Ministry of Finance: GK, Current Affairs, Questions, Trivia and News

Union Cabinet approves RoDTEP

The Union Cabinet approved the Remission of Duties or Taxes on Export Products (RoDTEP). It is a scheme for exporters to reimburse taxes and duties paid, like value added tax, coal cess and electricity duties which are not exempted or refunded under existing mechanism. Last year, the RoDTEP scheme was announced by the Finance Minister ..

Ajay Bhushan Pandey appointed as the new Finance Secretary of India

The Appointments Committee of the Cabinet has approved the appointment of the current Revenue Secretary Ajay Bhushan Pandey as the new Finance Secretary of India. Ajay Bhushan Pandey replaces current Finance Secretary Rajiv Kumar, who got superannuated last month. The senior-most bureaucrat among all secretaries in the Finance Ministry is usually designated as the finance ..

Debasish Panda appointed as Finance Secretary

Debasish Panda, who is currently serving as the Special secretary in the Department of financial services, Union Finance Ministry has been appointed as the new Finance secretary of the country. As per the Personnel Ministry order, the Appointments Committee of the Cabinet has approved the appointment of the1987-batch IAS officer as the next Finance secretary, ..

NIFM to be renamed after Arun Jaitley

The Indian government has recently announced that it has decided to rename the National Institute of Financial Management (NIFM), Faridabad, as ‘Arun Jaitley National Institute of Financial Management’ (AJNIFM). NIFM, Faridabad was established in 1993 under the Department of Expenditure, Ministry of Finance.  The Union Finance Minister serves as the President of NIFM. It trains ..

Challa Sreenivasulu Setty appointed as MD of SBI

Challa Sreenivasulu Setty, who is currently serving as the Deputy managing director of the country’s largest lender, has been appointed as the managing director of the State bank of India for a period of three years as per the official order released on Monday, 20th January 2020. The appointment was approved by the appointments committee ..

2nd National GST Conference of Central & State Tax Commissioners

Under the chairmanship of Revenue Secretary of Ministry of Finance, Dr. Ajay Bhushan Pandey, The 2nd National GST Conference of the Commissioners of State Tax and Chief Commissioners of Central Tax held on Tuesday, 7th January 2020, where the conference concentrated for streamlining Goods and Services Tax (GST) system and blocking up revenue leakages. Among ..

Ministry of Tourism identified 17 sites for development as Iconic Tourist Sites

The Union Minister of State(independent charge) for Culture and Tourism, Prahlad Singh Patel in a written reply to Lok Sabha on Tuesday, 10th December 2019 informed that the Government has identified some iconic world-class tourist stations in India to attract international and national tourists. 17 sites in 12 clusters from across the country have been ..

PSBs disbursed Rs 4.91 lakh crore under the Customer Outreach Initiative in October and November 2019

In September 2019, the Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, announced the launched the Customer Outreach Initiative by the Public Sector Banks (PSBs) of India. The initiative aimed towards providing support to the needs of the economy by improving credit delivery or the credit outflow with a primary focus on NBFCs, MSMEs, ..