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Finance Ministry gave this order to banks to recover money from defaulters, details here

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Shyamu Maurya
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Income Tax Deduction: Taxpayers will not have to pay even a single rupee tax on CTC of Rs 19 lakh... know howCheck refund status like this Go to the Income Tax Department portal (www.incometax.gov.in). Log in by entering user ID (PAN number) and password Click on My Account and open Refund/Demand Status. Select Income Tax Returns here. Now click on the receipt number. After this a new page will open, where all the information related to ITR will be visible. What to do in case of delay First of all check your e-mail. Income Tax Department sends refund or any kind of additional information or notice through e-mail. If the ITR status shows that the refund claim has been rejected, taxpayers can request for re-issue of refund. If the status shows that the claim is pending, they can contact the e-filing portal/assessing officer and request for early settlement. If there is still a delay.... Contact Income Tax Department: You can contact the Income Tax Department by calling their helpline 1800-103-4455 or email them at ask@incometax.gov.in. They can assist you with the status of your refund.

Finance ministry: The Finance Ministry has asked banks to establish effective monitoring and inspection mechanisms regarding pending cases in debt recovery tribunals.

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RBI: The Finance Ministry on Saturday asked banks to establish effective monitoring and inspection mechanisms for efficient management of pending cases in Debt Recovery Tribunals (DRTs). Financial Services Secretary M Nagaraju chaired a meeting with the Chairpersons of Debt Recovery Appellate Tribunals (DRAT) and Presiding Officers of Debt Recovery Tribunals (DRTs). During this, he also discussed some best practices to be adopted in DRTs.

An official statement said that some best practices can be adopted in DRTs for better results. During the meeting, it was also discussed that banks should clearly define the policy for small and high value cases pending in DRTs and all stakeholders should work collectively to reduce pending cases.

Banks should use UPI to empower people: Finance Minister

Regarding Unified Payment Interface (UPI), Finance Minister Nirmala Sitharaman has asked banks to explore transformative innovation and digital opportunities in UPI to empower people. India’s UPI has a 45 percent share in the world’s digital payments. The Finance Minister also said that a good banking system can help achieve more economic growth, social progress and environmental sustainability.

According to data from the National Payments Corporation of India (NPCI), transactions through UPI in August grew 41 percent year-on-year to 14.96 billion. During this period, the value of transactions grew 31 percent year-on-year to Rs 20.61 lakh crore. About 6 million new users are joining UPI every month. The reason for this is linking UPI with credit cards and launching it abroad.

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