Savings Account

Aadhaar must to get government co-contribution for availing Atal Pension Yojana

The finance ministry on Monday said their subscribers of the Atal Pension Yojana (APY) will have to link their Aadhaar to their accounts for availing up to Rs 1,000 government’s co-contribution. Any individual who is eligible to receive benefits under the APY will have to furnish proof of possession of Aadhaar number or undergo enrolment under Aadhaar authentication, the ministry said in a statement. Pension regulator PFRDA has identified nearly 12.

Banks Without Aadhaar Enrolment Centres To Face Fine From October

The UIDAI has given banks one more month to open Aadhaar enrolment centres in a stipulated 10 per cent of branches and will impose Rs. 20,000 as fine per uncovered branch after September 30, CEO Ajay Bhushan Pandey said today. The Unique Identification Authority of India (UIDAI), in July, had asked private as well as public banks to open Aadhaar enrolment and updation facility in one out of 10 branches by August-end.

Government: Digital Transactions In All Co-Operative Banks By 2018

The National Payments Corporation of India (NPCI) on Monday said all co-operative banks in the country would be part of digital transactions by March 2018. “The Unified Payments Interface (UPI) ecosystem now covers all public sector undertakings and major private banks. We are in the process of extending the service for co-operative bank. All co-operative banks, which computerised their operation, would be part of digital transactions,” said NPCI Managing Director and CEO A.

119 banks connected with Aadhaar-enabled payment system: Minister

The government on Friday said 119 banks are connected with the Aadhaar-enabled payment system and 33.87 crore transactions have taken place through Aadhaar-enabled payment systems. “There are 111 crore Aadhaar enrolments done so far out of the total population of 125 crore in India. Aadhaar is becoming a powerful instrument to bridge the digital divide,” Ravi Shankar Prasad, Minister of Information Technology, said here. He said ₹36,000 crore has been saved in the last two years due to the linking of Aadhaar with the public distribution system including household LPG supply and MGNREGA.

5.27 Lakh Assessees Respond To Income Tax Query On Cash Deposits

Responding to the SMS/email queries under ‘Operation Clean Money’, the assessees have disclosed additional 25,000 bank accounts in which cash was deposited. The I-T Department on Monday said 5.27 lakh assessees, out of 18 lakh who were sent SMS/emails for making suspicious deposits post demonetisation, have submitted their response and warned others of ‘enforcement action’ if they fail to respond by February 15. It further said that 99.5 per cent of the 5.

26 Chartered Accountants Under Watch In Crackdown On Shell Companies

At least 26 chartered accountants have come under the scanner of the ICAI for allegedly helping shell companies, a senior official said. The Institute of Chartered Accountants of India (ICAI) is the regulator for accountancy professionals and can initiate disciplinary action against erring members. “The role of (around) 26 chartered accountants with respect to their alleged links with shell companies are being looked into by the institute,” ICAI President Nilesh Shivji Vikamsey told PTI.

Launch Of Rs 200 Note To Fill The Missing Middle, Says SBI Report

Introduction of Rs 200 note will fill in the “missing middle” even as the new currency in circulation (CIC) has already reached 84 per cent of the pre demonetisation level, says a report. Cash with banks, a CIC component, has however witnessed a decline over November 2016 level, said the State Bank of India Ecowrap report. The data for June 23, 2017 shows cash in hand with banks declining to 5.

Banks Rush To Buy Cyber Security Cover As Digi Payments Rise

The government may cut back some of the plethora of socio-economic schemes that have outlived their utility as it uses outcome budgeting to assess the impact of central sector schemes, a top official said. In a bid to improve quality of public expenditure, the finance ministry has asked every ministry to prepare outcome budget statement linking outlays against each scheme with deliverables achieved and their impact on economy and citizens.

why Aadhaar is being challenged in the Supreme Court

Both Apps uses Unified Payments Interface (UPI) technology to transfer money between any two individuals and between an individual and a merchant. Navneet Dubey Moneycontrol News Are you considering using one of the mobile payment apps launched by the government recently? If so, you may be confused on whether you should use the Aadhaar Payment App or Bharat Interface for Money (BHIM)? Well, there are specific features of each of these apps which differentiate them which you should be aware of.

India's Call Drop Problem: No More Tricks, Telecom Minister Warns Operators

Telecom Minister Manoj Sinha today said his ministry is keeping a watchful eye on all factors of call drop measurement Refusing to lower his guard on the issue of call drops, Telecom Minister Manoj Sinha today said his ministry is keeping a watchful eye on all factors of call drop measurement, which leaves no room for any manipulation. “We are looking at every aspect of call drop. No trick will work in this case,” Sinha told Press Trust of India in an interview.