Finance News - Latest Updates & Headlines
Russia, SCO nations discuss unified standards for sustainable financing
Moscow, April 14: Russia has called for unified standards on sustainable financing among the member states of the Shanghai Cooperation Organisation (SCO), presenting best practices and proposals to support regional investment and enhance the evaluation of environmental, social, managerial, and non-financial risks, TV BRICS reported.
US dollar falls for 5th straight day amid tariff tensions
New Delhi, April 14: The US dollar fell 0.7 per cent on Monday -- marking its fifth day of decline in a row. It pushed the DXY index, which measures the dollar’s strength against a group of major currencies, to its lowest level in three years.
Payments via mobile phones clocked 41 pc jump in July-Dec 2024
New Delhi, April 11: Payments through mobile phones in India recorded a 41 per cent jump in transaction volume to 88.54 billion and a 30 per cent rise in value to Rs 197.69 lakh crore in the second half of 2024.
UK Chancellor, Finance Minister Sitharaman announces USD 400 million in new trade
New Delhi, April 10: UK Chancellor Rachel Reeves and Finance Minister Nirmala Sitharaman announced USD 400 million in new trade and investment deals at the 13th UK-India Economic and Financial Dialogue in London on Thursday.
Microfinance sector shows signs of recovery; loan growth picked up in Q4FY25: Report
New Delhi, April 10: India's microfinance sector, which went through a tough phase in recent quarters, is now showing early signs of recovery, according to a report by Investec Equities.
State's financial status is empowered: Karnataka Home Minister G Parameshwara
Mandya, April 10: Karnataka Home Minister G Parameshwara claimed that the state's financial status is empowered, and it ranks second across the country in terms of investment and Goods and Services Tax collections.
Bajaj Finance shares decline amid weak investor sentiment
Mumbai, April 9: Bajaj Finance Limited's shares fell on Wednesday, reflecting weak investor sentiment despite no major negative triggers.
India Inc. is better placed to handle global slowdown, amid tariff uncertainties: Report
New Delhi, April 9: With stable finances, Indian companies are better positioned to handle the current economic slowdown, says a report by the DSP Asset Managers.
Microfinance credit costs to decline from 7-year high: Report
Mumbai, April 9: Microfinance institutions (MFIs) are expected to report lower credit costs in fiscal 2026 due to a stabilisation in the collection efficiency, better borrower-lender discipline, and an increase in provision cover, according to a Crisil report released on Wednesday.
RBI cuts repo rate by 25 basis points, switches to accommodative stance to spur growth
Mumbai, April 9: RBI Governor Sanjay Malhotra on Wednesday announced a 25 basis cut in the policy rate from 6.25 per cent to 6 per cent and change in monetary policy stance from neutral to accommodative to accelerate economic growth.
Maha: Finance Dept issues guidelines for raising externally supported loans
Mumbai, April 8: Amid rising fund requirement due to the constraints in revenue mobilisation internally, the Maharashtra Finance Department on Tuesday released the notification with regard to the guidelines for externally supported loans to finance various projects in the state.
Finance minister Sitharaman discusses India's growth, opportunities with Prudential in London
New Delhi, April 8: Finance Minister Nirmala Sitharaman met Chair of insurance and asset management company Prudential, Shriti Vadera, in London, during her ongoing visit to the United Kingdom.
Government notifies amalgamation of Regional Rural banks on principles of 'One State One RRB'
New Delhi, April 8: The Department of Financial Services (DFS) has notified the amalgamation of 26 Regional Rural banks (RRBs) on the principles of 'One State One RRB', the Ministry of Finance said in a statement Tuesday.
Centre notifies amalgamation of 26 Regional Rural Banks
New Delhi, April 8: The Finance Ministry's Department of Financial Services has notified the amalgamation of 26 Regional Rural Banks (RRBs) on the principles of 'One State One RRB' as part of the fourth phase of the continuing exercise to improve efficiency, according to an official statement issued on Tuesday.
