Loading...

⚠ ✕
❮ Top
☎ Help
☰
×

By creating an account you can:

Logo TaxTMI
Call Us / Help / Feedback✕

Contact Us At :

✉ E-mail: [email protected]

✆ Call / WhatsApp at: +91 99117 96707

For more information, Check Contact Us

FAQs :

To know Frequently Asked Questions, Check FAQs

Most Asked Video Tutorials :

For more tutorials, Check Video Tutorials

Submit Feedback/Suggestion :

Email :
Please provide your email address so we can follow up on your feedback.
Category :
Description :
Min 15 characters 0/2000
Make Most of Text Search ✕
  1. Checkout this video tutorial: How to search effectively on TaxTMI.
  2. Put words in double quotes for exact word search, eg: "income tax"
  3. Avoid noise words such as : 'and, of, the, a'
  4. Sort by Relevance to get the most relevant document.
  5. Press Enter to add multiple terms/multiple phrases, and then click on Search to Search.
  6. Text Search
  7. The system will try to fetch results that contains ALL your words.
  8. Once you add keywords, you'll see a new 'Search In' filter that makes your results even more precise.
  9. Text Search
╳
Add to...
You have not created any category. Kindly create one to bookmark this item!
✕
Create New Category
Hide
Title :
Description :
❮❮ Hide
❮ Default View
Expand ❯❯
Close ✕
🔎 Filters / Advanced Search ❯
TEXT

Press 'Enter' to add multiple search terms. Rules for Better Search

Search In
Main Text + AI Text ❯
  • Main Text
  • Main Text + AI Text
  • AI Text
Category: ?
Categorized by AI
---- All Categories ---- ❯
  • ---- All Categories ----
  • Income Tax
  • GST
  • Customs, DGFT & SEZ
  • FEMA & RBI
  • Corp. Laws, SEBI & IBC
  • PMLA, Black Money & ED
  • Budget
  • News and Press Release
  • PTI News
Month:
---- All Months ---- ❯
  • ---- All Months ----
  • January
  • February
  • March
  • April
  • May
  • June
  • July
  • August
  • September
  • October
  • November
  • December
Year:
---- All Years ---- ❯
  • ---- All Years ----
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
Sort By: ?
In Sort By 'Default', exact matches for text search are shown at the top, followed by the remaining results in their regular order.
Relevance Default Date
☰   Show Results ❯
    Top Delhi High Court stories on Thursday
    DRI intensifies crackdown on gold smuggling in pan-India operations; seizes around 41 kg foreign-origin gold worth Rs. 62 crore (approx.); 24 persons,...
    Axis Bank Launches Sparsh Week 2026: 'Act with Speed' Nationwide
    Wizz partners with Appreciate to enable seamless global Investing through Wizz Financial App
    IRCTC hotels money laundering case: Delhi court orders framing of charges against Lalu, 8 others
    India has opportunity to become trusted partner in shaping future of global finance: RBI Guv
    Beyond Local Markets: How MSMEs Can Unlock Growth Through Exports and GeM
    Delhi HC bars GST registration without biometric-based Aadhaar authentication
    Safebox Raises USD 1.11 Million Seed Round to Build India’s Family Wealth Protection Category
    Bajaj Finance Simplifies Gold Loan Planning with Online Calculator
    Wibmo, a PayU Company, Wins at the Global Fintech Awards 2026
    India in Full Flow — The Decade of Demand
    FCNR(B) flows not to lead to abnormal lending, will get deployed in 4 months: SBI Chairman Setty
    SC notice to Centre on PIL seeking uniform, time-bound probe for child kidnapping cases
    Chinese electric bike imports surge as Africa's EV investments diversify
    Maharaja & Speedex India Limited IPO Opens on Thursday, September 10, 2026
    IFANOW partners with Appreciate to bring Global Investment Products to its financial advisors and their clients
    Orange Retail Finance Completes RS 50 Crore Listed NCD Issuance; First Tranche of RS 200 Crore Programme Supported by UMI Capital
    Emerging Technologies in Finance: The Imperatives of Purpose, Prudence, and Policy - Keynote Address by Shri Rohit Jain, Deputy Governor, Reserve Bank...
    Rupee falls 25 paise to 95.33 against US dollar in early trade
❮
❯
❯❯
Maximize Maximize Maximize
0 / 200
Expand Note
Add to Folder

No Folders have been created

+

Are you sure you want to delete "My most important" ?

