It's been 51 days since Prime Minister Narendra Modi took his 'mitron' by surprise when he announced that Rs 1,000 and Rs 500 would no longer be legal tender. What will the PM tell us on 31/12?
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
Enthused by India's financial inclusion drive, US-based Accion, one of the biggest micro finance organisations in the world, has renewed its focus in India. Michael Schlein, bottom, left, chief executive officer of Accicon, tells Namrata Acharya in an email interview the Wall Street and Silicon Valley are eager to participate in opportunities presented by the issuance of the small finance and payment bank licences, the expanded banking correspondent opportunities, and the Jan-Dhan Yojna.
The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
'So you have welfare programmes, you reach out to the poor, you cut out the middlemen, you cut out the leakages and you try to raise the standard of living.'
India must remain an integral part of the global economy if it has to grow at 9-10 per cent over the next three decades, Niti Aayog CEO Amitabh Kant said on Tuesday. Speaking at the 15th India Digital Summit, Kant said India needs to become a major global exporting nation, without that it will not be possible to become richer and create wealth for its people over the next three decades.
The department has found that Rs 100 crore were deposited in 500 Jan Dhan accounts in the banks in western Madhya Pradesh post-demonetisation.
Surjewala alleged that Mehta and his family were allowed to leave India even when there were complaints pending against him with the CBI.
Modi said the country needs to increase domestic output of energy.
Policymakers should consider the challenges of beneficiary identification, distributor opposition and beneficiary financial inclusion.
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.
Prime Minister Narendra Modi on Sunday hosted a high tea for all National Democratic Alliance members of Parliament -- the first such event after the Bharatiya Janata Party-led alliance stormed to power in May -- and utilised the occasion to ask them to be a symbol of positive political entity.
A look at the key decisions taken by the Narendra Modi government in its six months.
Prime Minister Narendra Modi on Thursday said his government is using all channels including diplomatic to bring back high-profile economic offenders, leaving them with no option but to return to the country. Speaking at a symposium on credit flow and economic growth, he asked banks to support wealth and job creators with proactive lending while promising to stand by any loans given in right earnest. "In our attempt to bring back fugitive (economic offenders), we relied on policies and law and also used diplomatic channels.
Union Finance Minister Nirmala Sitharaman on Friday said the Indian economy is on a sustained path of revival and cited rise in GST collections and direct taxes to support her assertion. She further said that the confidence in the Indian stock market is growing as retail and small investors are keenly investing money in the share market. She was addressing the media in New Delhi.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
Post Office has 1,54,000 rural branches.
Finance Minister Nirmala Sitharama on Thursday stated the government is planning to provide a relief package of Rs 1.7 lakh crore to the underprivileged, poor and migrant workers affected by the lockdown amid the coronavirus outbreak. The scheme has been named the Pradhan Mantri Garib Kalyan Scheme.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
The government has provided no official explanation behind the note ban that is backed by hard data, says Debashis Basu.
'Both the BJP and SP have workers and cadres across the state, and now it will boil down to which party manages booths smartly and gets its voters to come out.'
MFs continue to find it difficult to attract and retain long-term money from investors
To kick-start the work under MGNREGA after the lockdown is lifted, the government has already prepared plans and states have also submitted their work plans.
The districts are Gondia (Maharashtra), Raj Nand Gaon (Chhattisgarh), Davangiri (Karnataka), South Goa, Wayanad and Kottayam (Kerala), West Imphal (Manipur), Rajouri (J&K), Aizwal West (Mizoram), Mahe in Puducherry, SBS Nagar in Punjab, Patna, Nalanda and Munger in Bihar, Pratapgarh in Rajasthan, Panipat, Rohtak and Sirsa in Haryana, Pauri Garhwal in Uttrakhand and Bhadradari Kothagudem in Telangana.
All eyes will be on what the prime minister says as his August 15 addresses have often been marked by big announcements, his government's achievements and bringing to people's attention what he believes to be the major challenges facing the country.
Customers have other options available to them to do low-value transactions, if wallets start mandating full KYC and would switch to those.
The NPR data can be used for transparent and efficient delivery of social benefits by linking it with various beneficiary oriented government schemes, they said.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
Praising Prime Minister Narendra Modi's style of functioning, Union Minister M Venkaiah Naidu on Sunday said the leader neither sleeps nor allows his Cabinet colleagues to do so.
Attacking the Congress, Prime Minister Narendra Modi on Friday said the country has suffered due to 'backseat driving' and 'remote control' and warned people of Assam against an unstable government in the state.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
While GST and insolvency laws are among the major achievements of the Modi government, the list of failures include demonetisation, toxic banks, manufacturing hiccups and most prominently bizarre job creation figures. Mihir S Sharma takes a look at the four years of Modi government.
This includes an infrastructure push which may lead to the government spending more than its budgeted capital expenditure for 2020-21. There are also discussions on increasing the scope and quantum of direct cash transfers to the beneficiaries who need it the most.
'There is lack of demand because people have no jobs, and no income.' 'Lakhs of people have lost their jobs and they have no income which has led to no demand in the market.'
The song -- Mera desh badal raha, aage badh raha hai (My country is changing, moving forward), which is part of the government's plan of a string of events to mark the completion of two years of Modi government on May 26, was released on Twitter.
Since 2014, many of Mohan Bhagwat's speeches have acted as cues for government policy.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
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