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anurag thakur

Dec 15, 2019, 08.10 AM IST

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ANURAG THAKUR

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  • "As per the data provided by National Company Law Tribunal (NCLT), total 19,771 cases were pending with NCLT benches on 30.09.2019, which include 10,860 cases under Insolvency and Bankruptcy Code (IBC), 2016," Minister of State for Finance and Corporate Affairs Anurag Singh Thakur said in a written reply to the Rajya Sabha.

    Loans are classified as MUDRA under the PMMY. The loans are given under three categories of Shishu, Kishore and Tarun to signify the stage of growth and funding needs of the beneficiary.

    Thakur said as part of the government’s drive against black money, undisclosed income of about Rs 8,465 crore has been brought to tax and penalty of Rs 1,294 crore levied in the HSBC cases.

    The government has recently appointed 28 more members in NCLT and 4 more members in NCLAT, said Union minister Anurag Singh Thakur in order to quicken the legal proceedings and reduce the pendency of cases. Additional members have been appointed and additional courts are being operationalised from time to time.

    "Banks should also focus on genuine customers who need financial support to grow their businesses and the MSME sector, which is the backbone of our economy, needs a lot of support from the banking industry," Anurag Thakur said at the 101st foundation day celebrations of the state-run Union Bank of India here this evening.

    ​​The bill seeks to increase the limits for aggregate fund collections in chit funds to thrice the current limits and allows the chit fund foreman a right to lien against the credit balance from subscribers. The Lok Sabha passed the proposed amendment on November 20.

    Gross NPAs of SCBs, which stood at Rs 10,36,187 crore on March 31, 2018, declined by Rs 97, 996 crore to Rs 9,38,191 crore as on June 30, 2019, Anurag Thakur said during question hour in Lok Sabha. The gross NPAs stood at Rs 3,23,464 crore as on March 31, 2015 and increased to over Rs 10.36 lakh crore figure by the end of 2017-18 fiscal on March 31.

    "It is not only the government, it is also the industry which also has to play an important role. In GST, we are seeing a lot of fake invoicing and it is from business to business," Thakur said at the annual session of Consumer Electronics and Appliances Manufacturers Association.

    According to the bill, it is proposed to raise the maximum chit amount from Rs 1 lakh to Rs 3 lakh for those managed by individuals or less than four partners, and from Rs 6 lakh to Rs 18 lakh for firms with four or more partners. The maximum commission for the 'foreman', who is responsible for managing the chit, is proposed to be raised from 5 per cent to 7 per cent.

    Analysts said the advance-decline ratio needs to improve, as the index looks to take out the 12,000 level in the coming days.

    Investigating agencies had imposed Rs 1,907 crore penalty and confiscated Rs 3.45 crore under FEMA in 2018-19. Penalties worth Rs 179 crore and confiscations of Rs 11.49 crore were made in 2017-18. As for PMLA, Rs 15,490 crore worth of properties were attached in 2018-19, up from Rs 7,432 crore in FY18.

    Government owned banks reported frauds of over Rs 95,700 crore in the first six months of the current fiscal, the Parliament was informed on...

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