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HISTORICAL FACTS: Ministry of finance | History Defined

Waiver of recovery of excess amount paid to central government employees: Finance Ministry to examine proposal to simplify the process

Central government employees' union requested simpler recovery waivers for excess payments. The DoE secretary assured examination of these demands with DoPT. Audits often identify past overpayments, leading to salary deductions. NC-JCM argues these are administrative errors, not employee fault. They propose delegating waiver powers to department heads for faster resolution.

The Economic Times

Do you lose your interest and deposit if you have multiple PPF accounts? Here's what the rules say

Discovering you have two Public Provident Fund accounts can be a common oversight, but it's crucial to address. Indian regulations strictly permit only one personal PPF account. Learn how to identify and regularize duplicate accounts, understand the implications for your deposits and interest, and what steps to take to avoid…

The Economic Times

Business Brief (June 3): U.S. Cuts Tariffs on Farm Equipment

Tencent Cloud slashes AI prices, Ministry of Finance allocates childcare subsidies

Caixin Global

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Have unclaimed deposits, insurance, mutual funds? Government launches single portal to trace forgotten assets

The Ministry of Finance has launched a new portal to help citizens find forgotten money. This initiative, called 'Your Money, Your Right', allows people to trace unclaimed bank deposits, insurance policies, and mutual fund investments. It also helps shareholders claim unpaid dividends and shares.

The Economic Times

Dragon blow: China's spending in April at 6-month low

A broad measure of public expenditure fell 7.3% from a year ago, accelerating from the 2.5% decrease in March to mark its sharpest decline since October, according to Bloomberg calculations based on Ministry of Finance data released Wednesday. By contrast, broad fiscal revenue rose 2%.

The Economic Times

Balmer Lawrie shares tumble 6% after board says no to bonus issue, stock split & share buyback proposals

Balmer Lawrie & Company's shares fell over 6% after the board decided against a proposed bonus issue, stock split, and share buyback, citing compliance with Ministry of Finance guidelines. The company did recommend a dividend of Rs 4.25 per share for FY26, while reporting a 12% year-on-year rise in Q4…

The Economic Times

Better recoveries, low slippages pull down PSU banks write-offs to multi-year lows in FY26

Public sector banks in India saw loan write-offs fall to multi-year lows in fiscal year 2025-26. This positive trend is attributed to fewer new bad loans and better recovery of existing ones. Banks like Bank of Baroda and Punjab National Bank reported their lowest write-offs in years. This signifies a…

The Economic Times

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Railway pensioners get DR hike: What will be monthly increase in their pension after dearness relief increases?

Railway pensioners and family pensioners will receive a Dearness Relief hike. Their relief will increase from 58% to 60% of their basic pension. This change takes effect from January 1, 2026. This move aims to compensate for rising prices. The increase will boost monthly pensions for millions of retirees across…

The Economic Times

UAE News: Up to 50% tax credit announced for businesses under new Tax Incentive Rules 2026

The UAE Ministry of Finance has introduced a significant tax incentive. Businesses can now claim up to 50% tax credit on research and development spending. This move aims to reduce the tax burden for innovative companies. It will strengthen the UAE's position as a global hub for technology and advanced…

The Times of India

Luxembourg Invests In Bitcoin, Allocates 1% Of Sovereign Wealth Fund Portfolio

Luxembourg's Ministry of Finance confirmed that its Intergenerational Sovereign Wealth Fund (FSIL) has allocated 1% of its portfolio to Bitcoin (CRYPTO: BTC), marking the nation's first official exposure to the asset class.

Benzinga

Dollar Pushes Higher on Hawkish Fed and US Economic Strength

The dollar index (DXY00 ) on Wednesday rose by +0.65% and posted a 1.5-week high. The dollar rose on Wednesday, with positive carryover from Tuesday, when Fed Chair Powell offered no hints on whether he would support a rate cut at next month's FOMC meeting, signaling that the Fed may...

