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.
Until now LOC worth $248 million has been extended by India to Cuba for developmental work.
The month-on-month rise in spending through cards indicates a pick-up in economic activity.
He informed that the total amount of loans guaranteed under ECLGS (Emergency Credit Line Guarantee Scheme) is Rs 3.47 lakh crore.
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.
This move is likely to impact fintech players who offer credit lines in partnership with non-banking financial companies.
Ministers of State for External Affairs V Muraleedharan, Meenakshi Lekhi and Rajkumar Ranjan Singh also attended the meeting.
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.
UPI currently facilitates transactions by linking users’ debit cards with savings or current accounts; New move will see upsurge in UPI & credit card transactions.
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.
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.
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.
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).
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.
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.