-The Telegraph ‘Ill-timed, improper’ amendment notified by Centre a bid by ruling party to take ‘undue advantage’, says former economic affairs secretary New Delhi: Former Union economic affairs secretary E.A.S. Sarma has asked the Election Commission of India to prevent the fresh sale of electoral bonds, as allowed under an amendment notified by the Centre on Monday that he described as “ill-timed, improper” and as a bid by the ruling party to...
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About 300 branches of PSU banks to be opened in these states by Dec 2022
-PTI/ Livemint.com Among these 300 new branches, the maximum number of PSU banks will be opened in Rajasthan with 95 branches, followed by 54 in Madhya Pradesh, 38 in Gujarat, 33 in Maharashtra, 32 in Jharkhand, and 31 in Uttar Pradesh. About 300 brick-and-mortar branches of public sector banks will be opened in the unbanked areas of various states by December 2022, according to sources as quoted by the news agency PTI....
More »Public sector banks have ensured financial inclusion, finds a new empirical study
Are public sector banks (PSBs) important for the economy? Have the PSBs served the purpose for which they were created? Could the PSBs compete efficiently against the private sector banks (PVBs)? These are some of the questions, which have been answered by a chapter in the RBI Bulletin's August edition. Efficiency of PSBs Co-authored by Snehal S Herwadkar, Sonali Goel, and Rishuka Bansal (2022) of the Banking Research Division, Reserve Bank of...
More »Indians' funds in Swiss banks climb to Rs 20,700 crore, highest in 13 years
-PTI/ IndiaToday.in 'Other amounts due to customers' from India rose over six times Overall, customer deposits in all Swiss banks rose in 2020 to nearly CHF (Swiss franc) 2 trillion Swiss authorities maintain that assets held by Indians in Switzerland cannot be considered as 'black money' New Delhi/ Zurich: Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over...
More »Getting wages harder than the labour
-The Hindu Multiple bank visits, repeated rejections and biometric errors mar payment system, says study. For most rural workers dependent on the Mahatama Gandhi National Rural Employment Guarantee Scheme (MGNREGS), their labour does not end at the work site. According to a study by LibTech India released on Wednesday, many of them are forced to make multiple trips to the bank, adding travel costs and income losses, and face repeated rejections of...
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