-The Times of India MUMBAI: Crores of Pradhan Mantri Jan Dhan Yojana (PMJDY) account-holders risk either having their accounts frozen or having charges imposed if they exceed four debit transactions in a month. Vague wording of the Reserve Bank of India's guidelines on basic savings bank deposit accounts (BSBDA), which include PMJDY accounts, has led to Banks conjuring up ways to cap free transactions. The norms applicable to PMJDY accounts are those...
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CVC examines CBI probe in top bank frauds, including Vijay Mallya's
-PTI CVC Commissioner says bankers need have no fear if their decisions are bonafide New Delhi: The Central Vigilance Commission (CVC) is supervising CBI's probe in 10 top bank fraud cases, including one involving fugitive businessman Vijay Mallya, and says bankers need have no fear if their decisions are bonafide. Vigilance Commissioner T M Bhasin told PTI that bankers need to "muster courage" to recover their money individually or collectively from defaulters. His assertion...
More »PPF, NSC rates slashed again; here's how much return small savings schemes will give now -Sanjeev Sinha
-The Financial Express If you are a risk-averse investor and have been banking on small savings schemes for the purpose of saving and investment as well as building your retirement nest egg, then there is some bad news for you. For, the government has reduced the return on small savings schemes – including Public Provident Fund (PPF), NSC, Kisan Vikas Patra and Senior Citizen Savings Scheme — by 10 basis points....
More »Aadhaar centres only at government premises from September
-PTI Aadhaar-issuing authority UIDAI has asked states to ensure that all enrolments, even those by private agencies, shift to government or municipal premises by September this year New Delhi: Aadhaar-issuing authority Unique Identification Authority of India (UIDAI) has asked states to ensure that all enrolments, even those by private agencies, shift to government or municipal premises from external sites by September this year. The move will have a bearing on 25,000 active enrolment...
More »Agriculture finance: Post-demonetisation, cooperative Banks in Maharashtra fail to disburse kharif crop loans to farmers -Partha Sarathi Biswas
-The Indian Express First, it was demonetisation and crop price crash; now it is the collapse of cooperative credit that is hurting farmers during peak kharif operations. For most Maharashtra farmers, drying up of institutional finance for kharif farming operations is what’s really hurting. Nashik (Maharashtra): Last kharif, the Nashik District Central Cooperative Bank (NDCCB) disbursed Rs 1,608.55 crore of crop loans during April-June, exceeding its target of Rs 1,257.18 crore. This...
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