-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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SBI ATM, online, cash transaction fees change from June 1: All you need to know -Ramarko Sengupta
-The Times of India State Bank of India (SBI) has revised service charges on ATM (Automated Teller Machine) withdrawals for users of its mobile app "SBI Mobile Buddy", as well as for various other cash and online transactions, effective from June 1. The country's largest lender will start charging customers Rs 25 per transaction for withdrawing money from an ATM through its mobile wallet app from Thursday. The SBI mobile wallet allows...
More »The real beneficiary -Reetika Khera
-The Indian Express Aadhaar doesn’t empower people, only the state Ironically, in the week that the UIDAI revealed its draconian face, serving a legal notice to those who exposed flaws in the Aadhaar eco-system, Ajay Pandey (CEO, UIDAI), wrote, “The critics tend to forget that Aadhaar empowers the people, not the state” (‘Criticisms Without Aadhaar’, IE, May 13). However, government data reveals that Pandey is wrong to believe that “Aadhaar empowers...
More »Centre gears up to expand direct transfers to all 536 schemes -Surabhi
-The Hindu Business Line At present only 84 Central schemes are under DBT New Delhi: Hoping to give a push to its ambitious scheme for cash transfer of subsidies, the Centre is in talks with nodal ministries and implementing agencies to expand the ambit of direct benefit transfer and Aadhaar seeding to all 536 schemes by the end of the year. “The objective is that service providers as well as service receivers in...
More »Before Universal Basic Income, We Must First Get Social Spending Basics Right -Anjana Thampi and Ishan Anand
-TheWire.in The Economic Survey 2016-17 devotes a chapter to the provision of a Universal Basic Income (UBI), describing it as a “raging new idea,” a “radical new vision” and “the shortest path to eliminating poverty”. While warning that the UBI “should not become the Trojan horse that usurps the fiscal space for a well-functioning state,” the survey says a de facto UBI can be instituted in the existing “fiscal space”. It...
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