finance minister

Govt asks banks to obtain board approval for corporate loans restructuring by September 15

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Govt asks banks to obtain board approval for corporate loans restructuring by September 15

(This story originally appeared in on Sep 04, 2020) MUMBAI: The government has asked banks to obtain board approval for restructuring of corporate loans by September 15 after the K V Kamath-led committee submits its report in the first week. This was communicated to bank chiefs in their review meeting with finance minister Nirmala Sitharaman. … Read more

Centre suggests state governments to borrow Rs 2.35 lakh crore to meet tax shortfall

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Centre suggests state governments to borrow Rs 2.35 lakh crore to meet tax shortfall

NEW DELHI: Union government on Thursday suggested states borrow up to Rs 2.35 lakh crore ($31.8 billion) from the market to meet a tax shortfall, a top finance ministry official said. The federal government could also support the states to raise up to Rs 97,000 crore in loans from the central bank at a lower … Read more