These banks need to build a significant deposit base to start full-fledged banking.
Money changers operating behind the RBI HQ in Mumbai said they would charge a 15% fee to convert Rs 1 crore.
As of now, just about 10 lakh people, out of the total 40 lakh, who were excluded in the draft of the NRC have submitted applications for inclusion of their names in the list of Assam's citizens.
West Bengal Chief Minister Mamata Banerjee, who has sought to blame the Centre for the chit fund scam, has claimed that the central government reduced the rate of interest in small savings to drive depositors towards ponzi schemes.
Sher Shah Suri ruled for only a few years, but his huge influence on India continues six centuries later, reveals Farhat Nasreen.
The government on Thursday appointed PSU mutual funds UTI MF and SBI MF as managers of the corpus lying with postal and rural life insurance entities, a move that could lead to investment of the sum into the booming capital market.
In a bid to augment its revenue, the postal department would soon commence life insurance business, Union Minister for IT and Telecom A Raja has said.
A comprehensive look at one of the most-preferred tax-saving investment option for the salaried class
The rural development ministry has come in direct conflict with the communications ministry, which has refused to accept its request for disbursing wages under the rural job scheme through post offices without charging any fee.
Besides, less than 200 applications have been received by the authorities challenging the inclusion of the names of suspected illegal immigrants in the NRC, a list of Assam's residents, two months after a window was opened for claims and objections.
Soon, farmers in India will be equipped to check out the futures prices of commodities in their villages.
It would help the PSU transform its banking and insurance operations cross 150,000 post offices in the country.
Naidu said his decision was in strict conformity with the provisions of the Constitution and the Judges (Inquiry) Act of 1968.
The stronger-than-expected recovery in remittances -- payments that are key to supporting the economies of many poor countries -- was driven by growth in Europe, Russia, and the United States.
Centre says the very object of demonetisation and elimination of black money will be defeated if a fresh window is given.
Former cycling champion Lance Armstrong on Thursday agreed to pay $5 million to settle a federal suit claiming he defrauded his sponsor, the U.S. Postal Service, by using performance-enhancing drugs, his attorney and federal officials said.
Lord Hanuman has managed to get an Aadhaar card made, but there are no takers for it.
Investors in the 10% and 20% slabs can get better post-tax returns compared to a bank fixed deposit
The Sovereign Gold Bonds will be sold through banks, Stock Holding Corporation of India Limited, designated post offices and recognised stock exchanges -- the NSE and BSE.
This project aims to transform India Post into a technology-enabled and autonomous market leader.
When he is not solving advanced math problems, Floyd Fernandes gives away the kind of information that music buffs spend thousands on, finds Sumit Bhattacharya.
The income tax department on Friday warned against indulging in cash transaction of Rs 2 lakh or more, saying that the receiver of the amount will have to cough up an equal amount as penalty.
The RBI has issued guidelines and the government has notified it.
The Indian Olympics Association (IOA), on Thursday, said that it will not object to wrestler Narsingh Yadav replacing Praveen Rana in the Rio Olympics if he is cleared by NADA in an ongoing dope scandal.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Indian Postal Services and the Western Union plan to expand their joint operations aiming at a bigger slice of the hundreds of thousands dollars that are transferred by Indian diaspora to their loved ones every year.
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.
Of the 650 cases registered in connection with anti-Sikh riots in Delhi, 267 were closed as untraced by the Delhi Police.
The government on Tuesday night announced that Rs 500 and Rs 1,000 will be no longer legal tender after November 8, midnight. Here are the details you need know
Two letter bombs burst in separate places in Thiruvananthapuram on Thursday, one of them in a post office while a crude bomb went off in a nearby rural area, hours before President A P J Abdul Kalam's visit to Thiruvananthapuram.
S Babu has been extending a healing hand to cancer victims and families who have lost their only earning member to cancer.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
The government is understood to be mulling an ordinance to impose penalties on anyone possessing the junked Rs 500 and Rs 1000 notes beyond December 30 when the deadline to deposit them in banks expires.
There are reasons to limit your exposure, even with the rise in rates of small savings schemes.
Machines obey bumbling humanity in ageless India.
The methodology will be announced later this week.
Banks were given 15 days to increase dispensation of Rs 100 banknotes through ATMs which are "widely used"
The Parliamentary Standing Committee on Labour has also suggested that branches and centres of employment exchanges be opened in every district post office where pass-outs can register themselves easily.
'Dementia is going to be a huge challenge for hospitals, doctors, nurses, physiotherapists, health workers and family members.'
The UIDAI said that the claims lack substance and are baseless.
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