NOTE:

News
Showing Results for :
Reset Filters
Results Found:
Show All Summaries Hide All Summaries
September 10, 2026
Show AI Summary
Biometric Aadhaar Authentication for GST Registration becomes mandatory to prevent fraudulent registrations using misused taxpayer identity credentials.
GST registration is impermissible without biometric-based Aadhaar authentication, addressing allegations of fraudulent registrations obtained through misuse of PAN and Aadhaar credentials. The requirement strengthens taxpayer identity verification in the GST registration process. Related issues include allegedly defamatory online posts, film release pending certification, sporting guidelines for women athletes returning after maternity, and the importance of an independent, ethical and fearless Bar to judicial independence.
September 10, 2026
Show AI Summary
Gold-smuggling enforcement targets concealment methods, transit-route abuse, and airport-staff collusion through intelligence-led interception operations nationwide.
Intelligence-led customs enforcement against organised gold smuggling led to seizures of foreign-origin gold across airport, rail, road and Indo-Bangladesh border routes. Gold was concealed through melting, defacing, conversion into chains, dust or paste, and hiding in vehicles, baggage, machinery and body-worn articles. Seizures under the Customs Act, 1962 followed failures to produce documentation substantiating licit possession. The activity also identified transit passengers, airport staff, recipients and handlers involved in clandestine removal and movement of smuggled gold.
September 10, 2026
Show AI Summary
Customer-focused digital vehicle financing introduces a paperless, automated journey for eligible existing and new banking customers.
Eligible existing and new-to-bank customers may access a simplified Auto and Two-Wheeler financing journey through a fully digital, end-to-end paperless process. Automated decisioning, straight-through processing, digital documentation and dealer integration are intended to enable application-to-disbursement within 30 minutes, reduce financing friction and accelerate access to vehicle finance. The broader initiative uses customer engagement and employee capability-building measures to convert customer feedback into faster action and improved service experiences.
September 10, 2026
Show AI Summary
Global investing through regulated IFSC infrastructure enables digital access to international stocks, funds, onboarding, remittance support, and portfolio diversification.
Wizzmoni Financial Services Limited and Appreciate are integrating global-investing infrastructure into the Wizz Financial App. Retail and high-net-worth customers may access US-listed stocks, exchange-traded funds and Global Mutual Funds through a digital experience with onboarding, a single-KYC journey and multi-bank remittance support. International investing is routed through regulated GIFT City IFSC infrastructure and is positioned as a compliant pathway under the RBI's Liberalised Remittance Scheme framework, alongside existing foreign-exchange and cross-border payment services.
September 10, 2026
Show AI Summary
Money laundering charge framing requires strong suspicion, not conclusive proof, where alleged abuse of office generated tainted property.
Money-laundering charges were ordered to be framed against nine accused on allegations that manipulation of a railway hotel lease tender enabled the transfer of undervalued land through DMCPL and subsequent share transfers to Rabri Devi and Tejashwi Yadav. The land was treated as alleged proceeds of crime arising from abuse of public office. At the charge-framing stage, strong suspicion, rather than conclusive proof of criminal intent, was sufficient. Documentary material concerning land transfers, company control, loans, shareholding changes and subsequent transfers supported the allegations.
September 10, 2026
Show AI Summary
Financial-sector tokenisation and self-regulation are proposed alongside fiduciary data stewardship for next-generation digital finance services.
Financial-sector digitalisation is being advanced through proposed tokenisation of corporate bonds, digital public infrastructure for next-generation financial services, and recognition of an additional self-regulatory organisation. The Unified Lending Interface is identified as an example of such infrastructure. Trust is central to the financial system, and fintech entities are expected to treat data as a fiduciary responsibility rather than as a business asset. United Fintech Forum has received approval as the second self-regulatory organisation for the financial sector.
September 10, 2026
Show AI Summary
MSME export readiness and sustainable GeM bidding depend on compliance, cost discipline, reliable delivery, and operational systems.
