-The Hindu The agenda to set up a development bank is a welcome initiative, but questions remain on its design Finance Minister Nirmala Sitharaman’s press conference on August 23, announcing a slew of measures to boost the economy and financial market sentiments, had an interesting idea. It was about setting up a development bank. Ms. Sitharaman said: “In order to improve access to long-term finance, it is proposed to establish an organisation to...
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RSS blames RBI for economic slowdown, defends Modi govt policies -Anjali Das
-National Herald/ IANS Swadeshi Jagran Manch, the economic wing of the Rashtriya Swayamsevak Sangh has hit out at the Reserve Bank of India for not lowering rate of interest even when the inflation is down to 2%, holding it responsible for the current slowdown in the economy. "The RBI has been the major reason for the slowdown. The Monetary Policy Committee of the RBI has been working on the wrong model and...
More »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 »Under PM Kisan Scheme, Why is Money Credited Into Some Farmers' Accounts Quickly Deducted? -Dheeraj Mishra
-TheWire.in Documents obtained through RTI requests shed more light on complaints by farmers that money deposited under the PM Kisan scheme was immediately debited by the banks. New Delhi: A right to information (RTI) query filed by The Wire has revealed that crores of rupees credited into farmers’ accounts under the Modi government’s ambitious PM Kisan Samman Nidhi (PM-Kisan) scheme were reversed within a few hours. The BJP has been championing the...
More »Public sector banks' long-term strategy on Jan Dhan begins to pay off -TCA Sharad Raghavan
-The Hindu Total deposits in the last three years have grown by over 2.5 times to Rs. 98,400 cr. Public sector banks stand to earn as much as Rs.5,000 crore due to the increasing quantum of deposits placed in Jan Dhan accounts, and can vastly monetise this resource once they start implementing advanced analytics and begin lending to these customers, according to industry players and analysts. Over the last three years, the number...
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