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Time of India
06-07-2025
- Business
- Time of India
Brics Summit 2025: Nirmala Sitharaman holds key bilateral talks with Russia, China, Brazil; calls for deeper South-South cooperation
File photo: Finance minister Nirmala Sitharaman (Picture credit: PTI) Finance minister Nirmala Sitharaman held a series of high-level bilateral meetings with counterparts from Russia, China, Brazil and Indonesia in Rio de Janeiro, reaffirming India's commitment to strengthening cooperation with fellow Brics nations and key emerging economies. The discussions took place on the sidelines of the Brics finance ministers and Central Bank governors meeting. In her meeting with Russian finance minister Anton Siluanov, Sitharaman expressed gratitude for the support extended by President Vladimir Putin after the recent terror attack in Pahalgam. Both leaders reaffirmed the strength of the India-Russia partnership, with Sitharaman describing the relationship as one of "exemplary mutual trust and understanding." — FinMinIndia (@FinMinIndia) They reviewed bilateral financial sector cooperation and matters related to the New Development Bank (NDB). Sitharaman also met her Chinese counterpart, Lan Fo'an, where both sides discussed strengthening collaboration across sectors, rooted in shared civilisational links and expanding economic clout. According to the finance ministry's post on X, the two ministers recalled their last interaction in Samarkand in 2024 and agreed that India and China are 'uniquely positioned to drive inclusive global growth and innovation.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Ford&Go. Extra Bonus di € 1.500 e prima rata a ottobre. Ford Italia Scopri di più Undo Sitharaman emphasised that deeper engagement could amplify the voice of developing economies and help shape narratives aligned with the priorities of the Global South. In her discussion with Thomas Djiwandono, vice finance minister of Indonesia, Sitharaman reiterated India's eagerness to host the next India-Indonesia Economic and Financial Dialogue. She thanked Indonesia for their solidarity following the Pahalgam attack and engaged on topics including Brics, UPI, RuPay, G20, FinTech, and financial markets, ANI reported. During her meeting with Brazilian finance minister Fernando Haddad, Sitharaman discussed bilateral issues such as climate finance, COP30, and collaborative efforts in global institutions like the United Nations, WTO, Brics and G20. She appreciated Brazil's leadership during its Brics Chairship and reaffirmed India's support for Brazil's multipolar world agenda. India is set to take over the Brics Chairship in January 2026. The finance ministry said the two leaders emphasised furthering South-South cooperation and acknowledged the warm ties between India and Brazil. Sitharaman noted that the two countries are 'strategic partners' collaborating across sectors. Earlier, Sitharaman also addressed the board of governors of the New Development Bank (NDB), where she underlined the importance of collective and decisive action by the Global South amid global fiscal and geopolitical uncertainties. She said multilateral development banks (MDBs) like the NDB have a vital role in tackling emerging challenges by offering 'technical expertise, concessional financing, and effective risk mitigation tools.' The minister concluded that India's growing global role, especially within multilateral frameworks like Brics and the NDB, will continue to focus on pragmatic cooperation and inclusive development, particularly for the Global South. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
06-07-2025
- Business
- Time of India
FM Sitharaman holds bilateral talks with Russian, Chinese counterparts on BRICS sidelines
Finance Minister Nirmala Sitharaman held a series of bilateral meetings , including with Russian and Chinese counterparts, and discussed issues of bilateral cooperation and interests. These meetings were held on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Rio de Janeiro. During a meeting with Anton Siluanov , Finance Minister of Russia, Sitharaman expressed gratitude for the support extended by President Vladimir Putin after the Pahalgam terror attack, the finance ministry said in a post on X. