-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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PPF, NSC rates slashed again; here's how much return small Savings schemes will give now -Sanjeev Sinha
-The Financial Express If you are a risk-averse investor and have been banking on small Savings schemes for the purpose of saving and investment as well as building your retirement nest egg, then there is some bad news for you. For, the government has reduced the return on small Savings schemes – including Public Provident Fund (PPF), NSC, Kisan Vikas Patra and Senior Citizen Savings Scheme — by 10 basis points....
More »The roots of rural distress -Manas Chakravarty
-Livemint.com Forgiving farm loans is no solution. The data shows there’s a far more fundamental problem—most agricultural households are unable to keep body and soul together. There’s nothing new about rural distress. Nor is it surprising. If the income of almost 70% of farm households is less than their consumption expenditure, according to the government’s own data, then it’s obvious they’ll be “distressed”. Yet that’s the inescapable conclusion from the National Sample...
More »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...
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