-The Hindu The report of an RBI-appointed committee on financial inclusion and financial deepening has stimulated a wide-ranging debate on these crucial areas. However, policy measures initiated by the government and the RBI while adding to the numbers of new bank branches, new accounts and so on did not really enhance the quality of such inclusive practices. In September last year, the RBI asked the committee chaired by Nachiket Mor...
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Have bank accounts for all by Jan 2016: RBI panel
-PTI MUMBAI: Recommending sweeping changes in the banking structure, an RBI panel on Tuesday suggested setting up of specialized banks to cater to low income households to ensure that all citizens have bank accounts by 2016. It also suggested that facility for withdrawal, payment and deposit should be set up within a 15-minute walking distance anywhere in the country. "By January 1, 2016 each resident, above the age of 18, would have an...
More »After four days of intense negotiations, India has its way at WTO-Sidhartha
-The Times of India BALI: After four days of intense negotiations, World Trade Organization members are set to accept the government's demand on food security that will protect India and other developing countries from penalties for breaching the domestic support cap of 10% of value of production. In return, the government agreed to a new agreement on trade facilitation, the first since WTO was set up nearly two decades ago, that...
More »EC lays down guidelines to regulate campaigning on social media -Bharti Jain
-The Times of India NEW DELHI: Political parties and candidates will now have to account for every penny spent on the use of social media for their poll campaigns. The Election Commission on Friday issued detailed guidelines to regulate internet campaigns on Twitter, Facebook, YouTube etc, asking candidates to declare their social media accounts and all political parties to pre-certify advertisements before they are posted on social media websites. The instructions also require...
More »Electronic payment can save 1.6% of India's GDP: WB-Somesh Jha
-The Business Standard Says Electronic payments can help manage fraud and leakage risks in government payment programmes The role that technology plays in the economy has become so integral that it can't be ignored, said a recent report by the World Bank. According to the report, Electronic payments can save over one per cent of India's gross domestic product (GDP). "Cash may still be king at times, but compared with Electronic payments, cash...
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