Page 27 - Latest Updates on Nirmala Sitharaman
Many districts lack bank branches despite high economic activity: FM
Union Finance Minister Nirmala Sitharaman said despite the huge thrust on financial inclusion and high economic activity, there are districts in the country not having any banking presence at all.
 "Many districts lack bank branches despite high economic activity: FM")
India needs 4-5 more SBI sized big banks, says FM Sitharaman
There is an urgent need to scale up banking to meet the growing needs of the industry, she said
 "India needs 4-5 more SBI sized big banks, says FM Sitharaman")
'Economy shifting to different plane', India needs big banks: Sitharaman
The National Asset Reconstruction Company, cleared by the cabinet 10 days ago, should not a be called "bad bank", Finance Minister tells banks association.
 "'Economy shifting to different plane', India needs big banks: Sitharaman")
Confidence growing in stock market, says FM Nirmala Sitharaman
FM said the market has its own understanding of what it deals with the companies
 "Confidence growing in stock market, says FM Nirmala Sitharaman")
Made additional efforts to clear Punjab's GST dues: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman on Friday said she made additional efforts to clear Punjab's pending GST dues of more than Rs 1,400 crore, which should be recognised
 "Made additional efforts to clear Punjab's GST dues: Nirmala Sitharaman")
Indian economy on sustained path of revival: Finance Minister Sitharaman
She said that the confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market.
Infosys says new I-T portal clocked 30 mn logins, 15 mn ITRs filed so far
Infosys says it acknowledges the difficulties some users continue to experience and says it is working 'expeditiously'
 "Infosys says new I-T portal clocked 30 mn logins, 15 mn ITRs filed so far")
Finance Ministry to kick-start budgetary exercise from October 12
The finance ministry will kick-start the exercise to prepare the annual Budget for 2022-23 from October 12 amidst signs of revival of the Indian economy hit hard by the COVID-19 pandemic.
Swiggy, Zomato to pay GST from Jan; expensive life-saving drugs exempted
GST Council decides against inclusion of petroleum
GST Council extends levy of compensation cess till March 2026
The GST Council has agreed to levy compensation cess for an extended period upto March 2026 to enable the Centre to repay the loans, to compensate states for GST collection shortfall
 "GST Council extends levy of compensation cess till March 2026")
GST Council extends concessions on certain Covid drugs till Dec 31: FM
The all-powerful GST Council on Friday extended concessional tax rates on certain Covid-19 drugs by three months till December 31
Swiggy, Zomato to pay GST on restaurant service supplied through them: FM
Sitharaman said 5% GST will be levied at the point where the delivery is made by Swiggy-like operators
Focus now on faster NPA resolution to ensure NARCL's success: Analysts
Analysts expect the 'bad bank' to improve the balance sheet of banks, and aid incremental cash flow. However, a delayed resolution may dent the asset's value over time
 "Focus now on faster NPA resolution to ensure NARCL's success: Analysts")
The Morning Show, Ep 1: Jet Airway, Indian economy, and the middle class
Is the economic recovery at the cost of the middle class? Will Jet Airways' take-off after a lull be smooth? Is stock frenzy based on irrational exuberance? Listen to this podcast for answers
 "The Morning Show, Ep 1: Jet Airway, Indian economy, and the middle class")
Govt backs NARCL with Rs 30,600-crore guarantee for five years
Stressed assets of about Rs 2 trillion to be acquired in phases
NARCL: Another brick in the wall; not too different from other ARCs
Having several routes for NPA resolution has both advantages and disadvantages as the decision will finally be taken by the banks
 "NARCL: Another brick in the wall; not too different from other ARCs")
FM Nirmala Sitharaman announces over Rs 30,000 cr guarantee for bad bank
Banks have identified bad loans worth Rs 90,000 crore to be transferred to NARCL in the initial phase, says Finance Secretary Debasish Panda
 "FM Nirmala Sitharaman announces over Rs 30,000 cr guarantee for bad bank")
GST Council meet on Friday; rate review, concession to Covid drugs on cards
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items
 "GST Council meet on Friday; rate review, concession to Covid drugs on cards")
Sitharaman to address media at 5pm, may speak on bad bank proposal
Finance Minister to speak in Delhi ahead of GST council meeting in to Lucknow tomorrow.
 "Sitharaman to address media at 5pm, may speak on bad bank proposal")
Trust between govt and industry critical, says FM Nirmala Sitharaman
Sitharaman encouraged continuous feedback and inputs from India Inc, and said discussions with industry had enabled the government to take a series of actions as the pandemic situation evolved
