-The Telegraph New Delhi: The Centre on Tuesday told the Supreme Court that the mandatory linking of Aadhaar with Bank Accounts and PAN cards was intended to screen genuine tax payers from dishonest elements evading taxes. The government made the comments while trying to allay fears that people could be harassed for money-laundering offences. Appearing for the Centre and the Aadhaar-issuing Unique Identification Authority of India, additional solicitor-general Tushar Mehta told a five-judge...
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Banks are billing for your SMS alerts against RBI advisory -Atmadip Ray
-The Economic Times KOLKATA: Charges for SMS alerts on banking transactions may not squeeze account holders much but can be a reasonable earning for many banks, especially in accounts with meagre monthly transactions though income from SMS alert service goes against the advisory from the sector regulator. While Reserve Bank of India told banks to send SMS alerts for every transaction as means to fight frauds, the regulator also directed banks to...
More »Aadhaar can't plug bank fraud: Govt
-The Telegraph New Delhi: The Centre on Thursday conceded in the Supreme Court that Aadhaar cannot be a panacea for detecting bank frauds like the one allegedly committed by diamantaire Nirav Modi, saying the scam would not have occurred if due "diligence" had been exercised by banks. The admission comes against the backdrop of the Centre's aggressive push for Aadhaar for the receipt of various government benefits and as an antidote to...
More »Formal employment rises but less no. of regular jobs created in 2nd quarter of '17-18
The increase in organized sector employment (i.e. in establishments employing 10 or more workers) in the second quarter was much higher as compared to that in the first quarter of 2017-18. The seventh round of the Quarterly Report on Employment Scenario in selected sectors (as on 1st October, 2017), which was released in March this year, confirms this. The Labour Bureau’s latest report says that during the period 1st April to...
More »Govt botched up NREGA: CAG
-OrissaPost.com Bhubaneswar: The state government lost its direction on execution of the biggest rural employment generation scheme–Mahatma Gandhi National Rural Employment Guarantee Act (NREGA). This was indicated in a Comptroller and Auditor General of India (CAG) report on local bodies for the year ended March 2017. Briefing media about the findings of the audit report, Accountant General of Orissa Madhumita Basu said, “The per annum average income of the households (HHs) in...
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