MSME export readiness requires consistent product quality, reliable delivery, documentation, regulatory compliance and operational systems capable of sustaining buyer trust. Digital trade processes require relevant registrations, including IEC and GST, and use of ICEGATE and DGFT systems. Free Trade Agreements may enable reduced or zero customs duties in specified markets, subject to applicable eligibility conditions and rules.
September 10, 2026
Show AI Summary
Biometric Aadhaar authentication becomes mandatory for GST registration to prevent fraudulent use of stolen taxpayer identity credentials.
GST registration is prohibited, for the time being, unless biometric-based Aadhaar authentication is completed. The requirement applies across the country and addresses fraudulent registrations obtained through misuse of PAN and Aadhaar details. Biometric authentication is treated as necessary to curb fake registrations, revenue loss and harassment caused by identity misuse. Authorities may raise objections concerning practical difficulties in implementation.
September 10, 2026
Show AI Summary
Family wealth protection platforms consolidate household asset records, nominee mapping and regulated data access to reduce unclaimed financial assets.
Safebox consolidates household financial information across assets, liabilities, insurance, critical records and family details, with nominee mapping for individual holdings. It is designed to help family members identify relevant information and access requirements during emergencies or transitions where financial holdings are dispersed across institutions and digital identities. The platform uses regulated financial infrastructure through integration with the Account Aggregator framework and operates through an entity registered as an Investment Adviser.
September 10, 2026
Show AI Summary
Gold loan valuation depends on purity, net gold weight, prescribed gold price and tiered loan-to-value limits.
Gold loan eligibility and estimated borrowing capacity depend on gold purity, eligible net gold weight, the applicable valuation price and the Loan-to-Value (LTV) limit. An online calculator may provide a preliminary estimate based on borrower-entered details, but cannot determine the final sanctioned amount. Valuation excludes stones, beads, gems and other non-gold components and remains subject to physical verification of gold weight, purity and eligibility. Tiered RBI LTV limits restrict maximum borrowing against assessed gold value, while borrowers should review applicable interest, fees, repayment terms and other charges.
September 10, 2026
Show AI Summary
Risk-based step-up authentication enables banks to apply stronger verification for higher-risk digital payment transactions in real time.
Risk-based step-up authentication applies stronger verification when transaction risk indicators require it, while allowing trusted digital payment transactions to proceed with minimal friction. Wibmo Intelligent Authentication Suite combines authentication with real-time risk assessment to support risk-aware decision-making across payment journeys. The capability is positioned to help banks, fintechs and financial institutions strengthen payment security, manage fraud and risk, and preserve convenient experiences for cardholders and end users.
September 10, 2026
Show AI Summary
Authorised Economic Operator reform drives trade submissions on trusted compliance, faceless examination and integrated customs systems improvements.
Authorised Economic Operator reform and customs-trade facilitation are addressed through an open-floor deliberation involving importers, exporters, terminal operators, customs brokers and surveyors. Practical submissions are to be consolidated into an Outcome Document for submission to the Central Board of Indirect Taxes and Customs. Focus areas include trust-based compliance, faceless examination, National E-Bond, transfer of ownership, Participating Government Agency routing through SWIFT 2.0, and Customs Integrated Systems 2.0. Related sessions address GST appellate dispute preparedness, free trade agreement services, maritime risk and customs reform implementation.
September 10, 2026
Show AI Summary
FCNR(B) fund deployment over several months is expected to prevent abnormal lending while supporting responsible banking liquidity management.
FCNR(B) inflows mobilised through a special concessional swap arrangement are anticipated to be deployed over three to four months. Banks are expected to manage the resulting liquidity responsibly rather than expand credit abnormally. The staggered deployment period is presented as mitigating concerns that diaspora-linked foreign-currency inflows could cause excessive lending.
September 10, 2026
Show AI Summary
Uniform child kidnapping investigations: PIL seeks prompt FIR registration, specialised procedures, asset measures and speedy trials nationwide.
