At a meeting conducted to review the performance of Public Sector Banks (PSBs) on Monday, Finance Minister Nirmala Sitharaman discussed a range of issues including financial parameters, deposit mobilisation, digital payments and cyber security framework.
The finance minister gave a keynote address and handed over degrees to students at the 11th convocation ceremony of the Indian Institute of Science Education and Research (IISER) at Bhopal today.
The proposed amendments will affect the Reserve Bank of India Act, the Banking Regulation Act, and the State Bank of India Act, among others.
Finance Minister Nirmala Sitharaman said the indexation provision was not brought for revenue considerations but for simplification of the system only. The government had yielded to public requests on the issue, she said.
Can only say the intention is to make the tax regime simpler, she said. "Can't say if there will be a sunset on the old regime."
Presenting the Union Budget 2024, Sitharaman said, “To provide relief to cancer patients, I propose to fully exempt three more medicines from customs duties.”
The allocation to the Ministry of Defence (MoD) for FY 2024-25 is higher by approximately Rs one lakh crore (18.43 per cent) over the allocation for FY 2022-23 and 4.79 per cent more than allocation of FY 2023-24.
E-vouchers would be given for this purpose directly to one lakh students every year at an annual interest subvention of 3 per cent of the loan amount.
Delhi Mayor Shelly Oberoi on Saturday requested Union Finance Minister Nirmala Sitharaman to release central government funds for the development and maintenance of the city.
Audio series platform Pocket FM on Monday announced it has completed its first ESOP (employee stock ownership plan) buyback worth $8.3 million.
