On February 18, 2016, India’s Prime Minister Shri Narendra Modi launched the Pradhan Mantri Fasal Bima Yojana. After its launch, the PMFBY was implemented by 21 states during kharif 2016, whereas in rabi 2016-17, 23 states and 2 UTs implemented the same. The Central Government launched the PMFBY in the kharif season of 2016 with the intention to help farmers cope with crop losses because of unseasonal and extreme weather....
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One year after demonetisation, cash is still king -Roshan Kishore
-Livemint.com Cash scarcity led to a spike in digital payments post demonetisation, but the trend reversed as remonetisation picked up pace New Delhi: Soon after demonetisation was announced on 8 November last year, it was projected as part of a broader push towards a cashless economy. Several ministers and government officials claimed that this would nudge Indians to rely on non-cash or digital payments. In the weeks and months following demonetisation, digital payments...
More »No clear-cut trend in economy going cashless
Paytm's founder Vijay Shekhar Sharma was in the news recently for signing a deal to purchase a Rs. 82 crore worth property in Lutyens’ Delhi. He is credited with the growth of Paytm's mobile wallet services, which is currently being used by over 220 million users across the country. Although Paytm was launched in 2010, the popularity of its mobile wallet services and payment gateway among the ordinary citizens grew...
More »UP shows way in direct subsidy payment to farmers -Harish Damodaran
-The Indian Express Uttar Pradesh farmers have taken well to direct benefit transfers, though there are doubts if it can be extended to fertilisers. Akhilesh Yadav’s government in Uttar Pradesh is turning out to be a pacesetter in implementation of direct benefit transfers (DBT) to farmers. Farmers in UP got Rs 28.60 per quintal from the state government for the sugarcane they supplied to mills during the 2014-15 crushing season. The payments, totalling...
More »Labour Minister Shri Tomar announces launch of Minimum Pension Scheme across 120 locations in India
-Press Information Bureau/ Ministry of Labour & Employment The Union Minister of Labour & Employment, Steel and Mines, Shri Narendra Singh Tomar announced the launch of a guaranteed minimum pension of Rs 1000 per month under Employees' Pension Scheme, 1995. Speaking to journalists at a press conference in here today, he said, the Union Government has decided to organize functions in every office of the Employees Provident Fund Organisation spread across...
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