Rajiv Takru

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  New Team Takes Charge at Finance Ministry Ahead of Budget Process

  Finance Ministry is slated to start consultations on 2016-17 Budget with different ministries and government departments from September 4.

• Hasmukh Adhia Takes Charge as Financial Services Secretary

  Hasmukh Adhia on Friday took charge as the Secretary of the Department of Financial Services in the Ministry of Finance.

• Government Appoints Shaktikanta Das as Revenue Secretary

  Shaktikanta Das, a 1980 batch IAS officer, was on Saturday appointed as the Revenue Secretary, replacing Rajiv Takru.

• Arun Jaitley to Meet State Finance Ministers on GST in June: Report

  Keen to fast track Goods and Services Tax (GST), Finance Minister Arun Jaitley on Thursday reviewed the progress with regard to the rollout of the new indirect tax regime and decided to hold an early meeting with the state Finance Ministers to sort out pending issues, according to a ministry official.

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  Jaitley Keen to Meet State Finance Ministers on GST: Report

  He also asked revenue officials to appraise him of the developments on the GST through a separate presentation on the issue, sources said.

• Government may consider infusing capital into United Bank Of India

  Last week, UBI said its net loss in the October-December quarter widened to Rs 1,240 crore from nearly Rs 500 crore in the preceding quarter.

• SBI graft case internal report misses deadline: report

  DFS secretary Rajiv Takru had last week said the report would be submitted by the week-end, and government, the majority shareholder, will decide the course of action only after that.

• Cash-for-loan scam: SBI MD's report by weekend

  Mr Takru, who is on the board of the bank as government nominee, also said it is wrong to blame the high bad assets in state-run banks to corrupt and lax practices in the loan appraisal process and ruled out changing the existing laws and procedures of working of banks.

• SBI to take decision on raising fund from QIP in a month

  Financial Services Secretary Rajiv Takru said that banks will be allowed to raise capital from the markets in the proportionate amount infused by the government to maintain the government's shareholding.

• Rajan meets Chidambaram ahead of key RBI meet

  Governor Rajan and the four deputy governors, who are the official directors on the RBI's board, will be joined by economic affairs secretary Arvind Mayaram and financial services secretary Rajiv Takru, the government nominees, on the board. There are also 11 non-official directors on RBI board.

• Rajan effect on rupee to continue this week: analysts

  Analysts and heads of treasuries at banks have opined that the Rajan effect' - the impact of the measures unveiled by new Reserve Bank of India Governor Raghuram Rajan - will continue to play out in the forex market this week as well.

• RBI zeroes in on 5 for panel to screen applications for new banks: report

  Sources said the names are that of market regulator Sebi chairman U K Sinha, insurance regulator Irda chairman T S Vijayan, pension regulator PFRDA chairman Yogesh Agarwal, financial services secretary Rajiv Takru and financial sector expert Y H Malegam.

• Finance Ministry seeks relaxation in selection norms for SBI chief post

  The Finance Ministry has sought relaxation in the eligibility norms for selection of State Bank of India (SBI) chairman so as to have more candidates to interview for the top post at the country's largest bank.

• Government ups LIC's investment cap to 25 per cent under special circumstances

  The Finance Ministry said on Wednesday that public-sector insurance behemoth Life Insurance Corporation (LIC) can increase its investment in companies up to 25 per cent from the current 20 per cent under special circumstances.

• Finance Ministry asks banks to have independent corporate debt restructuring oversight panel

  To restrict the use of loan restructuring mechanism only to deserving cases, the Finance Ministry on Thursday asked bankers to have an independent oversight committee that will vet the corporate debt restructuring (CDR) applications.