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CBDT urges jan dhan holders to reject misuse of accounts

-The Hindu After probe revealed a sudden surge in such deposits revealing various inconsistencies Account holders once again urged by Central Board of Direct Taxes not to consent to any kind of misuse of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements. Investigation being conducted by the Income Tax Department across India into the sudden surge in cash deposits in jan...

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Centre, states to list industries for cashless wage payment

-PTI Amritsar: Aiming to move towards a cashless India, the Centre and states could soon have powers to specify categories of employers who will have to pay wages either through cheques or by crediting the amount directly into the workers’ bank account. “The Government is ready with the Payment of Wages (Amendment) Bill, 2016 which seeks to empower the Centre as well as states to specify industrial or other establishments where employers...

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Barter is the best bet for a few tribals here -Santosh Patnaik

-The Hindu To overcome currency shortage at weekly markets, they are banking on the age-old practice CHAMPAGUDA (VISAKHAPATNAM DISTRICT): “What will we do with the Rs.2,000 note, which is a very big amount for us? As we don’t know how to exchange the demonetised note of Rs.500 in banks, we exchange it for Rs.400 from middlemen (called sahukars) in shandies (weekly markets),” says Kinusudi Kamala. She is among the many tribal women who...

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Cash crunch leaves farmers high and dry in MP's Bundelkhand

-Hindustan Times Bhopal: The Centre’s demonetisation move has hit the farmers in MP’s Bundelkhand hard who were hoping for good rabi crops after facing four years of hardships owing to drought in the region. Farming is the main occupation in the region, and heavy rains this year had brought smiles on the faces of farmers. As the sowing for winter crops was almost complete in this part of the state before demonetisation was...

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Aadhaar all set to replace PIN, password -Mahendra K Singh

-The Times of India NEW DELHI: The Aadhaar number is all set to become an alternative for all online and card transactions which require password and PIN. Unique Identification Authority of India (UIDAI) is developing a mobile app that can be used by shopkeepers, merchants or individuals for receiving payments. The move is part of the drive, anchored by Niti Aayog, to make India a cashless economy after the government scrapped high-value...

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