Indian government expects LIC to have better business this year.
It can be an useful tool in achieving the objective of Pradhan Mantri's Jan Dhan Yojana
Prime Minister Narendra Modi on Friday sounded the poll bugle in Bihar, where assembly elections are due this year, calling for 'an NDA government, once again', which would protect the state from the 'evil intentions' of the Rashtriya Janata Dal-Congress combine.
While a giant, it's a nimble-footed one, and is growing at a speed that even some of its private sector peers find enviable.
Between FY18 and FY24, it doubled its balance sheet. Despite being a late entrant in some segments, it has been able to grab market share, observes Tamal Bandyopadhyay.
Instructions were issued on holding loan camps in the last week of September.
USAID looks forward to working with each to make financial inclusion a long-lasting and sustainable reality in India.
South leads; North-East at bottom but moves ahead, finds out the IndiaSpend Team
Prime Minister Narendra Modi is addressing the nation for the seventh time from the ramparts of the Red Fort on Independence Day on Saturday and it will be his second speech of the second term in office.
In a significant policy shift aimed at boosting agri-productivity and rural prosperity, Finance Minister Nirmala Sitharaman on Saturday announced six new agricultural schemes while increasing the subsidised Kisan Credit Card loan limit to Rs 5 lakh from the existing Rs 3 lakh, benefiting 7.7 crore farmers, fishermen, and dairy farmers.
The meeting will review annual financial performance of public sector banks, credit offtake in the economy, priority sector lending and progress made under various social sector schemes, including Atal Pension Yojana (APY) and Pradhan Mantri Jan Dhan Yojana.
Around 10 crore bank accounts opened under the Jan Dhan scheme.
The court was hearing petitions challenging the Aadhaar scheme.
Trai chairman Rajiv Khullar says, India has to pull up its stocks in order to achieve financial inclusion.
Eight out of about 40 schemes are with the nomenclature starting Pradhan Mantri, but except Gramin Sadak and Rozgar Yojana, most others go barely acknowledged.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
The Jan Dhan scheme restricts the scope of life insurance cover to bring down burden on the exchequer.
As the Jan-Dhan scheme completes a month since its official launch, reports coming in from various parts of the country suggest the stated target of 75 million new accounts will be achieved much before January 26 next year.
Post Office has 1,54,000 rural branches.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
Finance Minister Nirmala Sitharaman on Saturday announced six new schemes and increased the subsidised Kisan Credit Card (KCC) loan limit to Rs 7 lakh from Rs 5 lakh, targeting everything from unemployment to crop productivity enhancement across the country. Presenting her eighth budget speech in Parliament, Sitharaman positioned agriculture as "the first engine of growth" and unveiled the Prime Minister Dhan-Dhaanya Krishi Yojana, a flagship program targeting 100 agri-districts grappling with low productivity, moderate crop intensity, and below-average credit parameters.
These are the highlights of the Union Budget 2025-26 presented by Finance Minister Nirmala Sitharaman in Parliament on Saturday.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
He advised banks to facilitate appropriate credit expansion.
The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
High interest rate, policy uncertainty in the year of elections, along with risk aversion led to slow takeoff in credit demand on the corporate front.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
Finance Minister (FM) Nirmala Sitharaman has presented a forward-looking Budget, reinforcing the government's commitment to 'Reform, Perform, and Transform'.
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.
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.
Of the total cash outgo Rs 40,000 crore is towards enhanced expenditure under Mahatma Gandhi National Rural Employment Guarantee Program and Rs 33,771.48 crore have been sought for direct benefit transfer under Pradhan Mantri Jan Dhan Yojana and National Social Assistance Programme.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved.
Seeking to rope in youngsters to promote cashless transactions, Modi said for every person you introduce to the BHIM app, you will get a cash back of Rs 10.
The NDA government has asked states to enrol all MNREGA workers under the three newly-launched social security schemes.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
The applicant must have an operational savings bank account.
The BJP's challenge is whether it can again deflate a Congress, which now looks reinvigorated and has adopted sharper messaging around its 'guarantees', and several regional parties, especially in Bihar, Maharashtra and West Bengal.
Recent documents by NITI Aayog and periodic labour force surveys on employment show that the importance of agriculture is rising in the Indian economy.
