Policy
Modified Jan Dhan: No of accounts swell to 326.1 mn; Rs 12.66 bn increased
New Delhi: As many as 2 million people have joined the modified Pradhan Mantri Jan Dhan Yojna (PMJDY), taking the total number of account holders in the flagship financial inclusion programme to 326.1 million as on September 5, according to finance ministry data. Earlier, the...
What Will Happen to EU Financial Services Firms After No-Deal Brexit?
London: Britain will unilaterally accept some European Union rules and give EU financial services firms continued access to the U.K. market in order to maintain stability if the country crashes out of the bloc without a deal, the country’s top negotiator said Thursday. The details...
Prepare a list of the public sector banks that can be merged: Govt asks RBI
New Delhi: The government has asked its central bank to prepare a list of candidates for merger among 21 government-controlled lenders as it seeks to strengthen a banking system laden with bad debt, people familiar with the matter said. In a meeting this month, finance...
Govt mulls action against India heads of social media on fake news
New Delhi: Abide by law or face prosecution -- this is the tough message likely to be sent to the India heads of social media platforms if the recommendations of a high-level government panel, which discussed steps to curb fake news and misinformation besides child...
Finance Ministry asks PSU bank CEOs to check frauds in NPAs or face penal action
New Delhi: In a stern warning to bankers, the Finance Ministry has asked chief executives of public sector banks (PSBs) to check all NPA accounts exceeding Rs 50 crore for fraud or they could face criminal conspiracy charges, according to official sources. This missive comes...
UIDAI plans Aadhaar crash course on risks
New Delhi: After TRAI chief's Aadhaar dare ignited a debate on public display of the 12-digit number, the UIDAI is planning a user outreach to sensitise people about the dos and don'ts of sharing their biometric identifier. The Unique Identification Authority of India (UIDAI) intends...
Major Post-Brexit Risk: UK’s $33.5B of Financial Services Exports to EU
London: Britain must avoid tying Brussels up in red tape or antagonizing its soon to be former European Union partners and the United States if it is to maintain access to the bloc’s financial services market after Brexit. At risk is Britain’s biggest financial services...
Outgo on pension to exceed salary payment this fiscal: Finance Ministry
New Delhi: The government's outgo on pension will exceed the expenditure on salaries by nearly Rs 10,000 crore in the current financial year, and the trend will continue for two more years till March 2021, a Finance Ministry document said today. As per the Medium...
Social media communication hub policy withdrawn: Centre tells Supreme Court
NEW DELHI: The proposal to create a 'Social Media Communication Hub' has been withdrawn, the Centre told the Supreme Court on Friday. “Social media hub policy would be reviewed by government,” Attorney General K K Venugopal told a three-bench judge of the top court, headed...
After public concerns over 'bail-in' clause, govt to withdraw FRDI bill
New Delhi: The government has decided to withdraw the controversial FRDI bill and has informed about it to the Chairman of the parliamentary panel examining the proposed legislation. Trinamool Congress leader Saugata Ray said in the Lok Sabha that Finance Minister Piyush Goyal has written...
