Finance Ministry News

These eligible people are Central government employees who have retired, passed away, or retired early under specific government rules (Fundamental Rules 56 (j)) on or before March 31, 2025, and who completed at least 10 years of service while covered under the National Pension System (NPS).  

A staggering 55.44 crore Jan Dhan accounts have been opened in India, 56 per cent of which belong to women, and the total amount in these deposits has surpassed Rs 2.5 lakh crore as of May 21 this year, as per RBI Deputy Governor said. 

Aadhaar Authentication For IBPS Exams: This approval came after consultation with the Unique Identification Authority of India (UIDAI) and a final go-ahead from the Ministry of Electronics and Information Technology (MeitY). 

Finance Minister Sitharaman also underlined the potential areas for collaboration between the UK and India, especially in the domain of business and investments. 

One State, One RRB Policy: These banks collectively operate more than 22,069 branches, covering 700 districts, with nearly 92% of them located in rural and semi-urban areas.  

A Ministry of Finance release said that the export/import through personal carriage shall be subject to the provisions of Foreign Trade Policy (FTP) 2023 and Handbook of Procedures (HBP), 2023.

For the financial year 2023-24, an obligation of a total of $97 million (about Rs 825 crore) has been made by the US Agency for International Development (USAID) under the seven projects, the Finance Ministry report stated.

Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 21.

Unified Pension Scheme Notification 2025: The Unified Pension Scheme is applicable to Central Government employees already enrolled in the NPS and will be available to those who have completed at least 10 years of qualifying service.

In alignment with the 15th Finance Commission's recommendations, the DoE has also strengthened state finances by facilitating additional borrowing capacities, performance-linked incentives, and grants for disaster recovery, healthcare, and regional development.

GST Council Meeting Highlights: The Council recommended reduction of payment of pre-deposit for filing an appeal before the Appellate Authority in respect of an order passed which involves only penalty amount. 

Pradhan Mantri Suraksha Bima Yojana: The Ministry added that Pradhan Mantri Jan Dhan Yojana (PMJDY) has become a cornerstone of financial inclusion with more than 54 crore beneficiaries, empowering unbanked citizens nationwide. 

Outgoing RBI Governor Shaktikanta Das has highlighted the wide-ranging 'consultative approach' and the emphasis on the need for financial inclusion during his 6-year tenure. 

Earlier, the committee approved Urban Flood Risk Mitigation Projects in seven cities at a total outlay of Rs 3,075.65 crore and Glacial Lake Outburst Flood (GLOF) risk management projects in four states at a total outlay of Rs 150 crore from the NDMF. 

Prior to this, CGM posts were available in six out of eleven nationalized banks. 

The finance ministry in an office memorandum (OM) has directed banks to ensure timely disbursement of pensions and family pensions, i.e by the end of every month.

Following the Budget announcement, the CBDT and CBIC issued the necessary orders to raise the monetary limit for filing appeals in their respective domains. 

Big boost to LGBTQIA+ Couples! Finance ministry says they can open joint bank account and even name their partners as nominee.

In the Finance Bill, Sitharaman proposed a flat long-term capital gains tax of 12.5 percent with no indexation benefits.