Business news, Cryptocurrency exchanges evade crore in tax

Business news, Cryptocurrency exchanges evade crore in tax and increased the maximum transaction limit of UPI Lite,Rs 55 lakh crore, according to data released by the World Bank, more than..

Business news,

UPI Lite service has a maximum transaction limit of Rs 5,000

The Reserve Bank of India has increased the maximum transaction limit of UPI Lite, a mobile payment service that does not require an internet connection, from Rs 1,000 to Rs 5,000. In UPI, money transfers not only require an internet connection, but also additional confirmation and transaction alert information is sent instantly to the customer's mobile phone. 

In UPI Lite, which does not require an internet connection, the transaction limit was previously allowed up to Rs 1,000. The Reserve Bank has issued a circular increasing this to Rs 5,000. This is expected to further increase the number of small-value electronic transactions.

India's external debt rises to Rs 55 lakh crore

India's total external debt increased by Rs 2.60 lakh crore in 2023 to nearly Rs 55 lakh crore, according to data released by the World Bank.

The World Bank's '2024 International Debt Report' states that due to the increase in India's debt, interest on debt has increased from Rs 1.29 lakh crore in 2022 to Rs 1.92 lakh crore in 2023. In 2023, debt on long-term securities increased by 7 percent to Rs 42.33 lakh crore, while debt on short-term securities decreased slightly to Rs 10.74 lakh crore. In 2023, the share of external debt was 80 percent of exports; 10 percent of services exports. 

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Cryptocurrency exchanges evade Rs 824 crore in tax

The government has said that cryptocurrency exchanges have been found to be evading GST to the tune of Rs 824 crore.

In this regard, Minister of State for Finance Pankaj Chaudhary said in a written reply in Parliament: Cryptocurrency exchange exchanges like CoinDCX,

CoinSwitch Kuber, WazirX, Finance have been found to be involved in GST evasion. While a tax evasion of Rs 824 crore has been detected, Rs 122.29 crore has been collected from them so far. He said this.

'Indigo' is the seventh worst airline

'AirHelp' has rated 109 airlines from 54 countries and released a ranking. The companies are ranked based on passenger handling, food quality, seat comfort, staff service, punctuality at take-off and landing. IndiGo has been ranked 103rd in the list.

Overall, IndiGo has been ranked seventh in the top 10 list of worst-performing airlines. IndiGo has denied this, saying the reliability of the results is questionable.