-The Times of India MUMBAI: The government has prematurely withdrawn a scheme under which shopkeepers would get an incentive of up to Rs 1,000 for accepting payments using the Unified Payments Interface (UPI). Another one providing customers cashbacks of up to Rs 500 has also been withdrawn and replaced with a scheme that provides rewards of up to Rs 150 but only for Bhim app users. The move to withdraw the incentives...
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Demonetisation effect: Demand for cash rises 7%, says RBI -Advait Rao Palepu
-Business Standard Over the past four years, through its twin policies of Jan Dhan Yojana and demonetisation, the govt has taken necessary steps to expand banking services substantially. Mumbai: People’s demand for cash continues to head northwards compared to pre-demonetisation levels despite the frequency of digital transactions going up and a substantial increase in bank deposits since November 2016. Currency with the public (CwP), or people’s demand for cash or currency, is 7...
More »MGNREGA: Honest labour's love lost as government makes payment process complex -Sakina Dhorajiwala
-The Economic Times In over a decade, the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) has been instrumental in providing employment to rural households. One of its key provisions is that once the work week is completed, the worker must be paid within 15 days. Millions depend on the timely payment of these wages. The payments process has made many strides in the last decade, from cash payments to wages being...
More »Centre close to cracking shell firm puzzle; panel decides 18 parameters -Shrimi Choudhary
-Business Standard The task force also highlighted that companies had been misused to channel unaccounted cash after demonetisation in November 2016 Mumbai: The government’s task force has arrived at a formula to define a ‘shell company’, a move critical for enforcement agencies to crack down on dubious entities exploiting the regulatory framework. According to sources, the task force has listed 18 key parameters, including beneficial ownership and the nature of business dealings, to...
More »Women hold over 50% of Jan Dhan accounts
-The Times of India NEW DELHI: In what marks a boost for financial inclusion, more than half of PM Jan Dhan Yojna account-holders are women and they are also carrying out transactions rather than merely opening accounts, a sample survey by a financial inclusion consulting firm has indicated. The “State of the Agent Network 2017” report released by Microsave on Wednesday found that there has been a more than 200% increase in...
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