Finance Minister Nirmala Sitharaman on June 25 said the Centre is in talks with the Reserve Bank of India (RBI) on the subject of one-time restructuring of loans to provide relief to companies that are reeling under stress due to the unprecedented economic fallout from the COVID-19 pandemic. Sitharaman said the Centre was also looking […]
FM Sitharaman in talks with RBI on restructuring of loans Read More »
As per the Scheme, the guarantee cover worth Rs. 20,000 crores will be provided to the promoters who can take debt from the banks to further invest in their stressed MSMEs as equity, an official release said. This Scheme seeks to extend support to the promoters of the operational MSMEs which are stressed and have
India received USD 51 billion in foreign investment in 2019 and was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019, according to a report by the UN’s trade body. The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in
In a relief to millions of construction workers during the nationwide lockdown, states have disbursed Rs 4957 crore to two crore building and construction workers till date following an advisory from the labour ministry in March. “About 1.75 crore transactions were done directly into the bank accounts of the workers through direct benefit transfer (DBT)
States disbursed Rs 4957 crore to two crore construction workers Read More »
The 40th GST Council was held on 12th June 2020 with major relaxations given to MSME taxpayers. A reduced interest at 9% will be charged for any further delay in the filing by small taxpayers beyond 6th July 2020 until 30th September 2020. Further, no late fee will be charged for nil GSTR-3B pertaining to
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How to operate CA firms and other firms during lockdown Read More »
Icai given notifications stating that students can opt out from july 2020 attempt and opt in for nov 2020 attempt. In this case, the examination fees and exemption, if any, of the particular student will automatically be shifted and carried forward to next examination i.e. November 2020 cycle and this attempt (May 2020) will be
ICAI given option to CA students to option to opt out from july 2020 exam Read More »
India’s foreign exchange reserves have soared past half a trillion dollars, helped by a rebound in equity flows and foreign direct investment deals. Forex exchange reserves rose to $501.7 billion for the week ended June 5, up by $8.22 billion. This is the highest level of forex reserves India has ever held. Big contributor of
The RBI has proposed an upper age limit of 70 years for CEOs and whole-time directors of banks and a maximum term of 10 years for those belonging to the promoter group, as part of the exercise to improve governance in the banking sector. RBI said that “10 years is an adequate time limit for
RBI put restriction on promoters becoming CEO and WTD Read More »
The government on June 10, 2020, released Rs 6,195.08 crore to 14 states as the third equated-monthly instalment of the post devolution revenue deficit grant as recommended by the 15th Finance Commission. This would provide them additional resources during the corona crisis. States — Andhra Pradesh, Assam, Himachal Pradesh, Kerala, Manipur, Meghalaya, Mizoram, Nagaland, Punjab,