The scheme, which would give Rs 6,000 to small farmers in a year or Rs 500 a month, will add more money to the account of these cultivators than the money he/she saves every month on an average.
On his PIL, the SC had in 2013 directed the Centre and the states to set up a Civil Services Board to decide on transfers of officers.
Prime Minister Narendra Modi will address the India-US Startup Konnect and share his vision on 'Start up India, Stand up India' as part of his US visit later this month.
The PM said Japan and the Indian diaspora has a big role to play in India's growth story.
Floats from 13 states, including Bihar, West Bengal, Odisha weren't present at parade
The company will transfer its wallet business, which has over 218 million mobile wallet users, to the newly incorporated entity -- PPBL -- under the payments bank licence awarded to Vijay Shekhar Sharma, the founder of One97 Communications that owns Paytm.
Former Banque de France head Jacques de Larosire was given the Lifetime Achievement Award for his lengthy struggle for monetary order, the magazine said in a statement on Monday.
It is widely believed that Nandan Nilekani's meeting with Prime Minister Narendra Modi saved the ambitious Aadhaar project from oblivion or a takeover by the home ministry.
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
Withdrawals from basic savings bank deposit accounts are capped at four a month, including withdrawals via ATMs.
While digitisation and automation have made internal processes more efficient, front-end products are being enhanced digitally through robotics, artificial intelligence and botchats.
Chanda Kochhar said a large section of youth, mainly underprivileged have little access to training that can increase their employability.
The advice your mother gave you about choosing your friends wisely got a whole new meaning with lenders looking at your social media posts
The Paytm Payments Bank will be headquartered in Noida and kick off its services from east and north to begin with
It was supposed to be a panacea against corruption, leakage and a magic wand for financial inclusion. But everywhere you look are people who enrolled, only to fall through the cracks again.
It might be difficult to repeat the SKS success with VAYA Finserv, say analysts
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
Umesh Sachdev's startup produces software allows people to interact with their phones in local languages.
Microsoft on Tuesday said it will offer commercial cloud services from local data centres in India by 2015 as the tech giant gears for competition for the estimated $2 trillion domestic market opportunity from rival firms like Google and IBM.
RBI had earlier permitted minors to open fixed and savings deposit bank account with mothers as guardian.
ICICI Bank chief Chanda Kochhar on Wednesday said "disruption" will happen in the industry due to technology and not because of the entry of new entities in the market.
State Bank of India does not levy any charge for non-maintenance of a minimum balance in basic savings account.
Pradhan Mantri Jan Dhan Yojana scheme will help in bringing the benefits of formal banking system to even the poorest of poor.
The other key issues to be taken up at the summit, which is expected to be attended by Prime Minister Narendra Modi, will include raising the global GDP by an additional 2 per cent in the next five years and boosting infrastructure sector funding.
The Pradhan Mantri Jan Dhan Yojana will provide accident insurance of Rs 100,000 to all people who open bank accounts under this scheme.
Totackle the serious challenges faced by the banking sector, the government will bring in more professional management and boards in the banks.
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SBI will hold 30 per cent in RIL joint venture
The department of financial services has decided to give banks commission, to ensure these accounts are kept active.
An executive director of a bank could, for example, be elevated to the post of chairman of a different bank.
The elements are all aligned to make India a global powerhouse, says IMF Managing Director Christine Lagarde.
'Digital India' initiative has a huge potential, he said.
'Nationalism built on divisiveness cannot strengthen the country, or help the economy improve its performance,' points out T N Ninan.
The two states account for 24% of total accounts opened under financial inclusion scheme.
Finance Minister Arun Jaitley on Sunday said the government is planning to bring down its stake in public sector banks to 52 per cent so as to meet Rs 3 lakh crore capital requirement.
A RBI constituted panel on financial inclusion headed by Nachiket Mor had recommended the setting up of the payments banks in order to deepen access to finance.
Lauding the pro-reforms approach adopted by Reserve Bank of India Governor Raghuram Rajan, industry body Confederation of Indian Industry on Thursday expressed the hope that the central bank would shift towards an expansionary monetary policy by cutting interest rates to stimulate growth.
Pointing out that these recent measures are incremental rather than radical, Moody's said, these steps will sustain higher gross domestic product growth and address some of the constraints on the country's sovereign credit profile.
What stocks will gain from a normal monsoon?
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Tata Sons, India's biggest business group, and firms controlled by billionaires Anil Ambani and Kumar Mangalam Birla are among the 26 companies that have applied for licences to open banks.
'Breaking down silos and ensuring a more integrated governance process is just as important to performance.' 'It has been a major priority in the last six years, especially in national security,' External Affairs Minister Dr Subrahmanyam Jaishankar points out when delivering the Sardar Patel Memorial Lecture-2020: India and the Post-Covid World.
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