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scientists: Tinnitus? When tinnitus won't go away, do this (Watch) Hearing Magazine Undo — FinMinIndia (@FinMinIndia) The two leaders discussed India-Russia long-standing partnership. Live Events The finance minister observed that India and Russia enjoy exemplary levels of mutual trust and understanding and our Special and Privileged Strategic Partnership remains resilient and steadfast, it said. The two sides also discussed issues of bilateral cooperation, including cooperation in the financial sector, along with matters related to NDB. In another bilateral meeting with her Chinese counterpart Lan Fo'an, both leaders discussed strengthening collaboration across a wide range of areas due to the common rich human capital, deep civilisational ties, and expanding economic influence. The two leaders recalled their last meeting in Samarkand in September 2024 on the sidelines of the AIIB Annual Meetings, another post by the finance ministry said. Sitharaman underlined that India and China are uniquely positioned to drive inclusive global growth and innovation as the two nations are the largest and fastest-growing economies in the world. The finance minister suggested that deeper engagement between the two countries can help amplify the voice of developing economies, and shape global narratives that reflect the priorities and aspirations of the global South , it said. During bilateral meeting with Thomas Djiwandono, Vice Finance Minister of Indonesia, Sitharaman said India looks forward to hosting the Indonesia Economic and Financial Dialogue soon. She also thanked Indonesia for their support in the aftermath of the Pahalgam terror attack, a separate post on X by the finance ministry said. The two leaders also discussed BRICS, UPI, and RuPay, G20, MDB Reforms, bilateral trade, tourism, FinTech and financial markets, it said. In the bilateral meeting with Finance Minister of Brazil Fernando Haddad, she discussed issues of bilateral interests. The two leaders discussed issues of mutual interest, including South-South cooperation, amplifying the voice of the Global South, COP30, and climate finance issues, and engagement in regional and global forums such as the United Nations, G20, BRICS, WTO and IBSA, the finance ministry said in another social media post. Appreciating the deep work by Brazil during its BRICS Chairship, including commitment to a multipolar world order, and expansion of BRICS, Sitharaman said India supports the agenda and priorities set by Brazil, and hopes to carry forward the outcome-oriented cooperation when India takes over the Chairship in January 2026. She said India and Brazil, as strategic partners, share warm and cordial ties spanning across multiple sectors, and are cooperating closely in multiple sectors to further strengthen strategic partnership.
News18
26-06-2025
- Business
- News18
Explained: What Is Pradhan Mantri Suraksha Bima Yojana And How To Apply
Last Updated: The scheme is especially helpful for economically weaker sections who may not be able to afford high insurance premiums. The Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a government-backed accident insurance scheme aimed at providing affordable financial protection to India's working population. Launched in 2015, the scheme has seen a 443 per cent growth in enrolment, rising from 9.40 crore in March 2016 to 51.06 crore by April 2025, according to the Ministry of Finance. Ensure financial stability for your loved ones with PM Suraksha Bima Yojana! Cumulative enrolments under PMSBY have risen by 443%, from 9.40 Cr in March 2016 to 51.06 Cr in April 2025. Affordable security at just ₹20 per year! #10YearsofJansurakshaSchemes #10YearsofPMSBY — Ministry of Finance (@FinMinIndia) May 9, 2025 What Does PMSBY Offer? PMSBY offers accident insurance coverage at a very low cost: – Premium: Rs 20 per year Coverage: – Rs 2 lakh in case of accidental death or total disability – Rs 1 lakh for partial permanent disability The scheme is especially helpful for economically weaker sections who may not be able to afford high insurance premiums. Who Can Apply? Anyone can apply who: – Is between 18 and 70 years of age – Holds a savings account in a bank or post office The policy is renewed annually and the premium is automatically deducted every year from the account holder's linked bank account. How to Apply? You can apply both offline and online. Offline Method: – Visit your bank branch or post office where you hold a savings account. – Ask for the PMSBY form or download it from your bank's website or – Fill in your personal details like name, address, DOB, nominee name and relationship and account number. – Submit the form and consent for auto-debit of the Rs 20 premium. Online Method: – Log in to your bank's net banking portal. – Locate the PMSBY option under insurance or services. – Follow the instructions and give auto-debit consent. In case of a claim due to death or disability, the following documents are needed: – Aadhaar card – e-Shram card or UAN – FIR copy of the accident – Death or disability certificate – Medical certificate – Cause of death statement (if applicable) Who Runs the Scheme? PMSBY is offered through public and private insurance companies, in tie-up with scheduled commercial banks, regional rural banks and cooperative banks. The government regularly monitors claim settlements and addresses complaints with the help of banks and insurers. Key Initiatives for Wider Coverage To promote enrolment and awareness: – Local Gram Panchayat-level campaigns – Financial literacy driven by the RBI's Centre for Financial Literacy – Around 13 lakh Banking Correspondents (BCs) help with the last-mile service – 107 Digital Banking Units provide doorstep services Online platforms like Jan Samarth, PSB Loans in 59 Minutes and Stand-Up Mitra make credit and schemes easily accessible PMSBY is part of the government's broader push for financial inclusion and social security for all. With growing enrolments and increased awareness, the scheme aims to offer every citizen a basic safety net at a minimal cost. About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! First Published:
