The Jan-Dhan accounts are zero balance accounts, comes with a life cover of Rs 30,000 per person, and an accidental cover of Rs 100,000. An active user of the account can also get overdraft facility of Rs 5,000 from banks.
The agenda for the year 2020 is well laid out -- launch of UDAY 2.0, installation of smart pre-paid metres, prompt payment by discoms, making coal available for short term and reviving gas based plants. But, it has to ensure effective implementation of various policy tweaks done so far.
Aadhaar will provide a big platform to fight corruption, said UIDAI Chairman Nandan Nilekani, who is expected to contest forthcoming Lok Sabha elections on Congress ticket.
Telecom and IT Minister Ravi Shankar Prasad said one of the primary focus areas of Digital India is Pillar 5: eKranti - electronic delivery of services.
As many as 24.27 crore accounts have been opened under the scheme and the percentage of zero balance has come down to 24.43 per cent
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
He also made an appeal not to 'overblow' the issue of data breach.
'As people have moved from cities to small towns and villages, they have carried the infection into new territories.' 'Poor healthcare infrastructure in these places should be a big worry in the days to come.'
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
The government is coming up with this new law, replacing the Consumer Protection Act 1986, which will incorporate the revised 2015 UN guidelines on consumer protection.
Venkaiah Naidu said Aadhaar will not be made mandatory till the entire population gets such cards or UID numbers.
The outgo for major subsides, is the highest in the first quarter.
The two states account for 24% of total accounts opened under financial inclusion scheme.
The Finance Ministry on Thursday expressed hope that domestic diesel prices will soon become market linked in the backdrop of softening global crude oil rates.
IIM Ahmedabad's CIIE signed a MoU with Tata Trust for founding partner for the Bharat Fund, which will provide seed funding to Indian entrepreneurs.
The amended bill also provides for a stiff Rs 1 crore penalty and a jail term for private entities for storing Aadhaar data.
Describing DBT for LPG as a 'tremendous success,' Oil Minister M Veerappa Moily said the programme, when implemented throughout the country, would help save Rs 8,000-9,000 crore (Rs 80-90 billion) of subsidy from going to unintended beneficiaries.
Says GDP growth rate from 2014-15 to 2015-16 will be greater than that of 2014-15 from 2013-14
'Don't be under the illusion that we are in a lockdown for 21 days and then we are free.'
Sleep has been a casualty for Vijay Shekhar Sharma, whose wallet company Paytm has a user base of close to 150 million and is working 20 hours a day.
Led by the country's largest lender State Bank of India, banks have opened over 3 crore basic accounts within a fortnight of the launch of the scheme on August 28.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Sources close to the PM say he will not be panicked into generating short-term results at the cost of longer-term goals
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
Jaitley said growing at 8-10 per cent for a significant number of years will help India find an answer to poverty.
Former chairman of the UIDAI Nandan Nilekani, elucidates how Aadhaar could become the spine for alternative banking and could replace government services with cash benefits.
The DoP has moved a Cabinet note for the government to provide Rs 500 crore (Rs 5 billion) as initial capital to India Post towards starting a bank.
All Jan Dhan bank accounts should be linked to Aadhaar, Prime Minister Narendra Modi said on Saturday while asking bankers to speed up this process and redouble efforts on financial literacy.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Finance ministry asks bank, insurance & market regulators to issue notifications
Milind Deora, minister of state for communication and information technology and shipping, is one of the Congress' young guns under Rahul Gandhi. He tells Kavita Chowdhury that the core problem for the United Progressive Alliance in its second term has been its inability to communicate effectively. Edited excerpts:
A new formula for pricing natural gas in the domestic market was determined; the decontrol of diesel prices was announced; and the scheme that directly transferred subsidies to bank accounts of users of liquefied petroleum gas (LPG) cylinders was modified and relaunched.
AG Venugopal asserted that right to privacy could not be bundled as a single right in a developing country like India where a few persons, claiming right to privacy, override the fundamental rights of 60-70 million people, who did not have access to basic amenities like food and shelter.
The Child Protection Services programme under the Integrated Child Development Services was increased to Rs 1,500 crore from Rs 925 crore.
YIM has been instrumental in more than 90 young Indian scientists going back to India.
'To bring about a paradigm shift in farmers's income, we need to change our approach to agriculture, and transit from the narrow prism of cultivation to a full-fledged enterprise, by building all associated supply chain linkages.' 'This alone will make the farmer an entrepreneur in his own right.'
Nilekani said new-age technology markets work on a winner-takes-all basis.
The appointment of Yogi Adityanath as UP CM, the revival of the Ram Temple movement, the elevation of a ban on cow slaughter as a national priority, and the targeting of any social behaviour deemed contrary to a set of narrowly prescribed Indian values point to a social regression that contradicts the inclusive and forward-looking impulse that underlies Modi's vision of a modern India.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
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