The unexpected withdrawal of large currency notes earlier this month is the latest and boldest move of the government to date to tackle the corruption and tax evasion that have long hurt state revenues. However, the move has been poorly implemented and is at best a one-time crackdown on illegal cash. Longer-term solutions to corruption […]
The information contained in the CIR (which contains credit score) would be one of the factors that banks would consider before granting any credit facility to a prospective borrower. However, it will be the commercial judgment of the concerned credit institution to grant loan or other wise to such borrowers based on their Board approved policies.
Remedial measures taken include:-(1) The Farmers are permitted to draw upto Rs.25,000 per week in cash from their Know your Customer (KYC) compliant account subject to the normal loan limits and conditions. This facility will also apply to the Kisan Credit Cards (KCC).
Central Vigilance Commission vide circular dt. 05.04.2002 has advised that Chief Vigilance Officers of Public Sector Banks should personally monitor the cases relating to frauds of Rs. 1.00 crore and above
Investigations conducted by the Income-tax Department post 8th November, 2016 have inter-alia indicated exceptionally high sales by several jewellers on 8th November. Investigations have revealed that these were mostly cash sales/advances for future sales, for which some premium was charged.
(a) whether the Government proposes to collect Goods and Services Tax (GST) on insurance premium, if so, the details thereof; (b) whether the Government has received any representations from insurance companies to exclude insurance premium from the ambit of GST, if so, the details thereof;
Due to persistent moderate to high inflation since then, the value of the same has been progressively eroded in Purchasing Power Parity (PPP) terms. Simultaneously, disposable income levels and GDP also continued to grow. This factor along with rising requirement for banknotes was the reason for introduction of banknote of Rs. 2000 denomination which was done following provisions of RBI Act, 1934
Representations were received from the Confederation of Indian Textile Industry (CITI) and from the Federation of India Art Silk Weaving Industry (FIASWI), inter alia, to increase customs duty on import of fabrics, in general, from 10% to 20%.
(a) whether the Government has received any representation seeking imposition of higher import duty on steel imports; (b) if so, the details thereof and the reasons therefor; and (c) the action taken by the Government thereon?
According to Central Soil Water Conservation Research and Training Institute, Dehradun, India is losing 5,334 million tonnes of soil every year due to soil erosion because of indiscreet and excess use of fertilisers, insecticides and pesticides over the years.
