Govt considering giving more power to RBI to regulate NBFCs: Sitharaman

Unclaimed deposits in banks have witnessed a jump of 26.8% to Rs 14,578 crore in 2018

The government is considering strengthening the Reserve Bank of India’s regulatory and supervisory powers over the non-banking finance companies (NBFCs), Finance Minister Nirmala Sitharaman said in the Lok Sabha on Monday. The minister said RBI was closely monitoring the liquidity position of NBFCs and will continue to monitor the activity and performance of the sector with a focus on major entities and their interlinkages with other sectors.

535 cases of fake invoices involving ITC claims of Rs 2,565 crore detected in the current financial year

GST officers have booked 535 cases of fake invoices involving a total fraudulent claim of Rs 2,565