Tag Archives: Finance

GST Collections Rise To Rs. 86,703 Crore In December, Says Finance Ministry

As many as 56.30 lakh GSTR 3B returns have been filed for December, Finance Ministry said. New Delhi: Halting two months of decline, the GST collections gathered momentum in December, rising to Rs. 86,703 crore. “Total revenue Collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs.86,703 crores till January 24 2018,” the ... Read More »

Small Finance, Payments Banks To Offer Atal Pension Yojana To Subscribers

There are 11 Payments Banks and 10 Small Finance Banks that have received license from RBI. New Delhi: The Central government on Friday said “Payments Banks and Small Finance Banks” will offer social security scheme Atal Pension Yojana (APY) to their subscribers. “To strengthen the existing channels of APY distribution, it is felt that these new Payments Banks and Small Finance ... Read More »

Finance Ministry cautions against bitcoin, says ‘virtual currencies are like ponzi schemes’

The Ministry of Finance has cautioned people against investing in virtual currencies and compared them to ponzi schemes. “There has been a phenomenal increase in recent times in the price of Virtual ‘Currencies’ (VCs) including bitcoin, in India and globally. The VCs don’t have any intrinsic value and are not backed by any kind of assets. The price of bitcoin and ... Read More »

Kerala: Late fund transfer affects utilisation, says Finance Department

“Transfer of funds at the fag-end of the year causes rush of expenditure and lapse of fund due to non utilisation,” the source said. (Representational Image) Thiruvananthapuram: Transfer of funds at the fag-end of the fiscal, and short allotment of funds, are just two of the reasons the Finance Department has identified for the poor utilisation of funds by local bodies. ... Read More »

State finance panel comes into being

The State Government has constituted Telangana State Finance Commission and appointed G. Rajesham Goud, former chairperson of Karimnagar Zilla Parishad, as its Chairman. According to officials, Chief Minister K. Chandrasekhar Rao singed a file pertaining to the appointment on Friday. He also appointed M. Chenchaih, a retired Zilla Parishad chief executive officer as a member of the Commission. Mr. Goud ... Read More »

How Blockchain Technology Is Changing The World Of Digital Finance

Everyone knows somebody who refuses to transact in anything but cash. They don’t understand transacting without a physical medium; they enjoy the feeling of control and security that cash brings, as opposed to numbers changing on their phone screens. Anecdotal evidence of a variety of different scams utilising frailties in digital payment systems further encourages this belief. Fraudulent transactions cost ... Read More »

In finance, what is the greater fool theory?

This refers to a theory of asset pricing which states that the price of any financial asset is determined purely by what its buyers are willing to pay for it. In other words, the price of an asset has nothing to do with its underlying fundamental value but depends only on the emotions of buyers. The greater fool theory is ... Read More »

China online finance regulator tells unqualified micro-lenders to stop lending

BEIJING (Reuters) – The National Internet Finance Association of China issued a risk warning letter late on Friday telling “unqualified institutions” to immediately stop offering loans as Beijing steps up a crackdown on the micro-loan sector to fend off financial risks. The 1 trillion yuan ($151.5 billion) short-term, unsecured lending sector, known as “cash loan” in China, has been accused ... Read More »

Cabinet approves new finance panel

Fifteenth Finance Commission will have its task cut out following GST roll-out The Cabinet on Wednesday set the ball rolling for the constitution of the Fifteenth Finance Commission, which will decide the devolution formula for revenue-sharing between the Centre and States from the year 2020 till 2025. The Commission, whose members and terms of reference will be notified soon, will ... Read More »

Bain may partially exit L&T Finance; debt-laden Binani Cements attracts 15 suitors

Private equity giant Bain Capital Partners is looking to partially exit L&T Finance Holdings Ltd through a block deal, a business daily reported Quoting an unnamed person, The Economic Times said that Bain Capital will sell a 2.12% stake for Rs 750 crore. “Bain Capital has given the mandate to Citibank to sell a 2.12% stake in L&T Finance at Rs 180-185 ... Read More »