State FMs to meet this week to discuss GST law

Amid hopes of longpending Goods and Services Tax (GST) Bill getting passed in the Rajya Sabha in the next Parliament session, state finance ministers will deliberate on the model GST law at a two-day meeting in Kolkata beginning Tuesday. Finance minister Arun Jaitley will participate in the meeting of empowered committee of state finance ministers and try to iron out differences over the new regime that will subsume all indirect taxes and create one national market under the GST.

Hindustantimes New Delhi,13th June 2016

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RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said. Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm

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India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

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