Barchart

Dollar Gains on Concerns about Less-Dovish Fed

The dollar index (DXY00 ) today is up by +0.63% at a 1.5-week high. The dollar is climbing today on positive carryover from Tuesday when Fed Chair Powell offered no hints on whether he would support a rate cut at next month's FOMC meeting, signaling the Fed may be less...

Barchart

Asian Stocks Rally Fades As Japan Debt Sale Disappoints

Asian equities wobbled Wednesday as investors struggled to track a Wall Street rally fuelled by forecast-beating US consumer confidence data, with a weak Japanese debt sale adding to worries about rising bond yields.

International Business Times

Public-Private Partnerships Without Borders: Shukhrat Safarov’s Vision for Global Economic Development

When Tajikistan’s Ministry of Finance revised its national tax code and public investment strategy in the early 2020s, a key influence behind its innovative shift wasn’t a high-level government official or an international consulting firm

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Dynamite News

Qatar vows USD 10 billion investment in India

Following the visit of Qatar's Amir, Sheikh Tamim Bin Hamad Al Thani, India and Qatar have taken a significant step forward in their bilateral relations. Read further on Dynamite News:

Dynamite News

Read full List: Huge reshuffle in Union Bureaucracy; many Secretaries changed; Rachna Shah appointed as New Secretary of DoPT, Arunish Chawla as Revenue Secretary, Vineet Joshi as Higher Education

The Appointments Committee of the Cabinet (ACC) has approved transfers of many senior IAS officers on Wednesday. Read full list on Dynamite News:

Dynamite News

Major Reshuffle in Union Bureaucracy: Nagaraju Maddirala will be DFS Secretary, Deepti Umashankar Secretary to the President of India, Rajesh Singh Defence Secretary, Katikithala Srinivas Secretary MoHUA, Punya Salila Srivastava Health, Amardeep Singh Bhatia Secretary DPII and Vivek Joshi appointed as Secretary DoPT

Narendra Modi Government on Friday approved a series of significant appointments in various departments including Nagaraju Maddirala as the new Secretary of Department of Financial Services (DFS).

Dynamite News

Huge reshuffle in Govt of India, Vivek Joshi appointed as Secretary, DoPT

Vivek Joshi has been appointed as Secretary, in The Department of Personnel and Training in Central Government. Read further on Dynamite News:

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International Business Times

Transitional Ruling Council Finally Forms In Anarchic Haiti

A governing council tasked with filling a leadership vacuum in Haiti and restoring a semblance of order was formerly installed Friday in the Caribbean nation that has been rocked by an explosion of gang violence.

Barchart

Dollar Modestly Higher on Weakness in the Euro

The dollar index (DXY00 ) this morning is up by +0.09%. Dovish ECB comments today undercut the euro and gave the dollar a boost. Gains in the dollar are limited after the yen recovered from a 33-year low and moved higher on speculation that Japanese authorities may soon intervene in...

The Hindu

Roadmap for 2047 should include an average growth of 7% to 7.5%, says senior Finance Ministry official

India aims to become a developed nation by 2047, with a focus on financial sector reforms to create stability, resilience and efficiency.

The Independent UK

United States and China launch economic and financial working groups with aim of easing tensions

The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations

The Hindu

Details of unaccounted-for wealth highly classified: Government

National Institute of Public Finance and Policy (NIPFP) refused to reveal information on unaccounted income/wealth inside/outside India, citing economic interest of country.

The Hindu

Andhra Pradesh: Finance Ministry approves proposal to release ₹12,911 crore for completion of Polavaram project up to 41.15 metres

The Ministry of Finance gives its in-principle nod for release of ₹2,000 crore towards the cost of repairing the damages caused to the irrigation project by the Godavari floods

Bangkok Post

BoT to regulate auto leasing

The cabinet on Tuesday approved a law to allow the Bank of Thailand to regulate the business of leasing cars and motorcycles to strengthen consumer protection and tackle household debt, the Ministry of Finance said.

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