The rate of cash withdrawals over deposits was almost double in Uttar Pradesh, Andhra Pradesh and Telangana, according to the latest analysis submitted by the RBI to the finance ministry.
Anthony Pompliano, general partner at Morgan Creek Capital Blockchain in the Silicon Valley, shares his views on cryptocurrencies with Mayank Jain in an email interview.
The cash crunch following demonetisation and transaction fees that do not cover costs are among the reasons why the sector is struggling.
E-KYCs and Aadhaar authentication are of crucial importance to the fin-tech companies as the recent RBI instructions require strict KYCs for these players to function in the market.
'PNB had confirmed compliance with the RBI's prescription in its circular of August 3, 2016, which has now turned out to be factually incorrect,' Minister of State for Finance Shiv Pratap Shukla said in Rajya Sabha on Tuesday.
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
Cases of atrocities on scheduled castes increased from 45,000 in 2014 to 40,800 2016. Cases of atrocities on scheduled tribes went from 11,451 in 2015 to 6,568 in 2016.
With the entire fraud amount becoming a non-performing asset, around 25 per cent of the bank's estimated net worth of Rs 40,000 crore could be affected.
The 16-digit randomly generated number by the Aadhaar system was supposed to be introduced by the UIDAI on March 1 and mandatorily deployed by companies using Aadhaar by June 1.
The bank also issued 234 LoUs worth Rs 1,880 crore to another group of companies promoted by Mehul Choksi in 2015 and 2016
Over the past few weeks, an anonymous person, claiming to be a French mobile app developer, has been using his Twitter account to flag security concerns in the Aadhaar system. Recently, the account released a video showing a hack into the Aadhaar application (app). The Unique Identification Authority of India has maintained that Aadhaar remains safe and secure. Mayank Jain spoke to Robert Baptiste, the man behind the Twitter account called 'Elliot Alderson', to understand the way forward for citizens to keep their information safe.
Kunnal Prem, chief executive officer of the Insurance Information Bureau of India, tells Mayank Jain on what they're doing.
The bank has one of the highest current account savings account share, stable credit quality, robust credit growth, adequate capital and low cost-to-income ratio, said PNB chief Sunil Mehta.
"Our preliminary estimates show we may have to provide for around Rs 60 billion in the balance sheet for the quarter ending on March. The due date for LoUs amounting to Rs 60 billion is falling in the present quarter. This will be a contingent liability for the bank," said a senior executive, on condition of anonymity.
Those people without the Aadhaar number have found a loophole in the system
Out of around 80 million accounts that were analysed, there were 10 million records with only names and no other details about the subscribers, including their date of joining, date of birth and father's name, among others, in the EPFO's records.
At the 47th ILC, scheduled for February 26 and 27 in Delhi, trade unions and employers were to discuss key issues related to employment and social security coverage to workers
The number of new jobs created declined by around 65 per cent to 64,000 in April-June 2017, from 185,000 in January-March 2017, according to the Labour Bureau's quarterly report on employment.
In its letter, finance ministry has pointed to sections 35, 35A and 36 of the Banking Regulation Act, 1949, to highlight the powers and functions of the RBI as regulator
Govt tells PSBs to integrate banking systems, rotate staff as a policy
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