Once implemented, customers making payments using Rupay card or BHIM UPI will get a cashback of 20 per cent of the total GST amount, subject to a maximum of Rs 100.
The decision is in response to the strike call given by United Forum Of Bank Unions, which has more than 10 lakh (1 million) employees and officers of banking Industry under its umbrella.
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
The President noted that this is an opportune moment for the country to play a decisive role in the fourth industrial revolution.
Congress had attacked Narendra Modi during the Lok Sabha campaign on social media under the hashtag 'Feku'.
As and when the pandemic recedes from these shores, rebuilding the economy will be the biggest challenge for Modi in the remaining three years of his term, observes Virendra Kapoor.
Lens on rural transactions. Only 38% of branches of scheduled commercial banks (SCBs) are in rural areas
It also advocated adoption of technology platforms and innovative models.
Even though he consults chief ministers at regular intervals, the ultimate decision is still his own. He will be blamed, nobody else, if, god forbid, there is a huge spurt in fatalities after the reopening, notes Virendra Kapoor.
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.
A minimum of 50 per cent tax may be levied on unexplained bank deposits made using the banned currency notes up to December 30 along with a 4-year lock in period for half of the remaining amount under the amendments to tax law the government plans to bring in Parliament shortly.
Floats from 13 states, including Bihar, West Bengal, Odisha weren't present at parade
'The government and the RBI have been playing a very good part in terms of inflation management.'
Vinay Sahasrabuddhe explains BJP's strategy.
In his four-page letter in Hindi, the PM said that better infrastructure and rule of law are imperative for social and economic prosperity and only the NDA can provide that in Bihar.
Gandhi accused Prime Minister Narendra Modi of being 'casteist' and 'anti-Dalit', and said his party will always stand against the BJP's 'oppressive' ideology.
The finance minister termed rationalisation of subsidies as 'unsung reforms'.
There's unintended hilarity and very little combat to justify the existence of a sequel, feels Sukanya Verma.
Modi govt says its economic score on all coutns is very good.
Can welfare schemes truly transform from being flagship to flag-bearers for a government that is looking to get a second term in 2019?
'Urjit Patel was not quite the picture of courage, but even he turned, he had to turn.' 'Perhaps there is something that is far more sinister than what we are aware of, which is the reason for his resigation.'
179 million debit cards were issued during December 2016 to June 2018. A mere 2,000 ATMs were opened in the same period.
The FM asserted that nearly Rs 11.85 lakh crore out of the Rs 15.44 lakh crore junked notes were back into the system
The NDA government has asked states to enrol all MNREGA workers under the three newly-launched social security schemes.
Syed Firdaus Ashraf/Rediff.com lists 11 Modi flagship schemes that may have been gamechangers in the Lok Sabha election.
The bench also said that a seven-judge bench needed to be constituted for authoritatively deciding a batch of petitions challenging the Aadhaar scheme on grounds including that it infringes on the Right to Privacy of citizens.
The Union home ministry and the labour ministry have asked state governments to coordinate with the chief labour commissioner's (CLC's) office to give a comprehensive data of all the migrant workers by April 11.
RJD chief Lalu Prasad took out a march on the main roads in Bihar capital on Sunday to protest against the Modi government's failure to bring black money.
'Twitterati on either side of the political fence needs to walk for a day or two in a chowkidar's shoes to understand how precariously India's unorganised sector teeters on the brink,' says Geetanjali Krishna.
He urged Congress-run states to also help elevate the poor.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
'Public sector banks are like an extended arm of the government.' 'They rush to rescue certain sectors or they rush to invest in certain sectors to prop up the economy which the private banks don't.'
The venture is applying to the Reserve Bank of India for approvals.
The apex court had permitted only voluntary use of Aadhaar for welfare programmes including MGNREGA, all pension schemes, provident fund and Pradhan Mantri Jan Dhan Yojna.
The prime minister also said the government has offered to discuss clause by clause of the three farm laws and if there are any shortcomings it was ready to make changes.
All-women bank to take wings across states.
The finance ministry on Sunday highlighted its achievements during the past six months, including the Jan-Dhan Yojana, Varishtha Pension Bima Yojana, and actions taken to curb black money.
Union Minister Arun Jaitley while releasing the document said BJP's manifesto is particularly aimed at improving the social infrastructure in Punjab, even as he slammed Congress for its policies which he alleged paved way for militancy in Punjab in 1980s and termed its 2002-2007 tenure in power as "most dishonest and corrupt".
Reminding the Bharatiya Janata Party government of its poll promise of bringing back black money, Congress general secretary Digvijay Singh on Thursday dared the Centre saying if it has courage it should reveal the name of account holders.
Modi said that in the last four years the government has worked for creating a New India by 2022.
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