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Ministry of Finance: News

03 Jul 2025
Indian Government

Central government holds GPF interest rate steady at 7.1%

The Indian government has announced that the interest rate for the General Provident Fund (GPF) and other related provident fund schemes will remain unchanged at 7.1% for the July-September quarter of 2025.

29 Jun 2025
State Bank of India (SBI)

Why government banks have to list subsidiaries on stock exchanges

The Ministry of Finance has urged public sector banks (PSBs) to consider monetizing their investments in subsidiaries by listing them on stock exchanges.

28 Jun 2025
Gross Domestic Product

Private consumption hits 20-year high, now 61.4% of India's GDP

India's private consumption has reached a two-decade high, according to the latest monthly report by the Ministry of Finance.

No fee on UPI transactions, Finance Ministry calls rumors misleading

India's Ministry of Finance has dismissed rumors of the Merchant Discount Rate (MDR) being imposed on Unified Payments Interface (UPI) transactions.

LIC appoints Sat Pal Bhanoo as its interim CEO

The Life Insurance Corporation of India (LIC) has appointed Managing Director (MD) Sat Pal Bhanoo, as the interim Chief Executive Officer (CEO).

01 Jun 2025
GST

GST collection hits ₹2L crore mark for 2nd consecutive month

India's Goods and Services Tax (GST) collections have crossed the ₹2 lakh crore mark for the second consecutive month in May 2025.

19 May 2025
Indian Government

Modi government mulls stricter foreign ownership rules for companies

The Indian government is gearing up to tighten rules on foreign ownership of companies, as per Reuters.

19 Apr 2025
GST

Is GST applicable on UPI payments over ₹2,000—Check government's response

The Indian government has denied recent rumors of levying Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions above ₹2,000.

08 Apr 2025
State Bank of India (SBI)

₹33L crore loan disbursed under Mudra Yojana; majority beneficiaries women

The Pradhan Mantri Mudra Yojana (PMMY) entered the milestone of its 10th year of implementation on Tuesday.

30 Mar 2025
India

India's external debt surged 10.7% to $718B by December 2024

India's external debt saw a steep increase of 10.7% at the end of December in FY 2024-25, as compared to the same period last year.

Tuhin Kanta Pandey takes charge as SEBI's 11th chairperson

Tuhin Kanta Pandey has officially taken over as the 11th Chairperson of the Securities and Exchange Board of India (SEBI).

28 Feb 2025
Inflation

EPFO retains 8.25% rate on PF deposits for 2024-25

The Employees's Provident Fund Organization (EPFO) has retained an interest rate of 8.25% on employees' provident fund deposits for the fiscal year 2024-25.

05 Feb 2025
ChatGPT

Why Finance Ministry banned using ChatGPT, DeepSeek for official work

The Ministry of Finance has issued an advisory, warning its employees against using artificial intelligence (AI) tools such as ChatGPT and DeepSeek for official purposes.

02 Feb 2025
GST

January's GST collections stand at ₹1.72L crore, second-highest ever

India's Goods and Services Tax (GST) collections for January 2025 have hit ₹1.72 lakh crore, according to provisional data from the Ministry of Finance.

01 Feb 2025
Union Budget

Budget 2025: High-end TVs, smartphones to get cheaper in India

In her Union Budget speech, Finance Minister Nirmala Sitharaman has announced steep cuts in import duties for key mobile phone components and critical materials such as lithium-ion battery scrap.

01 Feb 2025
Union Budget

Budget 2025: ₹2cr loan scheme announced for women, SC/ST entrepreneurs

Finance Minister Nirmala Sitharaman has unveiled the Union Budget for 2025-26, her eighth consecutive presentation.

01 Feb 2025
Nirmala Sitharaman

Union Budget 2025: Nirmala Sitharaman doubles credit guarantee for MSMEs

In her Union Budget speech, Finance Minister Nirmala Sitharaman has announced a major hike in the credit guarantee cover for micro and small enterprises (MSMEs).

24 Jan 2025
Nirmala Sitharaman

Budget 2025: 'Halwa ceremony' today—what does it signify?

The traditional Halwa ceremony, an important part of India's budget preparation, will take place today at North Block in the evening.

UPI hits record 15,500 crore transactions worth ₹223 lakh crore

The Unified Payments Interface (UPI) has achieved a major milestone by processing 15,547 crore transactions amounting to ₹223 lakh crore between January and November 2024.

02 Dec 2024
Indian Government

Modi government removes windfall tax on ATF, petrol and diesel

The Indian government has abolished the windfall tax on aviation turbine fuel (ATF), crude products, as well as diesel and petrol.

29 Nov 2024
Insurance

Finance Ministry proposes 100% FDI in insurance sector

India's Ministry of Finance has proposed to raise the foreign direct investment (FDI) limit in domestic insurance companies from 74% to 100%.

