Financial Inclusion News
The FinTech industry has grown exponentially, and the wave of changes brought in by fintech has profoundly impacted financial inclusion and penetration. It has also been beneficial since a country like India caters to a large population, so it requires advanced technology
Sitharaman said the success of the Pradhan Mantri Jan Dhan Yojana since 28 August, 2014 is reflected in terms of opening of over 46 crore bank accounts
The Finance Ministry will showcase achievements of the financial inclusion drive through a tableau during the Republic Day parade on 26 January
Many countries have cautioned India against cryptocurrencies; RBI has banned its use, says Nirmala Sitharaman
The RBI has banned the use of cryptocurrencies in India.
The RBI had put regulatory restrictions on PMC Bank after finding irregularities, and misreporting of loans given to real estate developer HDIL
Most banks fail on policies of climate change, human rights; inaction leaves sector vulnerable to investment risks: Report
As per the Fair Finance Guide India scorecard, three out of eight Indian banks have scored high on parameters of financial inclusion and corruption.
PSU bank mergers: Consolidation is no panacea as social banking goals remain with state in a vulnerable economy
Some of the fundamental objectives for which banks were nationalised in the first place remain critical for managing India's complex economy.
From GST to Insolvency and Bankruptcy Code, Arun Jaitley, Modi's consensus man, defied status quo after a lull in policymaking
Arun Jaitley spearheaded the consensus generation process interacting with opposition ruled states and finally managing to get the required approval from majority states.
FinMin asks PSBs to seek ideas from branches for achieving $5 trillion economy; to prepare roadmap for banking sector
It will be a bottom-up consultative process with PSBs from the branch level onwards of which will involve discussions at the branch or regional level, state level and national level.
Customers must be allowed to initiate and accept a reasonable number of digital payment transactions with no charges, the committee suggested
In 2013, TCS had announced receiving an over Rs 1,100- crore multi-year contract from the Department of Posts
RBI to issue guidelines on regulatory sandbox in next two months to promote innovation in fintech space: Shaktikanta Das
Pointing out some of the challenges, the governor said risks for fintech products may also arise from cross border legal and regulatory issues.
Govt appoints Hemant Bhargava as interim chairman of LIC; initiates process to select regular chairman
Bhargava was appointed as the managing director (MD) of LIC in February 2017, the insurer said in a statement.
Firstpost Editor's Picks: Assam before Bogibeel Bridge, KCR's third front dreams, Delhi pollution levels; today's must-read stories
While many parties have accused KCR of working in tacit understanding with the BJP to defeat Congress, it will be impossible for Stalin or Mamata to be associated with a grouping that has BJP in it.
Women-centric reforms needed for financial inclusion; gender-neutral schemes don't work amid societal bars
Financial inclusion is important because women specifically score disproportionately low on ordinary functions like savings and borrowings due to reasons such as gender violence, limited mobility, not being allowed to work, etc.
Better payouts to banking correspondents, facilitating paperless banking will spur financial inclusion: NITI Aayog
Niti said there are constraints due to lack of financial literacy amongst low-income households and small informal businesses and high cost of operations of traditional banking model
NCR for multi-stakeholder talks to resolve ATM industry crisis; 'cannot afford any disruption', says MD Navroze Dastur
There has been a reduction in the number of new ATMs installed this year, and pointed out that the demand for replacements is keeping suppliers like it busy.
Regulatory changes make ATM operations unviable; half of 2.38 lakh machines in India likely to be closed down by March 2019
Closure of the ATMs will impact thousands of jobs and also the the financial inclusion efforts of the government, the industry body said in a statement.
The RBI board meeting which went on for a dramatic nine-hour session has reached a mature solution which is acceptable to all concerned parties
Narendra Modi in Singapore: PM has done more than any other leader to connect India to financial mainstream
Naysayers may deride the NDA’s push for Aadhaar, Jan Dhan, RuPay, BHIM, demonetisation or GST but the fact remains that Narendra Modi has done more for inclusive development in India through technology and digitization than any other prime minister before him. His place in history is secured.