RBI named most innovative financial institution globally by Global Finance
Mumbai, April 8: The Reserve Bank of India (RBI) has been recognised as the Most Innovative Financial Institution globally in Global Finance's prestigious 2025 Innovators list, the central bank said in a post on X.
Ten years of Mudra fuels grassroots entrepreneurship
New Delhi, April 8: India on Tuesday marks ten years of the Pradhan Mantri MUDRA Yojana (PMMY), the flagship programme of Prime Minister Narendra Modi aimed at funding the unfunded micro enterprises and small businesses.
FM Sitharaman to visit London today for key talks on bilateral investment treaty, FTA
New Delhi, April 8: Finance Minister Nirmala Sitharaman will visit London for three days starting Tuesday to engage in high-level discussions on various economic matters, including a proposed free trade agreement (FTA) and a bilateral investment treaty (BIT) with the United Kingdom.
Ensure 'no rush expenditure' in last month of fiscal year: Maha Finance Dept
Mumbai, April 7: Amid a widening gap between the revenue receipts and revenue expenditure, the Maharashtra Finance Department on Monday has directed all the departments to ensure 'no rush of expenditure' in the last month of the fiscal year 2025-26.
Sanctioned 50 crore loans worth Rs 33 lakh crore: Department of Financial Services Secretary as PM Mudra Yojana completes 10 yrs
New Delhi, April 8: Pradhan Mantri Mudra Yojana, the Flagship Programme of the Prime Minister aimed at funding the unfunded micro enterprises and small businesses, has sanctioned 50 crore loan accounts worth Rs 33 lakh crore in the last ten years, an official said.
BJP raises questions over ex-FM Chidambaram's logic on economic analysis
New Delhi, April 6: Prime Minister Narendra Modi-led government increased the share of taxes given to states from 32 per cent to 42 per cent after 2015, which naturally led to more funds for states like Tamil Nadu, clarified Amit Malviya, in-charge of BJP's (Bharatiya Janata Party) National Information & Technology Department on his X handle.
West Bengal achieves 11.43% GST collection growth in 2024-25, outperforming national-level: CM Mamata Banerjee
Kolkata, April 6: West Bengal Chief Minister Mamata Banerjee announced on Sunday that the state achieved a growth of 11.43 per cent in GST collection for the financial year 2024-25, two per cent higher than the national level.
Bengal witnessed 11.43 pc GST growth: Mamata Banerjee
Kolkata, April 6: West Bengal has witnessed an 11.43 per cent growth in Goods & Services Tax (GST) collection during the financial year 2024-25 over the corresponding figure achieved during the previous financial year of 2023-24, the Chief Minister Mamata Banerjee claimed on Sunday.
India's business correspondence sector to cross Rs 147 billion by FY2025: Report
New Delhi, April 6: India's Business Correspondent (BC) sector will cross Rs 147 billion by financial year 2025 (FY25), charting an impressive 19 per cent compound annual growth rate (CAGR), said a report by BLS E-Services.
Uttarakhand CM tells all departments to spend 80 pc of budget by December
Dehradun, April 5: Uttarakhand Chief Minister Pushkar Singh Dhami on Saturday directed all departments to spend up to 80 per cent of the budget by the month of December.
Karnataka government passes 91 Acts under Siddaramaiah's leadership, says Minister HK Patil
New Delhi, April 4: Karnataka Minister HK Patil on Friday shared details of the state's legislative accomplishments under the leadership of Chief Minister Siddaramaiah, emphasizing the government's commitment to judicial reforms and the protection of citizens.
Financial inclusion: India's business correspondent sector to cross Rs 147 billion in FY25
New Delhi, April 4: Driven by rising rural banking demand, government-led financial inclusion schemes, and digital innovation, India’s business correspondent sector was set to surpass Rs 147 billion in FY25, a report showed on Friday.
Andhra CM Chandrababu Naidu reviews finance plans ahead of 16th Finance commission meeting
Amaravati, April 4: Andhra Pradesh Chief Minister Chandrababu Naidu held a review meeting with finance department officials ahead of his meeting with the team of the 16th Finance Commission.
