Narendra Modi to launch India Post Payments Bank tomorrow; IPPB to leverage reach of 1.55 lakh post office branches
Prime Minister Narendra Modi will on Saturday launch the India Post Payments Bank (IPPB) that seeks to leverage the expansive network of the postal department to ensure financial inclusion for the masses
Govt's push for a digital revolution right in intent, but surface level adjustments cannot solve systemic problems
With respect to financial inclusion, mobile phones hold more potential than debit cards as 240 million Indians have an inactive bank account plus a mobile phone.
4 years of Narendra Modi govt: NDA has paid more than a nodding acknowledgement to entrepreneurship; it’s time to up the ante
While the Narendra Modi-led government has made a lot of promises to entrepreneurs, how many of these have really helped the startup sector? The jury is still out on this.
Jan Dhan accounts could be used for income generating activities in poultry, piggery, goatery etc
Not just developing, but another important aspect of the financial inclusion will be the safety features
Mumbai, Delhi, Chennai, Bangalore can save $7.2 bn annually by going digital, says TR Ramachandran of Visa
Cities can undertake targeted financial literacy programs to help bring the unbanked into the banking system
India is on an exciting path of digital transformation which can be a learning experience for all: IMF Director Vitor Gaspar
India is currently pursuing an "exciting" route of digital transformation which can be a learning experience for everyone
We are continuing with our focus on financial inclusion and providing financial services to the financially excluded
Traditionally, SMEs have remained a financially unorganised sector. The operations and ownership of such businesses have remained confined to the family or a small group of associates.
Even if RBI opposed demonetisation, the government would have gone ahead with it.
Paytm was earlier slated to begin operations around Diwali last year.
It is with astonishment that I read the announcement by the Reserve Bank of India (RBI) last week wherein it proposed the opening of an "Islamic window" in conventional banks for "gradual" introduction of Sharia-compliant Islamic banking in the country
The central bank's proposal is based on examination of legal, technical and regulatory issues regarding feasibility of introducing Islamic banking in India on the basis of recommendation of the Inter Departmental Group
The Indian economy has a high cost of cash because of significant cost of time, effort and resources, operating and maintaining cash infrastructure, high cost of cash withdrawals, moving and managing cost, Visa said.
There were reports that some bankers have deliberately deposited small amount in PMJDY accounts so that they do not remain under the category of zero balance.
Existing investors such as Chinese e-commerce giant Alibaba and its arm Alipay are also taking part.
Recent announcements by the government on POS (point of sale) expansion and incentivizing card payments show that it means business.
The report said the United State's performance in converting both wealth and growth into well-being is below par globally, while Germany's performance is above par on both counts.