The total outstanding amount that wilful defaulters owe to banks stood at ₹6.85 lakh crore as of in June
As recklessness mounts among investors, the government must pass the cryptocurrency legislation on a priority basis.
A taxable portion in which contributions above Rs 2.5 lakh will be accounted for and the interest earned thereon will be taxed.
The GST Council headed by Union Finance Minister Nirmala Sitharaman had taken by the decision to set up these two GoMs on September 17.
While the finance minister wants banks to increase rural footprint, reaching unbanked areas digitally offers a low-risk option for the banks.
The monthly average GST collections are in the range of Rs 1.11 lakh crore and Rs 1.12 lakh crore.
The announcement was made in line with the proposal to set up the NARCL to aggregate the toxic assets that have been lying for a long time.
For a speedy and efficient non-performing assets' resolution, IBA has drafted a proposal for the creation of the bad bank, last year.
During the Covid crisis, the government was able to distribute Rs 15,00 in three installments to the poor into their bank accounts.
She said the government is engaging with the stakeholders to ensure the economy's revival happens without any further roadblocks