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NIRMALA order to tighten bank norms for borrowers.

Union Finance Minister Nirmala Sitharaman yesterday (December 30, 2023) urged the public sector banks to intensify vigilance against frauds and willful defaulters.

NIRMALA order to tighten bank norms for borrowers.
Nirmala Sitharaman (finance minister)

Key features he said

Anti-fraud measures: Banks should improve their anti-fraud systems and promptly identify suspicious transactions and take action against them.

Debt Recovery: Banks should focus more on recovery of loans from willful defaulters.

Use of technology: Banks should use advanced technology to detect and prevent fraud.

Awareness campaign: Banks should conduct awareness campaigns to create awareness among the public about fraud and loan defaults.

Also, Nirmala Sitharaman gave the following instructions,

Banks should strictly follow their RBI norms.

Banks should train their employees on fraud prevention and loan recovery.

Banks should maintain transparency in their operations.

These measures are expected to help reduce fraud and loan defaults in public sector banks.

Startups attracted investments worth nearly 

Rs 13,280 crore this month. Following this, December is the most fundraising month of the current year.
 
Innovation companies, known as startups, had raised nearly Rs 11.62 crore in funding at the beginning of this year in January. In this situation, in the year-end December, nearly 13,280 crores of funds have been collected.

Commonly known as 'Bunding Winter', capital inflows for startups are expected to be low during this period.

But, this month, there are things that dispel this thought. Investments are increasing.

However, investments in start-ups have fallen to a seven-year low this year.

Income tax filings rise to 8 crores in current financial year.


In the current financial year, income tax filing for the assessment period has so far reached more than 8 crores and has reached a new milestone, the Income Tax Department has informed.

In this regard, the Income Tax Department has stated on its 'X' website:

So far, more than 8 crores of income tax returns have been filed for the current financial year. Notably, the total filings for the assessment period 2022-23 have been recorded at 7.52 crore.

The Income Tax Department would like to thank all the taxpayers and tax professionals for helping us reach the unique milestone of eight crore tax filings.

July 31 was announced as the last date for filing income tax returns for the year 2022 23. For filing after the due date, assessees can file by today with penalty.

In the last financial year, the total net direct tax collection was Rs 16.63 lakh crore. The income tax collection is Rs 8.08 lakh crore.

SIM card buying and selling process Jan. New restrictions come into effect from 1.

SIM card is the source of detection of many fraud crimes.


The telecom industry is set to implement new regulations from the English New Year to curb SIM card misuse and detect fake SIM cards.

Accordingly, it is mandatory to verify the 'biometric' details of every customer purchasing a SIM card. 'Digital' K.Y.C. The process takes effect.

Regulations including mandatory registration of telecom distributor point of sale agent SIM distributor will come into force.

From whom the SIM card went to, and who received it, the complete details will be known.



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