A public-interest petition seeks a uniform nationwide mechanism for child kidnapping and abduction investigations, including prompt FIR registration, time-bound inquiries, standard questionnaires, special investigation procedures and senior-level investigation. It proposes dedicated courts for speedy disposal and coordinated action against interstate trafficking and illegal-adoption networks. The petition also seeks property assessment and confiscation, use of money-laundering, benami-property and black-money provisions where applicable, and consecutive sentences to deter offenders.
September 10, 2026
Show AI Summary
Electric motorcycle adoption depends on local assembly, battery swapping, affordable finance, reliable power, and interoperable infrastructure across African markets.
African electric two- and three-wheeler markets combine imports of Chinese electric scooters for consumer use with commercially focused electric motorcycle ecosystems supported by local assembly, battery swapping, charging, financing and servicing. Battery swapping supports intensive commercial operations by allowing rapid replacement of depleted batteries. However, local production remains dependent on imported motors, controllers and battery cells. Proprietary battery systems and fragmented swapping networks restrict interoperability, manufacturing scale and battery resale value. Wider adoption depends on affordable finance, reliable electricity, adequate infrastructure, predictable policies and standardisation.
September 10, 2026
Show AI Summary
Initial public offering opens for SME listing, with fresh proceeds designated for debt repayment, machinery investment, and corporate purposes.
Maharaja & Speedex India Limited proposes an initial public offering of equity shares for listing on the BSE SME platform. The net offer provides allocations for qualified institutional buyers, non-institutional investors, retail individual investors, and a market maker. Net fresh-issue proceeds are intended for repayment or prepayment of company and subsidiary borrowings, capital expenditure on plant and machinery at the subsidiary's existing manufacturing facility, and general corporate purposes.
September 10, 2026
Show AI Summary
FEMA-compliant global investment access integrates funds and US equity baskets into advisor workflows through assisted and DIY journeys.
Global investment access is integrated into IFANOW's wealth-management platform through Appreciate's technology infrastructure, enabling advisors and clients to access Global Funds and US Stock Baskets within existing workflows. Assisted and DIY journeys support onboarding, KYC, remittance and investment execution. Appreciate provides infrastructure for execution, payments, distribution, advisory and exchange connectivity through APIs and SDKs. Global investments are facilitated through regulated GIFT City IFSC and FEMA-compliant Liberalised Remittance Scheme routes, with supported banking channels for funding.
September 10, 2026
Show AI Summary
Listed NCD funding enables an NBFC's diversified institutional debt strategy and transition to secured retail finance.
Orange Retail Finance India Private Limited completed a listed non-convertible debenture issuance as the first tranche of its listed debt programme. The issuance is part of a broader debt-fundraising plan to diversify funding sources, establish an institutional capital-raising platform and support asset-liability management. It accompanies a transition from legacy two-wheeler lending to secured retail finance focused on gold loans and MSME loan against property in semi-urban and rural markets.
September 10, 2026
Show AI Summary
Responsible financial technology requires purpose-led design, proportionate safeguards, accountable governance, and adaptive policy to protect customers and resilience.
Emerging financial technologies should be evaluated by the financial need they address rather than by novelty alone. Their benefits depend on inclusive design choices such as interoperability, common standards and accessibility. Prudence requires safeguards against risks arising from automation speed, concentration in technology dependencies and opacity in advanced models. Institutions remain accountable for customer fairness and risk management despite algorithmic decision-making or third-party technology provision. Policy should apply proportionate governance, validation, oversight and intervention requirements, while allowing controlled experimentation and adaptive supervision to support responsible innovation.
September 10, 2026
Show AI Summary
Rupee depreciation amid elevated crude prices increases import-bill and current-account pressures as dollar demand remains persistent.
Rupee depreciation against the US dollar was linked to Brent crude prices exceeding USD 100, persistent dollar demand and concern over India's import bill. India's substantial dependence on crude imports makes sustained oil-price increases a source of pressure on the import bill, current account and rupee. FCNR-related dollar inflows have largely faded, while movement above the 95 USD/INR level generated additional dollar demand and was viewed as technically significant.

