The country's largest lender SBI will levy charges for cash withdrawal beyond four free transactions in a month from customers holding the basic savings bank deposit (BSBD) accounts. These customers will also be levied charges for cheque book beyond 10 leaves in a year. As per the revision in service charges for BSBD accounts, State Bank of India (SBI) will levy charges ranging from Rs 15 to Rs 75 for the "additional value added services" with effect from July 1, 2021.
The Reserve Bank of India (RBI) on Wednesday proposed to make interoperability mandatory for digital payments firms. It also allowed users to withdraw cash from e-wallets and fintech companies to process RTGS and NEFT transactions. The RBI expressed dissatisfaction over prepaid payment instruments' (PPIs') failure to migrate towards full-KYC (know your customer) PPIs, and therefore interoperability, even two years after guidelines were issued.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
Rapid strides in digital payments notwithstanding, the Indian economy will likely remain cash-dependent for many years to come, at least that's what the automated teller machine makers and cash logistics companies are betting on. After growing at over 20 per cent for most of 2020, currency in circulation growth fell to 8.5 per cent as of October 29 this year, shows data from the Reserve Bank of India (RBI). The reason for the steep rise in currency last year was the uncertainties related to the Coronavirus (Covid-19) pandemic, where people preferred to hoard cash to meet exigencies.
A meeting convened by Congress president Sonia Gandhi on Friday afternoon will see the leaders of around 20 opposition parties come together on a common platform through video-conferencing.
Unified Payments Interface launched to simplify mobile banking.
Systematic Withdrawal Plan, or SWP, can help you achieve your financial goals. Ramalingam Kalirajan's step-by-step guide on how to effectively use an SWP.
The documentary captures the pain and helplessness the migrant labourers and their families are feeling, as they long to return to their villages after losing their means of livelihood in cities due to the lockdown over the novel coronavirus pandemic.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
'It is time to think up a policy of incentivising farmers in the states around Delhi.' 'Let's say a farmer is given an incentive for not burning his crop stubble and instead handing over the task of incinerating the crop stubble to a State-run-or-funded community initiative.' 'The incentive can take the form of, say, fertilisers, or even direct cash transfers,' recommends Somasekhar Sundaresan.
The law officer said the money trail showed that Rs 45 crore "kickback" used in the Goa assembly elections came from four hawala routes.
The ED had launched raids on Friday at multiple locations linked to Prasad's family members including that of his son and Bihar Deputy Chief Minister Tejashwi Yadav in Delhi.
The phased increase of prices is being done to sell the fuel at international prices.
The Central Board of Direct Taxes is considering a proposal to widen the ambit of the Annual Information Return to cover cash cards issued by non-banking financing companies in the country, official sources said. The AIR currently covers seven kinds of transactions, including cash deposits in savings bank accounts of over Rs 10 lakh in a year, credit card billing of over Rs 200,000 a year and purchase of property over Rs 30 lakhs (Rs 3 million).
Is it a case of poor targeting of a welfare scheme, or is it a reflection of the government's desire to expand the scope of this benefit to secure greater electoral dividends? asks A K Bhattacharya.
Salil Dhawan of Investment-Mantra.in evaluates Airtel Money -- a mobile money transfer service started by mobile service operator Bharti Airtel.
Right to apprenticeship, legal guarantee for MSP, passing a constitutional amendment to raise the 50 per cent cap on reservations for SCs, STs and OBCs, a nation-wide caste census and scrapping of Agnipath scheme are among the promises made by the Congress in its Lok Sabha polls manifesto released on Friday.
Nandan Nilekani complimented RBI on granting licenses to payments banks, calling it 'a great revolution'.
Delhi Minister Satyendar Jain has been getting special treatment inside the Tihar Jail, sources said quoting an affidavit filed by the Enforcement Directorate in the trial court as he meets with his wife regularly.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
The raids were carried out in Punjab, Haryana, Rajasthan, Uttar Pradesh, Delhi and the Union Territory of Chandigarh by the NIA as part of a mega operation that began early Thursday morning, a spokesperson of the premier investigating agency said.
A bench headed by Justice L Nageswara Rao directed the state governments to get help from the National AIDS Control Organisation (NACO) and legal services authorities to identify sex workers and maintain confidentiality pertaining to the identity of sex workers.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
While the Congress is in power in Rajasthan and Chhattisgarh, Madhya Pradesh is ruled by the Bharatiya Janata Party, Telangana by the Bharat Rashtra Samithi and Mizoram by the Mizo National Front.
The government appointed panel will look at the difficulties consumers faced in receiving the subsidy after buying gas cylinders at market rates.
CEC Sunil Arora will meet former heads of Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs on Friday to discuss ways to keep a check on black money disbursements in South India, especially Tamil Nadu.
New schemes allows consumers without Aadhaar to receive cash directly in their bank accounts
Now the PMO needs to take the food sector reforms forward.
She suggested several measures such as protection of doctors, easing the supply chains and deferment of loans.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
Banks shall not charge fees for transactions settled on IMPS and UPI in excess of rates charged for NEFT for transactions above Rs 1,000, the order said.
Reiterating warnings made in dropped leaflets, the IDF's Arabic spokesman Lieutenant Colonel Avichay Adraee directed Palestinians to continue moving south of Wadi Gaza.
In the new year be careful online as there are many scamsters lurking in the cloud, warns A Ganesh Nadar after twice escaping being scammed.
The Supreme Court on Wednesday asked the Jalan-Kalrock consortium, the new owners of cash-strapped Jet Airways, how much have they paid towards dues on account of provident fund and gratuity to the former employees of the troubled airline. The top court made the query while commencing the hearing on a batch of petitions, including the one filed by the Jet Aircraft Maintenance Engineers Welfare Association, against the October 21, 2022 order of the insolvency appellate tribunal NCLAT.
The prime minister made it clear that the BJP stood for the welfare of farmers and was committed to them
If the LPG consumer does not have an Aadhaar number, he can directly receive subsidy in his bank account without the use of Aadhaar number
Some members held placards of news reports about unemployment figures.
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
The Enforcement Directorate on Monday conducted raids against arrested Delhi minister Satyendar Jain as part of a money-laundering probe linked to an alleged hawala dealings case being conducted against him, officials said.
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