Hyderabad man held for aiding Rs 25.5 crore GST fraud

21 fake companies managed by the accused fabricated invoices to the value of approximately `262 crore, and passed inadmissible ITC of `25.5 crore to many functional companies.

published on : 2nd July 2022

India extends Line of Credit worth euro 100 million to Cuba to meet food shortage

Until now LOC worth $248 million has been extended by India to Cuba for developmental work.

published on : 1st July 2022

Credit card spend crosses Rs 1.13 lakh crore in May: RBI data

The month-on-month rise in spending through cards indicates a pick-up in economic activity.

published on : 28th June 2022

Government working towards easier access to credit for MSMEs: Official

He informed that the total amount of loans guaranteed under ECLGS (Emergency Credit Line Guarantee Scheme) is Rs 3.47 lakh crore.

published on : 27th June 2022

GST Council may consider changes in monthly GST payment form

The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit, but report suppressed sales in GSTR-3B.

published on : 24th June 2022

RBI disallows non-bank prepaid payment instruments to load credit lines amid increase in e-wallet 

This move is likely to impact fintech players who offer credit lines in partnership with non-banking financial companies.

published on : 22nd June 2022

House panel for backing Sri Lanka in hour of crisis

Ministers of State for External Affairs V Muraleedharan, Meenakshi Lekhi and Rajkumar Ranjan Singh also attended the meeting.

published on : 19th June 2022

Sri Lanka hopes India will grant an additional line of credit to help them with fuel supplies

External Affairs Minister, Dr S Jaishankar on Saturday chaired a Parliamentary Consultative Committee meeting to brief members about India’s support for the island nation.

published on : 18th June 2022

Questions aplenty as RBI allows linking of credit cards with UPI

UPI currently facilitates transactions by linking users’ debit cards with savings or current accounts; New move will see upsurge in UPI & credit card transactions.

published on : 13th June 2022

EXIM Bank extends short-term LoC of USD 55 million to Sri Lanka

With this agreement, EXIM Bank, till date, has extended 11 LOCs to the Sri Lankan government, on behalf of the Indian government, taking the total value of these LOCs to USD 2.73 billion.

published on : 10th June 2022

NBA Chairman urges colleges to design student-specific courses

Over the last several decades, he said, the earlier education system has caused critical damage to the lives of young people as they never learnt to take risk in life.

published on : 9th June 2022

SpiceJet tells SC matter with Credit Suisse settled; seeks urgent hearing against winding-up order

The plea for urgent listing of the case was mentioned by the counsel appearing for SpiceJet before a vacation bench headed by Justice Ajay Rastogi, which agreed to list the matter on Friday.

published on : 1st June 2022

Massive credit fraud busted by Central GST Commissionerate & MP cyber cell

The fraud was committed by a fake GST Credit racket involved in generating and passing of over Rs 100 crores of Input Tax Credit (ITC).

published on : 29th May 2022

Film producer Boney Kapoor's credit card misused, loses Rs 3.82 lakh to cyber fraud

As per the complaint filed in Amboli police station on Wednesday under provisions of IPC and IT Act, the accused has used the credit card to carry out five online transactions.

published on : 28th May 2022

Bank credits grow at 10.8 per cent in March quarter

The RBI in a statement said bank credit growth (y-o-y) rose steadily over the successive quarters of FY22 and moved to double-digits in March 2022.

published on : 26th May 2022
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