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| 09 August, 2020, 01:59 AM IST | E-Paper
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    UP revenue collection improves in July due to financial discipline: State FM

    Giving credit for this recovery to the financial management and discipline as well as directives of Chief Minister Yogi Adityanath, he said that despite the challenge posed by coronavirus pandemic which has had an adverse impact on all financial activities, the state has managed to pay the salaries and pension to its staff in time without delay.

    North Eastern Development Finance Corporation Ltd announces new Interest Rate Structure

    NEDFi added that the new Interest Rate Structure will be called External Benchmark Rate (EBR) and henceforth, all new loans above Rs.100 lakh sanctioned by the Corporation will be linked to EBR. Presently the EBR, linked with SBI’s 1-year MCLR is 7% and a spread of 0 to 6% shall be charged over and above the EBR depending on the credit rating as well as other viability parameters of the project.

    PM to launch financing facility of Rs 1 lakh cr under Agriculture Infrastructure Fund on Sunday

    The fund is expected to catalyse the creation of post-harvest management infrastructure and community farming assets such as cold storage, collection centres and processing units

    GST collection in West Bengal improving with growing economic activities: Official

    "The collection of the gross GST (Central GST, State GST, Integrated GST and cess) from centrally-administered assessees in West Bengal stood at Rs 1,212.44 crore in July, while the indirect tax revenues in April and May this year were at Rs 345 crore and Rs 745 crore respectively," the official said.

    RBI gives affordable housing, rural lending second boost with Rs 10,000 crore facility

    The facility to the NHB is to shield the housing sector from liquidity disruptions and augment the flow of finance to the sector through housing finance companies, RBI governor Shaktikanta Das said in a statement. While the funds to Nabard will help ameliorate the stress being faced by smaller NBFCs and microfinance institutions in obtaining access to liquidity

    PNB Housing Finance appoints ex-SBI Card head Hardayal Prasad as new MD and CEO

    "Following an extensive executive search that considered internal and external candidates, its board of directors has appointed Hardayal Prasad as Managing Director and Chief Executive Officer of PNB Housing Finance Ltd," it said in a release. Prasad will assume the charge on August 10, the bank said.

    View: Reserve Bank of India’s loan restructuring; atoning past sins

    After months of debate, Governor Das unveiled one that rested on the Prudential Framework for Resolution of Stressed Assets issued in June 2019, a palatable formula born out of a legal tussle between bankrupt borrowers and a regulator entrusted with safeguarding the common man’s nest egg.

    Scrutiny of income tax returns reduced to 0.25 pc in assessment year 2018-19: FinMin

    The level of scrutiny has reduced to 0.25% of all returns filed in 2018-19, versus 0.71% in 2015-16, according to details issued by the finance ministry. The scrutiny rate is the lowest in the past four assessment years. In 2016-17, 0.40% of returns filed were scrutinized while in 2017-18, 0.55% of the cases were taken up for scrutiny.

    10 things to know about India's new gold playbook: What's in it for you and the govt?

    The gold monetisation scheme was launched in 2015 with the aim of turning unused gold lying idle in India’s households into a productive asset.

    GST mop-up in July at Rs 87,422 crore, slips from June collections

    "During the previous month, a large number of taxpayers also paid taxes pertaining to February, March and April 2020 on account of the relief provided due to COVID-19," the finance ministry said in a statement Saturday.

    States should not be made to bear the burden of borrowing: Punjab FM Manpreet Badal

    States should not be made to bear the burden of borrowing: Punjab FM Manpreet Badal

    “States should not be made to bear the burden of borrowing, which in any case is likely to be higher than the rate at which the central government will be able to borrow,” Badal said in the letter dated July 3, a copy of which was seen by ET.

    India not close to situation for debt monetisation, says former RBI chief Subbarao

    India not close to situation for debt monetisation, says former RBI chief Subbarao

    Generally, monetisation of debt means the central bank printing currency for the government to take care of any emergency spending and to bridge its fiscal deficit.

    Economic indicators positive, not perturbed by negative GDP forecasts: HDFC chairman Deepak Parekh

    Economic indicators positive, not perturbed by negative GDP forecasts: HDFC chairman Deepak Parekh

    "Signs of the wheels of the economy beginning to churn are evident from the following facts: unemployment rates have tapered down from their peaks in May, e-toll collections are higher, as are e-way bills, digital transactions and GST collections which are back to the Rs 90,000 crore levels.

    Counterfeit products create Rs 1-lakh-cr hole in economy, incidents up 24% in 2019: Report

    Counterfeit products create Rs 1-lakh-cr hole in economy, incidents up 24% in 2019: Report

    The report also said counterfeiters are having a free-run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand.

    AIIB to step up lending in India; plans to approve loans worth USD 3 billion in next 12 months

    AIIB to step up lending in India; plans to approve loans worth USD 3 billion in next 12 months

    India is the largest borrower, which accounts for 25 per cent of the total lending by Asian Infrastructure Investment Bank (AIIB) so far, the bank's vice president D J Pandian told in an interview.

    India-UN Development Partnership Fund supports projects to respond to Covid-19

    India-UN Development Partnership Fund supports projects to respond to Covid-19

    Established in 2017, the India-UN Development Partnership Fund is a dedicated facility within the United Nations Fund for South-South Cooperation. It is supported and led by the Government of India, managed by the United Nations Office for South-South Cooperation, and implemented in collaboration with the United Nations system.

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