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The Latest Breaking News from Finance Ministry

Finance Ministry clarifies on legislative developments concerning govt's IDBI Bank stake

The Finance Ministry clarified the legislative developments regarding IDBI Bank's government stake in 2003. An amendment to restrict the dilution of the government's ownership was proposed but ultimately rejected during parliamentary discussions. The ministry highlighted that this issue was previously examined by the Delhi High Court. This examination took place…

The Economic Times · Oct 17

RBI approves merger of Emirates NBD's India branches with RBL Bank

The Reserve Bank of India has approved the merger of Emirates NBD Bank's Indian branches with RBL Bank. This amalgamation will officially take effect on December 1, 2026, according to the central bank's announcement. Emirates NBD Bank initially opened its first Indian branch in Mumbai in 2017, expanding later to…

The Economic Times · Oct 16

Railway employees to get Rs 17,591 annual bonus: But why other central government employees get just Rs 6,908

Indian Railway annual bonus: The central government has announced a Productivity Linked Bonus for non-gazetted Railway employees for FY 2025-26. Railway employees will receive a bonus calculated at 78 days' basic wages, amounting to Rs 17,951. In contrast, other central government employees receive a significantly lower bonus calculated at 30…

The Economic Times · Oct 15

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Russia funnels nearly half its budget into defence, cutting social spending

Russia’s 2027 draft budget allocates a record share to defence and security, as regions quietly divert funds for foster children and orphans to war payments and “coffin money” for soldiers’ families is cut by up to 95% in some areas.

Euronews · Oct 13

DA hike for central government employees: AIDEF urges cabinet secretary, Finance Ministry to announce DA hike soon, increase in bonus ceiling

DA hike: Central government employees and pensioners are in eager anticipation of the upcoming announcement regarding the dearness allowance and relief hike. The All India Defence Employees’ Association is urging the government to speed up this declaration. They also propose a significant increase in the performance-linked bonus ceiling, from Rs…

The Economic Times · Oct 12

GPF interest rate for October-December 2026 quarter: Has Finance Ministry changed GPF rate from 7.1%?

The Ministry of Finance has set a 7.1% interest rate for the General Provident Fund, which will be applicable from October 1 to December 31, 2026. This rate will also extend to other funds linked to government establishments. The Finance Ministry evaluates the GPF interest rate every quarter, ensuring consistent…

The Economic Times · Oct 9

Centre plans faceless CGST scheme in 3-4 months, seeks to cut taxpayer-officer interface

The Centre plans to launch a pilot faceless scheme under the Central Goods and Services Tax. The aim of the scheme is to reduce direct interactions between taxpayers and tax officers significantly. Cases will be assigned using technology, including artificial intelligence and data analytics for efficiency. This new framework draws…

The Economic Times · Oct 6

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Has government increased SSY, PPF, NSC, other small savings schemes' interest rates for October-December 2026 quarter?

The Ministry of Finance has announced that the interest rates for small savings schemes will remain steady for the next quarter. This decision comes after two years of rate stability since December 2024. The review took into account inflation and bond yields, which hinted at possible rate increases. However, the…

The Economic Times · Sep 30

Russia's finance ministry raises taxes to bolster Putin's military budget

More frequent long-range strikes by the Ukrainian armed forces on strategically important targets, as well as growing spending to counter these attacks, are further deepening Russia's budget deficit.

Euronews · Sep 27

Did government order banks to stock ATMs ahead of UPI charges? Here’s what PIB said

A newspaper clipping claiming banks were told to increase ATM cash stocks ahead of UPI fees has circulated online, prompting a government fact check. PIB said neither the RBI nor the Finance Ministry issued such an instruction. The clarification comes as a revised UPI framework introduces MDR for specified higher-value…

The Economic Times · Sep 23

Bank Strike September 28-30: Why will banks remain closed for 3 days? Check services that may be affected

Bank Strike September 28: UFBU has said its proposed nationwide bank strike from September 28 to 30 will go ahead after a conciliation meeting with the Deputy Chief Labour Commissioner remained inconclusive. The unions, which claim to represent around 90% of bank employees, are primarily seeking a five-day banking week,…

The Economic Times · Sep 22

Finance Ministry rejects US pressure claims over new UPI MDR, says RuPay has no special edge

India's Finance Ministry rejects claims of US influence on UPI payment charges. The new framework prioritizes RuPay credit cards for UPI transactions. This move aims to foster domestic competition and create a sustainable revenue model. Small merchants and certain transactions will remain exempt from the new charges. The government emphasizes…

The Economic Times · Sep 17

Germany Wants To End Bitcoin's Tax-Free Perk. Long-Term Holders Could Soon Face A 26% Tax.

Crypto bought before the end of 2026 would keep Germany's existing treatment, while newer holdings would be taxed regardless of how long investors keep them.

International Business Times · Sep 9

Nirmala Sitharaman pushes deeper India-EU economic ties, critical supply chains

Finance Minister Nirmala Sitharaman met European Commissioner Valdis Dombrovskis to deepen economic ties. They discussed trade, technology, and supply chain resilience cooperation. Sitharaman also met South Korean Deputy Prime Minister Koo Yun-cheol for bilateral talks. Both nations aim to strengthen economic and financial cooperation further. Discussions included investment, critical minerals,…

The Economic Times · Sep 2

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The Economic Times · Sep 2

Nirmala Sitharaman, World Bank chief Ajay Banga hold meeting, discuss deepening cooperation

The things the FM and the World Bank chief discussed included a significant role of MIGA in boosting corporate and infrastructure finance. They also explored the utilisation of technology for advancing agricultural practices and tourism development, aiming at harnessing global knowledge and private capital for progress.

Bangkok Post · Aug 17

Slower Q2 growth close to ministry's earlier estimate

The slower economic growth in the second quarter was close to the Finance Ministry's previous estimate and confirmed the outlook anticipated by the economic team, particularly regarding the impact of the Middle East conflict, which began in late March and affected the economy in waves throughout the second quarter, says…

The Economic Times · Jul 29