MP: BMC presents budget of Rs 3611.79 crs, increases property and water taxes; IMC presents Rs 8174 cr for 2025-26
Bhopal, April 3: The Bhopal Municipal Corporation (BMC) and Indore Municipal Corporation (IMC) presented their respective budgets for the fiscal year 2025-26 on Thursday.
Centre releases Rs 1,440 crore as grants for rural local bodies in five states
New Delhi, April 3: The Union government has disbursed over Rs. 1,440 crore as grants to boost rural development across five states-- Arunachal Pradesh, Gujarat, Madhya Pradesh, Nagaland, and Punjab -- during the financial year 2024–25, according to a statement issued by the Ministry of Panchayati Raj on Thursday.
Govt scraps charges on updating nominee details in PPF accounts
New Delhi, April 3: Finance Minister Nirmala Sitharaman announced on Thursday that the government has issued a Gazette Notification to bar financial institutions from levying any charges for modifying or updating nominee details in PPF (Public Provident Fund) accounts.
No fee to be charged for updating nominees for PPF accounts: Finance Ministry
New Delhi April 3: The Union Government on Thursday announced that the financial or banking institutions will not charge any fee for updating nominees for Public Provident Fund or PPF accounts.
India's rural lending landscape sees key transformation, structured loan schemes rise
New Delhi, April 2: Driven by rapid digitisation, rise of fintech and increased government support, the rural lending landscape in India is undergoing a significant transformation, creating new opportunities for structured and efficient lending models and ensuring that credit reaches those who need it most, according to a new report.
PMMY an effective tool for women empowerment at grassroots level: SBI report
New Delhi, April 2: Increasing women participation in the Pradhan Mantri Mudra Yojana (PMMY) — 68 per cent of 52 crore account holders are women — has led to better financial situation of women borrowers in the last 10 years, a report showed on Wednesday.
GST Council seeks revenue growth without public burden: Finance Minister
New Delhi, April 1: Finance Minister Nirmala Sitharaman emphasized on Tuesday that financial matters of the country and states should remain above politics.
'NITI NCAER States Economic Forum' portal to boost research on public finances launched
New Delhi, April 1: Union Finance Minister Nirmala Sitharaman on Tuesday launched the “NITI NCAER States Economic Forum” portal, that will help states make more meaningful interventions, raising revenues, managing debts and learning from peer experiences.
Punjab sees record-breaking excise revenue of Rs 10,743.72 crore: Minister
Chandigarh, April 1: Punjab Finance Minister Harpal Singh Cheema said on Tuesday that the state's Excise and Taxation Department has reported a record-breaking excise revenue of Rs 10,743.72 crore for 2024-25, marking an impressive annual growth rate of 16.36 per cent compared to the previous fiscal.
GST collections for March 2025 surge 9.9% to reach Rs 1.96 lakh crore
New Delhi, April 1: The Gross Goods and Services Tax (GST) collections for March 2025 stayed at Rs 19,56,034 crore (Rs 1.96 lakh crore), surging 9.9 per cent, according to the government data released on Tuesday.
India Inc.'s strong balance sheets positioned to navigate global uncertainties: ICRA
New Delhi, April 1: India Inc. has emerged in a strong financial position as it braces for potential global uncertainties, with its balance sheets showing resilience despite challenging economic conditions.
$6.8 billion extra budget aimed at addressing 'pressing issues': South Korea
Seoul, March 31: The finance ministry here said on Monday that its proposal of a supplementary budget of 10 trillion won ($6.8 billion) aims to tackle the nation's most "pressing issues" rather than serve as an economic stimulus.
FM Sitharaman to launch a portal having repository of social, economic, research data on Tuesday
New Delhi, March 31: NITI Aayog, in collaboration with the National Council of Applied Economic Research (NCAER), has developed a portal which is a comprehensive repository of data on social, economic and fiscal parameters, research reports, papers, and expert commentary on State Finances for a period of about 30 years (1990-91 to 2022-23).