News

Back

All News

Showing Results for :
Reset Filters
No Records Found

News

Back

All News

Guarantees amounting to Rs 3.61 lakh crore issued under ECLGS, benefiting 1.19 crore borrowers as on 31.1.2023

March 14, 2023

Contents
Summary
Note

Note

-

Bookmark

Print

Print

The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyan to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic. This scheme covers all the sectors of the economy. This was stated by the Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha.

As per the information received from National Credit Guarantee Trustee Company Limited (NCGTC),the Minister stated that the agency operating the scheme, as on 31.1.2023, guarantees amounting to Rs 3.61 lakh crore have been issued under ECLGS, benefiting 1.19 crore borrowers. The share of MSMEs under ECLGS is as below:

Share of MSMEs under ECLGS

Share of MSME

Number of loans guaranteed

1,13,53,254 (95.18%)

Amount guaranteed (in Rs crore)

2,39,147.53 (66.16%)

*Figure in brackets indicate MSME as percentage of Total

The state-wise details of Micro, Small and Medium Enterprises (MSMEs) loans guaranteed under the scheme is enclosed as ANNEXURE I to this reply.

The Minister further stated that as per a research report dated 23.1.2023 of the State Bank of India on ECLGS, almost 14.6 lakh MSME accounts, of which about 98.3% of the accounts were in the micro and small enterprises categories, were saved. In absolute terms, MSME loan accounts worth Rs. 2.2 lakh crore improved since inception of ECLGS for entire banking industry. This means that around 12% of the outstanding MSME credit has been saved from slipping into non-performing asset (NPA) classification due to ECLGS.

Further, the Minister stated that the Economic Survey 2022-23 states that the credit growth to the Micro, Small, and Medium Enterprises (MSME) sector has been remarkably high, over 30.6 per cent, on average during Jan-Nov 2022, supported by the extended Emergency Credit Line Guarantee Scheme (ECLGS) of the Government of India. It adds that the recovery of MSMEs is proceeding apace, as is evident in the amounts of Goods and Services Tax (GST) they pay, while the ECGLS is easing their debt servicing concerns.

Giving out more information, the Minister stated that the incidence of NPAs in lending by banks, including in the MSME sector, is attributable to a number of factors, which include macroeconomic conditions, sectoral issues, global business environment, governance issues in the borrowing entities, etc. Measures taken to support MSMEs are intended to enhance credit flow to the sector and improve the overall credit health of businesses in the sector. Various measures have been taken for increasing access to credit and finance for MSMEs in an affordable manner. These, inter-alia, include:

  1. New revised criteria for classification of MSMEs based on both investment size and turnover.
  2. ‘Udyam Registration’ for MSMEs, for ease of doing business.
  3. Inclusion of Retail and Wholesale Traders as MSMEs w.e.f. 2.7.2021.
  4. Pradhan Mantri Mudra Yojana (PMMY) scheme launched in April, 2015 to provide collateral free access to institutional finance to unfunded Micro/Small business units with collateral free loans up to Rs10 lakh.
  5. In the wake of Covid-19 pandemic, Emergency Credit Line Guarantee Scheme (ECLGS) launched in May, 2020 to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities and restarting their businesses.
  6. The psbloansin59minutes Portal was launched to facilitate in-principle approval of loans of up to Rs 5 crore to MSMEs without human intervention.
  7. Trade Receivables Discounting System (TReDS) has been operationalized to address the problem of delayed payments to MSMEs.
  8. For better transmission of monetary policy, RBI has advised banks to link all new floating rate loans to external benchmark for MSEs from 01.10.2019 and Medium enterprises from 01.04.2020.
  9. Special restructuring window was put in place for MSMEs, through:

(a) Resolution Framework- I, announced in August, 2020 which permitted implementation of restructuring till March, 2021; and

(b) Resolution Framework II announced in May, 2021 which permitted invocation of restructuring till 30th September, 2021 to be completed within a period of 90 days.

10. Target of 7.5 percent of Adjusted Net Bank Credit (ANBC), or Credit Equivalent Amount of Off-Balance Sheet Exposure, whichever is higher, fixed for Scheduled Commercial Banks (SCBs) for lending to Micro Enterprises, under priority sector lending norms.

Topics

Acts Income Tax