The government scheme has a long way to go before its ultimate goals of universal financial inclusion and financial literacy are achieved.
Not only is your privacy stripped stark naked, says Mitali Saran, the system itself is illegal and vulnerable.
Finance Minister Arun Jaitley presented the Union Budget.
Prime Minister Narendra Modi on Thursday launched his government's mega scheme ' Pradhan Mantri Jan Dhan Yojana', declaring that it was aimed at eradicating financial untouchability by providing bank accounts to the poor.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
Indian economy about to take-off
'Modi has entered blunderland as he does not understand the army. He has actually meddled with the army, which is much more damaging than the ignorance of Sonia Gandhi and Manmohan Singh.' 'People had an impression that the BJP was different. Now it has been made very, very, plain that it is not.' 'Look at the contrast in the behaviour of the prime minister. When they burnt buses in Gujarat for an unjust demand, the prime minister addressed them in Gujarati while the army veterans were on relay hunger strike for the 74th day on that day, but no word on this from the PM.'
Amongst those who heard the message of the Bihar results would be Defence Minister Manohar Parrikar, whose realm is simultaneously the country's most complex and -- when something goes wrong -- the most emotive, says Ajai Shukla.
The Indian Army and more recently the Indian Navy have already set up dedicated intelligence branches. It is surprising indeed that the IAF, where real time and timely intelligence is most vital for effective and safe prosecution of the air war, has still not done so itself, says Group Capt (retd) P I Muralidharan.
The government plans a mega launch of the Pradhan Mantri Jan Dhan Yojana (PMJDY) by Prime Minister Narendra Modi on August 28, which is likely to see opening of one crore bank accounts on the first day itself.
'For the first month, we have only had 5.5 million who have paid the tax.' '40 per cent have paid nil as tax; 95 per cent of the taxation for the first two months has come from only 400,000 assessees.' 'So even now, the tax-paying habit, of paying a marginal or negligible amount, or not paying anything at all, is quite prevalent,' reveals Finance Minister Arun Jaitley.
In a recent lecture, RBI governor Raghuram Rajan dished out some frank advice -- don't get into 'jugaad', instead try for the long haul. Only that will sustain in the long-run.
'They want (the ownership and management of PSU banks) to pass into the hands of a private sector entity.' 'Ownership of these banks will go from the public sector to private sector.'
The assessment of PMJDY should be done within the context of the programme.
energy is India's binding supply-side constraint for inclusive growth.
Jim Rogers' decision not to invest now is not India-specific, but has to do with the problems relating to how the major global economies are shaping up.
Facing a tough electoral battle, Congress on Friday made an array of promises in its manifesto like significant cut in power rates, Wi-Fi facilities in public transport, waving off pending water bills and ensuring a graft-free administration if voted to power in Delhi.
It raises three major questions - the incentive compatibility issue, the fairness issue and fiscal challenge, said Panagariya.
Bidders eyeing parts of Canadian smartphone maker than the whole company, say sources
Finance Minister Arun Jaitley on Monday presented the Union Budget for 2016-17.
The National Democratic Alliance government has adopted half measures instead of moving decisively on defence.
After snapping his political alliance with the ruling National Democratic Alliance at the Centre, N Chandrababu Naidu, chief minister of Andhra Pradesh, speaks to B Dasarath Reddy on what he now has in mind.
From Singapore to Almora, Abhishant Pant has survived without cash, and he wants to continue in that state all his life.
As Prime Minister Narendra Modi is set to deliver his third Independence Day speech on August 15, he is inviting ideas from citizens on issues he should speak on
The overdraft facility has been sanctioned in only 40,000 accounts
Partial dismantling of subsidies, movement towards a more transparent policy on natural resources and moves to make India more inviting for foreign investors, are some of Modi government's big achievements.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Following is the full text of Prime Minister Narendra Modi's address from the ramparts of the Red Fort on the 73rd Independence Day.
11th-hour debt restructuring programme offered no concessions to creditors
The Modi government's array of economic policy has been impressive.
Economic reforms seem to be on a slow train, while good old fiscal populism is alive and flourishing.
The government, he said, has implemented 'bold reforms'.
The reason: Vitaly Mutko has delivered victories on the sports field for the past decade and a half to match Putin's ambition of restoring national pride, and the Russian leader stands by the people who give him loyal service.
President Pranab Mukherjee on Monday addressed the first joint sitting of Parliament as mandatorily required under the Constitution after the general elections. The address is the political, economic and foreign policy road map of the Narendra Modi government and covers virtually all crucial areas.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Govt wants to up investment in Railways
'My grandfather was a poor farmer who fought for democracy and freedom in India and who could have never dreamed that his grandson would have the opportunity to sit before you today and be considered for the position of Surgeon General,' Dr Murthy told a US Senate Committee
'She has to get the funds, cut through bureaucratic flab, speed up modernisation, ensure planned acquisitions stick to timelines, make organisational changes and ensure the military is capable of performing the task that it is given,' says Brigadier S K Chatterjee (retd).
The opposition, while not directly stalling Parliament, will insist all legislation goes to standing committees, delaying implementation.
'LIC's proposed investment will come out of what is technically called the 'policyholders funds'.' 'As the name implies, these monies belong to policyholders; that is, you, me and 25 crore others who have taken a total of 30 crore policies from LIC.' 'It is not the government's or LIC's money to play poker with,' says S Muralidharan, former managing director, BNP Paribas.
