The BHIM-Aadhaar app will pave the way for making digital payments by using the Aadhaar platform. To push digital payments further, Prime Minister Narendra Modi has announced ‘cashback’ and ‘referral bonus’ schemes for using BHIM - Bharat Interface for Money - app. PM Modi said for every person you introduce to the BHIM app, you will get a cashback of Rs. 10. “If you refer 20 people a day, you can earn Rs.
After receiving several requests from passengers, Railway has agreed to accept e-Aadhaar as one of the prescribed proof of identity for undertaking journey in any reserved class. Earlier only printed version was considered as a valid ID. According to railway ministry, the issue regarding acceptance of e-Aadhaar as one of the prescribed proof of identity for undertaking journey in any reserved class was being raised at various foras. Accordingly, the matter was examined in consultation with Unique Identification Authority of India (UIDAI).
Life insurance behemoth LIC has introduced two endowment assurance plans for individuals having Aadhaar card. While the _Aadhaar Shila _is a plan exclusively designed for women, the other scheme Aadhaar Stambh is meant for men. Absolute amount assured on death under Aadhaar Stambh is 100%, whereas for Aadhaar Shila it is 110% of basic sum assured. These plans offer a combination of protection and savings and provide a lump-sum amount at the time of maturity for the surviving policyholder and financial support for the family in case of death of the policyholder, a Corporation statement said today.
Credit card providers, banks and insurers have started alerting their customers to pay higher tax post implementation of Goods and Services Tax (GST) from July 1. Customers currently pay 15 per cent service tax for such services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and VAT. Financial services and telecom have been put in the 18 per cent GST slab. SBI Card has sent SMS to its customers alerting about the higher incidence of tax.
The relaxation comes against the backdrop of reports that many district co-operative banks did not have enough cash to disburse to farmers. The Finance Ministry on Tuesday allowed banks, post offices and district central cooperative banks to deposit the scrapped Rs 500 and 1,000 rupee notes with the Reserve Bank of India within 30 days and exchange the value of notes deposit with the new notes. In an official notification the Finance Ministry said, “Specified bank notes may be deposited by such Bank, Post Office or District Central Cooperative Bank, as the case may be, in any office of the Reserve Bank, within a period of 30 days from the commencement of these rules, and get the exchange value thereof by credit to the account of such Bank, Post Office or District Central Cooperative Bank, as the case may be, subject to the satisfaction of the Reserve Bank of the conditions specified in the said notification and the reasons for non-deposit of the specified bank notes within the period under that notification.
Goods and services tax (GST) comes into effect from 1 July. ET Wealth analyses the impact on some basic expenses in the household consumption basket. AUTOMOBILES The price difference will be bigger for SUVs (55% to 43%) compared to small cars (30% to 29%). Base price : Rs 4.75 lakh Total taxes now* : Rs 1.43 lakh Under GST : Rs 1.38 lakh DURABLES : Refrigerators and washing machines For most white goods, there won’t be much difference in price as new rates will be close to earlier ones.
The Income Tax Department today urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility. The department issued advertisements in leading national dailies and described how both the unique identity numbers of an individual can be linked by sending an SMS to either 567678 or 56161. It said people can also visit the official efiling website of the department to link the two identities, in both the cases– identical names in the two databases or in case where there is a minor mismatch.
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The bank will auction off 150 properties,including residential, commercial and agricultural land across the country. State Bank of India (SBI) has a nnounced a sale of properties through a mega e-auction on June 23, 2017. This was said by the country’s largest bank on microblogging site Twitter. The bank will auction off 150 properties, including residential, commercial and agricultural land across the country, SBI said on its website. These properties were pledged as collateral for housing and business loans and were taken over by the bank under the Security and Reconstruction of Financial Assets and Enforcement of Security Interest (Sarfaesi) Act due to non-payment of pending dues by the borrowers.
Watch out! The scammers are out with a new set of tricks to swindle the gullible public. Curiously, the Centre’s directive to link the bank accounts with Aadhaar has apparently made these fraudsters more brazen. Their latest modus operandi is to seek details of the Aadhaar card from unsuspecting victims through phone calls and emails. Posing as bank executives or tele-callers, they call up potential victims saying, “The bank has decided to link your Aadhaar number with debit card for better customer service.