Speaking at a function organised by Federation of FICCI and The ICAI Jaitley said warned that tax evation will lead to a higher Goods and Services Tax (GST).
The lender whose market share in corporate banking is in single digits does not expect to challenge its much larger peers anytime soon.
L&T IDF, which was also launched in 2013 had Rs 3,000 crore of infrastructure debt under management as of July.
Commonwealth Bank was the first Australian bank to open a branch in Mumbai when it started its operations in the city in August 2010 to provide trade finance.
Lending to medium and small enterprises as a percentage of the adjusted net bank credit dropped to 14.6% in the year ended March 2016 from 15.5% in the previous year.
In its annual report published on Monday, RBI said expenditure increased 12% to Rs 14,990 crore from Rs 13,356 crore “primarily due to provisions made for reimbursing service tax on agency commission paid to agency banks.”
The Bengaluru based centre called Thought Factory will help Indian start-ups interact with Amazon to get solutions to their questions regarding technology at no cost.
Urjit Patel is expected to continue with the anti-inflation stance along with liquidity management, a key for sustainable interest rate cuts.
While Patel is unlikely to be as dynamic as Rajan, he will not do anything to change the status-quo, analysts said.
Economists said Patel’s appointment also signals that the government wants the central bank to continue keeping inflation on a tight leash.
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