Corruption In Business
ED attaches Rs 859 cr proceeds of crime in illegal loan app cases: Centre
The Directorate of Enforcement has attached proceeds of crime worth Rs 859.15 crore generated by accused persons/entities through illegal loan apps, Minister of State for Finance Bhagwat Karad said on Tuesday. Further, assets amounting to Rs 289.28 crore have been seized under the Foreign Exchange Management Act, 1999. In a written reply to a query in Rajya Sabha, Karad said Reserve Bank of India (RBI) has furnished the list of Digital Lending Apps (DLAs) being used by regulated entities of RBI to the Ministry of Electronics & Information Technology (MeitY). MeitY has shared the list with respective intermediary (App Stores) and requested them to ensure that only the apps figuring in the list are hosted on their app stores. The RBI's digital lending guidelines issued in September advises measures, including due diligence of Loan Service Providers (LSPs), direct disbursal of loan from bank account of lender to bank account of the borrower without any pass-through/pool or ...
 "ED attaches Rs 859 cr proceeds of crime in illegal loan app cases: Centre")
Corruption is the biggest hindrance for business operation in India: Report
Navigating through the maze of rules and regulations seems to be a marathon, followed by sectorial and regional law compliance once the business has been set-up
 "Corruption is the biggest hindrance for business operation in India: Report")