25 Nov 2024
Parliament

Counterfeit ₹500 notes up 300% in India over 5 years

The Finance Ministry has revealed a shocking rise in the circulation of counterfeit ₹500 notes in India. In the last five years, there has been a whopping 317% rise in these fake notes.

India plans $5B incentive program to boost domestic electronics production

India is gearing up to launch a $5 billion incentive program to boost domestic production of electronic components.

01 Nov 2024
GST

GST collections in October hits 6-month high of ₹1.87L crore

India's Goods and Services Tax (GST) collections for October 2024 have hit a six-month high of ₹1.87 lakh crore, an annual growth of 8.9%.

25 Oct 2024
Nirmala Sitharaman

Finance Ministry doubles PMMY loan limit to ₹20 lakh

The Indian Finance Ministry has announced a major hike in the loan limit under the Pradhan Mantri Mudra Yojana (PMMY).

Finance Ministry begins search for next SEBI chief: Report

The Indian Finance Ministry has begun the search for a possible successor to Madhabi Puri Buch, the Chairperson of the Securities and Exchange Board of India (SEBI).

11 Sep 2024
State Bank of India (SBI)

MTNL might be declared NPA due to loan default

Mahanagar Telephone Nigam Limited (MTNL) is facing a severe financial crisis after defaulting on its loan repayments.

SEBI officials flag 'toxic, humiliating' work culture to Modi government

Officials from the Securities and Exchange Board of India (SEBI) have lodged a complaint with the Finance Ministry, alleging a toxic work environment within the organization.

New PPF rules effective October 1: How they impact you

The Department of Economic Affairs, under the Ministry of Finance, has announced new guidelines for Public Provident Fund (PPF) accounts.

25 Aug 2024
Jio

Jio Financial Services gets nod to increase foreign investment limit

Jio Financial Services has received authorization from the Department of Economic Affairs, Ministry of Finance, to raise its foreign investment limits.

28 Jul 2024
Indian Government

Traveling overseas? Centre says tax clearance certificates are not mandatory

In response to public backlash on social media, the Indian government clarified today that tax clearance certificates are not mandatory for all overseas travelers.

10 Jul 2024
Chennai

Who's Anukathir Surya, IRS officer who changed name, gender officially

In a historic decision, the Ministry of Finance has approved a senior Indian Revenue Service (IRS) officer's request to change her name and gender in all official documents.

24 Jun 2024
Nirmala Sitharaman

Finance Ministry considers raising standard deduction limit in income tax

The Finance Ministry, led by Nirmala Sitharaman, is contemplating an increase in the standard deduction limit for taxpayers under the new regime.

02 Mar 2024
Paytm

Finance Ministry imposes Rs. 5.49cr fine on Paytm Payments Bank

India's Financial Intelligence Unit (FIU) has slapped Paytm Payments Bank, Paytm's banking division, with a hefty penalty of Rs. 5.49 crore for failing to report illegal monetary transactions through its accounts.

23 Feb 2024
Indian Government

I-Soon leak: Chinese hackers target India's government offices, corporates

A Chinese hacker group with ties to the Beijing government has reportedly targeted key Indian government offices, including the Prime Minister's Office, and corporates like Reliance Industries and Air India.

23 Jan 2024
India

Centre hikes import duty on gold, silver jewelery parts 

The Finance Ministry has raised the import duty on gold and silver findings (small parts) and coins of precious metals from 11% to 15%, as per Reuters.

31 Dec 2023
Indian Government

Arvind Panagariya appointed as 16th Finance Commission Chairman

The Indian government has appointed Arvind Panagariya, a former NITI Aayog Vice Chairman and Columbia University professor, as the Chairman of the 16th Finance Commission.

04 Dec 2023
Business

India to become $5tn economy in 'Amrit Kaal': MoS Finance

Pankaj Chaudhary, the Minister of State for Finance, stated that India is poised to become a $5 trillion economy in the early stages of "Amrit Kaal."

21 Nov 2023
Inflation

India may face recession risks in 2024, warns Finance Ministry

The Ministry of Finance's latest monthly review warns of a potential recession in 2024 due to uncertainties surrounding rising food and energy costs amid geopolitical tensions.

16 Nov 2023
India

Finance Ministry to present concise economic report before Interim Budget

The Indian Finance Ministry is planning to release a concise report outlining the nation's economic status prior to the Interim Budget on February 1, Moneycontrol has reported.

Centre begins crediting interest to PF accounts ahead of Diwali

The process of depositing interest into provident fund (PF) accounts for the fiscal year 2022-23 has begun, as reported by the Employees' Provident Fund Organisation (EPFO) in an official announcement.

31 Oct 2023
Indian Government

Centre's fiscal deficit widens to Rs. 7L crore in April-September

The Indian government's fiscal deficit expanded to Rs. 7.02 lakh crore during April-September, up from Rs. 6.43 lakh crore in April-August, as reported by the Controller General of Accounts.