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China's pursuit of global finance
These columns have regularly followed the ongoing liberalisation of China’s financial sector and progress in the internationalisation of the Chinese currency (see, for instance, “Translating Economic Scale into Financial Heft”, Business Standard, December 19, 2019).
Finance Ministry to infuse Rs 3,000 crore in general insurance companies this quarter
The Finance Ministry will infuse Rs 3,000 crore capital into state-owned general insurance companies during the current quarter in a bid to improve their financial health. Last year, the Union Cabinet headed by Prime Minister Narendra Modi cleared proposal to provide capital support to National Insurance, Oriental Insurance and United India Insurance.
15th Finance Commission allocates Rs 1.5 lakh crore in grants to urban local bodies
Entry conditions are set for 4,500 ULBs to access the FC grants. It is now mandatory for them to publish accounts and notify floor rates for property tax. This is expected to build confidence among investors and catalyse the market for future municipal bond issues, experts say.
Vested Finance that allows Indians to invest in US stock market raises $3.6 million
Vested processed more than $100 million in trades in 2020 and more than half of the investors using the platform are investing in the US market for the first time, the company has said .
Small Finance Banks gear up for expansion, higher disbursements
With collection efficiencies slowly moving back to normalcy, small finance banks hope to be in expansion mode in the coming months even though a segment of customers remain impacted by the Covid-19 pandemic. Along with higher disbursements, branch expansion and the listing exercise for some of them are likely to gather pace in the coming months.
Finance Commission recommends laws to free up farms for leasing
The 15th Finance Commission has recommended a clutch of politically sensitive suggestions to free up land tenancy and bring reform to the agriculture sector. Supporting the three contentious farm laws, it recommended cash transfer of subsidy instead of subsidised power for agriculture and shift in crops from grain to pulses and oilseeds for self-sufficiency.
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