: EMIs To Fall As SBI, Other Banks Cut Lending Rates

New Delhi: Top PSU lenders State Bank of India, PNB and Union Bank on Sunday slashed their benchmark lending rates by up to 90 basis points, a day after Prime Minister Narendra Modi asked banks to priorities their lending towards...
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Viral Acharya, New Reserve Bank Deputy Governor, Has An Impressive CV

Viral Acharya, New Reserve Bank Deputy Governor, Has An Impressive CV

The government has appointed Viral V. Acharya, a professor of economics at New York University, as one of the Reserve Bank of India’s four deputy governors for a term of three years, according to a statement on Wednesday. Since 2008,...
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IFCI Raises Lending Rate By 10 Basis Points To 8.6 Per Cent

IFCI Raises Lending Rate By 10 Basis Points To 8.6 Per Cent

New Delhi: Term finance lender IFCI today said it has raised benchmark lending rate by 0.1 percentage point (10 bps) to 8.6 per cent. The company has changed its its short-term benchmark rate (IBR-ST) from 8.50 per cent to 8.60...
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