AIBOC in a letter to the Prime Minister, has said the government should not expect the banking fraternity to "join the political campaign of #MainBhiChowkidar" unless issues related to merger of banks, salary revision and staff recruitment, among others, are addressed.
Prime Minister Narendra Modi announced the financial inclusion scheme in his first Independence Day speech last year.
Fully know your customer-complaint Jan Dhan account holders will be allowed to withdraw Rs 10,000 per month from their account, while limited or Non KYC compliant account holders can withdraw Rs 5,000 per month.
A senior RBI official said the regulator was focusing on performance of banks' statewise and in each district.
The finance minister said easy access and efficiency in providing banking services will help in revival of businesses which are restarting operations after the lockdown.
Each member will separately sign the agreement & it will become effective only after the last member signs the pact.
RuPay is working on how to increase offers to customers. It is also focused on technology innovation in the card payment system.
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
If Mr Modi has to win, he must convince the people of this country how his reforms improved the quality of their lives.
Union Human Resource Development Minister Smriti Irani on Friday described Prime Minister Narendra Modi as a "great economist", who she said has given a positive direction to the nation's economy.
Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
Modi had campaigned with promises of jobs, infrastructure and development.
Last year, FDI cap in insurance was hiked to 49%
The assessment of PMJDY should be done within the context of the programme.
Private sector banks are way behind their PSU peers when it comes to opening financial inclusion accounts under the Prime Minister's Jan Dhan Yojana
While most economies contracted in the second quarter of 2020, the Chinese economy grew by 3.2 per cent.
According to a nation-wide survey on financial behaviour, India has the highest account dormancy rate even more than countries like Kenya, Tanzania, Uganda, Nigeria, India, Pakistan and Bangladesh.
A look at the key decisions taken by the Narendra Modi government in its six months.
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Denmark has been rated as the country with the best retirement system in the world.
EPFO has verified or attested 64.67 lakh Aadhaar numbers.
Banks now ride on what is defined as a "banking outlet". This is a fixed-point service unit, manned by either the bank's staff or its business correspondent (BC), where all kinds of services - acceptance of deposits, encashment of cheques, cash withdrawal or lending of money - are provided for a minimum of four hours per day, for at least five days a week. Banks are now turning to reposition the manner in which they acquire customers, report Abhijit Lele and Raghu Mohan.
The PM spoke about financial inclusion.
Finance Minister Arun Jaitley announced several reforms.
The meeting with Xi is being held amid the ongoing trade war between the United States and China.
Apart from Gujarat, Shah claimed that co-operative movement is still active in many other states, such as Maharashtra, Karnataka and Rajasthan.
Social integration with inclusion is is most necessary.
According to a PMO statement, Narendra Modi told banks this would be a source of immense satisfaction for them, and that he himself would recognise the achievements of the best performing branches.
Foxconn, which is Apple's largest manufactures, has decided to set up a manufacturing base in India
The mega campaign, to start on Mahatma Gandhi's birth anniversary, will be conducted just before the elections in three major Bharatiya Janata Party-ruled states and also before the 2019 general elections.
On Sunday, August 9, over 400 California-based community leaders from various organisations and inter-faith groups gathered under the Indo-American Community of West Coast USA banner, some of whom were the first to sign up for the event.
A CNN-IBN-Axis MyIndia poll about the Modi Government's first year in power assessed the government's performance from a layperson's perspective.
RuPay has 42% of total debit cards, but contributes only 16% of PoS, e-commerce transactions. With banks scheduled to renew deals with Visa, Mastercard, here's how RuPay plans to increase its reach to premium customers.
The former RBI Governor also emphasised on the need to boost economic productivity and attract investments.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
The Supreme Court on Thursday assured the Centre and bodies like SEBI and RBI that it will take a decision by Friday evening on their plea seeking setting up a larger bench for modifying an earlier order restricting the voluntary use of Aadhaar card to PDS and LPG schemes only.
Around 40% of India Inc feels that Modi govt's biggest weakness in the last 6 months has been its slow pace of economic reforms.
Rajan said that while there were talks about Jan Dhan, it was difficult to target transfers to people through this tool. Jan Dhan, he said, does not really work as advertised.
Sinha, who is steering Sebi efforts to tackle the ponzi menace, said that in regions like West Bengal and North East -- where penetration of banking services is low -- have seen a larger number of people getting trapped in illegal money pooling schemes that promise high returns.
ICICI Bank, ONGC and Tata Motors contribute to nearly 50% gain seen on the Nifty.
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