If governments try to regulate cryptocurrencies without reaching a worldwide consensus, they will fail. FM A. Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman said on Sunday that a worldwide framework may need to be formed, and everyone will have to work together on it, before India takes any action on it, underscoring that global consensus is important for regulation of crypto. However, the Minister emphasized...

INDIAN FINANCE MINISTRY SHOWS CONFIDENCE IN PREPARATION AGAINST SECOND COVID-19 WAVE

HIGHLIGHTS

• The report from Finance Ministry says that India is well prepared to combat the second wave of COVID-19.
• The ministry believes that the AtmaNirbharBharat Mission can overcome the second wave of COVID-19.

The report from Fi...

INDIAN GOVERNMENT: BLOCKING IP ADDRESSES OF EXCHANGES TO EXECUTE CRYPTO BAN

Highlights: 
•    India will not let cryptocurrencies become legit in the country
•    The latest plan of banning IP addresses not foolproof
The government of India has decided to put forward a bill to legally ban cryptocurrencies ...

US TREASURY SECRETARY JANET YELLEN HAD A WORD WITH INDIAN FM NIRMALA SITHARAMAN

Highlights

• According to the tweets made by Indian finance ministry, US Treasury Secretary appreciated the contribution made by India towards world’s vaccine efforts

• The Ministry of Finance made tweets where it shared that the two nations agreed to work clos...

INDIAN CRYPTOCURRENCY INDUSTRY SEES HOPE IN NEW STANCE OF FM

HIGHLIGHTS

• Currently cryptocurrency does not have any legal recognition in India.
• However, now cryptocurrency industry in India is seeing hope in the new stance of Finance Minister.

Although Indian law does not recognize the concept ...

NIRMALA SITHARAMAN: INDIA IS OPEN TO EXPERIMENTATION IN REF. TO CRYPTO

Highlights:

•          Indian government will look at taking a stand on the cryptocurrency domain

•          Technology is something that India cannot ignore

The India...

FDI HIKE IN INSURANCE EXPECTED TO BOOST FOREIGN CAPITAL IN INDIA

HIGHLIGHTS

• The new budget presented by FM Nirmala Sitharaman allows 74% FDI in insurance business.
• The new budget proposal is can help local private insurers expand presence in India.

With the new budget presented by Finance Minister...

INDIAN CAR DEALERS HAIL NIRMALA SITHARAMAN’S BUDGET 2021

HIGHLIGHTS

• The current fiscal year witnessed increase in the registration of vehicles across India in December 2020.
• Combined sales of passenger vehicles and two-wheelers witnessed a growth of 11% year-on-year.
• FADA said that the announceme...

INDIAN GOVERNMENT MAY SLASH GST RATE FOR AUTOMOBILE SECTOR

HIGHLIGHTS

• To boost the growth of automobile sector, Indian government is considering to slash GST for automobile sector.
• Union minister of Heavy Industries and Public Enterprises Prakash Javadekar is in talks with Finance Minister Nirmala Seetharaman...

NO HIKE IN GST RATES SAYS FM NIRMALA SITHARAMAN

Highlights

• Union Finance Minister Sitharaman said this is not the appropriate time to hike taxes as the country is still battling COVID-19 and its economic consequences 

• Seven non-NDA states like Punjab, Rajasthan, Maharashtra, Jharkhand, Chhatisgarh, Puduch...

PNB, OBC, UBI MERGER: NO EMPLOYEE WILL BE SACKED SAYS PNB MD & CEO RAO

Highlights

• The merger of Oriental Bank of Commerce (OBC), Punjab National Bank (PNB) and United Bank of India came into effect from April 1, 2020

• The MD & CEO SS Mallikarjuna Rao said there will be no retrenchment of employees due to the merger of the OBC, UB...

PM MODI LAUNCHES TRANSPARENT TAXATION PLATFORM, SAYS INDIA IS HONOURING THE HONEST

Highlights

• This new tax reform programme involves faceless assessment, faceless appeal and a tax payer charter that will provide improved experience for tax payers

• PM Narendra Modi said honest tax payers will play huge role in the building the nation

&b...

PM NARENDRA MODI TO LAUNCH ‘TRANSPARENT TAXATION’ PLATFORM ON AUGUST 13

Highlights

• Along with the Prime Minister Modi, this event will also be attended by the Union Finance Minister Nirmala Sitharaman and Minister Anurag Thakur

• The launch event of “Transparent Taxation” will be witnessed by different chambers of commerce,...

GOVERNMENT OF INDIA IMPOSES BAN ON IMPORT OF 101 DEFENCE EQUIPMENT ITEMS

Highlights

• The Union Finance Minister Nirmala Sitharaman had previously announced privatisation in the Indian defence sector

• This is huge boost for the Government of India’s ‘Atmanirbhar Bharat' initiative said Union Defence Minister Rajnath Singh...

WILL SOON GET BACK TO WORK AFTER RECOVERY SAYS CM BS YEDIYURAPPA

BS Yediyurappa, the Chief Minister of Karnataka tested positive for COVID-19 on Sunday and is undergoing treatment at a hospital said that there was no need for anyone to worry and will soon get back to work after recovery. 
The health of the people of the state was his priority and r...

HERE IS HOW PM MODI WORKING TO REVIVE THE ECONOMY

According to the official sources, the Prime Minister of India, Narendra Modi is holding meetings with top officials of the finance and commerce ministries to review the impact of present day COVID-19 on the country’s economy. 
The sources state that the Prime Minister will be p...

GOVT: ALL URBAN CO-OPERATIVE BANKS, MULTI-STATE CO-OP BANKS TO COME UNDER RBI

Highlights

• Union Minister Prakash Javdekar stated that all the 1,540 cooperative banks have brought under the supervision of the RBI in order to give an assurance to all the depositors

• Previously, Union Finance Minister Nirmala Sitharaman had announced the govern...

FM SITHARAMAN: PM MODI WILL LAUNCH RS 50,000 CRORE ‘GARIB KALYAN ROJGAR ABHIYAN' SCHEME

Highlights

• This scheme will be launched by the Prime Minister Narendra Modi at 11 a.m. on June 20

• The Chief Minister and Deputy Minister of Bihar, Nitish Kumar and Sushil Modi will attend this event via video conferencing

• Nearly 25,000 migrant wo...

SMALL BUSINESSES TO BENEFIT FROM GST COUNCIL’S DECISION TO SLASH INTEREST RATES

Highlights

• Finance Minister Nirmala Sitharaman said those businesses that haven’t  filed returns for the month of February, March and April won’t be liable for any interest till July 6

• After July 6, all the small businesses will have to pay inter...

INDIAN GOVERNMENT TO BRING IN MORE FDI IN DEFENCE MANUFACTURING

Highlights

• Finance Minister Nirmala Sitharaman said the foreign direct investment in India’s defence manufacturing will be increased to 74 percent from previous 49 percent

• The Government of India will work towards improving autonomy, efficiency and accounta...