India.com
12-06-2025
- Business
- India.com
Fees on UPI payments of more than…? govt makes BIG revelations, says…
UPI payment- File image There were media reports that claimed that it is considering reintroducing MDR (Merchant Discount Rate) on UPI transactions above Rs 3,000. While smaller UPI payments will be exempted from it, larger transactions could potentially attract merchant fees, as claimed in the report. Some media reports had speculated that MDR might be reintroduced for transactions above Rs 3,000. They also claimed that it was for the banks and payment providers to manage their growing costs. The proposed MDR was reportedly based on transaction value, not merchant turnover, and exempt smaller payments. The reports also claimed this change could replace the zero-MDR policy implemented in January 2020. Govt On UPI Payment Fees The government clarified that it has no plans to introduce new regulations for UPI transactions. According to the government, such claims are baseless and unfounded. Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading. Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed… — Ministry of Finance (@FinMinIndia) June 11, 2025 Ministry Of Finance Said, ''Speculation and claims that the MDR will be charged on UPI transactions are completely false, baseless, and misleading. Such baseless and sensation-creating speculations cause needless uncertainty, fear and suspicion among our citizens. The Government remains fully committed to promoting digital payments via UPI.'' Before the government issued its denial, some media outlets reported that banks and payment service providers had expressed concerns about the rising costs of managing large digital transactions. UPI currently accounts for about 80% of retail digital payments in India. The zero-MDR policy has reduced incentives for investment in the sector. Since 2020, UPI person-to-merchant transactions have reached a value of Rs 60 lakh crore in these cases large transactions are borned by the service providers.
NDTV
04-06-2025
- Business
- NDTV
ITR-1 And ITR-4 Online Filing Now Open For AY 2025-26; Deadline Extended To September 15
Quick Read Summary is AI generated, newsroom reviewed. The Income Tax Department of India has launched online filing for ITR-1 and ITR-4 forms. Taxpayers can now prepare and submit returns for FY 2024-25 via the e-filing portal. The deadline for filing ITR-1 and ITR-4 has been extended to September 15 from July 31. The Income Tax Department of India has enabled online filing of income tax returns for FY 2024-25 through ITR-1 and ITR-4 forms on its e-filing portal. Salaried individuals, pensioners, freelancers, and small business owners can now prepare and upload their returns online. "Kind attention, taxpayers! Income Tax Return Forms of ITR-1 and ITR-4 are now enabled to be filed through Online mode with prefilled data for Assessment Year 2025-26 for taxpayers. Visit the Income Tax department said in a post on X. Kind attention taxpayers! Income Tax Return Forms of ITR-1 and ITR-4 are now enabled to file through Online mode with prefilled data for Assessment Year 2025-26 for taxpayers. Visit: @FinMinIndia @nsitharamanoffc @officeofPCM @PIB_India — Income Tax India (@IncomeTaxIndia) June 3, 2025 The last date to file income tax returns in ITR-1 and ITR-4 has been extended this year to September 15 from July 31. Who can use ITR-1 and ITR-4? ITR-1 (Sahaj) is designed for resident individuals with income up to Rs 50 lakh from salary, one house property, interest, or pension. ITR-4 (Sugam) suits individuals, HUFs, and firms (excluding LLPs) with income up to Rs 50 lakh from business or profession under presumptive taxation. These forms cater to a large number of taxpayers, simplifying the filing process for salaried individuals, small businesses, and professionals. They're user-friendly and efficient. The ITR-1 and ITR-4 forms are filed by individuals, HUFs and entities with total income up to Rs 50 lakh a year and who do not have to get their accounts audited. Also, entities with long-term capital gains of up to Rs 1.25 lakh from listed equities can show such income in ITR 1 and 4. Earlier, they were required to file ITR-2. For now, individuals requiring ITR-2 or ITR-3 forms will have to wait, as the current release only includes utilities for ITR-1 and ITR-4 forms.
