-PTI SBI Chairman said there are around 90 crore Debit Cards in the country as against 3 crore credit cards, and pointed out to digital solutions like its own 'Yono' platform as the key for achieving a Debit Card-less country. Mumbai: If the largest lender SBI has its way, it may herald the beginning of the end of the ubiquitous debt cards from the banking system as the bank plans to promote...
More »SEARCH RESULT
Total Matching Records found : 97
Deposits in Jan Dhan accounts cross Rs.1-trillion mark
-PTI * The scheme was launched on 28 August, 2014, with an aim to provide universal access to banking facilities to people in the country * The total balance in over 36.06 crore PMJDY accounts was at Rs.1,00,495.94 crore as on 3 July New Delhi: Deposits in bank accounts opened under Jan Dhan scheme, launched about five years ago by the Modi-government, have crossed the Rs.1 lakh crore mark. As per the latest finance...
More »BHIM UPI, RuPay swipe Mastercard, Visa -Shishir Sinha
-The Hindu Business Line Home-grown payment systems corner over 60% of digital transactions New Delhi: India’s own Bharat Interface for Money (BHIM) and RuPay cards have garnered over 60 per cent market share of the digital transactions business, pushing back global giants such as Mastercard and Visa. BHIM is a UPI-based payment interface that allows real-time fund transfer using a single identity, typically a mobile number or a name. Unified Payments Interface (UPI)...
More »Monthly income per farm household grew between NSSO & NABARD surveys, but so has the level of outstanding loans
A recent report by the National Bank for Agriculture and Rural Development (NABARD) enlightens one about the state of farmers' income and indebtedness in 2015-16. Entitled NABARD All India Rural Financial Inclusion Survey 2016-17 – in short NAFIS 2016-17 – the report says that between 2012-13 and 2015-16 the average monthly income for agricultural households grew by around 39 percent. One may recall that the Key Indicators of Situation Assessment Survey...
More »Banks told to be vigilant on Aadhaar -Manojit Saha
-The Hindu Use OTPs only in the presence of customers: UIDAI The Unique Identification Authority of India (UIDAI) has asked banks to provide Aadhaar-based onetime password (OTP) for opening of bank accounts only in the presence of the customer, in a banking outlet. In a letter addressed to commercial banks, UIDAI Chief Executive Officer Ajay Bhushan Pandey cited instances of misuse of Aadhaar while opening accounts. The direction is a huge blow to the...
More »
