Trai chairman Rajiv Khullar says, India has to pull up its stocks in order to achieve financial inclusion.
The court was hearing petitions challenging the Aadhaar scheme.
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.
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.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
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.
The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
Can welfare schemes truly transform from being flagship to flag-bearers for a government that is looking to get a second term in 2019?
Post Office has 1,54,000 rural branches.
'Unless banks focus on the Rs 10-15 lakh loan segment, growing affordable housing will remain a challenge.'
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
'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.'
The Budget will 'further reignite our growth engine, signalling the dawn of a prosperous future.'
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.
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.
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.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
He advised banks to facilitate appropriate credit expansion.
Right now there are about 30 lakh (3 million) subscribers under the Swavalamban scheme.
It is likely he will rope in an international ATM manufacturer as a strategic partner with equity stake.
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.
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.
Gross non-performing assets of public sector banks have gone up.
Recently, the government announced yet another ambitious scheme aimed at providing health insurance to 50 crore individuals.
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.
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The Bharatiya Janata Party government at the Centre is firmly committed to ensure security all Northeast states said Prime Minister Narendra Modi while addressing a large gathering of BJP workers at the Sarusajai National Games stadium in Guwahati.
The states will be asked to tap the Centre's JAM trinity.
The NDA government has asked states to enrol all MNREGA workers under the three newly-launched social security schemes.
Tax deduction limit up Rs 50K for investment in pension fund.
Debit card payments remained sluggish due to the surge in digital transactions after the pandemic, and the Unified Payments Interface (UPI) has emerged as the most popular mode of money transfer, particularly for small value transactions, according to RBI data. In July 2020, the total debit card spends stood at Rs 2.81 trillion, as compared to Rs 3.15 trillion in July 2023, reflecting a growth of 11.96 per cent. UPI spends have seen a whopping growth of 428 per cent, zooming from Rs 2.90 trillion to Rs 15.33 trillion during the same period, the data revealed.
The applicant must have an operational savings bank account.
Finance Minister Nirmala Sitharman on Friday met her counterparts in Singapore and Canada and discussed various issues, including economy, health and opportunities for collaboration. Sitharaman met UK Chancellor of the Exchequer Rishi Sunak, Singapore Finance Minister Lawrence Wong and Canada's Deputy Prime Minister & Finance Minister Chrystia Freeland on the sidelines of the G-20 Joint Finance and Health Ministers' meeting. "Finance Minister Smt. @nsitharaman had an engaging discussion with @cafreeland Dy. Prime Minister & Finance Minister of Canada on the sidelines of #G20 Finance & Health Ministers Meeting in #Rome. The Ministers discussed various issues, including economic and health cooperation," a Finance Ministry tweet said.
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
Under the proposed mechanism, the finance ministry has said banks will notify customers when someone tries to deposit money in their accounts, a government official said.
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.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
The 13th edition of the flagship congregation of diaspora is coinciding with the 100th anniversary of Mahatma Gandhi arriving back to India from South Africa in 1915, to eventually lead the country towards attaining freedom.
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
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