- iPhone 14 production starts in India: Apple makes big statement; availability details
- Inflation likely to remain above RBI's tolerance threshold; GDP growth at 7.3%: S&P
- Indian Railways trains cancelled today list, September 26: 207 trains fully cancelled, 39 trains diverted| IRCTC Trains Update
- Manmohan Singh Birthday: Meet the economic reformer and former Prime Minister - 10 points
- Rajasthan political crisis: Congress bigwigs to intervene as Ashok Gehlot vs Sachin Pilot fight escalates
Govt working on data mining of deregistered companies
The government is continuing the process of data mining of deregistered companies and so far, bank details have been gathered for nearly 50,000 such entities, Union minister P P Chaudhary said today.
Amid the clampdown on the black money menace, names of more than 2.24 lakh companies have been struck off from the records and over 3 lakh directors have been barred from directorship for their associations with such firms.
The minister of state for corporate affairs said that based on details gathered from banks, around 50,000 deregistered companies deposited and withdrew about Rs 17,000 crore during demonetisation.
Data mining is continuing with respect to the struck-off entities, Chaudhary said, adding that artificial intelligence could be used to identify illegal activities of companies.
He was speaking at an event organised by the Institute of Cost Accountants of India.
In efforts to curb illicit funds flows and corruption, the government had demonetised old Rs 500 and Rs 1,000 currency notes in November last year.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.