As per the report, as of FY23, India's household debt has reached...
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Govt to spend Rs10,900 crore to enhance electric vehicle mobility
The primary objective of the PM E-DRIVE scheme is to expedite the...
National Health Authority and IIT Kanpur sign MoU for development of digital public goods for AI in Healthcare
Under this MoU, a federated learning platform across a variety of...
Banks, telcos may be allowed to use Aadhaar again via legislation: Jaitley
The Supreme Court had last month upheld the Constitutional validity of Aadhaar, the 12-digit biometric-based unique identity number, but restricted its use by private entities like telecom operators for verifying the identity of mobile phone users
Aadhaar not mandatory for opening bank accts, insurance policies & mobile connections:SC
The Court struck down down section 57 of Aadhaar Act preventing the use of Aadhaar number for establishing the identity of an individual for any purpose, whether by the State or any body corporate or person. “Minimal demographic & biometric data of citizens are collected by the UIDAI for Aadhaar enrolment. Aadhaar number given to a person is unique & can’t go to any other person” said the SC. Now, Aadhaar cannot be mandatory for mobile connections but is maded mandatory for Income Tax returns.
Modified Jan Dhan: No of accounts swell to 326.1 mn; Rs 12.66 bn increased
During the August 15-September 5 period, the total deposits in 32.61 PMJDY accounts witnessed an increase of Rs 12.66 billion.
The balance in PMJDY accounts was Rs 824.90 billion as on September 5.
Govt mulls action against India heads of social media on fake news
During recent meetings with the representatives of the Twitter India, Facebook, WhatsApp and Youtube, the government officials made it clear that the social media platforms have to comply with the directives without delay, and if not done, action under law would be initiated against them.
What Will Happen to EU Financial Services Firms After No-Deal Brexit?
Britain says it will allow EU financial service firms to continue operating in the U.K. for up to three years – though it can’t guarantee the reverse will also be true.The documents say “people and businesses should not be alarmed” by the planning.
Prepare a list of the public sector banks that can be merged: Govt asks RBI
In a meeting this month, finance ministry officials also asked the Reserve Bank of India to suggest a time frame for the consolidation, the people said, asking not be named as the information isn’t public. The move is aimed at creating fewer, better-capitalized lenders and improving regulatory oversight.
Finance Ministry asks PSU bank CEOs to check frauds in NPAs or face penal action
More than a dozen companies undergoing bankruptcy resolution are being reviewed by banks and investigating agencies for fraudulent activities including diversion of funds
UIDAI plans Aadhaar crash course on risks
UIDAI’s proposed FAQs argue that mere knowledge of Aadhaar cannot harm an individual or be misused for impersonation, as it is fortified with additional security layers like biometrics and OTP (one time password) authentication, making it more secure than other identity documents
Major Post-Brexit Risk: UK’s $33.5B of Financial Services Exports to EU
Brexit will mean banks, insurers and asset managers in Britain losing the unfettered access to the bloc’s customers they currently have under EU “passporting” rules
Outgo on pension to exceed salary payment this fiscal: Finance Ministry
As per the projections, the salary bill of the government will go up from Rs 1.50 lakh crore in last fiscal to Rs 1.58 lakh crore this year. It will further rise to Rs 1.66 lakh crore in 2019-20 and Rs 1.74 lakh crore in 2020-21.However, the pension outgo with outpace the salary expenditure going up from Rs 1.45 lakh crore in last fiscal to Rs 1.68 lakh crore in current fiscal, Rs 1.79 lakh crore in 2019-20 and Rs 1.84 lakh crore in 2020-21.