The nearly 10 crore farmers who hold kisan credit cards (KCC) will soon be able to use their card as a deposit account and a debit card. This will help the government scale up its financial inclusion plan quickly without relying on Bank Accounts alone. KCC, which has been instrumental in faster delivery of credit to farmers, is like an overdraft account with a bank that has to be operated through a...
More »SEARCH RESULT
Total Matching Records found : 1495
Micro ATM launched by UIDAI for daily wagers with Aadhaar
-The Financial Express The Unique Identification Authority of India (UIADI) has launched a micro ATM device that would enable beneficiaries like MG-NREGA workers with Aadhaar to withdraw money near their doors through core banking system. "The beneficiary has to put his finger and Aadhaar number in to the micro ATM wireless device and get the money within 8 to 9 seconds from a business correspondent after verification about the beneficiary having that...
More »Black money: I-T gets wary about secret bank account names; asks for oath
-PTI In order to guard against possible leakage of names figuring in the secret Bank Accounts lists it has received from foreign shores, the Central Board of Direct Taxes CBDT has ordered the I-T department to obtain a signed undertaking from any government entity or department who demands the data for their own probe. The CBDT fears that if these names are leaked and they are publicised, global financial bodies like OECD...
More »Swami Agnivesh’s NGO gets showcause notice for alleged fudging of accounts
-Express News Service The Delhi Government served a show cause notice to the Bonded Labour Liberation Front, an NGO run by activist Swami Agnivesh, for the alleged fudging of bills with respect to a grant of Rs 18 lakh given by the government to the NGO. The notice has asked the organisation to return Rs 2.23 lakh of the grant which was given in 2005 to conduct a survey on bonded...
More »SBI to use BCs for farm loan recovery
-The Business Standard Achieves total financial inclusion in Andhra Pradesh. State Bank of India (SBI) is planning to use the rural banking correspondent (BC) network for farm loan recoveries in addition to the services prescribed under the financial inclusion plan by the Reserve Bank of India. The SBI’s Hyderabad circle with operational jurisdiction extending to the entire state of Andhra Pradesh is one of the first to achieve total financial inclusion. It has...
More »
