Tag: Finance Minister

Union Budget 2013: FM to present today, facing litmus test

Today, one of the most highly anticipated budgets of recent years, Union Budget 2013 is set to be presented by Finance Minister P Chidambaram and all eyes are on India’s efforts to cut down a damaging credit ratings downgrade. Read more

I know my limitations: Chidambaram on Prime Minister Candidature

As per latest political news, the Finance Minister of the country, P Chidambaram offered two responses today when media tried to get his reaction an the fellow Tamil Nadu politician and DMK chief M Karunanidhi’s suggestion that he was a potential candidate for Prime Minister. Read more

Banks to gear up for DCT ,a ‘pure magic’ System: FM

Appreciating Rahul Gandhi’s Direct Cash Transfer scheme as a ‘pure magic’, today Finance Minister P Chidambaram asked banks to gear up for implementation of scheme, the biggest banking responsibility.

UPA’s Direct Cash Transfer Scheme leads to directly transfer money into beneficiary Aadhaar-enabled accounts in wake of leaving no scope for corruption and pilferage. Read more

Moody’s outlook for Indian banking system remains negative

Amid pressure of sloping down Indian economy growth by 5.3% in second quarter of fiscal year, another threatening fact raised by Moody rating agency that its outlook on the Indian banking system for next 12 to 18 months remains negative.

As per Moody’s statement, the affect of outlook is due to Indian challenging domestic operating environment which pressuring banking system fall in profitability through slow economic growth, high inflation, high interest rates, and a weak local currency, reports said. Read more

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